Nasdaq, S&P at all-time high as tech leads the way

Wednesday, 19. February 2020 19:20

Stocks on Wall Street continued to surge midsession on Wednesday as investors shrugged off yesterday's concerns regarding the coronavirus-related slowdown.

Earlier, the Chinese National Health Commission said the number of newly identified coronavirus cases rose by 1,749, marking the slowest daily increase of new patients since late January. However, both financial and monetary policy institutions still warn that the effect of the outbreak is unlikely to find a way around the US economy.

The Nasdaq 100 added 1% at 1:15 pm ET, breaking a fresh record, with Tesla soaring 7.66%. The S&P 500 rose 0.60% at 1:16 pm ET, also setting a new high-water mark as Garmin surged 7.52%. The Dow Jones Industrial Average gained 0.52% at 1:18 pm ET, thanks in part to Apple's recovery from yesterday slump.

The euro was flat on the dollar, buying $1.07933 at 1:21 pm ET.

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Breaking the News / GG