Stocks hit new highs again on Wednesday as China continued battling the coronavirus outbreak.
 | WED, FEB 12, 2020 | | | | DOW | | NAME | LAST | CHG | %CHG | | MSFT | 184.71 | +0.27 | +0.15% | | CSCO | 49.93 | +0.80 | +1.63% | | AAPL | 327.20 | +7.59 | +2.37% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | F | 8.24 | +0.14 | +1.73% | | GE | 13.16 | +0.31 | +2.41% | | MSFT | 184.71 | +0.27 | +0.15% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | MSFT | 184.71 | +0.27 | +0.15% | | MU | 59.27 | +2.02 | +3.53% | | AMD | 53.89 | +0.09 | +0.17% | |
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Stock investors continue driving the market to new highs, betting against the headlines of a global health emergency. Cases of COVID-19, more commonly known as the coronavirus, appear to have stabilized in China, where the outbreak began, but World Health Organization officials warn it isn't over yet. "The outbreak could still go in any direction," said WHO Director-General Tedros Adhanom Ghebreyesus. The epidemic has led to a raft of revisions to Chinese economic growth forecasts, but it has also led to stimulus measures from the People's Bank of China and the nation's government.  The medicine seems to be working for the stock market with all the major U.S. indexes hitting new highs again Wednesday. Testifying before the Senate, Federal Reserve Chairman Jerome Powell wouldn't speculate as to whether the U.S. central bank would have to adjust its policy to combat ill effects from the virus here. "The real question for the Fed is: What is the likely effect on the U.S. economy? And I think we'll begin to see that in economic data coming up fairly soon," Powell said. "The effects should be substantial in China, important but maybe less substantial in their immediate trading partners." Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. |
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