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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 Friday, the Dow traded up 0.17% to 27,268.35 while the NASDAQ fell 0.15% to 8,195.14. The S&P also fell, dropping 0.08% to 2,992.67.
Leading and Lagging Sectors
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Industrial shares rose 0.9% on Friday. Meanwhile, top gainers in the sector included Safe Bulkers, Inc. (NYSE:SB), up 12%, and Marten Transport, Ltd. (NASDAQ:MRTN), up 11%.
In trading on Friday, real estate shares fell 1.2%.
Top Headline
American Express Company (NYSE:AXP) reported better-than-expected earnings for its second quarter.
American Express reported second quarter earnings of $2.07 per share, which beat the analyst consensus estimate of $2.04. The company reported quarterly sales of $10.84 billion, versus the analyst consensus estimate of $10.82 billion. American Express affirmed its outlook for 2019.
Equities Trading UP
Midatech Pharma Plc (NASDAQ:MTP) shares shot up 45% to $1.89 after the company announced positive results from a first in human study of its MTX102 immuno-tolerising vaccine product candidate in diabetes.
Shares of Gannett Co., Inc. (NYSE:GCI) got a boost, shooting up 18% to $9.30 after a report of talks to merge with GateHouse. The deal could be announced in the next few weeks.
Skechers USA Inc (NYSE:SKX) shares were also up, gaining 13% to $39.14 after the company reported better-than-expected earnings for its second quarter and issued strong third-quarter guidance.
Equities Trading DOWN
Jaguar Health, Inc. (NASDAQ:JAGX) shares tumbled 23% to $1.99 following pricing of a 1.8 million Class A unit offering at $2 per unit.
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Shares of J C Penney Company Inc (NYSE:JCP) were down 17% to $0.90 after Reuters reported the struggling department store may have hired debt restructuring experts. JC Penney tasked experts to explore options that would give the company more time to oversee a turnaround in the face of $4 billion of debt which needs to be addressed in the coming years, sources told Reuters.
QEP Resources, Inc. (NYSE:QEP) was down, falling 20% to $5.02 amid reports Elliott Management has cut the price of its takeover bid.
Commodities
In commodity news, oil traded up 1% to $55.83, while gold traded down 0.4% to $1,423.10.
Silver traded down 0.5% Friday to $16.12, while copper rose 1.3% to $2.746.
Euro zone
European shares closed mixed today. The eurozone’s STOXX 600 gained 0.12%, the Spanish Ibex Index fell 0.6%, while Italy’s FTSE MIB Index dropped 2.03%. Meanwhile, the German DAX gained 0.26%, and the French CAC 40 rose 0.03% while UK shares rose 0.21%.
Economics
The University of Michigan's consumer sentiment index rose to a 98.4 in July, versus previous reading of 98.2.
The total number of active U.S. oil rigs slipped by 5 to 779 rigs this week, Baker Hughes Inc reported.
Boston Federal Reserve Bank President Eric Rosengren will speak in New York City, New York 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.