Stock market live updates: Stocks set to rise again, Nasdaq futures hit limit up, Microsoft gains

Many battered travel companies were rebounding sharply in premarket trading Friday. United Airlines and American Airlines climbed 12% and 6%, respectively, after tanking 65% and 45% in March alone due to diminished demand for travel amid the coronavirus outbreak. Casinos MGM Resorts and Wynn Resorts rose 13% and 10%, respectively in premarket trading, while Marriott and Hilton also traded up more than 5% each. Many of these casinos and hotels were forced to shut down amid the pandemic. The travel and tourism industry is seeking $150 billion in financial aid, with the U.S. airline industry asking government aid of more than $50 billion. — Li

  1. If the S&P closes positive today it would be its first 2 consecutive days of gains in more than a month, back to Feb 12 and its 3-day win streak
  2. If the Dow closes positive today it would be its first 2 consecutive days of gains in more than a month, back to Feb 6and its 4-day win streak
  3. If the Nasdaq closes positive today it would be its first 2 consecutive days of gains in a month, back to Feb 19 and its 3-day win streak
  4. The Russell 2,000 closes positive today it would be its first 2 consecutive days of gains in a month, back to Feb 20and its 2-day win streak — Francolla, Fitzgerald 

Republican Senators Richard Burr of North Carolina and Kelly Loeffler of Georgia are facing questions over their decision to sell large equity holdings before global markets began a historic plunge thanks to the spread of the novel coronavirus. Burr, chairman of the Senate Intelligence Committee, sold somewhere between $630,000 and $1.7 million worth of stock while Loeffler disclosed a string of sales that began on Jan. 24, the same day her committee hosted a private briefing about the virus.

In the three weeks after Jan. 24, Loeffler and her husband, Jeffrey Sprecher, sold shares worth between $1.25 million and $3.1 million, according to government records. Sprecher is chairman of the New York Stock Exchange and chairman and CEO of its holding company International Exchange. — Franck, Wilkie

The global death toll from the coronavirus pandemic has risen above 10,000, according to data from Johns Hopkins University. On Thursday, Italy overtook China to be the world’s deadliest hot spot with 3,405 deaths registered. Meanwhile, California Gov. Gavin Newsom on Thursday issued a statewide order for all residents to “stay at home” amid a coronavirus outbreak. The stay home order is in place till further notice. — Li

Oil extended gains on Friday, one day after surging more than 23% in its best day on record. U.S. West Texas Intermediate crude jumped 4.6% to $26.39 per barrel, while international benchmark Brent crude gained 3.4%. Traders are hoping that stimulus measures announced worldwide will help curb the economic slowdown caused by the coronavirus. Recent gains notwithstanding, WTI is still on track for its worst month on record. —Stevens

Source: https://www.cnbc.com/2020/03/20/stock-market-live-today.html

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