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Wall Street opens lower but stays on track for a weekly gain

1 year 1 month 2 weeks ago Friday, May 01 2020 May 1, 2020 May 01, 2020 9:11 AM May 01, 2020 in News
Source: Associated Press
Stocks are opening lower on Wall Street but they’re still on track for a weekly gain.

NEW YORK (AP) — Stocks are opening lower on Wall Street but they’re still on track for a weekly gain. The S&P 500 fell 2% early Friday. 

Several companies fell after reporting results that showed how severely the coronavirus disruptions are affecting their industries. 

Amazon’s revenue rose but its costs related to dealing with the virus also spiked, causing its profits to drop. 

Exxon Mobil fell after reporting that its profit fell as demand for energy sank. 

Bond yields held steady and the price of oil rose slightly. Stocks fell in Tokyo and London, but many other world markets were closed for the May Day holiday.

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