Tech and financials lead modest stock gains on virus nerves
U S stock indexes closed higher after a late buy surge driven by technology and financial firms. Traders weighed rising virus cases in China and global growth risks, but WHO remarks on travel measures soothed fears as Amazon posted strong quarterly results and the S&P 500 Dow and Nasdaq inched up while Russell 2000 slipped.
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U.S
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Virus in China could spur U.S. job revival says Ross
Commerce Secretary Wilbur Ross told Fox Business the coronavirus outbreak in China might push American manufacturers to relocate some production to the United States or Mexico. He cautioned against a victory lap amid a deadly illness, noting uncertainty about duration and impact on supply chains.
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American Airlines pilots sue to halt flights to China
The Allied Pilots Association seeks an injunction in Dallas to stop American Airlines from operating U S China services amid the coronavirus outbreak. The union cites health experts calling the virus a public health emergency and notes other carriers are reducing or suspending China flights.
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J and J Penalized Over Pelvic Mesh Marketing Tactics
A San Diego judge ordered Johnson & Johnson to pay nearly 344 million dollars in penalties for deceptively marketing pelvic mesh devices. The ruling marked the first time California officials found the company engaged in false and deceptive business practices.
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