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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.
Midway through trading Wednesday, the Dow traded up 0.07% to 27043.10 while the NASDAQ fell 0.24% to 8129.48. The S&P also fell, dropping 0.06% to 2,993.98.
Leading and Lagging Sectors
Materials shares climbed 0.8% on Wednesday. Meanwhile, top gainers in the sector included First Majestic Silver Corp. (NYSE:AG), up 7%, and Sibanye Gold Limited (NYSE:SBGL), up 6%.
In trading on Wednesday, information technology shares fell 0.8%.
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Top Headline
Bank of America Corporation (NYSE:BAC) reported better-than-expected Q3 results.
Bank of America reported third-quarter earnings of 56 cents per share, which beat the analyst consensus estimate of 51 cents. The company reported sales of $22.8 billion, versus expectations of $22.79 billion.
Equities Trading UP
Viveve Medical, Inc. (NASDAQ:VIVE) shares shot up 91% to $7.26 after surging 16.21% on Tuesday.
Shares of Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) surged 71% to $6.24. Alexion Pharma (NASDAQ:ALXN) will buy Achillion Pharma for the initial value of $930 million, or $6.30 per share in cash plus added contingent considerations for total potential value of $8.30 per share.
Ideal Power Inc. (NASDAQ:IPWR) was up, rising 49% to $3.35.
Equities Trading DOWN
Workday, Inc. (NASDAQ:WDAY) shares tumbled 12% to $158.87 following the company's Tuesday analyst day. Bernstein said the company's focus on innovation and R&D spending is a long-term positive but could pressure margins near term. Other firms lowered their price targets.
Shares of Natera, Inc. (NASDAQ:NTRA) were down 11% to $34.96. Natera reported launch of $175 million common stock offering.
American Vanguard Corporation (NYSE:AVD) was down, falling 13% to $13.35 after the company reported weak preliminary sales for the third quarter.
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Commodities
In commodity news, oil traded up 1.4% to $53.56, while gold traded up 0.5% to $1,490.90.
Silver traded up 0.1% Wednesday to $17.405, while copper fell 1.1% to $2.587.
Euro zone
European shares were mostly higher today. The eurozone’s STOXX 600 fell 0.06%, the Spanish Ibex Index rose 0.42%, while Italy’s FTSE MIB Index climbed 0.41%. Meanwhile, the German DAX gained 0.46%, and the French CAC 40 gained 0.01% while UK shares fell 0.61%
Economics
U.S. retail sales fell 0.3% for September, versus economists’ expectations for a 0.3% increase.
U.S. business inventories were unchanged for August, versus economists’ expectations for a 0.2% rise.
The NAHB housing market index rose to 71 in October, versus prior reading of 68. However, economists were expecting a reading of 68.
Dallas Federal Reserve Bank President Robert Kaplan will speak in Austin, Texas at 1:00 p.m. ET.
The Federal Open Market Committee will release its Beige Book report at 2:00 p.m. ET.
Federal Reserve Member of the Board of Governors Lael Brainard is set to speak in Washington, DC at 3:00 p.m. ET.
The Treasury International Capital report for August is schedule for release 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.