Investing.com – Wall Street opened lower on Monday, as investors paused on the Veterans Day holiday and a rebound in oil provided some relief for energy companies.
The S&P 500 fell 18 points, or 0.65%, to 2,762.82 as of 9:42 AM ET (14:42 GMT), while the Dow decreased 139 points, or 0.53%, to 25,850.26 and the tech-heavy Nasdaq Composite was down 100 points, or 1.35%, to 7,306.71.
Trading is expected to be slower on Monday, with the U.S. bond market closed for Veterans Day.
Brent crude futures surged 0.85% after Saudi Arabia said it would cut oil shipments in December. The news helped lift energy stocks, with Exxon (NYSE:XOM) rising 0.53%. Chevron (NYSE:CVX) increased 0.89% and ConocoPhillips (NYSE:COP) rose 1.23%.
Medical marijuana companies were higher. Tilray (NASDAQ:TLRY) rose 2.60%, while Aurora Cannabis (NYSE:ACB) was up 0.82% and Cronos (NASDAQ:CRON) gained 1.19%.
Meanwhile, technology stocks were hit, with Amazon.com (NASDAQ:AMZN) down 2.36%, while Facebook (NASDAQ:FB) fell 0.91%. Apple (NASDAQ:AAPL) lost 3.58% after the company warned its iPhone X models have touch issue on the display screen.
Alibaba (NYSE:BABA) inched down 0.26% despite its Singles' Day event taking in a record $30.7 billion in sales, as it posted the slowest growth in the event's 10-year history.
In commodities, gold futures fell 0.05% to $1,205.80 a troy ounce, while the U.S. dollar index, which measures the greenback against a basket of six major currencies, rose 0.44% to 97.16.