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.
Midway through trading Wednesday, the Dow traded up 0.28 percent to 18,219.95 while the NASDAQ declined 0.20 percent to 5,272.77. The S&P also rose, gaining 0.02 percent to 2,143.62.
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Leading and Lagging Sectors
On Wednesday, cyclical consumer goods & services shares gained by 0.28 percent. Meanwhile, top gainers in the sector included Monarch Casino & Resort, Inc. (NASDAQ: MCRI), and Marine Products Corp. (NYSE: MPX).
In trading on Wednesday, basic materials shares fell by 0.4 percent. Meanwhile, top losers in the sector included Allegheny Technologies Incorporated (NYSE: ATI), down 5 percent, and Eldorado Gold Corp (USA) (NYSE: EGO), down 4 percent.
Top Headline
Boeing Co (NYSE: BA) delivered better than expected results for the third quarter.
The company reported 39 percent jump in core EPS to $3.51, topping estimates by $0.89 per share. Its revenue dropped 8 percent to $23.898 billion, beating expectations by $0.258 billion.
Equities Trading UP
Socket Mobile, Inc. (NASDAQ: SCKT) shares shot up 18 percent to $3.32. Socket Mobile reported Q3 earnings of $0.11 per share on revenue of $5.1 million.
Shares of Logitech International SA (USA) (NASDAQ: LOGI) got a boost, shooting up 17 percent to $25.06 on upbeat quarterly results.
Akamai Technologies, Inc. (NASDAQ: AKAM) shares were also up, gaining 15 percent to $67.83 after the company posted upbeat quarterly results.
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Equities Trading DOWN
Rocket Fuel Inc (NASDAQ: FUEL) shares dropped 15 percent to $2.45. Rocket Fuel reported Q3 non-GAAP loss of $0.08 per share on revenue of $62.6 million. The company named Stephen Snyder as CFO.
Shares of Diplomat Pharmacy Inc (NYSE: DPLO) were down 12 percent to $25.31. Diplomat Pharmacy named Paul Urick as President, while Gary Kadlec will retire on December 31, 2016. The company also disclosed that Sean Whelan will step down as CFO.
Edwards Lifesciences Corp (NYSE: EW) was down, falling around 13 percent to $98.79 on weak sales for the third quarter.
Commodities
In commodity news, oil traded down 0.54 percent to $49.69 while gold traded down 0.34 percent to $1,269.30.
Silver traded down 0.51 percent Wednesday to $17.69, while copper rose 0.16 percent to $2.14.
Eurozone
European shares were mostly lower today. The eurozone’s STOXX 600 slipped 0.38 percent, the Spanish Ibex Index rose 0.31 percent, while Italy’s FTSE MIB Index gained 0.37 percent. Meanwhile the German DAX slipped 0.39 percent, and the French CAC 40 dropped 0.99 percent while U.K. shares fell 0.93 percent.
Economics
New home sales rose 3.1 percent to an annual rate of 593,000 in September.
The Markit services PMI rose to 54.80 in October, versus a prior reading of 52.30. Economists expected a reading of 52.30.
Crude supplies dropped 600,000 barrels for the week ended October 21, the U.S. Energy Information Administration reported. However, analysts expected a gain of 400,000 barrels. Gasoline supplies dropped 2 million barrels, while distillate stockpiles fell 3.4 million barrels.
The Treasury will also auction 5-year notes at 1:00 p.m. ET.
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.