Stocks Opened Lower with Rising COVID-19 Cases

U.S. stocks open lower on Tuesday as investors weighed rising coronavirus cases in the U.S. against optimism over a stronger recovery in 2021. The Dow Jones Industrial Average lately shed 18.43 points, or 0.06%, to 30,051.36. The S&P 500 fell 8.63 points, or 0.23%, to 3,683.33. The Nasdaq Composite was down 32.62 poinra, or 0.26%, to 12,487.33.

Oil futures traded lower Tuesday, remaining under pressure as COVID-19 cases continue to rise in the U.S. and Europe, stoking worries over prospects for fuel demand. West Texas Intermediate crude for January delivery was down 30 cents, or 0.7%, at $45.46 a barrel. February Brent crude was off 24 cents, or 0.5%, at $48.54 a barrel.

Shares of Tesla (TSLA) declined 1.5% in early trading Tuesday morning after the electric-car maker said in a filing it was looking to raise up to $5 billion in a share offering.