Stocks Traded Mixed, Eyed on Rising Coronavirus Cases

U.S. stock were mixed in the early trading on Monday, as investors wrestled with rising coronavirus cases. The Dow Jones Industrial Average lately rose 102.67 points, or 0.41%, to 25,118.22. The S&P 500 was down 6.20 points, or 0.21%, to 3,002.85. The Nasdaq Composite declined 74.24 points, or 0.76%, to 9,682.98.

Oil futures on Monday rose cautiously higher, even as rising cases of COVID-19 topped 10 million world-wide. West Texas Intermediate crude for August picked up 48 cents, or 1.3%, at $38.96 a barrel. Brent oil for August delivery climbed 47 cents or 1.2%, at $41.40 a barrel.

More cities rolled back reopening plans over the weekend. California Governor Gavin Newsom said Sunday that the state was ordering bars to re-close in seven counties including Los Angeles.

Gilead Sciences Inc has priced its COVID-19 drug candidate remdesivir at $2,340 for a five-day treatment in the United States and some other developed countries, it said on Monday, as it set the price for a single vial at $390.

Coty Inc said on Monday it would buy a 20% stake in reality TV star Kim Kardashian West’s makeup brand KKW, as the cosmetics maker looks to cash in on the demand for celebrity-owned products.