Oil prices are sitting out the broad-market rally today, though
Dow Jones Industrial Average (DJI) futures are ready to start the final week of the month with a triple-digit move above fair value this morning. Futures on the Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) are also getting a lift, as optimism builds that parts of the U.S. economy will be phased into reopening soon. New York Governor Andrew Cuomo announced Sunday that the state's construction and manufacturing sectors would be the first to have the lockdown lifted, after coronavirus fatalities hit a one-month low over the weekend. Perhaps the only damper on today's optimism are oil prices, with June-dated crude last seen down 20.8%, at $13.41 per barrel.
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The week starts off slow with no economic data to report. F5 Networks (FFIV) and Keurig Dr Pepper (KDP) will report earnings.
Asian stocks rose on Monday, with the Nikkei leading the charge on a 2.7% pop, following a decision by the Bank of Japan (BoJ) to ease its monetary policy, and keep its short-term interest rate target steady. Elsewhere in the region, the Hong Kong Hang Seng tacked on 1.9%, and the South Korean Kospi rose 1.8%. The Shanghai Composite in China, on the other hand, inched just 0.3% higher, as investors looked at a 34.9% drop in industrial profits for March, per the country's Bureau of Statistics, compared to the 38.3% drop during the first two months of the year.
News that the region is going to start easing up on its lockdown measures has European bourses eyeing sizeable gains midday. The German DAX is 2.7% higher, the French CAC 40 is up 1.9% so far, and the London FTSE 100 is up 1.6%, at last glance.