Bitcoin climbed above $71,000 for the first time since June, as traders speculate about potential outcomes from next week's US election. Crypto stocks gained in overnight trading. MicroStrategy rose 4.2%; CleanSpark rose 3.6%; Bitfarms rose 2.8%; Marathon Digital rose 2.1%; Coinbase rose 1.6%; Riot Platforms rose 1.3%.
Trump-linked stocks mixed in overnight trading. Trump Media & Technology rose 5.1%; Rumble rose 3.7%; Phunware fell 9.1%. Shares of Donald Trump’s social media company surged more than 21% Monday, on the heels of the Republican presidential nominee’s campaign rally in New York City.
Ford said on Monday it expects to hit the lower end of its full-year profit guidance, dropping the company's shares 5.6% in overnight trading, as a price war hits the U.S. automaker's bottom line.
Cadence Design raised the midpoint of its annual profit forecast on Monday, betting on the boom in generative AI to drive demand for its software used to design complex chips that power those systems, sending its shares up 6.3% in overnight trading.
VF Corp, the North Face and JanSport parent surged 24.1% on better-than-anticipated earnings for the fiscal second quarter. VF Corporation posted adjusted earnings of 60 cents per share and revenue at $2.76 billion, exceeding consensus forecasts of 37 cents in earnings per share and $2.71 billion in revenue from analysts polled by LSEG. The Colorado-based company also announced a quarterly dividend of 9 cents per share.
