Trish: Markets Mixed Ahead of Inflation Data

U.S. stocks were mixed in premarket trading as investors debated the likelihood that the Fed might reduce stimulus. Inflation data due out Wednesday will help them evaluate whether the Fed might move.

Some Federal Reserve officials seem to think that the economy is on its way to a full recovery and that they will be able to slowly taper with no adverse consequences for the market.

Equities

U.S. stock indices were mixed as investors were assessing the Fed’s comments on reducing monetary stimulus. 

Level Chg. Chg. %
DOW Futures 34,985.00 -13 -0.04%
S&P 500 Futures 4,426.00 0.25 0.01%
Nasdaq Futures 15,141.25 16 0.11%
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U.S. Dollar and Treasuries

U.S. Treasury yields were little changed. The dollar strengthened against a basket of major currencies, as investors expect the Fed to taper sooner. 

Price Chg. Chg. %
U.S. Dollar Index (DXY): 93.08 +0.14 (+0.15%)

 

Yield Change Previous close
U.S. 1 Year Treasury Bill 0.079% 0.001 0.078%
U.S. 2 Year Treasury Note 0.228% 0.004 0.224%
U.S. 5 Year Treasury Note 0.805% 0.008 0.797%
U.S. 10 Year Treasury Note 1.329% 0.006 1.323%
U.S. 20 Year Treasury Bond 1.880% 0.000 1.880%
U.S. 30 Year Treasury Bond 1.969% -0.003 1.972%

 

Stocks To Watch

A medical device company Dynatronics released unaudited Q2 interim earnings results. The company netted $12.1 million in sales thanks to product optimization. The company also updated investors on strategic initiatives aimed to improve financial performance. 

Kaixin Auto announced plans to enter into the smaller size electric vehicles market in China. The company has discussed mergers and acquisitions with a number of electric vehicle manufacturers. 

AMC entertainment is up after the meme-stock rally on Monday. The company is known for embracing its meme-stock status and winning support from retail investors. The company has also announced it would accept payment for tickets in Bitcoin by the end of 2021. 

BioHiTech, a sustainable technology and services company, announced its fiscal Q2 results. The company reached record revenues of $3.5 million, a 14% increase over Q1. 

Symbol Price Chg. Chg. % Volume
Kaixin Auto KXIN $3.32 +0.410 +14.09% 4.03M
Dynatronics DYNT $1.64 +0.3400 +26.15% 3.42M
AMC Entertainment AMC $36.43 +2.63 +7.78% 1.44M
BioHiTech BHTG $1.58 +0.1650 +11.66% 1.13M

 

Commodities To Watch

Oil recovered from a three-week low after Monday’s slump as rising demand in the U.S. and Europe outweighed concerns over the Delta variant spread in Asia. Gold strengthened. 

Price Chg. %
WTI Crude Oil $67.74 1.90%
Brent Crude Oil $70.10 1.54%
Natural Gas $4.05 -0.22%
Gold $1,730.60 0.24%
Silver $23.38 $0.00
Copper $4.32 0.71%
Soybeans $1,337.00 0.55%

 

Crypto

Crypto lost a lobbying battle as the bipartisan “crypto” provision was blocked. Despite that fact, institutional investors still seem to be backing crypto. 

Global cap global cap chg.%
$1.85T 0.69%

  

Symbol Price Chg. % Market Cap.
Bitcoin BTC $45,410.72 -0.65% $852.90b
Etherium ETH $3,137.17 +0.44% $365.89b
Cardano ADA $1.57 +6.60% $48.83b
Ripple XRP $0.8146 -0.60% $35.90b
Dogecoin DOGE $0.2524 -2.62% $33.01b

 

 

 

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