Trish: Markets Focus on Key Tech Earnings

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Investors are getting ready for a big week of key tech earnings and so far, so good. Investors hope to build on last week’s optimism.

Tech giants Tesla, Alphabet, Apple, Facebook and Amazon are expected to report earnings this week. Tesla is reporting first. The EV company’s earnings are due on Monday, after the market close.

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Investors will be looking at New home sales data, which is set to be released Monday. Analysts expect an increase of 4%, after a disappointing 5.9% drop in May. Dallas Fed Manufacturing Activity Index is also set to be released on Monday and will help provide a measurement on economic health for manufacturing sector..

Equities

U.S. stock futures dropped. Investors are concerned about how the Delta variant could impact the global economy.

Price Chg. Chg. %
Dow Jones 34,855 -98 -0.28%
S&P 500 4,3891 -11 -0.27%
Nasdaq 14,836.00 +152.4 +1.04%

 

U.S. Dollar and Treasuries

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10-year Treasury yields increased two basis points as good economic data made investors relatively bullish on stocks. The dollar dropped.

Price Chg. Chg. %
U.S. Dollar Index (DXY): 92.698 -0.23 -0.25%

 

Treasury yields: Yield today Previous Yield
10-year Treasury yield: 1.29% 1.27%
2-year Treasury yield: 1.93% 1.90%

Stocks To Watch

Chinese tech stocks listed on U.S. markets continue to collapse as China continues its crackdown on the sector.

Stocks of Chinese education tech firms New Oriental Education, Tal Education, continue to drop after the announced government crackdown. China is cracking down on education tech in an effort to decrease education costs and boost birth rates. Reports suggest that the government may ask all tutoring companies to go non-profit, which would limit their ability to raise capital.

The Chinese Uber equivalent Didi is at risk of unprecedented penalties in China. The company recently decided to go public despite warnings from Chinese regulators, a move that can be interpreted as a challenge to the government’s authority.

Stocks of a medical company NanoVibronix Inc continue to rise after the company released the results of a study on its treatment of urinary tract infection. The company reported “overwhelmingly positive findings” from a study on patients using its UroShield product. The stock was up 204% during Friday’s trading.

Dynatronics surged on retail investor interest. Retail investors often target companies with low floats and high short interest.

Last Chg. Chg. % Symbol
New Oriental Education. $2.21 -0.72 -24.57% EDU
NanoVibronix Inc $3.65 +1.0400 +39.85% NAOV
TAL Education $4.64 -1.36 -22.67% TAL
Dynatronics $2.02 +0.7300 +56.59% DYNT
Didi Global $6.99 -1.07 -13.28% DIDI

 

Commodities To Watch

Oil dropped as the spread of the Delta variant put demand in question. China’s release of strategic reserves helped push the price down even further. Gold strengthened.

Price Chg. Chg. %
Crude Oil WTI $71.62 -0.45 -0.62%
Brent Oil $73.03 -0.41 -0.56%
Natural Gas $4.068 +0.026 +0.64%
Gold $1,808.85 +7.05 +0.39%
Silver $25.475 +0.242 +0.96%
Copper $4.469 +0.0690 +1.57%
US Soybeans $1,340.50 -10.5 -0.78%

 

Crypto

The global crypto market cap increased by 9.82% in the last 24 hours. Both Twitter CEO Jack Dorsey and Tesla CEO Elon Musk have made positive comments on cryptocurrencies. Rumors surfaced that Amazon might accept Bitcoin by the end of 2021, and develop its own crypto by 2022. Investors took this news as signs that crypto is becoming more mainstream.

Price Chg. % Cap
1 Bitcoin BTC $38,368.01 +11.25% $ 720.06 billion
2 Ethereum ETH $2,351.05 +8.11% $ 273.73 billion
3 Tether USD USDT $0.9987 -0.19% $ 61.91 billion
4 Binance Coin BNB $319.41 +5.85% $ 48.45 billion

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Trish Reganhttps://trishintel.com
Trish Regan is an award winning financial journalist, an American television talk show host and author who interprets political events through an economic lens.

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