USA stocks open higher as energy sector leads gains

USA stocks open higher as energy sector leads gains

USA stocks open higher as energy sector leads gains

The Dow Jones Industrials decreased 41.99 points to 26,077.62. The Nasdaq was little changed.

While the market remained choppy, major stock averages are set to post solid gains this week after a sharp pullback in the week prior.

The selling followed word that Apple will temporarily close 11 stores as coronavirus cases rise across swaths of the South and West, just weeks after reopening them. But the company did not reaffirm or provide new 2020 forecasts, and its shares fell 5.4 per cent.

Arizona and Florida reported record spikes in confirmed Covid-19 cases on Friday as states continue their phased reopenings and ramping up testing.

Despite Texas, California, Arizona and Florida all reporting their biggest one-day increases in Covid-19 case numbers, shares in companies tied to the reopening of the USA economy like United Airlines and Kohl's were both higher at the open.

June 19 (Reuters) - The S&P 500 and the Dow eased in volatile trading on Friday following Apple's move to temporarily shut some USA stores again after a spike in coronavirus cases rekindled fears of business disruptions as the economy emerges from lockdowns.

Friday also coincided with the so-called quadruple witching, when options and futures on indexes and stocks expire.

Visit MarketWatch.com for more information on this news. Nordstrom and Kohl's both slid more than 1%. United Airlines slid 6.9% and Delta dropped 4.1%. New data showed a further decline in the count of USA oil rigs, a bullish sign for the energy markets as it shows oil drillers are reining in production.

Volume on US exchanges was 15.84 billion shares, compared with the 13.17 billion average over the last 20 trading days. -China trade relations as the two countries exchange heated rhetoric regarding the coronavirus.

The S&P 500 and the Dow edged lower in choppy trading on Wednesday as a record rise in coronavirus cases in six USA states dented sentiment following a three-day rally on hopes of a swift recovery from a coronavirus-driven downturn. Those gains came after a record surge in USA retail sales and the Federal Reserve announcing it will buy individual corporate bonds.

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