S&P 500, Nasdaq Capture New Highs

By Staff Reporter
Posted on 02/14/20 | News Source: FOX Business

U.S. equity markets ended the week on a mixed note as investors evaluated better-than-expected fourth-quarter corporate earnings and generally positive economic data against the number of new coronavirus cases which soared for a second day.

The Nasdaq notched a new record, as did the S&P 500 which posted modest gains.

The Dow Jones Industrials fell dragged lower by United Health and IBM.

On the economic front, retail sales for the month of January rose 0.3 percent, while a small gain, economists viewed the data point as a positive. And Consumer Sentiment for February rose to 100.9 according to Univesity of Michigan which noted it just about "matched the expansion peak of 101.4, set two years ago in March 2018."

As for the coronavirus, China's National Health Commission said Friday the number of coronavirus cases rose by 5,090 to at least 63,851 as the death toll rose by 121 to 1,380. The outbreak could delay China's purchases of an additional $200 billion of U.S. products, which were promised in the partial trade agreement between the two countries. The pact goes into effect on Friday.

Among individual companies, Royal Caribbean fell after canceling 18 cruises in Southeast Asia and warning the coronavirus would weigh on its full-year earnings. Rivals Carnival and Norwegian Cruise Line fell in sympathy. Read more at FOX Business