US STOCKS-Wall St set to open higher on lockdown easing optimism

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* Activision Blizzard jumps after raising 2020 forecast
* CVS rises as profit beats on coronavirus-led stockpiling
* GM jumps on Q1 profit beat, sets N. American restart
* Futures up: Dow 0.43%, S&P 500 0.43%, Nasdaq 0.54%

(Adds comments, background, updates prices)
By Shreyashi Sanyal and Medha Singh
May 6 (Reuters) - U.S. stock indexes were set to open higher
on Wednesday on hopes of a pickup in business activity with
states easing coronavirus-led curbs, while investors looked past
a stunning 20 million plunge in U.S. private payrolls last
month.
After slumping to 2016-lows in March, the benchmark S&P 500
rebounded strongly in April on unprecedented stimulus and signs
the outbreak was peaking.
But with macroeconomic data still foreshadowing a severe
global recession, analysts have warned of another selloff,
particularly if reopening economies sparks another wave of
infections.
Data on Wednesday showed U.S. private employers laid off a
record 20.236 million workers in April, setting up the overall
labor market for historic job losses last month. The Labor
Department's more comprehensive report is due Friday.
"We knew this was going to be bad so it matches the jobless
claims. A lot of the bad news for April is pretty much factored
in," said Scott Brown, chief economist at Raymond James in St.
Petersburg, Florida.
"But markets are looking at potential recovery here, we've
got a lot of States opening up. Businesses are starting to get
going again but the question is, is it too fast?"
At 8:38 a.m. ET, Dow e-minis 1YMcv1 were up 102 points, or
0.43%, S&P 500 e-minis EScv1 were up 12.25 points, or 0.43%
and Nasdaq 100 e-minis NQcv1 were up 48 points, or 0.54%.
General Motors Co GM.N jumped 6.5% in premarket trading
after the automaker topped first-quarter profit expectations and
outlined plans for a May 18 restart of most of its North
American plants. CVS Health Corp CVS.N gained 4% after the company posted
better-than-expected first-quarter profit, as its pharmacy
benefits management business and its drugstores benefited from
customers stockpiling medicines due to COVID-19 lockdowns.
Activision Blizzard ATVI.O rose 6.8% after raising its
revenue forecast on higher demand for video games such as its
"Call of Duty" amid lockdowns. Walt Disney Co DIS.N also inched higher even as it
estimated that global measures to contain the coronavirus had
cut its profits by $1.4 billion, mostly from its shuttered theme
parks. Mattel Inc MAT.O plunged 7.7% after the toymaker predicted
a steep drop in second-quarter sales.