Dow Jones pulls back; Nasdaq closes at all-time high

2020-02-11 23:35:46 GMT (Economies.com)
Dow Jones pulls back; Nasdaq closes at all-time high

Most of the US stocks rose on Tuesday, as investors shrugged off the coronavirus health crisis, pushing Nasdaq and S&P 500 to close at their records for the second straight session, which came after Federal Reserve Chairman Jerome Powell's testimony.

 

Fed Chair, Jerome Powell, said that he sees the monetary policy and the current interest rate are appropriate for economic growth during the semi-annual testimony before the House services committee, but warned of the potential risks and economic impact of the coronavirus outbreak.

 

The Chinese government revealed that the coronavirus has claimed more than 1,000 victims and over 42,000 were infected, however, a Chinese official said that the coronavirus health crisis is expected to be contained in April.

 

This came after US President Donald Trump said the rising temperatures will eliminate the coronavirus by April.

 

To the oil market, WTI crude gained 0.8% to close at $49.94 a barrel, after it hit a day high of $50.6 and a low of $49.5.

 

Brent rose by 1.1% to $54.01 a barrel, with a high of $54.6 and a low of $53.6.

 

As for stocks, Dow Jones held at 29,276, and hit an intraday high 29,415 and a low 29,210.

 

Nasdaq added 0.1% or 10 points to 9,639 points, with a high of 9,714 and a low of 9,617 points.

 

S&P 500 rose 0.2% or 5 points to close at 3,357 with a high of 3,375 and a low of 3,352.

 
 
 
  Symbol Last Change Chg.%
1.1027
0.0212
1.9626%
1.2817
-0.0131
1.0090%
Tadawul
7628.34
-82.78
1.07%
16.678
-1.815
9.812%
45.295
-8.038
15.071%
50.52
-1.66
3.18%
1585.265
-58.380
3.552%
 
 
US
 
Europe
 
Asia