Jobs data released last week easily beat analyst expectations while U.S. manufacturing and services activity show signs of improvement.

Both the S&P 500 and Nasdaq Composite closed at fresh highs on Monday, while the Dow jumped more than 170 points. However, companies such as Under Armour have noted they will take a hit from the outbreak. Under Armour warned Tuesday the outbreak could lower sales by $50 million to $60 million.

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