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Assets

BLK

BlackRock Inc. (NYSE:BLK) has come under scrutiny following controversial statements made by its technology recruiter, Serge Varlay. Varlay claimed that financial institutions, including BlackRock, exert significant influence over politics through campaign financing. He also suggested that ongoing conflicts, such as the Russia-Ukraine war, are beneficial for business due to the resulting market volatility. Following the release of the video in which these statements were made, Varlay deactivated his LinkedIn profile.

Portfolio Pulse from Caleb Naysmith

July 13, 2023 | 11:04 am

ATVI

HMC

HTHIY

MIELY

MSFT

SONY

Sony Group Corp is increasing its R&D spending in its game business, with a focus on live service games and the metaverse. The company plans to invest $2.13 billion into R&D for its game segment for FY24. Sony is shifting from a hardware focus to a subscription-based business model and expects the market for add-on style games to surpass the market for hardware like the PlayStation for the first time in 2026. Sony also plans to use the technology it develops in its game business in other fields, such as in-vehicle content for the electric car it is developing with Honda Motor Company.

Portfolio Pulse from Anusuya Lahiri

July 13, 2023 | 10:54 am

EEMA

EWU

EZU

FLAX

SPY

On July 12, Wall Street closed higher after reporting a lower than expected annual CPI inflation rate of 3% in June. The Dow Jones, S&P 500, and Nasdaq Composite all closed higher. Asian markets also closed higher, with gains in various sectors. European markets were trading higher, with the U.K.'s FTSE 100 gaining despite a contraction in GDP. Commodities were trading higher, and U.S. futures were in the green. The U.S. Dollar Index was down after data showed inflation eased better than expected.

Portfolio Pulse from Akanksha Bakshi

July 13, 2023 | 9:55 am

CG

MCD

Carlyle Group and Trustar Capital are planning to raise $4B from wealth funds to buy part of their stakes in McDonald's operations in Hong Kong and Mainland China, according to Bloomberg.

Portfolio Pulse from Charles Gross

July 13, 2023 | 8:49 am

ETHUSD

SHIBUSD

A large holder of Shiba Inu (CRYPTO: SHIB) tokens transferred 4 trillion SHIB, valued at $29.8 million, to eight new addresses. This is the first significant move by the whale in over 600 days. The whale also made a purchase using 38 Ethereum (CRYPTO: ETH) worth around $14,000 and sold around 603 billion SHIB for approximately 2,411 ETH, valuing the transaction at $9.6 million. The whale still retains 101.47 trillion SHIB, valued at $756 million, distributed across 23 different wallets. The burn rate of SHIB tokens has dropped over 100% in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

July 13, 2023 | 7:12 am

EWQ

France's Consumer Price Index (CPI) for June came in as expected at 0.2%, compared to -0.1% in the previous month. The Harmonised Index of Consumer Prices for June was also 0.2%, matching estimates and improving from -0.1% in the prior month.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 6:50 am

EWU

The United Kingdom's trade deficit for May was reported at -18.72B, significantly worse than the estimated -14.70B and the prior figure of -14.64B. The trade balance with non-EU countries also deteriorated to -6.76B from the estimated -6.45B and the prior -4.64B.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 6:45 am

EWU

UK's industrial production for May fell by 0.6%, more than the estimated 0.4% and previous 0.2%. Manufacturing production also declined by 0.2%, less than the estimated 0.5% but more than the previous 0.1%.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 6:39 am

EWU

UK's Gross Domestic Product (GDP) MoM has been reported at -0.1%, better than the estimated -0.3% but lower than the prior 0.2%. The 3M/3M change in GDP is 0.0%, also better than the estimated -0.1% and lower than the prior 0.1%.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 6:36 am

FXI

China's year-on-year exports for June fell by 12.4%, more than the estimated 9.5% and the previous 7.5%. Similarly, imports for the same period also declined by 6.8%, compared to the estimated 4% and the previous 4.5%.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 6:11 am