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RIO

Rio Tinto (LSE: RIO) is set to initiate the world's largest mining project in Guinea's Simandou mountains, overcoming decades of challenges. The project includes two iron mines, a 400-mile rail system, and a port, with an initial investment of $6.2 billion. Partners include Chalco Iron Ore Holdings and China Baowu Steel Group. The high-grade iron ore from Simandou is crucial for cleaner steelmaking processes, aligning with global climate change goals. Production is expected to start in 2025 with an annual capacity of 60 million tons, Rio Tinto's share being about 27 million tons.

Portfolio Pulse from Stjepan Kalinic

January 08, 2024 | 8:54 pm

SPY

U.S. Treasury Secretary Janet Yellen has stated that the current funding for the IRS is adequate to support its modernization efforts in the short to medium term. Additionally, Yellen believes that the top-line spending deal agreed upon by Congress aligns with the debt ceiling agreement from the previous June.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 8:36 pm

APH

Amphenol (NYSE:APH) has delivered an average annual return of 18.8% over the past 5 years, outperforming the market by 5.97% annually. A $1000 investment in APH 5 years ago would be worth $2,356.64 today. Amphenol's market cap stands at $56.52 billion.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 8:30 pm

MAR

Marriott Intl (NASDAQ:MAR) has delivered an average annual return of 15.66% over the past 5 years, outperforming the market by 2.83% on an annualized basis. A $100 investment in MAR 5 years ago would be worth $205.75 today. The company's current market capitalization stands at $65.32 billion.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 8:30 pm

BXP

CCI

VNQ

VNQI

U.S. office space vacancies have reached their highest levels since 1979, with nearly 20% unleased in major cities by Q4 2023. The rise is attributed to overbuilding in the past and the shift to home and hybrid work models post-COVID-19. Texas cities like Houston, Dallas, and Austin face the highest vacancy rates, impacting local REITs such as Crown Castle Inc (CCI), which saw a 15.5% decline in 2023. Conversely, Boston Properties, Inc (BXP) in areas with lower vacancies saw a 5.3% increase. The article also compares U.S.-based REITs, like those in the Vanguard Real Estate Index Fund ETF (VNQ), which rose 6.2%, to the Vanguard Global ex-U.S. Real Estate Index Fund ETF (VNQI), with a smaller gain of 1.2%, reflecting challenges in the global market, particularly in China.

Portfolio Pulse from Neil Dennis

January 08, 2024 | 8:09 pm

FLNG

Flex LNG Ltd. (FLNG) has been informed that the charterer of Flex Constellation will not extend their charter option. The ship was on a three-year Time Charter since May 17, 2021, with an extension option of up to three years. Flex LNG expects to take redelivery of the ship in Q2 2024. The current charter rate is $80,000 per day, but market rates for new charters are quoted at $90-100,000 per day. The company plans to market the ship for new opportunities after a special survey, highlighting its environmentally friendly features in line with the Global Methane Pledge.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 8:02 pm

BLK

SCBFF

Bitcoin has surged to $47,000, driven by expectations of U.S. ETF approvals. Financial institutions like BlackRock (BLK), Ark, Fidelity, Invesco, Galaxy Digital, and WisdomTree have updated their S-1 applications with the SEC. The SEC has until Jan. 10 to decide on these applications. Standard Chartered (SCBFF) predicts Bitcoin could attract $50-$100 billion in spot ETF inflows in 2024, potentially pushing its price to $200,000 by the end of 2025.

Portfolio Pulse from Murtuza Merchant

January 08, 2024 | 7:44 pm

CAN

MARA

RIOT

Mining and crypto-related stocks are up due to Bitcoin's strength as the market anticipates an SEC decision on a spot bitcoin ETF.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 7:35 pm

WELL

Welltower (NYSE:WELL) has delivered an average annual return of 16.43% over the past 15 years, outperforming the market by 4.5% annually. A $100 investment in WELL 15 years ago would be worth $1,051.30 today. The company's current market capitalization stands at $48.99 billion.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 7:30 pm

LINKUSD

Chainlink's (CRYPTO: LINK) price has risen by 5.07% in the last 24 hours to $14.21, despite an 8.0% decline over the past week from $15.46. The coin's all-time high is $52.70. Trading volume increased by 68.0%, and the circulating supply rose by 1.62% to 568.10 million, which is 56.81% of the max supply. LINK's market cap is now $8.07 billion, ranking it 14th.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 7:03 pm