It’s a roller coaster ride and no one seems to be getting off as markets attempt to rally from their worst day since the 1987 crash, plus stocks to watch today in the Money & Markets Opening Bell.

The Top Story

Forget about the usual superstitions that surround a typical Friday the 13th as Wall Street enters the final day of what has been nothing short of a tumultuous week.

On Thursday, U.S. markets crashed to a level that hasn’t been seen since the 1987 market free fall.

The S&P 500 dropped 9.5% on the day and has fallen more than 26% from its all-time high set just three weeks ago. The Dow Jones Industrial Average closed down a staggering 10%.

What’s happened since yesterday: Following the catastrophic day, markets are showing signs of life as the S&P 500 actually hit a “limit-up” this morning — a 5% jump — as markets try to rebound from yesterday’s colossal sell-off.

More cancelations: The English Premier League has officially suspended its season Thursday through the end of March. All four active major leagues in the U.S. — Major League Baseball, Major League Soccer, the National Hockey League and the National Basketball Association — have suspended play while the NCAA has canceled the men’s and women’s March Madness basketball tournaments.

What’s happening now: As of 8 a.m. EDT, Dow futures were up 5.3%. S&P 500 futures jumped 5.1% while Nasdaq Composite futures were up 5.6%.

Stocks to Watch Today

Adobe Inc. (Nasdaq: ADBE) — The computer software company beat analysts’ first-quarter earnings projections but issued a warning that the coronavirus could hurt spending in the next quarter. Shares of Adobe were up 7% in the premarket session.

Gap Inc. (NYSE: GPS) — Shares of the American clothing retailer were up 6.2% after beating earnings and revenue estimates for its holiday quarter that ended Feb. 1.

Broadcom Inc. (Nasdaq: AVGO) — The semiconductor software supplier could benefit from today’s market bounce. While it missed first-quarter estimates and pulled fiscal-year guidance Thursday, but shares were still up 4.5% in the early session.

News You Can Use

In an exclusive interview with Money & Markets, Euro Pacific Capital CEO Peter Schiff said he believes the Federal Reserve will step in to reinflate the bubble following Wall Street’s crash this week.

“And (the bear market) will continue until the central banks introduce some new extraordinary policy.  But it’s important to realize that this sell-off would have happened with or without the coronavirus. Stocks have been in bubble territory for quite some time, pushed higher by monetary stimulus which made investors forget that stocks could actually fall,” Schiff explained via email.

He said he expects central banks to put a floor under asset prices via stimulus — helping hard assets.

Reuters Poll: OPEC+ Deal Collapse, Virus Fears to Keep Oil in $30s Range

A survey by Reuters found most oil market analysts believe oil prices will continue to hover slightly above the $30 range for the foreseeable future.

The poll of 21 analysts are forecasting West Texas Intermediate crude prices to average around $30.37 a barrel. Analysts expect the global oil benchmark, Brent crude, to average about $34.87 a barrel in the second quarter.

Projections are based around the recent failure of OPEC+ nations to agree on a deal to curb production and stabilize prices due to fears of the coronavirus spread.

FDA Grants Roche Coronavirus Test Emergency Approval

The Food and Drug Administration has granted emergency clearance to a new, high-speed coronavirus test.

The test, developed by Swiss-based Roche Holding AG (Over-the-Counter: RHHBY) is designed to run on the company’s automated machines, according to The Wall Street Journal. Those machines are in more than 100 labs across the U.S.

Roche’s test will be available immediately.

What We’re Reading

Bear Market Panic: Stocks Hit Hardest By Coronavirus (Money & Markets)

Coronavirus Could Hurt Boeing More than 737 Max Crisis (CNN Business)

Chad Shoop Support Analysis: S&P Free Fall Continues. Where’s the Bottom? (Money & Markets)

Earnings Report

Here are the companies releasing earnings reports today:

Buckle Inc. (NYSE: BKE)

Gogo Inc. (Nasdaq: GOGO)

Harvest Capital Credit Corp. (Nasdaq: HCAP) Inc. (Nasdaq: OSTK)

SMTC Corp. (Nasdaq: SMTX)

Check back each morning before the opening bell for stocks to watch today with Opening Bell, here on Money & Markets.