The Stock Exchanges in New York Opened on Wednesday With Modest Gains

The stock exchanges in New York opened on Wednesday with modest gains. Wall Street is recovering from the losses a day earlier when an Apple sales alarm due to the impact of the new coronavirus put pressure on sentiment.

 

There are now signs from China that more measures are coming to alleviate the economic pain of the epidemic.

The Dow-Jones index was 0.2 percent higher at 29,292 points just after opening. The broad-based S&P 500 increased 0.3 percent to 3380 points and technology level meter Nasdaq won 0.6 percent to 9788 points.

The Chinese government is reportedly working on a rescue plan for small airlines that are in danger of falling due to measures against the Wuhan virus. This would include mergers and deferrals for repaying loans, sources reported to the Bloomberg news agency.

Offers site Groupon opened the books and reported lower revenue and operating profit in the fourth quarter. The company also announced that from now on it would focus exclusively on outings and no longer on discounted goods. The share plummeted 34.6 percent.

Navigation service provider Garmin achieved record sales last year and announced an increase in its dividend. The share rose 8 percent in the first trading minutes.

Automaker Tesla made a price jump of 5.6 percent. Piper Sandler investment bank has significantly increased the target price for Tesla and points to growth opportunities in the company’s solar energy and battery storage activities.