Major U.S. indexes rallied during Monday midday trading after coronavirus concerns sent benchmarks into a tailspin last week.
The S&P 500 recovered 2.9% to 3,038.68; The Dow Jones Industrial Average rose 3.2% to 26,194.27; and the Nasdaq was up 2.9% to 8,811.54.
Crude oil jumped 5.4% to $47.19 a barrel.
The price of gold climbed 2.2% to $1,602 an ounce.
The yield on a 10-year Treasury bond dropped 4% to 1.08%.
HEALTHCARE
Irvine-based Masimo Corp. (Nasdaq: MASI) increased 6% to $173.11 and a $9.3 billion market cap following the medical device maker’s announcement of FDA clearance for its continuous RRp monitoring products, which is said to more accurately monitor the number of breaths taken per minute. The company is Orange County’s second-largest medical device maker by market cap, trailing Edwards Lifesciences.
TECHNOLOGY
Costa Mesa-based Veritone Inc. (Nasdaq: VERI) jumped 7% to $2.87 and a $71 million market cap. The company, which provides businesses with artificial intelligence technologies, announced a new partnership Monday morning with Canada-based Bell Media, in which Veritone will provide the broadcast company with ad intelligence solutions for 40 of its radio and television stations in a dozen markets throughout Canada.
