Stocks Dipped at Open as Geopolitical Risk Lingered

U.S. stocks opened slightly lower on Thursday as investors refrained from buying risky assets such as global equities amid a tense geopolitical backdrop. The Dow Jones Industrial Average lately fell 35.08 points, or 0.17%, to 20,616.22. The S&P 500 was down 3.38 points, or 0.14%, to 2,350.40. The Nasdaq Composite shed 3.98 points, or 0.07%, to 5,862.80.

Crude oil prices rose for a seventh session in a row on Wednesday, boosted by expectations that major oil producers will extend their output cuts to accelerate a rebalance in the market. Light, sweet crude futures for delivery in May added 30 cents, or 0.6%, to $53.70. June Brent crude added 36 cents, or 0.6%, to $56.58 a barrel.

The price of U.S. imports fell in March for the first time in four months owing to lower costs for oil, but prices of many other goods continued to rise. The import price index dropped 0.2% in March, the government reported Wednesday. It’s the first decline since November.

BlackBerry Ltd. (BBRY) said Wednesday it has been awarded $814.9 million in a binding interim arbitration decision against Qualcomm Inc. (QCOM) A final award, including interest and legal fees will be issued after a May 30 hearing, the Canadian mobile device maker said in a statement.