Stocks Climb to Records With Virus Impact Unknown: Markets Wrap
- Dow average reclaims all-time high as Boeing rallies
- Surprisingly good corporate earnings power gains in Europe
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U.S. stocks continued their relentless push higher even as the economic impact from the deadly coronavirus remains murky. Treasuries were mixed and gold advanced.
The S&P 500 Index’s four-day rally hit 3.7% as major equity benchmarks added to all-time highs on the strength of solid corporate results and signs that central banks stand ready to act if growth falters. The torrid ascent has some firms warning about a sense of euphoria taking over among investors, especially as the coronavirus epidemic continues to spread and China’s economy remains virtually locked down. Treasuries edged higher and gold climbed in a sign of some demand for haven assets.