U.S. stocks looked to start the day mixed as investors contemplated the possible direction of the Fed’s monetary policy.
Federal Reserve Chairman Jerome Powell said on Tuesday that the pandemic “continues to cast a shadow” on the prospects for a recovery. He did not, however, say how the Fed will react to that fact.
That’s why investors are eager to see the Federal Reserve Open Market Committee (FOMC) minutes, set to be released today. Investors will be looking for any clue on when the Fed might start tapering its $120 billion worth of monthly bond purchases.
U.S. stock futures were mixed in premarket trading as investors awaited the latest Fed minutes and assessed the outlook of a recovery. (Story continues below.)
|S&P 500 Futures||4,439.75||-4.25||-0.10%|
U.S. Dollar and Treasuries
U.S. Treasury yields rose. The yield on the 10-year Treasury rose one basis point. The dollar was stable against a basket of major currencies.
|U.S. Dollar Index (DXY):||93.07||-0.06||(-0.06%)|
|U.S. 1 Year Treasury Bill||0.073%||0.007||0.066%|
|U.S. 2 Year Treasury Note||0.218%||0.008||0.209%|
|U.S. 5 Year Treasury Note||0.775%||0.007||0.768%|
|U.S. 10 Year Treasury Note||1.277%||0.013||1.264%|
|U.S. 20 Year Treasury Bond||1.833%||0.016||1.817%|
|U.S. 30 Year Treasury Bond||1.936%||0.009||1.927%|
Stocks To Watch
TD Holdings, a Chinese commodities trading company, released second quarter earnings results. The company’s revenue was at $59.84 million, a 2981% increase from Q2 of 2020.
Virpax Pharmaceuticals announced it received a written pre-investigational new drug response from the FDA for MMS019. MMS019 high-density molecular masking spray developed to be used as an anti-viral barrier. Stocks of the company soared %262.50 in Tuesday’s regular trading hours.
AzurRx BioPharma announced positive results from its Phase 2 Combination Trial of MS1819 with porcine-derived pancreatic enzyme replacement therapy. MS1819 is designed for the treatment of severe exocrine pancreatic insufficiency in patients with cystic fibrosis.
|TD Holdings Inc||GLG||$0.94||+0.1997||+26.99%||5.33M|
Commodities To Watch
Oil rebounded as a U.S. industry report highlighted a drop in stockpiles. Gold was slightly lower.
|WTI Crude Oil||$67.38||1.19%|
|Brent Crude Oil||$69.94||1.32%|
Crypto coin market cap dropped amid a Bitcoin slump. The largest cryptocurrency rebounded after testing lower supports near $44,000.
|Global cap||global cap chg.%|
|Symbol||Price||Chg. %||Market Cap.|