US STOCKS-Wall Street set to bounce after historic oil rout

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* Texas Instruments rises on upbeat Q1 results
* Netflix doubles expected signups on stay-at-home orders
* Chipotle jumps as online sales help amid pandemic
* Futures rise: Dow 1.70%, S&P 500 1.73%, Nasdaq 1.60%

(Adds comments, updates price action throughout)
By C Nivedita and Shreyashi Sanyal
April 22 (Reuters) - Wall Street looked set to rebound on
Wednesday as upbeat quarterly earnings reports lifted investor
sentiment following a two-day selloff due to a record crash in
oil prices, although companies warned of more pain in the coming
months.
The S&P 500 index .SPX fell nearly 5% in the first two
days of the week as May WTI contracts plunged below zero and the
benchmark Brent LCOc1 hovered near 1999-lows, triggering alarm
about the hit to the global economy from a near-halt in business
activity.
Battered oil stocks attempted a comeback on Wednesday with
Exxon Mobil XOM.N rising 3.8% and Chevron Corp CVX.N gaining
3.5% before the bell as oil prices gained slightly. O/R
Trillions of dollars in stimulus have helped Wall Street
recover from its March lows. The U.S. Senate on Tuesday approved
another $484 billion in relief and the House of Representatives
is expected to clear it on Thursday. But the benchmark S&P 500 was still 19% below its record
high as sweeping shutdowns spark layoffs and crush consumer
spending, putting several sectors at the risk of collapse.
"Investors are looking at the economy very differently than
they are looking at markets," said Paul Nolte, portfolio manager
at Kingsview Asset Management in Chicago.
"The market is getting a lot of support from the Federal
Reserve and the government. The economy is getting some, but the
economy is going to move at a different pace."
Estimates for U.S. jobless claims for the latest week range
as high as 5.5 million, while a reading on April U.S. factory
activity is likely to fall to levels last seen during the 2008
financial crisis. Both reports are due Thursday.
At 8:58 a.m. ET, Dow e-minis 1YMcv1 were up 389 points, or
1.7%, S&P 500 e-minis EScv1 were up 47.25 points, or 1.73% and
Nasdaq 100 e-minis NQcv1 were up 135 points, or 1.6%.
Texas Instruments Inc TXN.O rose 2.5% as the chip industry
bellwether reported better-than-expected first-quarter results
and said a strong inventory allowed it to be prepared for
disruptions caused by the pandemic. Netflix Inc NFLX.O , deemed a "stay-at-home" stock as the
wide restrictions boost demand for online streaming services,
more than doubled its own projections for new customers in the
first quarter.
However, its shares fell 1.6% as it forecast a weaker second
half if the lockdown measures were to be lifted. Delta Air Lines Inc DAL.N reported its first quarterly
loss in nine years, but shares gained 3.5% after the airline
operator said cheap fuel and cost reduction measures will cut
its expenses by about half in the current quarter.