U.S. stocks open mixed on short trading day

U.S. stock indexes opened mixed on Friday as investors assessed Fed rate policy outlook and weighed China’s key bank-reserve’s rate cut as COVID-19 cases rose. The Dow Jones Industrial Average
DJIA,
+0.42%
rose 57 points, or 0.2%, to 34,251. The S&P 500
SPX,
+0.10%
lost 0.1%, while the Nasdaq Composite
COMP,
-0.31%
shed 0.6%. The latest meeting minutes from the Federal Reserve showed most policy makers expect a slower pace of interest rate increases ahead. In addition, China’s central bank on Friday cut the ratio of deposits banks have to hold in reserve by 0.25 percentage point to an average 7.8%, saying the move would release roughly $70 billion of funds into an economy struggling with a COVID-19 outbreak. Markets will close at 1 p.m. ET on Friday.