Stocks Opened Higher, Oil Prices Declined

U.S. stocks opened higher on Tuesday, as investors weighed the latest salvo in the U.S.-China trade war and earnings reports from blue-chip companies. The Dow Jones Industrial Average lately rose 203.82 points, or 0.83%, to 24,646.74. The S&P 500 gained 24.62 points, or 0.93%, to 2,665.87. The Nasdaq Composite added 60.90 points, or 0.86%, to 7,111.20.

Oil prices declined Tuesday with investor focus returning to another potential supply build. West Texas Intermediate crude for December delivery was down 64 cents, or 0.9%, to $66.40 a barrel. December Brent crude fell 89 cents, or 1.1%, to $76.45 a barrel.

Home prices in the U.S. rose at a slower pace for the fifth consecutive month, yet another sign that the housing market is cooling down. Standard & Poor’s said Tuesday that its S&P CoreLogic Case-Shiller national home price index reported a 5.8% annual gain in August, down from 6% in the previous month.

Pfizer Inc. (PFE) reported third-quarter earnings that beat expectations but revenue that missed, and provided a downbeat revenue outlook. Net income rose to $4.11 billion, or 69 cents a share, from $2.84 billion, or 47 cents a share, in the same period a year ago. Revenue rose 1% to $13.30 billion. For 2018, the company revised its revenue guidance range to $53.0 billion to $53.7 billion from $53.0 billion to $55.0 billion and narrowed is adjusted EPS outlook to $2.98 to $3.02 from $2.95 to $3.05.

Coca-Cola Co. (KO) reported third-quarter earnings and revenue that topped expectations. Net icnome rose to $1.88 billion, or 44 cents a share, from $1.45 billion, or 33 cents a share, in the same period a year ago. Revenue fell 9% to $8.25 billion. The company affirmed its 2018 adjusted EPS guidance for growth of 8% to 10%.