Streetbeat News

Assets

GLD

SPY

USO

On November 3rd, U.S. stock markets closed higher due to falling bond yields, slowing job growth, and rising unemployment. The S&P 500, Dow Jones, and Nasdaq all saw gains, with real estate leading the sectors. Asian markets also saw gains, while European markets slid. Crude oil traded higher, while natural gas declined. Gold traded lower, while silver and copper rose. U.S. futures were up, and the U.S. Dollar Index was down.

Portfolio Pulse from Akanksha Bakshi

November 06, 2023 | 11:53 am

ALPN

Alpine Immune Sciences has reported preliminary financial results as of September 30, 2023, indicating approximately $227.2M in cash, cash equivalents, restricted cash, and investments.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 11:09 am

FENC

Fennec Pharmaceuticals has announced that its cash and cash equivalents of $12.4 million will be sufficient to fund its planned operations for at least the next twelve months.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 11:06 am

BTCUSD

Bitcoin (CRYPTO: BTC) could be on the verge of a significant upswing, according to data analytics company Glassnode. The company's co-founders have identified a bullish indicator for Bitcoin, pointing out that the digital currency has navigated critical resistance levels and is demonstrating increased momentum. They centered their analysis on Bitcoin’s Relative Strength Index (RSI), which is currently above 70, suggesting a potential rally. They predict Bitcoin could reach the $32,700 mark before soaring further.

Portfolio Pulse from Mehab Qureshi

November 06, 2023 | 11:03 am

DISH

LILA

Liberty Latin America (LILA) has announced plans to acquire DISH Network's spectrum assets in Puerto Rico and the United States Virgin Islands. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 11:03 am

AMD

INTC

NVDA

The CEOs of Nvidia Corporation (NASDAQ:NVDA) and Advanced Micro Devices, Inc. (NASDAQ:AMD), both leaders in the global AI chip industry, are related as first cousins once removed. Both companies are key players in the semiconductor industry and are advancing in generative AI technology. However, they face potential challenges due to geopolitical tensions, with U.S. export controls affecting Nvidia's AI chips directed to China and AMD committing to U.S. restrictions while creating products for China.

Portfolio Pulse from Rounak Jain

November 06, 2023 | 10:50 am

FLOKIUSD

Over $54.4 million worth of FLOKI tokens have been staked in the first week of the program's launch, representing about 17% of the total FLOKI token supply. Most of these tokens are being staked for up to 4 years. Stakers have the opportunity to earn TOKEN rewards over the course of four years, with an annual percentage yield (APY) of up to 160%. FLOKI's price was up 1.99% in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

November 06, 2023 | 10:22 am

BLK

BTCUSD

ETHUSD

Hong Kong is considering the approval of exchange-traded funds (ETFs) that directly invest in cryptocurrencies as part of its push to establish an Asia-Pacific digital asset hub. The Securities and Futures Commission (SFC) is open to proposals using innovative technology that enhances efficiency and customer experience. The cryptocurrency sector views ETFs as a means to mainstream digital assets. Bitcoin has seen a 110% surge this year, partially due to expectations that companies like BlackRock Inc. will soon receive permission to launch the first U.S. spot ETFs for the token.

Portfolio Pulse from Benzinga Neuro

November 06, 2023 | 8:59 am

GLD

Cathie Wood of Ark Investment Management has expressed concerns about bond yields and the current monetary policy. She believes the economy is in a 'rolling recession' and expects long-term interest rates to drop below 2%. Wood also noted that the U.S. federal deficit is at about 6% of nominal GDP and suggested that rapid growth, similar to the 80s and 90s, could help contain the deficit. The SPDR Gold Shares (NYSE:GLD) ended Friday’s session up 0.36% at $184.79.

Portfolio Pulse from Shanthi Rexaline

November 06, 2023 | 7:46 am

D

GM

TM

Despite the Inflation Reduction Act (IRA) signed by President Biden, which planned to inject $370bn for decarbonization, several clean energy projects in the U.S. are being postponed or scrapped. Companies like Ørsted and General Motors Co. have suspended or abandoned their projects due to high-interest rates, supply chain issues, and regulatory complexities. However, some projects like Dominion Energy Inc.’s offshore wind farm and Toyota Motor Corp.’s investment in a battery plant are progressing.

Portfolio Pulse from Benzinga Neuro

November 06, 2023 | 7:37 am