US Stocks Move Lower, Oil Prices Pull Back After Spike

A woman wearing a protective mask walks in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm Friday, March 19, 2021, in Tokyo. Asian stock markets followed Wall Street lower on Friday after rising U.S. bond yields pulled stocks lower, dampening enthusiasm driven by the Federal Reserve's promise of low interest rates. (AP Photo/Eugene Hoshiko)

(AP) — Stocks were mostly lower in early trading Tuesday, as U.S. trading resumed after the Independence Day holiday and investors reassess after last week’s record highs. The S&P 500 index was down 0.3%. The Dow Jones Industrial Average fell 0.7% and the Nasdaq Composite was up 0.2%. Oil prices pulled back after jumping overnight when talks among members of the OPEC cartel and allied oil producing countries broke off in the midst of a standoff with the United Arab Emirates over production levels. The U.S. benchmark crude oil price fell 1% to $74.49; it earlier rose to $76.98, the highest level since November 2014.

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