Stocks are down in early trading as the market lacks direction. A slow day with no major news has investors mostly taking a break and getting ready for the weekend. Friday’s are notoriously down days as many investors don’t like holding positions over the weekend.
Oil prices are also falling today after they saw a spike yesterday on reports of a Saudi pipeline explosion. These reports were later said to be false according to a Saudi oil minister. Oil prices are still high though and are trading above $107/barrel.
Yelp! Inc. (NYSE:YELP) had its IPO this morning and shares soared 60%. Shares of YELP are currently trading at $24.77. [Read more...]