Futures Markets Lower, Oil Up, As October Trading Begins

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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.

Level Chg. Chg. %
DOW Futures 34,074.00 352 1.04%
S&P 500 Futures 4,328.00 30.25 0.70%
Nasdaq Futures 14,685.00 -76.75 -0.52%

U.S. Dollar and Treasuries

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

Price Chg. Chg. %
U.S. Dollar Index (DXY): 93.81 -0.23 -0.24%

 

Yield Change Previous close
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.

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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.

Symbol Price Chg. Chg. % Volume
Farmmi Inc FAMI $0.37 +0.0194 +5.49% 10.97M
OpGen Inc OPGN $3.59 +0.830 +30.07% 5.48M
Amplify Energy AMPY $1.93 -3.82 -66.43% 3.13M
Sonnet Biotherapeut. SONN $0.70 +0.0500 +7.69% 2.63M

 

Commodities To Watch

Oil rose amidst the global energy shortage. Copper was up on inflation fears, supply crunch. Gold dropped. 

Price Chg. %
WTI Crude Oil $75.99 1.28%
Brent Crude Oil $79.48 1.49%
Natural Gas $5.69 -2.95%
Gold $1,749.30 -0.52%
Silver $22.32 -0.96%
Copper $4.25 1.43%
Soybeans $1,238.50 -0.64%

Crypto

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.
Bitcoin BTC $47,501.27 -1.02% $894.51b
Etherium ETH $3,311.16 -2.88% $388.67b
Cardano ADA $2.17 -4.68% $67.34b
Ripple XRP $1.02 -3.07% $44.98b
Dogecoin DOGE $0.2136 -3.44% $28.10b

 

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