Stocks in China Slide; U.S. Equity Futures Advance: Markets Wrap
- S&P 500 bounces back from sell-off, gold futures retreat
- American crude slides below $50 a barrel, copper extends rout
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U.S. stocks rebounded from the worst week in six months as investors speculated efforts to contain the coronavirus will minimize lasting damage to the American economy. Commodities remained under pressure, with copper dropping a 14th straight day and oil sliding below $50 a barrel.
The S&P 500 Index advanced as China added stimulus in an effort to shore up its economy and American manufacturing data topped estimates. It’s still down more than 2% since the virus scare started almost two weeks ago, and ended the session well off highs. Tech shares led the advance, while energy and industrial companies slumped.