Stocks are going nowhere

Stocks are trading sideways in early going Tuesday.

Near 9:56 a.m. ET, the Dow was up 72 points, the S&P 500 was up 5 points, and the Nasdaq was down 3 points.

The biggest mover on the Dow was DuPont, up 10%, after the agricultural giant cut its full-year earnings forecast and announced its CEO’s resignation on Monday.

Stocks had a big rally yesterday, which brought the Nasdaq into positive territory for the year and gained the Dow 300 points.

In economic data, the trade deficit rose to $US48.3 billion in August, following a jump in imports of consumer goods and products from China.

After the market close, the American Petroleum Institute will release weekly data on crude oil inventories.

The Energy Information Administration released its latest short term energy outlook this morning, and estimated that US crude oil production fell by 120,000 barrels per day in September.

The EIA projects that US household spending on natural gas and heating oil this winter will be lower year-on-year because of lower prices.

PepsiCo reported earnings results this morning, beating expectations on adjusted earnings and sales. The company also reported a decline in unadjusted profits to $US0.36 per share from $US1.32, following the write down of its struggling Venezuela operations that cost it about $US1.4 billion.

Yum Brands reports earnings after the market close.

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