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 slightly lower in early pre-market trade, after falling in the prior session. Federal Reserve Bank of Atlanta President Raphael Bostic is set to speak at 12:15 p.m. ET. Data on consumer credit for May will be released at 3:00 p.m. ET.
The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 2,996,090 with around 131,480 deaths. Brazil confirmed over 1,668,580 cases, while India reported a total of at least 742,410 confirmed cases.
Futures for the Dow Jones Industrial Average dropped 81 points to 25,689 while the Standard & Poor’s 500 index futures traded fell 6.25 points to 3,130.25. Futures for the Nasdaq 100 index gained 4.75 points to 10,527.50.
Oil prices traded mostly flat as Brent crude futures rose 0.1% to trade at $ 43.14 per barrel, while US WTI crude futures fell 0.1% to trade at $40.60 a barrel. The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is scheduled for release at 10:30 a.m. ET.
A Peek Into Global Markets
European markets were mixed today, with the Spanish Ibex Index falling 1.1% and STOXX Europe 600 Index declining 0.1%. The UK's FTSE index was trading higher by 0.2%, while French CAC 40 Index fell 0.3% and German DAX 30 gained 0.2%.
In Asian markets, Japan’s Nikkei fell 0.78%, Hong Kong’s Hang Seng Index rose 0.59%, China’s Shanghai Composite Index gained 1.74% and India’s BSE Sensex fell 0.3%.
Broker Recommendation
Analysts at Jefferies upgraded The Bank of New York Mellon Corporation (NYSE:BK) from Hold to Buy and raised the price target from $40 to $45..
Bank of New York Mellon shares fell 2% to close at $37.77 on Tuesday.
Breaking News
- Smart Global Holdings Inc (NASDAQ:SGH) company reported upbeat earnings for its third quarter, while sales missed views. The company also said it expects Q4 adjusted earnings of $0.70 to $0.86 per share on sales of $290 million to $310 million.
- TikTok, owned by China’s ByteDance, is under investigation by the United States Justice Department and the Federal Trade Commission for failing to protect children’s privacy.
- Levi Strauss & Co. (NASDAQ:LEVI) reported weaker-than-expected results for its second quarter and announced plans to cut around 15% of its workforce.
- AMC Entertainment Holdings Inc. (NYSE:AMC) shares climbed over 10% in pre-market trading after a Wall Street Journal report said the company is nearing a deal that will help it avoid bankruptcy, at least in the short term.
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.
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