The Dow Jones Industrial Average closed 911.95 points higher, or 3.9%, at 24,597.37. The S&P 500 gained 3.2% to close at 2,953.91 while the Nasdaq Composite advanced 2.4% to 9,234.83. The Dow and S&P 500 both had their biggest one-day gains since April 6 while the Nasdaq posted its best rally since April 29. The S&P 500 also closed at its highest level since March 6.
Read MoreTesla is eyeing Austin, Texas, and Tulsa, Oklahoma, as two potential homes for its next production facility.
Both cities are attractive to Tesla because they’re centrally located in the U.S., making it easier to deliver to the East Coast.
China’s foreign ministry said on Saturday the United States needed to stop the “unreasonable suppression” of Chinese companies like Huawei.
Read MoreHouse Democrats pass a $3 trillion coronavirus relief package.
Republicans have opposed the bill, so it has little chance of becoming law.
It includes relief for state and local governments, more direct payments, hazard pay for essential workers, an extension of the federal unemployment benefit and money for testing, among other provisions.
Simon Property Group says it plans to have roughly 50% of its malls and outlet centers reopened again within the next week, as states begin to loosen their lockdown restrictions during the coronavirus pandemic.
“We are now leading the effort for these local economies to get back to business,” Chief Executive David Simon tells analysts.
Simon’s quarterly profits fell 20.2% during the first quarter ended March 31.
Corporate debt issuance continues at a record pace with another $25.7 billion in investment grade bonds hitting the market Monday, on top of nearly $100 billion last week.
Market pros said the market is open for business, and the failure of United Airlines to issue high yield debt had more to do with the individual issue and possibly price than the market overall.
The Fed has said it would begin buying corporate debt by early May, and now that early May is almost over investors are looking for more Fed guidance on the program that helped spark the surge in debt offerings.
Unlike its Scandinavian neighbors in Norway, Denmark and Finland, Sweden resisted a lockdown.
As of Thursday, Sweden has 23,918 confirmed cases of the virus and has recorded 2,941 deaths, with over half the deaths occurring in elderly care homes.
Tegnell said that the number of admissions to Sweden’s hospitals is “clearly falling,” as well as the number of deaths.
A record number of Americans just lost their job, and yet stocks are moving higher. This seems paradoxical given the economic toll — to say nothing of the emotional toll — on millions of people across the country without a job. While some say this is further indication that the stock market has become decoupled from reality, others say there are clear reasons why stocks have rebounded, and can continue to move higher.
Read MoreThe numbers: Builders started construction on new homes in the U.S. at a pace of 1.22 million in March, the Commerce Department said Thursday. This represented a 22% decrease from a revised 1.56 million in February, but was 1.4% higher than a year ago.
It’s the biggest decline since March 1984.
Read MoreVirgin Galactic reported first quarter results with an adjusted EBITDA loss of $53 million, just below last quarter’s $55 million loss.
The company said it logged more than 400 customer deposits in the past quarter, representing over $100 million in future business.
“The COVID-19 outbreak led to an unprecedented situation for companies and individuals across the world, but I am encouraged by the commitment displayed by our team in helping to support relief efforts while making program progress,” Virgin Galactic CEO George Whitesides said.
Rising tensions between the U.S. and China — made worse by the coronavirus pandemic — is the start of a new Cold War, former top White House trade negotiator Clete Willems told CNBC.
Among the latest disputes between Washington and Beijing is the origin of the coronavirus, which has infected more than 3 million people and killed over 250,000 globally, according to Johns Hopkins University data.
In the U.S., critics allege Beijing wasn’t upfront about the dangers of the virus, was too slow to respond and under-reported the extent of the outbreak within its borders.
China has rejected many of those claims and at times appeared to attempt to turn the tables around by alleging that the U.S. military might have brought the virus to Wuhan.
Home prices will fall 2-3% this year, according to Zillow
As a comparison, home prices dropped just more than 27% nationally during the Great Recession, from their peak in 2006 to the trough in 2012, according to the S&P Case-Shiller Indices.
Zillow predicts a very fast 50-60% decline in home sales, which would bottom by the end of the spring and recover at a pace of about 10% each month through 2021.
Warren Buffett’s Berkshire Hathaway has sold all its airline stocks, but retail investors at TD Ameritrade were buying them in April.
“I think people are buying these and saying, ’OK, this has to be a longer-time-frame investment,” chief market strategist JJ Kinahan said Monday on CNBC’s “Closing Bell.”
“I don’t think you’re buying these thinking that that business is coming back immediately,” he added.
Surveillance-tech companies have flourished in recent years as law enforcement and spy agencies around the world have sought new methods for countering adversaries who now often communicate through encrypted mobile apps.
The firms argue that their experience helping governments track shadowy networks of militants makes them uniquely qualified to uncover the silent spread of Covid-19.
Yet some technologists remain skeptical that spying tools reliant on phone location data can be used to effectively combat a virus.
Funding into U.K. start-ups between March 23 and April 27 is 34% higher than it was over the same period last year.
Investors are pumping more capital into their portfolio companies to ensure they have enough to see out the economic downturn.
However, the total number of deals fell and many start-ups are struggling.
Famines of “biblical proportions” are becoming a serious risk as the coronavirus crisis threatens to double the number of people nearing starvation, a U.N. body has warned.
In projections released Tuesday, the UN’s World Food Programme (WFP) predicted that the number of people facing “acute food insecurity” stood to rise to 265 million by the end of this year, up from 135 million in 2019.
Read MoreThe Labor Department reported that the number of Americans applying for state unemployment benefits totaled 4.427 million last week.
Combined with the prior four jobless claims reports, the number of Americans who have filed for unemployment over the last five weeks is 26.45 million.
That number far exceeds the 22.442 million jobs added to payrolls since November 2009, when the U.S. economy began to add jobs back after the recession.
Republican Sen. Josh Hawley of Missouri asked the CEOs of Apple and Google to hold themselves personally liable for protecting the data collected through their contact tracing efforts related to the coronavirus.
The firms have teamed up to release tools for apps that would notify users if they come into contact with someone diagnosed with Covid-19.
Hawley said he was concerned that even anonymized data could be “reidentified” and used as a surveillance mechanism.
Hundreds of phishing emails landed in people’s inboxes inviting them to click on a link that takes them to what looks like an HMRC furlough claim website.
“This is a scam,” an HMRC spokesperson told CNBC. “The website associated with the scam is in the process of being taken down.
HMRC, which collects taxes and issues state support, said it has identified 54 coronavirus-related financial scams to date.
Adyen posted first-quarter revenue of 135.5 million euros, an increase of 34% from a year earlier.
Shares of the firm rose 9% Tuesday, making it the best performer of the Stoxx 600 index.
CFO Ingo Uytdehaage said the company has seen a “huge pickup” in online retail volume.
