Credit: Shutterstock photoFutures for the S&P 500 index edged lower early Tuesday morning while CME ( CME ) and Cboe ( CBOE ) Bitcoin futures rebound after big, volatile losses last weekr the cryptocurrency and related stocks.
[ibd-display-video id=3017249 width=50 float=left autostart=true] The week after Christmas tends to be good for stocks, but trading volume will likely be subdued in the holiday-shortened week. No earnings are scheduled for the week while corporate news tends to be light.
Investors may get some readings on holiday sales to see how the likes of Walmart ( WMT ), Amazon ( AMZN ), Apple ( AAPL ) and other big retailers and holiday-gift makers fared. But the holiday winners and losers may not be clear for weeks.
Walmart and Apple are near buy points in flat bases.
S&P 500 futures index fell a fraction vs. fair value. Dow futures sank 0.1%. Nasdaq 100 futures declined 0.2%.
CME Bitcoin futures rose 7.5% to $15,200. Cboe Bitcoin futures shot up 9% to $15,090. Spot prices reached $15,400.89 on Coindesk, up nearly 11% vs. a day earlier.
CME Bitcoin futures opened on Dec. 17 at $20,650, but Bitcoin then retreated sharply, with the spot price undercutting $11,000 on Friday intraday before rallying to about $14,000. Bitcoin spot prices moved to $15,700 Saturday morning but then fell back below $14,000.
Even as Bitcoin and other cryptocurrencies were retreating, other companies moved to cash in the blockchain craze.
Long Island Iced Tea changed its name to Long Blockchain (LTEA), sending that stock up 183% on Thursday. Bitcoin Investment Trust (GBTC) fell 26% to 1,990 but closed higher Friday after crashing to 1,155 intraday.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
