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U.S. Stocks Climb With Tech Luring Bargain Hunters: Markets Wrap

  • Oil posts record rebound after WTI falls to $20 a barrel
  • Investors find hope in policy makers’ pledges to save economy
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WATCH: The ECB’s action is a “powerful statement,” according to UniCredit Chief Economist Erik Nielsen.Source: Bloomberg
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U.S. stocks edged higher as investors gave a tepid vote of confidence to the battery of economic and financial measures from global policy makers aimed at easing the market turmoil. Oil soared and the dollar extended its rally.

The Nasdaq Composite Index led gains as bargain hunters snapped up tech shares, with Tesla Inc., Twitter Inc. and Netflix Inc. all up at least 5%. The Dow Jones Industrial Average climbed back above 20,000. Crude surged the most on record as Middle East producers began to show signs of strain and President Donald Trump said he would get involved in the oil price standoff at the “appropriate time.”