Stock market live updates: Stocks rebound, Dow up 300, Regeneron speeds up drug

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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 

U.S. retail sales fell 0.5% in February, missing analyst expectations of a 0.2% rise, according to estimates from Reuters. Data for January was, however, revised to the upside. For the month sales rose 0.6%. Prior reports had shown a 0.3% acceleration. – Stevens

Piper Sandler has identified a basket of “social distancing” stocks that it believes are set to outperform as people stay inside and work from home in a bid to halt the spread of COVID-19.”We are all in uncharted territory as this rolling global health crisis is uprooting how we all go about our days, our work flow & our social interactions,” the firm said in a recent note to clients.The firm said to favor companies that offer at-home dining, entertainment and work capabilities, as well as retailers with a strong e-commerce footprint. The list includes names like Kellogg and Zoom Video. CNBC Pro subscribers can read more here. – Stevens

The firm’s chief economist Chetan Ahya told investors that a “global recession in 2020 is now our base case.” Morgan Stanley said the coronavirus pandemic is fundamentally disrupting the world’s economy, forecasting the lowest global economic growth “since the global financial crisis.” – Sheetz

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

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