U.S. stocks opened lower Thursday, weighed down by falling oil prices and as data on private-sector hiring pointed to continued strength in the labor market, increasing the likelihood of a rate increase this summer. Investors were closely watching a meeting of the Organization of the Petroleum Exporting Countries and European Central Bank President Mario Draghi’s news conference. A retreat in oil prices weighed on energy shares. The S&P 500 index fell 6 points, or 0.2%, to 2,093, The Dow Jones Industrial Average fell 60 points, or 0.4%, to 17,727, while the Nasdaq Composite began the day down 14 points, or 0.3%, to 4,938.
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