Stock Market News For Feb 18, 2020
Zacks Investment Research | Feb 17, 2020 08:35PM ET
Benchmarks ended were mixed on Friday, as investors’ attention was fixed on the rising death toll in China and the limited strength displayed by American consumers last month. U.S. financial markets were closed on Monday, Feb 17, 2020, in observance of the Presidents Day.
The Dow Jones Industrial Average shed 0.1% to hit 29,398.08 on Friday. The S&P 500 and Nasdaq Composite, however, closed the day in green on Feb 14, gaining 0.2% each to hit 3,380.16 and 9,731.18 respectively. The fear-gauge CBOE Volatility Index (VIX) rose 10.4% to close at 15.10 on Feb 14. Finally, decliners outnumbered advancers on the NYSE by a 1.09-to-1 ratio.
Coronavirus Continues to Spread Fast
According to Chinese officials on Friday, 121 more lives were claimed by the new epidemic in the Asian country. The total death toll hovers close to 1,400. China’s National Health Commission reported 5,090 new confirmed cases in mainland China on Feb 14, raising the total number of those infected to 63,851.
The number of reported cases of the disease has taken a faster course after the hardest-hit Hubei province changed its method of counting the cases on Feb 13.
Q4 2019 Earnings Continue to Shine
Shares of NVIDIA Corporation (NASDAQ:NVDA) rose 7% on Feb 14 after the company reported fourth-quarter fiscal 2020 non-GAAP earnings of $1.89 per share, which surpassed the Zacks Consensus Estimate by 13.9%. Revenues of $3.11 billion also beat the Zacks Consensus Estimate by 5.1%. (Zacks Investment Research
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