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Stocks rebounded investors wrapped up a period of historic market volatility sparked by the coronavirus pandemic.
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 The number of cases of COVID-19 rose above 800,000 on Tuesday, according to aggregated data from Johns Hopkins Whiting School of Engineering's Centers for Systems Science and Engineering. There are now 809,608 cases globally and at least 39,545 people have died, the data showed. About 172,689 people have recovered from the novel coronavirus that has sickened people in 179 countries. The U.S has the most number of cases worldwide, at 165,874, and at least 3,178 deaths. Italy has the second highest number of cases at 101,739 and at least 11,591 deaths. Spain takes third place with 94,417 cases and at least 8,269 deaths. China, where the virus was first detected in December, has 82,278 cases and 3,309 deaths. Germany has 68,180 cases and 682 deaths; France has 45,232 cases and at least 3,032 deaths. Iran has 44,605 cases and at least 2,898 deaths.
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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 U.S. stocks trade lower Tuesday afternoon after economic data including a survey of the Chinese manufacturing sector came in above expectations, though concerns remained over the coronavirus epidemic during the final trading session of the first quarter.
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 Global stock markets edged
higher on Tuesday as investors assessed the economic damage from
the coronavirus pandemic, while the MSCI benchmark of world
equities was on pace to finish its worst quarter since the
financial crisis of 2008.
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Dow Jones Up 23% From March 23 Low, Edges Toward This Key Technical Level Even As Coronavirus Cases Spike; 3 Growth Stocks Give A Bullish Signal Investor's Business DailyLive Market Watch: Dow reacts to US coronavirus efforts | 3/27/2020 Fox BusinessS&P 500 set for worst first quarter since 1938 ReutersWall Street rallies, led by healthcare jump CGTN
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Guess Inc. said Tuesday that it will furlough all of its store associates in the U.S. and Canada starting April 2. The clothing and accessories company will also furlough half of its corporate workers in the U.S. and Canada, and most of the staff in its distribution centers. The company will pay health insurance benefits for furloughed corporate and distribution center employees. The company has 15,700 employees, according to FactSet, with business spanning across the Americas, Asia and Europe. Guess is also instituting pay reductions for all management at the senior level, ranging from 15% to 70% for Chief Executive Carlos Alberini and Chief Creative Officer Paul Marciano. Guess has drawn down $212 million from certain credit facilities and will postpone declaration of a quarterly dividend. Guess stock jumped 5.3% in Tuesday trading, but is down 68% for the year to date. The S&P 500 index has slumped 19.5% for 2020 so far.
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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Corn futures may settle Tuesday at their lowest since 2016 after the U.S. Department of Agriculture estimated U.S. corn planted area for 2020 at 97 million acres, up 8% from last year. The market was looking for smaller planted acreage, with average estimates at 94.328 million acres, according to Daniels Trading. A separate USDA report revealed that total U.S. corn stocks stood at 7.95 billion bushels on March 1, down 8% from the same date a year earlier. The corn stocks figure was lower than an average estimate of 8.125 billion bushels, according to Daniels Trading. The most-active May corn contract extended earlier losses, trading down 6 3/4 cents, or 2%, to $3.34 1/2 a bushel in Chicago. A settlement below $3.35 would be the lowest since September 2016, according to Dow Jones Market Data.
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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 Stocks fell Tuesday morning, reversing some gains after a regular-session rally sent the Dow higher by 690 points, or 3.2%.
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Urban Outfitters Inc. said Tuesday that it will furlough a "substantial" number of employees at the stores, wholesale and home office channels for 60 days, starting April 1. Urban Outfitters, which has a portfolio that includes the namesake brand, Free People and Anthropologie, shuttered stores on March 14. Stores will remain closed until further notice, though e-commerce operations will continue. The company will continue to pay for enrolled employee benefits. Urban Outfitters is taking other cost-cutting measures, including eliminating bonuses and reducing senior management pay, borrowing another $220 million from cash reserves, reducing the capital budget by $100 million and reducing investments in things like the Nuuly brand. The company will also suspend rent payment and extend payment for merchandise. Urban Outfitters says this is the first time in the company's 50-year history that it has furloughed employees. The company's stock is down 50.5% over the past year while the S&P 500 index has fallen 7% for the period.
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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The Federal Reserve on Tuesday said it was establishing a temporary repo facility for foreign central banks that will help make U.S. dollars available in their jurisdictions. In the new facility, the central banks will be able to temporarily exchange their U.S. Treasurys held at the Fed for U.S. dollars. "This facility should help support the smooth functioning of the U.S. Treasury market by providing an alternative temporary source of U.S. dollars other than sales of securities in the open market," the Fed said. It should also ease strains in global U.S. dollar funding markets, the central bank said. All central banks and foreign monetary authorities with accounts at the Fed are eligible.
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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