Stocks Steady Ahead Of Fed Leadership Decision – Bitcoin Tumbles Toward $60,000

U.S. stock futures were steady on Tuesday as investors were relieved to see some positive news coming from retail sector earnings.

Walmart raised its forecast, saying it is prepared for the holiday season with fully stocked shelves. Home Depot, meanwhile, saw a 9.8% increase in sales as consumers continued improvement their homes.

Amid this stronger-than-expect retail environment, many investors are questioning whether there will be changes at the head of the Federal Reserve. Fed Governor Lael Brainard is viewed as the successor to Chairman Jay Powell.

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Markets expect Brainard to continue the liquidity bonanza. In just one year, the M2 money supply increased by a whopping 26%, the largest increase since WW2.

Level Chg. Chg. %
DOW Futures 36,067.00 50 0.14%
S&P 500 Futures 4,680.50 0.75 0.02%
Nasdaq Futures 16,190.00 0.25 0.00%

U.S. Dollar and Treasuries

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

Price Chg. Chg. %
U.S. Dollar Index (DXY): 95.59 +0.18 +0.19%

 

Yield Change Previous close
U.S. 1 Year Treasury Bill 0.165% 0 0.165%
U.S. 5 Year Treasury Note 1.256% 0.002 1.254%
U.S. 10 Year Treasury Note 1.615% 0.031 1.584%

Commodities To Watch

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Oil was up on tight inventories across the globe. Gold rose. 

Resource Price Chg. %
WTI Crude Oil $81.39 0.63%
Brent Crude Oil $82.79 0.90%
Natural Gas $5.21 3.75%
Gold $1,873.60 0.38%
Silver $25.31 0.82%
Copper $4.40 -0.11%

Crypto

The crypto markets crashed with Bitcoin. The current crypto market cap is $2.63T, an 8.47% drop over the last 24 hours. Bitcoin’s dominance is currently 43.53%, an increase of 0.3% in the same period.

Currency Symbol Price Chg. % Market Cap.
Bitcoin BTC $60,516.11 -7.92% 1.14t
Etherium ETH $4,258.65 -10.06% 502.46b
Cardano ADA $1.89 -8.28% 59.12b
Ripple XRP $1.09 -9.50% 48.01b
Dogecoin DOGE $0.2363 -8.60% 31.22b

 

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