US stock market opens lower

NEW YORK (AA) – The stock market opened lower Thursday as investors became skeptical about OPEC's decision to limit oil production.

The Dow Jones was down 13 points to begin the day at 18,325 and the S&P lost three points to start at 2,168. The Nasdaq lost eight points to open at 5,310.

Oil prices rose around 6 percent on Wednesday when OPEC was reported as reaching an agreement at an informal meeting in Algeria to trim output to 32.5 million barrels per day.

However, investors lost enthusiasm given the divisions within the cartel on Thursday over the implementation of the deal in November at OPEC's biannual meeting, according to analysts.

As a result, oil prices lost most of their gain from the previous day. When the U.S. stock market opened, American benchmark West Texas Intermediate was up only 0.1 percent to $47.08 per barrel, while international benchmark Brent crude was down 0.2 percent at $49.12.