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 opened higher on Monday, with financials fronting the rise, after a weekend gathering of world financial leaders bolstered sentiment about a global recovery. The Dow Jones Industrial Average added 59 points to 10,082. The S&P 500 Index rose 8 points to 1,077. The Nasdaq Composite climbed 18 points to 2,130. Everything looks good this morning. The financials are all modestly higher. Blackrock is up 4% on an upgrade. Wells Fargo is up 2% on an upgrade. GE is up 5% following a nice bump on Friday thanks to an upgrade. The techs are performing well this morning. IBM, Apple, Google, and Amazon are all shooting higher. Motorola and HP are higher following upgrades. Adobe is up 4% on an upgrade from Goldman Sachs. The retailers look good this morning. RadioShack is up 15% on an upgrade. Abercrombie & Fitch is jumping 7% on an upgrade. After the first half an hour, the Dow rose 110 points back above 10100 to new highs for the year. The Nasdaq rose 28 points. Through the morning the Dow kept pushing higher, jumping 150 points. The commodities are pushing higher as well with the gold up to $1100 an ounce and oil up to $80 a barrel. In the afternoon the averages kept creeping higher. The Dow rose over 190 points to 10,200. In the last hour, no sell off. The averages held firm trying to close at the highs of the day. The Dow Jones Industrial Average finished up 203 points, or 2%, at 10,226. The S&P 500 added 23 points, or 2.2%, to close at 1,093. The Nasdaq Composite rose 41 points, or 2%, to 2,154.
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