Stock Market News: Coronavirus Hits NIO; Lilly Suffers Alzheimer's Defeat
Wall Street got off to a good start on Monday, shaking off weakness toward the end of the previous week as investors continued to weigh the prospects for strong economic conditions in the U.S. against the slumping global economy. As of 11 a.m. EST today, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 95 points to 29,197. The S&P 500 (SNPINDEX: ^GSPC) rose 12 points to 3,339, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) picked up 50 points to 9,571.
Worries about the novel coronavirus remained for market participants. And for Chinese electric vehicle maker NIO (NYSE: NIO), the outbreak showed up clearly in financial results. Meanwhile, Eli Lilly (NYSE: LLY) had to deal with disappointment in a much-followed clinical trial seeking an elusive treatment for Alzheimer's disease.
Shares of NIO dropped 3% after the maker of electric SUVs for the Chinese auto market reported its latest operating results. Despite all the talk about electric vehicles following the stunning run-up in shares of Tesla (NASDAQ: TSLA), NIO has seen a lot of turbulence in its share price in recent months.
Source Fool.com
