As concerns over the coronavirus (also referred to as COVID-19) continue to dominate news headlines, cause volatility in the marketplace, and test investor confidence in securities markets, one thing remains unchanged - Leigh Baldwin & Co. and its commitment to assist clients through turbulent times. Along with the securities markets, we remain open and available to clients, ready to assist with any needs, questions, or concerns as they arise.
U.S. stocks edged higher shortly after Friday's start, on this sober 9/11 or as its' called today Patriots Day. The Dow Jones Industrial Average gained 8 points to 9,634. The S&P 500 Index added 2 points to 1,046, while the Nasdaq Composite inched up a point to 2,085. The diamond of the day so far goes to FedEx up 6% after easily beating earnings estimates. The Dow Jones Transports are jumping 2% on this earnings report. Plenty of upgrades this morning. Goldman Sach is up over 1% to a new 52 week high on an upgrade. The rest of the financials are quiet or lower. AIG and Allstate are lower on downgrades. Intel was upgraded, but the stock is modestly lower. Nokia is lower on a downgrade. In the retail space, Garmin and AnnTaylor are higher on upgrades. Best Buy was upgraded and downgraded. So far the downgrade is winning with the stock lower by 1.5%. Campbell Soup is modestly lower after beating earnings estimates by 4 cents. After the first half an hour the averages were modestly in the green on light volume. Through the morning and into the afternoon, the averages drifted into the red on light volume. Pretty boring day. In the last hour, no rally. The Dow Jones Industrial Average finished down 22 points at 9,605, leaving it with a 1.7% gain on the week. The S&P 500 Index fell a point to end at 1,042, but up 2.6% for the week. The Nasdaq Composite fell 3 points to 2,080, but rallied 3% on the week.
All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.