The Dow fell 26.18 points, or 0.09% to end the day at 29,160.09. The S&P 500 climbed 0.11% to 3,325.54. The Nasdaq Composite advanced 0.20% to 9,402.48. Stocks closed well off their session lows as worries over the deadly coronavirus eased.
The World Health Organization addressed the coronavirus outbreak saying it was a "bit too early to consider this event is a public health emergency of international concern." The major averages traded well off their lows on the back of that statement. However, the major averages failed to post substantial gains as the corporate earnings season continued. NBCUniversal-parent Comcast and Travelers posted better-than-expected results, but their stocks closed lower. Further confirmation that the coronavirus situation is not as critical as feared will keep stocks near record levels.
Shares of American and United airlines gained 5.42% and 1.85%, respectively, on the back of the WHO's comments regarding the coronavirus. Biotechnology companies Gilead Sciences and Inovio Pharmaceuticals also gained 0.80% and 11.63%, respectively.