Earnings

The S&P 500 remains in a broader uptrend, but a minor downtrend and a nearby resistance band are keeping the recovery selective. Traders are watching Fed commentary, Micron earnings, oil headlines and Friday’s jobs report for the next market catalyst.

Robinhood's shares fell over 13% following a Q3 earnings miss. Despite the setback, JMP Securities raised its price target to $33, maintaining a bullish outlook.

Following Coinbase’s Q3 earnings miss, the upcoming U.S. presidential election is now a major short-term catalyst for Coinbase and the crypto industry.

Bitcoin mining profitability has reached an all-time low, with miners earning just $43,600 per exahash per second in daily block rewards in August 2024, according to JPMorgan. This marks a significant drop from the peak of $342,000 per EH/s in November 2021, as rising network hashrate and increased mining difficulty continue to pressure the industry.

The company's loss per share doubled to $0.32.