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Sharmin Mossavar-Rahmani, CIO of Goldman Sachs' private wealth management group, expressed skepticism about Bitcoin ETFs, stating that Bitcoin is not a legitimate investment but rather 'total speculation'. Despite a false announcement of a Bitcoin ETF approval, which led to market volatility, Goldman Sachs has not applied for a Bitcoin ETF and advises clients against investing in cryptocurrencies. Bitcoin's price experienced a pullback, trading under $43,000 after previously crossing $49,000.

Portfolio Pulse from Rounak Jain

January 13, 2024 | 5:35 am

BLK

BTCUSD

GBTC

Kevin O'Leary, known from 'Shark Tank', has expressed skepticism about Bitcoin ETFs, citing concerns over the fees charged by issuers and doubting the survival of all 11 recently SEC-approved Bitcoin ETFs. He believes only ETFs from large firms like Fidelity and BlackRock Inc. (NYSE:BLK) will succeed. O'Leary also disagreed with Cathie Wood's prediction of Bitcoin reaching $1.5 million by 2030, unless an economic disaster occurs. He estimates Bitcoin could reach $150,000-$250,000 by 2030. Despite his doubts, he acknowledges the importance of regulatory approval for the crypto industry's progress.

Portfolio Pulse from Rounak Jain

January 13, 2024 | 4:07 am

IVV

SPY

VAW

VCR

VIS

VOO

XLB

XLI

XLY

The S&P 500 Index and related ETFs like SPY, IVV, and VOO ended 2023 with 25% gains, driven by Technology and Communication Services sectors. For 2024, Fidelity's sector managers suggest Materials, Industrials, and Consumer Discretionary sectors could lead if the U.S. achieves a soft landing. Materials sector ETFs include XLB and VAW; Industrials are tracked by XLI and VIS; Consumer Discretionary by XLY and VCR.

Portfolio Pulse from Surbhi Jain

January 12, 2024 | 9:45 pm

BTCUSD

DOGEUSD

ETHUSD

SHIBUSD

WYNN, a meme cryptocurrency, has seen a significant increase in mentions and popularity, partly due to a tweet from a crypto influencer featuring a Drake-related meme. The token's market capitalization surged 500% in two days, raising questions about the potential for a new meme coin era. While WYNN's rise is notable, it remains uncertain if it will challenge established meme coins like Dogecoin and Shiba Inu. Celebrity influence, as seen with Drake's indirect endorsement, continues to play a significant role in the crypto market.

Portfolio Pulse from Murtuza Merchant

January 12, 2024 | 9:33 pm

AVGO

KKR

EQT and KKR are reportedly among the potential buyers for a Broadcom asset valued at around $5 billion. The sale is part of Broadcom's strategy to divest certain assets. The news indicates a competitive bidding process that could attract private equity firms and other investors interested in the technology sector.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 9:24 pm

GOOGL

Over the past 15 years, Alphabet (NASDAQ:GOOGL) has produced an average annual return of 22.19%, outperforming the market by 9.61% on an annualized basis. With a current market capitalization of $1.79 trillion, a $100 investment in GOOGL stock 15 years ago would be worth $1,906.24 today. The article highlights the impact of compounded returns on investment growth over time.

Portfolio Pulse from Benzinga Insights

January 12, 2024 | 8:30 pm

MDT

Medtronic (NYSE:MDT) has received mixed ratings from 4 analysts in the past three months, with an average 12-month price target of $89.75, slightly down from the previous $90.00. Analysts' actions include both upgrades and downgrades, reflecting varied perspectives on the company's performance. Medtronic is a major medical-device company with a strong market presence, but it faces challenges in revenue growth, ROE, and ROA compared to industry averages, while its net margin and debt management are positive indicators.

Portfolio Pulse from Benzinga Insights

January 12, 2024 | 8:01 pm

GBTC

The SEC's approval of 11 spot Bitcoin ETFs, including the Grayscale Spot Bitcoin ETF (GBTC), has provided traditional finance with direct Bitcoin exposure. Bitcoin, Ethereum, and Dogecoin experienced price movements following the approval, with Bitcoin nearing $50,000 before dropping 5%, Ethereum reaching a 20-month high before a 4.5% drop, and Dogecoin continuing a downtrend. The short-term price action for these cryptocurrencies is uncertain, with potential bullish and bearish scenarios outlined based on technical indicators.

Portfolio Pulse from Melanie Schaffer

January 12, 2024 | 7:56 pm

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AZO

DAL

KIE

LOW

PLOW

UAL

A major winter storm in the Midwest is expected to impact various sectors, with potential benefits for retailers like Home Depot and Lowe's, and AutoZone due to increased sales of winter essentials. Douglas Dynamics may gain if the winter is harsh, as it manufactures snow plows and salt spreaders. Insurers could face high claims, affecting the SPDR S&P Insurance ETF. Airlines are experiencing delays and cancellations, with negative sentiment impacting stocks like United, Delta, and American Airlines.

Portfolio Pulse from Neil Dennis

January 12, 2024 | 7:54 pm

AAL

BAC

DAL

DIA

GDX

GLD

IWM

JETS

NLOP

QQQ

SPY

TSLA

UAL

UNH

XLE

XLY

U.S. stocks showed mixed performance with the S&P 500 and Nasdaq stable, while the Dow Jones fell 0.4%. The PPI rose less than expected, and Bitcoin dropped over 6% after a spot ETF approval. Gold rose, surpassing $2,050/oz. UnitedHealth, Tesla, and Bank of America stocks fell post-earnings, while BNY Mellon and Net Lease Office Properties rose. Delta and other airlines declined due to revised earnings forecasts.

Portfolio Pulse from Piero Cingari

January 12, 2024 | 7:33 pm