Stocks Opened Lower, Oil Extended Gains

U.S. stocks opened modestly lower and crude oil fought to hold onto gains on Thursday morning. The Dow Jones Industrial Average lately fell 113.05 points, or 0.45%, to 24,967.45. The S&P 500 shed 13.30 points, or 0.49%, to 2,688.28. The Nasdaq Composite declined 15.44 points, or 0.22%, to 7,120.95.

U.S. oil prices resumed their slide early Thursday, amid persistent concerns for the market’s oversupply picture as top producers the U.S., Saudi Arabia and Russia all continue to pump abundant oil. West Texas Intermediate crude for December delivery CLZ8, +0.52% slipped 7 cents, or 0.1%, to $56.18 a barrel. January Brent added 40 cents, or 0.6%, to $66.52 a barrel. Its close at $65.47 a barrel.
Walmart (WMT), the world’s largest retailer, reported stronger-than-expected earnings on Thursday, driven by strength in the e-commerce business. for the third quarter, it reported adjusted earnings per share of $1.08 and comparable store sales grew at 3.4%.

J.C. Penney Co Inc (JCP) withdrew its annual earnings forecast on Thursday, adding to nerves about the future of another one of America’s best known retail names ahead of the crucial holiday selling season.