Major stock indexes rose in Tuesday midday trading on expectations Congress will pass legislation related to coronavirus relief; index valuations are still down big from mid-February.
The S&P 500 climbed 8.2% to 2,420.47; the Dow Jones Industrial Average 8.9% to 20,237.24; the Nasdaq 6.6% to 7,317.
The yield on a 10-year Treasury bond rose 16.1% to 0.89%.
The price of gold increased 5.7% to $1,657.
The price for a barrel of oil rose 1.2% to $23.64.
Irvine-based Edwards Life Sciences Corp. (NYSE: EW), Orange County’s largest publicly traded firm, jumped 16% to $182.90 per share, for a market cap of $38.2 billion. The share price is still far below the $235.31 close on Feb. 19, shortly before coronavirus selling devastated markets.
BJ’s Restaurants Inc. (NASDAQ: BJRI) soared 35% to $12.95 per share for a market cap of $247 million. The company on Monday announced a range of actions to deal with restaurant closures caused by the coronavirus, including deferring or suspending dividends and delaying restaurant openings.