U.S. Daily Market Review 23.1.20

U.S. stock markets retreated as investors parsed earnings from some Dow components and watched travel and consumer good stocks for any impact from China’s struggles to contain the virus.

The Dow Jones Industrial Average lost 51.28 points, or 0.18%, to 29,134.99, the S&P-500 lost 0.93 points, or 0.03%, to 3,320.82.

The Nasdaq Composite gained 8.26 points, or 0.09%, to 9,392.03.

However, U.S. stocks entered into rising mode from early losses after the World Health Organization said it will not declare the coronavirus outbreak in China to be a global health emergency yet.

Comcast Corp (CMCSA.O) came above forecast but declined more subscribers than analysts predicted, sending its shares 3.6% to a lower side.

The number of officially unemployed Americans surged less than estimates last week, indicating in the labour market continues to tighten.

In fact, initial claims for state unemployment benefits jumped 6,000 to a seasonally adjusted 211,000 for the week ended Jan. 18, according to the Labor Department.

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