Futures Look to Rebound After Challenging September, Inflation Still an Issue

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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.

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Level Chg. Chg. %
DOW Futures 33,871.00 149 0.44%
S&P 500 Futures 4,313.50 15.75 0.37%
Nasdaq Futures 14,727.75 45.25 0.31%

U.S. Dollar and Treasuries

The yield on the 10-year Treasury fell slightly. The dollar weakened against a basket of major currencies.

Price Chg. Chg. %
U.S. Dollar Index (DXY): 94.09 -0.14 -0.15%
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Yield Change Previous close
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.

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.

Symbol Price Chg. Chg. % Volume
Farmmi Inc FAMI $0.43 -0.0315 -6.81% 10.37M
Progenity Inc PROG $1.91 +0.390 +25.66% 10.00M
Zomedica Pharma ZOM $0.65 +0.1255 +23.97% 4.51M
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.

Price Chg. %
WTI Crude Oil $74.78 -0.33%
Brent Crude Oil $78.18 -0.17%
Natural Gas $5.78 -1.43%
Gold $1,754.50 -0.14%
Silver $22.34 1.31%
Copper $4.19 2.40%
Soybeans $1,253.50 -0.20%

Crypto

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.
Bitcoin BTC $47,414.82 +10.24% $892.46b
Etherium ETH $3,232.33 +9.16% $379.28b
Cardano ADA $2.23 +7.28% $69.49b
Ripple XRP $1.02 +9.44% $45.12b
Dogecoin DOGE $0.2158 +8.96% $28.38b

 

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