Stocks Opened Lower, Oil Prices Rose

U.S. stocks opened slightly lower on Monday as losses in technology names offset gains in energy stocks following a rise in crude oil prices. The Dow Jones Industrial Average lately fell 16.55 points, or 0.07%, to 25,041.57. The S&P 500 was down 1.77 points, or 0.06%, to 2,800.06. The Nasdaq Composite dropped 23.92 points, or 0.31%, to 7,796.28.

Oil prices rose early Monday amid a testy exchange between U.S. and Iranian leaders that underline fears about the potential for disruptions to output in the Middle East, which could lift crude futures. September Brent crude traded 91 cents, or 1.3%, higher at $73.98 a barrel. September West Texas Intermediate crude added 72 cents, or 1%, to $68.95 a barrel.

Alphabet (GOOG, GOOGL) on Monday reports second-quarter earnings after the markets close. The European Union’s $5.07 billion Android antitrust fine will ruin the company’s profit. In terms of what it will cost the company in cash, the fine is not tax-deductible and worth roughly 75% of the company’s expected second-quarter net income of $6.72 billion, which will drastically lower per-share earnings as well.

Tesla Inc. has asked some suppliers to refund a portion of what the electric-car company has spent previously, an appeal that reflects the auto maker’s urgency to sustain operations during a critical production period.

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