S&P 500, Dow head lower as COVID-19 cases climb; eyes on stimulus

The S&P 500 and Dow indexes were set to open lower on Monday as concerns about a jump in COVID-19 cases curbed risk appetite, with investors also ...

The S&P 500 and Dow indexes were set to open lower on Monday as concerns about a jump in COVID-19 cases curbed risk appetite, with investors also hoping for more stimulus to shore up a battered global economy.

After the U.S. government's US$3 trillion commitment to the crisis 12 weeks ago, record levels of new infections have forced many states to backpedal their reopening plans just as those support programs are due to expire.At least 14 states have reported record hospitalizations so far in July and Florida saw 12,000 new cases on Sunday. Furthermore, the U.S. Centers for Disease Control and Prevention has warned that cases and deaths could rise this autumn and winter.

This week, major companies including Microsoft Corp , Amazon.com Inc , Tesla Inc , Intel Corp and Honeywell International Inc are expected to report quarterly results.

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