U.S. stock futures were lower early Monday, as traders remained cautious amid growing inflation concerns and other risks. Commodities were up as the global supply crunch exacerbated those inflation fears and oil looked to approach $80 per barrel.
Pfizer and Moderna stocks moved slightly lower in the premarket amid news that Merck has released a “COVID Pill” for the treatment of those infected with the virus. Tourism stocks were up as the new pill promised a quicker return to normal.
In China, Evergrande is facing a payment of a $260 million note today. The note has no grace period, meaning that a missed payment would trigger a default. Chinese firm Hobson Development will buy the controlling stake in Evergrande’s property services business.
|S&P 500 Futures||4,328.00||30.25||0.70%|
U.S. Dollar and Treasuries
The yield on the 10-year Treasury rose slightly, as the dollar weakened against a basket of major currencies.
|U.S. Dollar Index (DXY):||93.81||-0.23||-0.24%|
|U.S. 1 Year Treasury Bill||0.080%||0.001||0.079%|
|U.S. 2 Year Treasury Note||0.278%||0.008||0.270%|
|U.S. 5 Year Treasury Note||0.943%||0.015||0.928%|
|U.S. 10 Year Treasury Note||1.493%||0.029||1.463%|
|U.S. 20 Year Treasury Bond||2.006%||0.035||1.971%|
|U.S. 30 Year Treasury Bond||2.064%||0.033||2.031%|
Stocks To Watch
Meme stock Farmmi Inc led the premarket in volume. The stock was up after dropping more than 23.55% on Friday due to profit-taking.
A microbial genetic testing company OpGen provided a revenue update for the third quarter. Total revenue and cash positions were up. Cash positions were at $25.4 million, a significant jump from $13.4 million at the end of 2020.
Shares of Amplify Energy collapsed after the company announced it has shut down a Southern California pipeline due to a leak. An estimated 126,000 gallons of oil spilled, threatening the beaches and the wetlands of the region.
Sonnet Biotherapeutics extended its gains in premarket trading on retail investor interest.
Commodities To Watch
Oil rose amidst the global energy shortage. Copper was up on inflation fears, supply crunch. Gold dropped.
|WTI Crude Oil||$75.99||1.28%|
|Brent Crude Oil||$79.48||1.49%|
Crypto was steady after last week’s rebound which pushed the market cap back above $2 trillion.
The global crypto market cap is $2.10T, a 1.19% decrease over the last 24 hours. Bitcoin’s dominance is currently 42.56%, an increase of 0.2% in the same period.
|Symbol||Price||Chg. %||Market Cap.|