Stocks fall at the open as case counts rise

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U.S. stocks opened lower Friday as mounting coronavirus case counts outweighed bullish earnings from the market’s leaders. The Dow Jones Industrial Average gave up 117 points, 0.4%, to open near 26,542, while the S&P 500 fell 18 points, 0.5%, to near 3,292. The Nasdaq Composite slumped 82 points, or 0.7%, and was trading near 11,103. Uncertainty about the outlook came even as a report on personal incomes and spending beat economist forecasts. Shares of tech giants like Amazon.com Inc. and Apple Corp. were sharply lower after the bell despite strong earnings reports, while Exxon Mobil Corp. shares fell after the company said revenue fell by nearly one-third in the most recent quarter, extending a rout that’s shaved off more than half the share price in the year to date.
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