Stocks Opened Flat, Eyed on Earnings

U.S. stocks opened little changed on Monday as investors focused on upbeat earnings from Caterpillar Inc. The Dow Jones Industrial Average lately gained 20.62 points, or 0.08%, to 25,471.68. The S&P 500 was down 6.28 points, or 0.22%, to 2,812.54. The Nasdaq Composite dropped 81.50 points, or 1.05%, to 7,655.92.

Oil prices traded higher on Monday, as investors gauged the relative influence of a spate of bullish and bearish factors. West Texas Intermediate crude-oil futures for September rose 89 cents, or 1.3%, at $69.58 a barrel, while Brent crude advanced by 37 cents, or 0.5%, at $75.13 a barrel.

Caterpillar Inc (CAT.N) on Monday upgraded its full-year profit outlook after earnings in the second quarter nearly doubled, helped by robust global demand for its equipment. Net profit for the quarter came in at $2.82 per share, compared with $1.35 last year. The company now expects adjusted profit per share to be between $11.00 and $12.00 in 2018, compared with $10.25 to $11.25 projected earlier.