U.S. stocks struggled for direction at the open on Tuesday, as investors weighed earnings from Goldman Sachs Group Inc. and Morgan Stanley as trading resumed following a three-day weekend honoring Martin Luther King Jr. The Dow Jones Industrial Average DJIA, -0.99% was down 0.2% soon after the opening bell, while the S&P 500 SPX, -0.09% edged up 0.1% and the Nasdaq Composite COMP, +0.03% was trading about flat, according to FactSet data, at last check. Goldman Sachs and Morgan Stanley on Tuesday reported their results for the fourth quarter, with Goldman GS, -7.15% missing earnings estimates while Morgan Stanley MS, +6.55% beat analysts’ forecasts. In economic data released Tuesday, the New York Fed’s Empire State business conditions index, a gauge of manufacturing activity in the state, tumbled to the lowest level since the worst of the pandemic in 2020.
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