By Justin Pei
Rochester — Stocks climbed on Wednesday as investors are shaking off fears around the coronavirus. China reported Wednesday it’s lowest number of new coronavirus cases since January.
The Dow Jones climbed over 200 points or 0.7% at the open, reaching an all new record. Both the S&P 500 and Nasdaq Composite also opened higher. The S&P 500 opened 0.54% or 18 points while Nasdaq rose 0.6% or 63 points.
Oil prices also jumped 2% on Wednesday as China reported a declining number of new cases. Crude oil rose over 3% to trade at $51.34 a barrel. CVS shares topped analysts’ fourth-quarter earnings on the top and bottom line as shares gained nearly 3% in pre-market trading.
Lyft stock fell 10% as the company reported a lower than anticipated loss per share.