U.S. stock benchmarks opened higher on Monday, even as investors wrestled with rising coronavirus cases. Financial markets in the U.S. will be closed on Friday in observance of the Fourth of July holiday. Appetite for risk has been tentative in recent trade limited as coronavirus cases world-wide surpassed 10 million, with more a half-million deaths. The U.S. recorded more than 42,000 new cases Saturday, according to data compiled by Johns Hopkins University. The Dow Jones Industrial Average rose 208 points, or 0.8%, at 25,215, those for the S&P 500 index climbed 0.4% at 3,020, while the Nasdaq Composite Index traded flat at 9,748 as technology shares were under pressure. In corporate news, Boeing's stock (BA) was providing a lift to the broader market as U.S. air-safety regulators are set to begin key flight tests on the embattled 737 MAX. Meanwhile, Chesapeake Energy Corp. (CHK) said Sunday that the oil fracking pioneer had filed for bankruptcy protection. In economic news, investors await a report on pending home sales at 10 a.m. Eastern time and at 3 p.m., the New York Fed President John Williams will talk to International Monetary Fund Managing Director Kristalina Georgieva.
-Mark DeCambre; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
June 29, 2020 09:45 ET (13:45 GMT)
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