Stocks Opened Mixed, Oil Prices Rose

U.S. stocks opened mixed on Monday, following upbeat news on Friday from the labor market and the Federal Reserve. The Dow Jones Industrial Average lately shed 37.38 points, or 0.16%, to 23,395.78. The S&P 500 was up 0.24 point, or 0.01%, to 2,532.18. The Nasdaq Composite rose 32.01 points, or 0.47%, to 6,770.87.

U.S. equities posted a strong first week of trading in the new calendar year, with each of the three major indices advancing by more than 1.5% during the holiday-shortened week.

Oil prices headed for a fifth straight day of gains Monday, with last week’s upbeat sentiment on supply restraint and softening concern for a weaker U.S. economy carrying over to a new week. West Texas Intermediate crude for February delivery added 94 cents, or 1.9%, to $48.90 a barrel. March Brent crude added 90 cents, or 1.6%, to $57.96 a barrel.