Tuesday’s Headlines: The Market Rebounds Following Desolate Week 📈
1. After a desolate week, the United States saw its major indices rally on Monday, pushing the value of domestic, and domestically-listed securities higher following a coronavirus-induced sell-off. The Dow rose more than 5%, the S&P 500 4.6%, and the Nasdaq 4.5%. There is still some way to go for the market to fully recover, as the Nasdaq still sits 9% off of its 52-week high, but there is a glimmer of hope for investors. Read the full report here.
2. Shares in Apple rose nearly 10% on Monday, helped by a broad Wall Street rebound and an upgraded rating from an analyst who said the company’s stock had become oversold following last week’s rout related to fears about the new coronavirus. The bounce gave Apple its largest one-day gain since December 2018. Elsewhere, Apple has agreed to pay up to $500 million to settle litigation accusing it of quietly slowing down older iPhones as it launched new models. Get the full story here.
3. Shares in Warren Buffett-backed StoneCo topped fourth-quarter revenue estimates late Monday with revenue of $782.9 million, up 48% year one year. Total payment volume growth accelerated to 51.4% and adjusted net client additions ramped up to 67,300. CEO Thiago Piau was pleased with the report, and stated: “We believe we had a great year, but we are focused on making 2020 and beyond even more special for our clients and as a consequence for our long term shareholders.” Get the full report here.