Pre-market Movers: BBAI, SNAP, CANG, BGXX, NLS…

The following are some of the stocks making big moves in Tuesday’s pre-market trading (as of 07.00 A.M. ET).

In the Green

Decisionpoint Systems, Inc. (DPSI) is up over 14% at $6.31
SELLAS Life Sciences Group, Inc. (SLS) is up over 14% at $3.65
Insulet Corporation (PODD) is up over 11% at $225.25
Aerojet Rocketdyne Holdings, Inc. (AJRD) is up over 7% at $42.99
BRC Inc. (BRCC) is up over 7% at $10.47
Zoom Video Communications, Inc. (ZM) is up over 5% at $94.62
Diana Shipping Inc. (DSX) is up over 5% at $6.33

In the Red

BigBear.ai Holdings, Inc. (BBAI) is down over 30% at $7.00
Snap Inc. (SNAP) is down over 29% at $15.75
Cango Inc. (CANG) is down over 18% at $2.95
Bright Green Corporation (BGXX) is down over 15% at $11.24
Nautilus, Inc. (NLS) is down over 15% at $2.13
Pinterest, Inc. (PINS) is down over 12% at $19.75
Inspirato Incorporated (ISPO) is down over 10% at $4.64
The Beauty Health Company (SKIN) is down over 9% at $11
Lixiang Education Holding Co., Ltd. (LXEH) is down over 9% at $2.85
Elbit Systems Ltd. (ESLT) is down over 8% at $202.24
NanoViricides, Inc. (NNVC) is down over 8% at $2.03
Meta Platforms, Inc. (FB) is down over 6% at $182.70

Oil Hits Two-month High After EU Sanctions

Oil prices extended gains Tuesday to reach fresh two-month highs after the European Union agreed to ban most Russian oil imports by the end of the year as part of new measures designed to punish Russia over its invasion of Ukraine.

Improved PMI data from China and signs of fewer Covid-19 infections in Beijing over the weekend also raised hopes that oil demand will pick up again in China.

Brent crude futures for August delivery jumped 1.8 percent to $119.75 in European trade, while WTI futures for July settlement were up 1.7 percent at $119.10.

The EU ban on Russian oil imports agreed in principle late Monday is expected to tighten an already strained crude market.

It is expected that the ban will effectively cut around 90 percent of oil imports from Russia to the EU by the end of 2022.

Meanwhile, the latest PMI figures from China showed another month of contraction in services and manufacturing activity, though at a reduced pace of decline amid easing COVID-19 curbs and signs of support from authorities.

Gold Slips As Dollar Rebounds On Rate Hike Worries

Gold prices edged lower on Tuesday, the dollar rose against its major peers and U.S. Treasury yields edged up amid worries about Fed and ECB policy tightening.

Spot gold slipped 0.3 percent to $1,850.37 per ounce, while U.S. gold futures were down 0.2 percent at $1,853.

In a speech at the Institute for Monetary and Financial Stability in Frankfurt, Germany, Federal Reserve governor Christopher Waller said that he favored 50 basis point hike at every meeting until there is a substantial reduction in inflation.

Eurozone inflation accelerated further in May on surging energy and food prices, flash data from Eurostat showed earlier today.

Inflation rose to a fresh record 8.1 percent in May from 7.4 percent in April. The rate was forecast to climb to 7.7 percent.

The data heightened concerns about the pace and scale of looming interest rate hikes, with traders now factoring in an outsized 50 basis point ECB rate hike in July.

German inflation rose to its highest level in nearly half a century in May on the back of soaring energy and food prices, data released on Monday showed.

Looking ahead, Canada GDP data for the first quarter, U.S. FHFA’s house price index and S&P/Case-Shiller home price index for March and consumer confidence index for May will be featured in the New York session.

Pre-market Movers: TXMD, CTT, PEGY, AUY, FRO…

The following are some of the stocks making big moves in Tuesday’s pre-market trading (as of 07.40 A.M. ET).

In the Green

TherapeuticsMD, Inc. (TXMD) is up over 344% at $9.51
CatchMark Timber Trust, Inc. (CTT) is up over 34% at $11.15
Pineapple Energy Inc. (PEGY) is up over 17% at $2.83
Yamana Gold Inc. (AUY) is up over 15% at $5.96
Sunlands Technology Group (STG) is up over 12% at $5.30
Save Foods, Inc. (SVFD) is up over 7% at $4.25
Venator Materials PLC (VNTR) is up over 5% at $2.40

In the Red

Frontline Ltd. (FRO) is down over 12% at $9.97
Gold Fields Limited (GFI) is down over 11% at $10.74
ARC Document Solutions, Inc. (ARC) is down over 11% at $2.75
Avadel Pharmaceuticals plc (AVDL) is down over 11% at $2.21
Eton Pharmaceuticals, Inc. (ETON) is down over 10% at $2.83
Nyxoah S.A. (NYXH) is down over 8% at $11.87

Russia Captures Part Of Eastern Ukrainian City

The Russian forces who are advancing in eastern Ukraine with continuous bombardment have captured half of the city of Severodonetsk, reports said.

“The front line has cut (Severodonetsk) into two halves,” city head Oleksandr Stryuk told Ukrainian TV. Luhansk regional Governor Serhiy Haidai described it as “a grave situation there.”

The Norwegian Refugee Council said that thousands of civilians remain trapped in crossfire in the city without sufficient access to water, food, medicine or electricity.

“I am horrified to see Severodonetsk, the thriving city where we had our operational headquarters, become the epicenter of yet another chapter of the brutal war in Ukraine,” said Jan Egeland, Secretary-General of the Norwegian Refugee Council.

European Union leaders agreed on Monday to cut oil imports from Russia by 90 percent by the end of the year as part of a new sanctions package targeting that country. Pipeline imports will be exempt from the sanctions.

U.S. President Joe Biden has ruled out reports that his administration is planning to send long-range rocket systems to Ukraine.

CNN had reported that Washington is preparing to approve advanced, long-range rocket systems for Ukraine.

“We’re not going to send to Ukraine rocket systems that can strike into Russia,” Biden told a reporter after Marine One Arrival on Monday.

Responding to this, Ukraine’s Presidential advisor Oleksiy Arestovych said rockets with ranges of around 70 kilometers would be “more than enough” for the Ukrainian army to repel Russian offensives.