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 Monday, the Dow traded up 0.41% to 25978.03 while the NASDAQ rose 0.96% to 10041.88. The S&P also rose, gaining 0.53% to 3,114.07.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 2,280,960 cases with around 119,970 deaths. Brazil confirmed a total of over 1,083,340 COVID-19 cases with 50,590 deaths, while Russia reported a total of at least 591,460 confirmed cases and 8,190 deaths. In total, there were at least 8,970,970 cases of COVID-19 worldwide with over 468,580 deaths, according to data compiled by Johns Hopkins University.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Leading and Lagging Sectors
Information technology shares climbed 1.5% on Monday. Meanwhile, top gainers in the sector included Ideanomics, Inc. (NASDAQ:IDEX), up 41%, and Synchronoss Technologies, Inc. (NASDAQ:SNCR), up 17%.
In trading on Monday, real estate shares fell 0.8%.
Top Headline
American Airlines Group Inc (NASDAQ:AAL) plans to sell shares and convertible senior notes due 2025 to raise $3.5 billion to ease the liquidity crisis during the pandemic.
On Sunday, American Airlines proposed a public offering of $750 million of its common stock as well as $750 million worth of convertible senior notes due 2025.
Equities Trading UP
Evoke Pharma, Inc. (NASDAQ:EVOK) shares shot up 60% to $3.76 after the FDA gave its nod for its Gimoti nasal spray that would allow the company to commercially market it in the U.S. HC Wainwright & Co. also upgraded the company's stock from Neutral to Buy and announced a $10 price target.
Shares of Ideanomics, Inc. (NASDAQ:IDEX) got a boost, shooting 43% to $3.18 after the company received a 200 electric vehicle order worth $3.2 million.
Sintx Technologies, Inc. (NASDAQ:SINT) shares were also up, gaining 174% to $2.12 after the company announced the SARS-CoV-2 virus was inactivated in a lab study when exposed to its sintered silicon nitride powder.
Equities Trading DOWN
Want Private Access to Benzinga Analyst?
Check out the latest strategies our team of experts are using every week so that you can always adapt to the market like the pros!—Get FULL Access to This Week's Webinar Here.
Urban One, Inc. (NASDAQ:UONE) shares tumbled 41% to $21.32 after gaining 45% on Friday.
Shares of Carver Bancorp, Inc. (NASDAQ:CARV) were down 25% to $9.10.
Livent Corporation (NASDAQ:LTHM) was down, falling 22% to $6.00 after the company reported a proposed private offering of $225 million of convertible senior notes due 2025.
Commodities
In commodity news, oil traded up 1% to $40.14, while gold traded up 0.8% to $1,767.10.
Silver traded up 0.5% Monday to $17.935, while copper rose 1.7% to $2.655.
Euro zone
European shares closed lower today. The eurozone’s STOXX 600 fell 0.76%, the Spanish Ibex Index fell 0.92%, while Italy’s FTSE MIB Index dropped 0.71%. Meanwhile, the German DAX 30 declined 0.55%, French CAC 40 fell 0.62% and UK shares slipped 0.76%.
Economics
The Chicago Fed National Activity Index climbed to 2.61 in May, versus a revised reading of -17.89 for April.
Sales of existing houses in the US fell 9.7% to an annual rate of 3.91 million units in May.
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.