Stocks Little Changed in Early Trading

U.S. stocks were little changed in the early trading on Monday, as investors monitored developments around the spread of the coronavirus. The Dow Jones Industrial Average lately gained 7.21 points, or 0.02%, to 29,109.72. The S&P 500 was up 1.41 points, or 0.04%, to 3,329.12. The Nasdaq Composite rose 20.51 points, or 0.22%, to 9,541.02.

Oil futures drifted lower Monday, undercut by the hit to Chinese demand for crude in the wake of the coronavirus outbreak and indications OPEC and its allies are unlikely to immediately deliver an additional cut to production. West Texas Intermediate crude for March delivery fell 18 cents, or 0.4%, to $50.14 a barrel, while April Brent crude lost 11 cents, or 0.2%, to $54.36 a barrel.

Burger King and Popeyes parent Restaurant Brands International Inc. (QSR)reported fourth-quarter earnings that beat expectations, helped by “transformational” growth at Popeyes, which was boosted by the Chicken Sandwich. Net income was $165 million, or 54 cents a share, after $163 million, or 64 cents a share, in the year-ago period. Revenue increased 6.8% to $1.48 billion.