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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.
Toward the end of trading Friday, the Dow traded up 0.26% to 27607.31 while the NASDAQ fell 1.05% to 10805.00. The S&P also fell, dropping 0.24% to 3331.34.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 6,397,540 cases with around 191,800 deaths. India confirmed a total of at least 4,562,410 confirmed cases and 76,270 deaths, while Brazil reported over 4,238,440 COVID-19 cases with 129,520 deaths. In total, there were at least 28,200,030 cases of COVID-19 worldwide with over 910,130 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Materials shares climbed 1.4% on Friday. Meanwhile, top gainers in the sector included Teck Resources Limited (NYSE:TECK), up 10%, and Forterra, Inc. (NASDAQ:FRTA), up 17%.
In trading on Friday, information technology shares fell 1.2%.
Top Headline
Kroger Co (NYSE:RH) reported stronger-than-expected results for its second quarter.
Kroger reported quarterly earnings of $0.73 per share, which exceeded analyst expectations of $0.55 per share. The company reported quarterly sales of $30.49 billion, which also surpassed estimates of $29.95 billion.
The company raised its adjusted free cash flow guidance from $1.6 billion-$1.8 billion to $2.5 billion-$2.7 billion, and also announced a $1 billion buyback of its common stock. Kroger also said it expects FY20 adjusted earnings of $3.20 to $3.30 per share.
Equities Trading UP
Biofrontera AG (NASDAQ:BFRA) shares shot up 17% to $8.60 after the company reported a mutual agreement with Wilhelm KT Zours and Deutsche Balaton on key elements of mediation deal.
Shares of Zumiez Inc. (NASDAQ:ZUMZ) got a boost, shooting 11% to $28.08 after reporting upbeat results for its second quarter.
A-Mark Precious Metals, Inc. (NASDAQ:AMRK) shares were also up, gaining 25% to $32.61 after the company swung to a profit during the fourth quarter.
Equities Trading DOWN
Satsuma Pharmaceuticals, Inc. (NASDAQ:STSA) shares tumbled 14% to $4.8350 after various analysts downgraded the stock. Satsuma Pharmaceuticals shares tumbled 76% on Thursday after reporting topline results from EMERGE Phase 3 trial of STS101 for acute treatment of migraine.
Shares of Evofem Biosciences, Inc. (NASDAQ:EVFM) were down 23% to $2.1006 after the company's CEO sold 122,500 shares at an average price of $3.26.
Amyris, Inc. (NASDAQ:AMRS) was down, falling 28% to $2.26 after LAVVAN filed an $881 million lawsuit against the company for patent infringement and trade secret misappropriation.
Commodities
In commodity news, oil traded up 0.2% to $37.37, while gold traded down 0.7% to $1,949.90.
Silver traded down 1.3% Friday to $26.95, while copper rose 1.4% to $3.0395.
Euro zone
European shares closed mostly higher today. The eurozone’s STOXX 600 gained 0.13%, the Spanish Ibex Index fell 0.8%, while Italy’s FTSE MIB Index rose 0.01%. Meanwhile, the German DAX 30 declined 0.05%, French CAC 40 rose 0.2% and London’s FTSE 100 rose 0.48%.
The U.K. economy expanded by 6.6%, while industrial production rose 5.2% in July. Spanish consumer prices declined for the fifth consecutive month, falling 0.5% year-over-year in August.
Economics
Annual inflation rate rose to 1.3% in August versus 1% in July.
The total number of active U.S. oil rigs slipped by 1 to 180 rigs this week, Baker Hughes Inc reported.
The U.S. budget deficit came in at $200 billion for August, versus analysts’ expectations for a $245 billion deficit.
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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