Streetbeat News

Assets

AAPL

AMZN

MUSQ

SPOT

Amazon.com, Inc (AMZN) saw its stock rise by 2.7% on Monday, breaking through the $150 level, but was mostly flat on Tuesday. The MUSQ Global Music Industry ETF (MUSQ), with Amazon as its largest holding at 7.8%, also experienced a 0.7% increase. Amazon's music streaming service, along with Apple's (AAPL) and Spotify Technology S.A.'s (SPOT), is contributing to the growth of the music streaming industry, which is expected to generate $153 billion by 2030. Amazon's stock recently broke out from a triangle pattern and bull flag formation, suggesting a potential move towards the $171 mark. However, a doji candlestick formation indicates a possible local top and an upcoming retracement. MUSQ ETF, which covers the entire music ecosystem, holds 7.18% of Apple and 2.7% of Spotify.

Portfolio Pulse from Melanie Schaffer

December 19, 2023 | 6:35 pm

STM

STMicroelectronics (NYSE:STM) has delivered an average annual return of 14.59% over the past 15 years, outperforming the market by 2.6% annually. A $1000 investment in STM 15 years ago would be worth $7,795.67 today. The company currently has a market cap of $45.36 billion.

Portfolio Pulse from Benzinga Insights

December 19, 2023 | 6:30 pm

AMP

Over the past 10 years, Ameriprise Financial (NYSE:AMP) has yielded an average annual return of 12.95%, outperforming the market. A $1000 investment in AMP a decade ago would now be worth $3,372.56. The company's current market capitalization stands at $38.06 billion.

Portfolio Pulse from Benzinga Insights

December 19, 2023 | 6:30 pm

MIND

MIND Technology's Seamap unit has received an order for multiple GunLink source controllers, amounting to approximately $10.2 million, under a framework supply agreement with a major international seismic contractor.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 6:29 pm

SPY

Federal Reserve Bank of Atlanta President Raphael Bostic stated that while the Fed's inflation target is 2%, this is not the only possible target. However, he emphasized that the current target will be maintained until price stability is achieved.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 6:19 pm

SPY

Federal Reserve Bank of Atlanta President Raphael Bostic stated that it is not the appropriate time to consider altering the central bank's inflation goal. He emphasized that while the goal should not be set in stone, the current focus should be on addressing the high inflation rates.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 6:17 pm

CRDT

EWU

IHY

PGHY

PICB

SPY

PIMCO CIO Daniel Ivascyn has expressed concerns about a potential 'hard landing' for the UK economy, predicting a significant downturn next year. He sees more risk in the UK and Europe compared to the resilient US economy. Ivascyn favors UK government bonds over US ones, anticipating economic hardship in the UK. The UK economy contracted in October, and bond yields have fallen, which is good for bondholders but negative for equities. Investors in the iShares MSCI United Kingdom ETF (EWU) should monitor these developments. Ivascyn also highlighted opportunities in global bond investing, mentioning ETFs that track international bonds, including PICB, PGHY, CRDT, and IHY. In contrast, the US economy's growth is reflected in the SPDR S&P 500 ETF (SPY), which has outperformed EWU over the past year.

Portfolio Pulse from Surbhi Jain

December 19, 2023 | 6:05 pm

CME

Over the past 20 years, CME Group (NASDAQ:CME) has delivered an average annual return of 14.44%, outperforming the market. A $100 investment in CME stock two decades ago would be worth $1,483.53 today. CME Group currently has a market cap of $76.38 billion.

Portfolio Pulse from Benzinga Insights

December 19, 2023 | 6:00 pm

ETHUSD

On Monday, 12,559.96 Ether (ETH) valued at $26.9 million was burned, permanently removing it from circulation. This is a result of the EIP-1159 upgrade implemented on August 5, 2021, which introduced a variable base fee for transactions that is burned. The Ethereum network currently has a 4% annual issuance rate of new Ether, 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 -16.66% yesterday.

Portfolio Pulse from Benzinga Insights

December 19, 2023 | 6:00 pm

WDAY

Over the past 10 years, Workday (NASDAQ:WDAY) has produced an average annual return of 12.72%, outperforming the market by 2.74% on an annualized basis. A $1000 investment in WDAY a decade ago would be worth $3,299.75 today. Workday's market capitalization currently stands at $71.73 billion.

Portfolio Pulse from Benzinga Insights

December 19, 2023 | 5:30 pm