Stock market live updates: Stocks rally off lows, E-Trade surges, gold rises to 7-year high

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Vehicle auction company Copart was one of the worst performers in the S&P 500 in early trading after missing estimates for its fiscal second quarter. Shares of the company fell roughly 11% to under $93 per share after reporting adjusted earnings per share of 65 cents and $575.1 million of revenue. Wall Street analysts expected 66 cents per share and $576.1 million of revenue, according to FactSet. Copart’s vehicle sales fell by nearly $3 million compared with the same period last year. —Pound

Gold rose 0.5% to $1,621.60 per ounce on Thursday, its highest level since Feb. 15, 2013. The metal is on pace for its sixth straight positive day, and eighth positive week in nine. As the coronavirus outbreak continues, investors fearing a slowdown in global growth are piling into so-called safe haven trades such as gold. —Francolla, Stevens

Shares of Virgin Galactic rose as much as 5% as investors continued to trade the stock at a breakneck pace. More than 10 million shares of Virgin Galactic changed hands in the first five minutes of Thursday trading, according to FactSet, more than half the stock’s daily average volume. — Sheetz

Stocks opened modestly lower across the board to start Thursday’s session as UnitedHealth dragged the Dow into negative territory. Equities came under pressure in premarket trading following Federal Reserve Vice Chairman Richard Clarida’s comments to CNBC that threw cold water on the prospects of a future interest rate cut, which investors had been pricing in. E-Trade led the S&P 500 higher after Morgan Stanley said it’s agreed to buy the brokerage for $13 billion. L Brands, ViacomCBS were among the biggest losers. — Franck

Source: https://www.cnbc.com/2020/02/20/stock-market-today-live.html

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