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.
Pre-open movers
U.S. stock futures traded lower in early pre-market trade. Data on personal income and consumer spending for February will be released at 8:30 a.m. ET. The University of Michigan's consumer sentiment for March is scheduled for release at 10:00 a.m. ET. Federal Reserve Bank of Atlanta President Raphael Bostic is set to speak at 2:00 p.m. ET.
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The number of coronavirus cases in the U.S. surpassed those in China and Italy. Total COVID-19 cases in the U.S. exceeded 85,900 with around 1,290 deaths. Spain confirmed a total of over 57,700 cases, while Italy reported a total of at least 80,500 confirmed cases and 8,200 deaths. China reported 55 new cases on Thursday.
Futures for the Dow Jones Industrial Average dropped 469 points to 21,879 while the Standard & Poor’s 500 index futures traded fell 54.75 points to 2,553.25. Futures for the Nasdaq 100 index declined 157.25 points to 7,686.75.
Oil prices traded lower as Brent crude futures fell 1.5% to trade at $28.21 per barrel, while US WTI crude futures fell 0.6% to trade at $22.47 a barrel. The Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET.
A Peek Into Global Markets
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European markets were lower today, with the Spanish Ibex Index falling 2.8%, STOXX Europe 600 Index declining 2.6% and German DAX 30 index dropping 2.1%. The UK's FTSE index was trading lower by 3.6%, while French CAC 40 Index fell 3.2%.
In Asian markets, Japan’s Nikkei rose 3.88%, Hong Kong’s Hang Seng Index rose 0.56%, China’s Shanghai Composite Index rose 0.26% and India’s BSE Sensex slipped 0.1%.
Broker Recommendation
Analysts at Stifel upgraded Procter & Gamble Company (NYSE:PG) from Hold to Buy and lowered the price target from $119 to $117.
Procter & Gamble shares fell 0.6% to $106.72 in pre-market trading.
Breaking News
- GameStop Corp. (NYSE:GME) reported upbeat earnings for its fourth quarter, while sales missed views. The company suspended its annual guidance.
- Lululemon Athletica Inc (NASDAQ:LULU) reported stronger-than-expected results for its fourth quarter, but pulled its annual forecast.
- Sportsman's Warehouse Holdings Inc (NASDAQ:SPWH) reported better-than-expected results for its fourth quarter.
- KB Home (NYSE:KBH) reported stronger-than-expected earnings for its first quarter on Thursday.
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.