UPDATE: S&P 500 and Nasdaq edge higher in early trade to end a week colored by developments in coronavirus
U.S. stock benchmarks Friday morning were edging slightly higher and looking to maintain strong weekly gains as investors weighed positioning heading into the weekend, amid the continuing spread of COVID-19, the illness derived from the novel coronavirus that reportedly originated in Wuhan, China last year. The Dow Jones Industrial Average traded 18 points, or 0.1%, lower at 29,403, the S&P 500 index gained 0.1% at 3,3766, while the Nasdaq Composite Index climbed 0.2% at 9,727. For the week, the Dow and S&P 500 were on track for a weekly gain of at least 1%, while the Nasdaq was on pace for a gain of more than 2% over the period. China's National Health Commission reported 5,090 new confirmed cases in mainland China, bringing the total to 63,851. The number of new cases jumped sharply on Thursday after a change in the government's counting method. In economic news, retail sales rose 0.3% in January, the government said, matching the MarketWatch consensus forecast. Import prices rose 0.2% during the month, according to a separate government report, and have gained 0.3% in the past 12 months, while industrial production fell 0.3% in January, marking the fourth decline in the past five months. In company news,
-Mark DeCambre; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
February 14, 2020 16:40 ET (21:40 GMT)
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