Stocks Mixed after Mixed Earnings, Weak Data

U.S. stocks gave up opening gains and headed south on Tuesday as investors assessed a batch of mixed earnings and softer-than-expected economic data. The Dow Jones Industrial Average dropped 36.54 points, or 0.20%, to 18,013.58. The S&P 500 was up 0.56 points, or 0.03%, to 2,092.99. The Nasdaq Composite was down 17.40 points, or 0.35%, to 4,970.85.

Retail sales increased 0.9 percent in March after three straight months of declines, according to the Commerce Department. The rebound in retail sales suggests the economy may be pulling out of the soft patch that began the year.

Low oil prices are spurring faster growth in the U.S. and other advanced economies, the International Monetary Fund said Tuesday, projecting the global economy will expand by 3.5% this year. That’s up from 3.4% growth in 2014 as the pickup in the advanced nations offsets a slowdown in emerging markets.

Nokia Corp. has emerged as the possible engine behind the creation of a telecommunications-equipment titan
only years after it was regarded as the laughingstock of the tech world for missing the touchscreen revolution that thrust smartphones into billions of palms around the world.

JPMorgan Chase JPMorgan Chase CEO Jamie Dimon surprised Wall Street in early-March by telling investors a spike in volatility, particularly in currency markets, meant that the bank’s trading revenues were running higher than year-ago levels.