Stocks Under Pressure Today

By: Tom Skinner
By: Tom Skinner

Stock prices are weaker to begin this holiday-shortened trading week. The Dow has been down 100 points.

Citigroup shares have lost 3 percent of their value in the early going. The financial services giant's shares have been added to Goldman Sachs' "Americas Sell List," with the firm's analyst concerned about the potential of billions of dollars in writedowns.

Oil prices are rising after talk among OPEC members about converting their cash reserves to the euro and away from the U.S. dollar. There is also doubt a possible OPEC output hike next month would get more supplies to market in time for winter.

Shares of Lowe's are lower after the nation's second-largest home improvement chain said its quarterly profit dropped more than 10 percent on a slump in the housing industry. Rival Home Depot posted a 27 percent drop in third-quarter earnings last week.

Shares of Campbell Soup are dipping after the world's largest soup maker said its fiscal first-quarter profit fell 7.2 percent on higher ingredient and advertising costs. Along with its familiar soup, the New Jersey-based company makes Pepperidge Farm cookies and crackers, Prego pasta sauce, and more.


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