Business Wall Street rises sharply on heap of oil deal...

Wall Street rises sharply on heap of oil deal | Financial

The leading Dow-Jones index ended 3.4 percent higher at 23,433.57 points. The broad S&P 500 also rose 3.4 percent to 2,749.98 points, and tech indicator Nasdaq gained 2.6 percent to 8,090.90 points.

Investors continue to wonder if Russia and Saudi Arabia can conclude an armistice in their price war at a meeting of oil cartel OPEC and its allies later this week and cut production to prop up oil prices. Algeria confirmed that Friday is talking about a significant reduction in production. A barrel of American oil became 10.6 percent more expensive at $ 26.13. Brent oil cost 5.5 percent more at $ 33.36 a barrel.

McDonald’s

McDonald’s won 1.1 percent. The fast food chain saw comparable store sales fall in the first quarter due to the corona crisis. The company also revoked its forecast and expects to invest less in new restaurants this year.

Jeans maker Levi Strauss (plus 9.3 percent) threw out earlier forecasts for this financial year because of the corona crisis. The impact of the virus on the results of the jeans and other fashion maker is still unknown. The impact will be “significant” in the current second quarter, Levi Strauss warned.

Zoom

Video chat company Zoom indicated to make several improvements to its software. Earlier, the German Ministry of Foreign Affairs and Google had restricted the use of the software due to security concerns after a series of shortcomings that had been identified. The share was put 3.6 percent higher.

Digital bulletin board Pinterest published numbers of user numbers that were better than expected and rose nearly 12 percent.

The euro was worth $ 1.0856, against $ 1.0863 at the close of the European stock exchanges.

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