Stocks Slip as Oil Prices Rise; Cyber Monday in Focus

U.S. stocks wavered Monday as oil prices rose 2.5%.
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U.S. stocks moved lower Monday even as oil prices rose 2.5%. Reports surfaced that Iraq was willing to cooperate with OPEC as the cartel attempts to reach an agreement to cut production. But Saudi Arabia's oil minister said the supply and demand discrepancies in the markets will balance out even without a deal, leaving investors skeptical of a finalized agreement. A decision is expected Wednesday. In other oil news, oil driller Schlumberger (SLB) - Get Report inked a preliminary agreement to study an oil field in Iran, according to The Wall Street Journal, even as President-elect Donald Trump has signaled his desire to withdraw from the landmark Iran nuclear agreement. Retail stocks like Walmart (WMT) - Get Report , Target (TGT) - Get Report and Amazon (AMZN) - Get Report are in focus as consumers hit the Web for Cyber Monday deals. Online sales could reach $3.3 billion, according to an Adobe estimate. TheStreet's Scott Gamm reports from Wall Street.