Stocks rose on Tuesday following the market’s biggest sell-off in more than three months as investors grapple with lingering fears over a possible coronavirus outbreak.The Dow Jones Industrials rebounded 129.68 points to 28,605.48.The S&P 500 regained 24.4 points at 3,268.03. The NASDAQ recovered 76.54 points to 9,215.85 In China, where the virus originated from, the virus has killed more than 100 people while over 4,500 have been infected. In the U.S. — where some coronavirus cases have been confirmed — the State Department advised Americans to "reconsider travel to China...
United Technologies Corp. (NYSE: UTX) reported fourth-quarter and full-year 2019 results and announced its 2020 outlook for Pratt & Whitney and Collins Aerospace Systems. The company, based out of Farmington, Conn., reported sales of $19.6 billion, up 8% versus prior year, including 1% organic growth. GAAP EPS were $1.32, up 59% from the prior year. Adjusted EPS were $1.94, down 1% versus prior year. Net income in the quarter was $1.1 billion, up 67% versus the prior year and included $540 million of net nonrecurring charges. Sales proved to be $77.0 billion, up 16% versus prior...
Stocks tanked on Monday after more cases of the coronavirus were confirmed over the weekend, ratcheting up worries over the virus’ impact on the world economy.The Dow Jones Industrials stumbled 405.27 points, or 1.4%, to 28,584.46, led lower by Nike and American Express. The S&P 500 slumped 45.49 points at 3,249.47, The NASDAQ slouched 160.6 points, or 1.7%, to 9,154.30. There are 2,862 confirmed cases so far in China and the death toll in China has risen to 81. The World Health. Organization’s director general is traveling to China to meet with government and health officials...
The Canadian dollar resumed its post-Bank of Canada meeting downtrend overnight. The domestic currency sank under a wave of selling pressures in Asia fueled by the widening coronavirus outbreak and worries that actions to contain the spread of the virus are not working. China said there were confirmed 2,744 confirmed infections and that 81 people have died. "Experts" are warning that the virus could affect 100,000 worldwide. Gold prices jumped at the Asia open, rising from Friday’s closing level of $1,571.50/ounce to...
Shares of China's Luckin Coffee (LK) slipped in New York amid reports of a travel lockdown in China related to the recent coronavirus outbreak. WHAT'S NEW: The New York Times reported that authorities have greatly expanded a travel lockdown in central China to include 12 cities close to the center of the coronavirus outbreak, effectively barring 35M residents from traveling in an effort to contain the virus. Just a day after the country restricted travel in and from Wuhan, the center of the outbreak with a population of 11M, and the capital of Hubei Province, as well...
Netflix (NASDAQ:NFLX) continued to sign up Canadian subscribers in the final months of 2019 even as competition from other streaming services heated up. Netflix says it recruited more Canadian subscribers in the final months of last year as it responded to an onslaught of new competition from Apple TV Plus and Disney Plus with an array of buzzworthy TV series such as "The Crown" and Oscar-nominated movies such as "The Irishman."The global streaming company says it signed up 125,000 new paid subscribers in Canada during the fourth quarter that...
From the Kansas City Fed: Tenth District Manufacturing Activity Nearly Flat in January. The Federal Reserve Bank of Kansas City released the January Manufacturing Survey today. According to Chad Wilkerson, vice president, and an economist at the Federal Reserve Bank of Kansas City, the survey revealed that Tenth District manufacturing activity was nearly flat in January while expectations for future activity expanded. Regional factory activity was down only slightly in January, and firms reported a modest increase...
The long-delayed Keystone XL oil pipeline has won approval for a key stretch of construction in the United States. The U.S. Interior Department authorized construction across a swath of federal land in Montana, according to a news release issued late on Wednesday. While approval by the oil-friendly Trump administration was expected, the move is a sign of growing momentum for a project that ground to a halt under political opposition in 2015. Progress on Keystone XL, which will boost shipments of crude oil from Alberta to refineries on the Gulf of Mexico, is a ...
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