U.S. Daily Market Review 22.1.20

U.S. stocks advanced today with major benchmarks touching new intraday records, after Chinese promised to take all necessary action to contain a possible coronavirus pandemic.

The Dow Jones Industrial Average inclined 7 points, or 0.02%, at 29,196 midafternoon, while the S&P-500 partly moved and stands at 3,323.

The Nasdaq Composite Index gained 10 points or 0.5%, at 9,380.

Treasury yields partly dropped today as most traders and investors flocked back into risk assets. The yield on the benchmark 10-year Treasury note soared 1.7778%, while the yield on the 30-year Treasury bond rose to 2.2351%.

President Donald Trump announced that U.S. economic growth would have been closer to 4% in case no Federal Reserve rate hikes takes place.

Sales of previously owned U.S. homes rallied at the very end of 2019 to the best pace in nearly two years.


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