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The escalating Israel-Hamas conflict, rising inflation, and surging oil prices have shaken global markets. The conflict could disrupt global oil supplies, as the Middle East accounts for about one-third of global oil production. In the US, inflation figures exceeded expectations, with the Producer Price Index surging 2.2% YoY and the Consumer Price Index inflation rising by 3.7% YoY. This has led to a spike in 30-year mortgage rates and a dip in consumer sentiment. Despite this, the Fed signals another rate hike is still possible. M&A activity picked up with Exxon Mobil acquiring Pioneer Resources and Microsoft purchasing Activision Blizzard. The week also saw strong Q3 earnings from major banks.

Portfolio Pulse from Piero Cingari

October 13, 2023 | 8:33 pm

BHP

A significant bearish stance has been taken on BHP Group (NYSE:BHP) as indicated by unusual options activity. The overall sentiment of these big-money traders is split between 18% bullish and 81% bearish. Out of the special options uncovered, 9 are puts, for a total amount of $337,294, and 2 are calls, for a total amount of $141,020. The whales have been targeting a price range from $55.0 to $55.0 for BHP Group over the last 3 months.

Portfolio Pulse from Benzinga Insights

October 13, 2023 | 8:31 pm

SNPS

Over the past 10 years, Synopsys (NASDAQ:SNPS) has outperformed the market by 19.58% on an annualized basis, producing an average annual return of 29.13%. If an investor had bought $1000 of SNPS stock 10 years ago, it would be worth $12,943.96 today.

Portfolio Pulse from Benzinga Insights

October 13, 2023 | 8:30 pm

ADM

Archer-Daniels Midland (NYSE:ADM) has outperformed the market over the past 20 years by 1.4% on an annualized basis, producing an average annual return of 8.73%. If an investor had bought $100 of ADM stock 20 years ago, it would be worth $531.30 today.

Portfolio Pulse from Benzinga Insights

October 13, 2023 | 8:30 pm

BLK

BTCUSD

JPM

A prominent crypto analyst from the YouTube channel InvestAnswers has suggested that Bitcoin (CRYPTO: BTC) could surpass the market caps of both gold and silver. The analyst highlighted the trustworthiness and verifiability of Bitcoin compared to gold. He also dismissed concerns about potential market manipulation by industry giants like JPMorgan Chase & Co. (NYSE:JPM) and BlackRock Inc. (NYSE:BLK).

Portfolio Pulse from Murtuza Merchant

October 13, 2023 | 8:22 pm

USO

The Ecuadorian government has appointed Reinaldo Armijos as the new manager for state oil firm PetroEcuador. This announcement comes just days ahead of the country's presidential election.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 8:21 pm

SVVC

Firsthand Technology Value Fund, Inc. (NASDAQ:SVVC) has announced plans to seek stockholder approval to withdraw its BDC election and pursue liquidation. The company has suffered material setbacks on two of its largest holdings, which could reduce the asset value of the Fund to a level below its accrued liabilities. The Board and Firsthand Capital Management have agreed to take actions to maintain a positive net asset value per share.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 8:16 pm

CSCO

A significant bearish stance has been taken on Cisco Systems (NASDAQ:CSCO) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split between 46% bullish and 53% bearish. The whales have been targeting a price range from $47.5 to $65.0 for Cisco Systems over the last 3 months. Tigress Financial has maintained their Buy rating on Cisco Systems, with a price target of $76.

Portfolio Pulse from Benzinga Insights

October 13, 2023 | 8:16 pm

VWE

Vintage Wine Estates, Inc. (NASDAQ:VWE) has amended its credit agreement, waiving existing defaults, redefining financial covenants, and allowing for additional asset sales. The company had approximately $305 million in outstanding borrowings and total liquidity of approximately $73 million. The amended agreement reduces the aggregate revolving commitment and the aggregate delayed draw term loan commitment to $200 million and $38.1 million respectively, and requires term loan prepayments of $45 million by December 31, 2024.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 8:15 pm

GLD

QQQ

SPY

TLT

US Treasury Secretary Janet Yellen warned of escalating tensions in the Israel-Hamas conflict, emphasizing the need to prevent a broader conflict. The warning came amid the annual meetings of the International Monetary Fund and World Bank. The conflict has overshadowed other issues such as debt relief and climate change financing. The escalating conflict has impacted global markets, with the CBOE Volatility Index spiking over 18%. Gold, tracked by the SPDR Gold Trust, rallied by 3%, and oil prices surged by 4.6%. Bonds, tracked by the iShares 20+ Year Treasury Bond ETF, rose 1.6%, while the SPDR S&P 500 ETF Trust and the Invesco QQQ Trust experienced losses.

Portfolio Pulse from Piero Cingari

October 13, 2023 | 8:02 pm