Dow Rises 800 In Volatile Day, Apple Bounces Back

Stocks are rocking wildly as Wall Street attempts to recover from its worst weekly rout since the financial crisis. Check here for live updates.

The sharp rebound in the market continued at noon with the Dow Jones up about 800 points. Apple is 7% Li

Even with Monday's big rally, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite are still at midday correction levels, which means they are still down by at least 10% from their 52-week highs. The S&P 500 and the Nasdaq are located within 1% of the outbound correction territory. Francolla, Li

The real estate and utilities sectors followed the basic actions to exit correctional territory as Wall Street attempted to rebound from its worst weekly rout since the financial crisis. Public service leaders include Eversource Engergyand Consolidated Edison. The health care sector also fluctuates at the limit of correction levels. Francolla, Li

The market is continuing its momentum, the Dow Jones increasing by about 560 points, traders offering higher stocks hoping that the Federal Reserve will act quickly to fight an economic slowdown in the coronavirus. The S&P 500 rose 1.8% for the last time Li

Former Federal Reserve Vice-Chairman Alan Blinder said the Fed was fundamentally committed to cutting rates at its next meeting, but Monday's rebound in the stock market made it less likely a movement before this date. "This morning I think they are probably breathing a little sigh of relief," Blinder said on "Squawk on the Street," adding that the market could fall later today. Delivered

The Dow's rebound accelerated late in the morning, increasing by around 430 points. The S&P 500 climbed 1.4%, while the tech-rich Nasdaq traded 1.3% higher. Apple leads the return of the market, up more than 4.5%. Stocks suffered their worst week since 2008 last week due to fear of coronaviruses. Li

The consumer staples sector moved out of correction territory as it led the S&P 500 higher in trading on Monday. The top performers in the sector were Costco and Clorox, which increased by more than 7% and 6% respectively. The other 10 S&P sectors remain in correction territory. Francolla, Stevens

President Donald Trump struck the Federal Reserve for the eleventh time on Monday and tweeted that the central bank should cut rates "for all the right reasons" amid fears of an economic slowdown thanks to the coronavirus. "As usual, Jay Powell and the Federal Reserve are slow to act. Germany and others are pouring money into their savings." Powell, whom Trump has appointed to head the Fed and has previously called him "strong," "committed," and "smart," often caught fire from the White House, which has repeatedly jawboned the central bank to cut costs. # 39; borrowing. Franck

David Kelly, global chief strategist at JPMorgan Asset Management, said on "Squawk on the Street" that Federal Reserve rate cuts might not help the economy but would support stocks. "The more you push long-term rates, the more you push short-term rates, the harder it is to justify being in bonds rather than stocks. And I think that helps put some kind floor under the stock market, "says Kelly. He also said he doesn't expect the coronavirus epidemic to hurt the economy in the long run. "I always thought that 2020 was going to be the election year. It turns out that 2020 is the year of the virus, but it is probably just this year". Delivered

Apple and Microsoft made progress earlier in the negotiation as many names in the tech sector, including chip stocks, came under pressure. Apple stocks gained more than 2% after Oppenheimer upgraded the title to an outperformance, saying to buy the "recurring revenue machine". Apple and Microsoft are still trading in correction territory, each 14% less than recent highs. Stevens

As the Dow tries to rebound from last week's heavy losses, 28 of the 30 components of the index remain in correction territory, at least 10% below 52-week high levels. Coca-Cola and P&G are the two names that have left correctional territory. – Francolla, Stevens

Significant averages reduced earnings after weaker than expected manufacturing data as the Dow and S&P 500 briefly turned negative. – Stevens

The Institute for Supply Management (ISM) said on Monday that its national index of activity in factories was 50.1 last month, which was lower than the 50.8 expected by analysts. reading above 50 indicates an expansion in the manufacturing sector, but the reading for February was down from 50.9 in January.– Stevens

Robinhood, the pioneer of free trade favored by young traders, said it was experiencing a "system-wide outage" amid heavy trading volumes on Monday. Stocks rebound after their worst week since 2008.Li

Dow quickly cut his earnings in half after the opening bell, up about 160 points. Apple stocks rose 2.3% in morning trading, leading the rebound in the tech sector. Microsoft rose 1.7%, while Amazon and Netflix are also in the green.Li

Analysts have just upgraded a ton of stocks following the market downturn.

• Oppenheimer improved Apple to outperform compared to perform.
• JPMorgan changed General Electric from neutral to insufficient.
• Cowen upgraded Verizon to outperform market performance.
• Baird upgraded Western Digital to outperform underperforming.
• Stifel upgraded Western Digital to buy pending.
• Piper Sandler has improved overweight neutral JPMorgan.
• Guggenheim launched Casper Sleep as a purchase.
• Stephens named Activision Blizzard as the first choice.
• Argus upgraded American Express to buy pending.
• UBS downgraded SmileDirectClub to make it purchase neutral.
• Evercore ISI upgraded Southwest Airlines to outperform the route.
• Evercore ISI has upgraded Twitter's online underperformance.

