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US Stocks Wobble Early                 02/20 09:43

   U.S. stocks edged slightly lower in early trading Thursday as investors 
became more cautious following a record-setting day for major indexes.

   NEW YORK (AP) -- U.S. stocks edged slightly lower in early trading Thursday 
as investors became more cautious following a record-setting day for major 
indexes.

   The virus outbreak originating in China remains a lingering concern as more 
companies say they'll be affected. The world's biggest shipper, A.P. Moller 
Maersk, expects a profit hit in 2020. Air France also expects earnings to 
suffer and Australia's Qantas is slashing flights to Asia.

   Technology and health care companies fell. Nvidia slipped 1.7% and 
UnitedHealth Group fell 1.6%.

   Bond prices rose, sending yields lower. The yield on the 10-year Treasury 
slipped to 1.54% from 1.57%.

   Companies that rely on consumer spending held up better than most. 
Industrial companies also fared well. E-Trade soared after agreeing to be 
acquired by Morgan Stanley.

   KEEPING SCORE: The S&P 500 index rose 0.1% as of 10:07 a.m. Eastern time. 
The Dow Jones Industrial Average and the Nasdaqwere little changed. The Russell 
2000 index of smaller company stocks rose 0.2%.

   OVERSEAS: Markets in Asia were mixed. The Shanghai benchmarkjumped1.8% after 
China's central bank cut interest rates to help ease credit for companies hurt 
by the virus outbreak. European marketsmostly fell.

   RICH CRUST: Domino's Pizza jumped 23.8% after the company delivered 
better-than-expected fourth-quarter profit and surprisingly good sales. The 
company handily beat a key sales measure as it faces increasing competition 
from food delivery companies like DoorDash. .

   BIG DEAL: E-Trade surged 24% after Morgan Stanley said it will buy the 
online brokerage firm for $13 billion, one of the biggest deals on Wall Street 
since the financial crisis. Morgan Stanley fell 4.1%. The deal comes less than 
a year after a vicious fight for customers resulted in discount brokers like 
E-Trade slashing or eliminating fees. Rival Charles Schwab is in the process of 
buying TD Ameritrade.

   EARNINGS: Investors continued digesting a steady flow of corporate earnings. 
Zillow Group jumped 19% and Avis Budget Group also soared 19%after 
reportingsolid financial results. Online postage provider Stamps.com surged 47% 
after blowing away analysts' forecasts. ViacomCBS plunged 17.9% and Boston Beer 
slid 5.9% after reporting disappointing results. 


(CZ)

 
 
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