Bitcoin hits new ATH above $95,000, altcoins mixed, Wall Street sideways
● Futures contracts tied to the Nasdaq 100 fell slightly late Wednesday as investors analyzed Nvidia's all-important earnings report.
● Nasdaq 100 and S&P 500 futures fell slightly, nearly 0.2%. Dow Jones futures fell 10 points and were essentially flat.
● Investors closely watched Nvidia's earnings report, as the chipmaker has wowed Wall Street for more than a year as a major beneficiary of artificial intelligence. Despite the company's third-quarter results that beat expectations and gave strong guidance, shares fell more than 2% in after-hours trading.
● Nvidia shares fell about 0.8% during regular trading hours on Wednesday following the release of its earnings report.
● The after-hours action "shows how high Nvidia's expectations are," Aswath Damodaran, a finance professor at New York University's Stern School of Business, said on CNBC's "Closing Bell: Overtime."
● On the other hand, Snowflake's stock rose more than 19% after the company's third-quarter results beat expectations.
● The action came after a mixed day on Wall Street, with the S&P 500 closing almost flat. The Dow rose nearly 140 points, while the Nasdaq Composite fell 0.1%.
● Traders will focus on Thursday's economic data, including initial jobless claims and existing home sales data. Cleveland Fed President Beth Hammock, Chicago Fed President Austan Goolsbee and Kansas City Fed President Jeff Schmid are also expected to comment throughout the day.
● On the corporate earnings front, investors will analyze reports from Gap and Intuit after the market closes.
●BTC just broke through a new high of $95,000 this morning and is holding near that level after Donald Trump considered whether to create a new position in the White House dedicated to cryptocurrency policy.
●The top asset has risen sharply in the past two weeks, mainly due to the expectation of Trump's victory in the 2024 presidential election.
As Bitcoin continues to set new highs near $95,000, the altcoin market has seen mixed performance.
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