Back in the saddle! And Tesla's off to the races

MON, FEB 03, 2020

YOUR AFTERNOON NEWS UPDATE AND MARKET ACTION FROM CNBC

AS OF MON, FEB 03, 2020 • 12:07 ET

DJIA		28437.11
		+0.64%	+181.08

S&P 500		3249.80
		+0.75%	+24.28

NASDAQ		9263.01
		+1.22%	+112.08

EDITOR'S NOTE

Have you seen Tesla today?? The stock is up another 10%--and just crossed the $700 mark for the first time. That's a 60% gain for the year--and it's Feb 3. Tesla is now worth more than all the "big three" automakers (GM, Ford, and Fiat Chrysler)--combined.

We'll have more on that on the show(s) today, plus the latest on coronavirus and its macro impact. Dave Zervos will be joining me on set with his latest musings, and John Rutledge actually has a couple of Chinese stock picks he'll explain as well.

And did you see the ISM manufacturing number this morning? Not too shabby! The survey jumped three points to a 50.9 reading, the best since July and back above the 50 level that indicates overall expansion in the sector. Especially after the terrible Chicago PMI number the other day, that's a bit of a relief.

All that's helping the market rebound from Friday's steep slide; the Dow's up about 300 points but there's still plenty of time before the close. I'll see you at 1 p.m.--yay!--with the very latest.

Kelly

P.S. The Exchange is now a podcast! Click to subscribe.

Kelly Evans
Twitter: @KellyCNBC

Instagram: @realkellyevans

KEY STORIES

Coronavirus live updates: China accuses US of spreading fear, Saudis reportedly weigh oil cuts

China's National Health Commission confirmed more than 17,200 cases of the coronavirus in the country and 361 deaths.

If Bernie Sanders wins Iowa Monday and gains momentum, that would spook the stock market

Market volatility could pick up if Bernie Sanders wins the Iowa caucus and then moves on to win other primary races.

Coronavirus is going to 'paralyze China' — El-Erian warns against buying dips

"It is big. It's going to paralyze China. It's going to cascade throughout the global economy," said the Allianz chief economic advisor.

Mayo Clinic doctor: Coronavirus is 'basically at a pandemic now' and should be treated as such

"We don't have any immunity to this, and that's why you tend to see somewhat more severe disease," said Dr. Gregory Poland, director of Mayo Clinic's Vaccine Research Group.

David Tepper says coronavirus 'may be a game changer' for market

David Tepper told Jim Cramer that investors should be cautious as fears rise about the coronavirus outbreak.

Tesla stock soars, hitting $700 per share for the first time after bullish call from Argus Research

Argus Research raised its price target to $808 from $556.

How to stop police from asking for videos from your Amazon Ring doorbell

Amazon recently updated the Ring doorbell app with an option that lets you stop police departments from requesting video from your doorbell. Here's how to use it.

Bitcoin logs best January performance in 7 years as value surges by nearly $40 billion

Experts said that bitcoin was being viewed as a "safe-haven asset" as global equity markets remain shaky following the outbreak of the novel coronavirus from China.