Wall St. saw another record close today. The Dow closed up nearly 1% to hit a record, and the S&P 500 advanced 0.6% to an all-time high.
UnitedHealth climbed more than 4% to lead the Dow higher. Nike, Apple and Caterpillar all rose more than 2%. Tech and energy were the best-performing sectors in the S&P 500, climbing more than 1% each.with total confirmed cases passing 44,000. However, the pace of new reported cases appears to be slowing down as they hit their lowest levels since late January. Chinese lawmakers have also taken steps to curb a possible economic downturn from the coronavirus.
"Investors showed resilience by pushing stocks back to all-time highs, especially in the US, anticipating a strong V-shaped recovery when this is over," Eylem Senyuz, global macro strategist at SunTrust Advisory, said in a note. But "as the coronavirus continues to spread across China and the globe, much of its impact remains unknown."
Wynn Resorts and Las Vegas Sands, two stocks tied to coronavirus worries because of their exposure to the Chinese market, each rose more than 3%.
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