Stocks Opened Lower as Coronavirus Fears Lingered

U.S. stocks opened slightly lower on Thursday, as coronavirus developments and corporate earnings results remained key focuses for investors. The Dow Jones Industrial Average lately shed 42.85 points, or 0.15%, to 29,305.18. The S&P 500 fell 4.71 points, or 0.14%, to 3,381.44. The Nasdaq Composite retreated 23.84 points, or 0.24%, to 9,793.34.

Oil futures found support on Thursday, partly on the back of expectations that efforts by China to stimulate the economy will blunt the hit to crude demand from the country’s COVID-19 outbreak as well as the prospect of a further squeeze on Venezuelan exports. West Texas Intermediate crude for April delivery rose 66 cents, or 1.2%, to $54.15 a barrel, while April Brent crude edged up 11 cents, or 0.2%, to $59.23 a barrel.