Stocks Opened Flat as Tech Boost Offset by Big Banks

U .S. stocks opened flat on Thursday as gains in the high-growth technology sector were offset by a drag in shares of big banks. The Dow Jones Industrial Average lately rose 2.34 points, or 0.01%, to 25,586.09. The S&P 500 was up 1.24 points, or 0.04%, to 2,858.94. The Nasdaq Composite gained 14.71 points, or 0.19%, to 7,903.04.

Oil prices took to a split path Thursday, halting the previous day’s steep slide, driven by lingering expectations of lost Iranian supply even while confidence in China’s crude demand remains vulnerable to the escalating trade dispute with the U.S. West Texas Intermediate futures for September delivery were flat near $66.94 a barrel. Brent crude for October edged up 5 cents, or 0.1%, at $72.33 a barrel.

Viacom Inc (VIAB) reported quarterly revenue below Wall Street estimates on Thursday, as domestic advertising sales fell and the media company collected lower fees from cable TV operators and online distributors. Net income attributable to Viacom fell to $522 million, or $1.29 per share, in the third quarter ended June 30, from $683 million, or $1.70 per share, a year earlier. Total revenue fell to $3.24 billion from $3.36 billion.

Tribune Media Co (TRCO) terminated its $3.9 billion deal to be acquired by Sinclair Broadcast Group (SBGI.O) and filed suit, the company said on Thursday.

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