Stocks are drifting lower in early trading; oil price jumps
Source: AP-Excite
NEW YORK (AP) — U.S. stocks drifted lower in early trading Tuesday following two days of gains that brought the market close to a record high.
KEEPING SCORE: The Standard & Poor's 500 was down seven points, or 0.4 percent, to 2,108 as of 10:03 a.m. Eastern time. The Dow Jones industrial average sank 37 points, or 0.3 percent, to 18,033, the Nasdaq composite fell 34 points, or 0.7 percent, to 4,980.
MICKEY'S MAGIC: Walt Disney's stock hit an all-time high after it delivered quarterly results that beat Wall Street's estimates, thanks, in part, to rising revenue from its Walt Disney World Resort and other theme parks. Last weekend, its "Avengers: Age of Ultron" had the second-biggest domestic opening behind the first "Avengers." Disney's stock climbed 98 cents, or 1 percent, to $111.97.
CRUDE: Energy stocks did better than the rest of the market as the price of oil climbed above $60 a barrel. Oil hasn't closed above that level since December. Benchmark U.S. crude was up $1.69 to $60.61 on the New York Mercantile Exchange.
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FILE - In this Oct. 2, 2014 file photo, people pass a Wall Street subway stop, in New York's Financial District. Stocks are little changed in early trading Tuesday, May 5, 2015, following two days of gains that brought the market close to a record high. (AP Photo/Richard Drew, File)
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