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 Boris Schlossberg of BK Asset Management says there are MUCH better choices than Apple in this climate.
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 Mexico's peso led Latin American
currencies lower on Monday as a strong dollar and sinking oil
prices weighed, with further pain seeming apparent as the
coronavirus outbreak rattled the global economy.
Regio
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 U.S. stock indexes ended sharply higher Monday, with the main benchmarks booking gains of at least 3% as investors appeared to take comfort from a more sober tone from the White House about the coronavirus epidemic. The Dow Jones Industrial Average closed up about 688 points, or 3.2%, settling at about 22,325, while the S&P 500 added about 85 points, 3.35%, to close near 2,626. The Nasdaq Composite index closed near 7,774, up about 272 points or 3.6%. Shares of Microsoft Inc. popped more than 7% as analysts say the company is well-positioned as Americans continue to work from home.
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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Gap Inc. , which owns the Gap, Banana Republic and Old Navy retail chains, and Ascena Retail Group Inc. , which operates Ann Taylor and other stores, announced plans Monday to furlough employees amid the spread of COVID-19. Gap announced that it would "furlough the majority of its store teams in the United States and Canada, pausing pay but continuing to offer applicable benefits until stores are able to reopen," along with laying off corporate workers and cutting executive salaries. Gap previously announced that stores would be closed till April 1, but extended that indefinitely Monday. "After taking the extraordinary measures of temporarily closing all of our company-owned stores in North America and Europe two weeks ago, we are now in a position where we must take deeper actions, new Gap Chief Executive Sonia Syngal said in Monday's announcement. "Each decision, however difficult, has been made to ensure that we build toward a future where Gap Inc. can come out of this stronger -- for our customers, our shareholders and, most importantly, our teams." Gap had 129,000 employees as of the end of January, according to regulatory filings. Ascena, which closed down its Dressbarn chain late last year amid struggles, said it would furlough all of its retail employees and half its corporate staff, and cut executive salaries in half. Distribution centers will remain open and operate at limited capacity, the company announced. Ascena had 53,000 employees as of Aug. 3, 2019.
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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