Streetbeat News

Assets

SPY

UNG

USO

The latest U.S. Baker Hughes Oil Rig Count report shows no change in oil rigs, remaining at 117, while the gas rig count decreased by 2 to 499 from last week.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 6:28 pm

USO

XLE

The Biden administration has been strategically buying crude oil to replenish the Strategic Petroleum Reserve (SPR) as prices fell, capitalizing on lower prices to recover stocks depleted in 2022 after a release aimed at stabilizing the market post-Russia's invasion of Ukraine. The Department of Energy (DOE) reported purchasing 20.13 million barrels at an average price of $76.12, with plans to buy more. This move, alongside coordinated international releases, helped reduce gasoline prices significantly. However, the success of this strategy in the long term depends on various factors, including geopolitical developments and domestic policies.

Portfolio Pulse from Neil Dennis

February 02, 2024 | 6:09 pm

BTCUSD

ETHUSD

Bloomberg Intelligence ETF analyst James Seyffart predicts a 60% chance of spot Ethereum ETFs being approved in 2024, following the significant approval of spot Bitcoin ETFs in the United States. Seyffart highlights the efficiency and investment benefits of spot ETFs over futures ETFs and expresses cautious optimism for Ethereum ETFs, despite less confidence compared to Bitcoin ETF approvals. He also mentions political influences on the SEC's decision-making process.

Portfolio Pulse from Murtuza Merchant

February 02, 2024 | 6:07 pm

SHEL

Financial analysts have observed a significant bullish trend in options trading for Shell (NYSE:SHEL), with 54% of trades being bullish. The analysis highlighted 11 unusual trades, with a focus on a price range between $60.0 and $72.5 for Shell's stock. The largest trades included both puts and calls, with varying sentiments. Shell, a major oil and gas company, saw its stock price decrease by -1.12%, with a current price of $63.36. The company's next earnings report is expected in 90 days.

Portfolio Pulse from Benzinga Insights

February 02, 2024 | 6:02 pm

LSCC

Lattice Semiconductor (NASDAQ:LSCC) has significantly outperformed the market with an annualized return of 50.54% over the past 5 years, turning a $100 investment into $778.10. The company's market capitalization stands at $8.45 billion.

Portfolio Pulse from Benzinga Insights

February 02, 2024 | 6:00 pm

AMP

Over the past 10 years, Ameriprise Financial (NYSE:AMP) has outperformed the market with an average annual return of 13.96%, turning a $1000 investment into $3,773.13 today. The company currently has a market capitalization of $38.68 billion.

Portfolio Pulse from Benzinga Insights

February 02, 2024 | 6:00 pm

ETHUSD

On Thursday, 4,642.37 Ether (ETH) worth approximately $10.66 million was burned, permanently removing it from circulation. This action is part of the Ethereum blockchain's EIP-1159 upgrade, which introduced a variable base fee for transactions that is burned. The Ethereum network is currently issuing new Ether at a 4% annual rate, expected to decrease with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -3.54% yesterday.

Portfolio Pulse from Benzinga Insights

February 02, 2024 | 6:00 pm

AMZN

BABA

CVNA

DECK

MELI

NKE

RIVN

TSLA

Today's session revealed significant whale activity in the options market for 9 consumer discretionary stocks, indicating potential trading opportunities. Notable activities include bearish and bullish sentiments across various stocks with different expiration dates and strike prices. TSLA, AMZN, GM, RIVN, NKE, DECK, BABA, CVNA, and MELI were the stocks involved in these transactions, showcasing a mix of call and put options with varying sentiments and total trade prices.

Portfolio Pulse from Benzinga Insights

February 02, 2024 | 5:35 pm

AAL

CAT

CPRT

HTZ

SYM

UBER

VRT

Today's whale activity in the Industrials sector highlighted unusual options trading for several companies, including bearish, bullish, and neutral sentiments across various expiration dates and strike prices. Notable trades were observed in CAT, BE, UBER, AAL, CPRT, SYM, BA, HTZ, VRT, and DE, with significant total trade prices and volumes indicating potential market movements.

Portfolio Pulse from Benzinga Insights

February 02, 2024 | 5:35 pm

AAPL

ACN

AMD

MARA

NVDA

ORCL

PLTR

QCOM

SNOW

WOLF

Today's session highlighted significant options activity in the Information Technology sector, with notable movements in stocks like NVDA, AAPL, QCOM, SNOW, AMD, PLTR, WOLF, ACN, MARA, and ORCL. The activity ranged from neutral to bullish and bearish sentiments, involving both call and put options with various expiration dates and strike prices. This options activity could indicate traders' expectations and market sentiment towards these stocks.

Portfolio Pulse from Benzinga Insights

February 02, 2024 | 5:35 pm