US stocks mixed as trade deficit ebbs

NEW YORK: Wall Street stocks were mixed early Tuesday as markets digested data showing a lower US trade deficit ahead of a key inflation report later in the week.

The US trade deficit dipped by $6.1 billion to $68.9 billion in April, slightly larger than expected, as exports rose and imports fell, according to Commerce Department data.

Equities have been choppy in recent weeks as investors have assessed the upside of the reopening economy against worries over inflation and supply chain troubles.

This week's calendar includes crucial consumer price data on Thursday that could either exacerbate or mitigate inflation worries.

About 25 minutes into trading, the Dow Jones Industrial Average was down 0.2 percent to 34,575.43.

The broad-based S&P 500 was flat at 4,226.59, while the tech-rich Nasdaq Composite Index gained 0.5 percent to 13,943.96.

So-called "meme stocks" were rallying in the early going, with AMC Entertainment up 4.5 percent and GameStop surging 15.6 percent.