Stocks Ended Higher, Rebounding from Coronavirus Fears

U.S. stocks ended sharply higher on Tuesday, staged a powerful rebound to mark a second straight positive session. The Dow Jones Industrial Average rose 407.82 points, or 1.44%, to 28,807.63. The S&P 500 added 48.67 points, or 1.50%, to 3,297.59. The Nasdaq Composite gained 194.57 points, or 2.10%, to 9,467.97.

Oil futures gave up earlier gains to finish with a loss on Tuesday. West Texas Intermediate crude for March delivery lost 50 cents, or 1%, to settle at $49.61 a barrel. April Brent crude fell 49 cents, or 0.9%, to $53.96 a barrel.

Walt Disney Co. said Tuesday that 26.5 million people subscribed to its Disney+ streaming service in the first quarter of availability. The company provided the update as part of its fiscal first-quarter earnings report, which showed profit of $2.13 billion, or $1.17 a share, on sales of $20.86 billion.

Snap Inc. reported fourth-quarter earnings fell short of Wall Street estimates. The social-media company said it lost $240.7 million, or 17 cents per share. The company did offer an encouraging sales forecast of $450 million to $470 million.

Ford Motor Co. missed adjusted profit expectations and posted a GAAP loss. It lost $1.7 billion, or 42 cents a share, in the fourth quarter, compared with a loss of $100 million, or 3 cents a share, in the year-ago period.