Reuters

U.S. stock index futures rose on Wednesday, putting Wall Street on course to extend its massive bounce from the previous session, as Washington reached a deal on a $2 trillion stimulus package to help ease some economic pain from the coronavirus pandemic.

South Korea's Kia Motors Corp is considering making face masks at its Chinese factory to help battle the spread of the coronavirus, a spokesman said on Wednesday.

Those pining for a bottom to the gut-wrenching stock market selloff may be disappointed to learn that mega one-day rallies like the historic one witnessed on Tuesday are typically not the start of a durable recovery.

Oil and gas companies are cutting spending plans in response to the new coronavirus and a push by Saudi Arabia and Russia to ramp up output.

Oil prices extended gains for a third session on Wednesday, rising alongside broader financial markets as the United States is expected to approve a massive aid package to stem the economic impact of the coronavirus pandemic.

Truckmaker AB Volvo said on Wednesday it had decided to postpone its annual shareholders meeting due to the prevailing uncertainty around the effects from the global coronavirus outbreak.

Boeing Co plans to restart 737 MAX production by May, ending a months-long halt triggered by a safety ban on its best-selling jet after fatal crashes, people familiar with the matter said on Tuesday.

Asian shares gained on Wednesday in the wake of Wall Street's massive rebound as U.S. senators and Trump administration officials reached an agreement on a giant economic stimulus bill to alleviate the economic impact of the coronavirus outbreak.

Occidental Petroleum Corp will cut employee salaries by up to 30%, according to an internal memo reviewed by Reuters, as the debt-laden U.S. oil producer tries to save cash amid tumbling energy prices.

Detroit's Big Three automakers plan to extend a current shutdown of vehicle production in North America into April as the coronavirus pandemic continues, people briefed on the matter said Tuesday.

By Gertrude Chavez-Dreyfuss, Kate Duguid and Abhinav Ramnarayan

Asian shares extended their rally on Wednesday in the wake of Wall Street's massive rebound as the U.S. Congress appeared closer to passing a $2 trillion stimulus package to mitigate the economic blow from the coronavirus pandemic.

U.S. President Donald Trump on Tuesday said he wants the U.S. economy to reopen by Easter Sunday, April 12, despite the rapid spread of the novel coronavirus in some U.S. states and a rising death toll from the disease.

Oil prices extended gains for a third session on Wednesday, rising alongside broader financial markets on hopes Washington will soon approve a massive aid package to stem the economic impact of the coronavirus pandemic.

The German elevator-to-car parts conglomerate Thyssenkrupp will cut 3,000 jobs at its steel unit by 2026 as part of a wage deal it struck with powerful labor union IG Metall, it said on Wednesday.

Asian shares extended their rally on Wednesday in the wake of Wall Street's big gains as U.S. Congress appeared closer to passing a $2 trillion stimulus package to curb the coronavirus pandemic's economic toll.

At least two more New York Stock Exchange floor traders tested positive for the coronavirus on Tuesday despite measures taken to prevent people infected by the virus from entering the exchange while it remained physically open last week, according to a memo seen by Reuters.

Nike Inc beat estimates for quarterly revenue on Tuesday as strong digital demand offset the first China sales drop in nearly six years from the coronavirus-fueled shutdowns, but the company held back from providing a forecast due to the outbreak.

Two more New York Stock Exchange floor traders tested positive for the coronavirus on Tuesday despite strict measures taken to prevent people infected by the virus from entering the exchange while it remained open last week, according to a memo seen by Reuters.

European airlines crippled by the coronavirus have demanded lasting relief from environmental taxes - in a move that pits their immediate survival against longer-term emissions goals.