Oil prices rose as much as nearly 3% on Wednesday before paring some gains as investors piled back into the market after a heavy rout in the previous session, with supply concerns returning to the fore even as worries about a global recession linger.
Oil prices held near 13-week highs on Thursday, underpinned by robust demand in the world's top consumer United States while demand is expected to rebound in China as COVID-19 curbs across major cities are relaxed.
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Bitcoin, Moderna, FedEx, Google - 5 Things You Must Know Thursday
Congress appears closer to reaching a coronavirus aid package; Federal Reserve pledges continued support for economy; bitcoin crosses $23,000 for first time; Moderna vaccine goes before FDA advisory panel.
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1. Stock Futures Rise as Congress Closer to Stimulus Bill
Stock futures rose Thursday as congressional leaders appeared closer to agreeing to a coronavirus aid package and as the Federal Reserve said it would maintain monthly bond purchases until the economy makes substantial further progress.
Contracts linked to the Dow Jones Industrial Average were up 94 points, S&P 500 futures rose 17 points and Nasdaq futures gained 59 points. The tech-heavy Nasdaq closed at another record high on Wednesday.