Stocks surge as Fed rolls out $2.3T lending program U.S. equity markets surged Thursday morning after the Federal Reserve's plan to provide $2.3 trillion in lending to households and businesses overshadowed a surge in jobless claims. The Fed's initiative undergirds government efforts to combat fallout from the economic shutdown imposed to curb the spread of the COVID-19 pandemic. Traders were also awaiting the outcome of a virtual meeting between Russia, Saudi Arabia and other key oil players on curbing output to boost prices that cratered amid a price war. The Dow Jones Industrial Average was up 319 points, or 1.36 percent, while the S&P 500 and Nasdaq Composite were higher by 1.1 percent and 0.87 percent, respectively. The benchmark S&P 500 on Wednesday exited its bear market that began on March 12, making it the second shortest in history. More on this For more news, please go to FoxBusiness.com and watch Fox Business Network.

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