UPDATE: Stocks fall at the open, with coronavirus aid in question
U.S. stocks opened mostly lower on Friday, as investors digested so-so economic data against the backdrop of stalled negotiations over extending coronavirus aid. The Dow Jones Industrial Average was down 119 points or 0.4% to open near 27,778, while the S&P 500 lost 8 points, 0.2%, to open near 3,370. The tech-heavy Nasdaq Composite index bucked the trend, opening at 11,046, up about 3 points. Retail sales volumes grew 1.2% in July, below expectations, but boosted by upward revisions to prior months. All eyes are on consumer working and spending patterns now that existing fiscal relief has expired, and negotiations for an extension seem to have broken down in Washington. Shares of Tesla Inc. (TSLA) jumped at the start of trading, opening above an earlier record of $1,643.
-Andrea Riquier; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
August 14, 2020 09:53 ET (13:53 GMT)
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