The S&P 500 Index gained for the first time in three days after Trump said he expects the two countries to cut crude output by about 10 million barrels after he spoke by phone with Crown Prince Mohammed Bin Salman on Thursday.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.2 per cent. Japan's Nikkei extended Wednesday's heavy drop with a 1.5 per cent fall, and investors are beginning to worry that equities may re-test last month's lows.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.23%. Australian shares jumped by 2.87%, reversing a 2% decline on Tuesday, as a slowdown in new coronavirus cases and rising iron ore prices lifted the market.
The surge of coronavirus cases around the world has sent markets to breathtaking drops since mid-February, undercutting what had been a good start to the year.
Japan's Nikkei firmed 1.0% after a jittery start, while South Korea added 2%. E-Mini futures for the S&P 500 added another 0.6%, supported by talk of book-keeping demand.
E-Mini futures for the S&P 500 skidded 1.2% right from the bell, and Japan's Nikkei 3.7%. EUROSTOXXX 50 futures fell 0.6% and FTSE futures 1.3%.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3%, while Japan’s Nikkei rose 3.88%, capping its biggest weekly gain on record. Australian shares gave up gains to fall 5.3% after a strong week.
The Dow finished up 21% from its Monday low, establishing it in a bull market, according to a widely used definition. It was the index's strongest three-day percentage increase since 1931.
MSCI’s broadest index of Asia-Pacific shares outside Japan wobbled either side of flat. Japan’s Nikkei slumped 4% and U.S. stock futures fell 1%.
The Dow Jones Industrial Average soared 11.37% to end at 20,704.91 points, while the S&P 500 jumped 9.38% to 2,447.33. The Nasdaq Composite rallied 8.12% to 7,417.86.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.7% with Australian shares jumping 3.4% and South Korean shares gaining 3.5%. Japan's Nikkei surged 4.8%.
MSCI's broadest index of Asia-Pacific shares outside Japan jumped 4.2%, to more than halve Monday's drop. Shanghai blue chips gained 2.7%.
The Nikkei average gained 0.5% to 16,633.46 by the midday break, not far though from a 3-1/2-year low of 16,378.94 touched last Tuesday. Earlier in the session, the index rose as much as 1.7%.
MSCI's broadest index of Asia-Pacific shares outside Japan lost 4.4%, with New Zealand's market shedding a record 10% as the government closed all non-essential businesses.
The benchmark S&P 500 index ended off of its lows of the session but still down 5.2%, extending the recent plunge that ended Wall Street's longest-ever bull run. The S&P 500 is now down about 29% from its Feb. 19 record closing high.
Even US President Donald Trump’s boundless enthusiasm for the US economy has wilted in the face of what promises to be a widespread economic slowdown, as he acknowledged Monday that the country might be heading toward a recession.
The Dow Jones Industrial Average fell 2,997.1 points, or 12.93%, to 20,188.52, the S&P 500 lost 324.89 points, or 11.98%, to 2,386.13. The Nasdaq Composite dropped 970.28 points, or 12.32%, to 6,904.59.
S&P 500 futures fell 4.77% to hit a daily down trading limit overnight, signaling the benchmark index could trigger a 15-minute cutout put in place to prevent another 1987 "Black Monday"-style crash.
The suspension of professional sports games, canceled conventions and half-empty restaurants has raised fears - not about whether the longest U.S. economic expansion on record is ending - but about how deep a now presumed recession will be.
US S&P500 futures dived 4.7 per cent, a day after the S&P 500 lost 4.89 per cent, putting the index firmly in a bear market territory, defined as a 20 per cent fall from a recent top. MSCI's broadest index of Asia-Pacific shares outside Japan lost 4.1 per cent to its lowest level since early 2019, while Japan's Nikkei dropped 5.3 per cent.
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