Wall Street close: Mixed outcome on lack of impetus
- The Nasdaq Composite Index added 12.96 points or 0.14% at 9,383.77.
- S&P 500 index SPX ended higher with adding 0.96 points.
- DJIA, only dropped 9.77 points, or 0.03%.
As Wall Street tuned into the opening arguments from Schiff, House impeachment manager, US benchmarks were steadier on Wednesday. The news that the Chinese authorities are taking all measures to contain a possible coronavirus pandemic helped lift spirits in Asia, European markets and reinforced the bullish US earnings from the technology sector.
Subsequently, a mixed picture on Wall Street had the Dow Jones Industrial Average, DJIA, only dropped 9.77 points, or 0.03%, to 29,186.27 while the S&P 500 index SPX ended higher with adding 0.96 points or 0.03% at 3,321.75. The Nasdaq Composite Index added 12.96 points or 0.14% at 9,383.77.
As for China’s National Health Commission, it confirmed more than 17 fatalities as well as 500 cases of the deadly coronavirus, which causes pneumonia. However, Officials at the World Health Organization said the emergency committee is split on whether to declare the new coronavirus a public health emergency of international concern or not as China takes appropriate measures to prevent a full-on pandemic. Instead, traders focussed on positive earnings while keeping an ear to the ground on the Trump impeachment trial – more on that here.