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 modestly lower on Tuesday, with natural-resource companies falling along with the price of oil and other commodities. The Dow Jones Industrial Average fell 7 points to 10,545. The S&P 500 Index declined 2 points to 1,136. The Nasdaq Composite Index was off 2 points at 2,331. Quiet morning so far. On the earnings front H&R Block, Kroger, and Burger King are modestly lower following earnings. Dicks and Tivo are modestly higher following earnings. In the tech sector Texas Instruments lifted guidance last night, however, the stock is lower. Apple and Research in Motion are modestly higher on upgrades. The financials are modestly lower as bank regulation looms. Metlife opened lower, but soon rebounded. China Life Insurance is higher as the company predicts their profits will triple over the next several years. A couple of downgrades this morning including Toyota and Cheescake Factory. Both are lower. After the first hour the averages moved modestly into the green. Everything seems to be recovering. During the lunch hour the averages kept improving. The financials have had a nice turn around. Citigroup is jumping 7%. The techs are improving. The Dow rose 50 points touching 10600 for the first time since the middle of January. Entering the last hour the averages gave up half their gains. The Dow Jones Industrial Average finished up 11 points at 10,564. Up nearly 69% from the year-ago close, the S&P 500 added a point to end at 1,140. The Nasdaq Composite Index rose 8 points to close at 2,340.
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