US opens lower on pandemic resurgence fears

Montag, 26. Juli 2021 15:31

Major stock markets in the United States opened lower on Monday, as investors waited to see how the recent surge in coronavirus cases will affect the markets this week. Medical professionals in the country, alongside US President Joe Biden, urged people to get vaccinated, as Dr. Anthony Fauci cautioned about the consequences of outbreaks among the unvaccinated.

Meanwhile, earnings season continued, with Lockheed Martin posting a yearly increase, and LVMH and Tesla's earnings coming in later during the day. Lastly, some shake-ups on Wall Street occurred with Credit Suisse raising Amazon's target price, Thoma Bravo taking Medallia private, RBC Bearings acquiring ABB's Doge, and Goldman Sachs revising US GDP projections down.

The Dow Jones and the S&P 500 opened 0.07% in the red. Microsoft Corp and Willis Tower Watson led the losses on their respective indices losing 0.69% and 5.32% respectively. The Nasdaq 100 started 0.33% lower, with plummeting 10.85%. The euro gained 0.17% against the dollar trading for $1.17916 at 9:33 am ET.

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