U.S. stocks ended sharply higher on Wednesday after President Donald Trump announced his support for specific virus relief measures. The Dow Jones Industrial Average advanced 530.70 points, or 1.91%, to 28,303.46. The S&P 500 rose 58.50 points, or 1.74%, to 3,419.45. The Nasdaq Composite climbed 210.00 points, or 1.88%, to 11,364.60.
Oil futures settled lower on Wednesday, undermined by a weekly rise in U.S. crude-oil inventories and concern about demand given the muddled outlook for another round of fiscal stimulus by Congress in response to the COVID-19 pandemic. West Texas Intermediate crude for November delivery fell 72 cents, or 1.8%, to settle at $39.95 a barrel after trading as low as $39.28. December Brent crude shed 66 cents, or nearly 1.6%, to $41.99 a barrel.
The Federal Reserve released meeting minutes from its Sept. 15-16 meeting Wednesday afternoon, which shed more light on central bank officials’ concerns that the economic recovery might be curbed in absence of further support from Congress.
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