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U.S. stocks open lower ahead of data

Xinhua, October 3, 2016 Adjust font size:

U.S. stocks opened lower on Monday, the first trading day of the fourth quarter, as Wall Street looked forward to economic data for more indications on the country's economy health.

Investors will eye on the Purchasing Managers' Index (PMI) from the Institute for Supply Management (ISM) and the Markit due later Monday.

Meanwhile, oil prices were in focus after the Organization of the Petroleum Exporting Countries reached a deal last week to cut oil output for the first time since 2008.

Overseas, markets in China were closed for holidays.

Tokyo stocks closed higher Monday as the yen's retreat against the U.S. dollar lifted investor sentiment and sent exporter issues higher, while easing concerns about Deutsche Bank's financial predicament added to an upbeat market mood.

Shortly after the opening bell, the Dow Jones Industrial Average shed 72.18 points, or 0.39 percent, to 18,235.97. The S&P 500 lost 7.62 points, or 0.35 percent, to 2,160.65. The Nasdaq Composite Index was down 12.40 points, or 0.23 percent, to 5,299.60.

U.S. stocks wavered for the last week as investors pondered over uncertainties both in the United States and across the world. Endi