After a two day sell-off driven by a crash in energy markets, US equity markets on Wednesday’s session closed higher with the Dow up 1.99%, the Nasdaq 100 was up by more than 3% while the S&P 500 closed 2.29% higher. The technology sector drove market sentiment with Microsoft rising 3.40%.
Meanwhile, the US Senate approved its fourth relief package, worth $484 Billion aimed at helping small businesses cushion against the pandemic. This comes amid President Trump’s move to sign an executive order to temporarily halt immigration into the county. The order is expected to last for 60 days and is aimed at mitigating COVI19 effects on the US economy
WTI contracts for June gained by more 20% to sell for $14.18 per barrel at 10.00 am Eastern Time, while Brent rose by nearly 10% to hit $21 a barrel.
Data Source; FXPesa Kenya