Manufacturing strong, labor market tight

On Tuesday, the three major U.S. stock indexes rose first and then declined, closing in mixed results, with a range around 0.1%.

The data showed that the manufacturing industry of the world's major economies improved, the OECD raised its global growth forecast for this year and next, and both domestic and oversea stock markets generally rose. The U.S. ISM manufacturing index not only reflects strong demand for orders and an increase in factory activity, but also shows that supply shortages are severe. U.S. manufacturers have been waiting for the delivery cycle of raw materials for the longest time since 1987. On the other hand, the labor market is also extremely tight, Friday's employment data is also more concerned. Markets fear this will lead to higher prices, forcing the Fed to raise rates earlier and taper the asset purchases. Economic cyclical stocks such as energy and raw materials led the gains. A recovery in Treasury bond prices weighed on growth stocks.

OPEC and other major producers agreed to slowly ease oil supply, which is expected to tighten the supply. The International Energy Agency said oil demand could return to pre-pandemic levels within a year. International oil prices hit a two-year high. The energy sector is the best performing sector, rose nearly 4%.

40 states in the United States have reopened, and the number of new virus infections has continued to decline. During the long weekend holiday, air traffic hit the highest level since the pandemic. driving aviation, cruise, entertainment sectors and other restarted stocks rise.

Slowly, everything is returning to normal.