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Stocks Open Slightly Lower; Boeing Dips On Trump Tweet

Stocks were slightly lower in early trading Tuesday. Shares of Apple were up 1% after CEO Tim Cook defended the Apple Watch. (iStockphoto)

U.S. stocks quickly erased small gains at the opening bell Tuesday.

The Dow, S&P 500 and Nasdaq were down a fraction each.

Dow component Boeing (BA) lost 1% in early trading. President-elect Trump in a tweet said costs for a new Air Force One were out of control at more than $4 billion. At the end of the tweet, Trump wrote: "Cancel order!"

Apple (AAPL) rose a fraction at the open of the stock market today. In an e-mail to Reuters, Chief Executive Tim Cook defended the Apple Watch after a report from International Data Corp. on Monday said Apple Watch sales were down 71% from a year ago. Cook said Apple Watch sales to consumers set a record during the first week of holiday shopping, and the current quarter is on track to be the best ever for the product.

Elsewhere, Amazon.com (AMZN) extended gains early Tuesday, one day after introducing a potentially disruptive convenience store concept called "Amazon Go."

On the earnings front, a trio of names opened higher on decent results, including homebuilder Toll Brothers (TOL), which opened 1% higher; AutoZone (AZO) and HD Supply (HDS), which rose 3%. Toll Brothers is working on a cup base with a 32. 35 buy point. AutoZone is working on a cup-with-handle base with an 809.88 buy point. It opened 1% higher.

January West Texas intermediate crude oil futures were down more than 2% to $50.53 a barrel. The 10-year Treasury yield eased 1 basis point to 2.39%.

Headline flow was quiet in a light week for economic data.

October factory order data will be out at 10 a.m. ET. The only noteworthy reports for the rest of the week are weekly jobless claims on Thursday and the latest reading on consumer confidence from the University of Michigan on Friday.

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