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.
Midway through trading Wednesday, the Dow traded up 0.26% to 31,472 while the NASDAQ fell 1.02% to 13,222.06. The S&P also fell, dropping 0.30% to 3,858.49.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 28,664,600 cases with around 514,660 deaths. India confirmed a total of at least 11,124,520 confirmed cases and 157,240 deaths, while Brazil reported over 10,587,000 COVID-19 cases with 255,720 deaths. In total, there were at least 114,499,550 cases of COVID-19 worldwide with over 2,540,340 deaths, according to data compiled by Johns Hopkins University.
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!
Leading and Lagging Sectors
Energy shares rose 2.3% on Wednesday. Meanwhile, top gainers in the sector included The Callon Petroleum Company (NYSE:CPE), up 13%, and SM Energy Company (NYSE:SM), up 12%.
In trading on Wednesday, utilities shares fell 1.6%.
Top Headline
Dollar Tree, Inc. (NASDAQ:DLTR) reported better-than-expected earnings for its fourth quarter, while sales missed views.
Dollar Tree posted quarterly adjusted earnings of $2.13 per share, beating analysts’ estimates of $2.11 per share. The company reported sales of $6.77 billion, versus expectations of $6.79 billion.
Dollar Tree also added $2 billion to its buyback program.
Equities Trading UP
Cohen & Company Inc. (NASDAQ:COHN) shares shot up 105% to $35.95 after the company reported a strong rise in Q4 earnings and sales.
Shares of KemPharm, Inc. (NASDAQ:KMPH) got a boost, shooting 50% to $14.16 after the company announced that FDA has approved the new drug application for Azstarys, formerly referred to as KP415, a once-daily product for the treatment of attention deficit hyperactivity disorder in patients age six years and older. It contains serdexmethylphenidate, KemPharm's prodrug of d-methylphenidate.
Veritiv Corporation (NYSE:VRTV) shares were also up, gaining 76% to $44.26 after the company reported an increase in Q4 earnings and announced a $50 million buyback plan.
Check out these big movers of the day
Equities Trading DOWN
FREE REPORT: How To Learn Options Trading Fast
In this special report, you will learn the four best strategies for trading options, how to stay safe as a complete beginner, a 411% trade case study, PLUS how to access two new potential winning options trades starting today.Claim Your Free Report Here.
Vir Biotechnology, Inc. (NASDAQ:VIR) shares tumbled 31% to $39.79. Vir Biotechnology and GlaxoSmithKline have provided an update on the VIR-7831 (GSK4182136) arm of NIH-sponsored ACTIV Program Phase 3 trial in hospitalized adults with COVID-19.
Shares of Rocket Companies, Inc. (NASDAQ:RKT) were down 20% to $33.47 after RBC Capital downgraded the stock from Outperform to Sector Perform and announced a price target of $30 per share.
MICT, Inc. (NASDAQ:MICT) was down, falling 19% to $2.3912 after the company priced its 19.29 million share common stock and warrants offering.
Commodities
In commodity news, oil traded up 3% to $61.56, while gold traded down 0.8% to $1,719.00
Silver traded down 1.6% Wednesday to $26.44 while copper fell 2.1% to $4.1350.
Euro zone
European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.05%, the Spanish Ibex Index fell 0.3% and the German DAX 30 gained 0.29%. Meanwhile, the French CAC 40 rose 0.35%, London’s FTSE 100 rose 0.93% and Italy’s FTSE MIB fell 0.16%.
Producer prices in the Eurozone rose 1.4% in January following a revised 0.9% increase in December, while composite PMI increased to 48.8 in February from 47.8 in the earlier month. UK composite PMI increase to 49.6 in February from 41.2 in the earlier month, while German composite PMI rose to 51.1 in February from 50.8 in January. The French government budget deficit increased to EUR 21.9 billion in January from EUR 20 billion in the year-ago month.
Economics
US private businesses hired 117,000 workers in February following a revised 195,000 rise in the previous month.
The IHS Markit composite PMI increased to 59.5 in February from a preliminary estimate of 58.8.
The ISM services PMI fell to 55.3 in February from 58.7 in January.
US crude oil supplies climbed 21.563 million barrels last week, the Energy Information Administration said.
Federal Reserve Bank of Chicago President Charles Evans is set to speak at 1:00 p.m. ET.
The Federal Open Market Committee will release its latest Beige Book report at 2:00 p.m. ET.
Federal Reserve Bank of Dallas President Robert Kaplan will speak at 6:05 p.m. ET.
Check out the full economic calendar here
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.