U.S. stocks are on track to open on Wednesday after President Donald Trump announced a $4.9 billion plan to sell all of its Wood Medicine cabinets.
The move will save the federal government $4,000 per ton of wood products.
The cabinet program is designed to ease the burden on the country’s timber industry, which is in dire straits due to an epidemic of cold-related illness and death.
The White House announcement came on Wednesday morning as stocks soared and markets had already fallen sharply in the wake of the announcement.
The Dow Jones industrial average was up nearly 1 percent in early trading.
The S&P 500 added 0.4 percent, the Nasdaq composite index gained 0.3 percent and the Russell 2000 index jumped 0.2 percent.
The U.K.’s FTSE 250 index rose 2.4 points to 6,542.
The broader Russell 2000 rose 1.4.
In the U. S., the Dow Jones Industrial Average gained 13.9 points to 24,890, while the S&am added 3.9.
The Russell 2000 is up nearly 11 percent over the past year.
The FTSI 500 index was up 2.6 points to 8,918.
Russell 2000 and Russell indexes are the two main indexes used by the S.&!&.;M.
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