Stock market news live: Stocks surge as rebound rally continues - Yahoo Finance

U.S. stocks added to Monday’s gains, with the Dow up more than 400 points around market open. In China, the Shanghai Composite recouped some of Monday’s more than 7% decline, rising 1.34% during Tuesday’s session even as confirmed coronavirus cases rose.

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10:16 a.m. ET: Ralph Lauren has closed half its stores in China as coronavirus outbreak escalates

Ralph Lauren (RL) on Tuesday became one of the latest companies to signal its operations in China would temporarily cease amid fears over the coronavirus.

The fashion company said during a call with investors Tuesday it had closed half of its 110 stores in China as the coronavirus outbreak continues. CEO Patrice Louvet said China comprised less than 4% of annual sales. In the longer-term, Ralph Lauren is still “very bullish” about its opportunity in the region, Louvet added.

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10:00 a.m. ET: Factory orders climb 1.8% in December, topping expectations

U.S. factory orders rose a better than expected 1.8% in December after a downwardly revised 1.2% decline in November, the Census Bureau said Tuesday. Factory orders were expected to have risen just 1.2%, according to Bloomberg-compiled consensus data.

Excluding transportation orders, factory orders were still up 0.6%, topping the 0.1% rise expected.

The report adds to signals of a rebounding manufacturing sector after a soft 2019, with the Institute of Supply Management’s manufacturing purchasing managers’ index rising above 50 to indicate expanding activity in the sector in January for the first time since July.

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9:53 a.m. ET: Stocks surge, Dow adds 400+ points

Each of the three major indices surged shortly after market open, extending a rebound rally from Monday.

Gains in the S&P 500 were led by the health-care and industrials sectors. The communications sector was slightly lower as shares of Google-parent company Alphabet fell 3.6%.

Here were the main moves in markets, as of 9:54 a.m. ET:

S&P 500 (^GSPC): +1.39% or +45.19 points to 3,294.11
Dow (^DJI): +1.52%, or +431 points to 28,830.83
Nasdaq (^IXIC): +1.46%, or +135.87, to 9,407.02
Crude oil (CL=F): +1.00%, or +0.50 to 50.61 per barrel
Gold (GC=F) -$18.40, or -1.16% to 1,564.00 per ounce

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7:36 a.m. ET: Stock futures rise as rebound rally continues

Each of the S&P 500, Dow and Nasdaq were up more than 1% in early trading Tuesday, shaking off fears over the deadly coronavirus that had sent stocks plunging last week.

Shares of Google-parent Alphabet (GOOGL, GOOG) were lower in early trading after the internet search giant missed fourth-quarter sales expectations and reports emerged that the company was facing a privacy probe from the European Union.

Companies reporting results Tuesday including Disney (DIS), Snapchat-parent company Snap (SNAP) and Chipotle Mexican Grill (CMG) after market close.

Here were the main moves during the pre-market session, as of 7:36 a.m. ET:

S&P futures (ES=F): 3,280.00, up 34.5 points or 1.06%
Dow futures (YM=F): 28,667.00, up 306 points or 1.08%
Nasdaq futures (NQ=F): 9,224.75, up 110.5 points or 1.21%
Crude oil (CL=F): $50.75 per barrel, up $0.64 or 1.28%
Gold (GC=F): $1,573.30 per ounce, down $9.10 or 0.58%

Traders work during the opening bell at the New York Stock Exchange (NYSE) on February 3, 2020 at Wall Street in New York City. - Wall Street stocks rose early Monday, bouncing after Friday's rout as markets monitored the coronavirus at the start of a week with key economic data and earnings reports. The Dow suffered the worst losses of the year on Friday as the death toll from the virus continued to climb and the ailment spread to additional countries. (Photo by Johannes EISELE / AFP) (Photo by JOHANNES EISELE/AFP via Getty Images)

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