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IWM

QQQ

SPY

SQQQ

Short selling in ETFs has been largely unprofitable over the last month, with 92% of all ETF shorts losing money. The SPDR S&P 500 ETF (SPY) was the most heavily shorted and least profitable, with short sellers losing $5.5 billion as the ETF rose 11.2%. The Invesco QQQ Trust ETF (QQQ) and iShares Russell 2000 ETF (IWM) also saw significant losses for short sellers. Conversely, the Proshares Ultrapro Short QQQ ETF (SQQQ) was profitable for shorts, as were ETFs tracking the VIX index.

Portfolio Pulse from Neil Dennis

November 30, 2023 | 2:48 pm

USO

Saudi Arabia and Russia have announced significant oil production cuts, with Saudi Arabia reducing output by 1 million barrels per day and Russia by 500,000 barrels per day. Other countries are also expected to cut production further, which could lead to a tightening of global oil supplies.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 2:46 pm

SPY

Federal Reserve Bank of New York President John Williams commented on the high sensitivity of bond yields to new economic data, suggesting that investors are closely watching for signs that could indicate the future direction of interest rates and monetary policy. This observation reflects the market's attentiveness to the Fed's actions and economic indicators, which can influence investment decisions and asset prices, particularly in the fixed income market.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 2:35 pm

BTCUSD

ETHUSD

Bitcoin and Ethereum experienced losses, with Bitcoin falling below the $38,000 threshold and Ethereum staying above $2,000. The U.S. personal consumption expenditure price index was flat month-over-month in October, with annual core PCE inflation easing to 3.5%. The global crypto market cap declined by 0.7% over 24 hours. IOTA was the top gainer, while Sei was the biggest loser among cryptocurrencies.

Portfolio Pulse from Lisa Levin

November 30, 2023 | 2:33 pm

SPY

Federal Reserve's John Williams emphasized that future rate decisions will be based on the 'totality' of economic data. He noted that financial conditions have tightened over the year and is monitoring the impact of these tighter conditions on the economy.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 2:33 pm

USO

OPEC+ has reportedly reached a consensus on reducing oil output, according to Reuters citing two sources. This decision could potentially affect global oil supply and prices.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 2:30 pm

PAYX

Over the past 10 years, Paychex (NASDAQ:PAYX) has delivered an average annual return of 10.79%, outperforming the market. A $100 investment in PAYX a decade ago would be worth $277.04 today. Paychex currently has a market cap of $43.76 billion.

Portfolio Pulse from Benzinga Insights

November 30, 2023 | 2:00 pm

AAOI

Applied Optoelectronics, Inc. (AAOI) plans to offer $80 million in Convertible Senior Notes due 2026, exempt from the Securities Act registration. The Notes will be senior, unsecured, and potentially guaranteed by future subsidiaries. Proceeds will fund repurchases or exchanges of existing 5.00% Convertible Senior Notes due 2024. Market activities related to the 2024 notes may affect the stock and initial conversion price of the new Notes. The offering is for qualified institutional buyers under Rule 144A, and there's no assurance it will be completed.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 1:55 pm

NETI

Eneti Inc. announced the closing of a $436.0 million credit facility and the sale of two NG2500X vessels. The financial move could strengthen the company's balance sheet and liquidity, potentially impacting its stock positively in the short term.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 12:32 pm

BLK

GBTC

The race for SEC approval of spot Bitcoin ETFs has intensified with Pando Asset AG joining as the 13th contender. Grayscale Bitcoin Trust (GBTC) and BlackRock Inc. (BLK) have updated their filings, with analysts anticipating imminent SEC approvals. Both GBTC and BLK stocks have rallied, with GBTC showing a 242.74% increase and BLK a 7.4% rise over the past year. Despite this, the two stocks exhibit a very weak correlation in market movements.

Portfolio Pulse from Mehab Qureshi

November 30, 2023 | 12:22 pm