S&P 500, Dow little changed amid coronavirus worries; Nvidia forecast buoys Nasdaq

Wall Street is on course for a second straight weekly gain after hitting a series of record highs, as a largely positive fourth-quarter earnings season and confidence in the U.S. economy helped investors look past conflicting headlines on the virus outbreak.

Nvidia Corp jumped 6.5% as it forecast first-quarter revenue that topped analysts’ estimates, reinforcing expectations of a rebound in chip demand.

Its shares lifted the Philadelphia SE Semiconductor index by 0.6%, while the broader technology rose 0.1%.

At 9:59 a.m. ET, the Dow Jones Industrial Average fell 0.08% to 29,398.59.

The S&P 500 was down 0.01% to 3,373.74, while the Nasdaq Composite rose 0.04% to 9,715.67.

Among other stocks, Expedia Inc jumped 10.3% after the online travel services company forecast strong quarterly core earnings amid coronavirus uncertainties.

EBay Inc advanced 1.5% as the ecommerce company added $3 billion to its 2020 share buyback plan and forecast profit above analysts’ expectations for the current quarter.

U.S. financial markets are closed on Monday for President’s Day.

Advancing issues outnumbered decliners by a 1.32-to-1 ratio on the NYSE and by a 1.09-to-1 ratio on the Nasdaq.

The S&P index recorded 45 new 52-week highs and one new low, while the Nasdaq recorded 85 new highs and 24 new lows.