Stocks Rising...Consumer Confidence Drops...Oil Prices Sliding

By: Tom Skinner
By: Tom Skinner

Stocks have opened higher after yesterday's sharp decline. The Dow has been up as many as 100 points in the first hour of trading.

Standard & Poor's says U.S. home prices fell 4.5 percent in the third quarter from a year earlier. It is the biggest drop since S&P began its nationwide housing index in 1987.

The Conference Board says consumer confidence has dipped to its lowest level in two years. The group's index dropped to 87.3, down almost eight points.

Oil prices are dropping amid concern that a slowing economy might reduce demand for crude just as OPEC members are considering an increase in production. Light, sweet crude for January delivery dropped $2.93 to $94.77 a barrel in New York.

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