Stocks open slightly lower as investors gauge coronavirus impact

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 DJIA, +0.60% fell 13 points, or less than 0.1% to 29,090, the S&P 500 index SPX, +0.73% shed 1 points, or less than 0.1% to 3,326 and the Nasdaq Composite index COMP, +1.13% 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. QSR, +2.74% and Allergan PLC AGN, +1.32% reported better-than-expected earnings Monday morning, sending their shares higher at the open.

See Full Story S&P 500, Nasdaq close at records as investors look past coronavirus to solid corporate earnings

U.S. stocks finished at fresh highs on Monday as Wall Street investors monitored developments around the spread of the coronavirus, while taking heart from solid fourth-quarter U.S. corporate earnings.

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