Friday, April 3, 2020

Sec. Steven Mnuchin: "If we don't have your direct deposit information, we'll be putting up a web portal so that you can put that up."

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U.S. equity markets, in a volatile session, rallied Thursday afternoon after global oil prices posted the biggest one-day gain ever after President Trump said Russia and Saudi Arabia will likely cut oil production. ⁣ ⁣The Dow Jones Industrial Average rose over 469 points or over 2.2 percent, the S&P 500 also gained 2.2 percent while the Nasdaq Composite rose 1.72 percent. ⁣ ⁣Stocks took their lead as the U.S. oil benchmark surged by 24.67 percent to $25.32 - the biggest gain since record-keeping began in March of 1983 as tracked by the Dow Jones Market Data Group. ⁣ ⁣Brent, the global benchmark, saw the same action rising 21.02 percent to $29.94 per barrel. ⁣ ⁣Following Trump's announcement Saudi Arabia called on OPEC members, their allies and other countries to hold an urgent meeting "with aim of reaching a fair agreement to restore the desired balance of oil markets."

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