Stock market live updates: Stocks rebound, Dow up 100, Regeneron speeds up drug

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Shares of biotechnology company Regeneron hit a new 52-week high of $503.20 per share on Tuesday after the company said it aims to have doses of a potential drug for COVID-19 ready to start human clinical trials by early summer. Shares of Regeneron last traded up about 9%. —Fitzgerald 

McDonald’s is asking its U.S. franchisees to close their dining rooms as the company responds to the coronavirus outbreak. The fast-food giant also plans to close the dining rooms in its company-owned locations in the U.S. Customers will be able to order their food and drinks for takeout or delivery or via the drive-thru. McDonald’s owns about 5% of its roughly 14,000 U.S. restaurants. Shares of McDonald’s fell nearly 6% in morning trading. —Li

Stocks quickly lost their gains on Tuesday, with the Dow briefly dipping into negative territory. The average fell 100 points less than 15 minutes after the opening bell but last traded up more than 100 points. The S&P 500 and the Nasdaq stayed in the green but also pared gains. – Fitzgerald 

Stocks attempted a rebound from the worst day since 1987, with all three major averages opening in positive territory on Tuesday. The Dow Jones Industrial Average rose 410 points, or 2%. The S&P 500 rose 2.2% and the Nasdaq jumped 2.2%. – Fitzgerald 

Source: https://www.cnbc.com/2020/03/17/stock-market-today-live.html

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