U.S. futures dipped amid increasing risk in China as the Evergrande crisis unfolds on Friday.
Evergrande, the indebted Chinese developer, missed its $83.5 million dollar-denominated coupon bond payments on Thursday.
As of late afternoon Thursday, foreign bondholders had not received the money. The company could make its payments late – it has a 30-day grace period before it would be considered a default. If it does default, however, it would be the biggest default in by a company in Asia.
Meanwhile, investors will also react to weakening new home sales data.
Sales were expected to rise 1%, the same as in July – instead, new home sales fell 5.9% in May, and April’s sales were revised lower. Median new home prices, meanwhile, jumped 18.1% from a year ago.
And, cryptos could face a new challenge amid news that the People’s Bank of China is calling crypto transactions “illegal and strictly prohibited.”
|S&P 500 Futures||4,419.50||-18.5||-0.42%|
U.S. Dollar and Treasuries
The yield on the 10-year Treasury fell one basis point. The dollar weakened against a basket of major currencies.
|U.S. Dollar Index (DXY):||93.32||-0.14||-0.15%|
|U.S. 1 Year Treasury Bill||0.078%||0.001||0.076%|
|U.S. 2 Year Treasury Note||0.263%||0.001||0.263%|
|U.S. 5 Year Treasury Note||0.937%||-0.009||0.947%|
|U.S. 10 Year Treasury Note||1.426%||-0.009||1.435%|
|U.S. 20 Year Treasury Bond||1.882%||-0.011||1.894%|
|U.S. 30 Year Treasury Bond||1.929%||-0.017||1.946%|
Stocks To Watch
vTv Therapeutics announced positive results from multiple ascending dose study of HPP737, an orally administered phosphodiesterase type 4. The company focuses on orally administered treatments for type 1 diabetes and psoriasis.
Zivo Biosciences was up on retail investor interest, despite no company-related news.
Shares of Capricor Therapeutics rose after the announcement that the company will present at two industry and investor conferences. The company specializes in transformative cell and exosome-based therapeutics for the treatment of a broad specter of conditions.
|vTv Therapeutics In.||VTVT||$2.13||+0.360||+20.34%||6.71M|
|Zivo Bioscience Inc.||ZIVO||$6.55||+3.100||+89.86%||4.33M|
Commodities To Watch
Oil was stable on declining output. Gold was slightly up.
|WTI Crude Oil||$73.17||-0.18%|
|Brent Crude Oil||$76.41||-0.07%|
The People’s Bank of China issued a new statement calling all crypto transactions “illegal and strictly prohibited.”
The global crypto market cap is $1.83T, a 6.46% decrease over the last 24 hours. Bitcoin’s dominance is currently 42.46%, an increase of 0.34% in the same period.
|Symbol||Price||Chg. %||Market Cap.|