US Treasury Sec. Mnuchin: Fed programs are loans not grants

They will be discussing options with the Federal Reserve to provide support to companies that don't fit into new loan facilities announced earlier in the day, US Treasury Secretary Mnuchin told CNBC on Thursday. Mnuchin further clarified that the new Fed programs are loans rather than grants.

"As soon as President Trump feels comfortable, American companies can reopen for business," Mnuchin added. "President is happy to talk about hospitals, state finances in next aid bill, not supplemental request for $250 billion."

Market reaction

Wall Street's main indexes started the day in the positive territory on Thursday with the Dow Jones Industrial Average and the S&P 500 both adding more than 1%.