U.S. stock futures were up as the Fed reassured investors that it won’t stop printing money any time soon. Gold strengthened and the dollar dropped.
The Federal Reserve Open Market Committee decided not to raise interest rates from near-zero levels.
Federal Reserve Chairman Jerome Powell stated that the U.S. is still far away from “making substantial progress” to maximum employment and stable prices.
Many economists and investors (myself included) are concerned that this easy-money policy will lead to hyper inflation which could ultimately cause the Fed to have to slam the breaks on interest rates too aggressively — thereby leading to a bursting of asset bubbles. (Story continues below.)
Equities
U.S. futures rose early Thursday on the heels of the Fed’s announcement. Stocks were also favored by strong earnings reports. Investors were reassured by positive earnings from Airbus, Royal Dutch Shell and Ford.
| Level | Chg. | Chg. % | |
| DOW FUtures | 34,962.00 | 114 | 0.33 |
| S&P 500 Futures | 4,399.00 | 3.25 | 0.07 |
| Nasdaq Futures | 14,973.75 | -46.25 | -0.31 |
U.S. Dollar and Treasuries
Treasury yields increased as investors increased their exposure to stocks. The dollar fell on the Fed’s announcement of more money printing.
| Price | Chg. | Chg. % | |
| U.S. Dollar Index (DXY): | 92.05 | -0.27 | (-0.29%) |
| SYMBOL | YIELD | CHANGE |
| US 1-YR | 0.066 | UNCH |
| US 2-YR | 0.213 | +0.002 |
| US 5–YR | 0.741 | +0.001 |
| US 10-YR | 1.271 | +0.008 |
| US 20-YR | 1.841 | +0.01 |
| US 30-YR | 1.92 | +0.009 |
Stocks To Watch
Major Chinese tech stocks were up in premarket trading, as investors were looking for bargains after the Chinese tech crackdown. New Oriental Education and TAL Education were up.
Ride-sharing company Didi Global rebounded after founders announced going private to placate the Chinese government and compensate investors. The company faces unprecedented sanctions from Chinese authorities after defying warnings not to pursue the IPO.
A medical device company NanoVibronix Inc continuing its surge after the first successful shipment of its product PainShield on Monday. PainShield is an innovative ultrasound pain treatment device.
Cannabis product manufacturer Flora Group signed a letter of intent with an international Australia-based medical cannabis distributor.
| Symbol | Price | Chg. | Chg. % | Volume | |
| Didi Global | DIDI | 10.33 | +1.46 | +16.46% | 17.46M |
| New Oriental Education | EDU | 2.45 | +0.090 | +3.81% | 6.85M |
| NanoVibronix Inc | NAOV | 2.19 | +0.2800 | +14.66% | 2.74M |
| TAL Education | TAL | 6.83 | +0.43 | +6.72% | 2.72M |
| Flora Growth Corp | FLGC | 10.45 | +2.180 | +26.36% | 2.51M |
Commodities To Watch
Oil strengthened on reduced inventories, despite concerns over the Delta variant impacting global demand. Gold surged on as investors seek refuge from the Fed’s easy money policy.
| Price | Chg. % | |
| WTI Crude Oil | $72.57 | +0.25% |
| Brent Crude Oil | $74.07 | +0.27% |
| Natural Gas | $3.96 | -0.15% |
| Gold | $1,821.60 | +1.22% |
| Corn | $550 | +0.18% |
Crypto
The global crypto market cap decreased 0.30% in the last 24 hours.
| Symbol | Price | Chg. % | |
| Bitcoin | BTC | $40,182.88 | -0.14% |
| Ethereum | ETH | $2,311.45 | +0.18% |
| Binance Coin | BNB | $314.71 | -0.32% |
| Cardano | ADA | $1.28 | -1.60% |
| Ripple | XRP | $0.7076 | -3.05% |
| Dogecoin | DOGE | $0.2051 | -2.10% |
