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 the Nasdaq dropped by 1.4% in the previous session. Apple Inc. (NASDAQ:AAPL) reported better-than-expected results for its first quarter after the closing bell on Thursday. Investors are awaiting earnings results from Chevron Corporation (NYSE:CVX), Charter Communications, Inc. (NASDAQ:CHTR), Colgate-Palmolive Company (NYSE:CL) and Phillips 66 (NYSE:PSX).
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Data on personal income and outlays for December will be released at 8:30 a.m. ET, while the employment cost index for the fourth quarter is scheduled for release at 8:30 a.m. ET. The University of Michigan's consumer sentiment index for January will be released at 10:00 a.m. ET.
Futures for the Dow Jones Industrial Average dropped 65 points to 33,978.00 while the Standard & Poor’s 500 index futures fell 1.75 points to 4,316.00. Futures for the Nasdaq index climbed 58.75 points to 14,045.50.
Oil prices traded higher as Brent crude futures rose 0.4% to trade at $88.56 per barrel, while US WTI crude futures rose 0.6% to trade at $87.09 a barrel. The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 74,695,330 with around 902,140 deaths. India reported a total of at least 40,622,700 confirmed cases, while Brazil confirmed over 24,782,920 cases.
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European markets were lower today. The STOXX Europe 600 Index slipped 1.2%, while Spain’s IBEX 35 Index fell 1.2% and London’s FTSE 100 fell 1.1%. The French CAC 40 Index fell 1.4%, while German DAX dropped 1.6%. Manufacturing confidence in Italy declined to 113.9 in January from a revised 115 in the previous month, while consumer confidence fell to 114.2 from 117.7. The Germany’s economy shrank 0.7% on quarter during the final three months of 2021, versus market expectations for a 0.3% fall. Import prices in Germany surged 24% year-over-year in December. Producer prices in France rose 1% from a month ago in December, while the country’s economy expanded 0.7% quarter-over-quarter in the fourth quarter. Spanish economy grew 2.0 percent on quarter in the final three months of 2021.
Asian markets traded mixed today. Japan’s Nikkei jumped 2.09%, Hong Kong’s Hang Seng Index dropped 1.08%, while China’s Shanghai Composite fell 0.97%. Australia’s S&P/ASX 200 gained 2.2%, while India’s BSE SENSEX fell 0.1%. Hong Kong's economy grew by 4.8% year-over-year in the fourth quarter versus a revised 5.5% surge in the prior period. The final demand producer price index in Australia rose by 1.3% quarter-over-quarter in the fourth quarter.
Broker Recommendation
RBC Capital upgraded Williams-Sonoma, Inc. (NYSE:WSM) from Sector Perform to Outperform and lowered the price target from $219 to $202.
Williams-Sonoma shares rose 1.2% to $148.10 in pre-market trading.
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Breaking News
- Visa Inc. (NYSE:V) reported better-than-expected results for its first quarter on Thursday.
- FARFETCH Limited (NYSE:FTCH) announced plans to acquire luxury beauty retailer, Violet Grey, for an undisclosed sum.
- Western Digital Corporation (NASDAQ:WDC) posted upbeat earnings and sales results for its second quarter, but issued a weak forecast. Western Digital named Wissam Jabre as its CFO. The company said it sees Q3 adjusted earnings of $1.50 to $1.80 per share.
- Celanese Corporation (NYSE:CE) reported downbeat earnings for its fourth quarter.
Check out other breaking news 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.