Stock Futures Higher As Investors Get Back Into Tech Companies – Oil Hits 7-Year High

U.S. stock futures rose Tuesday as investors rushed back into tech stocks.

In early futures trading, tech shares looked to recover some of their losses after Monday’s selloff. Facebook was up 1.2% in premarket trading dropping nearly 5% on Monday amid a series of problems dubbed Facebook’s “no good, very bad day.”

Facebook was hit by a major outage that affected users of the company’s flagship platform as well as Instagram and WhatsApp. The services are back and running as of Tuesday — just as whistle blower Francis Haugen is about to testify before Congress.

- Advertisement -

Meanwhile, investors are considering growing concerns about supply chains, inflation, and a 7-year high in oil prices. The combination suggests that investors may seen some more challenging times ahead as treasury yields increase, and inflation cuts into earnings.

The threat of a default on U.S. debt is still being contemplated though many investors see it as political theater. On Monday, President Biden said he could not guarantee U.S. debt.

- Advertisement -

Investors will be looking at U.S. trade balance data as well as the Markit U.S. Purchasing Managers’ Index.

Level Chg. Chg. %
DOW Futures 34,048.00 178 0.53%
S&P 500 Futures 4,312.50 21.25 0.50%
Nasdaq Futures 14,534.25 72 0.50%

U.S. Dollar and Treasuries

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

Price Chg. Chg. %
U.S. Dollar Index (DXY): 93.94 +0.16 +0.17%

 

Yield Change Previous close
U.S. 1 Year Treasury Bill 0.081% 0.003 0.079%
U.S. 2 Year Treasury Note 0.286% 0.012 0.274%
U.S. 5 Year Treasury Note 0.964% 0.018 0.946%
U.S. 10 Year Treasury Note 1.496% 0.014 1.482%
U.S. 20 Year Treasury Bond 2.001% 0.011 1.990%
U.S. 30 Year Treasury Bond 2.056% 0.012 2.045%

Stocks To Watch

Chinese agriculture producer and meme stock Farmmi extended its gains in premarket trading.

US Energy Corp announced it had entered into a definitive purchase agreement of oil and gas assets from companies controlled by Sage Road Capital. Traders approved of the deal, sending the stock up.

Progenity, a company offering genetic testing services, recovered slightly after falling 20% on Monday after announcing a $20 million direct share offering.

Shares of Marine Petroleum Trust rose on retail investor interest. Small investors took advantage of surging oil prices and the small number of outstanding shares of the company to push the stock up.

Shares of Uphealth Inc, a digital healthcare services provider, extended losses after the company announced a $40.25 million public offering. Shares were down almost 14% during Monday’s regular trading hours.

Symbol Price Chg. Chg. % Volume
Farmmi Inc FAMI $0.39 +0.0227 +6.24% 4.76M
Marine Petroleum MARPS $7.72 +2.700 +53.78% 2.72M
US Energy Corp USEG $5.81 +1.090 +23.09% 2.09M
Uphealth Inc UPH $1.70 -0.91 -34.87% 2.03M
Progenity Inc PROG $1.45 +0.050 +3.57% 1.79M

 

Commodities To Watch

Oil rose to a 7-year high as OPEC resists calls to accelerate production. Gold dropped. 

Price Chg. %
WTI Crude Oil $78.45 1.07%
Brent Crude Oil $82.26 1.23%
Natural Gas $5.96 3.42%
Gold $1,757.20 -0.59%
Silver $22.56 -0.39%
Copper $4.17 -1.72%
Soybeans $1,234.50 -0.10%

Crypto

Bitcoin was briefly trading above $50,000, for the first time since early September.

The global crypto market cap is $2.20T, a 4.43% increase over the last 24 hours. Bitcoin’s dominance is currently 42.97%, an increase of 0.39% in the same period.

Symbol Price Chg. % Market Cap.
Bitcoin BTC $49,930.80 +4.94% $940.47b
Etherium ETH $3,449.40 +3.87% $404.94b
Cardano ADA $2.23 +2.38% $69.23b
Ripple XRP $1.06 +3.07% $46.57b
Dogecoin DOGE $0.2404 +12.17% $31.63b

SUBSCRIBE TO MY FREE NEWSLETTER

Liberals want to destroy America. Their radical agenda will pack our courts, change the voting laws, and take away our constitutional freedoms. That's why is important to Join My Newsletter and get the news directly from me.

Related Articles

Stay Connected

137,091FansLike
693,028FollowersFollow
36,500SubscribersSubscribe
spot_img

Latest Articles

TRISH REGAN NEWSLETTER

Liberals want to destroy America. Their radical agenda will pack our courts, change the voting laws, and take away our constitutional freedoms. That's why is important to Join My Newsletter and get the news directly from me.

- Advertisement -spot_img
Get The Full Story From Me

Conservative Media is under attack from Big Tech. Please join my 100% FREE NEWSLETTER.

  • Trish Intel
  • Trish Regan
  • https://chrt.fm/track/23284G/traffic.omny.fm/d/clips/5e27a451-e6e6-4c51-aa03-a7370003783c/d93acfd6-a015-4c06-8697-ad42013d1e7d/2c146cb1-c684-4fe6-b82d-adec017e6806/audio.mp3