The stock market spent much of Wednesday recovering from the coronavirus fears from earlier in the week. Stocks mainly pared their losses in early trading but began to fall after large company fourth quarter earnings misses and the Federal Reserve's first monetary policy decision of 2020.
Here's how the stock market closed on Wednesday:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
In Major Stock News, Penn National Gaming's
In U.S. Economic News, the U.S. Treasury yields dropped toward session lows after the Federal Reserve's monetary policy decision left interest rates unchanged. The U.S. 10-year declined more than 4 basis points to below 1.6%. In addition, U.S. advanced goods trade deficit widened in December, according to the Commerce Department. The increase was to $68.3 billion from November's report of $63 billion.
In Stock Sector News, sectors remain mixed as the market attempts to recover from initial coronavirus fears and fourth quarter earnings misses. The few that saw positive performance gains include Industrials +0.55%, Materials +0.36%, Utilities +0.30% and Information Technology +0.21%. The rest that posted negative performance include Energy -1.07%, Real Estate -0.63%, Consumer Staples -0.52%, Communication Services -0.43%, Health Care -0.27%, Financials -0.16% and Consumer Discretionary -0.06%.
Lastly, in Commodity and Currency News, crude barrel prices took another deep dive Wednesday as swelling U.S. crude inventories continue to weigh on prices. West Texas Intermediate