Associated Press - June 19, 2007 9:43 AM ET
NEW YORK (AP) - Stock prices are modestly lower in early trading. The Dow Jones Industrial Average is down eight points in today's early going.
The Nasdaq Composite Index is off five points and the Standard & Poor's 500 Stock Index is down more than two points.
The one economic report of the day was released before the opening bell. The Commerce Department says May housing starts dropped 2.1%, even as building permits rose three percent. Permits are seen as a gauge of future building activity.
Yahoo shares are in the spotlight after the Internet giant named co-founder Jerry Yang its new CEO. He's replacing Terry Semel, who is stepping down. Analysts say Yahoo is looking to rev up innovation in the face of fierce competition from Google.
Best Buy shares have come under pressure after the leading consumer electronics chain said its quarterly profit declined. It cited weakness in its business in China and higher sales of lower profit items like notebook computers. Best Buy also reduced its profit outlook for the remainder of the fiscal year.
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