Photo: Luiz Roberto Lima-ANB/Pacific Press/LightRocket via Getty Images

Stocks closed up more than 9% on Tuesday, marking yet another day of huge moves in the stock market amid the coronavirus pandemic.

Driving the news: Congressional leaders signaled that they're close to striking a deal on a massive stimulus package that will soften the blow for businesses and consumers as the pandemic threatens an unprecedented halt in economic activity.

By the numbers: The S&P 500 jumped 9.3%. The Dow rose 11.2% (or 2,112 points), while the Nasdaq climbed 8.1%.

  • It was the Dow's biggest percentage gain since 1933.

What to watch: President Trump told Fox News he would like to have the country "opened up, and just raring to go" by Easter, which is less than 3 weeks away. Economists warn restarting economic activity before the coronavirus is contained would be more harmful for the economy in the long-run.

  • "Trying and failing to reopen the economy before economic activity is organically ready to resume could have dire economic consequences," Michael Strain, an economist at right-leaning think tank AEI, wrote in a Bloomberg op-ed today.

Of note: One of the first economic data points since the economy shuttered in response to the coronavirus was released this morning. As expected, it wasn't pretty.

  • Indices measuring activity in the U.S. manufacturing and service sectors fell to the lowest level since 2008.
  • For the eurozone, the index saw the worst reading ever in the survey's 22-year history.

Go deeper

OPEC's balancing act: increasing output against smaller demand

An off-shore oil platform in California. Photo: Omar Marques/SOPA Images/LightRocket via Getty Images

The Organization of the Petroleum Exporting Countries (OPEC+) coalition is entering the next phase of fraught market-management efforts that have repercussions for the battered U.S. oil industry.

Driving the news: The group yesterday agreed to press ahead with plans to begin increasing output as demand haltingly recovers.

More than 32 million Americans are receiving unemployment benefits

Photo: Jay L. Clendenin / Los Angeles Times via Getty Images

More than 32 million Americans are receiving some form of unemployment benefits, according to data released by the Labor Department on Thursday.

Why it matters: Tens of millions of jobless Americans will soon have a smaller cash cushion — as coronavirus cases surge and certain parts of the country re-enter pandemic lockdowns — barring an extension of the more generous unemployment benefits that are set to expire at the end of the month.

2 hours ago - Sports

Alumni fight to save college sports

Data: Mat Talk Online; Chart: Andrew Witherspoon/Axios

242 collegiate athletic programs have been cut amid the pandemic, altering the careers and lives of thousands of student-athletes.

Yes, but: Some passionate alumni groups have opted to fight, banding together in hopes of saving the programs they helped build and continue to love.