US stocks opened sharply on Tuesday, the Dow Jones Industrial Average rose more than 400 points, but in the late hours, the broader market narrowed its gains, and the Dow rose more than 133 points, or 0.56%. The reason for the late dive is that the Fed Vice Chairman said in an interview with US financial media CNBC that the US economy may need more financial and monetary support, which has caused the market to have more concerns about the economic outlook. In addition, the S & P 500 index rose 0.9%, and the Nasdaq composite index rose 1.13%.

One piece of good news that boosts market sentiment is that the pharmaceutical company Pfizer has revealed that the vaccine against the new coronavirus has entered the human trial stage. Pfizer said it is working with German pharmaceutical manufacturer BioNTech, and the first batch of American volunteers has been vaccinated with an experimental vaccine.

The U.S. economy restarts in many places

On Tuesday as a whole, the main support for market sentiment is still that the United States gradually began to restart the economy. California Governor Newsom said on Monday that starting this Friday, some California retailers will be allowed to provide "in-store pickup" services. On the corporate side, Starbucks said it will reopen more than 85% of stores in the United States within this week, and expects to restore 90% of Starbucks stores in the United States in early June. The car company Fiat Chrysler said that it will resume production in North America within two weeks.

The hope of an economic restart has also caused oil prices to soar. On Tuesday, oil prices have completed the fifth consecutive day of "five consecutive days" trend, creating the longest consecutive days since July last year. At 2:30 p.m. EDT on the 5th (2:30 a.m. Beijing time) at the close of crude oil trading, the price of West Texas light crude oil futures delivered in June rose by 20.45%, and the price of London Brent crude oil futures It rose by 13.86% to close above $ 30 per barrel. President Trump tweeted in the early morning Tuesday, "As demand returns again, oil prices are trending well!" Energy analyst Michael Tran said in a report on Tuesday that there is no doubt that the global economy has reopened to open economy This is to inject a certain degree of "cautious optimism" into the crude oil market. We have reason to believe that the most serious imbalance between supply and demand is over. He believes that US demand is starting to pick up, especially for gasoline. We see that Teran used the term "cautious optimism". Indeed, after experiencing negative oil prices in front-end time, investors in the energy market still dare not relax their vigilance. Even if demand is slowly boosted, if the global oil storage space is still filled, this will cause the oil price to plummet again. Some traders said that the imbalance between supply and demand has not been resolved. He will still be very cautious in the short term, but prices will rebound slowly in the long run.

Many companies face financial challenges AirBnB layoffs 25%

However, we still see negative news that some companies are struggling because of the epidemic. Including Norwegian Cruise Line said that due to the severe damage to the industry caused by the new coronary pneumonia epidemic, the company had "great doubts" about its ability to continue operations and warned that it might apply for bankruptcy protection. In addition, United stated that layoffs will continue. The company plans to lay off 30% of its management by the end of October. Also on Tuesday, Disney ’s financial report showed that operating income from parks and cruise ships fell 58%, making it the hardest hit business. At the same time, the bad news also came from the sharing economy giant Airbnb, the company said it was laying off staff, the range reached 25%, and the company announced that this year's annual revenue decline will exceed 50%.