US stocks mixed as investors hit pause on Monday's rally

Traders work on the floor of the New York Stock Exchange (NYSE) on November 20, 2019 in New York CitySpencer Platt/Getty ImagesTraders work on the floor of the New York Stock Exchange (NYSE) on November 20, 2019 in New York City


US stocks were mixed on Tuesday after a rally on Monday that saw the S&P 500 post its strongest daily gain since June, as the full reopening of the US economy seemed within reach. 

US daily coronavirus cases are falling and on track to be below 40,000 this week after a slight surge last week, according to Fundstrat data. This positive news, along with falling volatility and rising bond prices, likely led Monday’s rally that investors are hoping to continue on Tuesday.

Here’s where US indexes stood after the 9:30 a.m. ET open on Tuesday:

US and European markets are racing ahead of their real economies, potentially creating bubbles that could pop, China’s banking regulator has warned.  Guo Shuqing, chair of the China Banking and Insurance Regulatory Commission, said US and European markets are racing ahead of their real economies, potentially creating bubbles that could pop. 

Zoom jumped 9% after the video platform beat earnings estimates and forecasted strong growth. The company’s revenue forecast for the coming year was above Wall Street expectations.

Bitcoin traded above $US48,000 ($61,544) after briefly climbing back above $US50,000 ($64,109) for the first time in six days. 

Oil prices were higher. West Texas Intermediate crude jumped as much as 0.54%, to $US61 ($78) per barrel. Brent crude, oil’s international benchmark, rose by 0.44%, to $US63.96 ($82) per barrel.

Gold jumped 0.16%%, to $US1,726.20 ($2,213) per ounce. 

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