US equity markets rallied as a surge in oil prices eclipsed another grim weekly jobless claims report - Dow settled +470-points or +2.24% higher after trading in a greater than >700-point range. Energy giant Chevron Corp and Exxon Mobil Corp led the Dow higher, gaining 11% and 7.7%, respectively. The broader S&P500 gained +2.28%, with Energy (up +9.07%) the standout performer and leading all eleven primary sectors higher. The NASDAQ rose +1.65%. Tesla Inc rallied more than >17% in the extended session (after ending the regular trading day down -5.6%) after announcing that it delivered 88,400 vehicles in the first quarter, a performance the company called its “best ever” first quarter and a number only a tad below Wall Street expectations (i.e. 89K). In broader stock moves, Luckin Coffee Inc slumped -75.57% after the Chinese coffee chain said that an internal investigation had shown that its chief operating officer and other employees had fabricated sales transactions.
