The stock market gave up ground on Friday, although the losses were reasonably modest. News that President Trump and several others recently traveling on Air Force One tested positive for the coronavirus initially sent stocks sharply lower, but major market benchmarks rebounded to cut their losses by midmorning. Just before 11:30 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 132 points to 27,685. The S&P 500 (SNPINDEX: ^GSPC) had fallen 21 points to 3,360, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) had given up 138 points to 11,189.
Yet it will likely come as no big surprise to learn that some of the fastest-growing up-and-coming tech stocks in the market once again posted gains on a down day for Wall Street. Despite the coronavirus news (or perhaps in part because of it), shares of software-as-a-service (SaaS) stocks had another strong day, with Twilio (NYSE: TWLO) leading the way.
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