Streetbeat News

Assets

AAPL

AMZN

GLD

GOOG

META

MSFT

NVDA

QQQ

SPY

TSLA

USO

The stock market has rallied since early November, with the Invesco QQQ Trust Series 1 (QQQ) consolidating at the resistance zone's lower band. The Fed faces a challenge in tightening financial conditions without derailing the market, as the market may interpret their actions to fuel further gains. CPI and PPI data releases are anticipated, but the market's focus is on the upcoming FOMC meeting and Powell's press conference. Market mechanics, AI frenzy, and expectations of rate cuts in 2024 are driving the market higher. Deflation in China may help lower U.S. inflation, while Japan's yen fell after rate hike comments were walked back. Early trade money flows show positive trends for NVIDIA (NVDA) and Tesla (TSLA), but negative for Apple (AAPL), Amazon (AMZN), Alphabet (GOOG), Meta Platforms (META), and Microsoft (MSFT). The SPDR S&P 500 ETF Trust (SPY) and QQQ show mixed flows. Gold and oil trading are active, with the SPDR Gold Trust (GLD) and United States Oil ETF (USO) being the most popular ETFs. Bitcoin (BTC) dropped as whales sold at $45,000 instead of pushing for a run to $50,000.

Portfolio Pulse from The Arora Report

December 11, 2023 | 5:21 pm

NTES

Over the past 15 years, NetEase (NASDAQ:NTES) has produced an average annual return of 24.03%, outperforming the market with an annualized outperformance of 12.69%. A $1000 investment in NTES 15 years ago would be worth $27,015.38 today. NetEase's market capitalization currently stands at $67.95 billion.

Portfolio Pulse from Benzinga Insights

December 11, 2023 | 5:00 pm

VLO

Over the past 20 years, Valero Energy (NYSE:VLO) has produced an average annual return of 12.55%, outperforming the market by 5.12% on an annualized basis. A $1000 investment in VLO 20 years ago would be worth $11,012 today. Valero Energy's market capitalization currently stands at $42.18 billion.

Portfolio Pulse from Benzinga Insights

December 11, 2023 | 5:00 pm

COIN

MARA

RIOT

Shares of crypto-related companies COIN, MARA, and RIOT are trading lower due to a decline in Bitcoin prices.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 4:53 pm

OXY

Occidental Petroleum executives have announced plans to reduce costs from CrownRock assets without pursuing significant production growth, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 4:42 pm

ATUS

Altice USA is negotiating the sale of Cheddar News to Regent LP, a private equity firm. The deal may involve an earn-out structure, with no initial payment but potential future proceeds for Altice based on Cheddar's performance, possibly reaching $50 million. Altice USA, facing a nearly 60% stock price drop and broadband losses, previously acquired Cheddar for $200 million in 2019. Regent has a history of media sector investments. No final deal is confirmed, and Altice USA declined to comment on the ongoing private discussions.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 4:40 pm

SPY

The U.S. Treasury held an auction for 3-year notes, resulting in a yield of 4.490%, which is lower than the previous auction's yield of 4.701%.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 4:33 pm

OXY

An Occidental Petroleum executive announced plans to sell up to $6 billion in assets within 18 months following the closure of a deal. This move is part of Occidental's strategy to streamline operations and reduce debt.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 4:24 pm

OXY

Occidental Petroleum Corporation has projected a decade of oil development in the Permian Basin, with plans to utilize five rigs for the operation. This long-term outlook underscores the company's commitment to the region and indicates a steady pace of production.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 4:20 pm

BMEA

CLSK

COGT

COIN

GIL

HIVE

MARA

RIOT

On Monday, several stocks experienced declines, with notable losses in the biotech sector and among companies associated with Bitcoin due to a pullback in its price. Cogent Biosciences and Biomea Fusion reported clinical trial data, resulting in significant drops in their share prices. Companies like CleanSpark, HIVE Digital Technologies, Riot Platforms, and Marathon Digital Holdings were affected by the Bitcoin price movement. Gildan Activewear announced a leadership change, and Tellurian updated its executive team.

Portfolio Pulse from Avi Kapoor

December 11, 2023 | 4:07 pm