REUTERS: The S&P 500 and Dow Jones Industrials hit all-time highs on Wednesday as investors drew comfort from a drop in the number of new cases of coronavirus infections in China.
"The estimates for the hit to the Chinese economy is very wide ranging, but mostly there's optimism the impact to the U.S. economy is going to be minimal," said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas.The benchmark S&P 500 has climbed nearly 5per cent from late January lows, as largely positive fourth-quarter earnings, encouraging U.S.
Molson Coors Beverage jumped 4.8per cent after the beer maker beat quarterly profit and sales estimates.Micron Technology Inc gained 5.7per cent after UBS upgraded the chipmaker's shares to"buy".
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