Tuesday March 25, 03:09 PM
US open: Stocks lower
LONDON (ShareCast) - US stocks were lower in opening trades after disappointing figures from the consumer confidence survey hit sentiment. The Conference Board's survey on consumer confidence plunged to 64.5 in March from 75 last month
and worse than expectations of 73.4.Standard & Poor's/Case-Shiller home prices index dropped 10.7% in January, the biggest drop since records began in 1987. In company news, the merger between satellite radio companies Sirius and XM was approved by the Justice Department late Monday. Investment bank Bear Stearns (NYSE: BSC - news) turned lower but is still trading higher than JP Morgan's increased offer of $10 a share.
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