Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Toward the end of trading Thursday, the Dow traded down 1.33 percent to 24,696.17 while the NASDAQ declined 1.08 percent to 7,194.52. The S&P also fell, dropping 1.08 percent to 2,684.30.
Leading and Lagging Sectors
Thursday afternoon, the non-cyclical consumer goods & services shares gained 0.29 percent.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
In trading on Thursday, technology shares tumbled 1.16 percent. Meanwhile, top losers in the sector included Overstock.com Inc (NASDAQ:OSTK), down 4 percent, and Formula Systems (1985) Ltd. (ADR) (NASDAQ:FORTY) down 6 percent.
Top Headline
Best Buy Co Inc (NYSE:BBY) reported stronger-than-expected results for its fourth quarter.
The company said it earned $2.42 per share in the fourth quarter on revenue of $15.3 billion versus expectations of $2.04 per share on revenue of $14.5 billion.
Best Buy expects FY19 sales of $41 billion to $42 billion and earnings of $4.80 to $5.00 per share. The company projects Q1 sales of $8.65 billion to $8.75 billion and earnings of $0.68 to $0.73 per share.
Equities Trading UP
Tenax Therapeutics Inc (NASDAQ:TENX) shares shot up 105 percent to $9.49 as the company reported the publication of preclinical data showing added evidence of levosimendan treatment effects in pulmonary hypertension.
Shares of Jason Industries, Inc. (NASDAQ:JASN) got a boost, shooting up 28 percent to $2.80. Jason Industries reported Q4 adjusted loss of $0.01 per share on sales of $145.5 million.
AxoGen, Inc. (NASDAQ:AXGN) shares were also up, gaining 15 percent to $33.55 as the company posted a narrower-than-expected quarterly loss.
FREE REPORT: How To Learn Options Trading Fast
In this special report, you will learn the four best strategies for trading options, how to stay safe as a complete beginner, a 411% trade case study, PLUS how to access two new potential winning options trades starting today.Claim Your Free Report Here.
Equities Trading DOWN
Colony NorthStar, Inc. (NYSE:CLNS) shares dropped 26 percent to $5.76. Colony NorthStar reported a Q4 GAAP loss of $0.69 per share and announced a $300 million buyback plan.
Shares of Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) were down 26 percent to $31.34. Portola Pharma reported Q4 loss of $1.41 per share.
.
Patterson Companies, Inc. (NASDAQ:PDCO) was down, falling around 25 percent to $23.70 following weaker-than-expected quarterly earnings.
Commodities
In commodity news, oil traded down 0.65 percent to $61.24 while gold traded down 0.49 percent to $1,311.40.
Silver traded down 0.13 percent Thursday to $16.385, while copper fell 0.16 percent to $3.1275.
Eurozone
European shares closed lower today. The eurozone’s STOXX 600 fell 1.26 percent, the Spanish Ibex Index fell 1.03 percent, while Italy’s FTSE MIB Index slipped 0.70 percent. Meanwhile the German DAX dropped 1.97 percent, and the French CAC 40 fell 1.09 percent while U.K. shares fell 0.78 percent.
Economics
Initial jobless claims declined 10,000 to 210,000 in the latest week. Economists expected claims to reach 226,000.
U.S. consumer spending rose 0.2 percent for January, while real disposable income rose 0.9 percent.
The Markit manufacturing PMI slipped to 55.30 for April, versus prior reading of 55.50. Economists expected a reading of 55.90.
U.S. construction spending was unchanged for January.
The ISM manufacturing index climbed to 60.8 in February, versus 59.1 in January. However, economists expected a reading of 59.
Data on money supply for the recent week will be released at 4:30 p.m. ET.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.