Stock market news live: Stocks rebound as investors struggle to overcome coronavirus fears - Yahoo Finance

World markets took a beating on Monday, as the rising number of coronavirus cases outside of China sent investors into a selling frenzy. Both South Korea and Italy have seen a spike in infections, raising the possibility that the mystery virus could be mutating into a pandemic.

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10 a.m. ET: Consumer confidence ticks higher; S&P 500 seesaws

The U.S. consumer rose even as the deadly coronavirus outbreak threatened sentiment around the world. The Conference Board’s February consumer confidence index rose to 130.7 from a downwardly revised January reading of 130.4. Consensus expectations were for 132.2 in February.

Meanwhile, markets lost some steam in early trade. After opening the trading session higher by 0.58%, the broader market turned negative and seesawed between positive and negative territory.

Here’s an updated check of the markets, as of 10 a.m. ET:

• S&P 500 (^GSPC): +0.16%, or up 5.05 points to 3,230.94

• Dow (^DJI): +0.21%, or up 58.38 points to 28,019.18

• Nasdaq (^IXIC): +0.28%, or up 25.53 points to 9,246.81

• Crude oil (CL=F): -0.47%, or down $0.24 to $51.19 a barrel

• Gold (GC=F): -1.39%, or down $23.30 to $1,653.30 per ounce

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9:30 a.m. ET: Stocks open higher, snap a 3-day losing streak

U.S. stocks rose across the major indices and snapped a three-day losing streak following a brutal trading session Monday when the Dow plummeted 1,031.61 points. It was the worst day for the S&P 500 and Dow in two years and only the third time in history when the Dow logged a loss of more than 1,000 points. The other two instances occurred on Feb. 5 and Feb. 8, 2018.

Here were the main market moves, as of 9:30 a.m. ET:

• S&P 500 (^GSPC): +0.58%, or up 18.63 points to 3,244.52

• Dow (^DJI): +0.60%, or up 166.77 points to 28,127.57

• Nasdaq (^IXIC): +0.93%, or up 85.65 points to 9,306.93

• Crude oil (CL=F): -0.19%, or down $0.10 to $51.33 a barrel

• Gold (GC=F): -1.59%, or down $26.70 to $1,649.90 per ounce

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7:30 a.m. ET: Stock futures rally after ugly Monday; HD beats

U.S. stock futures posted early gains, shaking off weakness in Asia and Europe, as investors become increasingly jittery about the possibility that the coronavirus is becoming a worldwide pandemic.

Here’s were the main moves during the pre-market session, as of 7:30 a.m. ET:

• S&P 500 futures (ES=F): 3,234.25, up 8 points or 0.25%

• Dow futures (YM=F): 28,037.00, up 69.00 points or +0.25%

• Nasdaq futures (NQ=F): 9,137.50, up 46.50 points or 0.51%

• Crude oil (CL=F): 51.29, down 0.14 points or -0.27%

• Gold (GC=F): 1,648.90, down $27.70 points or -1.65%

Traders momentarily took comfort in a strong quarterly earnings report from Home Depot (HD), a consumer bellwether and a Dow (^DJI) component.

Stocks are coming off their worst day in 2 years — a rout that saw $1.7 trillion in market capitalization evaporate in a single trading session, according to veteran analyst Howard Silverblatt. On Wednesday, the Nasdaq and S&P set record highs — but since then have hemorrhaged $2.44 trillion in value, according to Silverblatt.

An unexpected surge in confirmed infections in Italy and South Korea — which now has the largest cluster of cases outside of China — is sparking widespread fear and undermining the sense of calm the World Health Organization has strived to project. On Monday, the agency said the virus was “not yet” a pandemic, but could become one.

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2020-02-25 14:33:00Z
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