Wall Street bounces back with reassuring WHO comments on coronavirus

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WALL STREET ENDING UP

by Chuck Mikolajczak

NEW YORK (Reuters) – The New York Stock Exchange ended higher Thursday after a day spent mostly in the red, the World Health Organization (WHO) having favored a rebound in equities. approaching the end of the session by expressing confidence in China‘s ability to stem the current epidemic of coronavirus.

The Dow Jones index gained 124.99 points, or 0.43%, to 28,859.44, more than 350 points above its all-time low. The broader S & P-500 gained 10.26 points, or 0.31%, to 3,283.66.

The Nasdaq Composite, with a strong technological component, advanced by 23.77 points (0.26%) to 9,298.93 points.

The World Health Organization (WHO) Thursday called a public health emergency of international concern the epidemic of coronavirus which killed 170 people in China and spread to 18 countries but it also expressed its confidence in the ability of the Chinese authorities to stem the epidemic and expressed opposition to any restrictions on travel or trade with China.

For individual values, the day on Wall Street was marked by the publication of mixed corporate results.

Facebook fell 6.14%. The social network announced Wednesday expect a slowdown in the growth of its turnover and reports an increase in its costs.

Microsoft was the main contributor to the rise of the Dow with an increase of 2.82% the day after the publication of better than expected quarterly results, marked in particular by good performances in the “cloud”.

Similarly, the title Tesla soared 10.3% after the publication by the electric car manufacturer of a second consecutive quarterly profit. Tesla also said it expects to produce more than 500,000 cars this year.

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(French version Bertrand Boucey)

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