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US stocks trade mixed as new COVID deaths in China raise growth fears again

People queue for Covid-19 tests in Shanghai, China.
People queue for Covid-19 tests in Shanghai, China.Wang Gang/VCG via Getty Images.
  • US stocks opened mixed on Monday as investors weighed renewed growth concerns in China.

  • New Covid-related deaths in China over the weekend raised fears that reopening plans would face a setback.

  • Meanwhile, shares of Disney soared on the return of Bob Iger as chief executive, lifting the Dow Jones Industrial Average.

US stocks opened mixed on Monday as investors weighed new Covid-related deaths in China over the weekend, raising concern for growth.

China has imposed strict lockdowns for the past two years largely due to the country's zero-Covid policy. The result has been a drag on the economy and financial markets for most of 2022, and Beijing is now signaling that the current bout of rising cases is poised to be the most difficult test yet of the country's struggle with lockdowns.

Meanwhile, news that Bob Iger was returning to Disney as chief executive sent shares soaring as much as 9%, lifting the Dow Jones Industrial Average. Iger plans to stay at Disney for just two years, making a search for a successor a more pressing issue upon his return.

Here's where US indexes stood as the market opened at 9:30 a.m. on Monday: 

Here's what else is happening: 

In commodities, bonds, and crypto: 

Read the original article on Business Insider