Stock Market News: Ford Hits the Brakes; Peabody Gets Fired Up
Stock market benchmarks gained ground again on Wednesday morning, with more good news in the fight against the coronavirus spurring follow-on buying after Tuesday's big jump. Researchers have apparently found some promising drug treatments that might be able to fight the virus, and the potential quick removal of the epidemic from the list of worries plaguing market participants was welcome. As of 11:15 a.m. EST today, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 304 points to 29,112. The S&P 500 (SNPINDEX: ^GSPC) had risen 27 points to 3,324, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) picked up 26 points to 9,494.
Earnings season isn't over yet, and automaker Ford Motor (NYSE: F) wasn't able to hit the accelerator pedal the way that some shareholders had hoped to see. Meanwhile, coal miner Peabody Energy (NYSE: BTU) saw its shares soar on news that activist investors have come to terms with the company in an agreement that could help its long-term prospects.
Shares of Ford dropped 10% after the automaker reported its fourth-quarter financial results. Despite assertions that portions of the global giant's business did well, investors weren't pleased with what they saw from Ford overall.
Source Fool.com
