Stocks Rally on Virus Signs With Earnings in Focus: Markets Wrap

By Rita Nazareth and Vildana Hajric

Stocks climbed on some signs the coronavirus outbreak is either leveling off or easing, with traders assessing the first reports of the cloudy corporate earnings season.

The S&P 500 jumped to a one-month high and the Nasdaq 100 surged more than 3% — with gains in giant technology companies pushing the index through its 50, 100, and 200-day moving averages. Johnson & Johnson surged after posting stronger sales and boosting its quarterly dividend while reining in its outlook for the year ahead. In a very volatile session, JPMorgan Chase & Co. and Wells Fargo & Co. slumped as their profits were hit by major provisions.

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