Stocks Open Higher; S 500 Stays Above 1900
As stocks opened slightly higher Friday, Wall Street chart watchers are drawing a line in the sand: 1900 on the Standard & Poor’s 500 stock index. So far, U.S. stocks are not following Japan’s cue, where the Nikkei index nosedived 3%, losing 454 points for the trading day on the strife in Ukraine and Iraq. And so far, the S&P 500 remains above that 1900 level, but only by a scant dozen points. Wall Street pros say if the broad stock market gauge can stay above that key threshold — and psychologically important big, round number — the market has a better chance of avoiding a more significant decline, such as the dreaded 10% correction.
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