European markets are expected to open higher Wednesday after the White House confirms that U.S. senators have agreed to the Trump administration's massive economic rescue bill.
White House official, Eric Ueland said early on Wednesday that U.S. senators and White House officials have reached an agreement on the massive stimulus package to mitigate the economic hit from the coronavirus outbreak.
"We have a deal," White House official, Eric Ueland told reporters, according to Reuters. This comes after days of tense negotiations between Republicans and Democrats over how the funds should be handed out to workers and businesses to help cushion the blow from the coronavirus pandemic. Hopes of an impending deal prompted the Dow to soar more than 2,100 points, or more than 11%, notching its biggest one-day percentage gain since 1933 and its best point increase ever. TheIn Europe Tuesday evening, the Eurogroup of euro zone finance ministers
failed to come to an agreement over the use of the European Stability Mechanism to help euro zone membersOn the earnings and data front, E.On releases earnings and Credit Suisse releases its annual report; Germany's Ifo Institute releases its March survey of business sentiment.
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