Stock market news live updates: Wall Street ends mixed as coronavirus fears pour cold water on rally

Stocks ended Friday's session on a mixed note as rising coronavirus cases in major US states temporarily outweighed the optimism about a rapid economic recovery that triggered an early rally.
Investors were unsettled by the news that Apple (AAPL) would temporarily close stores in U.S. states where COVID-19 cases have increased significantly in the past few weeks, undermining the market's optimism of a rapid recovery. The company emailed the move to Yahoo Finance that the company will be closing its retail stores with caution as of June 20.
Some states undergoing reopening are currently struggling with resurgence in coronavirus cases. The gradual easing of orders for staying at home has distracted from the still raging COVID-19 crisis, which is reflected in the economic data and limits the market.
The number of new coronavirus cases in Florida rose by a daily record on Friday, and hospitalizations in Texas have also increased the most since the pandemic began. Other states in the sun belt are also at their peak as regions have struggled to keep infection rates low as public life begins again.
Meanwhile, investors were also watching developments in trade and relations with China. Bloomberg reported that China plans to accelerate imports of agricultural purchases such as soybean, corn, and ethanol. The report noted that the decision was made this week after talks between US and Chinese negotiators in Hawaii, citing nameless people familiar with the matter.
Friday was also the quarterly occurrence of four hexes, where the expiry date for stock index futures and options and for individual stock futures and options takes place simultaneously. On Friday there were also rebalances for S&P indices and exchange-traded SPDR funds.
The still rising unemployment claims reflect a job market that was badly damaged by the outbreak. Unemployment is more than twice as high as during the Great Recession and signals a slower recovery than expected, even as housing orders wane.
"Figures suggest that the reopening story may not create as much momentum for job creation as the surprising number of pay slips in May suggested," said James Knightley, chief economist for ING in a note.
"While recent activity data, particularly in the consumer sector, has been very encouraging, we are far from returning to" normalcy, "added Knightley.
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4:02 p.m. ET: Shares end whip session mixed
We can't get a real rating right now: Strategist
Rich Steinberg, Colony Group's chief market strategist, joins Yahoo Finance's On The Move panel to discuss how markets are dealing with Trump's threats to cut ties with Beijing.
Here the markets settled at the end of regular trading on Friday:
S&P 500 (^ GSPC): 3,097.95, -17.39 points (-0.56%)
Dow (^ DJI): 25,872.56, -207.54 points (-0.8%)
Nasdaq (^ IXIC): 9,946.12, +3.07 points (+ 0.03%)
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2:13 p.m. ET: stocks give way, Dow loses 276 points or more than 1%
Here were the main moves in the markets from 2:14 p.m. ET:
S&P 500 (^ GSPC): 3,087.68, -27.66 points (-0.89%)
Dow (^ DJI): 25,803.73, -276.37 points (-1.06%)
Nasdaq (^ IXIC): 9,888.1, -56.04 points (-0.57%)
Crude Oil (CL = F): $ 39.78, + $ 0.94 (+ 2.42%)
Gold (GC = F): $ 1,753.20, + $ 22.31 (+ 1.28%)
10-year Treasury (^ TNX): +0.1 basis points for a return of 0.695%
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2:13 p.m. ET: stocks give way, Dow loses 276 points or more than 1%
Here were the main moves in the markets from 2:14 p.m. ET:
S&P 500 (^ GSPC): 3,087.68, -27.66 points (-0.89%)
Dow (^ DJI): 25,803.73, -276.37 points (-1.06%)
Nasdaq (^ IXIC): 9,888.1, -56.04 points (-0.57%)
Crude Oil (CL = F): $ 39.78, + $ 0.94 (+ 2.42%)
Gold (GC = F): $ 1,753.20, + $ 22.31 (+ 1.28%)
10-year Treasury (^ TNX): +0.1 basis points for a return of 0.695%
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12:30 pm. ET: stocks lose momentum; Apple will close some US stores
We can't get a real rating right now: Strategist
Rich Steinberg, Colony Group's chief market strategist, joins Yahoo Finance's On The Move panel to discuss how markets are dealing with Trump's threats to cut ties with Beijing.
