U.S. stocks were higher Friday despite concerns of a worsening global growth outlook and growing inflation.
The Delta variant could hurt economic activity in Asia, which would likely have a ripple effect across the world.
Despite the worsening outlook, the S&P 500 still hit a record high again in Friday’s premarket trading.
Markets have gotten some respite from inflation worries after the Import Price Index data were released. U.S. July import prices grew at 0.3% vs 0.6% expected.
|S&P 500 Futures||4,4580.00||4.40||0.10%|
U.S. Dollar and Treasuries
U.S. Treasury yields dropped as the Producer Price Index spiked more than expected, pointing to higher inflation. The dollar dropped.
|U.S. Dollar Index (DXY):||92.8||-0.24||(-0.25%)|
|U.S. 1 Year Treasury Bill||0.079%||-0.003||0.081%|
|U.S. 2 Year Treasury Note||0.221%||-0.004||0.225%|
|U.S. 5 Year Treasury Note||0.823%||-0.005||0.828%|
|U.S. 10 Year Treasury Note||1.349%||-0.013||1.362%|
|U.S. 20 Year Treasury Bond||1.895%||-0.012||1.907%|
|U.S. 30 Year Treasury Bond||2.001%||-0.024||2.002%|
Stocks To Watch
U.S. e-commerce platform ContextLogic Inc. reported worse-than-expected second quarter earnings results. The company stated that profits dropped due to slowing demand and unexpected increases in operating costs.
Dental laser manufacturer BIOLASE Inc reported positive Q2 results. The company’s net revenue grew 211% to $9.1 million. The company also pointed out that Over 70% of U.S. laser sales came from new customers, which is a positive trend.
Bit Brother (formerly UrbanTea), a specialty tea product retail business, surged in premarket trading despite no company-related news.
Boxlight, an education tech company, reported positive Q2 earnings results. The company’s revenues increased by 497% to $46.8 million. Customer orders increased almost tenfold, by 986% to $76.0 million.
|Bit Brother Ltd||BTB||$1.31||+0.1600||+13.91%||2.87M|
Commodities To Watch
Oil was stable despite concerns over slowing demand due to the delta variant. Gold continued to climb after last week’s drop to a 4-month low.
|WTI Crude Oil||$68.93||-0.23%|
|Brent Crude Oil||$71.22||-0.13%|
Bitcoin is back above $46,000. Altcoins outperformed the more mainstream cryptocurrencies today.
|Global cap||global cap chg.%|
|Symbol||Price||Chg. %||Market Cap.|