Stocks end another whipsaw day solidly higher, led by energy
Copyright 2020 The Associated Press. All rights reserved.
FILE - In this Jan. 3, 2020 file photo, the Wall St. street sign is framed by American flags flying outside the New York Stock Exchange in New York. Shares are down in European trading on Friday, March 27, and expected to drop on Wall Street as investors weigh news of more virus infections against the economic stimulus provided by world authorities. (AP Photo/Mary Altaffer, File)
The Associated Press
Posted at 1:14 PM, Apr 02, 2020
and last updated2020-04-02 16:37:55-04
Stocks are closing solidly higher after another whipsaw day, giving the market its first gain in three days.
Major U.S. indexes rose more than 2% Thursday. Energy stocks led the way higher as the price of crude oil jumped 25%, bouncing further off an 18-year low, after President Donald Trump said he expects Saudi Arabia and Russia to dial down their price war.
The rebound in oil, which was welcome news to a struggling U.S. energy sector, offset another dire report on the jobs market. Millions more Americans filed for unemployment benefits last week as businesses shut down because of the coronavirus outbreak.
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