Investors Grow Nervous Amid Gas Shortage In Europe, Blackouts In China As Energy Crisis Sweeps The Globe

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U.S. futures looked to open lower Tuesday amid what investors believe could be looming energy crisis, as bond yields and commodity prices surged. WTI topped $76 a barrel.

Natural gas prices are at an all-time high in Europe. The UK is experiencing a shortage of gasoline, while China is suffering from blackouts due to tougher CO2 emissions standards.

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The potential Evergrande default is also still a risk for the world markets. Chinese authorities are now directing state-backed firms to buy some of Evergrande’s assets.

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In the U.S., Federal Reserve Chairman Jerome Powell will be testifying before the Senate on Tuesday. Inflation will likely  be a topic of discussion.

This, as Senate Republicans blocked a House-passed bill Monday that would have funded the government into December and suspended the debt ceiling until December 2022.

In order to avoid a government shutdown, Congress must approve a budget by Friday.

Level Chg. Chg. %
DOW Futures 34,616.00 -127 -0.37%
S&P 500 Futures 4,398.25 -34.75 -0.78%
Nasdaq Futures 14,964.50 -230.25 -1.52%

U.S. Dollar and Treasuries

The yield on the 10-year Treasury rose four basis points. The dollar strengthened against a basket of major currencies.

Price Chg. Chg. %
U.S. Dollar Index (DXY): 93.57 +0.19 +0.20%

 

Yield Change Previous close
U.S. 1 Year Treasury Bill 0.080% 0.006 0.074%
U.S. 2 Year Treasury Note 0.313% 0.006 0.280%
U.S. 5 Year Treasury Note 1.021% 0.026 0.986%
U.S. 10 Year Treasury Note 1.525% 0.040 1.485%
U.S. 20 Year Treasury Bond 2.005% 0.056 1.949%
U.S. 30 Year Treasury Bond 2.048% 0.049 1.999%

Stocks To Watch

Meme stocks rallied in premarket trading amid renewed retail investor enthusiasm. Chinese agriculture manufacturer Farmmi traded higher after gaining 14% in Monday’s trading. Camber Energy was up after gaining more than 33% on Monday. Naked Brand gained 20% on Monday’s trading and was stable in premarket trading. 

Sonoma Pharmaceuticals launched its first over-the-counter product for the treatment of cuts, scars and bruises. The company specializes in medical applications based on hypochlorous acid. 

Shares of Planet Green Holdings Corp increased substantially on the release of an SEC form revealing insider buying. The company’s CEO Bin Zhou acquired 1.32 million shares of the company at the price of $2.60 per share. 

Symbol Price Chg. Chg. % Volume
Farmmi Inc FAMI $0.26 +0.0273 +11.50% 22.62M
Camber Energy Inc CEI $2.91 +0.1900 +6.99% 7.07M
Naked Brand NAKD $0.82 -0.0082 -0.98% 5.47M
Sonoma Pharma SNOA $9.22 +3.870 +72.34% 5.26M
Planet Green PLAG $1.50 +0.3500 +30.43% 1.76M

 

Commodities To Watch

The energy crisis boosted U.S. oil prices to the highest level in three years. Gold was stable. 

Price Chg. %
WTI Crude Oil $76.21 1.01%
Brent Crude Oil $79.34 0.79%
Natural Gas $6.28 9.54%
Gold $1,735.40 -0.95%
Silver $22.25 -1.98%
Copper $4.24 -1.07%
Soybeans $1,284.25 -0.25%

Crypto

Crypto traders are still cautious due to the Chinese ban on crypto transactions. The global crypto market cap is $1.86T, a 4.08% decrease over the last 24 hours. Bitcoin’s dominance is currently 42.36%, an increase of 0.03% in the same period.

Symbol Price Chg. % Market Cap.
Bitcoin BTC $41,980.71 -4.04% $790.44b
Etherium ETH $2,919.95 -5.70% $342.51b
Cardano ADA $2.13 -4.37% $66.23b
Ripple XRP $0.9359 -2.81% $41.25b
Dogecoin DOGE $0.2013 -2.30% $26.46b

 

 

 

 

 

 

 

 

 

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