Stocks were mixed today, with NASDAQ finishing in positive territory. In economic news, consumer sentiment rose in February even amid the coronavirus outbreak.
Here’s a look at how the major indices finished the day:
Dow Jones -166 at 29,232
S&P 500 -10 at 3,370
NASDAQ +2 at 9,733
The 10 Year Treasury closed down 3 basis points yielding 1.56%
Oil prices closed up $0.05 ending at $52.27 a barrel
Gold prices closed up $19 ending at $1,606 an ounce
In the days’ stock news:
- Apple shares dropped 2% after the tech giant warned it would not meet prior revenue projections due to the coronavirus outbreak. The company said the virus had limited iPhone production as well as cutting demand in China.
- HSBC announced that it would shed $100 billion in assets and revamp its U.S. and European operations in a move that will result in 35,000 job cuts over the next 3 years.
- General Motors announced it will exit Australia, New Zealand, and Thailand in order to cut costs. This move will result in a total of $1.1 billion in cash and non-cash charges.
- Pier 1 Imports filed for Chapter 11 bankruptcy protection. This came just a few months after the home furnishings retailer announced plans to close up to 450 stores.