Dow climbs 400 points as oil prices stabilize
US stocks rose Wednesday as the price of West Texas Intermediate crude oil rebounded after falling into negative territory Monday. Investors are also weighing first-quarter earnings, which show how US companies fared in the early stages of the coronavirus pandemic.
US stocks rose Wednesday, rebounding from two consecutive days of losses, as the price of oil stabilized from recent historic lows. crude for June delivery jumped as much as 23% on Wednesday, to $14.19 a barrel. On Monday, WTI May contracts closed at a record low of -$37.63 a barrel, the first time oil prices had ever fallen into negative territory. A supply glut amid the coronavirus pandemic cratered demand, sending prices lower.
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