What's Driving Markets? Investors Want to Take Profits and Nike's Miss Weighs

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The Dow is down over 500 points in intraday trading on Friday, as concerns around the coronavirus and the uptick in cases worry Wall Street.

The U.S. has over 2.4 million cases with over 124,000 deaths.

On Thursday, the U.S. reported over 39,300 new infections, which surpassed the previous record that had been set just a day earlier.

Texas, on its own, reported 5,996 new cases. That’s alongside a record high for hospitalizations.

Texas will roll back some reopening plans as coronavirus cases have surged and hospitalizations have soared, about two months after allowing businesses to reopen.

“As I said from the start if the positivity rate rose above 10%, the state of Texas would take further action to mitigate the spread of COVID-19,” Texas Gov. Greg Abbott said. “At this time, it is clear that the rise in cases is largely driven by certain types of activities, including Texans congregating in bars."

Bars in Texas were ordered to close by noon Friday. On Monday, restaurants will go back to 50% capacity. 

Jim Cramer is off on Friday, so Jeff Marks, senior portfolio analyst with Action Alerts PLUS, joined TheStreet's Katherine Ross to talk about the markets. 

Watch the full video above for more.

You can follow Katherine Ross on Twitter at @byKatherineRoss.

Read more from Katherine Ross here.

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