Futures are down and Treasury yields are ticking higher for the seventh day in a row ahead of closely watched inflation data. Here’s what we’re watching ahead of Wednesday’s opening bell.
- Retail favorite dogecoin has rallied 29% this week to about 26 U.S. cents alongside a broader rally in cryptocurrencies. Individual investors have been piling into cryptocurrencies in recent weeks, according to data provider VandaTrack. Crypto stocks like Bit Digital , Coinbase and Riot Blockchain have also seen a rise in volume for call options, which give investors the right to buy cryptocurrencies at a specific price later in time.
- Dogecoin is up 2.8% on Wednesday from its 5 p.m. ET level on Tuesday. Bitcoin and ether were both up too, by 1.4% and 2.7% respectively.
- Crypto-exchange operator Coinbase Global shares are up 2.6% premarket after it saw revenue surge in a volatile quarter that it said highlighted the “still-early days” of the “crypto economy.”
- Recent bitcoin convert AMC Entertainment was also nudging up ahead of the bell, by 0.6%. At the start of the week it reported an earnings jump and said it would start accepting bitcoin as payment.
- Results are due before the open from fast-food chain Wendy’s and clothing retailer Canada Goose .