Earnings Report

Halliburton reported a $1 billion loss in the first quarter and warned of bleak conditions in the year ahead.

Investor optimism is on the rise for US equities as coronavirus cases stabilize.

The automaker earlier this week said it sees first-quarter revenue of about $34 billion and adjusted losses before interest and taxes of $600 million as it seeks to conserve cash.

Many of the company's products, including Bounty paper towels, Charmin toilet paper, Pampers diapers and Tampax tampons, have been in demand across U.S. supermarkets in the past few weeks.

The Houston-based oil services provider lost $5.32 a share as revenue fell 5 percent year-over-year to $7.5 billion.

The Labor Department reported Initial jobless claims totaling 5.25 million for the week through April 11.

In January, just before the virus started spreading around the world, Morgan Stanley boosted its performance targets and set new goals for cost-cutting.

Abbott Laboratories reported earnings of 31 cents a share on net revenue of $7.73 billion.

Morgan Stanley is the smallest of the six major U.S. banks with few true peers in the bunch, which has left some investors unsure how it will fare in a coronavirus downturn.

Retail sales fell 8.7 percent and the Empire State Manufacturing Survey hit a record low.

The lender, the most global of the U.S. banks, said net income fell to $2.52 billion, or $1.05 per share, in the first quarter.

Goldman Sachs reported a 49 percent drop in quarterly profit.

The buildout in so-called reserves helped drag net income down 45 percent to $4 billion, or 40 cents a share, in the three months through March.

Premiums rose 6.6% to $50.64 billion, just shy of the FactSet consensus of $50.70 billion, while products revenue increased 4.4% to $8.43 billion

Wall Street analysts predict S&P 500 earnings will tumble 9 percent from a year ago, the first quarterly decline since the financial crisis.

The fourth-largest U.S. lender's quarterly profit fell to $42 million, or 1 penny per share, from  $5.51 billion, or $1.20 per share, a year earlier.

JPMorgan Chase and Wells Fargo will report quarterly earnings on Monday

Tech stocks led a turnaround for the Nasdaq on Monday.

Commercial real estate loans will be in focus when banks report their first-quarter results.

Stocks rallied Wednesday as COVID-19 showed signs of plateauing in some of the hardest hit areas.