NEW YORK, April 23 — Wall Street surged yesterday as oil prices recovered and Congress looked on course to approve nearly US$500 billion (RM2.18 trillion) more in aid to help small businesses ride out the coronavirus crisis. US crude and benchmark Brent prices climbed after a collapse in the past...
Thursday, 23 Apr 2020 07:07 AM MYT
US crude and benchmark Brent prices climbed after a collapse in the past two days, sending the S&P 500 energy index up 3.6 per cent. Estimates for US jobless claims for the latest week ranged as high as 5.5 million, while a reading on April US factory activity was likely to fall to levels last seen during the 2008 financial crisis. Both reports are due today.
Investors will also be paying close attention to capital allocation from companies, Perez added, “You have to have the cash to sustain and ride out to the other side.” Burrito chain Mexican Grill Inc jumped about 14 per cent after it reported soaring digital and home delivery sales and said it had enough cash and liquidity to get through the next year.
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