The market is reacting to the fact that states and business' are starting to open, people will have the opportunity to go back to work, and the economic engine will begin again.
Pretty sure the markets are also concluding that the "hair on fire, world is gonna end" news has been over played and politically driven. We have close to 12,500 hospital beds in Wisconsin and ~350 covid patients in them. Wisconsin spent $24 million to put up an additional 600 bed overflow hospital at State Fair park, plus 100's more overflow beds in Madison, so far none of those beds have been used.
You can only cry wolf for so long ...