Stocks Opened Lower on Fed Expectations

U.S. stocks opened lower on Tuesday, following a sharp drop on Monday as investors continue to fret over a likely Federal Reserve rate hike in December. The Dow Jones Industrial Average lately lost 35.74 points, or 0.20%, to 17,694.74. The S&P 500 was off 3.05 points, or 0.15%, to 2,075.53. The Nasdaq Composite was down 28.84 points, or 0.57%, to 5,066.46.

The prices the U.S. paid for imported goods fell by 0.5% in October to mark the fourth decline in a row. Excluding fuel, import prices fell by 0.3%, the Labor Department said Tues day. Inc. is among 11 companies that will be questioned by European Union lawmakers next week about low-tax deals as the Internet retailing giant awaits a decision on its fiscal pact with Luxembourg from antitrust regulators.

Chipotle Mexican Grill Inc said it would reopen all 43 outlets in the Seattle and Portland areas that it closed after E. coli food poisoning sickened some people who had eaten at eight Chipotle restaurants in those areas.

Oil prices are set for a slow recovery, according to the latest report from International Energy Agency (IEA), which cautioned against the deep investment cutbacks in the industry. The IEA forecast that demand would pick up slowly to 2020, adding an average of 900, 000 barrels a day per year, gradually rising to a demand for 103.5 million barrels per day by in 2040. That compares with 94.5 million barrels per day in 2015.

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