OIL market:
Oil prices have decreased by more than 10% in the last week, to around $107. The black gold, on the other hand, has started to recover and has recovered more than $3 in the last 24 hours, before slightly dropping on Tuesday morning. Oil was priced at $109.50 at the time of publication. Oil prices are being pushed in two ways by two causes. Prices are rising as a result of tight supply caused by Russian oil sanctions, while demand is being stifled by poor global growth.
Cryptocurrencies:
Over the last 24 hours, Solana has gained more than 15%, Polkadot has gained more than 11 percent, while Cardano, Ethereum, and BNB have all gained more than 7%. At the time of writing, Bitcoin was trading at $21,000, up more than 4% in the previous 24 hours.
During Premarket hours today (Tuesday – 21.06.2022):
- Kellogg (Symbol: K) — Kellogg jumped +8.1% in premarket trading after announcing plans to split into three separate public companies. One entity will comprise the snack and international cereal businesses, another the U.S. cereal business and the third will be a pure-play plant-based food producer.
- Tesla (Symbol: TSLA) — Tesla added +3.2% in premarket action after CEO Elon Musk gave more details on the planned job cuts announced earlier this month. Musk told Bloomberg the company would cut salaried staff by about 10% over the next three months, resulting in an overall reduction of about 3.5%.
- Twitter (Symbol: TWTR) — In the same Bloomberg interview, Musk said there are still some unresolved matters regarding his deal to buy Twitter, including information about spam accounts and finalizing the deal’s financing. Meanwhile, a new SEC filing from Twitter recommends shareholders vote in favor of Musk’s $54.20-per-share takeover bid. Twitter added +1.2% in the premarket.
- Exxon Mobil (Symbol: XOM) — Exxon Mobil was upgraded to “outperform” from “neutral” at Credit Suisse, which pointed to Exxon’s investments in attractive oil and gas projects. Exxon Mobil added +2.6% in premarket action.
- Sunrun (Symbol: RUN) — The solar power company’s stock rose +2.5% in premarket trading after Goldman said Sunrun remained the best way to invest in residential solar growth. Goldman rates Sunrun “buy” while it downgraded rival SunPower (SPWR) to “sell” from “neutral.”
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