Fears over the economic fallout from the coronavirus outbreak have also been offset by positive economic indicators.Posted on February 11, 2020
Jobs data released last week easily beat analyst expectations while U.S. manufacturing and services activity show signs of improvement.
Both the S&P 500 and Nasdaq Composite closed at fresh highs on Monday, while the Dow jumped more than 170 points. However, companies such as Under Armour have noted they will take a hit from the outbreak. Under Armour warned Tuesday the outbreak could lower sales by $50 million to $60 million.