Stocks rise slightly at the open

U.S. stock markets settled lower on Wednesday after a gloomy earnings forecast from Wal-Mart Stores dragged down shares of consumer-focused companies.

Year to date the Standard & Poor’s 500 is down 1.89%, and the Dow Jones Industrial Average is down 3.75%. China’s weak imports for September sparked concerns about demand, dampening prices of commodities. Economists polled by Reuters had expected retail sales to rise 0.2 percent, while sales in August were revised flat after a previously reported 0.2 percent increase.

USA stocks closed modestly higher Monday after wavering in a narrow range, with the Dow Jones Industrial Average on a seven-session winning streak, as investors appeared to take a pause after last week’s solid gains.

J.P. Morgan Chase & Co. shares ended 1.56, or 2.6% lower, at $59.99 after the bank missed analysts’ third-quarter estimates.

The third-quarter earnings season, which picks up steam this week, will give investors another view on economic growth.

Utility stocks led the way today with a 0.9% gain, while energy stocks were the laggards, down 1.1%.

Retail stocks have subsequently shown a notable move to the downside on the day, dragging the Dow Jones Retail Index down by 1.7%. “It’s really the calm before the earnings storm”, said Peter Boockvar, chief market analyst at The Lindsey Group.

Plus… The USA economy taps the brakes, the devastating catalyst behind Zafgen Inc’s (NASDQ:ZFGN) roller coaster, and the takeover chatter circling semiconductors.

Twitter Inc. said it would cut up to 336 jobs, or 8% of its global workforce, as the messaging service continues to struggle with user growth. Company’s shares traded 0.5 % up in extended hours trade.

The euro was up about 0.1 percent at $1.13720, consolidating recent gains, while the yen held within recent broad trading ranges carved against the greenback.

Treasury yields fell lower following the data, with the 10-year temporarily sinking beneath 2% the first time since October. 5.

There has not been much in the way of U.S. economic data for investors to get their teeth into, and the news from overseas was discouraging.

The most active gold contract for December delivery added 8.6 dollars, or 0.74 percent, to settle at 1,164.50 dollars per ounce. Oil prices regained a few of the lost ground as the US count of oil and gas drilling rigs slipped to a five-year low.