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Coronavirus outbreak: U.S. stock market rises on Thursday on hopes of oil price war truce

U.S. stocks rose on Thursday as hopes for a truce in the price war between Saudi Arabia and Russia and a cut oil output drove gains, helping to offset the shocking jump in Americans filing for jobless claims due to coronavirus-led lockdowns.

The S&P energy index, down by more than 50% this year due to a price war between Russia and Saudi Arabia and coronavirus-driven demand worries that has caused oil prices to plunge, climbed 8.01%,

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