Stocks Opened Flat as Energy Gains Offset Tech Losses

U.S. stocks opened flat on Wednesday as a rise in shares of energy companies helped offset losses in technology stocks. The Dow Jones Industrial Average lately rose 25.29 points, or 0.10%, to 25,996.35. The S&P 500 was down 0.75 point, or 0.03%, to 2,887.14. The Nasdaq Composite dropped 36.76 points, or 0.46%, to 7,935.71.

U.S. oil prices remained higher early Wednesday traded as Hurricane Florence barreled toward the East Coast, boosting demand for crude and raising worries about disruptions to gasoline flows and pipelines in the region. October futures on West Texas Intermediate crude rose 72 cents, or 1%, to $69.97 a barrel. November Brent gained 23 cents, or 0.3%, to reach $79.29 a barrel.

U.S. producer prices unexpectedly fell in August, recording their first drop in 1-1/2 years, as declines in the prices of food and a range of trade services offset an increase in the cost of energy products.