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 started higher on Monday, with the market bouncing back from a three-day rout as investors gained confidence Federal Reserve Chairman Ben Bernanke would be approved for a second term. The Dow Jones Industrial Average rose 65 points to 10,238. The S&P 500 Index added 9 points to 1,100. The Nasdaq Composite Index rose 14 points to 2,219. Everything for the most part is rebounding this morning. The financials look good. Bank of America, Huntington Banc, Discover, Fifth Third, and GE were all upgraded and all are higher. Suntrust is down a percent on a downgrade. The techs look good. Apple, Salesforce.com, and Nvidia are higher on upgrades. Intel is higher on a positive article in Barrons. Google is lower as the founders are planning to sell a portion of their shares. The stock is down 12% in the last two weeks. Research in Motion continues to struggle, falling into the red shortly after the open. After the first hour the Dow remained in the green, but off the highs. Many of the financials are off their highs. The Nasdaq remains up 10 points. The commodities are higher. AK Steel is up 7% on better than expected earnings. Potash is up 2% on an upgrade. Halliburton is down 4% after beating estimates. As the morning progressed the averages dipped into the red only to rebound once gain. In the afternoon the averages moved back to the highs of the day. Then, in the last hour, the rally fizzled. The Dow Jones Industrial Average finished up 23 points at 10,196. The S&P 500 Index climbed 5 points to 1,096. The Nasdaq Composite Index added 5 points to 2,210.
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