Materials companies led U.S. stock indexes slightly higher in early trading Tuesday as investors sized up the latest round of company earnings news. Energy stocks also rose as crude oil prices headed higher. Phone companies and health care stocks lagged the broader market.
KEEPING SCORE: The Dow Jones industrial average rose 27 points, or 0.2 percent, to 19,829 as of 10:30 a.m. Eastern Time. The Standard & Poor’s 500 index gained 4 points, or 0.2 percent, to 2,269. The Nasdaq composite index added 13 points, or 0.2 percent, to 5,566.
AUTOMAKERS: The heads of General Motors, Ford Motor and Fiat Chrysler Automobiles met with President Donald Trump early Tuesday. Trump wants the automakers to build new factories in the U.S. He’s warned of a “substantial border tax” on companies that move manufacturing out of the country and promised tax advantages to those that produce domestically. GM gained 37 cents, or 1 percent, to $37.02, while Ford added 16 cents, or 1.3 percent, to $12.48. Fiat Chrysler was up 46 cents, or 4.9 percent, to $10.02.
BIG GAINER: Mining company Freeport-McMoRan jumped 5.2 percent, the biggest gain in the S&P 500 index. The stock added 81 cents to $16.53.
HOME RUN: D.R. Horton climbed 4.2 percent after the homebuilder delivered higher earnings as home closings and net home orders increased. The stock added $1.20 to $29.94.
