- Wall Street closes higher as OPEC agrees 10M bpd cut
Markets in the United States closed higher on Thursday as investors focused on the OPEC+ meeting on output cuts amid the coronavirus crisis. According to the latest reports, all OPEC members and its allies agreed to reduce production by 10 million barrels per day in May and June despite Mexico initially refusing to join the effort. US markets will be closed tomorrow for Good Friday.
The Dow Jones climbed 1.22%. The best performer was JP Morgan whose shares surged 8.97%.
The Nasdaq 100 added 0.11%. The biggest gains were seen among airline stocks as United soared 14.5% and American Airlines rallied 10.41%.
The S&P 500 jumped 1.45%. Gap skyrocketed 15.80%.
The euro rose 0.69% against the dollar to sell for 1.09328 at 3:59 pm ET.