U.S. stocks opened little changed on Monday as investors remained on the sidelines ahead of this week’s Federal Reserve meeting. The Dow Jones Industrial Average lately fell 17.26 points, or 0.08%, to 20,885.72. The S&P 500 was off 0.51 point, or 0.02%, to 2,372.09. The Nasdaq Composite was up 3.77 points, or 0.06%, to 5,865.50.
Oil hovered around three-month lows on Monday, as rising U.S. inventories and drilling activity offset optimism over OPEC’s efforts to restrict crude output. Brent crude was down 7 cents on the day, at $51.30 a barrel by 1202 GMT, having hit a session trough of $50.85. U.S. West Texas Intermediate crude (WTI) fell 15 cents to $48.34 a barrel.
U.S. chipmaker Intel (INTC) agreed to buy driverless technology firm Mobileye (MBLY) for $15.3 billion on Monday, positioning itself for a dominant role in the autonomous-driving sector after missing the market for mobile phones.
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