Stocks Opened Higher, Oil Prices Edged Lower
-- Tuesday, August 13, 2019, 9:52 --
U.S. stocks opened modestly higher on Tuesday as investors wrestled with trade wars and political clashes in Hong Kong and worries about Sino-American trade. The Dow Jones Industrial Average lately rose 403.10 points, or 1.56%, to 26,300.81. The S&P 500 gained 36.97 points, or 1.28%, to 2,920.06. The Nasdaq Composite advanced 134.79 points, or 1.71%, to 7,998.20.
Oil futures edged lower Tuesday, with investor appetite undercut by worries over the global economic outlook. West Texas Intermediate crude for September delivery fell 64 cents, or 1.2%, to $54.29 a barrel. October Brent crude fell 16 cents, or 0.3%, to $58.41 a barrel.
U.S. consumer prices increased broadly in July, but the signs of an acceleration in inflation will likely do little to change market expectations that the Federal Reserve will cut interest rates again next month amid worsening trade tensions.
Snap Inc <SNAP> said Tuesday it will launch a new version of its Spectacles sunglasses, which will have the capability of capturing photos and videos and uploading them directly to its unit Snapchat, as the technology company works to develop its augmented reality features.
Amazon.com Inc. is in late-stage talks to acquire as much as 10% of India’s Future Retail Ltd., people familiar with the negotiations said, as the U.S. company moves to bolster its brick-and-mortar presence in one of the world’s fastest-growing retail markets.