Stocks open mostly lower on rising case counts, stimulus stalemate

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U.S. stocks opened mostly lower Friday morning as investors hunted for a positive catalyst amid an array of headwinds. The Dow Jones Industrial Average lost about 135 points or 0.5% to open near 26,680, while the S&P 500 slipped 10 points, 0.3%, opening near 3,237. The Nasdaq Composite was about 10 points higher, near 10,680, a gain of 0.1%. Stock benchmarks are on track to mark a fourth straight week of losses as concerns grow over the U.S. election, the lack of additional stimulus to support the economy, and rising COVID-19 case counts around the globe. Orders for durable goods rose 0.4% in August, the Commerce Department said Friday, signaling slowing momentum in the economy. Shares of NVIDIA Corporation rose in early trade after a price-target increase. The chipmaker is the S&P 500 component that’s gained the most in the year to date – 110%.
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