Stocks traded lower but reversed their losses when the World Health Organization declared a global health emergency.
 | THU, JAN 30, 2020 | | | | DOW | | NAME | LAST | CHG | %CHG | | MSFT | 172.78 | +4.74 | +2.82% | | AAPL | 323.87 | -0.47 | -0.14% | | PFE | 37.06 | -0.14 | -0.38% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | GE | 12.73 | -0.21 | -1.62% | | AMD | 48.78 | +1.27 | +2.67% | | MSFT | 172.78 | +4.74 | +2.82% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AMD | 48.78 | +1.27 | +2.67% | | MSFT | 172.78 | +4.74 | +2.82% | | FB | 209.53 | -13.70 | -6.14% | |
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For all the division over a possible recession, one thing is clear: Economic growth is slowing.
CNBC's Jeff Cox writes that growth in the nation's gross domestic product slowed to 2.1% in the fourth quarter - its slowest pace in three years.
That figure would be weaker still were it not for an unusually large decline in imports amid trade tensions with China, writes CNBC's Thomas Franck.  Stocks were down again for much of the day on Thursday as coronavirus cases continued to climb, but those losses were reversed after the World Health Organization declared a global health emergency. The WHO noted, however, that it had confidence in China's ability to control the virus. The outbreak is certain to dent China's economy, but there's no telling what it will do to the U.S., writes CNBC's Patti Domm. White House economic advisor Larry Kudlow on Thursday said he doesn't see a material effect on the U.S. economy from the virus. But the disease is still spreading and generating hourly headlines. "It's going to have a hit on Chinese spending," said Jonathan Millar, Barclays U.S. economist. "We may see more of it in the U.S. but we just don't know at this point. It's very uncertain." Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. |
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