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U.S. Markets Open Mixed, IEA Sees Further Oil Price Drop

2/09/16 10:19 AM EST
Stocks looked to extend Monday's losses in Tuesday's sessions as overseas markets were hit with heavy selling. Japan's stock market fell more than 5% overnight. Oil prices are under pressure again Tuesday as the International Energy Agency said demand would fall further this year. On Monday, Chesapeake Energy lost a third of its value on concerns about its future. Several big companies are out with earnings including Coca-Cola (KO). The beverage maker beat expectations and saw a global increase in growth. CVS (CVS) reported earnings that matched expectations, but troubled retailer Sears issued prelimary results that fell below estimates, citing a challenging holiday season. Sears (SHLD) said it will continue to close struggling stores. As stocks remained under pressure investors moved into safer assets like bonds and gold. Gold sent a new high for 2016 on Monday, rising about 12 hundred and ounce, while interest rates fell again... the rate on the 30 year bond slipped to 2.5%, approaching a record low set about a year ago. TheStreet's Rhonda Schaffler reports from Wall Street.
Stocks in this video: SHLDCVSKO
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