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UNIUSD

Uniswap's cryptocurrency UNI has seen a 4.19% increase in price over the last 24 hours, reaching $6.23, despite a 2.0% decline over the past week. The coin's all-time high is $44.92. Trading volume has decreased by 56.0% over the past week, while the circulating supply has risen by 0.4% to 753.77 million, which is 75.38% of the max supply. UNI's market cap is currently ranked #21 at $4.70 billion.

Portfolio Pulse from Benzinga Insights

December 12, 2023 | 7:00 pm

ATOMUSD

Cosmos Hub's cryptocurrency, ATOM, saw a significant price increase of 21.64% within 24 hours, reaching $11.69. Over the past week, ATOM has gained 15.0%, rising from $9.87. Despite the recent surge, it is still below its all-time high of $44.45. The trading volume for ATOM has increased by 260.0% over the past week, and the circulating supply has grown by 0.32% to 292.59 million. ATOM's market cap is currently ranked #26, valued at $3.40 billion.

Portfolio Pulse from Benzinga Insights

December 12, 2023 | 7:00 pm

MATICUSD

Polygon's (CRYPTO: MATIC) price has risen by 5.18% in the last 24 hours, reaching $0.87, continuing a weekly upward trend with a 5.0% gain. The coin's all-time high is $2.92. Trading volume increased by 46.0% over the past week, and the circulating supply rose by 0.37% to 9.28 billion, which is 92.83% of the max supply. MATIC's market cap is currently ranked #14 at $8.09 billion.

Portfolio Pulse from Benzinga Insights

December 12, 2023 | 7:00 pm

CAVA

DIA

ENPH

FSLR

JCI

LCID

MRVI

ORCL

QQQ

SEDG

SPY

TAN

XLE

XLF

U.S. stocks are approaching all-time highs with the VIX at nearly 3-year lows ahead of the Fed meeting. Inflation data for November showed a slight decrease, aligning with estimates. The U.S. dollar index dipped slightly, while Treasury yields were stable. Gold and Bitcoin declined, and oil prices faced downward pressure. SPY, DIA, and QQQ ETFs saw modest gains, while XLF rose and XLE fell. Solar ETF TAN dropped significantly. LCID, ORCL, CAVA, MRVI, SEDG, ENPH, FSLR, and JCI stocks had notable movements due to various company-specific news.

Portfolio Pulse from Piero Cingari

December 12, 2023 | 6:56 pm

TLT

The Federal Reserve's final meeting of 2023 is anticipated to provide crucial economic projections and a dot plot indicating future interest rate expectations. The consensus is that the rate-hiking cycle has peaked, with rates expected to stabilize between 5.25%-5.50%. Investors are focused on the FOMC's new economic projections and the dot plot for insights into the Fed's economic outlook. The September dot plot suggested a median rate of 5.6% by the end of 2023, which has not been realized, and a 50-basis-point reduction to 5.1% by the end of 2024, contrasting with market expectations of significant cuts to 4%-4.25%. A median dot projection above 4.9% for 2024 would be seen as hawkish, while a cut to 4.6% or below would be interpreted as dovish. The iShares 20+ Year Treasury Bond ETF (TLT) has risen 12% since the November FOMC meeting, reflecting market expectations for lower rates.

Portfolio Pulse from Piero Cingari

December 12, 2023 | 6:52 pm

Block (NYSE:SQ) has seen an 8.64% increase in short interest since its last report, with 22.83 million shares sold short, representing 4.15% of available shares. It would take 2.23 days to cover these short positions based on current trading volume. While an increase in short interest can indicate bearish sentiment, Block has less short interest compared to its peer group average of 5.96%. This data suggests investors should be cautious, but not necessarily expect a near-term decline in stock price.

Portfolio Pulse from Benzinga Insights

December 12, 2023 | 6:45 pm

HEI

Over the past 20 years, Heico (NYSE:HEI) has produced an average annual return of 20.58%, outperforming the market. A $100 investment in HEI 20 years ago would now be worth $4,234.56. Heico's market capitalization currently stands at $25.28 billion.

Portfolio Pulse from Benzinga Insights

December 12, 2023 | 6:01 pm

ETHUSD

On Monday, 7,836.40 Ether (ETH) valued at $17M was burned due to the EIP-1159 upgrade implemented on August 5th, 2021, which introduced a variable base fee for transactions that is permanently removed from circulation. This has led to a net annualized issuance rate of -8.90% for Ether, indicating a deflationary trend, especially with the upcoming Ethereum 2.0 upgrade that is expected to further reduce the issuance rate to 0.5-1% per year.

Portfolio Pulse from Benzinga Insights

December 12, 2023 | 6:00 pm

AAPL

AMZN

KKR

MUSQ

SONY

SPOT

KKR & Co Inc is considering the sale of its music catalog, which includes 65,000 songs, as royalty valuations decline due to high interest rates. The catalog was acquired from Kobalt Capital for $1.1 billion in 2021. Music streaming services like Spotify are experiencing revenue growth, with Spotify's stock up 151% since the start of the year. In contrast, the MUSQ Global Music Industry ETF has fallen 2.8% since its launch in July. Sony Music's share price is up 18% this year, while Warner Music is down slightly.

Portfolio Pulse from Neil Dennis

December 12, 2023 | 5:55 pm

DRIP

GUSH

MRO

OXY

USO

XOM

Oil and gas stocks are declining due to a record supply that is outpacing demand, leading to a sector sell-off. The Direxion Daily S&P Oil & Gas Exp & Prod Bear 2X Shares (DRIP) rose by 4.5% as it benefits from the downturn in the sector. OPEC+ nations' new oil cuts and U.S. record oil production have not prevented the decline. Analysts have turned bearish, with downgrades for Marathon Oil (MRO) by Morgan Stanley and a lowered price target for Exxon Mobil (XOM) by JP Morgan. DRIP, an inverse double-leveraged ETF, is in a bull cycle and could rally towards $14.50. Direxion also offers a bullish counterpart, the Direxion Daily S&P Oil & Gas Exp & Prod Bull 2X Shares (GUSH), for traders bullish on the sector.

Portfolio Pulse from Melanie Schaffer

December 12, 2023 | 5:47 pm