WASHINGTON: US stocks opened lower Monday following a four-session winning streak as investors looked ahead to a week rich in economic data.
About five minutes into trading on the first full day back from the Thanksgiving holiday weekend, the Dow Jones Industrial Average, S&P 500 and Nasdaq were all trading 0.2 percent lower at 19,114.75, 2,209.69 and 5,386.83 respectively.
Oil prices rebounded at the start of the week after turning sharply lower on Friday as investor hopes of a production deal by crude producing countries faded. Saudi officials said early Monday they would not join a meeting with Russian officials.
Exxon Mobil opened 0.3 percent lower but other US oil-related stocks were in positive territory, with ConocoPhillips up one percent and Marathon Petroleum gaining 0.7 percent.
Online retailers were bracing for the "Cyber Monday" rush of orders during a day of heavy sales and promotions. Amazon lost 1.3 percent near the start of trading while eBay was down 0.8 percent and crafts marketplace Etsy was 0.5 percent lower.
The Commerce and Labor departments this week are due to report on economic growth and monthly job creation, with investors looking to see if markets will extend a record-breaking post-election rally further into the holiday period.
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