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Assets

USO

Oil prices declined after U.S. inventory data indicated a strong build-up in gasoline and distillate stocks, while crude stocks also increased. Nymex WTI and Brent crude both fell, with WTI remaining flat and Brent slightly down. The United States Oil ETF (USO) also dropped 0.1%. The Energy Information Administration (EIA) reported increases in crude oil, gasoline, and distillate stockpiles. The EIA forecasts flat crude oil prices for 2024 and 2025, expecting a balanced global supply and demand. U.S. gasoline pump prices are near a two-year low, with the potential to decrease further unless affected by an arctic blast.

Portfolio Pulse from Neil Dennis

January 10, 2024 | 6:04 pm

TMUS

Over the past 10 years, T-Mobile US (NASDAQ:TMUS) has produced an average annual return of 17.34%, outperforming the market. A $1000 investment in TMUS a decade ago would be worth $5,016 today. T-Mobile US currently has a market cap of $188.47 billion.

Portfolio Pulse from Benzinga Insights

January 10, 2024 | 6:00 pm

ETHUSD

On Tuesday, 4,398.82 Ether (ETH) valued at approximately $10.7 million was burned, permanently removing it from circulation. This is a result of the EIP-1159 upgrade implemented on August 5th, 2021, which introduced a variable base fee for transactions that is burned. The current issuance rate of new Ether is 4% annually, expected to drop to 0.5-1% with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -3.21% yesterday.

Portfolio Pulse from Benzinga Insights

January 10, 2024 | 6:00 pm

ARKB

The Cboe BZX Exchange has approved the listing of the ARK 21Shares Bitcoin ETF (ARKB), pending the SEC's decision on a spot Bitcoin ETF. Bloomberg ETF analyst Eric Balchunas called this a 'very late step' in the process, suggesting the ETF could list as soon as the day after approval. If the SEC approves on Jan. 10, ARKB could trade from Jan. 11, marking a significant step for cryptocurrency in mainstream markets.

Portfolio Pulse from Murtuza Merchant

January 10, 2024 | 5:52 pm

BAC

C

GS

SPY

WFC

XLF

U.S. banks are profiting by borrowing from the Fed's bank term funding program (BTFP) at rates lower than what the Fed pays on reserve deposits. Banks have borrowed $141 billion at rates below 5%, while the Fed pays 5.4% on reserves, creating a 0.4% profit margin. This arbitrage has helped financial sector stocks, including BAC, C, GS, and WFC, outperform the market. However, this practice has a downside for taxpayers, as the Fed's interest payments on reserves exceed its income, leading to a deferred asset of $116.9 billion, which delays Treasury remittances until 2027.

Portfolio Pulse from Piero Cingari

January 10, 2024 | 5:50 pm

GTY

Getty Realty Corp. (NYSE:GTY) reported on its 4Q23 and FY23 business activities, including $326 million invested in properties, a $75 million investment pipeline, and $295 million raised in new equity and debt. The company made several acquisitions, sold nine properties, and provided initial FY24 earnings guidance with AFFO expected to be $2.29 to $2.31 per diluted share. GTY shares saw a 1.01% increase to $29.57.

Portfolio Pulse from Akanksha Bakshi

January 10, 2024 | 5:44 pm

CBRE

CBRE Group (NYSE:CBRE) has delivered an average annual return of 15.16% over the past 5 years, outperforming the market by 2.38% on an annualized basis. A $100 investment in CBRE stock 5 years ago would be worth $203.88 today. The company currently has a market capitalization of $26.43 billion.

Portfolio Pulse from Benzinga Insights

January 10, 2024 | 5:30 pm

SPGI

S&P Global (NYSE:SPGI) has delivered an average annual return of 18.87% over the past 5 years, outperforming the market by 6.09% on an annualized basis. A $100 investment in SPGI 5 years ago would be worth $243.54 today. The company currently has a market cap of $136.59 billion.

Portfolio Pulse from Benzinga Insights

January 10, 2024 | 5:30 pm

CBT

FCX

LIN

LYB

OLN

Fidelity has identified five materials sector stocks with attractive supply-demand dynamics for 2024, anticipating a sector turnaround. The selected stocks are Freeport-McMoRan Inc (FCX), LyondellBasell Industries NV (LYB), Olin Corp (OLN), Cabot Corp (CBT), and Linde PLC (LIN). These companies are expected to benefit from factors such as copper supply challenges, cost advantages from natural gas usage, and alignment with global energy transition trends.

Portfolio Pulse from Surbhi Jain

January 10, 2024 | 5:16 pm

APD

Over the past 20 years, Air Products & Chemicals (NYSE:APD) has delivered an average annual return of 8.68%, outperforming the market. A $1000 investment in APD 20 years ago would be worth $5,220.30 today. The company currently has a market cap of $59.58 billion. The article highlights the impact of compounded returns on investment growth over time.

Portfolio Pulse from Benzinga Insights

January 10, 2024 | 5:00 pm