Stocks open mostly higher after Thursday tax-hike surprise

Referenced Symbols

U.S. stocks started the Friday session mostly higher, one day after markets were roiled by news reports that the Biden administration would seek to raise capital gains taxes. The Dow Jones Industrial Average DJIA, +0.50% slipped 23 points, 0.1%, to open near 33,793, while the S&P 500 SPX, +1.00% gained 6 points, 0.2%, to start trading near 4,141. The Nasdaq Composite COMP, +1.38% added 43 points or 0.3%, trading near 13,861. Stocks look set for a down week, one week after pushing to fresh highs, a condition some analysts say makes any hint of bad news more likely to dent sentiment. Boston Beer Co. SAM, +1.64% shares surged after the bell after the maker of Sam Adams and other beverages reported better-than-expected earnings Thursday night.

Read Next

Read Next

Bitcoin drops below $50,000, dented in part by rising U.S. tax worries

Friday's losses come on the heels of a 300-point loss for the Dow industrials after a media report that President Joe Biden is weighing a plan to nearly double capital-gains tax on the wealthy.

More On MarketWatch

About the Author