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COVID-19 case tally: 80,238 cases, 2,700 deathsExternal Link

The number of worldwide cases of COVID-19 continues to rise; there are now 80,238 cases in 34 countries and 2,700 deaths, according to the World Health Organization (WHO). While the number of new daily cases in China is falling off, the number of new nations to report cases is rising as are the total cases in South Korea, which have soared, with 977 sickened and 10 dead. Italy is reporting a number of infection clusters, in Northern Italy, with 227 sickened and six dead. Cases there are largely mild; however, WHO officials said Monday that the "rapid increase in reported cases in Italy over the past two days is of concern," particularly given the likely instances of human-to-human transmission of the virus. Italy has closed schools and bars and canceled mass gatherings such as sporting events in the regions where cases have been reported. Iran has 61 cases and 12 deaths. In the U.S., there are now 53 cases, driven by an uptick in positive tests among those individuals who were repatriated from the Diamond Princess cruise ship in Yokohama, Japan. Kuwait is the newest nation to report a case, now to a total of eight cases. COVID-19 is a new coronavirus that was first detected by authorities in December in Wuhan, China. It has primarily impacted China, which has reported nearly 99% of the deaths and 97% of cases.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 25 Feb 2020 14:44:29 GMT
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Coca-Cola says coronavirus has caused delays in export from China of ingredients used in sweetenersExternal Link

Coca-Cola Co. said the coronavirus that broke out in Wuhan, China late last year and has sickened thousands of people has created delays in the production and export of ingredients used in non-nutritive sweeteners. In its 10-K annual report filing with the Securities and Exchange Commission, the drinks giant said it has initiated contingency plans and does not expect a short-term impact from the delays. "However, we may see tighter supplies of some of these ingredients in the longer term should production or export operations in China deteriorate," the company said. It reiterated comments made last week that the virus will negatively impact unit case volume and financial results for the first quarter. "At this time, we do not expect this disruption to have a significant impact on our full year 2020 unit case volume or financial results," said the filing. Coca-Cola shares were flat in early trade, but have gained 30% in the last 12 months, while the Dow Jones Industrial Average , which counts it as a member, has gained 8% and the S&P 500 has gained 15%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 25 Feb 2020 14:33:15 GMT
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Stocks open moderately higher, bouncing after biggest one-day drop in 2 yearsExternal Link

Stocks opened with gains Tuesday, bouncing a day after the Dow Jones Industrial Average and the S&P 500 suffered their biggest one-day percentage decline in two years. The Dow rose 171 points, or 0.6%, to 28,132, while the S&P 500 was up 16 points, or 0.5%, at 3,242. The Nasdaq Composite advanced 81 points, or 0.9%< to 9,303. Major indexes tumbled more than 3% on Monday in a selloff attributed to worries over the spread of COVID-19 outside of China. Shares of Home Depot Inc. rose 2.7% after the home-improvement retailer showed stronger-than-expected quarterly results.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 25 Feb 2020 14:32:20 GMT
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Dow opens about 155 points higher Tuesday as index attempts to claw back from 1,000-point tumble External Link

U.S. stocks opened higher on Tuesday as the Dow and the S&P 500 tried to recover from their worst day in about two years, fueled by worries about the spread of the COVID-19, the deadly infectious disease derived from the novel strain of coronavirus that reportedly originated in Wuhan, China last year. The Dow Jones Industrial Average rose 155 points, or 0.6%, at 28,121, the S&P 500 index climbed 17 points, or 0.5%, at 3,243 and the Nasdaq Composite Index advanced 92 points, or 1%, at 9,313. A number of companies continue to indicate that they will be impacted by the virus, including Mastercard Inc. and United Airlines Holdings Inc. , which both said that they the epidemic could affect their coming quarterly results. Tuesday's trade for the market comes after On Monday, the Dow shed 1,031.60 points, or 3.6%, to settle at 27,960.80, while the S&P 500 slumped 111.86 points, or 3.4%, to close at 3,225.89 - the biggest one-day percentage falls for both indexes since Feb. 8, 2018.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 25 Feb 2020 14:32:09 GMT
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Jabil provides update on factories capacity usage resulting from coronavirus outbreakExternal Link

Shares of Jabil Inc. fell 0.8% in premarket trading Tuesday, after the contract manufacturer said its factories were currently running at about 65% to 70% capacity as a result of the coronavirus outbreak, which is believed to have originated in China. The company said that after a stronger-than-expected start to the fiscal second quarter, overall product demand remains largely as anticipated at the start of the quarter. Jabil said it will provided updated information during its Q2 earnings call, which is projected by FactSet to be on or around March 11. Jabil's stock fell 0.8% in premarket trading Tuesday. It has dropped 9.1% over the past three months through Monday, while the S&P 500 has gained 2.9%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 25 Feb 2020 14:26:25 GMT
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