Stocks open higher, Dow and Nasdaq both up 1.1%

Stocks open higher, Dow and Nasdaq both up 1.1%

Stocks open higher, Dow and Nasdaq both up 1.1%

Hong Kong's Hang Seng added 0.7% to 23,907.52, while the Shanghai Composite jumped 1.7% to 2,814.09.

Sanders' embrace of a Medicare for all healthcare policy would have essentially abolished private insurance and had cast a shadow on healthcare stocks for months. Governor Andrew Cuomo said NY, the epicenter of the virus in the United States, was nearing a plateau in the number of patients hospitalized.

Sentiment also got a lift as Democratic leaders in Congress threw their support behind interim emergency funding, a day after the Trump administration asked lawmakers for $250bn in aid for small businesses hit by the pandemic.

Norwegian Cruise Line, Royal Caribbean and Carnival Corp, among the most heavily battered stocks this year due to a near halt in global tourism, rose between 15 per cent and 18 per cent on news that Saudi Arabia took a stake in the latter at its now reduced price.

"I'd like to think that the bottom has been put in, but we can't say for sure".

The S&P 500 ended down.16% during trading Tuesday, after earlier being up as much as 3.5%.

Tesla Inc on Tuesday became the latest US company to furlough staff and cut salaries during a shut down of its USA production facilities.

"We have taken on Wall Street, the insurance companies, the drug companies, the fossil fuel companies, the military industrial complex, the prison industrial complex and the greed of the entire corporate elite", said Sanders. The market's gains faded as the price of USA crude oil abruptly flipped from a gain to a steep loss of more than 9%.

Wall Street's fear gauge has steadily retreated from 12-year peaks in recent days, but volatility is expected to remain elevated as companies prepare to report an expected slide in first-quarter earnings and outline more drastic plans to bolster cash reserves.

"Investors are bracing themselves for a bad earnings season and are going to try to look for clues on what businesses will see more normalized operations", said Yung-Yu Ma, chief strategy officer at BMO Wealth Management in Portland.

Advancing issues outnumbered declining ones on the NYSE by a 2.71-to-1 ratio; on Nasdaq, a 1.30-to-1 ratio favored advancers.

Earlier Monday, oil prices fell again as Russian Federation and Saudi Arabia negotiate reducing production to stabilize the market.

Early gains in the US helped push MSCI's index of global equities up 0.69% after a broad rally in Japan and modest declines in Europe.

The Japanese yen strengthened 0.39% versus the greenback at 108.83 per dollar, while Sterling was last trading at $1.2337, up 0.88% on the day.

The number of new coronavirus cases is dropping in the European hotspots of Italy and Spain.

Hospitalizations for COVID-19, the disease caused by the new coronavirus, seemed to be leveling off in NY state, but deaths across the United States jumped by a record of more than 1,800.

In the USA, the White House is seeking an additional $250 billion for a program to help small businesses, which was part of the $2.2 trillion rescue package Congress approved last month.

Benchmark 10-year notes last fell 16/32 in price to yield 0.728%, from 0.678% late on Monday.

Exxon and Halliburton shares jumped 5.4 per cent and 6.3 per cent, respectively, also tracking a surge in oil prices amid hopes the world's main oil producers would agree to cut output at a meeting on Thursday.

But investors still aren't convinced about a deal, and benchmark USA crude oil fell $2.45, or 9.4%, to settle at $23.63 per barrel.

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