Stocks Opened Slightly Lower amid Earnings, Stimulus Talks

U.S. stocks opened slightly lower on Tuesday, as investors continued to focus on earnings releases and negotiations in Congress over a stimulus package. The Dow Jones Industrial Average lately shed 17.83 points, or 0.07%, to 26,646.57. The S&P 500 was down 5.27 points, or 0.16%, to 3,289.34. The Nasdaq Composite fell 11.10 points, or 0.10%, to 10,891.70.

Oil futures lost ground Tuesday, seeing pressure as rising COVID-19 cases renewed worries over global economic activity. West Texas Intermediate crude for September delivery fell 72 cents, or 1.8%, to $40.29 a barrel, while October Brent crude declined 68 cents, or 1.5%, to $43.47 a barrel.

Quarterly earnings results set for release after market close Tuesday are set to give further indications of the company-level impacts of the pandemic, with Disney (DIS), along with newly public firms Nikola (NKLA), Beyond Meat (BYND) poised to report after market close.

In Washington, talks between Democratic and Republican lawmakers over the next round of stimulus aid are set to continue on Tuesday. The level of enhanced unemployment insurance benefits remains a sticking point, along with the total funds for other aid for individuals and state and local government programs.