U.S. Stocks Open Lower As Investors Await Yellen Testimony

By Joseph Adinolfi Markets MarketWatch Pulse

U.S. stocks opened slightly lower on Tuesday as investors awaited comments from Federal Reserve Chairwoman Janet Yellen. The main three benchmarks retreated after touching the latest in a series of record highs on Monday, with the S&P 500 index down two points, or 0.1%, to 2,326. The Dow Jones Industrial Average fell 34 points, or 0.2%, to 20,381. The Nasdaq Composite Index shed eight points, or 0.1%, to 5,756. T-Mobile U.S. Inc. shares rose after the company reported strong fourth-quarter earnings. U.S.-listed shares of Credit Suisse Group AG rose after the Swiss lender posted a wider-than-expected loss on litigation costs and said it would cut 5,500 jobs this year. Shares of General Motors Co. rallied after the PSA Group, owner of French car maker Peugeot, said it is in talks to buy GM's Opel brand. Shares of toy maker Mattel Inc. rose after it said it will team up with Alibaba to develop and sell new products for Chinese consumers.

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