Stocks jump as more U.S. states prepare to ease lockdown

U.S. stock index futures rose on Monday as more states looked set to ease COVID-19-induced lockdowns, and investors awaited earnings reports from marquee companies including Apple due this week.

Reuters:

ease lockdownA late session rally for tech majors had helped Wall Street end higher on Friday, with sentiment also getting a boost as Georgia became the first state to ease restrictions despite disapproval from President Donald Trump and health experts.

Although trillions of dollars in stimulus have helped the S&P 500 recover nearly 30% from March lows, with the economic damage only growing, analysts say more gains may be limited unless there is progress on treatments for the disease.

White House economic adviser Kevin Hassett told reporters on Sunday the U.S. jobless rate would likely hit 16% or more in April. Against that, many more U.S. states were looking to reopen businesses… “It’s very promising what we are now seeing … including the fact that states in the U.S and countries across Europe are starting to at least plan for the lifting of restrictions,” said Craig Erlam, analyst at OANDA in London.

About 173 companies in the S&P 500 are scheduled to report quarterly earnings this week, including Apple…

MacDailyNews Note: In pre-market trading, Apple is currently up $1.38 (0.49%) to $284.35.

As U.S. states prepare to ease lockdowns, Apple is slated to release Q220 results after market close on Thursday, April 30, 2020. We’ll have them for you as always right around 1:30pm PDT / 4:30pm EDT. Apple’s conference call to discuss Q220 results is scheduled to start right after that at 2:00pm PDT / 5:00pm EDT. We’ll cover the conference call with live notes as usual, too. Just check our home page around 1:45pm PDT / 4:45pm EDT on Thursday, April 30, 2020 for that link.

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