Most Actively Traded Stocks For Tuesday, Feb. 13, 2024

(MENAFN- Baystreet) Tuesday's Biggest Movers: ARM Holdings, Tesla, Nvidia, and More

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    Most Actively Traded Stocks for Tuesday, Feb. 13, 2024

    Watch cryptocurrencies today after Bitcoin cracked above the $50,220 level. At a price not seen in two long years, the renewed bullishness lifts Ethereum (ETH-USD), too. Retail investors initially sold Grayscale Bitcoin ETF but then inflows increased in the weeks that followed.

    The S&P 500's breakout above 5,000 fueled BTC prices. The pair will continue to feed off the bullishness unless markets have any bad news to worry about. Until then, the Dow will rise, too. Analysts downgraded Salesforce (CRM) and Hershey (HSY) to limit the index's rise. Conversely, Diamondback Energy (FANG) announced yesterday that it would buy Endeavor Energy Partners. After closing at ~ $166, trading volumes could lift the stock again today.

    In the days ahead, quarterly earnings from both Kraft Heinz (KHC) and Coca-Cola (KO) will reveal the health of the consumer. John Deere (DE) will need to post strong results to indicate strong farming activity.

    On the economics front, the January 2024 inflation report will determine the market's direction for the rest of the day. Watch U.S. bond yields closely. If they rise, it indicates higher expectations for rates remaining in the 5% for much longer. Conversely, a drop would reflect an increased chance of rate cuts in 2024.

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