Bitcoin Price Exceeds $ 50,000: What To Consider With Today’s Exchange Opening

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WSJ.com: Markets

Updated October 5, 2021 9:43 a.m. ET

Bitcoin is on the rise, with stocks opening higher a day after a sell-off at major tech companies dragged broader indices down. Here’s what we’re watching as the trading session begins on Tuesday.

  • Bitcoin’s dollar value cracked $ 50,000 for the first time in a month, rising up to 2.8% from its 5 p.m. ET level on Monday to $ 50,361.60 before falling to $ 50,110.61, according to data from CoinDesk. With Coinbase COIN. also gained shares in cryptocurrency companies 4.55%

    Global opening 1.1% higher. Bitcoin mining company Hut 8 Mining and Marathon Digital Holdings MARA 9.80%

    each added more than 3%.

Bitcoin miner’s shares rose in line with the cryptocurrency.


Photo:

Michael Nagle / Bloomberg News

  • Facebook FB 2.24%

    ‘s shares rose 1.1% early Tuesday after the social media company restored services that were offline for up to six hours on Monday due to an extended outage that disrupted access for users and businesses around the world . The Facebook whistleblower Frances Haugen will testify on Tuesday before the congress.

  • Shares of Amplify Energy AMPY -0.31%

    opened 4% higher after losing nearly half of its value on Monday. Amplify, a Houston-based oil and natural gas company, has ceased all of its production and pipeline operations in the area as a precautionary measure following a major oil spill on the company’s platform off the coast of Orange County, California. , over the weekend.

  • Comtech telecommunications CMTL -11.23%

    Shares plunged 10% after the company announced quarterly results and announced that its chief operating officer would become chief executive.

  • Shares in the Duckhorn Portfolio NAPA -8.04%

    rose 2.1% after the wine company’s financial forecast for the current year surpassed Wall Street’s expectations.

  • PepsiCo PEP 0.69%

    Shares rose 0.8% after the food and beverage company announced that its sales rose for the last quarter, although earnings fell while it moved in a volatile supply chain and cost environment.

  • Energy company stocks rose as Brent crude, the international benchmark, rose 1.4% to $ 82.40 a barrel, its highest level since 2018. Occidental Petroleum OXY 3.19%

    and Marathon Oil MRO 3.51%

    Stocks added about 3% each.

  • US Energy USEG 2.86%

    Shares rose 13% after purchasing a portfolio of approximately $ 99.5 million manufacturing oil-weighted assets, the majority of which are owned by Lubbock Energy Partners, Synergy Offshore and certain companies controlled by Sage Road Capital will.

  • The proceeds are from Saratoga Investment SAR. due 1.42%

    after closing.

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 soaring US exports to China, a curiosity of Trump-era trade war policies.

Write to Caitlin Ostroff at caitlin.ostroff@wsj.com

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