BUSINESS US stocks open little changed amid earnings, CPI data


US stocks open little changed amid earnings, CPI data


23:38, January 14, 2020

NEW YORK, Jan. 14 (Xinhua) -- U.S. stocks opened roughly flat on Tuesday as investors digested a slew of corporate earnings and the consumer price index (CPI) data.


Traders work during the opening bell at the New York Stock Exchange (NYSE) on January 13, 2020 on Wall Street in New York City. (Photo: AFP)

Shortly after the opening bell, the Dow Jones Industrial Average fell 7.40 points, or 0.03 percent, to 28,899.65. The S&P 500 was down 2.81 points, or 0.09 percent, to 3,285.32. The Nasdaq Composite Index decreased 2.31 points, or 0.02 percent, to 9,271.63.

Shares of J.P. Morgan Chase rose about 2 percent shortly after the opening on stronger-than-expected quarterly results.

Citigroup also delivered better-than-anticipated earnings Tuesday morning, sending the stock up 2 percent.

Expectations for the corporate earnings season were relatively low. S&P 500 earnings are expected to have declined by 2 percent in the fourth quarter, according to FactSet.

On the data front, U.S. CPI rose 0.2 percent in December on a seasonally adjusted basis after rising 0.3 percent in November, the U.S. Bureau of Labor Statistics reported Tuesday. The so-called core CPI which strips out food and energy edged up 0.1 percent in December.

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