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.
U.S. stock dropped on the news, despite positive earnings results and the U.S. Fed’s accommodative monetary policy via low rates.
U.S. stock futures were steady in premarket trading, due to a mix of accommodative monetary policy and positive company earnings.
U.S. Dollar and Treasuries
U.S. Treasury yields held steady.
|U.S. Dollar Index (DXY):||92.51||-0.14||-0.16%|
|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.
|Vinco Ventures Inc||BBIG||$6.16||-0.96||-13.31%||39.05M|
Commodities To Watch
Oil dropped as U.S. producers assess the damage made by hurricane Ida. Gold strengthened.
|WTI Crude Oil||$68.50||-1.03%|
|Brent Crude Oil||$71.58||-0.90%|
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.|