Stock Opened Higher as Investors Eyed Virus Spread

U.S. stocks opened higher on Friday, as investors continue to gauge the rise in COVID-19 cases. The Dow Jones Industrial Average lately advanced 178.93 points, or 0.62%, to 29,259.10. The S&P 500 rose 23.36 points, or 0.66%, to 3,560.37. The Nasdaq Composite gained 67.47 points, or 0.58%, to 11,777.06.

Oil futures lost ground Friday as COVID-19 cases continued to rise at a rapid clip, though crude remains on track for sharp weekly gains inspired by progress toward a vaccine. West Texas Intermediate crude for December delivery fell 76 cents, or 1.8%, to $40.34 a barrel. January Brent crude was down 59 cents, or 1.4%, at $42.94 a barrel.

The Bureau of Labor Statistics’ producer price index (PPI) increased by 0.3% in October after a 0.4% rise in September, topping consensus economists’ expectations for a 0.2% rise, according to Bloomberg data.