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BLK

U.S. Presidential candidate Vivek Ramaswamy criticized BlackRock's Bitcoin ETF application, calling the investment firm 'a tentacle of the government.' He expressed support for cryptocurrencies and plans to be a pro-crypto president. Ramaswamy sees Bitcoin as an alternative to the Federal Reserve system and views the government as threatened by its popularity. He also criticized regulatory bodies like the SEC, calling them a 'cancer' and 'unconstitutional.' BTC price was up 5.33% at the time of reporting.

Portfolio Pulse from Mehab Qureshi

November 16, 2023 | 6:27 am

EWA

Australia's employment change for October was reported at 55.0K, significantly surpassing the estimated 20.0K and the previous 7.8K (revised).

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 6:24 am

BBJP

DXJ

EWJ

Japan's adjusted trade balance came in at -0.46 trillion, better than the estimated -0.71 trillion but slightly worse than the previous -0.42 trillion (revised).

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 6:23 am

ETHDYDX

The dYdX token (CRYPTO: ETHDYDX) has surged over 20% in anticipation of a token unlock for early investors and team members. The dYdX platform, initially a DEX, launched its own blockchain, leading to a price increase. The upcoming unlock will increase the circulating supply significantly, which could impact the market.

Portfolio Pulse from Mehab Qureshi

November 16, 2023 | 4:29 am

AVAXUSD

ETHUSD

SOLUSD

Ether (ETH) has surged over 3% in the last 24 hours, now trading above $2,000. Ethereum's competitors, Solana (SOL) and Avalanche (AVAX), have seen significant gains in 2023, with SOL up 566% and AVAX up 87% year to date. SOL's price recovery follows a period of instability linked to Sam Bankman-Fried's legal issues, while AVAX's rise is attributed to interest from JPMorgan and Apollo in using blockchain for tokenizing funds.

Portfolio Pulse from Mehab Qureshi

November 16, 2023 | 3:31 am

GBTC

Cathie Wood, CEO of ARK Invest, predicts that the approval of a U.S. Bitcoin ETF could challenge the Grayscale Bitcoin Trust's (GBTC) market position. ARK Invest, in partnership with 21 Shares, is awaiting SEC approval to launch a Bitcoin ETF. Wood believes this could introduce more liquid investment options and attract new investors, but also warns of potential profit-taking post-launch. ARK Invest has recently sold $6 million worth of GBTC shares, which Wood attributes to routine profit-taking.

Portfolio Pulse from Benzinga Neuro

November 16, 2023 | 3:17 am

BTCUSD

DOGEUSD

ETHUSD

The cryptocurrency market saw a strong rebound with Bitcoin nearing an 18-month high, surpassing $37,000, after a brief drop below $35,000. Ethereum and Dogecoin also posted gains. Over $110 million in short liquidations occurred as a result, with $51 million in BTC shorts and $16 million in ETH shorts liquidated. The S&P 500, Nasdaq, and Dow Jones also rose, while the 10-year U.S. Treasury yield increased. Analysts suggest BTC and ETH could become part of 401k retirement plans, indicating a bullish long-term outlook despite short-term volatility.

Portfolio Pulse from Mehab Qureshi

November 16, 2023 | 2:50 am

QDEL

Bloomberg reported that QuidelOrtho is considering the sale of its transfusion medicine unit. The company is exploring options that could include a sale or spinoff of the business. The transfusion medicine unit is part of QuidelOrtho's broader diagnostics business, and the potential sale is part of a strategic review to streamline operations and focus on core areas.

Portfolio Pulse from Charles Gross

November 15, 2023 | 10:43 pm

COST

CVS

JNJ

MCD

PDD

PEP

SBUX

WMT

Bridgewater Associates, founded by Ray Dalio, has a portfolio heavily weighted towards consumer stocks, with significant stakes in Coca-Cola, Costco, and Walmart among others. The hedge fund's latest 13F filing for Q3 2023 shows a 40.63% investment in consumer discretionary and staples stocks. Bridgewater has increased its holdings in companies like Procter & Gamble, Coca-Cola, Costco, PepsiCo, Walmart, McDonald's, and CVS Health, while reducing positions in PDD Holdings, Starbucks, and Johnson & Johnson. This strategy aligns with the recent dip in U.S. inflation, suggesting a potential shift in the economic environment.

Portfolio Pulse from Surbhi Jain

November 15, 2023 | 9:32 pm