Stock Futures Slump As Oil Spikes, Bond Yields Move Higher

U.S. equity futures dropped as bond yields and oil prices surged in early trading Tuesday.

Investors are anxious amid growing inflation and a renewed focus on earnings. So far, earnings are not impressing the investors. Banking giant Goldman Sachs, for example, missed its profit and revenue target Tuesday.

The tech heavy Nasdaq was the biggest loser among the indices in futures trading, tumbling over 220 basis points or 1.43%. Both Dow Jones Industrial Average and S&P 500 indices are likely to open in the red.

Level Chg. Chg. %
DOW Futures 35,533.00 -254 -0.71%
S&P 500 Futures 4,612.00 -41 -0.88%
Nasdaq Futures 15,364.25 -220.75 -1.42%

U.S. Dollar and Treasuries

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Treasury yields rose more than 1%, rising to a pandemic high of 1.831%. Yields rose as treasuries tumbled, reflecting investor concern with inflation. The dollar was up as global investors fled to safe-havens.

Price Chg. Chg. %
U.S. Dollar Index (DXY): 95.45 +0.19 +0.20%

 

Yield Change Previous close
U.S. 1 Year Treasury Bill 0.515% 0.035 0.480%
U.S. 5 Year Treasury Note 1.603% 0.045 1.558%
U.S. 10 Year Treasury Note 1.811% 0.019 1.792%

 

Stocks To Watch

Tech stocks were the biggest losers in premarket trading. EC company Tesla, big data company Palantir and chipmaker NVIDIA were among the biggest losers.

On the other hand, oil stocks were up with surging oil prices. Exxon Mobil and Marathon Oil were up in premarket trading.

Shares of investment bank Goldman Sachs tumbled after an earnings miss. Quarterly profit fell by 13% to $10.81 per share, below the $11.76 estimate.

Symbol Company Name Price Chg. % Volume
PLTR Palantir Technologies Inc. $15.58 -2.69% 480.91K
TSLA Tesla Inc. $1,022.00 -2.63% 364.51K
NVDA NVIDIA Corp. $264.20 -1.94% 284.69K
MRO Marathon Oil Corp. $19.68 1.08% 185.87K
XOM Exxon Mobil Corp. $71.87 0.00% 116.87K
GS Goldman Sachs Group Inc. $364.00 -4.45% 101.29K

 

Commodities To Watch

Oil prices surged to their highest level in 7 years, following an attack on UAE by Houthi rebels from Yemen. Houthis align with Teheran, which sparks concern over oil supply routes in the Middle East. Gold was stable. 

Resource Price Chg. %
WTI Crude Oil $84.89 1.28%
Brent Crude Oil $87.19 1.31%
Natural Gas $4.32 1.27%
Gold $1,815.40 -0.06%
Silver $23.01 0.38%
Copper $4.41 -0.35%

Crypto

The global crypto market cap is $1.98T, a 2.61% decrease over the last day. Bitcoin’s dominance is currently 39.84%, an increase of 0.28% over the same period.

Currency Symbol Price Chg. % Market Cap.
Bitcoin BTC $41,988.59 -1.92% 794.97b
Etherium ETH $3,177.38 -3.15% 377.58b
Binance coin BNB $467.07 -2.05% 69.44b
Solana SOL $137.49 -3.42% 43.19b
Cardano ADA $ 1.502 -1.45% 46.74b

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