(Friday, March 13, 2020,  10:00 p.m. ET) — After plummeting 26.7% from its all-time record high, set just three weeks ago, the U.S. stock market soared 9.3% on Friday. Financial and economic indicators signaled that the Coronavirus crisis could be short-lived.

Forecasts for growth remained bright, according to The Wall Street Journal's monthly poll of 60 economists and the Federal Reserve Bank of Atlanta. In addition, stock prices have fallen well below long-term historical valuation and return norms.

The Atlanta Fed on March 6 updated its GDPNow calculation of growth in the current quarter. Its algorithm indicates the first quarter of 2020, despite Coronavirus will grow by 3.1%. This forecast was made a week ago, before sports schedules were postponed but after the outbreak.