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Investing.com — Energy weighed on stocks Monday as rising cases of Covid-19 around the world have prompted fresh mandates and restraints on travel to slow the spread of the deadly virus.
Gold and oil prices fell sharply overnight heading into the U.S. trading session in new fears about outbreaks of cases linked to the highly contagious Delta variant in China, the world’s second-largest oil consumer.
Oil prices extended last week’s losses, and the U.S. dollar rose, which makes oil more expensive in other currencies.
Meanwhile, as U.S. lawmakers struck an agreement on cryptocurrency reporting as part of a broader $1 trillion infrastructure spending package, the price of Bitcoin hit a three-month high.
Earnings season is wrapping up though there are still reports due out this week from Walt Disney Company (NYSE:DIS), eBay Inc (NASDAQ:EBAY) and others. And consumer price inflation data is also expected out this week. Here are three things that could affect markets tomorrow:
1. Streaming wars
Fubotv Inc (NYSE:FUBO) is seen posting revenue of $121.43 million and a loss per share of 46 cents for the second quarter. Streaming has been in the headlines as giants like Netflix (NASDAQ:NFLX) battle it out with Disney and other media companies. Earlier today, Roku rose 2% after announcing a slate of new programming it will over over its own platform.
2. More earnings
Security software maker McAfee Corp (NASDAQ:MCFE) is expected to clock revenue of $434 million and earnings per share of 17 cents in the second quarter, according to analysts tracked by Investing.com. Data security has taken a more prominent role this year after news of major network hacks.
3. Crypto trading
Coinbase Global Inc (NASDAQ:COIN)s second-quarter EPS is seen at $2.31 on revenue of $1.73 billion. On Monday, crypto-related stocks rose after the U.S. Senate appeared to reach agreement on rules for crypto tax reporting.
