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.
|S&P 500 Futures||4,612.00||-41||-0.88%|
U.S. Dollar and Treasuries
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.
|U.S. Dollar Index (DXY):||95.45||+0.19||+0.20%|
|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|
|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.
|WTI Crude Oil||$84.89||1.28%|
|Brent Crude Oil||$87.19||1.31%|
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.|