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U.S. stocks open mixed ahead of earnings season

Xinhua, October 6, 2015 Adjust font size:

U.S. stocks opened mixed on Tuesday, following sharp gains Monday, as investors shifted their attention to the third quarter earnings season.

Shortly after the opening bell, the Dow Jones Industrial Average edged up 4.98 points, or 0.03 percent, to 16,781.41. The S&P 500 lost 4.41 points, or 0.22 percent, to 1,982.64. The Nasdaq Composite Index was down 15.78 points, or 0.33 percent, to 4,765.48.

Wall Street awaited the official beginning of the U.S. corporate earnings season. Earnings are expected to decline around 4 percent for the S&P 500, according to Thomson Reuters.

In corporate news, shares of Pepsi rose over 2 percent in the early trading Tuesday after the company reported better-than-expected quarter results.

Pepsi posted its organic revenue growth of 7.4 percent for the third quarter and core earnings per share of 1.35 U.S. dollars. The firm also raised its forecast for the year.

On the economic front, the United States' international trade deficit in goods and services increased to 48.3 billion dollars in August from revised 41.8 billion dollars in July, the Commerce Department reported Tuesday.

U.S. stocks surged for a second straight session Monday, as Wall Street believed that the possibility for the U.S. Federal Reserve to raise interest rates this year becomes lower after a poor jobs report. Endite