Stocks Opened Lower amid Trump, Brexit Uncertainty

U.S. stocks opened lower on Tuesday, as investors digested key remarks from the top British leader and awaited President-elect Donald Trump’s inauguration on Friday. The Dow Jones Industrial Average lately fell 51.82 points, or 0.26%, to 19,833.91. The S&P 500 lost 8.23 points, or 0.36%, to 2,266.41. The Nasdaq Composite slid 33.77 points, or 0.61%, to 5,540.35.

Oil prices rose on Tuesday, supported by a falling U.S. dollar and Saudi Arabia saying it would adhere to OPEC’s commitment to cut output.Brent crude futures, the international benchmark for oil prices, were up 66 cents at $56.52 a barrel by 1304 GMT. U.S. West Texas Intermediate (WTI) crude futures were up 78 cents at $53.15.

Morgan Stanley said its quarterly earnings climbed 83% and beat analyst expectations as the bank logged its strongest fourth-quarter profit since the financial crisis. It reported a profit of $1.67 billion, or 81 cents a share.

Wal-Mart plans to add about 10,000 retail jobs in the U.S. as it opens new stores and expands existing locations. The world’s biggest retailer said Tuesday that there will also be about 24,000 construction jobs generated by its expansion plans.

British American Tobacco PLC on Tuesday said Reynolds American Inc. had agreed to its sweetened acquisition offer of $49.4 billion for the 57.8% of Reynolds that it doesn’t already own, a deal that will create the world’s largest listed tobacco company by revenue and market value.