Here is what you need to know on Wednesday, March 19:
Bitcoin leads the headlines as it breaks $40,000 and heads for $30,000, in the process breaking the 200-day moving average. Crypto-related stocks suffer premarket, and Tesla drops 3% due to its investment in Bitcoin. Cryptocurrency had been under pressure this week with news of China issuing fresh curbs accelerated losses.
Tech stocks all look set for losses as the Nasdaq futures drift lower as investors fret over inflation and the release of Fed minutes. The 10-year yield rises to 1.66% ahead of the release.
Retailers continue their impressive return to form with Target (TGT) and Lowes (LOW) surpassing earnings estimates.
The dollar is continuing to move lower but decelerating, now at 1.2213 versus the euro. Oil is lower despite reports of Iranian exports dropping, and Gold is flat at $1,864.
European markets are all lower, FTSE is -1%, Dax -2%, and EuroStoxx -1.5%.
US futures are also lower with the Nasdaq down 1.5%, S&P -1%, and the Dow -1%.
New York State to open a criminal probe against the Trump organization.
Israel says no timeframe for an end to hostilities in Gaza.
ECB warns of growing insolvencies when pandemic supports end.
Biden administration to remove sanctions on CEO and company behind NordStream 2 pipeline carrying Russian gas to Germany.
AZN third booster is enough to fight covid variants, according to a new study-FT.
JetBlue (JBLU) to start transatlantic services to London.
Target (TGT) beat earnings, EPS $3.69 versus $2.25 expected.
Lowe’s (LOW) also beats at $3.21 versus $2.62 expected.
TSLA, SQ, COIN, RIOT, MARA, MSTR all down sharply in the premarket as Bitcoin dumps.
Southwest (LUV) April revenue up from March, leisure fare levels nearing 2019 levels.
Vipshop (VIPS) down 6% premarket on earnings.
Carnival (CCL) announces winter sailings around Canary islands.
Take-Two (TTWO) shares up 2.3% in premarket after results.
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Source: Benzinga
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