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U.S. Stocks Rally Along With Oil; Treasuries Fall: Markets Wrap

  • S&P 500 declined 6% over past two days; record jobless claims
  • Trump says Russia, Saudi Arabia to cut crude production
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A Record 6.65 Million File for U.S. Weekly Jobless ClaimsDaybreak: Europe. (Source: Bloomberg)
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U.S. stocks rallied, boosted by energy shares as oil surged after President Donald Trump said Russia and Saudi Arabia would cut production. Treasuries fell and the dollar rose.

The S&P 500 advanced for the first time in three days, with Chevron Corp and Exxon Mobil Corp. among the top gainers. Shares rebounded after falling 6% over the past two days. Consumer discretionary stocks weighed on the benchmark after jobless claims doubled from last week to 6.6 million.