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 higher in early pre-market trade, after recording sharp gains in the previous session. President Donald Trump and former Vice President Joe Biden came face-to-face Tuesday night in the first presidential debate held in Cleveland.
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Investors are awaiting various economic reports from the US. The Challenger job-cut report for September is scheduled for release at 7:30 a.m. ET, while data on initial jobless claims for the latest week, and personal income and outlays for August will be released at 8:30 a.m. ET. The manufacturing PMI for September is scheduled for release at 9:45 a.m. ET, while the ISM manufacturing composite index for September will be released at 10:00 a.m. ET. Data on construction spending for August will be released at 10:00 a.m. ET. Federal Reserve Bank of New York President John Williams is set to speak at 11:00 a.m. ET, while Fed Governor Michelle Bowman is set to speak at 3:00 p.m. ET.
Futures for the Dow Jones Industrial Average climbed 236 points to 27,900 while the Standard & Poor’s 500 index futures traded rose 30 points to 3,382.00. Futures for the Nasdaq 100 index surged 126.75 points to 11,534.00.
The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 7,233,940 with around 206,950 deaths. India reported a total of at least 6,312,580 confirmed cases, while Brazil confirmed over 4,810,930 cases.
Oil prices traded lower as Brent crude futures fell 0.7% to trade at $41.99 per barrel, while US WTI crude futures fell 0.8% to trade at $39.90 a barrel. The Energy Information Administration’s weekly report on natural gas stocks in underground storage is scheduled for release at 10:30 a.m. ET.
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A Peek Into Global Markets
European markets were higher today, after closing mostly lower in the prior session. The Spanish Ibex Index rose 0.3% and STOXX Europe 600 Index climbed 0.6%. The French CAC 40 Index climbed 0.8%, while German DAX 30 gained 0.2% and London’s FTSE 100 rose 1%. The Eurozone unemployment rate climbed to 8.1% in August from revised 8% in the previous month.
Asian markets traded mostly higher following a rally on the Wall Street in the previous session. Japan’s Nikkei 225 dropped 0.1%, Hong Kong’s Hang Seng Index rose 0.79% China’s Shanghai Composite Index slipped 0.2% and India’s BSE Sensex rose 1.7%.
Broker Recommendation
Analysts at Cowen & Co. downgraded Textron Inc. (NYSE:TXT) from Outperform to Market Perform and lowered the price target from $39 to $38.
Textron shares fell 1.9% to close at $36.09 on Wednesday.
Breaking News
- PepsiCo, Inc. . (NASDAQ:PEP) reported better-than-expected results for its third quarter.
- Selecta Biosciences Inc (NASDAQ:SELB) disclosed that its Phase 2 COMPARE trial did not meet its primary endpoint of statistical superiority.
- Enlivex Therapeutics Ltd. (NASDAQ:ENLV) reported positive trial results for its allcetra in coronavirus patients in severe/critical condition.
- LogicBio Therapeutics Inc (NASDAQ:LOGC) reported a proposed public offering of common stock. However, no size of the offering was disclosed.
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.