CNBC NEWS

Oil clawing back some of its recent losses .

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I'm kate rooney and this is your cnbc news now.

Stocks rallying after a rough start to the week.

The dow adding 456 points.

The s-and-p up 62.

And the nasdaq gaining 232 points.

Oil clawing back some of it's recent losses.

Crude future contracts for june delivery rose 19-percent -- settling at just under 14-dollars a barrel.

That comes just two days after the may contracts fell into negative territory -- the first time that's ever happened.

Oil demand evaporating in the face of covid-19 - sending crude prices into a tailspin.

Prospective homebuyers are shying away from the market despite record low interest rates.

Total mortgage volume fell fractionally last week.

Volume remained 70 percent higher compared to a year ago.

But that's all thanks to refinance applications which are more than 200 percent higher on a yearly basis.

And delta air lines posting a first-quarter loss after burning through 100 million dollars a day during the coronavirus shutdown.

The slump in travel demand hit the carrier hard in q-1--- causing revenues to sink 18 percent from a year ago.

C-e-o ed bastian warning that second-quarter