Stock market live updates: Dow up 150, traders bet on bottom, Apple rebounding

The futures market already had a volatile overnight session. Stocks are set to open lower. Check here for live updates.

Dow quickly cut its gains in half after the opening bell, last up about 160 points. Shares of Apple rallied 2.3% in morning trading, leading the rebound in the technology sector. Microsoft rose 1.7%, while Amazon and Netflix are also in the green.—Li

Analysts just upgraded a ton of stocks in the wake of the market plunge.

  • Oppenheimer upgraded Apple to outperform from perform.
  • JPMorgan upgraded General Electric to neutral from underweight.
  • Cowen upgraded Verizon to outperform from market perform.
  • Baird upgraded Western Digital to outperform from underperform.
  • Stifel upgraded Western Digital to buy from hold.
  • Piper Sandler upgraded JPMorgan to overweight from neutral.
  • Guggenheim initiated Casper Sleep as buy.
  • Stephens named Activision Blizzard as a top pick.
  • Argus upgraded American Express to buy from hold.
  • UBS downgraded SmileDirectClub to neutral from buy.
  • Evercore ISI upgraded Southwest Airlines to outperform from in line.
  • Evercore ISI upgraded Twitter to in line from underperform.

CNBC Pro subscribers can read more here. — Bloom

The Dow Jones Industrial Average climbed about 300 points at the open, attempting to post its first gain in eight days, as Wall Street calls for action from global central banks to combat the coronavirus-induced slowdown. The S&P 500 was up 0.7% after losing more than 11% last week. Traders await a key reading on U.S. manufacturing at 10 a.m. ET for any negative impact from the epidemic.—Li

Futures on the Dow Jones Industrial Average erased early losses, now up about 211 points. S&P 500 and Nasdaq futures also pointed to gains at the open. Traders are betting on coordinated action from global central banks to offset the negative economic impact from the coronavirus.—Li

Source: https://www.cnbc.com/2020/03/02/stock-market-today-live.html

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