Investors Cheered By Earnings – Dollar Drops as Bitcoin, Gold Move Higher

U.S. stocks rose in premarket trading as favourable earnings reports from major corporations outweighed inflation concerns.

Technology and shares were up, together with crypto shares, as Bitcoin continues to surge past $60,000.

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Energy stocks were up on higher oil prices amid the global energy crunch. Oil was up as Russia decided not to offer extra gas to Europe, despite President Vladimir Putin’s pledge. Analysts believe that Putin seeks leverage for Europe’s approval of the controversial North Stream 2 pipeline.

Level Chg. Chg. %
DOW Futures 35,295.00 162 0.46%
S&P 500 Futures 4,499.00 21.5 0.48%
Nasdaq Futures 15,351.50 61 0.40%

U.S. Dollar and Treasuries

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

Price Chg. Chg. %
U.S. Dollar Index (DXY): 93.6 -0.35 -0.38%

 

Yield Change Previous close
U.S. 1 Year Treasury Bill 0.103% -0.004 0.107%
U.S. 2 Year Treasury Note 0.399% -0.032 0.431%
U.S. 5 Year Treasury Note 1.146% -0.026 1.172%
U.S. 10 Year Treasury Note 1.597% 0.001 1.596%
U.S. 20 Year Treasury Bond 2.021% 0.005 2.017%
U.S. 30 Year Treasury Bond 2.047% 0.007 2.039%
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Stocks To Watch

Major movers on Tuesday were companies reporting earnings and energy stocks.

U.S. insurance giant Travellers Companies beat third-quarter earnings at $2.62 a share, vs expected $1.88 a share. Additionally, the company raised the dividend to 88 cents a share.

Shares of covid pill manufacturer Merck rose 2% after competitor’s Atea Covid drug failed its phase 2 study.

Halliburton, a major U.S. energy services provider, has reported adjusted earnings of 28 cents per share, beating forecasts. Sales fell slightly below expectations, $3.9 billion vs $3.91 billion.

Shares of Devon Energy were up on rising oil prices, higher earnings estimates by major analysts.

U.S. multinational Procter & Gamble topped estimates on earnings and revenue. The company’s earnings per share were at $1.61 vs. $1.59 expected. Shares fell regardless, as the company warned about more inflation ahead.

Pharmaceutical company Johnson & Johnson beat analysts estimates on earnings, $2.60 a share, vs $2.35 expected. Revenue was at $23.33 billion, missing expectations for $$23.72 billion.

Symbol Movers Price Chg. % Volume
TRV Travelers Companies Inc $157.00 2.69% 1,455
MRK Merck & Co Inc $79.05 2.46% 350,053
DVN Devon Energy Corp $41.40 2.17% 4,740
HAL Halliburton Co $25.79 -0.85% 38,824
PG Procter & Gamble Co $141.20 -0.80% 29,120
IP Johnson & Johnson $160.12 -0.73% 72.400

 

Commodities To Watch

Crude oil continues to rally amid the global energy crunch. Natural gas prices fell, as wind production in Europe began to prick up. Gold was up. 

Price Chg. %
WTI Crude Oil $83.35 1.10%
Brent Crude Oil $84.98 0.77%
Natural Gas $4.93 -1.20%
Gold $1,780.70 0.85%
Silver $23.83 2.43%
Copper $4.77 0.87%
Soybeans $1,227.25 0.47%

Crypto

Bitcoin continues to surge ahead of the Bitcoin ETF listing on Wall Street. 

The global crypto market cap is $2.49T, a 0.69% increase over the last day. 

Symbol Price Chg. % Market Cap.
Bitcoin BTC $62,156.21 +2.18% 1.17t
Etherium ETH $3,806.22 +1.94% 447.58b
Cardano ADA $2.13 +0.29% 66.15b
Ripple XRP $1.09 +0.74% 47.94b
Dogecoin DOGE $0.2473 -3.35% 32.59b

 

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