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 tallied mild gains Wednesday after a tentative start, with investors mulling the ADP employment report, which found a bit more private-sector jobs were lost last month than forecast. The Dow Jones Industrial Average rose 10 points to 10,482. The S&P 500 Index inched up 2 points to 1,110. The Nasdaq Composite climbed 10 points to 2,186. Nothing is moving very much. Retailer Jos. A Bank is up 2% following strong earnings. J. Crew is up 2% on positive comments from Cramer. Toro is modestly higher after hiking their dividend. Amazon is trading at a new high as the online retailer continues to see strong demand. Amazon was upgraded this morning with a $160 price target. In the tech sector, the semiconductors continue to perform well. Micron is higher on an upgrade. RF Micro Devices is jumping 5% thanks to an upgrade. Dreamworks is up 2% on an upgrade. The commodities continue to perform well. Gold is at a new high. After the first half an hour the averages remained where they started. The financials, similar to yesterday, are underperforming. After the first half an hour the averages pushed higher except for the big banks. Through the rest of the morning the Dow rallied then fell into the red due to weakness in the financials. The commodities are pulling back thanks to a rebound in the U.S. dollar. The techs remain in the green. In the afternoon and in the last hour not much changed. The Dow Jones Industrial Average finished down 18 points at 10,452. The S&P 500 Index gained less than half of a point to close at 1,109 while the Nasdaq Composite added 9 points to 2,185.
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