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.
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