PFE

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

Credit: REUTERS/BRENDAN MCDERMID

July 20 (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 PFE.N and German biotech firm BioNTech BNTX.O on their experimental coronavirus vaccine showed it was safe and induced an immune response in patients.

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.

(Reporting by Devik Jain in Bengaluru; Editing by Shounak Dasgupta)

((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 206))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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