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Yahoo BusinessApr 02, 2020
Asian Stocks Set to Open Higher; Oil Holds Surge: Markets Wrap
(Bloomberg) -- Asian stocks looked poised to open higher following a volatile session in the U.S., with oil producers well supported after President Donald Trump said Russia and Saudi Arabia would cut production.The S&P 500 closed up 2.3% with energy shares the best performers, while consumer discretionary stocks lagged after jobless claims doubled from last week to 6.6 million. Futures in Japan and Australia climbed and U.S. contracts opened little changed in Asia. Treasuries retreated amid a slew of corporate supply. West Texas crude remained around $25 a barrel after surging 22% on Thursday, though the advance was pared as officials from both sides watered down expectations. The dollar pushed higher and yen and euro fell.With the coronavirus now infecting 1 million people and lockdowns for many economies around the world expected to go on for longer, economic data are showing the severity of the impact. Nearly 10 million people in the U.S. have lost their jobs in the past two weeks, more than were lost during the whole 2008-09 recession."We are not going to have the real recovery in the market until what we think is the peak in the amount of infections and deaths," Stephen Dover, head of equities at Franklin Templeton, said on Bloomberg TV. "We are going to continue to have very wide volatility until we can get over this uncertainty."These are the main moves in markets:StocksFutures on the S&P 500 were little changed as of 7:09 a.m. in Tokyo. The gauge ose 2.3% on Thursday.Futures on Japan's Ni

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NYTimes BusinessApr 02, 2020
Stocks Rally as Oil Soars on Hopes of Production Cuts: Live Updates
Live updates on stock market and business news during the coronavirus outbreak.

Google Business NewsApr 02, 2020
Why U.S. Shale Will Survive The Oil Price War - OilPrice.com
Why U.S. Shale Will Survive The Oil Price War  OilPrice.comOil Deal? - Trump Expects Saudis, Russia Will Cut Oil Production  Bloomberg Markets and FinanceStocks soar on oil's record gain as Trump expects Russia, Saudi Arabia to cut output  Fox BusinessTrump's 10 Million Barrel Tweet Is Performance Art  BloombergOil crash poses severe test for OPEC after Moscow, Riyadh miscalculate  Yahoo Finance

Reuters BusinessApr 02, 2020
Oil jump lifts Wall Street as jobless claims data surges
U.S. stocks rallied on Thursday as hopes for a truce in the price war between Saudi Arabia and Russia and a cut in oil output drove gains, taking some sting out of a shocking jump in Americans filing jobless claims due to coronavirus-led lockdowns.

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MarketWatch MarketPulseApr 02, 2020
Dow closes more than 450 points higher on hopes of Russian-Saudi oil output cuts
Stocks closed higher on Thursday amid hopes that Saudi Arabia and Russia will curtail oil production, providing stability to energy markets roiled by the price war between the two crude exporters. The S&P 500 rose 2.2% to 2,527. The Dow Jones Industrial Average advanced 470 points, or 2.2%, to 21,413, based on preliminary numbers. The Nasdaq Composite was up 1.7% to 7,487. President Donald Trump said he expected Russia and Saudi Arabia to cut oil production by as much as 15 million barrels a day. Futures for a U.S. crude benchmark were up $5.01 to $25.32 per barrel on Thursday. The positive developments helped markets shrug off worrisome labor-market data. Some 6.65 million Americans filed for first-time jobless benefits in the week ending March 28, doubling the previous week's record rise of 3.28 million.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



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