U.S. Stock Futures Are Lower With Continuing Uncertainty From A Weaker Than Expected Jobs Report #AAA #Bitcoin #SEC
U.S. stock futures are lower: Higher global energy prices and continuing uncertainty from a weaker than expected jobs report are negatively impacting equity futures. West Texas Intermediate crude increased 3.5% this morning and as per AAA, the average gasoline prices at the pump was $3.27 per gallon, reflecting tightening energy supply/demand imbalances. Even with the weaker September jobs report, yields on the 10y & 30y treasury closed higher. Concerns regarding higher inflation drove yields higher. The bond market is closed today. This week starts earning releases first from the major banks: 3Q’21 earnings are anticipated to have increased 27.6% year over year and represents the fastest growth since 2010. Investors will be analyzing the releases for inflationary issues related to supply-chain disruptions, labor shortages and higher global input prices. Bitcoin prices are trading at $56,322 amid speculation regarding that the SEC might approve a bitcoin futures exchange traded fund in the next few weeks.. International markets are mixed.