Stocks Opened Lower, Oil Rebounded

U.S.stocks opened lower and oil prices snapped a 10-day losing streak on Monday. The Dow Jones Industrial Average lately fell 216.93 points, or 0.83%, to 25,772.37. The S&P 500 was down 26.09 points, or 0.94%, to 2,754.92. The Nasdaq Composite dropped 129.62 points, or 1.75%, to 7,277.28.

Oil prices flipped positive on Monday, as OPEC and its allies signaled a willingness to again cut production amid hefty global supply. West Texas Intermediate crude for December delivery rose 25 cents, or 0.4%, at $60.44 a barrel. January Brent crude rose 68 cents, or 1%, to $70.86 a barrel.

German business software company SAP will buy Qualtrics International Inc for $8 billion in cash, pre-empting a planned stock market listing by the U.S.-based company that specialises in surveying consumers online.