MARKETS: Tech companies and banks lead a broad rally for U.S. stocks, as China took more steps to soften the financial impact of the coronavirus outbreak.
News headlines today: Feb. 3, 2020NEW YORK -- as China took more steps to soften the financial impact of the virus outbreak.because of ties to supply chains and sales. Apple rose 3.5% and chipmaker Nvidia climbed 2.9%.
KEEPING SCORE: The S&P 500 index rose 1.7% as of 11:41 a.m. Eastern time. The Dow Jones Industrial Average rose 486 points, or 1.7%, to 28,886. The Nasdaq rose 2%. The Russell 2000 index of smaller company stocks rose 1.5%. Yields for short-term Treasurys are rarely higher than for longer-term Treasurys, and when it does happen, a rule of thumb says a recession may be on the way in about a year or so. This recession warning signal, which has a fairly accurate but not perfect history, had begun flashing in recent days on worries about the virus for the first time since October.
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