Streetbeat News

Assets

IYR

OPEN

RKT

Investor Anthony Pompliano warns that housing affordability in the U.S. has become a national crisis, with Goldman Sachs' home affordability index at its lowest in 26 years. Mortgage rates have risen to 8%, the highest in 20 years, leading to higher monthly payments. The real estate and housing industry have been negatively impacted, with Zillow Group, Opendoor Technologies, and Rocket Companies seeing significant stock declines. The iShares US Real Estate ETF is also down 7% YTD.

Portfolio Pulse from Aaron Bry

October 11, 2023 | 7:30 pm

GFI

HMY

MUX

Shares of gold companies are trading higher as gold prices rise due to conflict in the Middle East, which is causing a flight to safe-haven assets.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 6:47 pm

SPY

U.S. President Biden is set to announce a $750 million investment in a regional hydrogen hub, Mach2, which includes parts of New Jersey, Delaware, and Pennsylvania. This move is part of the administration's efforts to boost clean energy and reduce carbon emissions.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 6:35 pm

PSHG

Sphinx Investment Corp has been revealed to hold an 8.8% stake in Performance Shipping according to a 13G filing.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 6:17 pm

A significant bullish stance has been taken on Micron Technology (NASDAQ:MU) as evidenced by unusual options activity. The sentiment among these big-money traders is split between 66% bullish and 33% bearish. The whales have been targeting a price range from $40.0 to $80.0 for Micron Technology over the last 3 months. Analysts from Wedbush, Baird, Citigroup, Goldman Sachs, and Rosenblatt have given their ratings and price targets for the company.

Portfolio Pulse from Benzinga Insights

October 11, 2023 | 6:15 pm

PEP

Unusual options activity has been observed for PepsiCo (NASDAQ:PEP), with a split sentiment of 50% bullish and 50% bearish among big-money traders. The targeted price range for PepsiCo over the last 3 months is from $150.0 to $170.0. The price of PEP is up 0.44% at $165.13. RBC Capital, Wedbush, Wells Fargo, and Barclays have provided their ratings and price targets for PepsiCo.

Portfolio Pulse from Benzinga Insights

October 11, 2023 | 6:15 pm

FTTUSD

FTX founder Sam Bankman-Fried contemplated shutting down Alameda Research amid allegations of misusing customer funds. Bankman-Fried stated that the negative publicity around Alameda's relationship with FTX was too burdensome. He also accused competitors of spreading false information to distract from their own issues. Alameda's reputation was damaged by speculations of engaging in trading not in the best interests of FTX's clients. Alameda's co-founder, Caroline Ellison, testified about deliberate balance sheet manipulations and misuse of FTX's customer accounts.

Portfolio Pulse from Murtuza Merchant

October 11, 2023 | 6:02 pm

ERIC

Ericsson has announced an impairment charge of SEK 32 billion and provided an update on its Q3 earnings, which it expects to be in line with guidance.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 6:00 pm

ETHUSD

On Tuesday, 1,626.65 Ether (ETH) worth $2,523,437 was burned from Ethereum transactions. This is a result of the Ethereum blockchain's EIP-1159 upgrade, which changes the fee model and burns a base fee from each transaction, permanently removing it from circulation. This is expected to make ETH a deflationary currency once the Ethereum 2.0 upgrade decreases the issuance rate of new Ether to around 0.5-1% per year.

Portfolio Pulse from Benzinga Insights

October 11, 2023 | 6:00 pm

CTRYF

EGRNF

EVGRF

FXI

NIO

SPY

XPEV

Rumors of a Chinese government stimulus have been boosting investor sentiment in Hong Kong, with expectations of an additional 1 trillion RMB ($137 billion) to support the local economy. This has led to a surge in Hong Kong and Chinese stocks. The iShares China Large Cap ETF (NYSE:FXI) is down 8.3% year-to-date, while the SPDR S&P 500 ETF (NYSE:SPY) has risen 14% during 2023. Stocks such as Country Garden Holdings Company Limited (OTC:CTRYF), China Evergrande Group (OTC:EGRNF), China Evergrande New Energy Vehicle Group Limited (OTC:EVGRF), XPeng Inc (NYSE:XPEV), and NIO Inc. (NYSE:NIO) have seen significant gains.

Portfolio Pulse from Daniel Harrison

October 11, 2023 | 5:47 pm