Stock market news live blog for Tuesday, Feb 4
U.S. stocks added to Monday’s gains, even as confirmed coronavirus cases rose.
4:05 p.m. ET: Stocks close higher, maintaining gains
Here’s where the major indices had settled as of 4:05 p.m. ET:
S&P 500 (^GSPC): +1.50% or +48.66 points to 3,297.58
Dow (^DJI): +1.44% or +407.82 points to 28,807.63
Nasdaq (^IXIC): +2.10% or +194.57 points to 9,467.97
Crude oil (CL=F): -0.84% or -0.42 to 49.69 a barrel
Gold (GC=F) -1.49% or -23.60 to 1,558.80 per ounce
2:40 p.m. ET: eBay stock rallies on talk of ICE bid
The Wall Street Journal is reporting that the Intercontinental Exchange (ICE) — the owner of the New York Stock Exchange — has approached eBay (EBAY) with a takeover offer that may value the online marketplace at over $30 billion. Citing unnamed sources familiar with the matter, the ICE approached eBay before, and there’s no guarantee a deal would be consummated.
EBay’s stock jumped by over 7% on the day, with the ICE’s shares falling by over 3%.
12:32 p.m. ET: Stocks hold near session highs, Nasdaq hits fresh record
The three major U.S. stock indices held onto gains during intraday trading Tuesday, with the Dow up nearly 500 points.
The Nasdaq hit a fresh record high of 9,464.23, jumping more than 2% at the highs of the session. Gains were led by shares of Tesla, which jumped more than 17% to over $900 per share.
Here were the main moves in markets, as of 12:32 p.m. ET:
S&P 500 (^GSPC): +1.73% or +56.18 points to 3,205.1
Dow (^DJI): +1.73%, or +492.62 points to 28,892.24
Nasdaq (^IXIC): +1.99%, or +185.23, to 9,458.46
Crude oil (CL=F): +0.6%, or +0.30 to 50.41 per barrel
Gold (GC=F) -$27.10, or -1.71% to 1,555.30 per ounce
10:16 a.m. ET: Tesla’s massive rally continues
Shares of Tesla added to Monday’s run-up, climbing by as much as 20% Tuesday morning to $940 per share. At the highs of the day, that put Tesla’s market valuation at well over $165 billion, or more than four times the market capitalization of peer auto-maker Ford.
Tesla’s stock has more than doubled for the year to date and outperformed any member of the S&P 500.
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.
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.
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
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.
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%