Phunware Stocks On Rally Mode

Phunware, Inc. (PHUN) shares are gaining more than 15 percent on Monday morning trade continuing a surge since July 6. The surge of Digital World Acquisition (DWAC) today morning might have an impact on Phunware, a mobile software and blockchain company, that previously supported Trump Campaign.

Currently, shares are trading at $1.40, up 15.51 percent from the previous close of $1.22 on a volume of 21,910,326.

Yum China Holdings Slips 6%

Shares of restaurant chain Yum China Holdings, Inc. (YUMC) are down 6 percent on Monday’s trading. The stock movement seems to be in line with the U.S stock market, which is down early Monday morning.

There has not been any company announcement to influence the stock. The company will report its second-quarter results on July 28.

Currently at $45.82, the stock has traded between $33.55 and $66.26 during the past 52 weeks.

Digital World Acquisition Continues To Spike

Digital World Acquisition Corp. (DWAC) shares are surging more than 23 percent continuing an uptrend since Elon Must walked out of an agreement to purchase Twitter. On June 9, shares of Digital World started to climb after Musk’s termination of a $44 billion deal.

Digital World is a SPAC created to acquire companies to set up an alternative social media – Truth Social and backed by former President Trump.
Currently, DWAC shares are at $29.20, up 19.09 percent from the previous close of $24.52 on a volume of 4,119,487. The shares have traded in a range of $9.84-$175.00 on average volume of 1,855,341.

U.S. Reports 21K New Covid Cases, 9 Deaths

With 21,068 new cases reported on Sunday, the total number of people that have been infected with the coronavirus in the United States has risen to 88,595,176, as per Johns Hopkins University’s latest data.

Nine additional deaths on the same day took the total U.S. Covid casualties to 1,020,868.

Texas reported the most number of cases – 11,120 – and deaths – 5.

Covid deaths have decreased by 7 percent, while cases have increased by 5 percent in the last two weeks, New York Times’ latest tally shows.

More than 37,000 people are currently in American hospitals with the coronavirus, an increase of 18 percent over the last two weeks. More than 4,200 of these patients are admitted in intensive care units, marking a 20 percent rise in a fortnight.

85,789,558 people have so far recovered from the disease, the Worldometer tally shows.

583 additional deaths were reported globally on Sunday, taking the total number of people who lost their lives due to the pandemic so far to 6,351,433.

Wynn Resorts Slips 9% After Macau Imposes COVID-19 Curbs

Shares of Wynn Resorts Ltd (WYNN) are trading down 9 percent on Monday. Shares of the company, which operates casinos in Macau, were negatively impacted by news of Macau city officials announcing that casinos there would be shut down for a week to fight a COVID-19 surge. The stock has been trending down since July 7.

Currently at $51.62, the stock has traded between $50.20 and $114.10 during the past 52 weeks.

Fried Okra, Beyond the Batter

The classic Southern dish does more than just nourish: It tells a bigger story of the Black American cooks who have preserved its legacy, while creating their own versions.

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By Kayla Stewart

Gold Futures Settle Lower As Dollar Soars On Rate Hike Expectations

Gold prices fell on Monday as the dollar climbed higher against most major currencies on safe-haven demand amid recession worries as Russia turned off Nord Stream 1 for annual maintenance.

Following Russia’s decision to turn off Nord, the biggest pipeline carrying Russian gas to Germany, the latter has warned that Moscow could halt gas flows permanently. It is feared the shutdown might be extended due to the war in Ukraine.

Last week’s stronger-than-expected jobs data has added to expectations of another 75-basis points rate hike by the Fed at the upcoming meeting later this month.

The dollar index surged to a fresh near two-decade high to 108.19 before paring some gains. It was last seen hovering around 108.00, up nearly 1% from the previous close.

Gold futures for August ended down by $10.60 or about 0.6% at $1,731.70 an ounce.

Silver futures for September ended lower by $0.104 at $19.132 an ounce, while Copper futures for September settled at $3.4305 per pound, down $0.0915 from the previous close.

Traders largely stayed cautious, looking ahead to the release of reports on consumer and producer price inflation, retail sales and industrial production later this week.

360 DigiTech Shares Continue Downward Spiral

Shares of credit tech platform 360 DigiTech, Inc. (QFIN) are down 10 percent on Monday’s trading continuing their downward movement since the past few days. There has not been any company announcement to influence the stock.

Currently at $13.93, the stock has traded between $11.15 and $31.27 during the past 52 weeks.

Three-Year Note Auction Attracts Average Demand

The Treasury Department kicked off this week’s series of announcement of the results of its long-term securities auctions on Monday, revealing this month’s auction of $43 billion worth of three-year notes attracted average demand.

The three-year note auction drew a high yield of 3.093 percent and a bid-to-cover ratio of 2.43.

Last month, the Treasury sold $44 billion worth of three-year notes, drawing a high yield of 2.927 percent and a bid-to-cover ratio of 2.45.

The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.

The ten previous three-year note auctions had an average bid-to-cover ratio of 2.44.

The Treasury is due to announce the results of this month’s auctions of $33 billion worth of ten-year notes and $19 billion worth of thirty-year bonds on Tuesday and Wednesday, respectively.