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.
This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.
U.S. Stocks and stock index futures continue to struggle as earnings have failed to provide a lift for the market, as S&P 500 futures traded within 20 handles of the February low, and the Russell small caps posted a new low for the year last week. This week’s focus will be on the roughly 160 S&P 500 companies that will be reporting quarterly results. Keep an eye on Expedia (NASDAQ:EXPE), Devon (NYSE:DVN), Mosaic (NYSE:MOS), MGM Resorts (NYSE:MGM), Chegg (NYSE:CHGG), BP (NYSE:BP), Pfizer (NYSE:PFE), Marathon (NYSE:MRO), Hilton (NYSE:HLT), Airbnb (NASDAQ:ABNB), Lyft (NASDAQ:LYFT), Etsy (NASDAQ:ETSY), Uber (NYSE:UBER), Shopify (NYSE:SHOP), Goodyear (NASDAQ:GT), DraftKings (NASDAQ:DKNG), and Under Armour (NYSE:UAA) to name a few.
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Rising rates are weighing down the market as treasury yields continue to spike; the 30-Year Treasury Yield (TYX) is holding up just above 3%, while the 10-Year Treasury Yield (TNX) is just above 2.9% ahead of Wednesday’s Federal Reserve announcement. The focus will be on expectations for Chairman Jerome Powell to announce a 50-basis point rate hike as the Fed continues to combat inflation.
Also, keep an eye on the U.S. dollar as it continues to post multi-year highs with the euro, the Japanese yen, the British pound, and multiple foreign currencies weakening. In terms of eco-data for the week, we have some manufacturing data today, JOLTS on Tuesday, ADP on Wednesday, and Friday brings non-farm payrolls and the wages component for further insight as to how economic conditions here in the U.S. are holding up with rates on the rise. Commodities are also on the move, with corn at new highs, soybean oil hitting record highs, and crude oil holding up around $100.
A busy week to come, make it a good one!
This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.
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.