Stocks Slide At Open As OPEC Deal Skepticism Sets In

By Markets MarketWatch Pulse

U.S. stocks opened lower on Thursday as the initial enthusiasm for a preliminary agreement on an oil-production cap between the members of the Organization for the Petroleum Exporting Countries faded, helping to dull demand for stocks. The S&P 500 index was off 2 points, or 0.1%, to 2,168. The Dow Jones Industrial Average slid 19 points, or 0.1%, to 18,327. The Nasdaq Composite Index fell 6 points, or 0.1%, to 5,312. That OPEC members had agreed on the need to cap oil production set off a rally in oil prices on Wednesday, which helped lifted stocks in the second-half of the session. But oil prices have since turned lower.

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