Trish Regan’s Market Notes: U.S. Stocks Slip As ECB Considers Tapering

U.S. stocks dropped Monday from record highs amid news that the European Central Bank (ECB) is also discussing the need to reassess its pandemic stimulus program.

ECB Governing Council member Robert Holzmann stated that Europe is at the point in recovery where the ECB can consider scaling back bond purchases.

The market doesn’t quite agree.

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U.S. stock dropped on the news, despite positive earnings results and the U.S. Fed’s accommodative monetary policy via low rates.

Equities

U.S. stock futures were steady in premarket trading, due to a mix of accommodative monetary policy and positive company earnings.  

Level Chg. Chg. %
DOW  35,415 +13 +0.04%
S&P 500  4,525.00 -3.25 -0.07%
Nasdaq COMP 15,220.00 -45 -0.31%

U.S. Dollar and Treasuries

U.S. Treasury yields held steady. 

Price Chg. Chg. %
U.S. Dollar Index (DXY): 92.51 -0.14 -0.16%

 

Yield Change Previous close
U.S. 1 Year Treasury Bill 0.071% 0.002 0.069%
U.S. 2 Year Treasury Note 0.203% -0.004 0.207%
U.S. 5 Year Treasury Note 0.774% 0.002 0.772%
U.S. 10 Year Treasury Note 1.284% 0.015 1.280%
U.S. 20 Year Treasury Bond 1.830% 0.009 1.821%
U.S. 30 Year Treasury Bond 1.906% 0.006 1.899%

Stocks To Watch

Sonnet BioTherapeutics announced SON-1410, a new candidate for targeting melanoma and renal cancers, based on preclinical studies.

Zoom Video dropped after the company said that revenues will likely slow due to companies returning to office work.

Satellite tech company Globalstar dropped in premarket trading after gaining more than 60% during Monday’s regular hours. The stock spiked due to an announced deal with Apple that could reportedly bring satellite communications to Apple’s devices. 

Investment company Vinco Ventures was steady in premarket trading after gaining more than 180% on Monday as a short-squeeze target.  

Regional Health, a healthcare real estate investment company, was targeted by retail investors due to its low float (numbers of traded shares). The stock is up 50% almost in premarket trading. 

Shares of trading app company Robinhood dropped after the Securities and Exchange Commission stated that it could ban payment for order flow, a significant revenue stream for trading apps.

Symbol Price Chg. Chg. % Volume
Sonnet Biotherapeutics SONN $0.72 +0.16 +27.91% 55.51M
Zoom Video ZM $289.00 -58.34 -16.25% 12.9M
Globalstar Inc GSAT $2.04 -0.31 -13.19% 47.11M
Vinco Ventures Inc BBIG $6.16 -0.96 -13.31% 39.05M
Regional Health RHE $11.96 +3.55 +43.92% 15.16M
Robinhood HOOD $42.87 -0.76 -1.83% 3.35M

Commodities To Watch

Oil dropped as U.S. producers assess the damage made by hurricane Ida. Gold strengthened. 

Price Chg. %
WTI Crude Oil $68.50 -1.03%
Brent Crude Oil $71.58 -0.90%
Natural Gas $4.27 -0.86%
Gold $1,815.00 0.15%
Silver $24.11 0.61%
Copper $4.35 -0.65%
Soybeans $1,303.00 -0.02%

Crypto

The global crypto market cap is $2.11T, a 2.71% increase over the last 24 hours. Bitcoin’s dominance is currently 42.67%, a decrease of 0.92% in the same period.

Symbol Price Chg. % Market Cap.
Bitcoin BTC $47,942.28 0.18% $901.44b
Etherium ETH $3,427.15 7.66% $400.69b
Cardano ADA $2.85 1.69% $88.74b
Ripple XRP $1.14 1.40% $50.43b
Dogecoin DOGE $0.2794 0.72% $36.62b

 

 

 

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