NEW YORK (AP) – Stocks are closing with solid gains on Wall Street Thursday after shaking off a rocky start. The trading was still bumpy but nothing like the wild swings seen in recent weeks.
The Dow Jones industrials gained almost 200 points, or 1%. Investors were cautiously optimistic after seeing more steps by the Federal Reserve and other central banks as well as governments to support credit markets and the economy.
Still, the devastating impact of the coronavirus outbreak is starting to show itself in economic data. The price of crude oil rebounded sharply after plummeting a day earlier.