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Stocks rise as investors anticipate reopening plans

2 years 2 weeks 4 days ago Monday, April 27 2020 Apr 27, 2020 April 27, 2020 9:37 AM April 27, 2020 in News
Source: Yahoo News

Stocks advanced Monday as investors considered a variety of state plans to slowly roll back social distancing measures. 

U.S. crude oil prices renewed their slump after four straight sessions of gains.

Shortly after market open, the Nasdaq composite rose above 8,700 for its highest level since early March. 

The Dow broke above its 50-day moving average for the first time since February 21.

In the past week, most of them in the South, announced that certain businesses and public spaces would reopen on a limited basis as the beginning of a multi-phase process to reopen the local economy. 

The decisions were met with criticism from some business owners, epidemiologists and politicians who felt the reopenings – coming as the domestic death toll in the U.S. topped 50,000 – were premature.

Though recent data suggests the outbreak may be leveling off, some

experts remain deeply concerned about the possiblity of a resurgence in cases as social distancing measures ease. 

Meanwhile, those in the country's economic sector will be anxiously awaiting indications of the U.S.'s path forward into a gradual nation-wide reopening of businesses while simultaneously analyzing economic reports that clarify the impact of the damage the pandemic has had on the nation's economy. 

Investors will receive the first print of first-quarter U.S. gross domestic product, and hear from the Federal Reserve for its latest monetary policy decision on the heels of the central bank’s onslaught of relief measures unleashed over the past month to help businesses and households cope with fallout from pandemic.

Alphabet (GOOGL), Boeing (BA), Facebook (FB), Microsoft (MSFT), Tesla (TSLA), Amazon (AMZN) and Apple (AAPL) are among the many companies slated to report corporate earnings results this week.

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