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.
Recent earnings reports imply that the positive momentum from early July is still in the air. Last week, Adobe (NASDAQ:ADBE) and FedEx (NYSE:FDX) treated us with blockbuster results that confirmed the favorable trends, contributing to overall recovery of the U.S. economy.
This week, it was up to Nike (NYSE:NKE) to deliver a blockbuster earnings report. Its shares surged and lifted the Dow Jones industrial average as the sports retailer smashed both revenue and profit expectations.
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!
US stocks rose on Wednesday on strong earnings and progress on the upcoming COVID-19 vaccine as Johnson & Johnson (NYSE:JNJ) announced it is starting the third phase of its candidate in the largest study to date that will enroll up to 60,000 participants.
On the other hand, this week was not so kind to Tesla (NASDAQ:TSLA) whose shares dropped after its Battery Day event on Tuesday failed to delight investors. Musk laid out a plan to get to a $25,000 EV it expects to begin selling in three years but without showing any tangible progress.
Gold fell but oil prices climbed. Oil's international benchmark jumped 1%, to $42.15 per barrel as BP (NYSE:BP), Royal Dutch Shell (NYSE: RDS-A)(NYSE: RDS-B) and other European energy companies are restructuring their core business to dramatically reduce emissions while investing heavily in renewable energy. Meanwhile, the American oil giants Chevron (NYSE:CVX) and Exxon Mobil Corporation (NYSE:XOM) are going in a far different direction.
Although it's premature, the early reports suggest there is hope for Q3 and improved outlook in a variety of sectors. As for the third quarter of 2020, total S&P 500 earnings are expected to decline 23.1% on 2.9% drop in revenues, which is an improvement from Q2 expectations and figures.
Next week, Thor Industries Inc (NYSE:THO), Conagra (NYSE:CAG), Constellation Brands (NYSE:STZ) and Bed Bath and Beyond (NASDAQ:BBBY) will give their own contribution to solving the outlook puzzle.
This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure . IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you're interested in becoming an IAM journalist contact: contributors@iamnewswire.com
The post Closing a Light Earnings Week appeared first on IAM Newswire.
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.