- While bickering between Washington and Beijing triggered early selling on Monday, oil's longest run of gains in nine months and reopenings of the economy are helping boost sentiment.
- "May, June will be the turning point in terms of restarting global economic activity, and that's really what the market is looking at," said Stefan Hofer, chief investment strategist at LGT Bank Asia.
- U.S. stock index futures are ahead by 1%, while crude is up almost 10% to $22.38/bbl. A ruling from Germany's top court on bond buying was also seen "not restricting the ECB too much."
- Later today, traders will digest a slew of U.S. economic reports, including the trade deficit and PMIs, as well as closely watched earnings from Disney.