Wall St. gains as investors weigh stimulus against shutdown

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(Reuters) – Wall Street rose on Monday as President Donald Trump followed last week’s massive fiscal stimulus package by extending his stay-at-home guidelines, leaving investors hopeful that the economic impact of the coronavirus could still be contained.

NYSE-AMEX Options floor traders from TradeMas Inc. work in an off-site trading office built when the New York Stock Exchange (NYSE) closed, due to the outbreak of the coronavirus disease (COVID-19), in the Brooklyn borough of New York City, U.S., March 26, 2020. REUTERS/Brendan McDermid

A record $2.2 trillion in aid and unprecedented policy easing from the Federal Reserve helped the S&P 500

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Oil falls back to 18-year lows below $20 as global demand evaporates

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Foreign “guest workers” drill at the Saudi Aramco oil field complex facilities on March 2003 in Shaybah, Saudi Arabia.

Reza | Getty Images

U.S. oil dropped more than 7% to trade around an 18-year low on Monday as demand continues to evaporate, and as Saudi Arabia and other OPEC+ nations prepare to ramp up production.

With much of the world in lockdown as the coronavirus pandemic rages on, demand for oil has fallen off a cliff. People aren’t travelling and business has slowed, reducing the need for jet fuel and gasoline.

U.S. West Texas Intermediate crude dropped 7.3% to trade

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Explainer: The transatlantic divide on how banks handle coronavirus loans

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LONDON (Reuters) – The United States has given banks a two-year break from provisions for loans soured by the coronavirus pandemic, seeking to keep credit flowing while borrowers struggle to stay afloat as economic activity grinds to a halt.

FILE PHOTO: The U.S. Federal Reserve Board building on Constitution Avenue, Washington, U.S., March 19, 2019. REUTERS/Leah Millis/File Photo

Europe, meanwhile, is taking a less accommodating stance as the authorities on opposite sides of the Atlantic follow different paths, in contrast with the close global cooperation aimed at rebuilding resilience in the aftermath of the financial crisis a decade ago.

The

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Swiss bank UBS sticks to 2019 dividend amid global calls for payout freezes

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ZURICH (Reuters) – UBS Group (UBSG.S) intends to pay its 2019 dividend, the Swiss bank said on Monday, despite guidance from markets supervisor FINMA, the Swiss government and international banking groups to limit payouts as the coronavirus outbreak hits the global economy.

FILE PHOTO: The logo of Swiss bank UBS is seen at a branch office in Basel, Switzerland March 2, 2020. REUTERS/Arnd Wiegmann

The lender’s proposed dividend of $0.73 in cash per share is up nearly 6% over 2018 and foresees a payment of $2.6 billion after the bank posted a net profit attributable to shareholders of

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