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ETHUSD

On Tuesday, 1,927.03 Ether (ETH) worth $3,023,046 was burned from Ethereum transactions. This is a result of the Ethereum blockchain's EIP-1159 upgrade implemented on August 5th, 2021, which changed the fee model and burns a base fee from each transaction. Ethereum is currently issuing new Ether at a rate of 4% per year, expected to decrease to around 0.5-1% with the Ethereum 2.0 upgrade. The net annualized issuance rate for Ether yesterday was 0.78%.

Portfolio Pulse from Benzinga Insights

October 18, 2023 | 6:00 pm

AAPL

AMZN

DIS

WBD

The NBA is negotiating media-rights deals to fund its players' salaries. Current partners Disney (NYSE:DIS) and Warner Bros. Discovery (NASDAQ:WBD) are hesitant about spending hikes due to financial pressures. This opens the door for Amazon (NASDAQ:AMZN) and Apple (NASDAQ:AAPL) to acquire a substantial portion of NBA games. The NBA might also reclaim media rights in 15 markets due to Diamond Sports' potential bankruptcy.

Portfolio Pulse from Anusuya Lahiri

October 18, 2023 | 5:36 pm

FAST

Fastenal (NASDAQ:FAST) has outperformed the market over the past 5 years, producing an average annual return of 18.84%. An investment of $1000 in FAST 5 years ago would be worth $2,317.04 today. The company currently has a market capitalization of $34.13 billion.

Portfolio Pulse from Benzinga Insights

October 18, 2023 | 5:30 pm

CTSH

Cognizant Tech Solns (NASDAQ:CTSH) has outperformed the market over the past 20 years, producing an average annual return of 13.58%. If an investor had bought $1000 of CTSH stock 20 years ago, it would be worth $12,856.04 today.

Portfolio Pulse from Benzinga Insights

October 18, 2023 | 5:30 pm

BTCUSD

FNF

Fidelity Investments has submitted a new application for its Bitcoin Spot ETF “Wise Origin Bitcoin Trust” to the SEC, addressing previous concerns that led to the rejection of the initial application. The updated proposal includes provisions for investors to easily buy and sell shares of a fund that will replicate the Bitcoin price. The SEC has not yet approved any Bitcoin ETF due to concerns around market manipulation, fraud, custody, and investor protection. Other companies that have applied for Spot Bitcoin ETFs include Grayscale, Invesco, BlackRock, and Ark Invest.

Portfolio Pulse from Khyathi Dalal

October 18, 2023 | 5:22 pm

DHI

SPY

The 30-year fixed mortgage rate has hit 8% for the first time since 2000, due to soaring U.S. Treasury yields. This has led to a significant drop in mortgage applications. Homebuilders are using buydowns to help customers afford homes, a strategy not widely used in the past. The rate was as low as 3% two years ago, meaning a buyer purchasing a $400,000 home with a 20% down payment would now have a monthly payment nearly $1,000 higher than two years ago.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 5:21 pm

VEXTF

Vext Science, Inc. (OTCQX:VEXTF) has agreed to sell its cannabis cultivation facility in Arizona to Elevate Cannabis Co. for $6.5 million. The proceeds will be used to repay part of Vext's outstanding credit facilities and for future acquisitions. The company also plans to acquire two cannabis dispensaries in Ohio for $9.4 million, pending regulatory review. To support its expansion, Vext Science raised $10 million through a private placement of common shares earlier this month.

Portfolio Pulse from Jelena Martinovic

October 18, 2023 | 5:13 pm

VFS

VinFast shares are experiencing a downturn due to continued weakness. The company has announced plans to seek capital for its expansion into Southeast Asia.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 5:12 pm

AAPL

AMZN

ASML

BTCUSD

GLD

GOOG

META

MSFT

NEM

NVDA

QQQ

SLV

SPY

TSLA

USO

The article discusses the current geopolitical tensions and their impact on the financial markets. It highlights the rising oil prices due to the conflict in Gaza and potential political instability. Money is moving into safe havens like gold and Treasury bonds. The article also mentions the impact of US sanctions on the export of AI technology and chips to China, with ASML Holding NV warning of a flat 2024 due to these sanctions. The Chinese economy is performing better than expected, while the Bank of Japan's policy shift could impact US stock and bond markets. The article also mentions negative money flows in several tech companies and ETFs.

Portfolio Pulse from The Arora Report

October 18, 2023 | 5:09 pm

TSM

Taiwan Semiconductor (NYSE:TSM) has outperformed the market over the past 5 years, producing an average annual return of 18.64%. If an investor had bought $100 of TSM stock 5 years ago, it would be worth $230.71 today.

Portfolio Pulse from Benzinga Insights

October 18, 2023 | 5:00 pm