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Wall Street: Stocks rise at the open; gold up

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Gold:
Trading now at $1,787 an ounce, up 0.6% from Monday. Dow Jones industrial average: Trading now at 11,431.30, up 0.3% from Monday.

Mixed news. U.S. stock markets wavered at the open; there was disappointing news about the housing market, but that was tempered by speculation that the Federal Reserve may announce a new stimulus plan.

Morgan Stanley’s feud. Wall Street has become increasingly divided between its trading operations and its more traditional investment banking operations -- and at Morgan Stanley, this division has become personal.

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Downgrade insiders. The Securities and Exchange Commission is reportedly probing whether some big trading firms took advantage of last month’s downgrade of the United States’ credit rating by Standard & Poor’s.

Rogue trader. UBS executives will meet later this week in Singapore to review the fallout from the disclosure of a rogue trader’s $2.3-billion losses.

Quiet protest. Protesters are continuing their demonstrations on Wall Street, but their numbers and strength have not been overwhelming.

-- Nathaniel Popper in New York
Twitter.com/nathanielpopper

Stan Honda / Getty Images

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