U.S. stocks edged lower at the start of trade Monday as traders awaited more clarity on the ultimate economic impact of a growing outbreak of the coronavirus, which has disrupted global supply chains dependent on Chinese production where the virus originated.
The Dow Jones Industrial Average fell 13 points, or less than 0.1% to 29,090, the S&P 500 index shed 1 points, or less than 0.1% to 3,326 and the Nasdaq Composite index fell 8 points, or 0.1% to 9,512.
Many Chinese factories began reopening Monday after weeks of closures aimed at preventing the spread of the virus, as officials there gain confidence that its spread will soon decelerate. But other facilities will remain closed, while the World Health Organization warned that the spread of the virus will likely accelerate in other countries in the coming days.
Investors were also monitoring fourth-quarter earnings results, as earnings season enters its final stretch. Burger King parent Restaurant Brands International Inc. and Allergan reported better-than-expected earnings Monday morning, sending their shares higher at the open.
Source : MarketWatch