Airline Stocks Rise While Kodak Plummets... Mixed Trends in New York Stock Market (Comprehensive)

[Image source=Reuters Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] The New York stock market closed mixed amid a slowdown in the spread of the novel coronavirus infection (COVID-19) and expectations for economic stimulus measures.

On the 10th (local time), the Dow Jones Industrial Average rose 357.96 points (1.3%) to close at 27,791.44, the S&P 500 index increased 9.19 points (0.27%) to 3,360.47, and the Nasdaq index fell 42.63 points (0.39%) to close at 10,968.36.

On that day, airline stocks surged sharply on news that U.S. air travel increased. United Airlines soared more than 9.3%, and Boeing also rose over 5.5%. Resort operator MGM's stock jumped by as much as 13%.

Kodak, whose stock price surged after declaring a transformation into a pharmaceutical company with U.S. government funding, plunged nearly 30% on news that government support funds would be temporarily suspended until allegations of unfair trading were resolved.

Gold for December delivery closed at $2,039.70 per ounce, up 0.6% ($11.70). Analysts say renewed U.S.-China tensions have driven up gold prices.

West Texas Intermediate (WTI) crude oil for September delivery closed up 1.7% ($0.72) at $41.94 per barrel.

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