Stocks Opened Lower ahead of Federal Reserve Statement

U.S. stocks opened lower on Thursday, after a post-midterm election rally, as investors await the Federal Reserve’s November policy statement. The Dow Jones Industrial Average lately rose 7.04 points, or 0.03%, to 26,187.34. The S&P 500 was down 2.34 points, or 0.08%, to 2,811.55. The Nasdaq Composite fell 10.82 points, or 0.14%, to 7,559.94.

Oil futures rose slightly Thursday, with analysts tying support to data showing strong crude imports by China in October. West Texas Intermediate crude for December delivery was up 22 cents, or 0.4%, to $61.89 a barrel. January Brent crude was up 17 cents, or 0.2%, at $72.24 a barrel.

Plug Power Inc. (PLUG) on Thursday reported a loss of $15.6 million and revenue of $55.3 million in its third quarter. Plug Power expects full-year revenue in the range of $175 million to $190 million.

Walmart (WMT) will kick off its Black Friday shopping holiday earlier than ever. Black Friday, viewed as the “Super Bowl of retail,” will start online at 10 p.m. ET on Wednesday, two hours earlier than previous years. Meanwhile, the in-store event will begin at 6 p.m. local time on Thanksgiving Day.

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