Stocks Opened Lower ahead of Presidential Debate

U.S. stocks opened lower on Monday, as investors were reluctant to take on risk ahead of the first U.S. presidential debate. The Dow Jones Industrial Average lately lost 135.87 points, or 0.74%, to 18,125.58. The S&P 500 was down 13.02 points, or 0.60%, to 2,151.67. The Nasdaq Composite fell 37.71 points, or 0.71%, to 5,268.04.

Investors will be keeping a close eye on the first of the presidential debates between Democrat nominee Hillary Clinton and GOP nominee Donald Trump for signs of a momentum shift in the heated race.

Oil rallied on Monday as the world’s largest producers gathered in Algeria to discuss ways to support the market. Brent crude futures rose 73 cents to $46.62 a barrel by 1052 GMT, having rallied from a session low of $45.74, while U.S. crude prices rose 54 cents to $45.02 a barrel.

Smith & Wesson Holding Corp. (SWHC), the gun maker, disclosed in a filing that its bid to make replacements for the U.S. Army’s standard M9 sidearm was denied. The filing was made after Friday’s closing bell. The company said the Army deal was never included in its financial guidance.

Pfizer Inc. (PFE) said Monday that it would remain a single company, deciding not to split its established and new medical lines into separate companies.

CBOE Holdings Inc. (CBOE) confirmed Monday that it has agreed to buy Bats Global Markets Inc. BATS, -2.04% in a cash and stock deal that valued at about $3.2 billion.