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Wall Street Stocks Modestly Rise, Investors Still Cautious

U.S. indexes lost altitude in late-morning on Tuesday, with the Dow Jones pulling back from a 945-point growth and other benchmarks retreating sharply over the latter hour of trade.

wall street risesPhoto: Reuters

The major benchmarks are trying to come off from their worst intraday losses since the 2008 financial crisis and had opened solidly up, as investors attempt to bounce back from a recent selloff inspired by collapsing crude-oil prices and intensifying concerns of coronavirus spread.

At last, the Dow Jones gains 0.11 percent, to 23,877, after soaring by as many as 3.9 percent at its Tuesday peak. The S&P 500 index, jumped by 0.77 percent, to 2,768 and the Nasdaq Composite surged by 1.03 percent, to 8,050 at 1602 GMT.

In corporate field, air carriers, including American Airlines Group (+4.64 percent), Delta Air Lines, (+0.28 percent) and Southwest Airlines (+0.367 percent) announced capacity lowering and other measures in response to the coronavirus outbreak.

Tesla securities soared by 4.40 percent after notching a batch of lows, but the stock value is still nearly 50 percent higher in the year to date.

Stitch Fix tumbled by 30.26 percent by nearly one-third after reporting results that failed to meet analyst expectations.

Securities of Thor Industries 5.178 percent even after a hefty stock price target cut, to $75 from $95, by KeyBanc Capital analysts in contrast to Tuesday trading at about $54.

Source: Marketwatch


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