Friday, May 11, 2012
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.
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This is your Benzinga news summary and trader's outlook covering headlines from overnight and today's pre-market session.
Benzinga's Top News
Domestic Pre-Market Trading
- U.S. Equity Markets trade lower as Dow futures trade down about 73 points.
- U.S. Dollar trades about 0.17% higher.
Overseas Trading
- European markets are lower in afternoon trading. Britain's FTSE 100 slid 0.66%, Germany's DAX fell 0.61% and France's CAC 40 dropped 1.1% on the session.
- Asian stocks ended the session lower as well. China's Shanghai slid 0.62%, Japan's Nikkei 225 fell 0.63%, and Hong Kong's Hang Seng dropped 1.3%.
Upgrades/Downgrades
- Credit Suisse Upgrades Bed Bath & Beyond (NASDAQ: BBBY) from Neutral to Buy, Raises PT from $75 to $91
- Credit Suisse Upgrades Verizon Communications (NYSE: VZ) from Neutral to Outperform, Raises PT from $38 to $45
- Credit Suisse Downgrades Best Buy (NYSE: BBY) from Outperform to Neutral, Lowers PT from $32 to $20
- Citigroup Downgrades Windstream (NYSE: WIN) from Buy to Neutral, Lowers PT from $15 to $11
On the Economic Calendar
- 08:30 a.m. ET - PPI (MoM)
- 08:30 - Core PPI (MoM)
- 09:55 - Michigan Consumer Sentiment
Earnings
- ReneSola (NYSE: SOL) Reports Q1 EPS $-0.23 vs $-0.31 Est; Revenues $211.5M vs $177.60M Est
Corporate News
- Yesterday, JPMorgan Chase & Co (NYSE: JPM) revealed a trading loss of $2 billion in its synthetic credit portfolio.
- Yesterday, FDA Panel Votes 18-4-1 That Available Data Demonstrate Potential Benefits of Arena Pharmaceutical's (NASDAQ: ARNA) Lorcaserin Outweigh Potential Risks
Commodities
- Precious metals are trading lower, with gold posting early losses of about 0.9%
- Energy futures are trading lower, with crude oil posting early losses of about 1.12%
- Natural Gas futures are trading 0.04% higher and copper is trading lower by about 1.84%
Benzinga's Morning Radar
Technical Levels for Futures and Forex| Name | Resistance-2 | Resistance-1 | Mid Pivot | Support-1 | Support-2 |
| E-Mini S&P 500 | 1372 | 1364 | 1356 | 1349 | 1340 |
| Gold | 1610 | 1602 | 1593 | 1584 | 1576 |
| Crude | 98.38 | 97.47 | 96.77 | 95.90 | 95.16 |
| Natural Gas | 2.57 | 2.52 | 2.46 | 2.41 | 2.35 |
| EUR/USD | 1.3000 | 1.2967 | 1.2945 | 1.2912 | 1.2891 |
| US Dollar Index | 80.50 | 80.42 | 80.24 | 80.15 | 79.99 |
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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.