Stock market news live: Stocks jump on virus treatment hopes, Tesla heads for worst day ever – Yahoo Finance, Yahoo.com

“data-reactid=” “type=” text “> : pm ET: Stocks hold highs as coronavirus fears dissipate

Major benchmarks stay in the green as hopes grow for a coronavirus breakthrough. Here were the main moves in markets, as of midday:

S&P
(

^ GSPC

) : 0. (% or ) points to 3, 558.

(Dow

^ DJI

: ( 1.) %, or (points to) , .

(Nasdaq)

IXIC

)

: 0. 43%, or , to 9,

(Crude oil)

(CL=F)

:

3. 92%, or $ 1. to $ 60 per barrel

Gold (

(GC=F )

)

$ 6. 37 or 0. (% to $ 1, .

per ounce

: 16 pm ET: LinkedIn CEO to resign “data-reactid=” 35 “type=” text “> : (PM ET: LinkedIn CEO to resign

Jeff Weiner, the long-serving chief of the professional network who p resided over the company acquisition by Microsoft, is leaving the building.

broke the news in a LinkedIn post (of course)

, saying that it was time for his “next play” and that he’d turn over the reins to global head of product & nbsp; Ryan & nbsp; Roslansky

: “data-reactid=” “We type (” text “> Weiner

broke the news in a LinkedIn post (of course) , saying that it was time for his “next play” and that he’d turn over the reins to global head of product Ryan Roslansky :

While I’ve been thinking about the timing of this transition for some time, over the last year or so, several factors converged that led me to conclude now is the right time to make this change. For starters, our business has never been better, our culture has never been stronger, and our future has never been clearer. Additionally, my passion for initiatives beyond my day-to-day role as CEO has continued to grow. Most importantly, after working with Ryan for nearly two decades, spanning two companies and countless roles, it’s become clear to me that going forward, his vision, drive and passion are exactly what the role requires.


(Microsoft’s. Microsoft’s stock shed 0. 42% in midday trading, holding around $ . .

: 45 am ET: ISM non-manufacturing index tops expectations, showing re-accelerating economic growth, Capital Economics says

The Institute of Supply Management’s non-manufacturing index climbed in January to a six-month high of 61. 5, topping expectations for 61. 1, according to Bloomberg consensus data. In December, the ISM non-manufacturing index registered at 60. 9.

The report points to ongoing strength in the US services sector, with readings above the neutral level of indicating expansion in sector activity.

January’s advance was led by a jump of 3.9 points in the business activity index , as well as a 0.9 point rise in the new orders index. However, the inventory change index fell to a seven-year low . 5 from . 0 the prior month. The report “provides further evidence that domestic demand growth is recovering, Capital Economics senior US economist Michael Pearce wrote in a note. “With the risks of a domestic epidemic from the coronavirus well contained, we expect economic growth to gradually re-accelerate over the course of 11926469. ”

() : am ET: Dow climbs points after market open

Stocks surged Wednesday morning, pointing to a third consecutive session of advances. Gains in the Dow were led by shares of UnitedHealth and Exxon Mobil. The energy sector led gains in the S&P , with domestic crude oil prices jumping more than 3.5% and paring some of the past week’s losses. Here were the main moves in markets , as of : 16 am ET: S&P (

^ GSPC

: : 0. (% or ) points to 3,

(Dow

^ DJI

: ( 1.) %, or 524. 75 points to ,

Nasdaq

^ IXIC

: 0.6%, or 63. 7, to 9, 728.

(Crude oil)

(CL=F) : -3 . % , or $ 1. to $ . (per barrel

(Gold (GC=F) ()

( $ 2.) , or 0. % to $ 1, . per ounce

– 8: am ET: S&P earnings growth is so far topping expectations for 4Q , Credit Suisse says (Growth for aggregate S&P) earnings per share has topped expectations among companies that have reported fourth-quarter 01575879 results so far, according to an analysis by Credit Suisse analyst Jon athan Golub.

Consensus analysis had headed into fourth-quarter earnings season expecting EPS to contract by 0.3%, or 2.5% excluding corporate buybacks. But with more than two-thirds of S&P 728 companies now having reported, EPS is pacing toward 3.0% (growth) , or 0.8% growth excluding share repurchases. Here’s what Golub had to say in a note Wednesday:

. 2% of the S&P 728 ‘s market cap has reported 4Q results. Earnings are beating by 4.6%, with % of companies exceeding their bottom-line estimates. This compares to 5.2% and (% over the past 3 years.) 4Q expectations are for revenue, earnings, and EPS growth of 2.8%, -0.3%, and 1.9%, respectively. EPS is on pace for 3.0%, assuming a typical beat rate for the remainder of the season.

–

(8:) am ET: Private payrolls surge more than expected in January, according to ADP / Moody’s

Private payrolls rose by , 0 in January , far exceeding expectations, according to a report by (ADP / Moody’s released Wednesday . This marked the best month for private payroll gains since May This follows a slightly downwardly revised , 0 payrolls added in December, from the , 15 0 reported previously for the month. Consensus economists had expected private payrolls to rise by 237, (0 in January, according to Bloomberg-compiled data.