U.S. stocks were up on Friday’s premarket trading after the disappointing end to the third quarter of 2021.
Investors are hoping that the markets overcorrected in September, which was the worse month for tech stocks since the beginning of the pandemic. Energy prices, slowing growth, risks in China, and supply chain disruptions all contributed to the decline.
The Personal consumption expenditures (PCE) Price Index, a key measurement of inflation posted a 3.6% year-over-year gain, indicating inflation is still rampant in the economy.
|S&P 500 Futures||4,313.50||15.75||0.37%|
U.S. Dollar and Treasuries
The yield on the 10-year Treasury fell slightly. The dollar weakened against a basket of major currencies.
|U.S. Dollar Index (DXY):||94.09||-0.14||-0.15%|
|U.S. 1 Year Treasury Bill||0.078%||-0.004||0.081%|
|U.S. 2 Year Treasury Note||0.282%||0.000||0.281%|
|U.S. 5 Year Treasury Note||0.965%||-0.002||0.967%|
|U.S. 10 Year Treasury Note||1.487%||-0.001||1.487%|
|U.S. 20 Year Treasury Bond||1.994%||0.005||1.989%|
|U.S. 30 Year Treasury Bond||2.049%||0.004||2.045%|
Stocks To Watch
Meme stocks were among the most traded stocks today, riding the wave of renewed retail investor enthusiasm.
Shares of Progenity extended gains in premarket trading after jumping up more than 40% on Thursday. The stock was targeted for a short squeeze by retail investors. Progenity specializes in genetic testing for medical risk factors.
— caddude42069 (@caddude42069) September 28, 2021
Zomedica Pharmaceuticals, a veterinary pharmaceutical company and a popular meme stock, extended gains in premarket trading.
Other meme stocks fared worse, as investors were taking profit. Farmmi and Camber Energy both posted losses, after significant gains during Tuesday’s trading.
|Camber Energy Inc||CEI||$3.47||-0.355||-9.29%||4.46M|
Commodities To Watch
Oil slipped to $78 as OPEC weighs an increase in production. Gold dropped.
|WTI Crude Oil||$74.78||-0.33%|
|Brent Crude Oil||$78.18||-0.17%|
Crypto is back above $2 trillion in market cap, with Bitcoin surging 10%.
The global crypto market cap is $2.07T, a 9.34% increase over the last 24 hours. Bitcoin’s dominance is currently 43.14%, an increase of 0.37% in the same period.
|Symbol||Price||Chg. %||Market Cap.|