US stock indexes open mixed as benchmark crude falls; airlines up but energy shares fall
NEW YORK, N.Y. – U.S. stocks are opening mixed as tumbling oil prices weigh on energy shares but give a lift to airlines and delivery companies.
The Dow Jones industrial average rose 18 points, or 0.1 per cent, to 17,845 as of 9:35 a.m. Eastern time Friday. The Nasdaq climbed seven points, or 0.1 per cent, to 4,793.
The Standard & Poor’s 500 index eased four points, or 0.2 per cent, to 2,068.
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Market players were focused on Thursday’s decision by the OPEC oil cartel to keep crude production at 30 million barrels a day despite global oversupply. The move hit oil prices as traders anticipated supply levels at their current rates at least for a few months yet.
Benchmark U.S. oil slid 6 per cent to $69.41.
U.S. stock markets will be closed at 1 p.m. Friday.
