Stocks Narrowly Mixed in Early Trade

Stocks Narrowly Mixed in Early Trade

NEW YORK (AP) -- Stock indexes were narrowly mixed in early trading Monday as investors worked through several company announcements. Global markets were modestly higher.

KEEPING SCORE: The Dow Jones industrial average edged up six 24 points, less than 0.1 percent, to 17,799 as of 10:09 a.m. Eastern. The Standard & Poor's 500 index was up a fraction at 2,073 and the Nasdaq composite edged up two points to 4,917.

FIRST CLASS: Virgin America jumped $15.50, or 40 percent, to $54.40 after the company agreed to be bought by Alaska Air Group. Shares of Alaska Air fell $3.90, or 5 percent, to $78.04. JetBlue, which had bid for Virgin as well, fell 60 cents, or 3 percent, to $20.71.

IT'S ELECTRIC: Tesla Motors rose $8.40, or 4 percent, to $246.40 after the company announced it had received 276,000 preorders for its highly anticipated Model 3, which is unveiled on Thursday.

OVERSEAS: European stocks were modestly higher. Germany's DAX gained 0.4 percent, France's CAC-40 rose 0.6 percent and the U.K.'s FTSE 100 edged up 0.4 percent.

OIL: Oil prices seesawed as investors digested reports that Saudi Arabia would freeze its production only if Iran and other producers agreed to do the same. Benchmark U.S. crude rose 29 cents $37.08 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, added 9 cents to $38.77 a barrel in London.

U.S. JOBS: The U.S. government said Friday that job growth continued at a strong clip in March, slightly stronger than investors expected and showing employers were confident enough to add staff despite the slowing economy. Employers added 215,000 jobs last month, a solid figure but not enough to keep up with the new job-seekers. More people also looked for work and wages edged higher.

BONDS, CURRENCIES: Bond prices fell slightly. The yield on the 10-year Treasury note rose to 1.78 percent. The euro rose to $1.14 from $1.1394 while the dollar fell to 111.41 yen from 111.66 yen.