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Federal Reserve's Collins has stated that the current phase of monetary policy requires patience. The recent Consumer Price Index (CPI) data suggests that it will take time to bring inflation back down. Collins also mentioned that it is too early to say if inflation is on a sustainable path to the 2% target.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 8:04 pm

ETAO

ETAO International Co. Ltd. has announced its plan to terminate contractual arrangements with seven of its twelve consolidated affiliates subsidiaries. The move is part of a reorganization plan aimed at trimming operations and improving profitability. The seven disposed VIEs had an aggregate net loss of $7.5 million for the fiscal year ended December 31, 2022. The company expects the disposition to decrease expenses and increase revenue in the long run.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 7:59 pm

BALL

CCK

FCX

HLP

LZM

NUE

SCCO

STLD

TECK

Industrial metal stocks are trading lower due to overall market weakness and a rise in Treasury yields following CPI data. This could potentially lead to increased demand uncertainty.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 7:56 pm

Cigna Group's (NYSE:CI) short percent of float has risen 19.57% since its last report, with 3.24 million shares sold short, which is 1.1% of all regular shares available for trading. It would take traders 2.87 days to cover their short positions on average. The company's short interest is less than most of its peers, with an average of 7.87%.

Portfolio Pulse from Benzinga Insights

October 12, 2023 | 7:45 pm

EEM

EIS

IZRL

QAT

QQQ

SPY

US Secretary of State Antony Blinken visited Israel to reaffirm US support amid Hamas attacks. The US Department of Defense has increased support by ordering additional advanced fighter jets to be deployed in the region. The US government will commence charter flights for US citizens looking to leave Israel. The markets experienced a sudden downturn due to escalating geopolitical tensions and a higher-than-expected increase in inflation in September. The S&P 500 index, as monitored through the SPDR S&P 500 ETF Trust (NYSE:SPY), experienced a significant 0.9% decline. The Invesco QQQ Trust (NASDAQ:QQQ) was down by 0.8%. The iShares MSCI Israel ETF (NYSE:EIS) saw a substantial drop of 1.8%. The ARK Israel Innovative Technology ETF (NYSE:IZRL) plummeted by 2.3%. The iShares MSCI Qatar ETF (NYSE:QAT) declined by 2.3%. The iShares MSCI Emerging Index Fund (NYSE:EEM) registered a 1.2% decrease.

Portfolio Pulse from Piero Cingari

October 12, 2023 | 7:38 pm

GNS

Genius Group Limited (NYSE:GNS) has entered into a loan agreement with its CEO, Roger James Hamilton, who will provide the company with up to $4 million as an interest-free loan. This loan will be converted into equity in Genius Group as ordinary shares at the next Qualified Financing Round. The move is aimed at ensuring the company's growth without liquidity constraints.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 7:34 pm

MDT

A significant amount of unusual options activity has been detected for Medtronic (NYSE:MDT), with a mix of bullish and bearish stances. Of the 11 strange trades detected, 54% were opened with bullish expectations and 45% with bearish. The total amount for the 7 puts was $299,903 and for the 4 calls was $128,239. Whales have been targeting a price range from $67.5 to $97.5 for Medtronic over the last 3 months. The current price of MDT is down -2.57% at $71.02.

Portfolio Pulse from Benzinga Insights

October 12, 2023 | 7:02 pm

FDX

A significant bearish stance has been taken on FedEx (NYSE:FDX) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is 90% bearish and 10% bullish. The whales have been targeting a price range from $210.0 to $282.5 for FedEx over the last 3 months. Analysts from Morgan Stanley, Loop Capital, Susquehanna, Citigroup, and BMO Capital have maintained their ratings on FedEx with price targets ranging from $205 to $315.

Portfolio Pulse from Benzinga Insights

October 12, 2023 | 7:02 pm

OPUSD

Cryptocurrency Optimism's (CRYPTO: OP) price has fallen 5.22% to $1.18 in the past 24 hours, continuing its negative trend over the past week with a 9.0% loss. The trading volume for the coin has decreased 2.0% over the past week, while the overall circulating supply of the coin has decreased 0.49% to over 880.44 million. The current market cap ranking for OP is #41 at $1.04 billion.

Portfolio Pulse from Benzinga Insights

October 12, 2023 | 7:00 pm

ATOMUSD

Cosmos Hub's (CRYPTO: ATOM) price has fallen 3.02% to $6.54 in the past 24 hours, continuing its negative trend over the past week with a 4.0% loss. The trading volume for the coin has climbed 104.0% over the past week, while the overall circulating supply of the coin has decreased 0.39% to 292.59 million. The current market cap ranking for ATOM is #30 at $1.89 billion.

Portfolio Pulse from Benzinga Insights

October 12, 2023 | 7:00 pm