S&P futures fell (although Nasdaq futs rose) and commodities – especially gold and oil – tumbled as investors fretted over concerns about stimulus tapering and a resurgence in the fast-spreading delta virus variant. Yields dropped tumbled and the dollar steadied. S&P 500 E-minis were down 6.25 points, or 0.14%, Dow E-minis were down 112  points, or 0.32%, while Nasdaq 100 E-minis were up 22.5 points, or 0.15%.

S&P 500 contracts dropped after the underlying index closed at a record on Friday.  Expectations that the Federal Reserve may soon start paring back its massive monetary stimulus were fanned by comments from Dallas Fed President Robert Kaplan. In U.S. premarket trading, cryptocurrency-exposed stocks such as Bit Digital (BTBT) and Riot Blockchain (RIOT) soared after Bitcoin and Ether prices spiked over the weekend. Future Fintech (FTFT) also jumped 15% after the blockchain e-commerce company was touted on Reddit and StockTwits. Other cryptocurrency-exposed stocks. 

Here are some of the other notable pre-market movers:

• BioVie Inc. (BIVI) slumps 30% in premarket trading after the company offered 2.5 million shares at $8 each, implying a discount from the level it closed on Friday.
• Epizyme Inc. (EPZM) soars 16% after announcing a deal with Hutchmed China to develop Tazverik, a medicine used to treat certain patients with epithelioid sarcoma and others with follicular lymphoma.
• Tesla (TSLA) gained as much as 1.6% as Jefferies upgrades the stock to buy on earnings momentum.
• Sanderson Farms Inc (SAFM.O) gained 5.8% after agreeing to be acquired by Cargill and Continental Grain Co for $4.5 billion deal.

MORE