Comeback continues | Amazon back to all-time high | How bad will the economic numbers get?
EDITOR'S NOTE
We don't know when the market will fully recover, but we do know that several stocks have more than recovered already.
CNBC's Yun Li writes that 28 companies in the S&P 500 had posted gains since Feb. 19 when the index was at its peak.
Biotech, consumer staples and stay-at-home stocks dominate the list. Stocks rose sharply on Tuesday as investors pondered more news that the coronavirus pandemic was nearing its peak. But the economic news remains grim. The International Monetary Fund predicted the worst recession since the 1930s and Goldman Sachs said the downturn will be four times worse than the housing crisis of 2008.
The nation's biggest banks are bracing themselves. JPMorgan and Wells Fargo both reported earnings declines on Tuesday and set aside billions of dollars for credit reserves, anticipating out-of-work customers will stop paying their credit card bills.
"The company entered this crisis in a position of strength, and we remain well capitalized and highly liquid," JPMorgan CEO Jamie Dimon said. "We will do everything in our power to help the world recover from this global crisis."
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