U.S. stocks ended mostly lower on Friday with only the Nasdaq closing slightly higher as investors turned their focus on the coronavirus as a surge in new cases in several states caused Apple to shutter some stores
NEW YORK - The S&P 500 ended lower on Friday after an up-and-down session as investors weighed spiking cases of COVID-19 and Apple Inc’s announcement of fresh store closures against anticipated stimulus and continued economic recovery.
Apple Inc announced it is temporarily shutting some stores again in Florida, Arizona, South Carolina and North Carolina, which have seen a spike in coronavirus cases in recent days. New cases of COVID-19 set records across at least six U.S. states, and mandated mask use is becoming more common as economies continue reopening. China, where the pandemic originated but had been contained, also reported an uptick in new cases of the disease.The S&P 500 and the Dow are now at 8.5% and 12.5% shy of their respective all-time highs reached in February. The tech-heavy Nasdaq stands at 1.
AMC Entertainment Holdings Inc, the world’s largest movie theater operator, dipped 2.0% after its announcement that it would reopen theaters at about 450 locations in the United States next month was tempered by renewed shutdown fears.
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