U.S. stocks slip on oil volatility

U.S. stocks traded lower in the morning session on Monday, as investors kept a close eye on oil prices volatility ahead of a key meeting of the Organization of the Petroleum Exporting Countries (OPEC).

By noon, the Dow Jones Industrial Average shed 51.22 points, or 0.27 percent, to 19,100.92. The S&P 500 lost 7.67 points, or 0.35 percent, to 2,205.68. The Nasdaq Composite Index was down 19.78 points, or 0.37 percent, to 5,379.14.

OPEC had agreed in September to trim production amid a global glut of supply, but left the details of who cuts how much to a meeting in Vienna on Wednesday, according to the Wall Street Journal.

Oil prices zigzagged recently, with both U.S. oil and Brent crude jumping over 2 percent around midday Monday.

Meanwhile, Wall Street will focus on November's nonfarm payrolls due Friday for more indications on the timing of next interest rate hikes.

U.S. Federal Reserve is widely expected to raise interest rates at its December meeting. According to the CME Group's FedWatch tool, market expectations for a December rate hike were 98.2 percent.

U.S. stocks rallied Friday, with all three major indices refreshing closing records, as investors continued to digest the Federal Reserve's minutes from its November meeting. Enditem