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 Wednesday after mixed economic data, including a November rise in consumer prices, led by climbing energy costs. The Dow Jones Industrial Average rose 43 points to 10,495. The S&P 500 Index climbed 6 points to 1,114. The Nasdaq Composite Index added 13 points to 2,214. So far so good this morning. The financials are modestly higher as the big banks raise more capital to pay back TARP. Citigroup is lower as they try and price new shares today. Charles Schwab is up 4% on an upgrade. Annaly Mortgage is up 2% on an upgrade. GE received two upgraded, but the stock is unchanged. In general the techs look good. Google made new highs thanks to bullish comments from CNBC's James Cramer. Corning, VMware, Qualcomm, and Broadcom are higher thanks to upgades. Intel is down a percent after the FCC decided to sue the chip giant. After the first hour the averages remain where they started this morning. The commodities are all performing well. The cruise ship companies Carnival and Royal Caribbean are performing well thanks to upgrades. So far so good.
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