Moscow and Riyadh have reached an agreement in principle to cut their crude oil output.
America's central bank stepped up to the plate yet again with plans to provide as much as $2. 3trn in financing for the private sector, especially for small and medium-sized companies, alongside local and state governments.
US consumer confidence registered its largest monthly drop ever in April, although a key gauge of Americans' expectations for the future help up relatively well all things considered.
Japanese authorities unveiled plans at the start of the week to launch the country's biggest ever stimulus package in a bid to contain the economic fallout from the Covid-19 pandemic.
America's shortfall in trade with the rest of the world narrowed sharply in February as Chinese exports slowed amid the impact from the Covid-19 pandemic.
US jobless claims surged even further last week as businesses rushed to shutter activity, surpassing even the most downbeat estimates.
Carnival has raised $6. 25bn (£5bn) to stay afloat during the coronavirus crisis but the world's largest cruise operator is paying a high price for the funds.
Investors' focus on Thursday will shift back to the US labour market and the latest weekly jobless claims figures.
The European Commission proposed a wage support programme for the bloc that would be guaranteed by all member states.
Private sector employment eased in the US last month, figures released by consultancy ADP on Wednesday showed, but is expected to fall even further in the coming weeks because of the coronavirus outbreak.
The recent global market recovery will unwind as the impact of Covid-19 increases, the economy slumps into recession and corporate defaults rise, a prominent distressed debt investor has warned.
House price inflation in the US picked up by less than expected at the start of 2020, the results of a closely watched set of surveys revealed.
The Treasury will seek to borrow a record £45bn in April to help fund the government's support for the economy during the Covid-19 crisis.
Rate-setters at the Old Lady of Threadneedle Street warned on Thursday that a "sharp" contraction in economic activity around the globe was likely, alongside a "rapid" rise in unemployment across many economies.
Shares on Wall Street are being called to start the session slightly lower following the release of jobless claims figure that brought the worsening conditions in the US economy and jobs market into stark relief.
Federal Reserve President, Jerome Powell, told US broadcaster NBC that the central bank is not going to "run out of ammunition".
Lawmakers in the euro area's largest economy waved the constitutional brake on debt limits as the country faces off against its hardest challenge since the Second World War.
Sales of newly-built homes ran at a faster-than-expected clip last month.
Top Senate leaders appeared to be getting closer to a deal on a spending package to see the US economy through the coronavirus pandemic, although it remained to be seen if Democracts in the lower house of Congress could be brought onside.
The US Federal Reserve has pledged unlimited purchases of government bonds to support businesses and consumers as the coronavirus crisis threatens economic collapse.