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 edged higher at Tuesday's start after data showed home prices tallied their smallest yearly decline in almost three years in January. The Dow Jones Industrial Average rose 18 points to 10,913. The S&P 500 Index gained a point to 1,174. The Nasdaq Composite Index added 6 points to 2,410. Apple is making news this morning. Apple is expected to allow Verizon to carry the iphone within the next year. Verizon is up 3% on that news. Apple is up 2% at new highs. Chipmaker, Qualcomm is up a percent on the possiblilty they may get their chips into the iphone. Rival Research in Motion which reports earnings tomorrow is down 2% on worries of new compeition from the iphone. Marvell, jabil Circuit, Qualcomm, and Juniper Networks were all upgraded this morning. All four are higher. Google' stock continues to struggle. Another that continues to perform well are the commodities. Freeport McMoran is up 2% to new recent highs. The fertilizer stocks continue to perform well. In the retail space Chipotle Mexican Grill and Buffalo Wild Wing received upgrades. Both are higher. The financials are quiet this morning. Genworth is unchanged on an upgrade. After the first hour the averages remain in the green, but not by much. Trading seems quiet ahead of the quarter end tomorrow. Through the morning the averages gave up their gains. Nothing really going on. In the afternoon the averages flat-lined. The financials are in the red. In the last hour chip equipment maker, Applied Materials rose after the company raised guidance. No preannouncements. That's a good sign. The Dow Jones Industrial Average finished up 11 points at 10,907. The broad S&P 500 index barely advanced, rising 5 cents to 1,173, while the technology-heavy Nasdaq Composite ended up 6 points at 2,410.
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