Futures Market Falls Amid Growing Pandemic Wave In Europe – Bitcoin Drops To $57,000

U.S. equity futures dropped Friday on concerns about a fourth wave of the coronavirus pandemic in Europe.

Austria has imposed a national lockdown, and Germany’s Chancellor Angela Merkel called the situation in the country “dramatic.”

At the same time, the political battle over Biden’s social spending bill is adding to uncertainty in the U.S.

- Advertisement -

Republican lawmaker Kevin McCarthy delayed the House vote on the bill that could add some $367 billion to the deficit. The filibuster delayed Joe Biden’s $1.75 trillion bill, for now.

Still, the tech-heavy Nasdax index was up in premarket trading, as lockdowns are considered bullish for tech stocks.

Level Chg. Chg. %
DOW Futures 35,820.00 -199 -0.56%
S&P 500 Futures 4,705.25 -9.75 -0.21%
Nasdaq Futures 16,505.50 68.25 0.41%

U.S. Dollar and Treasuries

- Advertisement -

The yield on the 10-year Treasury fell 7 basis points. The dollar strengthened as investors were looking for a safe haven.

Price Chg. Chg. %
U.S. Dollar Index (DXY): 96.01 +0.47 +0.49%

 

Yield Change Previous close
U.S. 1 Year Treasury Bill 0.150% -0.008 0.157%
U.S. 5 Year Treasury Note 1.154% -0.070 1.225%
U.S. 10 Year Treasury Note 1.524% -0.084 1.608%

 

Stocks To Watch

Wholesale mortgage lender UWM Holdings Corporation announced a share buyback program that would increase the company’s float by approximately 50%.

Shares of Carnival Corporation dropped after the cruize company refinanced a $2.3 billion debt that was due in 2023. The company announced selling a $1.5 billion “junk bond” at a high yield of about 6%, as business begins to restart.

Shares of oil companies, including Occidental Petroleum dropped with lower oil prices.

Symbol Company Name Price Chg. % Volume
UWMC UWM Holdings Corp. $6.52 18.12% 1.43M
CCL Carnival Corp. $20.34 -2.91% 553.78K
OXY Occidental Petroleum Corp. $29.37 -4.14% 197.33K

 

Commodities To Watch

Oil dropped by more than 3% on concerns over the European pandemic wave. Furthermore, the U.S. discussed a joint reserve release of reserves with China. Gold was up on a bad economic outlook.

Resource Price Chg. %
WTI Crude Oil $75.87 -3.24%
Brent Crude Oil $78.47 -3.41%
Natural Gas $4.88 -0.47%
Gold $1,864.90 0.19%
Silver $24.83 -0.28%
Copper $4.35 1.03%

 

Crypto

Bitcoin fell below $60,000, taking other cryptos with it. Most of the major cryptos were in the red.

Currency Symbol Price Chg. % Market Cap.
Bitcoin BTC $57,299.68 -3.55% 1.08t
Etherium ETH $4,165.63 -0.69% 491.65b
Binance coin BNB $569.04 +0.15% 85.55b
Solana SOL $204.94 -1.35% 62.23b
Cardano ADA $ 1.84 +0.71% 56.86b

 

SUBSCRIBE TO MY FREE NEWSLETTER

Liberals want to destroy America. Their radical agenda will pack our courts, change the voting laws, and take away our constitutional freedoms. That's why is important to Join My Newsletter and get the news directly from me.

David Marsanic
Freelance journalist, student of the Austrian school.

Related Articles

Stay Connected

137,091FansLike
693,046FollowersFollow
36,500SubscribersSubscribe
spot_img

Latest Articles

TRISH REGAN NEWSLETTER

Liberals want to destroy America. Their radical agenda will pack our courts, change the voting laws, and take away our constitutional freedoms. That's why is important to Join My Newsletter and get the news directly from me.

- Advertisement -spot_img
Get The Full Story From Me

Conservative Media is under attack from Big Tech. Please join my 100% FREE NEWSLETTER.

  • Trish Intel
  • Trish Regan
  • https://chrt.fm/track/23284G/traffic.omny.fm/d/clips/5e27a451-e6e6-4c51-aa03-a7370003783c/d93acfd6-a015-4c06-8697-ad42013d1e7d/2c146cb1-c684-4fe6-b82d-adec017e6806/audio.mp3