Gas Adds to Commodity Surge

Nasdaq futures are trading lower as surging commodity prices incite concern over inflation and whether it will derail a growth rebound and spoil a record stock rally. This threatens longer-horizon revenues typical of the industry. Treasury yields remain steady as we come into a busy week of auctions.

In regards to commodities, copper jumped to a record high while iron ore has surged over 10% - which is also another red flag for potential inflation. WTI and Brent crude oil have both seen gains as gasoline prices surged as much as 4.2% after a cyberattack forced closure of a key US pipeline. In premarket, Freeport McMoran’s share price has jumped 3.9% while US Steel corp  has risen 3.7%.

Tune in to hear what's moving Monday's market and where to trade to end up in green.