Stocks rebound on Fed debt program, oil recovers

Stocks rebound on Fed debt program, oil recovers

NEW YORK (Reuters) - A gauge of global equities rebounded on Monday after the Federal Reserve widened its program of buying corporate debt, while crude oil rebounded too on signs fuel demand is recovering and as investors grapple with how to assess the economic reopening.. The Fed and other major central banks have sparked a rapid recovery in equity markets from a steep plunge in March by enacting a number of fiscal and economic stimulus programs, but investors have been uncertain about the economic recovery.. Fears of a second wave of COVID-19 infections had earlier rocked world markets, knocking down oil prices and major equity indices by more than 2% on Wall Street and Europe, and even more overnight in Asia.. Crude oil cut losses and turned higher on signs members of the Organization of the Petroleum Exporting countries and allies were complying with a production cut, and on signs of rising fuel demand.. FILE PHOTO: The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020.. Reporting by Herbert Lash; additional reporting by Stephanie Kelly in New York; editing by Jonathan Oatis.