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.
Inflation and companies reporting quarterly results are at the top of the list of focal points for investors and traders this week. Let's begin with the Consumer Price Index on Wednesday and the Producer Price Index figures on Thursday. Both are expected to show that while inflation has pulled back from its peak levels, it’s still above the Fed’s target of 2%. In terms of other data to watch, we have the NFIB Small Business Index on Tuesday, Atlanta Fed Inflation Expectations on Wednesday, weekly Jobless Claims on Thursday, and the Michigan Sentiment Survey to end the week on Friday, as well as a handful of Fed speakers throughout the week.
As for earnings, things are starting to wind down this week but there are still some names that could move markets. We start off with Tyson (TSN) falling in the premarket post earnings with results from Paypal (PYPL) and Devon Energy (DVN) due out after the close. Tomorrow, we’ll get a look at results from Airbnb (ABNB), Rivian (RIVN), Under Armour (UAA), Twilio (TWLO), Occidental Petroleum (OXY), and Wynn Resorts (WYNN). Later in the week, Roblox (RBLX), Walt Disney (DIS), Wendy’s (WEN), Beyond Meat (BYND), The Trade Desk (TTD), JD.com (JD), and Yeti (YETI) all set to report.
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After the stronger-than-expected Jobs report last Friday, we have the U.S. dollar near 101, gold comfortably above 2,000 to begin the week, 10-year and 2-year yields below 4%, and crude oil stubbornly elevated but rangebound around $73 a barrel.
Lastly, investors are keeping a close eye on the debt ceiling debate ahead of a key meeting this week. Treasury Secretary Janet Yellen during the weekend warned of a catastrophic financial event if Congress does not act to raise the debt ceiling.
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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.