Wall Street rises as lockdowns ease, healthcare shares jump

REUTERS: Wall Street's main indexes gained on Tuesday as healthcare stocks rallied, oil prices surged and a number of countries and U.S. states eased coronavirus-induced restrictions in an attempt to revive their economies.

“We are starting to see some states open up, we are starting to see some activity," said Paul Nolte, portfolio manager at Kingsview Investment Management. “We are probably now in the midst of the worst period and things will be gradually improving from here.” Stocks have rebounded sharply since late March from the coronavirus-fueled sell-off, helped by massive monetary and fiscal stimulus. Investors are now watching efforts by a number of states trying to spark their economies by easing restrictions put in place to fight the outbreak.

Data on Tuesday showed the vast U.S. services sector fell into contraction in April for the first time in nearly 10-1/2-years. In corporate news, shares of Norwegian Cruise Line Holdings Ltd tumbled 22.6per cent as the world's third-largest cruise operator raised doubts about its ability to keep running as a business.

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