Morning Briefing: Biden weighs new executive order restraining big business

Moomoo Breakfast US wrote a column · Jun 30, 2021 06:09

Morning Briefing: Biden weighs new executive order restraining big business

By Jimmy

Good morning moomooers! Here are things you need to know before the opening bell:
- U.S. stock futures were slightly lower Wednesday as the market gets set to close out a winning first half of 2021 and second quarter.
- Stocks making the biggest moves in the premarket: Exela Technologies Vertex Energy, Marin Software, JinkoSolar, Verb Technology &more

Market Snapshot

U.S. stock futures were slightly lower Wednesday as the market gets set to close out a winning first half of 2021 and second quarter.

Futures on the $Dow Jones Industrial Average(.DJI.US)$implied an opening loss of about 60 points. Futures on the $S&P 500 Index(.SPX.US)$shed around 0.1%, while $Nasdaq Composite Index(.IXIC.US)$futures lost less than 0.1%.

Source: Bloomberg

Crypto

The two top cryptocurrencies by market capitalization $Bitcoin(BTC.CC)$and $Ethan Allen Interiors Inc(ETH.US)$were down 3.91% and 3.62% at $34,819 and 2,133 respectively over 24 hours.
Major cryptocurrencies traded higher on Tuesday night with $ETC(ETC.CC)$and $Bitcoin Gold(BTG.CC)$emerging as top gainers as the global cryptocurrency market cap rose 2.93% to $1.46 trillion.
The surge in ETC comes after developers titled "Magneto." This upgrade will be inclusive of Ethereum's Berlin upgrade features, as per Stevan Lohja, developer relations manager for Mantis — a client and wallet for Ethereum Classic.

Source: moomoo

Premovers

Stocks making the biggest moves in the premarket: Exela Technologies Vertex Energy, Marin Software, JinkoSolar, Verb Technology&more
$Exela Technologies(XELA.US)$Exela Technologies shares surged in premarket after the company deployed its robotic process automation platform for a large health insurance company.

$Vertex Energy(VTNR.US)$Vertex, a leading specialty refiner and marketer of high-quality refined products, today announced that it has entered into a definitive agreement to sell its portfolio of used motor oil collection and recycling assets to Safety-Kleen Systems, a subsidiary of Clean Harbors for a total cash consideration of $140 million, subject to working capital and other adjustments.

$Marin Software(MRIN.US)$Marin Software, last week, announced it has added the ability to manage Instacart Ads to its flagship MarinOne platform.

$JinkoSolar(JKS.US)$JinkoSolar Holding Co, one of the largest and most innovative solar module manufacturers in the world, announced that the application documents regarding a potential initial public offering and listing of the shares of Jinko Solar, a principal operating subsidiary of JinkoSolar, had been submitted to and received by the Shanghai Stock Exchange.

$Verb Technology(VERB.US)$Verb Tech shares are up in pre-market after Ascendiant Capital analyst Edward Woo starts coverage with a Buy rating

Top News

High-frequency trader Hudson River to execute retail stock trades

The firm aims o enter the retail wholesaler business by early 2022, taking on Citadel Securities and Virtu Financial.

Treasury yields signal investors' waning economic exuberance

The yield on the 10-year note fell roughly a quarter-percentage point in second quarter as traders scaled back expectations for fiscal and monetary stimulus.

Biden weighs new executive order restraining big business

The action under consideration would go beyond traditional antitrust enforcement and would likely face legal challenges from businesses and conservative legal groups.

Chinese companies keep record momentum going for Hong Kong IPOs

Several mainland Chinese companies started taking share orders from investors on Wednesday, looking to raise a combined US$1.47 billion in an indication of the appetite for Hong Kong's white-hot equities market.

U.S. manufacturing sector held robust momentum in May

U.S. manufacturing activity continued to expand strongly in May as demand remained strong, but supply-chain bottlenecks and labor shortages weighed on manufacturers and constrained growth in factory output.

Oil hits two-year price high as OPEC sees demand rebound

The price of oil was on course to close above $70 a barrel for the first time in two years on investors' optimism that improving oil demand and a dwindling supply glut may mean the market can absorb any additional supply from OPEC and its allies.

The Wall Street players who worry inflation heralds wild markets

Some investors are preparing for wild swings in financial markets, worried that inflation, and the Federal Reserve's pledge to let it rise, will lead to a more volatile world.

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