Nasdaq at record high as investors look past coronavirus impact on supply chains
Stocks traded higher on Monday as Wall Street investors pushed past concerns about the coronavirus outbreak’s potential disruption to supply chains, partly due to expectations of continued monetary support from the Federal Reserve.
What’s driving the market? Stocks bounced back last week from an end-of-January selloff as worries about the spread of the coronavirus outbreak that emerged in China took a back seat. The buoyant mood extended on Monday even as investors kept an eye on developments surrounding the spread of the illness in the country and beyond.
The 10-year U.S. Treasury note TMUBMUSD10Y, -2.44% yield traded lower by about 1.8 basis points to 1.559%. Bond prices move inversely to yields.
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