US: S&P 500, Dow open flat as Covid-19 cases climb

[NEW YORK] 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 positiveshortly 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 per cent, at the open to 26,660.29, and the S&P 500 opened lower by 0.44 points, or 0.01 per cent, at 3,224.29. The Nasdaq Composite gained 22.83 points, or 0.22 per cent, to 10,526.02 at the opening bell.

REUTERS