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

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.