Facebook carved out a heavy day for stocks
U.S. stocks just barely shook free of the lasting coronavirus headwinds today, with all three major indexes seeing a quick recovery into the black during the last hour of trading. Earnings also remained in focus, as Facebook (FB) weighed heavy on the tech sector and S&P 500. Paring some of today's afternoon losses were well-received reports from Coca-Cola (KO) and Microsoft (MSFT).
Continue reading for more on today's market, including:
- This cosmetics stock could glow next month.
- The ETF chart signal flashing an entry point for bulls.
- Plus, one outperforming research stock; Lyft's company-wide cutback; and the Dow stock hitting record highs.
The Dow Jones Industrial Average (DJI - 28,859.44) tacked on nearly 125 points, or 0.4%. KO led the 18 winners with a 3.2% win, while Dow (DOW) paced the 12 losers with a 2.4% drop.
The S&P 500 Index (SPX - 3,283.66) scraped together a 10.3 point, or 0.3% win, while the Nasdaq Composite (IXIC - 9,298.93) finished 23.8 points, or 0.3%, higher.
The Cboe Volatility Index (VIX - 15.49) shed 0.9 points, or 5.5%.
5 Items on Our Radar Today
- The WHO marked the wide-spread coronavirus a global health emergency late this afternoon. Director-General Tedros Adhanom Ghebreyesus urgently insisted that "We must act together now to limit the spread [of disease]." So far the illness has reached 18 countries and killed an estimated 171 in China. (CNBC)
- Packages for the Superbowl experience are asking as much as $1.5 million this year, with choices for this weekend in Miami, FL including meet and greets with athletes, swanky hotel stays, and even a private jet. Even lower-end tickets come in as much as $4,400. (MarketWatch)
- The research stock outperforming after earnings.
- The company-wide cut back giving Lyft stock a boost.
- Why this Dow stock just soared to record highs.
Data courtesy of Trade-Alert
Gold Surges, Oil Extends Losses on Virus Concerns
Oil suffered yet another loss today, falling on concerns the coronavirus will stall global energy demands. March-dated crude futures sank $1.19 cents, or 2.2%, to settle at $52.14 per barrel -- its lowest close since early August.
On the flip side, gold prices surged in today's session, closing at their highest rate in over six years, as refreshed global health worries sent demand for haven investments popping. As now the most active contract, gold for April delivery surged $13.20, or 0.8%, to settle at $1,589.20 per ounce.