US equities saw a broad-based advance last week with mega-cap stocks leading the way. The tech-heavy Nasdaq performed best with a 6% gain on the week, pushing it back into positive territory for the year. Despite new evidence of economic contraction and historic unemployment rates, investors chose to focus on potential therapeutic advances in the fight against coronavirus, as well as the steps states were taking to reopen parts of the economy. Shares of energy stocks rose on hopes that relaxed lock down measures will spur demand, and cuts to production caused inventories to rise more slowly.