S&P notches new record close as markets set aside coronavirus fears, focus on strong data
index set a new record at the closing bell, as markets let coronavirus fears abate and focused instead on positive macroeconomic data out Wednesday. Dow Jones Industrial AverageBoosting market sentiment was an unexpectedly strong private payroll report from ADP and Moody's: Private payrolls increased by 291,000 in January, the best month for the gauge since May 2015, according to ADP and Moody's data.
Also soothing markets were reports from Chinese media of a treatment for coronavirus. The World Health Organization disputed those reports, telling The Financial Times that there"are no known effective therapeutics" for the virus.
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