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Wall Street opens higher as outbreak spreads and companies warn on impact
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 Shares of cruise operators continued to sell off, reversing earlier brief bounces into positive territory, amid growing fears over the global spread of COVID-19. Shares of Carnival Corp. , which had edged up as much 1.0% in early trading, dropped 2.2% toward the lowest close since October 2014, as the stock has tumbled 19.1% amid a 5-session losing streak. Royal Caribbean Cruises Ltd.'s stock slumped 1.8%, after being up as much as 1.6% earlier, toward the lowest close since January 2017. It was headed for a ninth-straight loss, which would be the longest losing streak since the nine-day stretch ended Feb. 13, 2003, according to Dow Jones Market Data; the stock has plunged 25.0% during the current streak. Norwegian Cruise Line Holdings Ltd. shares reversed an earlier gain of as much as 0.7% to trade down 2.8% toward the lowest close since November 2016. The stock was suffering a 5-day losing streak in which it slid 26.5%. Meanwhile, the S&P 500 rose 1.5%, putting it on track to snap a 4-day losing streak in which the index shed 7.6%.
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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 Markets have taken a pounding in recent sessions, with the S&P 500 losing nearly 8% in the last 6 days. Opinion is divided on the cause, with most pointing to the impact of the coronavirus outbreak on China's economy and on global trade and travel patterns. It hasn't escaped notice, however, that the sudden hit to the market has occurred just as Senator Bernie Sanders, an avowed socialist with a vigorous anti-Wall Street policy platform, has taken a commanding lead in the race for the Democratic Party Presidential election nomination.Whatever the reason, markets have erased the gains they've posted so far in 2020, and fallen back to their December 2019 levels. It may not be a warning sign to get out of stocks, but it's certainly a reminder that it's never too late to buy into a defensive portfolio. And that will naturally bring dividend stocks to mind.Any strong defensive investing strategy will include dividends. They ensure an income stream, even when markets turn down. Warren Buffett, certainly no stranger to smart investing, is long-term fan of dividend investing, as a look at Berkshire Hathaway's holdings shows.The Oracle of Omaha is bumping up his holdings when it comes to dividends, and he's openly citing the coronavirus scare. While conceding in a recent CNBC interview that the viral outbreak is certainly "scary stuff," Buffett adds that the long-term outlook remains strong. And when Warren Buffett says, ‘long term,' he means just that: "We're buying businesses to own for 20 or 30 years. We think the 20- to 20-
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Wall Street opens higher as outbreak spreads and companies warn on impact
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 World stocks tumbled for the fifth straight day on Wednesday, while safe-haven gold rose back towards seven-year highs after health authorities warned of a possible coronavirus pandemic and markets stepped up bets on interest rate cuts.
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The National Retail Federation forecasts that retail sales in 2020 will rise between 3.5% and 4.1% to more than $3.9 trillion, even with uncertainty from coronavirus, the presidential election and the trade war. "With gains in household income and wealth, lower interest rates and strong consumer confidence, we expect another healthy year ahead," said Matthew Shay, chief executive of the NRF, in a statement. "There are always wild cards we cannot control like coronavirus and a politically charged election year. But when it comes to the fundamentals, our economy is sound and consumers continue to lead the way." NRF notes that the forecast "assumes that coronavirus does not become a global pandemic." Jack Kleinhenz, NRF's chief economist, highlights the unemployment rate, which is at a near 50-year low, and low interest rates, which are a driver for home buying and consumer spending. One area of concern for corporate executives is trade policy. Retail sales grew 3.7% in 2019 to $3.79 trillion, according to preliminary results. Non-store sales, which is primarily online sales, reached $777.3 billion, up 12.9%.The SPDR S&P Retail ETF has lost 5.6% over the past year. The Amplify Online Retail ETF has gained 7.5%. And the S&P 500 index is up 13.3% for the last 12 months.
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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 The newly promoted COO says the automaker must fix warranty and launch issues, accelerate its connectivity efforts and grow opportunities with electric and autonomous vehicles.
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Salesforce.com Inc said on Tuesday Keith Block has stepped down as co-chief executive officer, making Marc Benioff the sole CEO of the business software company, sending its shares down nearly 3% in extended trading.
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