Stocks Opened Lower ahead of Data

U.S. stocks opened lower on Monday, ahead of economic data that would give investors further clues on the health of the economy. The Dow industrials lately fell 86.46 points, or 0.47%, to 18,221.69. The S&P 500 slipped 9.89 points, or 0.46%, to 2,158.38. The Nasdaq Composite was off 21.84 points, or 0.41%, to 5,290.16.

Oil rose to its highest since August above $50 a barrel on Monday, supported by a planned production cut by exporter club OPEC. December Brent crude futures were last up 40 cents at $50.59 a barrel by 1200 GMT, off a session low of $49.74, while U.S. crude futures rose 42 cents to $48.66 a barrel.

Ford Motor Co. (F) said Monday that total September U.S. vehicle sales fell 7.7% from a year ago to 221,599 vehicles, as an 8.1% slide in sales of Ford branded vehicles offsetting a 1.3% increase in Lincoln vehicles.

Cabela’s Inc. (CAB) soared in premarket trade Monday, after the sporting goods retailer announced a deal to be acquired by Bass Pro Shops in a deal valued at $5.5 billion. Under terms of the deal, Bass Pro Shops will pay $65.50 for each Cabela’s share outstanding, which represents a 19% premium to Friday’s closing price of $54.93.