Stocks look to reverse previous day's gains as investors assess economic recovery

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S&P 500’s five-session win streak on line as energy and financial stocks retreat

U.S. stocks mostly opened lower on Tuesday on track to erase a chunk of the previous session's gains as investors assessed the scope for a further market rally amid worries the U.S. economy's recovery would stay uneven. The S&P 500 SPX, -0.07% fell 0.4% to 3,166. The Dow Jones Industrial Average DJIA, -0.69% shed 189 points, or 0.7%, to 26,098.

The Nasdaq Composite COMP, +0.48% rose 2 points to 10,436. In an interview, Atlanta Federal Reserve President Raphael Bostic said the nascent U.S. recovery from the viral outbreak was"leveling off," raising doubts about a V-shaped, or swift and powerful, economic rebound. The worry is that re-acceleration of coronavirus cases across the U.S. could slow economic activity.

 

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