Stocks are little changed in early trading as oil jumps; Disney, Estee Lauder rise on earnings
NEW YORK, N.Y. – Stocks are little changed in early trading following two days of gains that brought the market close to a record high.
Vornado Realty Trust slumped 2 per cent Tuesday after reporting results that fell short of analysts’ forecasts.
Other companies rose after reporting earnings that beat forecasts. Disney rose 1 per cent and Estee Lauder jumped 6 per cent.
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Energy stocks did better than the rest of the market as the price of oil climbed above $60 a barrel. Oil hasn’t closed above that level since December.
The Standard & Poor’s 500 was down a point to 2,113 as of 9:35 a.m. Eastern time Tuesday.
The Dow Jones industrial average lost 11 points, less than 0.1 per cent, to 18,061. The Nasdaq composite fell 13 points, or 0.3 per cent, to 5,002.
