Wall Street rises for first time in three days as oil spurts
NEW YORK (AP) — Wall Street climbed to its first gain in three days after strengthening oil prices revived beaten-down energy stocks.
The S&P 500 rose 2.3% and benchmark U.S. oil jumped nearly 25% following a tweet from President Donald Trump saying he expects Saudi Arabia and Russia to dial down their price war. Their conflict had helped drag oil down below $20 earlier this week from $60 early this year, hurting energy stocks and raising worries about defaults. The rebound in oil overshadowed 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.