U.S. Stocks Open Steady and Mixed, Oil Prices Tumble on Iran Deal

U.S. stocks opened steady and mixed Tuesday but oil prices tumble on the Iranian nuclear deal. The deal reached with 6 world powers would lift sanctions on Iranian oil, potentially flooding the market. President Obama says while the deal has faults, it was an opportunity worth seizing. JP Morgan Chase (JPM) second quarter profit increased as the firm benefitted from strong trends in lending and corporate deals. The largest U.S. bank by assets reported a profit of $6.29 billion or $1.54 a share. Retail sales in June rose .3%, worse than expected. Micron Technology (MU) is a buyout target of China's Tsinghua, according to Dow Jones. The deal could be worth as much as $23 billion. Johnson & Johnson (JNJ) earnings beat expectations.