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The coronavirus has infected more than 6.44 million people around the world as of Wednesday, killing at least 382,451 people.
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 U.S. stocks closed sharply higher and topped some psychological thresholds Wednesday as a pair of reports suggested the worst might be past for the U.S. economy. The Dow Jones Industrial Average jumped about 527 points, 2.1%, to close near 26,270, while the S&P 500 gained 42 points or 1.4%, ending trading at about 3,123. The Nasdaq closed at about 9,683, up 75 points or 0.8%, finishing about 1.4% from its Feb. 19 record closing high at 9.817.18. Meanwhile, the Nasdaq-100 briefly traded above its February peak, before the coronavirus pandemic wracked markets and the economy. The day's action also saw the Dow punch above the symbolic 26,000 threshold. Job losses and service sector activity weren't as bad as feared in May, according to two separate reports, helping bolster investor sentiment. Travel stocks like Carnival Corp. and real-estate concerns like Simon Property Group Inc. rallied as investors snapped up some of the sectors that lost the most value during the lockdowns.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Dow Jones Futures: Dow Catching Up As Coronavirus Stock Market Rally Booms; Smartsheet, Cloudera Dive On Guidance Investor's Business DailyDow rallies more than 500 points, S&P 500 posts longest winning streak since February CNBCS&P 500 opens above 3,100 points, DJIA gains nearly 1% FXStreetPre-Retirees Need To Realize Which S&P 500 They Are Buying ForbesS&P 500 An
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 Stronger appetite for riskier assets is set to lift Asian equities on Thursday, as government stimulus expectations support investor confidence in an economic recovery from the coronavirus.
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 Brazilian labor prosecutors on
Wednesday filed a petition with a local court demanding closure
of a JBS SA pork plant in the southern state of Rio
Grande do Sul due to an outbreak of the novel coronavirus,
according to a copy of the legal request seen by Reuters.
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The U.S. Senate unanimously approved legislation on Wednesday giving small businesses up to 24 weeks to use Paycheck Protection Program loans created during the coronavirus pandemic, up from the current eight-week deadline.
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If another cold war is afoot, the US goes into it with less of the cohesion that primed it for the first
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The latest on stock market and business news during the coronavirus outbreak.
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Amazon.com Inc has
been sued for allegedly fostering the spread of the coronavirus
by mandating unsafe working conditions, causing at least one
employee to contract COVID-19, bring it home, and see her cousin
die.
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Stocks rose on Wednesday as markets continued to rally on optimism over economies emerging from coronavirus-led shutdowns.
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For Hong Kong, Tiananmen Looms Over the Future The New York TimesTrump bans flights from China to U.S. amid tensions over coronavirus, Hong Kong USA TODAYBoris Johnson Pledges to Admit 3 Million From Hong Kong to U.K. The New York TimesAcross all fronts, China is playing for keeps The Boston Globe
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Cloudera Inc. shares pared Wednesday gains in the extended session after the enterprise software company's revenue outlook fell short of the Wall Street consensus. Cloudera shares fell 8% after hours, following a 10% gain in the regular session to close at $12.40. Cloudera said it expects adjusted earnings of 6 cents to 7 cents a share on revenue of $206 million to $209 million for the second quarter, and 26 cents to 30 cents a share on revenue of $825 million to $845 million for the year. Analysts surveyed by FactSet expect earnings of 5 cents a share on revenue of $213.2 million for the second quarter, and 24 cents a share on revenue of $862.3 million for the year. "The business outlook is based on the assumption that the recessionary impact of the coronavirus pandemic (COVID-19) will peak in Cloudera's second and third quarters of fiscal 2021 and moderate in the fourth quarter of our fiscal 2021," the company said in a statement. The company reported a first-quarter loss of $58 million, or 20 cents a share, compared with a loss of $103.1 million, or 38 cents a share, in the year-ago period. Adjusted earnings were 5 cents a share. Revenue rose to $210.5 million from $187.5 million in the year-ago quarter. Analysts had forecast per-share break-even earnings on revenue of $204.9 million. "We executed extremely well in Q1, particularly as the pandemic was in full effect for more than half of our fiscal quarter," said Rob Bearden, Cloudera chief executive, in a statement. "We believe that remote working environments have placed heightened importance on data, data analysis and data security, which has increased the value of data architecture design and the criticality of hybrid cloud solutions."
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Some have joked that the "Freshman 15" is now the "Quarantine 15," as living on lockdown encourages some to snack more on bread and baked goods, and workout less. And denim maker Levi Strauss & Co. is seeing that might be the case.
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Investors clung to optimism for a smooth economic reopening as more coronavirus restrictions started to ease.
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Trump administration to block Chinese passenger airlines from traveling to US The IndependentUS to block Chinese airlines from flying into the US CNNLive Coronavirus Updates The New York TimesTrump administration to bar Chinese passenger carriers from flying to U.S. ReutersUnited States to Bar Chinese Airlines Motley Fool
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