Investors Worry About Stagflation

U.S. futures were down Thursday as investors contemplated the soaring cost of energy. High energy prices could even lead to stagflation, especially in the coming winter. 

Investors are also anxious for Thursday’s release of jobless claims and retail sales data. Retail sales are expected to drop as car sales plunge, while jobless claims are expected to increase. Here’s a quick look at data including our stocks to watch below. 

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Equities

U.S. futures moved lower ahead of the U.S. market open.

Level Chg. Chg. %
DOW Futures 34,672.00 -29 -0.08%
S&P 500 Futures 4,464.00 -8 -0.18%
Nasdaq Futures 15,452.50 -44 -0.28%

U.S. Dollar and Treasuries

The yield on the 10-year Treasury crept higher and, the dollar strengthened against a basket of major currencies.

Price Chg. Chg. %
U.S. Dollar Index (DXY): 92.73 +0.18 +0.20%

 

Yield Change Previous close
U.S. 1 Year Treasury Bill 0.073% -0.001 0.074%
U.S. 2 Year Treasury Note 0.217% 0.000 0.217%
U.S. 5 Year Treasury Note 0.811% 0.013 0.798%
U.S. 10 Year Treasury Note 1.318% 0.016 1.301%
U.S. 20 Year Treasury Bond 1.817% 0.014 1.803%
U.S. 30 Year Treasury Bond 1.877% 0.013 1.865%

Stocks To Watch

Leap Therapeutics, a company specializing in immuno-oncology therapeutics, presented updated positive data from the Study of DKN-01. The studies showed that the combination of DKN-01 with tislelizumab and chemotherapy can give positive results for patients with gastroesophageal junction cancers. 

Shares of cybersecurity firm, Ironnet, founded by former head of the NSA Keith Alexander, surged after the company presented second quarter financial results. The company doubled its consumer base, while the revenues jumped to $24.1 million from $19.5 million for Q2 2020. 

Shares of Offerpad surged amid retail investor interest on social media. The company operates an online real estate marketplace. 

Symbol Price Chg. Chg. % Volume
Leap Therapeutics LPTX $2.52 +0.5900 +30.57% 12.05M
Ironnet Inc IRNT $47.76 +15.630 +48.65% 2.39M
Offerpad Solutions OPAD $16.88 +4.300 +34.18% 1.42M

Commodities To Watch

Oil prices held above $75 as a drop in U.S. crude inventories and surging gas prices in Europe gave it support. Gold dropped. 

Price Chg. %
WTI Crude Oil $72.38 -0.32%
Brent Crude Oil $75.27 -0.25%
Natural Gas $5.29 -3.15%
Gold $1,776.20 -1.04%
Silver $23.44 -1.52%
Copper $4.32 -2.08%
Soybeans $1,300.00 0.42%

Crypto

The global crypto market cap is $2.18T, a 1.62% increase over the last 24 hours. Bitcoin’s dominance is currently 41.33%, a decrease of 0.4% in the same period.

Symbol Price Chg. % Market Cap.
Bitcoin BTC $47,948.46 +1.07% $902.27b
Etherium ETH $3,616.54 +6.06% $423.61b
Cardano ADA $2.47 +3.05% $76.86b
Ripple XRP $1.11 +1.80% $49.01b
Dogecoin DOGE $0.2440 +0.85% $32.03b

 

 

 

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