Stocks Opened Mostly Lower, as Google Weighed on Tech

U.S. stocks opened broadly lower on Tuesday as Google’s results weighed on tech stocks. The Dow Jones Industrial Average lately fell 16.11 points, or 0.06%, to 26,538.28. The S&P 500 shed 7.73 points, or 0.26%, to 2,935.30. The Nasdaq Composite dropped 50.51 points, or 0.62%, to 8,111.35.

Oil prices jumped back on Tuesday from a soft start to the week, spurred higher by a depreciating dollar that boosted demand for most commodities. West Texas Intermediate crude for June delivery rose 87 cents, or 1.4%, to $64.36 a barrel. June Brent crude rose 79 cents, or 1.1%, to $72.31 a barrel.

Alphabet Inc. revenue growth cooled off at the start of 2019. Alphabet reported first-quarter earnings of $6.66 billion, or $9.50 a share, on revenue of $29.48 billion.

Home price growth continued to decelerate. Standard & Poor’s said Tuesday that its S&P CoreLogic Case-Shiller national home price index posted a 4% annual gain in February, down from 4.2% a month earlier. The 20-City Composite posted a 3% year-over-year gain, down from 3.5% in January.

Chicago PMI fell sharply in April, falling to 52.6 from 58.7 in March. That’s the lowest level since January 2017. Four of the five components declined, and new orders fell for the second straight month, MNI Indicators said.

Warren Buffett’s Berkshire Hathaway Inc will put $10 billion behind Occidental Petroleum Corp’s bid as it tries to see off competition from Chevron Corp to buy smaller rival Anadarko Petroleum Corp.