Stocks thrashed out a mixed open Friday, as optimism toward a potential coronavirus vaccine countered global reaction to China’s imposing a rising authority over Hong Kong. Biotech Moderna leapt in early trade. Splunk, Palo Alto Networks and Nvidia advanced on earnings. China stocks were under early pressure. Procter & Gamble jumped to lead the Dow Jones today.

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The Dow industrials opened down 0.4%, the S&P 500 pared its early loss to 0.2%. The Nasdaq fell 0.3%, then reversed to a 0.2% gain as the stock market today breaks tradition on a usually quiet day of trade ahead of the three-day Memorial Day weekend.

The tightening of restrictions in Hong Kong by Chinese authorities sent global markets lower ahead of the open. China names were hardest hit among

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