Streetbeat News

Assets

SPY

UNG

USA gasoline inventories experienced a significant draw of 3.310 million barrels, surpassing the estimated draw of 1.350 million barrels. This indicates a higher than expected decrease in gasoline stocks.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 2:30 pm

SPY

UNG

USO

The Energy Information Administration (EIA) reported a weekly distillates stocks build of 0.624 million barrels, contrasting with the estimated draw of 0.087 million barrels and the previous week's build of 0.888 million barrels.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 2:30 pm

USO

US crude oil inventories experienced a larger-than-expected drawdown of 1.952 million barrels, compared to the estimated 900,000 barrels. This indicates a higher demand or lower supply than anticipated.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 2:30 pm

SP Plus (NYSE:SP) has seen a 12.5% decrease in short interest, now at 1.09 million shares or 5.6% of float, taking 6.2 days on average to cover. This decline in short interest may indicate a more bullish sentiment towards SP Plus compared to its peers, where the average short interest is 3.08% of float.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 2:15 pm

TSM

Over the past decade, Taiwan Semiconductor (NYSE:TSM) has significantly outperformed the market, yielding an average annual return of 21.69%. A $1000 investment in TSM 10 years ago would now be worth $7,300. The company's current market capitalization stands at $709.53 billion.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 2:01 pm

MSFT

Over the past decade, Microsoft (NASDAQ:MSFT) has significantly outperformed the market, yielding an average annual return of 26.44%. A $1000 investment in MSFT 10 years ago would now be worth $10,403.21. Microsoft's market capitalization stands at $3.13 trillion.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 2:01 pm

INTC

Intel Corp (NASDAQ:INTC) shares rose after signing a preliminary memorandum for up to $8.5 billion in funding under the CHIPS and Science Act for semiconductor projects. The deal includes options for federal loans up to $11 billion and potential tax credits for investments over $100 billion. This funding aims to bolster U.S. semiconductor innovation and supply chain resilience, with Intel planning significant job creation and multiple projects across states.

Portfolio Pulse from Adam Eckert

March 20, 2024 | 1:19 pm

DHE

ITB

LEN

February saw a rebound in housing starts, with a 10.7% increase to an annualized rate of 1.521 million, surpassing forecasts. Building permits also rose by 1.9%. Despite high interest rates affecting affordability, the housing market shows resilience with stable demand and a shortage of existing homes for sale. The iShares U.S. Home Construction ETF (ITB) has gained 78% since the beginning of 2023 but dipped 1.6% since March. D.R. Horton Inc (DHE) remains flat year-to-date, while Lennar Corporation (LEN) is up 5% despite recent drops.

Portfolio Pulse from Neil Dennis

March 20, 2024 | 12:56 pm

PIXY

ShiftPixy, Inc. has committed to financing terms for $100 million to initiate a human capital rollup strategy. This move is aimed at consolidating its position in the human capital management sector by potentially acquiring smaller companies or assets that complement its existing services.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 12:40 pm

BTCUSD

CMG

ETHUSD

NVDA

TSLA

Cryptocurrencies Bitcoin, Ethereum, and Dogecoin experienced significant losses with $650M liquidated in a day, while a rally is predicted due to FOMO. US stocks face risks from de-dollarization, with Morgan Stanley expressing concern. Political developments include Trump vs. Biden dynamics heating up for 2024, with both securing key primary wins. In tech, Nvidia and Synopsys highlight their partnership's importance in chip design, and Tesla faces trade secret theft allegations. Consumer news includes Chipotle's stock split and Samsung's surge due to Nvidia's interest. Financially, BlackRock files for a tokenized asset fund, and Borse Dubai plans to sell its Nasdaq stake.

Portfolio Pulse from Akanksha Bakshi

March 20, 2024 | 12:18 pm