US stocks waver in early trading

Stocks flat in early trading after two days of solid gains; Kate Spade jumps 10 percent

Associated Press
Stocks mostly higher, Japan shrugs off GDP drop
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FILE - In this Feb. 10, 2011 file photo, American flags fly in front of the New York Stock Exchange, in New York. Asian stock markets were mostly higher Tuesday, Aug. 12, 2014, as tensions over Ukraine and Iraq eased, giving investors the confidence to dip into riskier assets. European shares drifted. (AP Photo/Mark Lennihan, File)

NEW YORK (AP) -- U.S. stocks moved were mostly unchanged in early trading Tuesday following two days of gains. Investors continue to focus their attention abroad on problems in Ukraine and Iraq.

KEEPING SCORE: The Dow Jones industrial average rose three points, or 0.02 percent, to 16,573 as of 10:15 a.m. Eastern. The Standard & Poor's 500 index rose less than a point to 1,937 and the Nasdaq composite fell a point to 4,340.

GEOPOLITICAL TENSIONS: Fears of a Russian invasion of Ukraine have subsided over recent days, but geopolitical issues are likely to remain one of the key drivers in financial markets over the coming weeks. Investors also have an eye on oil-rich Iraq. On Tuesday, Iraq's embattled incumbent Prime Minister Nouri al-Maliki struggled to remain in power as Iraqi politicians and the international community rallied behind a political competitor.

IN FASHION: Kate Spade rose $3.96, or 10 percent, to $42.80 in early trading. The handbag maker's quarterly results were way ahead of what analysts were forecasting. Kate Spade said it had an adjusted profit of 5 cents a share while analysts were expecting breakeven results.

LEVEL UP: Electronic Arts rose 70 cents, or 2 percent, to $35.77. The video game publisher announced it would expand a popular video game subscription service to international markets. Subscriptions and downloadable products have become a popular business model in the video game industry in recent years, which used to be almost entirely based on one-time sales at stores.

BONDS AND ENERGY: Oil prices drifted lower, with benchmark New York crude down 89 cents at $97.20 a barrel. The yield on the 10-year Treasury note was 2.43 percent, unchanged from the prior day.

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