Stocks rose on optimism that a reopening of the economy is coming, but there are concerns opening too soon could result in a new outbreak.
Stocks were higher as government officials begin to discuss how they would roll back shutdown orders, something that would have a profound impact on the economy and corporate profits.
Stocks were higher on optimism the number of new virus cases are leveling and a reopening of the economy is on the horizon. However, there's fear that an early opening could result in a renewed outbreak and that could be a setback, leading to a fresh market sell-off and another economic clampdown. But too slow a return also threatens deeper economic damage and more business failures.
Closely followed by markets, Dr. Anthony Fauci, director of allergy and infectious diseases at the National Institute of Health, says May 1 may be overly optimistic.on the company's earnings call that he hoped workers could return to work in June, July or August, but it "won't be May." Stocks bounced higher Tuesday, with the S&P 500 up nearly 2.7% Tuesday and more than 20% from its March 23 low.
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