Morning Report 23 Jan 20: Stocks shrug off Coronavirus concerns

US sharemarkets eased on Wednesday. Investors monitored news of the spread of the Wuhan coronavirus in China. The number of deaths from the virus has lifted to 17 with 550 cases reported. In response to earnings, shares in IBM rose by 3.0% but shares in Netflix fell by 2.9%. Shares in Boeing fell by 1.9%, up from the lows but acting as a drag on the Dow Jones index. Shares in Tesla rose by 3.5%. With an hour of trade to go, the Dow Jones index was up by 35 points or 0.2%. The S&P500 index rose by 0.2% and the Nasdaq index was up by 41 points or 0.4%.

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