What's News: Business & Finance -- WSJ

This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (March 25, 2020).

The Dow surged 11.4%, its biggest one-day percentage gain in 87 years, on signs that lawmakers were nearing a deal on a stimulus package. The S&P 500 and Nasdaq jumped 9.4% and 8.1%, respectively.

Facebook said usage of its products was skyrocketing but warned that the increased activity wouldn't shield the company from an online-ad pullback.

Occidental Petroleum is cutting salaries for its U.S. employees by up to 30% in a bid to slash expenses, according to an internal email.

Nike said business has rebounded in China after the outbreak of coronavirus and that it was able to offset much of its lost store sales with online orders.

Top executives at U.S.-traded firms sold a total of roughly $9.2 billion in shares of their own companies between the start of February and the end of last week.

Boeing's CEO suggested he would decline taxpayer aid if lawmakers require the government to take an equity stake in the firm.

(END) Dow Jones Newswires

March 25, 2020 02:47 ET (06:47 GMT)

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