U.S. stocks opened little changed Monday following last week’s gains that brought the S&P 500 within a whisker of a record closing high.
On Monday, the market’s expectations of a Federal Reserve interest-rate hike this year appeared to wane, while a sharp drop in oil prices dampened risk appetite. Investors also braced for data on U.S. manufacturing that could help shape future U.S. monetary policy.
The Dow Jones Industrial Average added 10 points, or less than 0.1%, to 18,442, the S&P 500 index SPX, was unchanged at 2,173, while the Nasdaq Composite Index rose 5 points, or 0.1%, to 5,166.
Among individual companies, Tesla Motors Inc. and SolarCity Corp. up over 7% premarket before being halted, after the two companies said they have reached a merger agreement.