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 Companies across
China are handing out masks and warning staff to avoid the
central city of Wuhan amid fears that the new flu-like
coronavirus will rapidly spread with much of population
embarking on travel for Lunar New Year holidays.
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 (Bloomberg) -- Tesla Inc.'s market value has climbed above Volkswagen AG's for the first time to more than $100 billion, a threshold that will trigger a huge payout for Elon Musk if he can sustain the feat for months.The electric-car maker's shares soared as much as 8.6% on Wednesday to a new intraday high of $594.50. At that price, Tesla's market capitalization was roughly $107.2 billion, exceeding Volkswagen's $99.4 billion and trailing only Toyota Motor Corp.While Musk's skeptics are dubious that Tesla should be worth more than a carmaker that sold almost 30 times as many vehicles last year, Volkswagen's own Herbert Diess isn't so dismissive. He's been arguably the most vocal CEO among traditional carmakers to praise Tesla and point to its role in a radical shakeup of the more than century-old auto industry.After saying three months ago that Tesla was no niche manufacturer anymore, Diess told top Volkswagen executives at an internal meeting in Germany last week that connected vehicles will almost double the time consumers spend online, and that cars will "become the most important mobile device.""If we see that, then we also understand why Tesla is so valuable from the view of analysts," he said.Diess, 61, is rolling out the industry's largest electric-car fleet and aims to boost the company's value to a level rivaling Toyota, whose $232 billion market cap is still more than Tesla and VW's combined."Tesla has high innovative strength regarding battery-electric vehicles as well as connectivity, which can partly exp
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 United Airlines Holdings Inc does not expect to fly the Boeing 737 MAX this summer, President Scott Kirby said on Wednesday, following news from Boeing Co that it does not expect to win approval for the MAX to fly again until mid-year. United and other U.S. airlines that operate the 737 MAX had been scheduling flights on the aircraft in June, based on assumptions that the aircraft could receive regulatory approval in the first quarter.
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 U.S. home sales jumped to their highest level in nearly two years in December, the latest indication that lower mortgage rates are helping the housing market to regain its footing after hitting a soft patch in 2018, though record low inventory could be an obstacle to continued strong gains.
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 The premarket stock moves of companies reporting earnings would add about a net 22 points to the Dow Jones Industrial Average's price, as a rally in International Business Machines Corp. shares more than offset a drop in Johnson & Johnson's stock . Dow futures rose 79 points. IBM's stock surged 4.0% toward a 3 1/2-month high ahead of the open, with the implied price gain acting as a 37-point boost to the Dow's price. IBM reported late Tuesday revenue that surprisingly increased from a year ago and an adjusted profit that beat expectations. Johnson & Johnson shares slipped 1.5% after the consumer products and pharmaceutical company topped fourth-quarter profit expectations but came up a bit shy on revenue, with the implied price decline acting as a 15-point drag on the Dow.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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IBM beat analyst estimates and guided for growth, and Apple is reportedly prepping a low-cost iPhone for the masses.
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United Airlines Holdings Inc does not expect to fly the Boeing 737 MAX this summer, President Scott Kirby said on Wednesday, following news from Boeing Co that it does not expect to win approval for the MAX to fly again until mid-year. United and other U.S. airlines that operate the 737 MAX had been scheduling flights on the aircraft in June, based on assumptions that the aircraft could receive regulatory approval in the first quarter.
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President Trump's top economic advisor said GDP growth in the U.S. should hit at least 3% in 2020.
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