Stocks were set to rip higher to start the holiday-shortened week as a combination of positive headlines eased investor angst after last week’s abysmal March jobs numbers. Though the White House said this week’s COVID-19 deaths could be substantial, the administration struck a more optimistic tone at its press conference on Sunday. Here’s what’s happening:
7:30 am: Dow futures up 700 points, stocks to rally to start holiday-shortened week
U.S. stock futures pointed to gains of more than 3% at the start of trading on the holiday-shortened trading week. Futures contracts tied to the Dow Jones Industrial Average pointed to an opening rally of 800 points, more than 3.5%. S&P 500 an Nasdaq futures also pointed to jumps of nearly 4% by the opening bell. The expected rally to start the day Monday comes after the major stock indexes fell in the prior week after record-breaking unemployment numbers and a whopping payrolls decline of more than 700,000 for the month of March. — Franck
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