NEW YORK (AP) — The stock market is little changed in early trading as investors weigh a budget deal out of Washington and a batch of corporate news.
The Dow Jones industrial average eased 20 points to 15,951 shortly after the market opened Wednesday. The Standard & Poor's 500 index fell four points to 1,797. The Nasdaq fell 10 points to 4,049.
Congress reached a modest U.S. budget agreement that restores about $63 billion in across-the-board automatic spending cuts.
Food Network operator Scripps Networks Interactive jumped $4.97, or 7 percent, to $80.22 after a report that the board of Discovery Communications discussed a bid for the company.
MasterCard rose $36.79, or 5 percent, to $800.40 after it announced a 10-for-1 stock split, raised its quarterly and launched a $3.5 billion stock buyback.