The stock market just completed a 50% retracement of its coronavirus plummet. Perched atop a 3-week peak to which it was driven by reduced negativity is hardly cause for a bull market rallying cry. Instead, the stock market needs to prove its mettle either by pausing to build a foundation or by testing (i.e., not breaking below) its recent lows, Forbes reported. 

Global stocks posted small gains on Thursday on hopes that the coronavirus outbreak may be slowing in the United States and Europe. Oil futures, meanwhile, are rising ahead of a meeting between Russia and OPEC to discuss production cuts.