After The Bell: Markets Rebound, Amid Coronavirus Scare

Andy Giersher
January 30, 2020 - 6:33 pm
Wall Street Generic

(Photo by Spencer Platt/Getty Images)


CHICAGO (WBBM NEWSRADIO) -- It was a turnaround day on Wall Street Thursday, as stocks erased losses earlier in the session, to close higher after fears surrounding the outbreak of the deadly coronavirus subsided.

The Dow Jones Industrial Average closed up 125 after being down 244 points at session lows, while the S&P 500 added 10. The tech-heavy NASDAQ overcame its early losses and closed nearly 25 points higher for the day.

"I think that investors are starting to believe that, yes, of course a tragedy, but the lasting impact on the Chinese economy and therefore the world economy will likely be minimal,” Jack Ablin, chief investment officer at Cresset Wealth Advisors in Chicago, said.

He adds that he currently sees mid-caps, emerging markets and energy stocks attractive at current levels.