U.S. markets surge with the Nasdaq closing at a record high and the S&P 500 turns positive for 2020 as investors wait on this month’s Federal Reserve rate decision. Veteran hedge fund manager Stanley Druckenmiller tells CNBC that the current market rally and Fed moves caught him by surprise. President Trump has announced that he will not defund police departments after Democrats called for law enforcement reform in the wake of the alleged killing of George Floyd. In energy news, Saudi Arabia has said that it will no longer cut additional oil supplies following the latest OPEC+ one-month extension. And BP is set to slash 10,000 jobs despite rising oil demand.

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