US stocks ended the week at a new record high shaking off concerns over the coronavirus. The S&P 500 gained 1.7% and the Dow climbed 1.2% over the week. Abroad, the FTSE All World Ex US rose 0.4% for the week. The 10-year Treasury yield was relatively flat, ending at 1.59%.
In testimony before congress Fed chief Powell said they were watching the impacts of the coronavirus carefully, but the Fed planned to continue its wait and see approach to policy changes in the Fed’s benchmark rate.
Industrial production fell 0.3% in January.
Consumer sentiment climbed in February.
Retail sales rose 0.3% in January, the strongest pace since October.
The merger of T-Mobile and Sprint was approved by the US government.