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 2.71% to 25809.51 while the NASDAQ rose 2.50% to 9,729.78. The S&P also rose, gaining 2.51% to 3,077.55.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 2,023,340 cases with around 113,820 deaths. Brazil confirmed a total of over 802,820 COVID-19 cases with 40,910 deaths, while Russia reported a total of at least 510,760 confirmed cases and 6,700 deaths. In total, there were at least 7,534,320 cases of COVID-19 worldwide with over 421,850 deaths, according to data compiled by Johns Hopkins University.
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Leading and Lagging Sectors
Energy shares climbed 3.8% on Friday. Meanwhile, top gainers in the sector included G. Nabors Industries Ltd. (NYSE:NBR), up 30%, and Borr Drilling Limited (NYSE:BORR), up 29%.
In trading on Friday, consumer staples shares rose by just 0.6%.
Top Headline
Adobe Inc (NASDAQ:ADBE) reported upbeat earnings for its second quarter, while sales fell short of expectations. The company also issued downbeat guidance for the third quarter.
Adobe posted Q2 adjusted earnings of $2.45 per share, beating analysts’ estimates of $2.33 per share. The company reported quarterly sales of $3.13 billion, missing expectations of $3.16 billion.
Adobe said it expects Q3 adjusted EPS of $2.40 on sales of $3.15 billion. Analysts were projecting EPS of $2.46 on sales of $3.28 billion.
Equities Trading UP
Yunhong CTI Ltd. (NASDAQ:CTIB) shares shot up 186% to $6.49 following an amended 13D filing from LF International which disclosed a 56.9% stake in the company.
Shares of KBS Fashion Group Limited (NASDAQ:KBSF) got a boost, shooting 53% to $3.37.
Hertz Global Holdings, Inc. (NYSE:HTZ) shares were also up, gaining 56% to $3.21. Hertz Global wants to take advantage of a spike in its stock price registered early this week, selling up to $1 billion in shares.
Equities Trading DOWN
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Wah Fu Education Group Limited (NASDAQ:WAFU) shares tumbled 26% to $5.28 after surging 218% on Thursday.
Shares of RF Industries, Ltd. (NASDAQ:RFIL) were down 12% to $5.15 after the company reported downbeat Q2 sales.
Tarena International, Inc. (NASDAQ:TEDU) was down, falling 23% to $2.09 after gaining over 12% on Thursday.
Commodities
In commodity news, oil traded up 0.3% to $36.44, while gold traded up 0.3% to $1,744.20.
Silver traded down 0.7% Friday to $17.77, while copper rose 1% to $2.6135.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 rose 1.10%, the Spanish Ibex Index rose 1%, while Italy’s FTSE MIB Index gained 1.1%. Meanwhile, the German DAX 30 gained 0.8%, French CAC 40 rose 1.7% and UK shares rose 1.1%.
Economics
US import prices rose 1% in May after a 2.6% decline in the prior month. However, export prices gained 0.5% in May following a 3.3% drop in April.
The University of Michigan's consumer sentiment index climbed to 78.9 in June versus a reading of 72.3 in May.
The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 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.