Stocks Opened Lower on Short Trading Day

U.S. stocks opened lower on a shortened trading day Friday. Markets are scheduled to close at 1 p.m. ET. The Dow Jones Industrial Average lately fell 96.70 points, or 0.34%, to 28,067.30. The S&P 500 was down 8.38 points, or 0.27%, to 3,145.25. The Nasdaq Composite lost 26.56 points, or 0.31%, to 8,678.62.

Oil prices slipped Friday, as the possible approval of a production cut extension at next week’s OPEC meeting and cautious optimism for a U.S.-China trade pact have underpinned bullish sentiment in the energy markets. West Texas Intermediate crude futures for January delivery fell 9 cents, or 0.1%, at $58.02 a barrel. January Brent crude fell 64 cents, or 1%, at $63.42 a barrel.

The consumer is in focus as the holiday shopping season rages on with a bulk of shopping expected to happen on Black Friday. Shoppers are expected to spend a total of $7.5 billion on Black Friday and $9.4 billion on Cyber Monday, according to Adobe Analytics.