It’s been a volatile morning, but stocks are sharply higher around midday.

All three major US indexes advanced as President Donald Trump, Treasury Secretary Steven Mnuchin and Vice President Mike Pence gave a televised briefing, outlining the steps the administration is taking to mitigate the fallout from the coronavirus outbreak.

Mnuchin is expected to outline a $830 billion stimulus package with Senate Republicans later today.

“We’re looking at sending checks to Americans immediately,” Treasury Secretary Steven Mnuchin told reporters at the White House.

“I think it’s clear we don’t need to send people who make a million dollars a year checks. But we like — that’s one of the ideas we like. We’re going to preview that today and then we’ll be talking about details afterwards,” Mnuchin said.

The new measures will also include up to 90-day deferrals of IRS tax payments up to $1 million.

Mnuchin also said the stock market will remain open despite the recent volatility, although he said its hours could be shortened if needed. «Americans should know that we are going to do everything to make sure they have access to their money at their banks, to the money in their 401(k)s, and to the money in stocks,» Mnuchin added.