Stocks Opened Lower ahead of Trump-Xi Meeting

U.S. stocks opened modestly lower on Friday, as investors prepare for a highly anticipated meeting between President Donald Trump and Chinese leader Xi Jinping on the sidelines of the G-20 summit in Argentina. The Dow Jones Industrial Average lately fell 54.19 points, or 0.21%, to 25,284.65. The S&P 500 retreated 1.41 points, or 0.05%, to 2,736.35. The Nasdaq Composite fell 4.80 points, or 0.07%, to 7,268.28.

Oil prices fell on Friday, after bouncing Thursday on reports that Russian officials are signaling a likely output cut in tandem with other major producers. West Texas Intermediate crude for January delivery fell 87 cents, or 1.7%, to $50.58 a barrel. The January Brent crude was down 61 cents, or 1%, at $58.90 a barrel.