Bitcoin Surges, Gasoline Dips, US Real Yields Fall and Biggest Stock Movers


Bitcoin surged to its highest number in nearly six weeks, while US real yields fall to record low and Treasury yields drop, gasoline prices have dipped slightly; plus, we reveal the most significant premarket moves to start your week.

Bitcoin nears $40 K, the highest price in 6 weeks

For the first time since mid-June, Bitcoin surged above $39K, surging 15% and close to $39,681 as sentiment became bullish following a recent selloff. 

Bloomberg reported the rally was sparked by speculation over and involvement in the crypto industry by Inc.

According to other experts, several factors led to the surge, including bullish comments from Tesla CEO Elon Musk and Twitter CEO Jack Dorsey, CNBC reported.

US real yield falls to a record low

Bloomberg reported the real yield on 10-year debt in the US fell to a record low, dropping five basis points to minus 1.127%.

The ten-year breakeven rate, a market proxy for the average annual rate of consumer prices over the next decade, remains steady at 2.34%.

Bloomberg wrote that the numbers reveal investor concerns as the Delta variant threatens economic recovery.

Treasury yields down five basis points

A crackdown on the tech sector in China also sent the 10-year Treasury yields down to 1.23%.

Gas prices dip slightly

Gas prices across the nation dropped slightly by roughly $0.02. On Monday, July 26, 2021, the average price for a gallon of unleaded gasoline in the US was $3.156, according to the gas price tracker at AAA. The average price one week ago was $3.170, while the price one month ago was $3.092, and a year ago, $2.184.

California had the highest price in the nation at $4.332. Mississippi had the lowest gas price at $2.776.

The biggest pre-movers in stock this week

According to CNBC and premarket moves before the bell on Monday, the following stocks were making headlines:

Toymaker Hasbro jumped 2.6%.

Elevator and escalator giant Otis Worldwide rose 7 cents above estimates, with adjusted quarterly earnings of 79 cents per share.

Defense contractor Lockheed Martin slid a 2.6 percent sign in premarket trading.

Dutch health technology company Phillips fell 4.6% in premarket trading.

Check Point Software Technologies Ltd., which makes products for information technology and security, saw a 93% boost amid cybersecurity concerns and ransom attacks, beating estimates by 5 cents with adjusted quarterly earnings of $1.61 per share.