US stock market opens mixed as oil tumbles

AP News
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Posted: Nov 28, 2014 9:40 AM

NEW YORK (AP) — 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 percent, to 17,845 as of 9:35 a.m. Eastern time Friday. The Nasdaq climbed seven points, or 0.1 percent, to 4,793.

The Standard & Poor's 500 index eased four points, or 0.2 percent, to 2,068.

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 percent to $69.41.

U.S. stock markets will be closed at 1 p.m. Friday.