Forex:
- At 3:05 ET (07:05 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded -0.1% lower at 108.733, after dropping back from 109.48 overnight, a level not seen since September 2002.
- EUR/USD edged higher to 0.9997, after rallying 0.3% on Monday, its biggest rise in almost three weeks.
- GBP/USD rose +0.1% to 1.1721, recovering from an almost 2-1/2-year low of 1.1649 reached on Monday
- USD/JPY fell -0.2% to 138.49, after rising to 139 overnight for the first time since mid-July
Commodities:
- Gold futures broke above $1,750 an ounce with a similar gain by 21:07 ET (01:07 GMT).
- Copper futures rose +0.3% to $3.6108 a pound
- Brent crude (UKOIL) futures for October settlement fell $3.81, or -3.63%, to $101.28 a barrel by 1156 GMT, after hitting a session low of $100.90 a barrel.
- U.S. West Texas Intermediate crude (USOIL) was at $94.12 a barrel, down $2.89, or -2.98%.
During Market hours on Yesterday (Monday – 08.08.2022):
- The Dow (Symbol: DIA) went down -0.57%. The S&P 500 (Symbol: SPY) lost -0.66%. and the Nasdaq (Symbol: QQQ) fell -0.99%.
- Pinduoduo (Symbol: PDD) — Pinduoduo surged +14.7% after topping estimates in the recent quarter on the top and bottom lines. The China-based e-commerce giant said a recovery in consumer sentiment helped results.
- Netflix (Symbol: NFLX) — Shares of the streaming giant rose +0.6% after a Bloomberg report that its ad tier could cost between $7 and $9 a month.
- Bristol-Myers Squibb (Symbol: BMY) — Shares of Bristol-Myers Squibb slumped -6.2% after the company reported results from a midstage trial of its developing stroke treatment that failed to meet the main objective of the study.
- Energy stocks — Energy stocks jumped in tandem with oil prices rose on news of a potential OPEC+ supply cut. Shares of Diamondback Energy (Symbol: FANG), Marathon Oil (Symbol: MRO), Occidental (Symbol: OXY) and Exxon Mobil (Symbol: XOM) rose from +2.3% to +4.0%.
- Catalent Inc. (Symbol: CTLT) – Shares of pharmaceutical company Catalent fell -7.4% after earnings that disappointed Wall Street. While Catalent beat expectations for earnings, its revenue and full-year outlook were below estimates.
During Premarket hours today (Tuesday – 09.08.2022):
- Best Buy (Symbol: BBY) – Best Buy gained +2.6% in the premarket after the electronic retailer beat Street forecasts on the top and bottom lines for its latest quarter, while comparable store sales declined less than expected.
- First Solar (Symbol: FSLR) – First Solar rose +1.9% in premarket action after announcing it would spend $1.2 billion to expand U.S.-based manufacturing, including a new factory in the southeast. The solar equipment maker earlier this year had said it was unlikely to build new U.S. facilities, but changed its strategy due to the tax incentives provided by the recently passed Inflation Reduction Act.
- Twitter (Symbol: TWTR) – Twitter fell -1% in premarket trading after Elon Musk sent a second deal termination notice. Musk first announced he was pulling out of his $44 billion deal to buy Twitter in early July. The second notice – detailed in an SEC filing – gives additional reasons for pulling out, including the contention that allegations detailed in the recent whistleblower complaint could have severe consequences for Twitter’s business.
- Baidu (Symbol: BIDU) – Baidu reported better-than-expected profit and revenue for its latest quarter, with the China-based search engine company seeing a recovery in ad sales and stronger demand for its cloud-based offerings. Baidu shares added +3.8% in the premarket.
- Bed Bath & Beyond (Symbol: BBBY) – The housewares retailer’s stock surged +11.7% in the premarket after soaring 25% yesterday. The company – popular among “meme stock” traders – will deliver a business and strategic update Wednesday.
- SolarEdge Technologies (Symbol: SEDG) – SolarEdge could be subject to an import ban, depending on the results of an International Trade Commission probe. Smaller solar equipment rival Ampt claims that SolarEdge’s power optimizers and inverters infringe two of its patents. SolarEdge gained +1% in premarket trading.
- Peloton (Symbol: PTON) – Peloton needs more time to file its annual report for the year ending June 30, according to an SEC filing. The fitness company said it is still in the process of sorting out accounting related to its planned restructuring. The stock rose +1.4% in the premarket.
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