NEW YORK (Reuters) - U.S. stocks opened with slight gains on Tuesday as investors continued to be cautious amid persisting tensions in Ukraine, while the S&P 500 was within striking distance of its recent record high. The Dow Jones industrial average was up 14.52 points, or 0.09 percent, at 16,433.20. The Standard & Poor's 500 Index was up 2.18 points, or 0.12 percent, at 1,879.35. The Nasdaq Composite Index was up 8.21 points, or 0.19 percent, at 4,342.66. (Reporting by Ryan Vlastelica; Editing by Nick Zieminski)
U.S. wholesale inventories rose more than expected in January, as companies built up stocks of autos and machinery, though sales posted their largest decline in nearly five years. The Commerce Department said on Tuesday wholesale inventories rose 0.6 percent to $521.2 billion after a revised 0.4 percent gain in December. Economists polled by Reuters expected stocks of unsold goods at wholesalers to rise 0.4 percent in January. Excluding autos, wholesale inventories rose 0.4 percent in January.
Trade on the NYSE Euronext pan-European stock market was suspended for nearly an hour on Tuesday because of a technical problem that forced traders to place orders offline. NYSE Euronext declined to comment on the incident. In 2011, NYSE Euronext had a series of technical incidents including one in which the operator suspended Euronext indices for more than an hour and a half due to a problem with one of its programmes.
The Bank of England's top management moved quickly as soon as it learned that staff might not have acted on signs of possible manipulation of foreign exchanges rates and the Bank is being relentless in its investigations, Governor Mark Carney said. The BoE last week suspended an official amid an internal review into whether Bank staff failed to flag up signs that foreign exchange traders exchanged client orders to manipulate daily benchmark exchange rates, dating as far back as 2006. Carney, facing questions from lawmakers about the case, said he and other top officials at the BoE first became aware of the allegations on October 16 last year and he told the Bank's governing board, its Court of Directors, on the same day. "We convened governors, we decided to launch an investigation within 48 hours, we retained external council and they had begun a very thorough, systematic, relentless investigation," he said.
Chinese PC maker Lenovo Group Ltd said it was up to IBM to resolve a wildcat strike at a China-based factory, as a deal to buy the U.S. company's server business had yet to be finalized. More than 1,000 workers went on strike last week to protest over the terms of their potential transfer to Lenovo, which said in January it would buy one of the server businesses of International Business Machine (IBM) for $2.3 billion. In a statement posted on its website late on Monday, Lenovo said the strike was an internal matter for IBM but it also pledged to maintain the salaries and benefits of all workers that chose to stay with the company after the deal is completed. More than 7,500 IBM employees in more than 60 countries were expected to transfer to Lenovo once the deal is completed, Lenovo said.