By Julia Horowitz, CNN Enterprise(CNN) — Buyers are getting pummeled with grim financial knowledge from March and April. Though it does not look fairly, shares are largely standing their floor.The newest: With a lot of the world on lockdown, measures that chart financial exercise are repeatedly hitting their lowest ranges on report. Even so, stock market volatility is at half its peak in mid-March, and inflows to top-rated US company bond funds continued final week.This is sensible given that the majority markets flip earlier than recessions finish, in line with John Normand, the pinnacle of cross-asset basic technique at JPMorgan. “The main focus must be extra on the return to progress than the contraction within the financial system,” he instructed me.That does not imply totally different asset courses will all recuperate on the similar velocity. US credit score markets usually tend to observe a “V” trajectory given the Federal Reserve’s determination to step in and purchase company bonds, Normand noticed. Shares, he mentioned, may take longer to snap again — although additionally they profit from the Fed’s actions, which have helped loosen monetary circumstances. Normand thinks the S&P 500 will finish the yr increased.Oil is clearly on a unique path. Final week, US oil futures settled in detrimental territory for the primary time ever, indicating that merchants had been successfully paying folks to take American crude off their fingers due to considerations they’d have nowhere to retailer it.Volatility within the oil market may proceed for the following two months however might ease by the summer season, as manufacturing cuts by OPEC take maintain and a few financial exercise resumes, Normand mentioned. Costs may then push again as much as the $30-to-$40-per-barrel vary —however they will not return to pre-crisis ranges any time quickly.What it means: There are many lingering dangers to markets, together with the menace that progress will not decide up as a lot as anticipated as soon as lockdowns finish, and the possibility that infections may surge as soon as folks begin leaving their houses, Normand mentioned. However many traders are already seeking to the second half of the yr and past.This backdrop may cushion the blow from bleak first-quarter GDP knowledge due this week. Economists on common assume that the US financial system shrunk at an annualized fee of 4% between January and March, its worst quarter in additional than a decade. Europe’s financial system is predicted to have contracted at an annualized fee of three.4%.The second quarter is poised to be a lot worse, Andrew Hunter, senior US economist at Capital Economics, reminded purchasers on Friday. The analysis agency expects US financial system to contract at a fee of 40% between April and June.The largest American firms report earnings this weekIt’s an enormous week for company earnings, with 34% of the S&P 500 because of report for the January to March interval.Low expectations: FactSet initiatives that S&P 500 earnings will decline by almost 16% for the quarter, which might be the biggest year-over-year decline for the reason that second quarter of 2009.However the greatest US firms will share outcomes this coming week, together with Microsoft, Alphabet, Amazon, Apple and Fb.These tech giants have weathered the Covid-19 storm higher than most — significantly Amazon, whose shares are up almost 30% this yr as on-line deliveries soar, and Microsoft, whose stock has risen 9%, partly due to the continuing want for cloud providers.Apple is below extra stress due to provide chain points and decrease demand for nonessential merchandise — a class that doubtless contains iPhones. Daniel Ives, an analyst at Wedbush Securities, mentioned a key query for CEO Tim Prepare dinner shall be any clues across the launch of Apple’s 5G telephones, which he mentioned are anticipated to drive income over the following 12 to 18 months.These traders who declare the primary quarter is outdated information will nonetheless have loads to study from this week. Corporations with heavy publicity to China — together with Caterpillar, 3M and Starbucks — are additionally on the docket, shining a lightweight on how shutdowns within the nation affected their companies.Up nextMonday: Adidas, Restaurant Manufacturers and Keurig Dr. Pepper earningsTuesday: Financial institution of Japan assembly; US shopper confidence; 3M, BP, Caterpillar, Harley-Davidson, Merck, PepsiCo, Pfizer, UBS, UPS, Xerox, Alphabet, Ford, Starbucks and Yum China earningsWednesday: US first-quarter GDP; Europe enterprise confidence; Federal Reserve assembly; Boeing, Dine Manufacturers, GE, Hasbro, Mastercard, Yum Manufacturers, Fb, Microsoft, Qualcomm, Samsung, Volkswagen, Deutsche Financial institution, Airbus and Tesla earningsThursday: Europe first-quarter GDP; European Central Financial institution rate of interest determination; US preliminary unemployment claims; American Airways, ConocoPhillips, Comcast, Dunkin, Kellogg, Kraft Heinz, McDonald’s, Molson Coors, Royal Dutch Shell, Twitter, Amazon, Apple and Visa earningsFriday: US auto gross sales; ISM Manufacturing Index; Chevron, ExxonMobil and Honeywell earningsThe-CNN-Wire™ & © 2020 Cable Information Community, Inc., a WarnerMedia Firm. All rights reserved.