Stocks Opened Lower, Oil Prices Rose

U.S. stocks opened lower on Tuesday, with investors hesitant to take stock values much higher after a rally on Monday inspired by upbeat manufacturing data out of China. The Dow Jones Industrial Average lately lost 56.52 points, or 0.22%, to 26,201.90. The S&P 500 edged lower 1.94 points, or 0.07%, to 2,865.25. The Nasdaq Composite slipped 13.07 points, or 0.17%, to 7,815.84.

Oil bulls pushed prices higher again on Tuesday, finding encouragement in signs of tightening supplies and fading worries over global economic growth. West Texas Intermediate crude for May delivery was up 49 cents, or 0.8%, at $62.08 a barrel. June Brent crude tacked on 23 cents, or 0.3%, to $69.24 a barrel.

Walgreens slashed its 2019 forecast after falling short of expectations in what its CEO described as the most difficult quarter since the company was formed a few years ago. The nation’s largest drugstore chain now expects adjusted earnings per share growth to be flat this year, compare to a previous forecast for growth of 7% to 12% that it had reaffirmed in late December.