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Saturday, January 16, 2021

Stocks shake off a two-day slump; materials rebound

NEW YORK (AP) — U.S. stocks are mixed in early trading as investors pick up some bargains after a two-day losing streak.

Costco led a drop in consumer staples stocks early Wednesday after reporting weaker earnings than analysts were expecting.

Dow Chemical and DuPont both rose sharply following reports that the two companies were talking about a combination.

Energy and materials companies caught a break and moved slightly higher along with the price of oil and other commodities.

The Standard & Poor’s 500 index was flat at 2,964 in the first few minutes of trading. The Nasdaq composite was down 15 points, or 0.3 percent, at 5,083.

The Dow Jones industrial average edged up 30 points, or 0.2 percent, to 17,599.

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