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 0.04% to 27208.63 while the NASDAQ rose 0.09% to 8,192.56. The S&P also rose, gaining 0.23% to 2,991.30.
Leading and Lagging Sectors
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Consumer staples shares rose 0.9% on Thursday. Meanwhile, top gainers in the sector included Neptune Wellness Solutions Inc. (NASDAQ:NEPT), up 20%, and Philip Morris International Inc. (NYSE:PM), up 9%.
In trading on Thursday, communication services shares fell 1.1%.
Top Headline
Morgan Stanley (NYSE:MS) reported better-than-expected earnings for its second quarter.
Morgan Stanley reported second-quarter earnings of $1.23 per share, which beat the analyst consensus estimate of $1.16. The company reported quarterly sales of $10.244 billion, which beat the analyst consensus estimate of $10.03 billion.
Equities Trading UP
Exela Technologies, Inc. (NASDAQ:XELA) shares shot up 19% to $2.4667 after Handson Global Management proposed to acquire all of the outstanding equity in the company.
Shares of Outlook Therapeutics, Inc. (NASDAQ:OTLK) got a boost, shooting up 27% to $2.4811 after H.C. Wainwright initiated coverage on the company's stock with a Buy rating and an $8 price target.
Co-Diagnostics, Inc. (NASDAQ:CODX) shares were also up, gaining 40% to $1.25 after the company reported 'favorable' results from its study to detect cancer mutations using its CoPrimer technology.
Equities Trading DOWN
ADTRAN, Inc. (NASDAQ:ADTN) shares tumbled 23% to $12.24 after the company reported preliminary results for the second quarter.
Shares of Insteel Industries, Inc. (NASDAQ:IIIN) were down 13% to $18.35 after the company reported worse-than-expected Q3 EPS and sales results.
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Eagle Bancorp, Inc. (NASDAQ:EGBN) was down, falling 20% to $42.71 after reporting downbeat Q2 results.
Commodities
In commodity news, oil traded down 3.3% to $54.91, while gold traded up 0.7% to $1,433.60.
Silver traded up 1.7% Thursday to $16.24, while copper fell 0.3% to $2.7075.
Euro zone
European shares closed mostly lower today. The eurozone’s STOXX 600 slipped 0.22%, the Spanish Ibex Index fell 0.63%, while Italy’s FTSE MIB Index gained 0.05%. Meanwhile, the German DAX declined 0.92%, and the French CAC 40 fell 0.38% while UK shares fell 0.56%.
Economics
U.S. initial jobless claims rose 8,000 to 216,000 in the latest week. However, economists were expecting a reading of 216,000.
The Philadelphia Fed manufacturing index rose to a reading of 21.8 in July, compared to 0.3 in June.
The index of leading economic indicators declined 0.3% for June.
Domestic supplies of natural gas climbed 62 billion cubic feet for the week ended July 12, the U.S. Energy Information Administration reported. However, economists projected a gain of 65 billion cubic feet.
Data on money supply for the latest 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.