The market may start the week in the red. On Monday, S&P futures fell as oil surged to the highest level since 2014, causing more concerns over inflation and growth. The Dow briefly moved into positive territory.
At issue: Oil. Oil is now near $81 a barrel, and many speculate it could head even higher as we move into colder winter months.
The question on many investors’ minds: will a global energy crunch will bump up inflation numbers even more, and therefore slow down the post-pandemic economic recovery?
| Level | Chg. | Chg. % | |
| DOW Futures | 34,574.00 | -66 | -0.19% |
| S&P 500 Futures | 4,367.25 | -23 | -0.52% |
| Nasdaq Futures | 14,711.00 | -171.75 | -1.15% |
The yield on the 10-year Treasury rose slightly and now stands at 1.6%. The dollar strengthened against a basket of major currencies.
U.S. Dollar and Treasuries
| Price | Chg. | Chg. % | |
| U.S. Dollar Index (DXY): | 94.24 | +0.17 | +0.18% |
| Yield | Change | Previous close | |
| U.S. 1 Year Treasury Bill | 0.093% | -0.001 | 0.094% |
| U.S. 2 Year Treasury Note | 0.314% | 0.000 | 0.314% |
| U.S. 5 Year Treasury Note | 1.061% | 0.000 | 1.061% |
| U.S. 10 Year Treasury Note | 1.613% | 0.000 | 1.613% |
| U.S. 20 Year Treasury Bond | 2.108% | 0.000 | 2.108% |
| U.S. 30 Year Treasury Bond | 2.166% | 0.000 | 2.166% |
Stocks To Watch
Major oil companies extended their gains due to the surge in oil prices. The biggest winners in premarket trading all energy companies. Among them, Marathon Oil, Occidental Petroleum, Hess Corp, etc.
Southwest Airlines slumped on reports that the commercial carrier will extend cancellations due to bad weather in Florida. The cancellations impacted 30% of its flights on Sunday.
Twitter shares were trading down after Australia threatened tougher laws on online posts. As a response, Twitter, Facebook and Google in Australia set up a special committee to adjudicate misinformation complaints.
| $ Price | % Change | Volume | |
| MRO Marathon Oil Corp | 16.60 | 3.30% | 51,526 |
| OXY Occidental Petroleum Corp | 34.71 | 3.21% | 108,743 |
| HES Hess Corp | 91.84 | 3.02% | 4,792 |
| DVN Devon Energy Corp | 40.91 | 2.63% | 27,637 |
| EOG EOG Resources Inc | 92.88 | 2.60% | 3,584 |
| LUV Southwest Airlines Co | 52.45 | -2.73% | 17,418 |
| TWTR Twitter Inc | 63.03 | -1.02% | 14,230 |
Commodities To Watch
Oil rose amid the global energy crunch. Gold was stable.
| Price | Chg. % | |
| WTI Crude Oil | $81.91 | 3.23% |
| Brent Crude Oil | $84.53 | 2.60% |
| Natural Gas | $5.75 | 1.29% |
| Gold | $1,755.80 | -0.09% |
| Silver | $22.58 | -0.57% |
| Copper | $4.35 | 1.70% |
| Soybeans | $1,245.25 | 0.18% |
Crypto
The global crypto market cap is $2.32T, a 0.33% increase over the last 24 hours. Bitcoin’s dominance is currently 45.68%, an increase of 0.92% in the same period.
| Symbol | Price | Chg. % | Market Cap. | |
| Bitcoin | BTC | $56,411.72 | +2.79% | $1.06trillion |
| Etherium | ETH | $3,567.75 | +0.80% | $419.28b |
| Cardano | ADA | $2.21 | -1.41% | $68.73b |
| Ripple | XRP | $1.15 | -2.61% | $50.71b |
| Dogecoin | DOGE | $0.2334 | -4.21% | $30.73b |
