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.
U.S. stocks traded mostly lower midway through trading, with the Dow Jones dropping over 100 points on Wednesday.
The Dow traded down 0.34% to 33,974.46 while the NASDAQ rose 0.22% to 11,986.30. The S&P 500 also fell, dropping, 0.19% to 4,128.13.
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!
Check This Out: Check Out 3 High-Yielding Dividend Stocks In Tech & Telecom Sector From Wall Street's Most Accurate Analysts
Leading and Lagging Sectors
- Utilities shares traded fell by just 0.1% on Wednesday. Meanwhile, top gainers in the sector included Azure Power Global Limited (NYSE:AZRE), up 4%, and Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN), up 1.4%.
- In trading on Wednesday, energy shares dipped by 2.3%.
Top Headline
Retail sales in the US rose 3% month-over-month in January, recording the biggest growth since March 2021 and above market expectations for a 1.8% increase.
Equities Trading UP
- Roblox Corporation (NYSE:RBLX) shares shot up 22% to $60.91 after the company reported better-than-expected Q4 sales results.
- Shares of The Trade Desk, Inc. (NASDAQ:TTD) got a boost, shooting 22% to $60.91 after the company reported better-than-expected Q4 adjusted results and issued Q1 revenue guidance above estimates. The company also announced a $700 million buyback.
- Sera Prognostics, Inc. ( (NASDAQ: SERA) shares were also up, gaining 45% to $1.88 after the company announced top-line data from the AVERT PRETERM TRIAL.
Equities Trading DOWN
- GlycoMimetics, Inc. (NASDAQ:GLYC) shares tumbled 56% to $1.79. GlycoMimetics reported continuation of Phase 3 study of e-selectin antagonist uproleselan in relapsed/refractory aml to originally planned final analysis following interim analysis by the independent Data Monitoring Committee.
- Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) were down 45% to $10.60 after the company issued Q4 revenue guidance below analyst estimates.
- AMMO, Inc. (NASDAQ:POWW) was down, falling 16% to $1.8981 after reporting downbeat Q3 sales.
Also Check This Out: Over $5M Bet On Porch Group? Check Out These 3 Penny Stocks Insiders Are Buying
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.
Commodities
In commodity news, oil traded down 1.4% to $77.96 while gold traded down 1.1% at $1,844.90.
Silver traded down 1.6% to $21.515 on Wednesday while copper fell 2.3% to $3.9810.
Stocks of crude oil in the US rose by 10.507 million barrels for the week ended Feb. 10, 2023, the API said Tuesday.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 gained 0.28%, London’s FTSE 100 rose 0.38% while Spain’s IBEX 35 Index rose 0.18%. The German DAX gained 0.68% French CAC 40 gained 1.09% and Italy’s FTSE MIB Index rose 0.02%.
Spanish consumer price inflation rate was revised higher to 5.9% year-over-year in January versus a preliminary estimate of 5.8%. UK’s producer inflation rose by 13.5% year-over-year in January, versus a revised 14.6% in the previous month, while annual inflation rate in the country declined to 10.1% in January from 10.5% in December.
Asia Pacific Markets
Asian markets closed mostly lower on Wednesday, with Japan’s Nikkei 225 dropping 0.37%, Hong Kong’s Hang Seng Index falling 1.43% and China’s Shanghai Composite Index declining 0.39%. India’s S&P BSE Sensex gained 0.4%.
India's trade deficit increased to $17.75 billion in January from $17.42 in the year-ago month.
Economics
- Mortgage applications in the US fell 7.7% in the week ended Feb. 10, 2023.
- The NY Empire State Manufacturing Index rose 27.1 points from a month ago to a reading of -5.8 in February.
- Retail sales in the US rose 3% month-over-month in January, recording the biggest growth since March 2021 and above market expectations for a 1.8% increase.
- Industrial production in the US came in unchanged for January following a revised 1.0% decline in December.
Now Read This: Top 5 Tech Stocks That May Crash In February
COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 104,803,150 cases with around 1,140,400 deaths. India confirmed a total of at least 44,684,370 cases and 530,750 deaths, while France reported over 39,570,470 COVID-19 cases with 164,620 deaths. In total, there were at least 677,904,870 cases of COVID-19 worldwide with more than 6,784,390 deaths.
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.