U.S. Stock Market Opens Lower

Spread betting and contracts for differences on the U.S. stock market should consider that it has opened lower this morning. U.S. stocks are slumping just after the open on the news that housing starts dropped. 

The news about housing starts is tempering optimism about the recovery of the U.S. economy. However, the U.S. stock market is working toward recovery this morning. The S&P 500 is already back in the black, and the Dow is less than 10 points in the red -- and rising. The Nasdaq has almost completed the transition to positive territory.

It appears that economic recovery will not be coming quite as quickly as some bulls thought, but the housing data is not so bad that it is destroying all hopes of a recovery in the latter half of the year. Yesterday the U.S. stock market had a very bullish day, and it appears that, if investors can overcome this early slump, today could be another good day.