Stock prices are lower in early trading. The Dow Jones Industrial Average is down. The Nasdaq Composite Index is off and the Standard-and-Poor's 500 Stock Index is down.
Before the open, the Institute for Supply Management released early its report on the services sector, which was substantially weaker than expected. The group's index showed contraction, helping to fan fears about the economic outlook.
Coca-Cola announced it now owns a 40 percent stake in Honest
Tea, which makes teas and other organic beverages. Financial terms
of the deal were not disclosed.
Oil futures were down sharply as well. Near-month crude was down
more than $1 to $88.61 a barrel in electronic trading on the New York Mercantile Exchange.