U.S. stocks on Tuesday struggled to shake off mild opening losses, with Wall Street mulling whether to extend a climb that had the major indexes on Monday finishing at multiyear highs. Investors were considering the potential impact of another rate hike by China, corporate earnings and M&A activity. The Dow Jones Industrial Average inched up 3 points to 12,165. The Standard & Poor's 500 Index dipped a point to 1,317 while the Nasdaq Composite Index fell 2 points to 2,781. A couple of sectors opened modestly lower including the financials and the commodity space. UBS and Arcelor Mittal are higher following earnings. Hartford is modestly higher on an upgrade. Genworth is down 2% on a downgrade. The techs continue to shine. Apple and IBM are at new highs on upgrades. Google is also higher. Sandisk is up 3% on an upgrade. Netgear is lower even though it was upgraded. The chips are one of the few sectors within the techs that are trading lower. One merger this morning in the healthcare space. Rehabcare is jumping 45% after agreeing to be acquired by Kindred Healthcare for $1.3 billion. Kindred is also trading sharply higher. Coventry Health and Teva Pharma are down over 3% following earnings. After the first half an hour the averages moved into the green. That didn't take long. McDonalds is jumping 3% within the Dow thanks to strong global sales.
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