Benzinga Mid-Morning Market Update


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.


Following the market opening Friday morning, the Dow traded up 0.47 percent to 13,639.09 while the NASDAQ rose 0.39 percent to 3,161.66. The S&P was also on the rise, increasing 0.48 percent to 1,468.34. The early rally could be a result of the positive job numbers this morning, or could simply be linked to the melt up markets have been experiencing recently.Primeo Mining (NYSE: PPP) shot up in early trading, increasing 45.20 percent to $7.84 following a favorable ruling in Mexican tax court.Avon Products (NYSE: AVP) also traded up, increasing 5.92 percent to $17.18 after its executive chairman, Andrea Jung, announced she would step down.Shares of Infoblox (NYSE: BLOX) traded up 3.97 percent to $21.50 after it announced a secondary public offering Thursday evening.Zinga (NASDAQ: ZNGA) took a hit in early trading, falling 20.96 percent to $2.23 after the company released a poor third-quarter outlook.First Solar (NASDAQ: FSLR) also took a hit, falling 7.85 percent to $20.78, possibly linked to some renewed takeover chatter Thursday.Shares of Sarepta Therapeutics (NASDAQ: SRPT) fell 7.73 percent to $34.99 following some negative analyst comments Thursday.Friday was a big day for economic reports, the change in nonfarm payrolls came in at 114 thousand, slightly below the estimate of 115 thousand, and well below the previous figure of 142 thousand. Change in manufacturing payrolls came in at -16 thousand, well below the estimate of 0, but above the prior figure of -22 thousand.The coup de gras of numbers, the unemployment rate, came in at 7.8 percent- significantly below the estimate of 8.2 percent, and below the prior figure in August of 8.1 percent.

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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