Stock Market News: Southwest Airlines Powers Through Headwinds; Union Pacific Chugs Ahead Despite Lower Volumes
The stock market moved lower on Thursday morning, investors watching nervously as an outbreak of coronavirus in China raised global health concerns. Market participants worry that the disease could disrupt economic activity if it becomes widespread, and Chinese stocks in particular were weak as investors mulled over the potential business implications. As of 11:20 a.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) had fallen 180 points to 29,006. The S&P 500 (SNPINDEX: ^GSPC) dropped 15 points to 3,307, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) lost 20 points to 9,364.
We're currently near the peak of earnings season, and the readings thus far have been mixed. Southwest Airlines (NYSE: LUV) managed to post modest gains despite some discouraging numbers in its most recent quarterly report, but Union Pacific (NYSE: UNP) got the benefit of more favorable results.
Shares of Southwest Airlines were up between 1% and 2% in the wake of the airline's fourth-quarter financial report. That came despite a drop in Southwest's bottom line, and even with the rise in share price, investors still aren't entirely sure how to get past concerns about the future of the 737 MAX aircraft.
Source Fool.com
