Stocks dropped 2% today as concerns about the coronavirus grow. In economic news, U.S. consumer sentiment hit its highest level in 9 months.
Here’s a look at how the major indices finished the day:
Dow Jones -603 at 28,256
S&P 500 -59 at 3,226
NASDAQ -148 at 9,151
The 10 Year Treasury closed down 4 basis points yielding 1.52%
Oil prices closed down $0.55 ending at $51.59 a barrel
Gold prices closed up $2 ending at $1,591 an ounce
In the days’ stock news:
- Caterpillar shares dropped 3% after the heavy equipment maker missed revenue estimates. Caterpillar also reported a weaker-than-expected full-year outlook.
- Amazon’s stock increased 7% after almost doubling earnings estimates and beating revenue forecasts. This was helped by a strong holiday season as well as strong results for advertising and cloud computing.
- Visa shares declined 4% after missing revenue expectations. Visa also saw a 14% increase in operating expenses during the quarter.
- Johnson & Johnson was ordered by a California judge to pay a $344 million fine, in a case accusing the company of deceptively marketing its surgical mesh devices.