Skip to Content

Stocks rise sharply on hopes of progress in battling virus

STOCKS on the rise GENERIC

(AP) - Stocks are jumping after some of the world's hardest-hit areas offered sparks of hope that the worst of the coronavirus outbreak may be on the horizon.

U.S. stocks were up roughly 5% in midday trading Monday, and the S&P 500 was on pace to more than erase its loss from the prior week.

European and Asian markets had gains nearly as big.

In another sign that investors are feeling more optimistic about the economy's path, the 10-year Treasury yield was headed for its first gain in four days.

Oil fell after a meeting between big producers about possibly cutting back on production was postponed a few days.

Associated Press

The Associated Press is a U.S.-based not-for-profit news agency headquartered in New York City.

Skip to content