World equity markets moved higher and oil prices stabilized on Wednesday on hopes the coronavirus pandemic is peaking and that more government stimulus measures could be on the way.

In midday trading on Wall Street, the Dow Jones Industrial Average rose 496.11 points, or 2.19%, to 23,149.97, the S&P 500 gained 54.38 points, or 2.04%, to 2,713.79 and the Nasdaq Composite added 139.12 points, or 1.76%, to 8,026.38.

Gains in the U.S. helped bolster other world markets after euro zone finance ministers failed to agree during all-night talks on more support for their coronavirus-hit economies. Eurogroup chairman Mario Centeno said on Wednesday he was suspending the discussions until Thursday.