Stocks Opened Slightly Higher for Hectic Week of Data

U.S. stocks opened slightly higher and turned negative on Monday as investors prepare for a busy week of economic releases. The Dow Jones Industrial Average lately fell 15.53 points, or 0.09%, to 17,782.96. The S&P 500 was down 2.22 points, or 0.11%, to 2,087.89. The Nasdaq Composite was up 1.88 points, or 0.04%, to 5,129.40.

Data we’re expecting include Pending Home Sales on Monday, followed by Construction Spending plus Auto and Truck Sales on Tuesday. On Wednesday, ADP Employment and Productivity and Labor costs release, as well as the Fed’s Beige Book.

The Federal Reserve Board on Monday approved a proposal to curb its emergency lending powers, a change demanded by Congress after the central bank’s controversial decision to aid AIG (AIG.N), Citigroup (C.N) and others in 2008.

Ford Motor Co said on Monday it will incur a $600 million expense this year tied to its new four-year contract with the United Auto Workers union in the United States.

The world’s biggest pension fund posted its worst quarterly loss since at least 2008 after a global stock rout in August and September wiped $64 billion off the Japanese asset manager’s investments.

Oil prices rose on Monday as investors took positions ahead of an OPEC meeting this week. Brent crude, the global oil benchmark, was trading up 51 cents at $45.37 a barrel at 1316 GMT. U.S. crude futures were 48 cents higher at $42.19 per barrel.

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