#socks #crypto #bitcoin #ehter
$SPY $RUT $QQQ $DIA $BTCUSD $ETHUSD $GBITS
DJIA +104.27 at 36432.22, NAS Comp +10.77 at 15982.35, S&P 500 +4.17 at 4701.70
The US stock market began another up wk with the S&P 500 (+0.1%) inching toward its intraday record from Friday. The benchmark index climbed for the 8th day running, while the DJIA (+0.3%) outperformed.
- S&P 500 +25.2% YTD
- Russell 2000 +23.7% YTD
- DJIA +19.0% YTD
- NAS Comp +19.0% YTD
The Memes
The meme sector was mixed with a Bullish bias overall.
Coinbase Global Inc. (NASDAQ:COIN) traded up by as much as 7.7% Monday morning, following last Friday’s announcement that the company will begin offering non-fungible tokens (NFTs) and Shiba Inu cryptocurrency. After markets close Tuesday, the company is scheduled to report Q-3 results that are estimated to be weaker than Q-2 results. Investors do not agree.
Shares of Coinbase are trading up: $353.92+16.87 (+5.01%) At close: 4:00p ET and $362.50 +8.58 (+2.42%) After hours: 07:59p ET, within a 52-wk range of $208.00 to $429.54. The average daily volume is about 4.8-M/shares, and 8.5-M/share traded on the day.
Gold futures settled $11.20 higher (+0.6%) at $1,828.00/oz upfor a 3rd-straight session behind a weaker USD.
The US Dollar Index (.DXY) slipped about -0.3% to $94.07.
WTI Crude Oil rose $0.71, or 0.9%, at $81.96/bbl,
On the Crypto Front
The cryptocurrency markets are back in record territory. Bitcoin has crossed 66,000, while Ethereum is trading above 4,700. Not surprisingly, price predictions are solid. And with the broader cryptocurrency market cap now barreling toward $3-T, the Bulls are in charge, with GBITS included.
A reminder: 2 wks ago I predicted GBITS would run to $300 by yrs end, today it is trading at $350.59753 against a ATH of nearly $360/each.
There was not economic news of consequence Monday.
Looking Ahead: The October NFIB Small Business Optimism (prior 99.1) will be released Tuesday at 6:00a ET, followed by October PPI, and Core PPI at 8:30a ET.
Politics: Hundreds gathered Monday in Los Angeles’ Grand Park to protest the city’s new coronavirus vaccine mandate.
The ”March for Freedom,’‘ organized by the Firefighters for Freedom, a city firefighter group that asserts that such mandates are unconstitutional.
Have a prosperous week, Keep the Faith!
