Stocks Opened Slightly Higher, Buoyed by China Data

U.S. stocks opened slightly higher on Tuesday, after robust data out of China lifted global-growth expectations. The Dow Jones Industrial Average lately climbed 6.06 points, or 0.03%, to 18,148.48. The S&P 500 rose 0.20 points, or 0.01%, to 2,126.35. The Nasdaq Composite gained 2.97 points, or 0.06%, to 5,192.10.

China’s industrial sector picked up last month, with an official gauge of factory activity rising to its highest level in two years. China’s official manufacturing purchasing managers index increased to 51.2 in October from September’s 50.4, the National Bureau of Statistics said Tuesday.

Oil edged up from one-month lows on Tuesday. Brent January crude futures were up 32 cents at $48.93 a barrel by 0925 GMT. U.S. West Texas Intermediate (WTI) futures were up 5 cents at $46.91 a barrel.

Newspaper company Gannett Co. has dropped its bid to buy Chicago Tribune and Los Angeles Times publisher Tronc Inc., ending a monthslong pursuit of its rival.

Pfizer Inc. on Tuesday lowered its earnings outlook for the year and said it was ending the development of a drug in the massive cholesterol-treatment sector. For the full year, Pfizer said it now expects earnings per share of $2.38 to $2.43, reducing the high-end of the range by 5 cents.

Danish jeweler Pandora A/S (PNDORA.KO) on Tuesday backed its full-year revenue guidance and stepped up plans to open more stores, as it posted higher third-quarter profit. Net profit rose 40% to 1.41 billion Danish kroner ($207.9 million) in the three months to the end of September from 1.01 billion kroner in the same period a year earlier.