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NEW YORK (AP) — Major U.S. stock indexes are slightly lower in early trading today, as investors pore over the latest batch of company earnings news. Energy stocks were down the most as crude oil prices headed lower. Utilities bucked the downward trend and were trading higher. At 10:47 a.m. Eastern Time, the Dow was down 8 points, to 18,130. The S&P 500 was down 1 point to 2,132. And the Nasdaq was down 2 points, to 5,212.
WASHINGTON (AP) — U.S. manufacturers boosted output modestly last month, led by greater production of construction supplies, autos and petroleum products. The Federal Reserve says factory production rose 0.2 percent in September, following a decline of 0.5 percent in the previous month. The broader industrial production category, which includes mining and utilities, ticked up 0.1 percent. Even with the gain, manufacturing output has been flat in the past year.
NEW YORK (AP) — Bank of America's third-quarter profits rose nearly 6 percent from a year earlier, helped by strong results in investment banking and trading, as well as lower expenses. The consumer banking giant says it earned $4.45 billion after paying dividends to preferred shareholders in the three months ending in September, up from $4.178 billion in the same period a year earlier. Bank of America's global markets division reported net income of $1.07 billion, up from $800 million a year earlier.
TEHRAN, Iran (AP) — Iran's national oil company says it's offered 50 oil and gas fields to international bidders, the first time it's done so since last year's landmark nuclear deal with world powers. Also today, the country's deputy oil minister welcomed a preliminary agreement by OPEC nations to limit output to between 32.5 million and 33 million barrels per day. The deal was reached in late September, with the aim reducing a global glut that has depressed oil prices for over two years.
LOUISVILLE, Ky. (AP) — Union workers at the Jim Beam whisky company say they need more than a drink, they need more time off because they're overworked. Since Saturday, union workers have been picketing the world's biggest bourbon producer, saying the company needs to hire more full-time workers to keep up with booming demand. There are about 250 workers at the Jim Beam distilleries in Clermont and Boston, Kentucky.
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