Stocks Opened Lower after Trade Data

U.S. stocks opened modestly lower on Tuesday after a report showed the trade deficit soared to post-recession high in March. The Dow Jones Industrial Average lately was down 6.04 points, or 0.03%, to 18,064.36. The S&P 500 was off 2.31 points, or 0.11%, to 2,112.18. The Nasdaq Composite shed 15.52 points, or 0.31%, to 5,001.41.

The U.S. trade deficit widened in March to the highest level in more than six years. The gap increased 43.1 percent, the biggest jump in 18 years, to $51.4 billion, the largest since October 2008, the Commerce Department reported Tuesday in Washington.

The Walt Disney Company (DIS) reported quarterly results that beat expectations on Tuesday with revenues of $12.5 billion. The earnings for the first three months of the year sent Disney stock up 2% to new all-time highs in early trading.

Walt Disney Co. reported second-quarter profit that beat analysts’ estimates. Earnings at the world’s largest entertainment company totaled $1.23 a share excluding some items, according to a statement Tuesday.

Oil prices jumped more than $1 a barrel on Tuesday, pushing North Sea Brent and U.S. light crude to 2015 highs. Brent crude oil climbed to a high of $67.65 a barrel, up $1.20 and its highest since Dec. 8, before easing back slightly to around $67.50 by 1215 GMT. U.S. crude oil jumped $1.39 to a high of $60.32 a barrel, also its highest since December.