News from China was moving the markets today. But this time it wasn’t trade news.
It was news of the coronavirus in China that was moving the markets. The virus has killed 6 people and the CDC confirmed the first U.S. case.
Stocks opened lower and then bounced back. And during lunch stocks were trading at session highs.
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But a slide in the afternoon brought the major indices back to session lows, and stocks ended the day with a loss.
Today’s drop brought the DOW’s 5-day winning streak to an end.
Here’s where the major indices ended the day:
- The S&P finished with a 0.3% loss. Down 9 points, the S&P ended at 3,321.
- The DOW ended lower by 0.5%. Down 152 points, the DOW closed at 29,196.
- The NASDAQ was down 0.2%. With a 19 point loss, the NASDAQ finished at 9,370.
Crude Oil (CL) bounced off of $58 but still finished the day with a loss. Down 0.4%, CL ended the session at $58.33 a barrel.
Boeing (BA) was down again today, after news that the company doesn’t expect regulators to sign off on the 737 Max until the middle of the year. This is months later than expected. Boeing ended the day with a 3.3% loss.
Here is the economic calendar for the week:
Real Time Economic Calendar provided by Investing.com.
Source: RockwellTrading by Markus Heitkoetter | Original Link