US open: Mixed start to trading as new Covid-19 restrictions in Europe weigh on stocks

dl wall street st new york city nyc nyse stock exchange ny dow jones nasdaq sp finance us usa united states of america — Wall StreetSharecast photo / Josh White

Wall Street stocks were mixed early on Friday amid fears regarding a resurgence of Covid-19 cases across Europe.

As of 1520 GMT, the Dow Jones Industrial Average was down 0.67% at 35,631.17, while the S&P 500 was 0.04% weaker at 4,702.44 and the Nasdaq Composite came out the gate 0.49% stronger at 16,071.46.

The Dow Jones opened 239.78 points lower on Friday, extending losses recorded in the previous session after the Labor Department revealed initial jobless claims were little changed in the week ended 13 November.

Covid-19 was firmly in focus after the opening bell on Friday after Austria announced a full national lockdown will start on Monday, with Chancellor Alexander Schallenberg stating it would last no more than 20 days but warning it will be a legal requirement to receive a vaccination from 1 February.

Several other European nations will impose restrictions amid rising cases, with Germany agreeing to introduce restrictions on unvaccinated citizens and the Czech government limiting access to a variety of services for those who haven't received a jab.

Market participants were also awaiting an announcement regarding Joe Biden's pick for the next chair of the Federal Reserve, expected by the weekend, with many expecting an even more dovish central bank if the President taps Lael Brainard for the role.

In the corporate space, Intuit shares were up 11.44% at the open after the group raised full-year revenue guidance and its quarterly earnings smashed estimates, while Nvidia was also in the green again thanks to its earnings beat earlier in the week.

Elsewhere, footwear retailer Foot Locker posted a solid set of third-quarter earnings on Friday, with quarterly profits coming to $158.0m in the three months ended 30 October, or $1.52 on a per share basis, beating analysts' estimates for EPS of $1.36.

Dow Jones - Risers

Nike Inc. (NKE) $175.14 2.21%
Microsoft Corp. (MSFT) $344.45 0.93%
Salesforce.Com Inc. (CRM) $305.80 0.93%
Apple Inc. (AAPL) $158.94 0.68%
Home Depot Inc. (HD) $408.55 0.67%
3M Co. (MMM) $179.68 0.51%
Procter & Gamble Co. (PG) $147.79 0.46%
Walmart Inc. (WMT) $143.61 0.31%
Amgen Inc. (AMGN) $204.56 0.26%
Johnson & Johnson (JNJ) $162.68 0.17%