Bitcoin is on the rise and stock futures are up, a day after a selloff among major technology firms dragged down broader indexes. Here’s what we’re watching as we get ready for Tuesday’s trading session.
- Bitcoin’s dollar value cracked $50,000 for the first time in a month, rising 2.4% to $50,207.72 from its 5 p.m. ET level Monday, according to data from CoinDesk. Shares of cryptocurrency companies also gained, with Coinbase COIN -0.80% Global up 1.6%. Bitcoin mining companies Hut 8 Mining and Marathon Digital Holdings MARA 1.39% added more than 3% each premarket.
Stocks of bitcoin miners were climbing alongside the cryptocurrency.
Photo: Michael Nagle/Bloomberg News
- Facebook FB -4.89% ‘s shares are up 1.4% premarket after the social media company restored services that went offline for as much as six hours Monday in an extended outage that disrupted access for users and businesses around the world. Facebook whistleblower Frances Haugen is set to testify before Congress on Tuesday.
- Shares of Amplify Energy AMPY -43.83% rose more than 7% premarket Tuesday after losing nearly half their value Monday. Amplify, a Houston-based oil and natural-gas company, said it has shut down all of its production and pipeline operations in the area as a precautionary measure after a major oil spill at the company’s platform off the coast of Orange County, Calif., over the weekend.
- Comtech Telecommunications CMTL -2.98% ‘ shares plunged more than 11% off hours after it reported quarterly earnings and said its chief operating officer would become chief executive.
- Shares of Duckhorn Portfolio NAPA 1.38% added more than 2% in offhours trading after the wine company’s financial guidance for the current year beat Wall Street expectations.
- PepsiCo PEP -0.50% shares were flat after the food-and-beverage company said its revenue rose for the recent quarter, though profit fell, while it navigates a volatile supply-chain and cost environment.
- Earnings are due from Saratoga Investment SAR 0.70% after the close.
Chart of the Day
- Cotton futures are trading at their highest price in about a decade, with growing Chinese demand being met in part by rising U.S. exports to China, a curiosity of Trump-era trade-war policies.
Write to Caitlin Ostroff at [email protected]
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