US Bureau of Economic Analysis (BEA) published Q1 2020 GDP with -4.8% that was first negative since 2014.
However, stock markets cheers up with this number with another 500+ in DJIA and +3.6% Nasdaq gains. This is based on more than 30% rally since March 23 bottom.
In the past 4-5 weeks, any negative economic news like initial jobless claim, job report. retail sales, consumer confidence, and including negative GDP, stock market all reacted as super bullish news and jump up on all indexes.
Perhaps, bullish bias counts into consideration of optimistic outlook. It is weird and unusual. We have to follow up to see what is reality in the next 1-2 months.