S&P 500, Nasdaq extend record-setting rally on hopes Coronavirus may peak soon


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S&P 500, Nasdaq extend record-setting rally on hopes Coronavirus may peak soon

On Tuesday, the 11th of February 2020, Wall St. scored robust gains while benchmark S&P 500 alongside Nasdaq extended their record-setting rally to clock another record closing high following remark of a top Chinese health advisor had eased demand related concerns which had battered US stocks over the early days of the epidemic outbreak.

Apart from upbeat comments from a top Chinese health advisor who said the coronavirus epidemic would likely to reach its peak on February and then to begin easing from March, robust gains of T-Mobile US Inc. alongside Sprint Corp.

following a court verdict that ruled in favour of the Sprint-T-Mobile merger, had also tuned up the tones of Tuesday’s (February 11th) Wall St. Meanwhile, addressing to a growing extent of investors’ optimism on Tuesday’s (February 11th) Wall St., a chief market strategist at National Securities in New York, Art Hogan said late on Tuesday (February 11th), “For the time-being, investors are willing to say ‘we are going to invest in what we know’ and what we know right now is that the U.S.

economy is in pretty good shape, earnings have been better than expected and the Fed continues to have our back. ” Citing statistics, on Tuesday’s (February 11th) market wrap-up, Dow gained 0.29 per cent to 29,361.15, S&P added 0.43 per cent to 3,366.58, while the tech-heavy Nasdaq was heaved 0.46 per cent higher to wind down Tuesday’s (February 11th) market at 9,672.68.