Opening Bell

Every sector of S&P 500 except Energy, started the day in the red. Energy Sector is doing solid gains though. Oil is also up, $63.45 a barel. Investors are waiting for the 10am Existing Home Sales report.

AutoZone, AZO, announced its quarterly reports today topping the consensus by $.24 for the fiscal third quarter. It came to $3.13. Surprisingly, it is trading at 156.78, down almost 4%. As you well know, AZO has been hitting its ever-highs because of the credit crisis. According to the company report people tend to fix their cars more often now. They try to avoid buying new ones.

As of now, 9.52am, S&P is in positive territory at 911.23.

The word on the street is that GM now is getting closer to bankruptcy. The stock is now trading at $1.32, down almost 10%.

S&P lowered its recommendations for Staples, SPLS, from buy to hold.

The stocks are trading in a mixed fashion pushing the major Indices up and down. There seems to be some buying now. It is 10am! Existing Home Sales report is released now!