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.
Following the market opening Friday, the Dow traded up 0.41 percent to 25,391.00 while the NASDAQ declined 0.11 percent to 7,251.27. The S&P also rose, gaining 0.21 percent to 2,735.93.
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Friday morning, the energy shares climbed 1.2 percent. Meanwhile, top gainers in the sector included Obsidian Energy Ltd (NYSE:OBE) up 19 percent, and Baytex Energy Corp (NYSE:BTE) up 6 percent.
In trading on Friday, consumer discretionary shares fell 0.5 percent.
Top Headline
Viacom, Inc. (NASDAQ:VIAB) reported stronger-than-expected results for its fourth quarter.
Viacom posted Q3 earnings of $0.99 per share on revenue of $3.485 billion. However, analysts were expecting earnings of $0.95 per share on sales of $3.37 billion.
Equities Trading UP
PG&E Corporation (NYSE:PCG) shares shot up 39 percent to $24.68. The CPUC said it does not want bankruptcy for the company and Bank of America reportedly issued defensive comments saying the sell off and bankruptcy concerns are 'overdone.'
Shares of EMC Insurance Group Inc. (NASDAQ:EMCI) got a boost, shooting up 27 percent to $30.51 after Employers Mutual Casualty Co. reported the purchase of all outstanding shares of EMC Insurance Group which EMCC does not already own, at $30 per share.
Sonos, Inc. (NASDAQ:SONO) shares were also up, gaining 15 percent to $16.2850 after the company reported a year-over-year improvement in Q4 EPS and sales.
Equities Trading DOWN
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Limbach Holdings, Inc. (NASDAQ:LMB) shares dropped 23 percent to $6.4566 after the company updated its full-year 2018 forecast.
Shares of Hutchison China MediTech Limited (NASDAQ:HCM) were down 21 percent to $29.0805 after the company disclosed that Phase III FALUCA trial results for fruquintinib in third-line, advanced non-small cell lung cancer in China did not meet primary endpoint.
NVIDIA Corporation (NASDAQ:NVDA) was down, falling around 16 percent to $170.22 after the company reported downbeat revenue for its third quarter and issued weak fourth-quarter guidance. Nvidia also raised its quarterly dividend from 15 cents a share to 16 cents and announced a $7-billion buyback.
Commodities
In commodity news, oil traded up 1.52 percent to $57.32 while gold traded up 0.16 percent to $1,216.90.
Silver traded down 0.2 percent Friday to $14.235, while copper fell 0.04 percent to $2.762.
Eurozone
European shares were lower today. The eurozone’s STOXX 600 declined 0.24 percent, the Spanish Ibex Index fell 0.30 percent, while Italy’s FTSE MIB Index slipped 0.27 percent. Meanwhile the German DAX dropped 0.28 percent, and the French CAC 40 fell 0.46 percent while U.K. shares fell 0.75 percent.
Economics
U.S. industrial production rose 0.1 percent for October, versus economists’ expectations for a0.2 percent gain.
The Kansas City Fed manufacturing index for November will be released at 11:00 a.m. ET.
Chicago Federal Reserve Bank President Charles Evans is set to speak in Chicago, IL at 11:30 a.m. ET.
The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.
The Treasury International Capital report for September will be released at 4:00 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.