Streetbeat News

Assets

EWU

The U.K. Producer Price Index (PPI) Input for October showed an increase of 0.4%, which is higher than the estimated 0.2% and slightly lower than the prior revised figure of 0.6%.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 7:05 am

FXI

China's Industrial Production for October increased by 4.1% year-to-date compared to the previous 4%. This indicates a slight improvement in China's industrial output.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 5:53 am

FXI

China's Fixed Asset Investment (YoY) for October was reported at 2.9%, which is lower than the estimated 3.1% and equal to the prior figure of 3.1%.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 5:52 am

EWA

Australia's Wage Price Index for Q3 increased by 1.3%, matching the estimated figure and showing a rise from the previous quarter's revised 0.9%. The EWA ETF, which tracks the performance of the Australian equity market, may be indirectly affected by this economic indicator as wage growth can influence consumer spending and corporate profits.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 5:50 am

ETHUSD

OMGUSD

Vitalik Buterin's blog post endorsing Plasma technology, a layer of the OMG Network, has led to a 10% increase in the price of OMG (CRYPTO: OMG) to $0.70. Buterin highlighted Plasma's potential to reduce transaction fees and improve security. Despite the surge, OMG is still down from its all-time high of $25.4 in January 2018. The crypto community continues to seek solutions for Ethereum's scalability and security, with newer technologies like rollups gaining popularity. Ethereum (CRYPTO: ETH) is currently trading at $1,981.16, down 3.70%.

Portfolio Pulse from Mehab Qureshi

November 15, 2023 | 5:20 am

BTCUSD

ETHUSD

Over $303 million in leveraged long cryptocurrency positions were liquidated in 24 hours, with Bitcoin (BTC) and Ethereum (ETH) traders experiencing the most significant losses. The largest single liquidation order was a BTC-USDT-SWAP on OKX valued at $9.45M. The market downturn was unexpected by many, as 88,667 traders were affected. The liquidations were predominantly long positions, with OKX, Binance, Bybit, and Huobi being the major exchanges where these occurred. The market drop coincided with reactions to the October inflation reading, leading to a 4% drop in BTC and a 6% drop in ETH.

Portfolio Pulse from Mehab Qureshi

November 15, 2023 | 4:14 am

BTCUSD

DOGEUSD

ETHUSD

Despite positive U.S. inflation data suggesting a supportive environment for risk assets, cryptocurrencies including Bitcoin, Ethereum, and Dogecoin declined. The U.S. CPI data showed a year-over-year increase of 3.2%, with the core rate above 4%. The stock market surged with the Dow Jones, S&P 500, and Nasdaq posting significant gains. Analysts noted Bitcoin is seeking support and may strengthen, while over 15 Bitcoin whales have sold or redistributed holdings as prices rose. Ethereum's fees have increased with its price surge but remain lower than May's average levels.

Portfolio Pulse from Mehab Qureshi

November 15, 2023 | 3:09 am

QQQ

Soros Fund Management, led by George Soros, disclosed a $500M stake in Invesco QQQ Trust Series 1 (NASDAQ:QQQ) as part of its 13F filing for Q3 2023. The firm reported $7.04 billion in managed 13F securities, with new purchases in 96 stocks and additional purchases in 45 stocks.

Portfolio Pulse from Ryan Gustafson

November 14, 2023 | 11:40 pm

BTCUSD

ETHUSD

VanEck's Portfolio Manager Pranav Kanade discussed the investment prospects of Bitcoin and Ethereum at the Benzinga Future of Digital Assets event. He highlighted Bitcoin's potential for asymmetric returns but cautioned about its volatility. Kanade is optimistic about Bitcoin adoption due to easier access and the upcoming Bitcoin halving in April 2024. VanEck, a family-owned firm managing $80 billion, approaches crypto investments by assessing the sustainability of crypto ventures and their return mechanisms. Ethereum is valued based on the fees generated by applications on its platform, benefiting ETH token holders and stakers.

Portfolio Pulse from Khyathi Dalal

November 14, 2023 | 10:56 pm

AMD

AVGO

BKNG

INTC

NVDA

QQQ

SOXX

TXN

Michael Burry, known for his 'Big Short' fame, has placed a $47 million short bet against the semiconductor sector by purchasing put options on the iShares Semiconductor ETF (SOXX). This move comes after closing significant short positions on the S&P 500 and Nasdaq. SOXX includes major chipmakers like Nvidia (NVDA), AMD (AMD), Broadcom (AVGO), Intel (INTC), and Texas Instruments (TXN). The sector has grown 47% YTD, outperforming the broader tech market's QQQ, which is up 45%. Additionally, Burry has shorted Booking Holdings Inc. (BKNG) with 2,500 put options.

Portfolio Pulse from Piero Cingari

November 14, 2023 | 10:35 pm