U.S. Stocks Open Lower; Baker Hughes Soars
The U.S. stock market opened slightly lower on Monday as news that Japan fell into recession, as well softer-than-expected manufacturing data weighed on sentiment. Both the Empire State manufacturing index and industrial production came in below forecasts. Deal news is likely to grab investors' attention, after Halliburton Co. agreed to purchase its rival oil-services provider in a cash-and-stock deal valued at $34.6 billion. The S&P 500 opened 2 points, or 0.1%, lower at 2,037.66. The Dow Jones Industrial Average lost 15 points, or 0.1%, to 17,621.50. The Nasdaq Composite began the day 10 points, or 0.2%, lower at 4,678.59.
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