Stocks drift after a three-day slump; Lilly falls

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Associated Press

Posted on April 8, 2014 at 7:01 AM

Updated Tuesday, Apr 8 at 7:07 AM

NEW YORK (AP) — Stocks are drifting mostly higher in early trading on Wall Street as the market stabilizes after a three-day slump.

Investors will start to focus on company earnings this week. Aluminum maker Alcoa reports earnings after the close of trading Tuesday.

The Standard & Poor's 500 index rose three points, or 0.2 percent, to 1,848 in the first few minutes of trading. Energy stocks and companies that make basic materials rose the most.

The Dow Jones industrial average rose 10 points, less than 0.1 percent, to 16,256.

The Nasdaq composite rose 15 points, or 0.4 percent, to 4,094.

Eli Lilly fell 1 percent after a U.S. jury ordered Lilly and the Japanese drugmaker Takeda Pharmaceutical to pay $9 billion in damages over a diabetes medicine linked to cancer.

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