Stocks Slipped at Open

U.S. stocks fell at the open on Monday, ahead of a the start of first-quarter earnings season. The Dow Jones Industrial Average lately fell 142.26 points, or 0.54%, to 26,282.73. The S&P 500 retreated 8.83 points, or 0.31%, to 2,883.91. The Nasdaq Composite gave up 32.64 points, or 0.41%, to 7,906.05.

Brent crude hit fresh five-month highs in Monday action, and U.S.-traded oil was tagging along in step, both boosted by signs that trade tensions are easing between the U.S. and China, as well as continued expectations for tighter global supplies. June Brent rose 46 cents, or 0.7%, to $70.80 a barrel. West Texas Intermediate crude for May delivery rose 40 cents, or 0.6%, to $63.48 a barrel.

Boeing (BA) announced plans to cut production of its 737 MAX airplanes by 20% after two recent deadly crashes. Beginning in mid-April, Boeing will cut production of the aircraft, from 52 per month, to 42. Boeing suppliers’ shares also took a hit on the announcement.