Stocks open mixed as vaccine rally slows

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U.S. stocks opened mostly lower, looking set for another day in which investors cash in on the big winners of the coronavirus shut-downs for lower-priced shares of companies that would benefit from the roll-out of a vaccine, if at a slightly slower pace than on Monday. The Dow Jones Industrial Average gained 118 points, 0.4%, at the open, trading near 29,276 while the S&P 500 slipped 8 points, 0.2%, to open near 3,542. The Nasdaq Composite lost 91 points or 0.8%, and was near 11,622. While most analysts expect a stock-market rotation to unfold over the coming months, there may also be some short-term reversion to the mean after Monday’s mammoth rally, which saw shares of travel companies like United Airlines Holdings Inc. jump 19%, and energy concerns like Valero Energy Corporation surge 39% in one day. Lyft Inc. is set to report quarterly results after the closing bell Tuesday.
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