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S&P 500, Dow open flat as COVID-19 cases climb

Published 2020-07-20, 08:55 a/m
© Reuters. Traders wearing masks work, on the first day of in-person trading since the closure during the outbreak of the coronavirus disease (COVID-19) on the floor at the NYSE in New York
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(Reuters) - The S&P 500 and Dow indexes opened nearly flat on Monday as concerns about a jump in COVID-19 cases curbed risk appetite, with investors also hoping for more stimulus to shore up a battered global economy.

Futures tracking both the indexes turned marginally positive shortly before the open, as positive data from U.S. drugmaker Pfizer (N:PFE) and German biotech firm BioNTech (O:BNTX) on their experimental coronavirus vaccine showed it was safe and induced an immune response in patients.

© Reuters. Traders wearing masks work, on the first day of in-person trading since the closure during the outbreak of the coronavirus disease (COVID-19) on the floor at the NYSE in New York

The Dow Jones Industrial Average (DJI) fell 11.66 points, or 0.04%, at the open to 26,660.29, and the S&P 500 (SPX) opened lower by 0.44 points, or 0.01%, at 3,224.29. The Nasdaq Composite (IXIC) gained 22.83 points, or 0.22%, to 10,526.02 at the opening bell.

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