Markets open with gains as oil prices rebound

The Dow Jones climbed 413 points Wednesday morning as the markets opened. The S&P 500 gained 2%.

U.S. futures were up 350 points in premarket trading, as oil prices rebound into positive territory. Oil futures were up 20% before the trading bell. The West Texas Intermediate stock price rose 12% overnight to $12.92 per barrel. 

Larry Kudlow, chief economic adviser to President Trump, said Tuesday that he expects oil prices to rise naturally again as the economy begins to re-open. 

European stocks closed higher, after major Asian indexes turned positive toward the end of the trading day as well.

On Tuesday the S&P 500 had its worst day in several weeks, posting a 3% loss primarily due to the inversion in oil prices.