NEW YORK - Wall Street stocks finished higher on Thursday , advancing after the World Health Organisation declared the coronavirus an international emergency but did not recommend restrictions on the movement of people.
The market's reaction"might seem counterintuitive," O'Hare added, but by not recommending restrictions on people and goods, the emergency announcement"seemingly helped reduce concerns that other countries, particularly large developed economies, might follow China's lead in also restricting the movement of people and goods."The broad-based S&P 500 advanced 0.3 per cent to close at 3,283.66, and the tech-rich Nasdaq Composite Index also rose 0.
Among individual companies, Tesla rocketed up 10.3 per cent as fourth-quarter earnings topped expectations and the company characterised 2019 as a"turning point" after years of losses. But Facebook plunged 6.1 per cent despite reporting higher quarterly profits. Analysts cited slowing growth and disappointment with elements of the company's forecast.