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 mixed in early pre-market trade, after recording sharp losses in the previous session. Federal Reserve Chair Jerome Powell is set to testify before the Joint Economic Committee at 10:30 a.m. ET. Data on existing home sales for August and the Richmond Fed's manufacturing index for September will be released at 10:00 a.m. ET. Federal Reserve Bank of Richmond President Thomas Barkin is set to speak at 12:00 p.m. ET, while Federal Reserve Bank of Atlanta President Raphael Bostic will speak at 3:00 p.m. ET.
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Futures for the Dow Jones Industrial Average dropped 27 points to 27,028 while the Standard & Poor’s 500 index futures traded rose 4.75 points to 3,279.75. Futures for the Nasdaq 100 index gained 68 points to 11,057.50.
The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 6,857,960 with around 199,880 deaths. India reported a total of at least 5,562,660 confirmed cases, while Brazil confirmed over 4,558,040 cases.
Oil prices traded higher as Brent crude futures rose 1.4% to trade at $42.03 per barrel, while US WTI crude futures rose 0.8% to trade at $39.63 a barrel. The API’s report crude oil stocks will be released later in the day.
A Peek Into Global Markets
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European markets were mostly higher today, with the Spanish Ibex Index falling 0.3% and STOXX Europe 600 Index gaining 0.5%. The French CAC 40 Index climbed 0.1%, while German DAX 30 rose 0.9% and London’s FTSE 100 rose 0.1%. The German economy is expected to contract 5.2% this year, the Ifo Institute said. The Ifo had earlier expected a 6.7% contraction.
In Asian markets, Hong Kong’s Hang Seng Index dropped 0.98% China’s Shanghai Composite Index fell 1.29% and India’s BSE Sensex fell 0.8%. Hong Kong reported a wider current account surplus, with surplus increasing to HKD 60.536 billion in the second quarter versus HKD 33.459 billion in the year-ago period.
Broker Recommendation
Analysts at Keefe, Bruyette & Woods upgraded The Allstate Corporation (NYSE:ALL) from Market Perform to Outperform and raised the price target from $107 to $108.
Allstate shares rose 0.8% to $92.79 in pre-market trading.
Breaking News
- Tesla Inc (NASDAQ:TSLA) CEO Elon Musk dashed hopes surrounding the automaker’s ability to reach self-sufficiency in batteries until at least 2022.
- Intel Corporation (NASDAQ:INTC) has received the federal government nod to keep supplying Huawei Technologies with certain products, Reuters reported Tuesday.
- Qutoutiao Inc – ADR (NASDAQ:QTT) reported a narrower-than-expected loss for its second quarter, while sales missed views.
- WM Motor Technology Group Co. Ltd is the latest company to benefit from the increased popularity of the electric vehicle segment with the investors in China. WM Motors raised around $1.47 billion (RMB 10 billion) in a Series D financing round.
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.