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

Futures tracking both the indexes turned marginally positive shortly before the open, as positive data from US drugmaker Pfizer and German biotech firm BioNTech on their experimental coronavirus vaccine showed it was safe and induced an immune response in patients.

July 20, 2020 / 07:22 PM IST

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 US drugmaker Pfizer and German biotech firm BioNTech on their experimental coronavirus vaccine showed it was safe and induced an immune response in patients.

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

 
Reuters

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