Stocks Opened Lower, Tax Plan Doubts Weighed

U.S, stocks opened lower on Tuesday as worries about Republican tax plans and the economy’s ability to deal with more rises in interest rates weighed on the mood among investors.The Dow Jones Industrial Average lately fell 57.91 points, or 0.25%, to 23,381.79. The S&P 500 lost 8.86 points, or 0.34%, to 2,575.98. The Nasdaq Composite was down 24.19 points, or 0.36%, to 6,733.40.

Oil prices eased for a third day on Tuesday as traders and investors questioned how much the prospect of further rises in U.S. output might overshadow some of the optimism that OPEC-led production cuts would tighten the balance between crude supply and demand. Brent crude futures were last down 34 cents on the day at $62.82 a barrel at 1212 GMT, while U.S. West Texas Intermediate futures fell 27 cents to $56.49.

Home Depot Inc (HD.N), the largest U.S. home improvement chain, on Tuesday raised its full-year profit and sales forecast again. Net income rose to $2.17 billion, or $1.84 per share, in the third quarter ended Oct. 29, from $1.97 billion, or $1.60 per share, a year earlier. It now expects sales to grow 6.3 percent and comparable sales to increase of 6.5 percent for the year ending January 2018.

The producer price index rose 0.4% in October, the Labor Department reported Tuesday. The increase in the PPI pushed the 12-month rate of wholesale inflation up to 2.8%, the highest since February 2012.

Restaurant chain Buffalo Wild Wings Inc (BWLD) has received a takeover bid valued at more than $2.3 billion from private equity firm Roark Capital Group, the Wall Street Journal reported on Monday.