Wall Street Hits New All-Time High As Drop In New Coronavirus Cases Soothes Nerves

4 min read | February 12, 2020 11:10 PM GMT | By Team Kalkine Media

Global Markets: Broader indices in the United States traded in green - particularly, the S&P 500 index traded 18.57 points or 0.55% higher at 3,376.32, Dow Jones Industrial Average Index expanded by 240.55 points or 0.82% higher at 29,516.89, and the technology benchmark index Nasdaq Composite traded higher at 9,712.14, up by 73.20 points or 0.76% against its previous day close (at the time of writing, before the U.S market close at 2:45 PM ET).

Global News: On 12th February 2020, the US stocks opened on a positive note, as the eventful earnings season continued at the Wall Street. Molson Coors benefited from excellent cost control during the period and this led for its stocks to jump 3.4 per cent. CME Group shares were marginally down, as its revenue fell in the fourth quarter earnings report. CVS Health posted its earnings better than the expectations of the market and its stock was up by 2.7 per cent. Bed Bath and Beyond stock was in a freefall and dropped 26 per cent in value, as all the gains from the previous year had almost vanished. Lyft made a revision to its guidance for earnings, following which its stocks dropped 5.2 per cent in pre-market trade. Its competitor, Uber guided that it will be making a profit in the fourth quarter, which saw its stock inch up marginally.

Â

S&P 500 (SPX)

Top Performers*: Molson Coors Beverage Co, Micron Technology Inc, and Akamai Technologies Inc are top gainers and increased by 5.22%, 5.04% and 4.70% respectively.

Worst Performers*: Western Union Co, Abiomed Inc, and Amcor PLC are the top three laggards and decreased by 8.46%, 4.04% and 3.37% respectively.

NASDAQ Composite (IXIC)

Top Performers*: Computer Programs and Systems Inc, Datasea Inc, and Hoth Therapeutics Inc are top gainers and increased by 24.64%, 22.49% and 20.81% respectively.

Worst Performers*: Zosano Pharma Corp, Polarityte Inc, and PDS Biotechnology Corp are the top three laggards and decreased by 46.71%, 44.97% and 26.97% respectively.

Top Performing Sectors*: Energy (up 1.80%), Telecommunication services (up 0.88%) and Consumer Cyclicals (up 0.84%).

Worst Performing Sector*: Utilities (down 0.33%).

Dow Jones Industrial Average (DJI)

Top Performers*: Dow Inc, UnitedHealth Group Inc, and Caterpillar Inc are top gainers and increased by 3.14%, 2.93% and 2.18% respectively.

Worst Performers*: Proctor & Gamble Co, Coca-Cola Co, and Merck & Co Inc are top laggards and decreased by 0.43%, 0.42% and 0.21% respectively.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 34.93 points or 0.47% higher at 7,534.37, the FTSE 250 index snapped at 147.46 points or 0.68% higher at 21,793.48, and the FTSE All-Share Index ended 21.10 points or 0.51% higher at 4,191.17 respectively. Another European equity benchmark index STOXX 600 ended, up by 2.68 points or 0.63 per cent, at 431.16.

European News: Â In business news, BT (British Telecom) has announced that it is going to pull out of the Mobile World Congress to be held in Barcelona on account of Coronavirus concerns. A spokesperson of the company while conveying this decision to media said that while the company values its association with such industry bodies, employee and customer health safeguards are of paramount importance to the company. It is worth noting here that several such industry events being held across the world have seen lower participation because of the outbreak which so far has claimed more than one thousand lives in China.

London Stock Exchange (LSE)

Top LSE Stocks in the Gainers list*: NMC HEALTH PLC (NMC), SANNE GROUP PLC (SNN) and FINABLR PLC (FIN) zoomed up by 11.18%, 10% and 9.28% respectively.

Top LSE Stocks traded in red zone*: TRIFAST PLC (TRI), TUI AG (TUI) and OCADO GROUP PLC (OCDO) were hammered by 4.87%, 3.93% and 3.63% respectively.

FTSE 100 Index Performance

 FTSE-100 index 5-day performance – February 12th, 2020 (Source: Thomson Reuters)

Top FTSE 100 Stocks traded in green zone*: NMC HEALTH PLC (NMC), ANTOFAGASTA PLC (ANTO), and ANGLO AMERICAN PLC (AAL) surged by 11.18%, 4.47% and 4.12% respectively.

Top FTSE 100 Stocks traded in red zone*: TUI AG (TUI), OCADO GROUP PLC (OCDO), SMITH & NEPHEW PLC (SN.) were hammered by 3.84%, 3.67% and 1.56% respectively.

Shares traded with high volume*: LLOYDS GRP. (LLOY), VODAFONE GRP. (VOD), and ROYAL BANK OF SCOTLAND GROUP PLC (RBS).

Top Sectors in the positive zone*: Basic Materials (up 2.32%), Energy (up 1.46%), and Telecommunications Services (up 1.37%).

Sectors in the negative zone*: Consumer Non-Cyclicals (-0.48%), Industrials (-0.44%), and Utilities (-0.39%).

Forex Rates*: GBP/USD and EUR/GBP were quoting at 1.2965 and 0.8383, respectively.

Bond Yields*: U.S 10-Year Treasuries yield was quoting at 1.630%, and the UK 10-Year Government Bond yield was trading at 0.606%, respectively.Â

*At the time of writing


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Limited, Company No. 12643132 (Kalkine Media, we or us) and is available for personal and non-commercial use only. Kalkine Media is an appointed representative of Kalkine Limited, who is authorized and regulated by the FCA (FRN: 579414). The non-personalised advice given by Kalkine Media through its Content does not in any way endorse or recommend individuals, investment products or services suitable for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a qualified financial planner and/or adviser. No liability is accepted by Kalkine Media or Kalkine Limited and/or any of its employees/officers, for any investment loss, or any other loss or detriment experienced by you for any investment decision, whether consequent to, or in any way related to this Content, the provision of which is a regulated activity. Kalkine Media does not intend to exclude any liability which is not permitted to be excluded under applicable law or regulation. Some of the Content on this website may be sponsored/non-sponsored, as applicable. However, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music/video that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music or video used in the Content unless stated otherwise. The images/music/video that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.


Sponsored Articles


Investing Ideas

Previous Next