Stocks rise sharply on hopes of progress in battling virus

By STAN CHOE AP Business Writer
NEW YORK (AP) — Stocks are jumping after some of the world's hardest-hit areas offered sparks of hope that the worst of the coronavirus outbreak may be on the horizon. U.S. stocks climbed 4.5% in Monday morning trading, and the Dow was flirting with a rise of 1,000 points, following up on gains nearly as big  in Europe and Asia. In another sign that investors are feeling more optimistic about the economy's path, the yield on the 10-year Treasury was headed for its first gain in four days. Oil fell after a meeting between Russia and OPEC aimed at defusing a price war was pushed back a few days.