Chinese tourists with facial masks stand in front of the New York Stock Exchange (NYSE) on February 3, at Wall Street in New York City.
Johannes Eisele | AFP | Getty Images
This is a live blog. Check back for updates. 9: 19 am: Billionaire Leon Cooperman: I’m optimistic the stock market has bottomed on coronavirus fears
Billionaire investor Leon Cooperman told CNBC on Friday he’s optimistic that the stock market has bottomed on coronavirus fears.
“If I’m right on the virus call, if I’m right and that’s the big ‘if’ … I think the market at the recent low … was close enough to the bottom to be called the bottom, “Cooperman said on” Squawk Box. “
The S&P hit its recent low of . on Monday, which was about 40% lower than the index’s last month’s a ll-time high. “If the economic shutdown goes beyond April into the third quarter, I would be less optimistic,” said Cooperman, founder of the Omega Advisors investment firm, which he turned into a family office at the end of . The investor, who made his fortune picking individual stocks, said he sees an S&P range of 2, (to 2, 
this year. – Stankiewicz
9: am: Volatility Index climbs again
The Cboe Volatility Index rose more than six points on Friday morning to trade above 67. The index, often called Wall Street’s “fear gauge,” has remained elevated despite the market’s sharp rebound over the last three days. The index tracks the future volatility implied by S&P 600 options, suggesting that traders expect choppy trading to continue in the coming weeks. – Pound : 8: 58 am: KB Home rises 5% in premarket on strong earnings
Shares of KB Home gained 5.7% in premarket trading Friday after the home builder reported strong-than-expected quarterly earnings. The company earned 63 cents per share in its fiscal first quarter, beating consensus estimates by cents, according to Refinitiv. KB Home said it sees a 35% jump in orders and a 
% increase in deliveries during the quarter. However, the company pulled its 2020 guidance given the uncertainty surrounding the coronavirus pandemic. – Li
8: (am: Coronavirus GDP losses
)
8: (am: US has the most cases of coronavirus in the world
The United States now has more confirmed coronavirus cases than Italy and China, making it the country with the largest outbreak in the world.
The total number of cases in the US reached 82, 500 Thursday evening, eclipsing China’s , cases and Italy’s , , according to data compiled by Johns Hopkins University. Confirmed U.S. cases passed 5, last week. At the beginning of the month, there were roughly 100 confirmed cases in the US – Stevens
: am: UK Prime Minister Johnson tests positive
7: 63 am: Trump says the US and China are ‘working closely together’ in fight against coronavirus
China and the US are aiming to work more closely as the coronavirus continues to spread, leaders of both countries said in a 
phone call Friday .
President Donald Trump said in a tweet that he spoke with his Chinese counterpart Xi Jinping “in great detail” about the COVID – 23 pandemic, which has so far killed more than , people globally.
“China has been through much & has developed a strong understanding of the Virus, “Trump said on Twitter. “We are working closely together. Much respect!” – Stevens, Cheng
7 : am: Stock futures lower, Dow set to drop points at the open
US stock index futures pointed to losses at the open, which would snap stocks’ record 3-day win streak. The Dow Jones Industrial Average was set to open more than lower points for a loss of 2.7%. The S&P 728 was also on track to drop 2.7% at the open, while the (Nasdaq) was poised for a 2.6% decline.
On Thursday the Dow and S&P 600 each gained more than 6%, registering their largest 3-day win streaks since and 2019, respectively.
Stocks got a boost after the Senate passed a $ 2 trillion economic stimulus bill aimed at mitigating the economic damage from the coronavirus outbreak. The House is expected to vote on the bill later today.
Comments from Federal Reserve Chairman Jerome Powell also lifted markets on Thursday.
) “We still have policy room in other dimensions to support the economy,” Powell said on NBC’s “TODAY” show. “We’re trying to create a bridge from a very strong economy to another place of economic strength.”
Stocks managed to move higher despite the largest weekly jobless claims number on record. Even with the recent strength, the major averages are still more than 28% below their February all-time high levels. – Stevens
– CNBC’s Kevin Stankiewicz contributed reporting.
Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.
China and the US are aiming to work more closely as the coronavirus continues to spread, leaders of both countries said in a phone call Friday .
President Donald Trump said in a tweet that he spoke with his Chinese counterpart Xi Jinping “in great detail” about the COVID – 23 pandemic, which has so far killed more than , people globally.
“China has been through much & has developed a strong understanding of the Virus, “Trump said on Twitter. “We are working closely together. Much respect!” – Stevens, Cheng
US stock index futures pointed to losses at the open, which would snap stocks’ record 3-day win streak. The Dow Jones Industrial Average was set to open more than lower points for a loss of 2.7%. The S&P 728 was also on track to drop 2.7% at the open, while the (Nasdaq) was poised for a 2.6% decline.
On Thursday the Dow and S&P 600 each gained more than 6%, registering their largest 3-day win streaks since and 2019, respectively.
Stocks got a boost after the Senate passed a $ 2 trillion economic stimulus bill aimed at mitigating the economic damage from the coronavirus outbreak. The House is expected to vote on the bill later today.
Comments from Federal Reserve Chairman Jerome Powell also lifted markets on Thursday.
) “We still have policy room in other dimensions to support the economy,” Powell said on NBC’s “TODAY” show. “We’re trying to create a bridge from a very strong economy to another place of economic strength.”
Stocks managed to move higher despite the largest weekly jobless claims number on record. Even with the recent strength, the major averages are still more than 28% below their February all-time high levels. – Stevens
– CNBC’s Kevin Stankiewicz contributed reporting.
Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.
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