FOX Business: Capitalism Lives Here
U.S. equity markets were lightly changed on Tuesday as traders mulled the latest batch of corporate earnings and awaited Fed minutes due out later in the week.
As of 11:27 a.m. ET, the Dow Jones Industrial Average rose 0.7 point, or 0.00%, to 15976, the S&P 500 fell 0.78 point, or 0.04%, to 1791 and the Nasdaq Composite dipped 0.4 point, or 0.01%, to 3949.
The Dow crossed above the 16000 mark for the first time in history Monday. However, the blue-chip average failed to hold the historic level, closing at a sub-16000 record high.
The economic data docket is bare on the day, leaving traders with a round of corporate news to parse through. Tesla (TSLA) shares dropped in pre-market trading after the U.S. government said it was investigating Model S fires. Home Depot (HD) posted better-than-expected quarterly results, sending shares of the biggest U.S. home improvement retailer higher. Best Buy (BBY) posted a better-than-expected quarterly profit, but warned about tight margins due to sales efforts.
J.P. Morgan Chase (JPM) was also said to have struck a $13 billion pact with the Department of Justice to put a slew of legal issues behind the biggest American bank by assets.
In commodities, U.S. crude oil futures fell 38 cents, or 0.41%, to $92.65 a barrel. Wholesale New York Harbor gasoline rose 0.06% to $2.658 a gallon. Gold climbed $1.90, or 0.15%, to $1,274 a troy ounce.