Two days of ice and fire! Oil prices plunged more than 24%, and U.S. stocks rose across the board.
China Securities Net News of the Shanghai Securities News reported that the US stock market closed up 27 days after the US economy reopened, and the three major indexes rose by 1% on the same day. Shares traded on Tesla on the same day, and shares rose more than 10%. However, some market participants have warned that US stocks may continue to test the March lows.
As of 27, the Dow rose 358.51 points to 24133.78 points, or 1.51%. The S & P 500 index rose 1.47%, at 2878.48 points, and the NASDAQ rose 1.11% to 8730.16 points.
On the plate side, the eleven major sectors of the S & P 500 index rose. Among them, the financial sector rose by 3.61%, leading all sectors, and the real estate sector and material sectors ranked 3% and 2.54% respectively; the consumption of the necessary consumer goods rose the smallest and rose 1.12% on that day.
Technology stocks split, Tesla trading active, the day rose 10.15% to 798.75 U.S. dollars, with a total market capitalization of nearly 147 billion dollars. Apple Rose 0.07%, Amazon fell 1%, and Microsoft also fell slightly.
Although market participants are optimistic about the re opening of the US economy, Jeffrey Gundlach, the founder of the dual line capital, has a pessimistic expectation of the performance of the stock market. He believes that investors may underestimate the extent of the epidemic's damage to the US economy. At least from the employment data, nearly 26 million people have lost employment opportunities, and the US stock market is still likely to fall back to its lows in March.
The performance of the crude oil market also worries investors. New York's oil price plummeted on the 27 day when the inventory capacity was about to be filled. The New York Stock Exchange's light crude oil futures in June fell $4.16, or 24.56%, at $12.78 a barrel. Brent crude oil futures for June delivery fell 1.45 US dollars to close at $19.99 a barrel, or 6.76%.
Jeff Corey, head of commodities research at Goldman Sachs, had predicted that the global crude oil inventory will soon reach its ceiling in the next 3 to 4 weeks. Investors may need to pay for the sale of crude oil, which will affect the stability of the global crude oil and financial markets, which is more negative than the previous WTI crude oil contract in May.
Gold prices fell 27 days after investor risk appetite picked up. The gold futures market of the NYSE traded the most active gold futures in June, falling 27 US dollars to 11.8 US dollars, or 0.68% at 1723.8 US dollars per ounce. (Tang Cuiling)
Reporters learned from a number of agencies that if the US crude oil data do not change much in the next few weeks, the remaining capacity will only last 75 days. This means that at the latest of July, there will be no more storage tanks in the US for storage of crude oil, resulting in a negative future oil market price.