Stock market live updates: All that’s moving markets including IBM, Tesla and Coronavirus

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The 10-year Treasury yield has been resting at 1.76%, after dropping to that level as the world worried about the new Chinese coronavirus Tuesday. Risk markets are rallying, and yields are higher Wednesday, but the 10-year still hovers near Tuesday’s lows, a key level on the charts. “That 1.76 level has provided support at a few different moments in January. It also corresponds to the bottom of an opening gap, back to some of the volatility around the Iranian tensions,” said Jon Hill of BMO. “But the intraday low of Jan. 8 was 1.70. That to me is the defacto range bound.” He said it’s now testing resistance for further rallies in duration. Yields move lower when bond prices rise. Treasurys were expected to trade quietly this week due to the light data calendar, lack of new supply, and dearth of Fed speak ahead of next week’s FOMC meeting. — Domm

CNBC’s Eunice Yoon reported Chinese state TV confirmed the coronavirus has killed 17 people with confirmed cases climbing to 444 in total. The virus stemmed from Wuhan, China, less than a week before Lunar New Year, when millions of Chinese travel at home and abroad. Related stocks were still higher, however. Wynn Resorts was up 0.4% and United Airlines added 0.6%. —Li

Bank of America said its retail clients were net buyers of stocks last week after an eight-week selling streak. The S&P 500 gained 2% in the week ending Jan. 17, hitting new records. The buying was largely driven by inflows into exchange-traded funds, the bank noted. Meanwhile, buybacks by Bank of America’s corporate clients picked up as earnings season kicked off and the amount has been consistent with the historical trends, the bank said. Its hedge funds and institutional clients, however, continued to sell for four and three weeks, respectively. — Li

The S&P 500 added about 0.3% and touched a new intraday record. The Nasdaq Composite also hit a record. Shares of Tesla jumped 4%. IBM added more than 3% and was the biggest gainer in the S&P 500. Netflix, meanwhile, was lower, falling almost 2%. -Melloy

Shares of Tesla rose about 5% in premarket trading. If the gains hold, the company’s market value would climb to more than $103 billion at the open of trading. That’s a closely watched level for the electric automaker’s stock, as CEO Elon Musk would land the first of a possibly massive payout if Tesla can stay above $100 billion in value on both a 30-day and six-month trailing average. -Sheetz

The fallout from Boeing’s 737 Max keeps getting worse. On Tuesday the company said it doesn’t expect regulators to sign off on the jet until June or July, which is later than some, including Vertical Research’s Robert Stallard, were predicting. On Wednesday Stallard downgraded the stock to a hold and lowered his target to $294, saying the “ramifications” of the grounded jet have “yet to reverberate.” He slashed his estimates for 2019-2022, and said the company will likely halt buybacks until 2022. With shares of Boeing down nearly 17% in the last six months, Stallard acknowledged that the call is belated. -Stevens

The firm’s internet analyst Ross Sandler said he expects “management teams to sound upbeat” when technology companies reporting fourth quarter results soon. Sandler noted continuing strength of Alphabet and Amazon, saying to buy any weakness in the stocks as “large caps likely see growth accelerate in 1Q20.” The Barclays analyst also called out its three best picks for investors looking to buy before tech earnings: Snap, Facebook and Uber. – Sheetz

Wedbush analyst Dan Ives raised his price target on shares of Tesla to $550 from $370, saying “we believe Musk & Co. will not disappoint” when the electric automaker reports earnings on Jan. 29. Ives’ note was incrementally more optimistic about Tesla’s outlook in China, as he updated the potential for those operations to “at least $100” a share from “$75 to $100” two weeks ago. Wedbush has a neutral rating on Tesla. -Sheetz

Travel and hotel stocks rebounded on Wednesday, after falling Tuesday on fears that the coronavirus outbreak in China would dent international travel. Shares of casino and hotel companies Wynn Resorts and Las Vegas Sands gained nearly 1% each, after falling 6% and 5%, respectively on Tuesday. United Airlines jumped nearly 1%, American Airlines rose more than 1% and Delta Air and Southwest all gained slightly in premarket trading. -Fitzgerald

Wall Street may be using the earnings season to take profits off the table after the market’s stunning run to record highs this past one year. Data compiled by Bespoke Investment Group shows stocks have opened higher by an average of 0.62% after a company reports quarterly earnings. However, those stocks decline by an average of 0.56% into market close.”We’re seeing investors use earnings as a reason to lighten up a bit,” Bespoke said in a tweet.—Imbert

Netflix was the first of the so-called FANG stocks to report fourth-quarter results. The streaming giant beat on the top and bottom line, but gave disappointing guidance and posted a miss on domestic subscriber growth. Wall Street analysts largely looked past the weakness and believe Netflix is on the right track to profitability. Goldman Sachs said the company’s content investments, distribution partnerships and global positioning should drive subscriber growth “significantly above consensus expectations.” Bank of America expects Netflix to be “increasingly dominant overseas” in the next year. Credit Suisse said the set-up is “quite favorable for Netflix heading into 2020,” and the subscriber guidance looks “conservative.” Shares of Netflix rose more than 1% in premarket trading on Wednesday, after losing as much as 2% Tuesday after the bell following the earnings report.Click here to read more about what every major analyst had to say about Netflix’s latest earnings. -Li

Big IBM gains and easing coronavirus fears are boosting stock futures. The implied open for the Dow is about 80 to 100 points higher. IBM shares popped more than 4% in the premarket on the back of strong earnings. S&P 500 and Nasdaq 100 futures also pointed to solid gains at the open. Sentiment on Wall Street was lifted amid dissipating concerns over the coronavirus that has swept across China. Chinese authorities have unveiled measures to curb the virus’ spreading. President Donald Trump also said the U.S. has everything “totally under control” as it relates to the coronavirus. —Imbert

—With reporting by Fred Imbert, Yun Li, Maggie Fitzgerald, Michael Sheetz, Pippa Stevens, John Melloy, Patti Domm