Stocks Gain After Fed Ignites Risk-On Sentiment: Markets Wrap

Oil rises amid signs of improving demand, declining production
Treasuries erase gains; Dollar extends loss versus major peers

“A correction is necessary,” says Peter Dixon, global equities economist at Commerzbank. He speaks with Bloomberg’s Francine Lacqua on “Bloomberg Surveillance.” (Source: Bloomberg)

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By Katie Greifeld and Vildana Hajric

June 14, 2020 at 9:08 PM UTC

Updated on

June 15, 2020 at 8:05 PM UTC

This article is for subscribers only.

U.S. stocks edged higher in volatile trading after the Federal Reserve followed through on a pledge to buy corporate bonds under an emergency lending program.

The S&P 500 closed up 0.8% after swinging from loss of as much as 2.5% amid concern about a second wave of the coronavirus pandemic, to a gain of as much as 1.3%. Oil futures rebounded after dropping to less than $35 a barrel as BP Plc warned the pandemic will hurt long-term energy demand.