CNBC Pro subscribers can find out more here. Flowering

The Dow Jones Industrial Average climbed about 300 points at the opening, trying to post its first gain in eight days, as Wall Street calls the actions of global central banks to fight the slowdown. induced by coronaviruses. The S&P 500 rose 0.7% after losing more than 11% last week. Traders await a key reading on American manufacturing at 10:00 a.m.ET for any negative impact of the epidemic.Li

Dow Jones' industrial average futures have wiped out early losses, now up about 211 points. S&P 500 and future NASDAQs also indicated gains at the opening. Traders are betting on coordinated action by global central banks to offset the negative economic impact of the coronavirus.Li

The 10-year US Treasury yield could further decline in record territory and eventually reach 0.75%, said strategist Komal Sri-Kumar. "Usually when the yield starts to drop it drops very quickly," he said on CNBC's "Squawk Box". "Now that we're close to 1%, my next goal is 0.75%." He noted that inflation and economic growth forecasts all suggest that the benchmark rate will fall. The 10-year yield hit a record high overnight, falling below 1.04% for the first time. Imbert

Markets have no doubts that the Federal Reserve is poised to break through serious interest rate cuts to fight a slowdown linked to the new coronavirus. According to CME's FedWatch tracker, traders have fully assessed a 50 basis point reduction by the March central bank meeting, a 75% probability of an additional 25 basis points in April and a probability of 70% for another 25 basis point move by September. . That's not all: the market attributes a 40% chance to another move in December that would reduce the overnight rate to a range of 0.25% to 0.5%, and a probability not negligible of 10% to go to zero. On this last point, JP Morgan economists see an even greater likelihood that business economists believe there is a 1 in 3 chance that the Fed will go to zero by the end of summer. cox

Apple shares rose 1.7% in the pre-market after tech giant Oppenheimer's upgrade, saying the company's products and strong balance sheet should Help resist any economic uncertainty d

eu to coronavirus. "We believe that Apple products and services will be more resilient than competing products in times of uncertainty," said analyst Andrew Uerkwitz. The firm also said the company is a "recurring revenue machine" and that the tech giant should be able to withstand all the fears of coronaviruses. Flowering

The European Central Bank said on Monday that the rapidly spreading coronavirus added uncertainty to the prospects for global growth, and is ready to intervene to combat any economic impact. "The Governing Council is ready to adjust all of its instruments, if necessary, to bring inflation closer to its target in a sustainable way," ECB Vice President Luis de Guindos. These remarks marked a change in tone from last Thursday, when President Christine Lagarde told theFinancial timesthat the coronavirus has not reached the point where monetary policy makers must intervene. Li

The manufacturer of household cleaning products joined the discussions Monday morning before marketing, the coronavirus continuing to spread around the world and stimulating the demand for disinfectant wipes, gels and sprays. News of new cases in metropolitan areas like New York, in particular, has triggered an increase in production at companies like Clorox, Lysol and Purell-Gojo Industries, which manufacture hand sanitizers and other cleaners with ethanol and bleach, the Wall Street Journal. reported on Friday. Franck

The first coronaviruscase in Manhattan has been confirmed, a woman who recently traveled to Iran and is currently isolated in her home. Meanwhile, the disease spreads rapidly in South Korea and Japan. South Korea has reported 123 additional cases of coronavirus, bringing the country's total number of infections to 4,335. Japan has confirmed five other cases in Hokkaido, bringing the total number of infections in the country to 77 country. The Iranian Ministry of Health said that 66 people died from coronavirus. Li

Twitter stocks jumped more than 5% in pre-market trading on Monday after announcement that Elliott Management founder and billionaire investor Paul Singer is looking to replace Twitter CEO Jack Dorsey, a someone close to the case told CNBC. The company said that Dorsey's attention was split between managing Twitter and Square, among others. Twitter shares have lost 22% in the past 6 months. Stevens

The 10-year Treasury yield fell to a new record low below 1.04% as the historic decline in US rates continued amid the coronavirus epidemic and Wall Street calls for stimulus from the Federal Reserve. The 10-year benchmark rate, which is moving in the opposite direction to prices, fell by around 37 basis points in February alone. The federal funds futures market already set a 50 basis point drop at the Fed meeting this month, according to the CME Fed Watch tool. Li

Friday's shares quickly reduced their losses in the last 15 minutes of trading, which is the first evidence of "downside depletion," according to Rich Ross, technical analyst at Evercore ISI. Therefore, investors should use the intraday trough of the S&P 500 on Friday 2,853 as "the new line in the sand," said Ross. Below this level, there are only two notable levels of support at 2,722 (-7%) and 2,632 (-10%), he added. Li

China's official purchasing managers index (PMI), a gauge for its manufacturing sector, plunged to a record low of only 35.7 in February compared to 50.0 in January, announced Saturday the National Bureau of Statistics. Any reading below 50 signals a contraction. The grim reading provides the first official snapshot of the state of the Chinese economy since the outbreak of the coronavirus epidemic that killed nearly 3,000 people in mainland China and infected about 80,000. Li

The worst market rout since the financial crisis is expected to resume as equity futures fall again before the opening bell. Futures futures were down about 168 points, indicating a loss of around 207 points at the start of Monday. The futures market experienced a volatile overnight session during which Dow futures traded in a range of more than 1,000 points. S&P 500 and Nasdaqfutures also reported more losses at the end of the day. ;opening. Li

CNBC & # 39; s Thomas franck, Jeff Cox, Gina Francolla and Michael Bloom contributed reports

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