Stocks Opened Mostly Lower amid Rising Coronavirus Cases

U.S. stocks opened modestly lower on Monday as investors weighed prospects that the virus-stricken economy would rebound quickly against fears over rising COVID-19 case counts. The Dow Jones Industrial Average lately fell 105.71 points, or 0.41%, to 25,765.75. The S&P 500 declined 5.61 points, or 0.18%, to 3,092.13. The Nasdaq Composite gained 1.68 points, or 0.02%, to 9,947.80.

Oil futures on Monday headed lower amid rising cases of the COVID-19 pandemic. West Texas Intermediate crude for July delivery declined 25 cents, or 0.6%, at $39.50 a barrel. Brent oil for August delivery fell 20 cents, or 0.5%, at $41.99 a barrel.

Gilead Sciences Inc said on Monday that it plans to begin clinical trials of an inhaled version of its antiviral treatment remdesivir for COVID-19 patients in August.