Stocks open little changed

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Associated Press

Posted on December 11, 2013 at 8:01 AM

Updated Wednesday, Dec 11 at 8:08 AM

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.

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