US STOCKS-Futures climb on oil gains, easing of lockdowns

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* Energy firms rise as oil prices gain
* Apple supplier Skyworks gains on upbeat Q2 results
* Futures up: Dow 1.06%, S&P 500 1.06%, Nasdaq 1.19%

(Adds comments, details, updates price action throughout)
By Medha Singh
May 5 (Reuters) - U.S. stock index futures rose on Tuesday
as oil prices staged a recovery and a slew of countries eased
coronavirus-led restrictions in an attempt to revive their
economies.
Some hard-hit countries including Italy as well as a handful
of U.S. states are tentatively easing stay-at-home orders this
week, raising hopes for a recovery in oil demand that drove
Exxon Mobil Corp XOM.N and Chevron Corp CVX.N about 2%
higher in premarket trading.
Wall Street's main indexes snapped their two-day losing
streak on Monday as gains in large tech and internet companies
and oil prices outweighed concerns about the latest U.S.-China
spat and downbeat sentiment from the annual meeting of Warren
Buffett's Berkshire Hathaway. The S&P 500 .SPX has climbed about 30% from its March lows
on the back of unprecedented stimulus measures and signs of a
plateau in new COVID-19 cases in many areas.
"There's a growing sense that the worst for the global
economy is right now, while lockdowns are in place and
coronavirus treatments are unproven," said Jasper Lawler, head
of research at London Capital Group.
"It follows that it only gets better from here as lockdowns
ease and treatments are found."
However, many market experts have warned that the rally
could be tested amid a risk of another wave of virus infections
and with growing evidence of the damage to the economy and
corporate America.
With more than half of S&P 500 companies reporting so far,
first-quarter earnings are expected to have fallen 12.5%, with
analysts expecting an earnings recession by the second quarter,
according to Refinitiv data.
At 7:27 a.m. ET, Dow e-minis 1YMcv1 were up 250 points, or
1.06%. S&P 500 e-minis EScv1 were up 30 points, or 1.06% and
Nasdaq 100 e-minis NQcv1 were up 104.75 points, or 1.19%.
Apple supplier Skyworks Solutions SWKS.O gained 1.5% after
reporting upbeat quarterly results but warned of a hit from the
pandemic in the current quarter. L Brands Inc LB.N plunged 8.4% after the company called
off the sale of its majority stake in Victoria's Secret lingerie
business to buyout firm Sycamore. Pfizer rose about 3% after it announced that its venture
with German partner had started delivering doses of its
experimental coronavirus vaccines for human testing in the
United States. On the economic calendar, ISM's survey of the
non-manufacturing sector is due for release at 10 a.m. ET.