Stocks Opened Slightly Lower ahead of Election Results

U.S. stocks opened with modest losses on Tuesday, with investors holding off from making big bets ahead of the results from the presidential election. The Dow Jones Industrial Average lately slipped 39.24 points, or 0.21%, to 18,220.36. The S&P 500 lost 6.16 points, or 0.29%, to 2,125.36. The Nasdaq Composite fell 13.68 points, or 0.26%, to 5,152.50.

Oil prices moved in a narrow range in early Asia trade Tuesday. Light, sweet crude futures for delivery in December traded at $44.88 a barrel, down $0.01. January Brent crude rose $0.11 to $46.26 a barrel.

CVS Health Inc. warned that it stands to lose 40 million prescriptions next year as deals signed by rival Walgreens Boots Alliance Inc. with other participants in the drug supply chain shut out CVS stores.

On Tuesday, Tesla announced that it will acquire Grohmann Engineering, a German automated manufacturing company. In a statement, Tesla described Grohmann as a “world-renowned engineering company in Prüm, Germany, which will become Tesla Grohmann Automation.”