Stocks Opened Higher, Eyed on Coronavirus Outbreak

U.S. stocks open higher on Monday, as market participants continued tracking the spread of the coronavirus. The Dow Jones Industrial Average lately rose 84.10 points, or 0.39%, to 21,720.88. The S&P 500 advanced 24.31 points, or 0.95%, to 2,565.78. The Nasdaq Composite gained 90.54 points, or 1.21%, to 7,592.92.

Oil futures are getting the week off to an ugly start, as the global COVID-19 pandemic crushes demand and a price war between Saudi Arabia and Russia floods the world with crude. West Texas Intermediate crude for May delivery fell $1.17, or 5.4%, to $20.34 a barrel. June Brent crude was down $1.60, or 5.7%, at $26.35 a barrel.

On Sunday, President Donald Trump said during a news conference that he was extending guidelines for citizens to remain socially distanced through April 30. Other countries also recently extended their timelines for when restrictions aimed at containing the coronavirus outbreak would ease.