On Wall Street, all the three key indices gained over 1 percent yesterday, at the onset of a hectic earnings week, as investors turned hopeful on several US states that are relaxing shutdown restrictions put in place to curb the spread of the COVID-19 pandemic.

Economists expect first-quarter US GDP to have shrunk at a 4 percent annualized rate, when the Commerce Department releases its report tomorrow.

Market participants will also pay close attention to the US Federal Reserve when it concludes its monetary policy meeting tomorrow.

So the Dow Jones Industrial Average surged 359 points, or 1.5 percent, to end at 24,134. The S&P 500 climbed 42 points, or 1.5 percent, to close at 2,878. And the Nasdaq Composite added 96 points, to 8,730.

Analysts expect first-quarter S&P 500 earnings to have fallen 15%, according to Refinitiv data.