NEW YORK: Wall Street stocks mostly rose early Tuesday as markets sought to pivot from the prior session’s losses and oil prices retreated.
While tensions remain elevated in the Middle East as Israel ramped up its ground offensive against Hezbollah along Lebanon’s southern coast, crude prices stepped down from Monday’s surge.
“There’s an expectation that perhaps Israel’s attack doesn’t go to the energy complex,” said Quincy Krosby of LPL Financial.
“The scenario isn’t so much a concern the way it would have been years ago,” Krosby added, noting that global crude supplies are more robust than in years past.
Wall Street falters on rising yields, geopolitical risks
About 20 minutes into trading, the Dow Jones Industrial Average was down 0.2 percent at 41,891.39.
The broad-based S&P 500 added 0.4 percent at 5,717.01, while the tech-rich Nasdaq Composite Index jumped 0.6 percent to 18,022.76.
Among individual companies, PepsiCo rose 0.6 percent after reporting better earnings than expected while signaling it expects lower full-year revenue growth than previously thought.
The soda and snacks giant pointed to “strong cost controls” as a key element of its profitability.
Source: Brecorder
