Stocks open higher on Wall Street as markets see somewhat calmer trading after a brutal week of swings.
FILE - This Jan. 31, 2020, file photo shows a Wall Street sign in front of the New York Stock Exchange. Global stock markets and U.S. futures are up on hopes that government aid and central banks can shield the global economy against the rising impact of the coronavirus pandemic. Indexes in London, Frankfurt, Shanghai and Hong Kong advanced Friday, March 20, 2020 and U.S. futures were also higher.
After an initial upward move as trading opened, the major indexes were wavering between small gains and losses. The Dow Jones Industrial Average was down 0.7% and the S&P 500 index dropped 0.9%. The Nasdaq, heavily weighted with technology stocks, was up 0.5%. The mixed start for the U.S. indexes followed solid gains across markets in Europe. Stock markets in Asia closed higher.
Members of President Donald Trump’s economic team were convening Friday on Capitol Hill to launch negotiations with Senate Republicans and Democrats racing to draft a $1 trillion-plus economic rescue package amid the coronavirus outbreak. They are trying to reduce the impact of a global recession that forecasters say looks increasingly likely as the United States and other governments tighten travel controls, close businesses and tell consumers and travelers to stay home.
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