“This is going to be an important test for the market as lots of businesses moved online following the lockdown,” said Andrea Cicione, head of strategy at TS Lombard in London.
Wall Street has recovered more than 30% from its March lows, rescued by official stimulus efforts and, more recently, by signs states were moving to let businesses reopen after a near total halt in activity. Consumer confidence figures for April due later in the day are expected to slide further from near three-year lows hit in March, as widespread production halts put millions of Americans out of work.
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