Traders work during the opening bell at the New York Stock Exchange (NYSE) on March 16, 2020 at Wall Street in New York City. (Photo by Johannes EISELE / AFP) (Photo by JOHANNES EISELE/AFP via Getty Images) NEW YORK - U.S.
equity markets surged Thursday morning after the Federal Reserve's plan to provide $2.3 trillion in lending to households and businesses overshadowed a surge in jobless claims.
The Fed's initiative undergirds government efforts to combat fallout from the economic shutdown imposed to curb the spread of the COVID-19 pandemic.
Traders were also awaiting the outcome of a virtual meeting between Russia, Saudi Arabia and other key oil players on curbing output to boost prices that cratered amid a price war. RELATED: