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BTCUSD

Bitcoin (BTC) has seen a significant increase of 4.68% in the last 24 hours, reaching a price of $43,761.00. Over the past week, the cryptocurrency has risen over 14%, up from $38,028.62. Despite this growth, it remains below its all-time high of $69,045.00. Trading volume has surged by 44% in the past week, while the circulating supply has slightly decreased by 0.07%. Bitcoin currently holds the top market cap position at $855.03 billion.

Portfolio Pulse from Benzinga Insights

December 05, 2023 | 7:00 pm

ABT

Over the past 10 years, Abbott Laboratories (NYSE:ABT) has produced an average annual return of 10.95%, outperforming the market by 1.25% on an annualized basis. A $1000 investment in ABT a decade ago would be worth $2,820.16 today. Abbott Laboratories currently has a market capitalization of $182.13 billion.

Portfolio Pulse from Benzinga Insights

December 05, 2023 | 6:30 pm

AMC

CAG

COIN

MCD

Dogecoin (CRYPTO: DOGE), a cryptocurrency that began as a joke, celebrates its 10th anniversary. Created by Jackson Palmer and Billy Markus, Dogecoin was based on the Doge meme and has seen significant returns for early investors. It gained popularity with support from Elon Musk and was added to trading platforms like Coinbase Global (NASDAQ:COIN). Conagra Brands (NYSE:CAG) mentioned Dogecoin in relation to its Slim Jim brand, and AMC Entertainment Holdings (NYSE:AMC) announced it would accept Dogecoin as payment. The future of Dogecoin may involve more retailers accepting it as payment, with McDonald's (NYSE:MCD) being a potential target for Dogecoin investors.

Portfolio Pulse from Chris Katje

December 05, 2023 | 6:23 pm

DEO

Diageo, the British multinational beverage alcohol company, is reportedly looking to sell its beer portfolio, including the Guinness brand. The move is part of a strategic shift to focus on its more profitable spirits and liquor business. The company has not yet confirmed the news, but if true, it could lead to significant changes in its business structure and revenue streams.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 6:17 pm

ALB

GME

GTLB

HOOD

TLT

US stocks showed weakness on Tuesday, with the S&P 500, Dow Industrials, and Russell 2000 indices closing lower, while the Nasdaq 100 remained flat. Moody's downgrade of China's credit outlook and mixed economic data influenced market sentiment. The dollar and U.S. Treasuries, particularly the iShares 20+ Year Treasury Bond ETF (TLT), gained. Gold and silver prices dropped. Bitcoin surged on rumors of a potential investment by Qatar's sovereign wealth fund. Technology and consumer discretionary sectors outperformed, while materials and energy sectors lagged. Gamestop (GME) and Albemarle Corp. (ALB) stocks fell, while GitLab (GTLB) and Robinhood (HOOD) rose.

Portfolio Pulse from Piero Cingari

December 05, 2023 | 6:15 pm

BABA

FXI

NIO

YUMC

Moody's Investors Service downgraded its outlook on China's government credit ratings from stable to negative, citing concerns over fiscal stability and economic growth. This has led to a significant sell-off in Chinese stocks, with the iShares China Large-Cap ETF (FXI) dropping over 10% in the last 10 sessions. Major Chinese companies listed in the US, including Alibaba (BABA), Tencent (OTCPK: MPNGY), and Meituan, saw negative trading, with Yum China (YUMC) and NIO Inc. (NIO) experiencing the most notable moves.

Portfolio Pulse from Piero Cingari

December 05, 2023 | 6:07 pm

DFS

Discover Financial's CFO John Greene has indicated that the company is actively working to address compliance issues. Additionally, he mentioned that a successful exit from the student loans business could potentially free up to $10 billion in risk-weighted assets.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 6:07 pm

HLT

Over the past 5 years, Hilton Worldwide Holdings (NYSE:HLT) has produced an average annual return of 18.12%, outperforming the market by 6.6% on an annualized basis. A $100 investment in HLT 5 years ago would be worth $229.39 today. Hilton has a market cap of $43.53 billion.

Portfolio Pulse from Benzinga Insights

December 05, 2023 | 6:00 pm

ETHUSD

On Monday, 10,117.98 Ether (ETH) valued at $23.1M was burned due to the EIP-1159 upgrade implemented on August 5, 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 -12.68% 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 05, 2023 | 6:00 pm

FLOT

The U.S. repo market is experiencing stress with surging short-term interest rates, reminiscent of the 2019 funding crisis. Repo rates have spiked, with overnight general collateral repo yields exceeding 5.5%. The iShares $ Floating Rate Bond UCITS ETF (FLOT) saw a slight increase in early trade on Tuesday. Analysts are drawing parallels to the 2019 crisis, but banks are considered better prepared now, having passed Fed stress tests with substantial reserves.

Portfolio Pulse from Neil Dennis

December 05, 2023 | 5:47 pm