S&P notches slight gain

Credit: Reuters Studio
Published on January 23, 2020 - Duration: 01:05s

S&P notches slight gain

The S&P 500 ended slightly higher and the Nasdaq eked out a record closing high Thursday, helped by a jump in Netflix, while news about the coronavirus outbreak spreading from China and mixed earnings results kept a lid on the market.

Fred Katayama reports.

Advertisement

S&P notches slight gain

Stocks ENDED LITTLE CHANGED Thursday, snapping back from earlier losses.

Pulling the S&P and Nasdaq into positive territory: the World Health Organization's comment that it's a "bit too early" to declare the virus a global health emergency.

But news about the coronavirus outbreak spreading from China and mixed earnings results capped the gains.

The S&P and Nasdaq added more than a tenth percent.

But Newton Advisors technical analyst Mark Newton is bearish about the market's near-term prospects: SOUNDBITE: NEWTON ADVISORS TECHNICAL ANALYST MARK NEWTON (ENGLISH) SAYING: "I'm expecting in the next three to five days stocks actually can have the chance of peaking out so I'm not all that optimistic.

I think thing shave gone a little too bit too far too quickly." On Wall Street, shares of Dow component P&G declined.

The consumer products maker's quarterly sales fell short of analysts' expectations for the first time in five quarters.

The biggest drag on the blue chip index: Travelers.

The insurer's shares dropped even though profit rose and topped Wall Street's targets.

Netflix shares bounced back sharply.

Guggenheim raised its price target on the streaming video company.

You are here

Recent related news from verified sources

WASHINGTON (AP) — Consumer spending edges up slight 0.2% in February but declines expected as virus spreads.
4 days ago • SeattlePI.com

It's no secret that Facebook gathers staggering amounts of information about its users across its various products. This is something that many people just...
7 hours ago • betanews

Recent related videos from verified sources

Cold Front On The Way 02:37
Credit: FOX 4 Now Florida - Published 9 hours ago 

Friday Evening Pinpoint Forecast 03:14
Credit: CBS 5 SF KPIX - Published 4 days ago 

You might like