Since bottoming on March 23, the S&P 500 index has rallied by nearly 30%, a big upward swing considering the grim unemployment numbers. Why is the market rallying?
The month of May begins what can be a ho-hum period for stocks.
3M, Apple and Amazon will dominate the week's earnings.
The Houston-based contract driller said it sought chapter 11 protection after the downturn in the offshore-drilling industry "worsened precipitously" because of the oil-price war between the OPEC countries and Russia along with the COVID-19 pandemic.
Earnings from IBM and Netflix will be in focus this week.
The Energy Department initiated a plan to lease space as a way to help companies suffering from the oil price plunge and after Congress failed to fund another plan to purchase oil for the facility.
Iran demanded on Wednesday that U.S. oil production levels must be known before an upcoming OPEC meeting with Russia.
Stocks rallied Monday as COVID-19 showed signs of leveling off in New York City.
Energy Secretary Dan Brouillette said he's looking into reserving up to 1 billion barrels of oil at the direction of President Trump.
As the COVID-19 pandemic continues, President Trump says tariffs on oil imports may happen for American energy worker protection.
Whiting Petroleum Corp said on Wednesday it filed for Chapter 11 bankruptcy, the first major casualty of a free fall in crude prices to $20 per barrel last month.
The Dow's upward momentum continued adding onto its best week since 1938.
WTI futures for May delivery fell 6.6 percent to $19.92 a barrel.
The economic slowdown caused by the COVID-19 pandemic will result in a sharp drop in dividends paid by S&P 500 companies, according to Goldman Sachs.
Corporate America is stepping up in the coronavirus fight to ease financial stains on individuals.
Stocks clawed back despite unemployment claims surging by 3.28 million last week.
The VanEck Vectors Gold Miners Exchange-Traded Fund has fallen 10.14 percent in 2020, significantly lagging the 7.4 percent gain in the price of gold.
U.S. shale companies were pummeled this month by oil prices that tumbled as much as 63 percent from March 9 when Saudi Arabia slashed prices for its customers and lowered production in response to Russia's refusal to join OPEC in deepening output cuts.
Jobless claims are expected to surge to 1 million last week, with estimates running as high as 4 million
Airlines, hotels, casinos, advertising and restaurants have seen drops from all-time highs ranging from a 29 percent fall by restaurants to a 69 percent plunge for casinos and gaming.