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5/4, 10:00 PM (Source: TeleTrader)
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US closes higher on Treasury's borrowing plans

Stock markets in the United States closed in the green on Monday as the Treasury Department revealed plans to borrow $3 trillion in net marketable debt in the second quarter of the year to mitigate the effects of the coronavirus crisis. Meanwhile, factory orders in the US tumbled in March at the biggest rate on record.

In business news, stocks of the US biggest airlines plunged after Warren Buffett's Berkshire Hathaway sold all their shares in these companies, while a report suggested GE Aviation plans to reduce the number of staff by 25%.

The Dow gained 0.11% at the closing bell as Exxon Mobil rose 4.03%. The Nasdaq 100 jumped by 1.33% as the session ended, with Tesla surging 8.54%. The S&P 500 ended with an increase of 0.42%. Phillips 66 led the table by advancing 10.73%.

The euro lost 0.76% compared to the dollar to sell for $1.08974 at 4:02 pm ET.

Breaking the News / ND