NEW YORK: Wall Street stocks finished a roller-coaster session sharply higher Tuesday as oil prices bounced while the Trump administration continued to promise relief measures to offset the economic hit from coronavirus.
Analysts warned of more volatility ahead amid uncertainty of how much the virus will spread in the United States, the extent it further dampens activity in the world’s biggest economy and the robustness of the US policy response. On Tuesday, the New York International Auto Show was rescheduled to late August from April due to virus fears.
There were also reports in US media that Trump is considering freezing payroll taxes on workers and offering some form of relief to US shale producers, which face significant challenges after a brutal drop in oil prices.
Source: News Formal (newsformal.com)
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