NEW YORK: Wall Street stocks were mostly negative early Tuesday, opening a new month uncertainly after a bruising January dominated by worries over inflation and shifting monetary policy.
The early losses in the S&P 500 and Nasdaq threatened a two-day winning streak for stocks that offset some of last month's declines.
About 25 minutes into trading, the Dow Jones Industrial Average was up 0.1 percent at 35,168.89.
The broad-based S&P 500 shed 0.1 percent to 4,509.21, while the tech-rich Nasdaq Composite Index dropped 0.6 percent to 14,151.57.
Stocks have been under pressure as the Federal Reserve has shifted policy and signaled a likely interest rate hike in March. Investors have also been monitoring ongoing tensions in Ukraine and the ebbs and flows of Covid-19.
Among individual companies, UPS rocketed 13.5 percent higher after lifting its dividend payment by 49 percent to $1.52 a share following a jump in 2021 earnings.
ExxonMobil rose 3.4 percent after the oil giant reported annual profits of $23 billion last year compared with a loss of $22.4 billion in 2020 when demand was dented by the Covid-19 lockdowns. High oil prices helped boost results again during the quarter, although increased costs cut into gains in some operations.