Bloomberg
Published Feb 06, 2020 02:27PM ET
Updated Feb 06, 2020 03:06PM ET
(Bloomberg) -- U.S. stocks continued their relentless push higher even as the economic impact from the deadly coronavirus remains murky. Treasuries were mixed and gold advanced.
The S&P 500’s four-day rally topped 3.5% as major equity benchmarks hit all-time highs on the strength of solid corporate results and signs that central banks stand ready to act if growth falters. The torrid ascent has some firms warning about a sense of euphoria taking over among investors, especially as the coronavirus epidemic continues to spread and China's economy remains virtually locked down. Treasuries erased losses and gold climbed in a sign of some demand for haven assets.
In corporate news, Boeing (NYSE:BA) spiked almost 4% after saying it fixed a software bug in its grounded plane. Twitter Inc (NYSE:TWTR). rallied after topping projections for fourth-quarter revenue. Strong results helped powered the Stoxx Europe 600 Index to a record. Japaneses equities added more than 2% as Toyota Motor Corp. reported a higher-than-expected profit.
“A lot of the moves this week have been explained by a relief rally that the coronavirus seems to be slowing somewhat, clearly there was a lot of uncertainty embedded in market behavior coming in,” said Mark Heppenstall, chief investment officer at Penn Mutual Asset Management. “It does still have a number of question marks still out there.”
Here are some key events coming up:
Stocks
Written By: Bloomberg
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