U.S. Stocks Open Lower, Oil Prices Slide on Bearish Goldman Call

U.S. stocks opened lower Friday but oil was the market to watch. Goldman Sachs issued a report saying the chances oil could slide to $20 a barrel are increasing. The report cites large supplies. Adding to the bearishness was news that Saudi Arabia won't support an OPEC emergency meeting to discuss falling prices. Producer Prices in August were unchanged but then you take out food and energy, they were slightly higher. Marvell Technology (MRVL) disclosed an accounting audit. Chevron's (CVX) stock was upgraded by JP Morgan Chase saying pessimism about a possible dividend cut was already priced into the stock. Beijing is reportedly considering injecting more than 1 trillion yuan into the economy. Verizon's (VZ) new mobile video service, GO90, may expand into TV streaming if it works in grabbing Millennials' attention.