Stocks Mixed – Oil Over $80, Evergrande Misses Third Bond Payment

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U.S. stock futures were up in premarket, despite concerns over global growth, inflation and risks from China.

Global energy prices are still causing concerns over inflation. Investors worry that rising inflation might make central banks stop the stimulus sooner than expected.

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Evergrande missed its third bond payment on Tuesday. The company has over $100 million in bond payments due before the end of the year, signaling that only rescue from the Chinese state might save it from bankruptcy.

Level Chg. Chg. %
DOW Futures 34,395.00 26 0.08%
S&P 500 Futures 4,356.25 6.25 0.14%
Nasdaq Futures 14,739.75 43.75 0.30%

U.S. Dollar and Treasuries

The yield on the 10-year Treasury fell one basis point. The dollar was stable against a basket of major currencies.

Price Chg. Chg. %
U.S. Dollar Index (DXY): 94.32 (UNCH)

 

Yield Change Previous close
U.S. 1 Year Treasury Bill 0.098% 0.004 0.094%
U.S. 2 Year Treasury Note 0.342% 0.028 0.314%
U.S. 5 Year Treasury Note 1.066% 0.005 1.061%
U.S. 10 Year Treasury Note 1.603% -0.010 1.613%
U.S. 20 Year Treasury Bond 2.088% -0.020 2.108%
U.S. 30 Year Treasury Bond 2.138% -0.029 2.166%
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Stocks To Watch

Shares of several casino companies rose after the announcement that vaccinated Americans would soon be allowed to travel to Singapore. Las Vegas Sands owns a luxury resort in the country’s gambling mecca Marina Bay.

Shares of MGM Resorts International rose in premarket trading, as the company expands its online gambling business with its BetMGM initiative. MGM is also present at Marina Bay.

Shares of the pharmaceutical company Merck rose as the company asked FDA for emergency use authorization for its COVID pill.

Nike stock rose after investment bank Goldman Sachs rated the company as a “buy” and giving it a $172 price target.

Symbol Movers Price Chg. % Volume
MGM MGM Resorts International $45.45 2.32% 74,455
LVS Las Vegas Sands Corp $39.75 1.69% 19,695
MRK Merck & Co Inc $80.98 1.31% 65,793
NKE Nike Inc $152.25 1.31% 18,047

 

Commodities To Watch

Oil held above $80 as the global energy crunch continues. Gold rose. 

Price Chg. %
WTI Crude Oil $80.71 0.24%
Brent Crude Oil $83.73 0.10%
Natural Gas $5.20 -2.77%
Gold $1,762.40 0.38%
Silver $22.63 -0.18%
Copper $4.37 0.07%
Soybeans $1,225.00 -0.26%

Crypto

Bitcoin is continuing to rally past $57,000. The global crypto market cap is $2.29T, a 1.13% decrease over the last day. Bitcoin’s dominance is currently 47 01%, an increase of 1 33% over the day.

Symbol Price Chg. % Market Cap.
Bitcoin BTC $57,082.47 +1.10% $1.08trillion
Etherium ETH $3,442.72 -3.66% $404.50b
Cardano ADA $2.10 -5.04% $65.31b
Ripple XRP $1.08 -6.06% $47.71b
Dogecoin DOGE $0.2216 -5.32% $29.18b

 

 

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