Market Overview

U. S. stocks hit an all-time high last night as strong economic data further strengthened expectations of an economic recovery. Yields on the dollar and Treasuries fell, while crude oil fell. Most of the major sectors of the S & P 500 rose, pushing the index to an all-time high. Alphabet Inc-CL C and Tesla, Inc. pushed the Nasdaq 100th index up 2 per cent.

In addition, U.S. Treasury Secretary Yellen on Monday advocated setting the world's lowest corporate tax rate for multinationals and seeking international cooperation, which is crucial to financing the Biden administration's $2.3 trillion infrastructure program.

Since Trump's tax reform slashed corporate tax rates from 35 per cent to 21 per cent below the international average of 24 per cent in 2017, a number of countries have cut tax rates to attract multinationals. Ms Yellen said the world's minimum corporate tax would ensure a more level playing field and help stimulate innovation, growth and prosperity.

As of press time, the three major stock index futures fell before trading, with Dow futures down 0.15%, Nasdaq futures down 0.25%, and S & P 500 index futures down 0.23%.

China listed stock

• Some popular Chinese stocks rose before the day, with Niu Technologies up more than 3% and JinkoSolar Holding Co Ltd up more than 2%.

Before Tuesday's trading, Niu Technologies rose more than 3%, JinkoSolar Holding Co Ltd rose more than 2%, iQIYI, Inc., NIO Inc., Li Auto Inc., who learned from, BABA all followed.

According to news, Niu Technologies sold 149649 electric vehicles in the first quarter of 2021, an increase of 272.6% over the same period last year. Sales in the Chinese market reached 144654, up 321.5% from the same period last year. Sales in the international market reached 4995, down 14.5% from the same period last year.

According to media reports, it has been learned from Taobao that in BABA's 2021 fiscal year (April 2020 to March 2021), the number of new active merchants on Taobao reached the highest level in five fiscal years since 2017. Since 2017, the number of active merchants on Taobao has been on the rise. Especially in the months after March 2020, the digital transformation of business revived after the epidemic led to a new wave of "shopping", when an average of 40,000 new stores were opened every day.

According to Daily Journal Corp. According to the 13F document, the company built a new position in BABA shares in the first quarter of 2021 and held 165320 shares at the end of March, with a market capitalization of about $37.5 million at the time.

• PSAC rose by more than 13% before trading. FF submitted listing documents to the US Securities Regulatory Commission and landed on NASDAQ as soon as May.

On April 5, US time, Faraday Future (Faraday Future, referred to as FF), which is about to complete the merger with PSAC and traded on Nasdaq under the stock code "FFIE", formally submitted S4 listing documents to the US Securities Regulatory Commission. As the most important legal registration document in the listing process of US Securities Regulatory Commission, the submission mark of S4 document, FF, is expected to enter the countdown to NASDAQ in the second quarter, and the listing transaction process may be completed within May.

Earlier, the Faraday Future website showed that FF 91 had begun to accept reservations with a refundable deposit of 50, 000 yuan.

Active US stocks before the day

• There was no interest in the aftermath of the explosion, and three stocks, including FTCH, were sold off again.

Before Tuesday's trading, FTCH and Vipshop Holdings Limited were down nearly 2%.

Credit Suisse sold shares related to Archegos Capital Management on Monday, according to people familiar with the matter. Block trading involved 34 million shares of ViacomCBS, 14 million shares of Vipshop Holdings Limited and 11 million shares of Farfetch.

All three shares had previously been sold in batches, related to margin calls received by the Bill Hwang family's office.

Credit Suisse's related losses from hedge fund Archegos could be as high as $5 billion, according to Reuters. In addition, Lara warner, chief risk officer of Credit Suisse, will resign, according to the Financial Times.

• ILMN rose more than 10% before trading, and revenue in the first quarter is expected to exceed $1 billion.

Illumina Inc Inc, a biotech company, rose 10% to $424 before u.s. stock trading on Tuesday.

Earlier, the company said it expected revenue to exceed $1 billion in the first quarter, compared with $859 million in the same period last year, due to increased revenue from genetic sequencing and related orders.

Illumina Inc also said revenue growth in fiscal year 2021 is expected to be between 25 per cent and 28 per cent compared with fiscal year 2020.

• Tesla, Inc. rose slightly before the trading and was highly regarded by Oppenheimer as 1036 US dollars.

Oppenheimer analyst Colin Rusch pointed out that Tesla, Inc. 's production and delivery volume in the first quarter exceeded widespread expectations. He believes that deliveries are mainly concentrated in the Chinese market; China-oriented portfolios will help raise gross margins and help offset inflationary pressures on input costs.

Rusch expects bears to point out that the low sales of the Model Shammox indicate weak demand for its high-end model, but that the transition to a new design will re-stimulate demand for the model. In the face of supply constraints, deliveries are still better than expected, the company's stock trading will be high, and the company is likely to continue to make progress in commercializing higher-level ADAS functions.

The analyst rated Tesla, Inc. as outperforming the market, with a target price of $1036.