Stocks Ended Mostly Lower, Eyed on Quarterly Reports
- Tuesday, October 6, 2015, 16:46
- Stock Market
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U.S. stocks ended mostly lower on Tuesday as healthcare companies lost ground and investors eyed upcoming quarterly reports that are expected to show a dip in corporate earnings. The Dow Jones Industrial Average added 13.76 points, or 0.08%, to 16,790.19. The S&P 500 fell 7.13 points, or 0.36%, to 1,979.92. The Nasdaq Composite was down 32.90 points, or 0.69%, to 4,848.36.
The largest 500 U.S. companies would owe an estimated $620 billion in U.S. taxes were it not for the more than $2.1 trillion in offshore cash that most of the firms hold in foreign tax havens, according to a study released Tuesday.
Oil prices jumped more than $2 a barrel on Tuesday, on a mix of technical buying and industry talk as well as U.S. government data suggesting the global supply glut could be ebbing. Brent settled up $2.67, or 5.4 percent, at $51.92 a barrel. West Texas Intermediate, the U.S. crude benchmark, settled up $2.27, or 4.9 percent, at $48.53.
Fiat Chrysler Automobiles NV (FCHA.MI) stands to lose $40 million of operating profit a week from a strike of its plants by the U.S. labor union United Auto Workers, said an analyst with the Center for Automotive Research.
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