Stocks swung between losses and gains after President Trump announced his intention to propose an economic package to counter the effects of the coronavirus epidemic. Oil rose 8.4%, making up some of the ground lost in Monday’s rout.
The S&P 500 was up 0.9% to 2,769.90 during midday trading.
The Dow Jones Industrial Average rose 1.4% to 24,179.50.
The Nasdaq climbed 1.8% to 8,094.32.
The yield on a 10-year Treasury bond soared 28% to 0.641%.
The price of gold decreased 1.3% to $1,653.50.
The price for a barrel of oil jumped 8.4% to $33.73.
HEALTHCARE
San Clemente-based ophthalmic medical device maker Glaukos Corp. (NYSE: GKOS) rose 11.5% to $39.88 a share for a market cap of $1.7 billion. Glaukos is set to join the S&P SmallCap 600 Index, effective prior to the open of trading March 13, replacing AK Steel Holding Corporation (NYSE: AKS), which is set to be acquired by Cleveland-Cliffs Inc (NYSE: CLF), according to an announcement late Monday.
MANUFACTURING
Kaiser Aluminum Corp. (NASDAQ: KALU) rose 6.3% to $85.51 a share for a market cap of $1.4 billion. TD Asset Management Inc. increased its position in the Foothill Ranch-based metals maker by 18.9% during the fourth quarter, news reports said Monday, quoting a filing with the SEC.
