Wall Street opens sharply after Trump orders

NEW YORK (AP) – Stock prices rose sharply Wednesday morning at the start of trading on the New York Stock Exchange after President Donald Trump spoke in favor of providing financial assistance to airlines.

The S&P 500 index was up 1.2% at the start of the day.

Trump asked Congress to approve financial aid to airlines, despite the fact that a few hours earlier he refused to continue negotiating with Democrats on an assistance package for individuals affected by the coronavirus pandemic.

Airlines rose sharply at the start of business on Wednesday, and Treasury yields were on the rise.

European markets showed mixed trends, and Asian markets rose sharply.

Oil prices were falling.

Since last week Wall Street has shown its recovery after 4 weeks of losses. A flurry of corporate deals injected confidence into investors who returned to shopping on American exchanges.

Devon Energy and WPX Energy rose sharply after agreeing to merge, while Cleveland-Cliffs gained traction after announcing it will buy the US business from steel and mining giant ArcelorMittal.

Uber jumped after winning an appeal that will allow it to continue operating in London.

SOURCE: AP

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