US STOCKS-Wall St opens lower as oil prices continue to weigh
* Alphabet surpasses Apple as most valuable US company
* Michael Kors soars after profit bests estimates
* Yahoo, Chipotle to report after the close
* Indexes down: Dow 1.23 pct, S&P 1.11 pct, Nasdaq 0.83 pct (Updates to open)
By Tanya Agrawal
Feb 2 (Reuters) - Wall Street opened lower on Tuesday as falling oil prices weighed on energy shares.
Oil prices were down 5 percent as hopes for a deal between OPEC and Russia on output cuts faded with Goldman Sachs saying it was "highly unlikely".
Shares of Exxon fell 1.7 percent after the oil major reported a 58 percent drop in quarterly profit. The stock weighed the most on the S&P 500 energy index.
Consumer savings from cheap gasoline have failed to translate into higher spending. U.S. consumers are opting to save or pay down debt rather than buying big-ticket items. Continuación...