Trish: Investors Nervous Ahead of Fed Update, Though Markets Still Higher

Investors are waiting on new guidance from the Federal Reserve. Fed officials are set to conclude their two-day policy meeting on Wednesday. A statement will be released at 2pm ET and the market is looking for clues as to when, if ever, the Fed intends to put the breaks on its easy money policies.

Meanwhile, U.S. stock futures were up slightly amid strong earnings reports from major tech giants.

US mortgage applications rose 5.7%, driven by more refinancing activity which increased 9.3%. Purchase applications, however, declined by 1.6%. (Story continues below.)

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Equities

U.S. stock futures were up in premarket trading, as investors assessed earnings from major tech companies.

Level Chg. Chg. %
DOW Futures 34,989.00 25 0.07
S&P 500 Futures 4,400.50 6.25 0.14
Nasdaq Futures 15,010.25 63 0.42

 

U.S. Treasury yields rose ahead of the Federal Reserve rate decision. The dollar strengthened against a basket of major currencies.

U.S. Dollar and Treasuries

Price Chg. Chg. %
U.S. Dollar Index (DXY): 92.61 +0.18 +0.19%

 

US 1-MO 0.041 -0.002
US 2-YR 0.209 +0.006
US 5-YR 0.725 +0.015
US 10-YR 1.261 +0.027
US 30-YR 1.917 +0.028

Stocks To Watch

Chinese education tech firms New Oriental Education and TAL Education still traded in large volume after China announced a crackdown on the sector. The stocks stabilized after losing more than 70% of their value since the announcement.

Chinese ride-sharing firm Didi Global traded higher after dropping more than 30% on regulatory news. The company could face unprecedented penalties for ignoring warnings from the Chinese authorities about pursuing a U.S. IPO.

Infinity Pharmaceuticals rebounded in premarket trading after losing more than 30% during Tuesday’s regular trading hours. On Tuesday, the company reported a quarterly loss, as well as disappointing data from the breast and bladder cancer trials.

 NanoVibronix, a medical device company, shipped its first order of PainShield Plus, a next-generation ultrasonic pain management device. The stocks spiked on the announcement.

Bit Digital, a New York-based bitcoin mining company, was up in premarket trading. The stock nearly doubled on Monday after the announced strategic collaboration with Digihost.

Symbol Price Chg. Chg. %
New Oriental Education EDU $2.29 +0.100 +4.57%
Infinity INFI $2.09 +0.570 +37.50%
NanoVibronix Inc NAOV $1.66 +0.1900 +12.93%
Bit Digital Inc BTBT $7.75 +1.860 +31.58%
TAL Education TAL $6.17 +0.66 +11.98%
Didi Global DIDI $8.41 +0.37 +4.60%

 

Commodities 

Oil prices edged up as low inventories outweighed the concerns over the spread of the Delta variant on global demand. Gold weakened. 

Price Chg. %
WTI Crude Oil 72.11 0.64%
Brent Crude Oil 74.85 0.50%
Natural Gas 3.98 0.84%
Gold 1,798.40 -0.08%
Corn 547.5 0.23%

 

Crypto

The global crypto market cap increased by 4.95% in the last 24 hours. Bitcoin traded above $40,000 after a series of apparent corporate endorsements, including Amazon and Twitter

 

Symbol Price Chg. % Cap
Bitcoin BTC $ 40,311.87 +7.08% $ 756.62 billion
Ethereum ETH $ 2,310.67 +2.77% $ 269.09 billion
Tether USD USDT $ 1.00 -0.01% $ 62.03 billion
Cardano ADA $ 1.30 +1.48% $ 40.38 billion
Dogecoin DOGE $ 0.2099 +2.94% $ 27.41 billion
Polkadot DOT $ 14.52 +3.75% $ 15.90 billion

 

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