News that Apple is closing retail locations at new COVID-19 hotspots in Florida, Arizona, and the Carolinas was depressing afternoon market momentum, and the Dow gave up three-digit gains on the opening bell. A worrying surge in coronavirus diagnoses in these countries has raised fears of a dreaded “second wave” as the total number of US populations begins to stabilize.
Here were the main moves in the markets from 12:40 p.m. ET:
S&P 500 (^ GSPC): 3,100.09, -15.25 (-0.49%)
Dow (^ DJI): 25,923.26, -156.84 (-0.60%)
Nasdaq (^ IXIC): 9,917.03, -26.02 (-0.26%)
Crude Oil (CL = F): $ 38.72, $ -0.12 (-0.31%)
Gold (GC = F): $ 1,751.40, + $ 20.30 (+ 1.17%)
10-year Treasury (^ TNX): +3.3 basis points for a return of 0.727%
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11:09 a.m.ET: stocks have some gains
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The three main indices were positive, but peaked at the session. The health and energy sector saw growth in the S&P 500, with crude oil exceeding $ 40 a barrel. Walgreens and Dow Inc. led gains on the 30-share Dow.
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9:36 am ET: stocks open higher, Dow collects more than 300 points
The markets open higher to end the rocky week
Alexis Christoforous and Brian Sozzi from Yahoo Finance discuss today's market action with Amanda Agati, PNC's chief investment strategist.
Here were the main moves in the markets from 9:37 a.m.CET:
S&P 500 (^ GSPC): +35.81 points (+ 1.15%) to 3,151.15
Dow (^ DJI): +327.69 points (+ 1.26%) to 26,407.79
Nasdaq (^ IXIC): +84.45 points (+ 0.85%) on 10.025
Crude Oil (CL = F): + $ 1.41 (+ 3.63%) to $ 40.25 a barrel
Gold (GC = F): + $ 12.60 (+ 0.73%) to $ 1,743.70 per ounce
10-year Treasury (^ TNX): +3.3 basis points for a return of 0.727%
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7:22 am ET Friday: Shares point to higher open positions
The markets are shrinking as unemployment claims and COVID 19 cases increase
Yahoo Finance's Alexis Christoforous and Brian Sozzi collapse today's market action with Tom Essaye, founder of The Sevens Report Research.
Here were the key steps at the start of the US equity futures overnight session from 6:01 p.m. ET:
S&P 500 futures (ES = F): 3,135.00, plus 26 points or 0.84%
Dow futures (YM = F): 26,246.00, plus 222 points or 0.85%
Nasdaq futures (NQ = F): 10,081.25 plus 85.5 points or 0.86%
Crude Oil (CL = F): + $ 0.96 (+ 2.47%) to $ 39.80 per barrel
Gold (GC = F): + $ 8.40 (+ 0.49%) to $ 1,739.50 an ounce
10-year Treasury (^ TNX): +2.3 basis points for a return of 0.717%
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6:01 p.m. ET Thursday: Stock futures open higher
Here were the key steps at the start of the US equity futures overnight session from 6:01 p.m. ET:
S&P 500 futures (ES = F): 3,113.25, plus 4.25 points or 0.14%
Dow futures (YM = F): 26,045, plus 21 points or 0.08%
Nasdaq futures (NQ = F): 10,007.75, plus 12 points or 0.12%
NEW YORK, NEW YORK - MARCH 20: Traders, some in medical masks, work on the floor of the New York Stock Exchange (NYSE) on March 20, 2020 in New York City. Trading on the floor will temporarily become fully electronic from Monday to protect employees from the spread of the corona virus. The Dow fell over 500 points on Friday as investors remain concerned about COVID-19. (Photo by Spencer Platt / Getty Images)
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