Stocks Opened Lower on Housing Data

U.S. stocks opened lower on Wednesday after a bigger-than-expected fall in housing starts in January. The Dow Jones Industrial
Average lately rose 12.33 points, or 0.08%, lower at 16,142.73. The S&P 500 was off 1.47 points, or 0.08%, at 1,839.29. The
Nasdaq Composite fell 9.53 points, or 0.22%, at 4,263.25.

U.S. home construction fell in January for a second month but the weakness in both months reflected severe winter weather in many
parts of the country. Builders started work at a seasonally adjusted annual rate of 880,000, down 16 percent from December, the
Commerce Department reported Wednesday.

Separately, U.S. producer prices rose for a second straight month in January. The Producer Price Index for final demand increased
0.2 percent in January, seasonally adjusted, the U.S. Bureau of Labor Statistics reported Wednesday.

Devon Energy Corp. (DVN) said Wednesday it would sell its Canadian conventional assets to Canadian Natural Resources Ltd. CNQ
+3.16% for Canadian $3.125 billion, or U.S. $2.8 billion.