Investors showed resilience by pushing stocks back to all-time highs

Posted on February 12, 2020

Traders continue to monitor the impact of the coronavirus outbreak. As of Tuesday night, China’s National Health Commission had reported 97 additional deaths with total confirmed cases passing 44,000. However, the pace of new reported cases appears to be slowing down.

Wynn Resorts and Las Vegas Sands, two stocks tied to coronavirus worries because of their exposure to the Chinese market, each rose more than 2% in the premarket. Delta and American Airlines climbed 1% and 0.4%, respectively.

Federal Reserve Chairman Jerome Powell on Tuesday testified in front of the House Financial Services Committee that the American economy is in a good place, but that the central bank is “closely monitoring” the potential global economic fallout from the virus.