Stock Market News: These 2 Rising Stocks Are Solving Coronavirus Challenges
The stock market was relatively quiet on Thursday morning, with a lack of volatility that was eerily reminiscent of the days before the coronavirus pandemic threw the global economy into panic. Weekly jobless claims numbers in the U.S. were once again at extremely high levels above 5.2 million, showing the extent of the economic damage that the COVID-19 outbreak has done. As of 11 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 27 points to 23,477. However, the S&P 500 (SNPINDEX: ^GSPC) rose 13 points to 2,796, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) gained 120 points to 8,514.
Stocks in many sectors have gotten hurt hard by the coronavirus, but some companies are finding ways to profit by offering their help to their customers. Abbott Laboratories (NYSE: ABT) expects to see a boost to its financial results from making its coronavirus test available to medical professionals. Meanwhile, Slack Technologies (NYSE: WORK) has benefited from the rise in working from home and people's need to stay connected to their fellow co-workers remotely.
Shares of Abbott Labs were higher by 4% Thursday morning after the pharmaceutical giant reported its first-quarter financial results. Gains in revenue and adjusted earnings were noteworthy, but investors were really excited about the prospects for future sales from coronavirus-related products and services.
Source Fool.com
