Stocks add to last week's rally | $20 oil | Can J&J find a cure?

Stocks found an updraft on Monday after President Donald Trump extended social distancing guidelines.

VIEW IN BROWSER | SUBSCRIBE MON, MAR 30, 2020 EVENING BRIEF AS OF MON, MAR 30, 2020 • 04:29 ET DJIA 22327.48 +3.19% +690.70 S&P 500 2626.65 +3.35% +85.18 NASDAQ 7774.15 +3.62% +271.77   Most Active DOW NAME LAST CHG %CHG MSFT 160.23 +10.53 +7.03% BA 152.28 -9.72 -6.00% XOM 37.50 +0.55 +1.49% S&P 500 NAME LAST CHG %CHG F 5.03 -0.16 -3.08% GE 7.89 +0.27 +3.54% BAC 22.04 +0.44 +2.04% NASDAQ NAME LAST CHG %CHG AMD 47.86 +1.28 +2.75% MSFT 160.23 +10.53 +7.03% AAL 12.25 -1.79 -12.75% EDITOR'S NOTE Stocks finished the day sharply higher after President Donald Trump extended social distancing guidelines until April 30.   Even though it was an admission that the U.S. economy would have to stay closed longer, it was in line with science and data. Investors had been worried that Trump might be pressured to open the economy too early, risking a larger spread of the COVID-19 virus, CNBC's Patti Domm writes.   Strategists continue to debate whether the stock market hit its bottom last week. Oil prices, for one, continue to be a drag on the market, barely holding $20 a barrel on Monday.   Pandemic news also continues to worsen, as do its effects on the economy. CNBC's Jeff Cox writes that the Federal Reserve's St. Louis district is projecting the nation's unemployment rate to exceed 32% before this is all over. By comparison, the rate hit 24.9% during the Great Depression.   In an interview with CNBC last week, St. Louis Fed President James Bullard held out hope that this grim reality will be short-lived.   "Once the virus goes away, and if we play our cards right and keep everything intact, then everyone will go back to work and everything will be fine," he said.   Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. Al Lewis | CNBC Markets Editor @tellittoal TOP NEWS  Stocks continue their rebound from coronavirus plunge, Dow jumps 3% Stocks got two positives Monday - drug industry breakthroughs and a more realistic government approach Coronavirus job losses could total 47 million, unemployment rate may hit 32%, Fed estimates Oil drops more than 6% to 18-year low as global demand evaporates Ted Cruz, other senators, warn Saudis to stop using oil in 'economic warfare' against the US Track the latest coronavirus news here Johnson & Johnson says human testing of its coronavirus vaccine to begin by September Macy's will start furloughing most employees this week as it copes with significant sales losses GM making progress on building ventilators, masks as Trump praises automaker's coronavirus efforts Richard Branson's rocket company Virgin Orbit to begin mass producing ventilators     TOP VIDEO Johnson & Johnson CEO on how close company is to coronavirus vaccine   CNBC PRO A bunch of Bank of America's time-tested 'contrarian buy signals' are flashing to go long now   SPECIAL REPORTS 'Let Apple go,' strategist says – buy these stocks instead 'The damage has already been done' in bank stocks, trader says. Here's the one he'd buy   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS