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.
Toward the end of trading Wednesday, the Dow traded up 0.53% to 34,313.88 while the NASDAQ rose 0.18% to 13,658.26. The S&P also rose, gaining 0.41% to 4,181.69.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 32,513,400 cases with around 578,500 deaths. India confirmed a total of at least 20,664,970 cases and 226,180 deaths, while Brazil reported over 14,856,880 COVID-19 cases with 411,580 deaths. In total, there were at least 154,404,850 cases of COVID-19 worldwide with more than 3,229,350 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 2.7% on Wednesday. Meanwhile, top gainers in the sector included Peabody Energy Corporation (NYSE:BTU), up 16%, and Oceaneering International, Inc. (NYSE:OII), up 17%.
In trading on Wednesday, utilities shares fell 2%.
Top Headline
General Motors Company (NYSE:PFE) reported better-than-expected earnings for its first quarter.
General Motors reported quarterly earnings of $2.25 per share, beating analysts’ estimates of $1.04 per share. The company’s quarterly sales came in at $32.50 billion, versus expectations of $32.67 billion.
General Motors said it sees FY21 adjusted earnings of $4.50-$5.25 per share, versus analysts’ estimates of $5.29 per share.
Equities Trading UP
Nemaura Medical Inc. (NASDAQ:NMRD) shares shot up 94% to $9.14 after the company reported the receipt of purchase orders for 5,000 sugarBEAT transmitters and 200,000 sugarBEAT sensors from its U.K. licensee DB Ethitronix.
Shares of Chiasma, Inc. (NASDAQ:CHMA) got a boost, shooting 39% to $3.9550 after Amryt Pharma agreed to acquire the company in an all-stock combination.
Big 5 Sporting Goods Corporation (NASDAQ:BGFV) shares were also up, gaining 29% to $24.58 after the company reported better-than-expected Q1 results and also issued strong Q2 EPS guidance.
Check out these big movers of the day
Equities Trading DOWN
Want Private Access to Benzinga Analyst?
Check out the latest strategies our team of experts are using every week so that you can always adapt to the market like the pros!—Get FULL Access to This Week's Webinar Here.
Cocrystal Pharma, Inc. (NASDAQ:COCP) shares tumbled 31% to $1.4702 after the company announced a $40 million bought deal offering of common stock.
Shares of Intrusion Inc. (NASDAQ:INTZ) were down 31% to $9.91 after the company reported worse-than-expected Q1 results. B. Riley FBR downgraded Intrusion from Buy to Neutral and lowered the price target from $30 to $13.5.
Esperion Therapeutics, Inc. (NASDAQ:ESPR) was down, falling 25% to $19.21 after the company reported worse-than-expected Q1 results. Stifel downgraded Esperion Therapeutics from Buy to Hold and lowered the price target from $37 to $20.
Commodities
In commodity news, oil traded down 0.2% to $65.57, while gold traded up 0.5% to $1,784.20.
Silver traded down 0.1% Wednesday to $26.535 while copper rose 0.1% to $4.52.
Euro zone
European shares closed higher today. The eurozone’s STOXX 600 climbed 1.82%, the Spanish Ibex Index rose 1.56% and the German DAX 30 gained 2.12%. Meanwhile, the London’s FTSE 100 gained 1.68%, French CAC 40 rose 1.4% and Italy’s FTSE MIB surged 2.03%.
Producer prices in the Eurozone increased 1.1% in March, following a 0.5% rise in the earlier month. The IHS Markit Eurozone composite PMI edged higher to 53.8 in April from a preliminary reading of 53.7.
French composite PMI was revised lower to 51.6 in April from a preliminary reading of 51.7, while German composite PMI slipped to 55.8 in April from a preliminary level of 56.
Economics
Private businesses in the US hired 742,000 workers in April versus a revised 565,000 increase in March.
The IHS Markit services PMI increased to 64.7 in April versus a preliminary estimate of 63.1.
The ISM non-manufacturing PMI fell to 62.7 in April from 63.7 in the previous month.
US crude-oil inventories fell 8 million barrels last week, the Energy Information Administration said.
Federal Reserve Bank of Chicago President Charles Evans will speak at 3:00 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.