During the daily virus update press conference, President Donald Trump said his administration will discuss a possible payroll tax cut with the U.S. Senate, saying they would seek "very very substantial relief" for the economy that has been roiled by the outbreak of coronavirus.

Trump, speaking at a White House news conference, added his administration plans to speak with lawmakers on Tuesday, seeking the aid to help hourly wage earners "so they don't get penalized for something that's not their fault."

The president also said he that he plans to announce "very dramatic" actions to support the economy at a press conference on Tuesday.

And just like that WTI is up 4%...

And Dow futures are up over 400 points...

We wouldn't hold our breath however, as we noted previously, the idea that Democrat-controlled Congress would 'help' is beyond a joke and in fact it could corner the President. If he comes asking for a payrolls tax-cut "for the people," Democrats can easily respond "sure, just unwind the corporate tax cuts to pay for it and it's a done deal."