Consumer spending drops, markets open lower

A sharp drop in December consumer spending sent the markets tumbling to a lower open with the Dow falling 91 points to 17,073. Nasdaq plunged 40 points to 4,594.

On the upside

YOU On Demand (Nasdaq: YOD) entered a license agreement with Twentieth Century Fox Television Distribution for the subscription video on demand rights in China to a broad selection of library feature films.

Camtek (Nasdaq: CAMT) received a conditional purchase order from Bay Area Circuits for a Gryphon 3D inkjet technology system.

Bargain hunters lifted shares of National Bank of Greece (NYSE: NBG).

On the downside

Rite Aid (NYSE: RAD) stock extended its losses.

Shares of American Airlines (Nasdaq: AAL) continued to fall.

Rising crude oil prices weighed down shares of Delta Air Lines (NYSE: DAL).

In the broad market, advancing issues outpaced decliners by a margin of 5 to 4 on the NYSE while decliners edged out advancers by 10 to 9 on Nasdaq. The broader S&P 500 lost 12 points to 1982. Bitcoin slipped $1 to $223.
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