Stocks Opened Lower ahead of Earnings Season

U.S. stocks opened lower on Monday, as investors prepared for a bleak first-quarter earnings season that will see results and outlooks hammered as a result of the COVID-19 pandemic. The Dow Jones Industrial Average lately fell 302.64 points, or 1.28%, to 23,416.73. The S&P 500 declined 32.46 points, or 1.16%, to 2,757.36. The Nasdaq Composite retreated 50.91 points, or 0.62%, to 8,102.67.

Crude prices swung between gains and losses Monday, a day after major oil producers reached a historic agreement to cut oil production. West Texas Intermediate crude for May delivery was up 27 cents, or 1.2%, at $23.03 a barrel. Brent crude was up 11 cents, or 0.3%, at $31.59 a barrel.