Stocks dropped again today, with every major index finishing over 4% lower. In economic news, U.S. durable goods orders fell 0.2% in January, less than expected.
Here’s a look at how the major indices finished the day:
Dow Jones -1,191 at 25,767
S&P 500 -138 at 2,979
NASDAQ -414 at 8,566
The 10 Year Treasury closed down 1 basis points yielding 1.30%
Oil prices closed down $1.84 ending at $46.87 a barrel
Gold prices closed down $2 ending at $1,642 an ounce
In the days’ stock news:
- Square, the mobile payments technology company, beat earnings estimates by 9.5%. This was helped by a boost in its user base numbers.
- Gilead Sciences announced it will begin its own studies of a potential treatment for the coronavirus next month, as it tries to become the first drug company to sell a medicine specifically designed to treat the virus.
- Microsoft said it did not expect to meet prior guidance for its personal computing segment. This is due to supply chain disruptions related to the spread of the coronavirus.
- Marriott beat earnings estimates. however, the hotel chain missed revenue expectations. Marriot said it cannot fully estimate the financial impact of the coronavirus.