Trish: Stocks Inch Higher, But Bears Still Circling

U.S. stocks inched higher in Friday morning trading despite fears of slowing growth tied to the Delta variant, a Chinese regulatory crackdown, and increasing concerns over the Fed’s plan to taper bond purchases in 2021. (Story continues below.)

Equities

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U.S. stock futures moved higher alongside some safe-haven assets, like gold, the U.S. dollar. 

Level Chg. Chg. %
DOW  34,997.93 +110.71 +0.32%
S&P 500  4,424.03 +18.23 +0.42%
Nasdaq  14,634.67 +95.6 +0.66%

 

U.S. Dollar and Treasuries

U.S. Treasury yields crept up as investors hedged their bets and the dollar strengthened. The ten year note traded at a yield of 1.249%. 

Price Chg. Chg. %
U.S. Dollar Index (DXY): 93.67 +0.10 (+0.11%)
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Stocks To Watch

GeoVax Labs, a biotech company specializing in vaccines and cancer immunotherapies presented data on its ongoing studies of its COVID-19 vaccine. The company presented data on “Design of a Universal SARS-CoV-2 Vaccine Against Evolving Variants” during the European Society of Medicine (ESMED) General Assembly. The media spotlight helped push the stock up, despite getting a negative rating from InvestorsObserver the same day. 

Sonnet Biotherapeutics dropped from a retail-investor-driven surge, as shorts stopped covering their positions and retail investors took profits. 

Stocks of Naked Brand were up after a favorable article on the Nasdaq blog was released. The blog highlighted that NAKD shareholders earned a 103% return over the last year. 

 

Symbol Price Chg. Chg. % Volume
GeoVax Labs Inc GOVX $7.37 +3.070 +71.40% 11.90M
Sonnet Biotherapeutics SONN $0.67 -0.555 -45.49% 5.41M
Naked Brand NAKD $0.59 +0.0884 +17.61% 4.75M

 

Commodities To Watch

Oil continues to fall for a sixth day straight, sinking to the lowest level since May. Investors were concerned about slowing demand and economic growth. Gold strengthened. 

Price Chg. %
WTI Crude Oil $62.78 -1.13%
Brent Crude Oil $65.73 -1.08%
Natural Gas $3.91 2.14%
Gold $1,786.50 0.19%
Silver $23.19 $0.00
Copper $4.06 0.46%
Soybeans $1,320.50 0.04%

 

Crypto

The global crypto market cap is $2.04T, a 7.07% increase over the last day. Bitcoin’s dominance is currently 43.46%, a decrease of 0.38% over the day. 

Symbol Price Chg. % Market Cap.
Bitcoin BTC $46,974.56 +6.30% $882.74b
Etherium ETH $3,208.07 +7.95% $374.59b
Cardano ADA $2.50 +21.35% $77.63b
Ripple XRP $1.24 +13.11% $54.66b
Dogecoin DOGE $0.3184 +7.63% $41.69b

 

 

 

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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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