US equity markets soared amid growing optimism that Congress will come to an agreement on an ~US$2 trillion fiscal stimulus package aimed at combatting the economic impact of the coronavirus epidemic - Dow rocketed +2,113-points or +11.37% to log its biggest one-day point gain ever and its best percentage gain since 1933 (and fifth best ever) - and just a day after plumbing the lowest levels since 2016. Fitch ratings Boeing Co’s credit rating to two notches above junk, with a negative outlook (which means there’s a one-in-three chance of a further downgrade). However, Boeing rallied +20.9% after Chief Executive Officer (CEO) Dave Calhoun said he would not accept the government taking an equity stake in the aerospace giant in exchange for a bailout. The broader S&P500 gained +9.38% - its biggest single day percentage gain since October 2008 - with 303 index constituents recording double-digit rises (62 of those companies logging gains of over >20%). Energy (up +16.3%) led all eleven primary sectors higher. Chevron Corp jumped +22.74% after the oil giant said it would cut its 2020 capital expenditure by US$4B and temporarily halt share repurchases. General Motors (up +19.9%) said that it is planning to draw down ~$16B from its revolving credit facility. The NASDAQ gained +8.12%. Intel Corp rose +5.7% despite the company announcing it would suspend its share repurchase program. President Trump on floated the idea of restarting the economy soon to limit the damage to small and medium-size businesses, For the year to date, the Dow is down 27.45%, S&P 500 -24.25%, and the technology-heavy Nasdaq is -17.33%.