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U.S. stocks opened slightly lower on Tuesday, as investors booked profits following the S&P 500's best day in six weeks in the previous session.

Oil prices were mixed on Tuesday, with Brent pulling back from an early gain on profit-taking, while U.S. crude extended its rally amid signs that producers are cutting output as promised just as demand picks up on a resumption of economic activity.

French carmaker Renault plans to cut about 400 out of some 3,200 jobs at its Slovenian unit Revoz after the coronavirus epidemic hit demand for its products, Revoz said on Tuesday.

U.S. Treasury Secretary Steven Mnuchin said on Tuesday that he is continuing to see large unemployment numbers and other negative economic indicators during the second quarter, but the situation is expected to improve as the U.S. economy starts to reopen.

Nasdaq Inc has delivered a notice to China's Luckin Coffee Inc informing it that it has to delist from the U.S. stock exchange, people familiar with the matter said on Tuesday.

While overall bankruptcy filings dropped in April, the number of businesses that filed Chapter 11 bankruptcy — which involves reorganizing debt and remaining in operation — jumped 26% from a year earlier.

U.S. President Donald Trump's administration has awarded a $354 million contract to U.S.-based Phlow Corp to manufacture drugs being tested or used to fight the new coronavirus as well as some medicines that are in shortage.

Two top U.S. airlines said on Tuesday ticket cancellations were slowing and demand was showing some signs of improvement, with Southwest Airlines Co recording more trip reservations than cancellations so far this month.

A White House advisory panel on Tuesday will call for the government and private industry to work together to build new technological infrastructure to support future jobs and provide the underpinnings critical to a solid economic recovery from the coronavirus pandemic, an official briefed on the plans said.

Worldwide electric car registrations are set to fall 18% this year, but those of combustion engine cars are set to drop even faster, analysts BloombergNEF (BNEF) said on Tuesday, as the automotive sector is hammered by the coronavirus crisis.

British supermarket group Asda got a sales boost in the first quarter from consumers stocking up before the coronavirus lockdown but it also highlighted that 90% of its shoppers now fear an economic depression.

U.S. homebuilding dropped to a five-year low in April, underlining fears that the novel coronavirus crisis would lead to the deepest economic contraction in the second quarter since the Great Depression.

HSBC Holdings PLC expects to achieve double-digit asset growth in its newly combined wealth business in Asia Pacific in the next three years, as it looks to grab a bigger share of the growing rich population, the unit's regional head told Reuters.

White House economic adviser Larry Kudlow said on Tuesday that President Donald Trump wants to see a 7.6% cut in the U.S. payroll tax, hoping it will help staunch economic pain caused by the COVID-19 pandemic.

White House economic adviser Larry Kudlow said on Tuesday that President Donald Trump wants a payroll tax holiday for U.S. workers in the hopes of staunching economic pain caused by the coronavirus pandemic.