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 wobbled lower Tuesday in a shaky start ahead of data on consumer confidence. The Dow Jones Industrial Average fell 8 points to 10,810. The S&P 500 dropped a point to 1,141. The Nasdaq Composite shed 6 points to 2,364. End of the quarter and we're starting to see some profit-taking. Everything is under pressure. Apple is down a quick 2% on rumors one of their top executives is planning to leave to take over Hewlett Packard. Google is getting hit this morning. Research in Motion traded higher last night after announcing a playbook to compete with the Apple Ipad. However this morning, Research in Motion is down 4%. At 10 o'clock a weaker than expected consumer confidence number sent the averages tumbling. The Dow dropped 80 points while the Nasdaq declined 28 points. After the first hour the averages started to battle back. Resilient market. A few stocks are trading higher this morning. Walgreen is up 10% on better than expected earnings. The privatized correctional and detention facility company Correction Corp is up 4% after better than expected earnings. Paychex is unchanged after beating estimates. Nordstrom and Greenbrier are higher on upgrades. Through the morning the averages kept improving with the Dow rising into the green. The Nasdaq modestly in the red. Heading into the lunch hour the Dow moved into the green dragging the Nasdaq with it. Chevron, HP, Intel, and Travelers are leading the blue chip average higher. In the afternoon the averages remained strong, rallying into the close. The Dow Jones Industrial Average finished up 46 points at 10,858, with 22 of its 30 components rising. Blue-chip gains were led by shares of Pfizer, up 1.5%, and Intel, up 1.4%. The S&P 500 index rose 5 points to 1,147 led by healthcare, up 0.9%, as well as the energy, consumer discretionary, and consumer staples sectors, all up about 0.8%. The Nasdaq Composite finished up 9 points at 2,379.
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