The Early signs of a slowdown in corona-virus cases in USA , Wall Street was set to resume a strong rally on Tuesday.
U.S. stock index futures hit a near one-month high in early trading, a day after the three major indexes jumped more than 7% as the governors of New York and New Jersey said their states were showing tentative signs of a "flattening" of the virus outbreak.
Louisiana Governor John Bel Edwards said later on Monday new hospital admissions were trending down in his state, also among the hardest hit in the United States, where the nationwide death toll has approached 11,000.
Despite Monday's bounce, the S&P 500 remains more than 21% below its mid-February record closing high, and investors fear reports of more production cuts and staff furloughs amid prolonged stay-at-home orders.
Wall Street's fear gauge has steadily retreated from 12-year peaks, but volatility is expected to remain high as companies prepare to report an expected slide in first-quarter earnings and outline plans to bolster cash reserves.
Investors warming to the idea that world's main oil producers will agree to cut output at a meeting on Thursday in the wake of a dramatic fall in prices caused by the corona-virus outbreak.
Russia on Tuesday confirmed its participation in the meeting of leading oil producers set for April 9, joining Saudi Arabia and the rest of the OPEC members. That's set to be followed on Friday by a meeting of G20 energy ministers, which will include representatives of two other large producers outside the OPEC+ bloc, Canada and Brazil, in addition to the U.S.
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