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BMWYY

BYDDY

GELYF

LVMHA

PPRUY

VWAGY

The European Union is considering final tariffs on Chinese electric vehicle (EV) makers to protect its own automobile industry. However, this move could lead to a trade war with China, affecting EU's export-dependent companies and critical raw material supplies. Automakers like BMW and Volkswagen have warned against these tariffs, fearing retaliatory measures from China. The EU remains dependent on China for essential raw materials, complicating the situation.

Portfolio Pulse from European Capital Insights

October 02, 2024 | 2:56 pm

SPY

USO

Russia's Novak expresses optimism about a significant increase in global oil demand for the year. Despite the Middle East conflict, which has already been factored into oil prices, there is a potential decrease in oil supplies due to the conflict.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 2:42 pm

AAPL

IXN

VGT

Apple plans to launch a budget iPhone by 2025 to regain market share lost to Huawei and Xiaomi. The new iPhone SE will feature an edge-to-edge screen and support Apple Intelligence. Analysts highlight the importance of iPhone sales to Apple's revenue. Apple is also planning updates for iPads and Macs. Despite a potential cut in iPhone production, Apple stock has risen over 30% in the past year.

Portfolio Pulse from Anusuya Lahiri

October 02, 2024 | 2:40 pm

IREN

NVDA

Iris Energy Ltd (NASDAQ:IREN) is seen as an attractive investment due to its large untapped power portfolios for Bitcoin mining and a profitable AI Cloud business. Analyst Darren Aftahi from Roth Capital Partners initiated coverage with a Buy rating and a $14 price target. The company recently purchased Nvidia's H200 GPUs for $43.9 million to expand its operations.

Portfolio Pulse from Priya Nigam

October 02, 2024 | 2:39 pm

SPY

USO

VGK

Russia's Novak announced that OPEC+ will begin increasing oil production from December 1, as previously decided. Future decisions will be based on the market situation.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 2:37 pm

LLY

NVO

Eli Lilly is investing $4.5 billion in a new facility to enhance its drug pipeline, focusing on obesity treatments like Mounjaro and Zepbound. Despite recent stock gains, technical indicators suggest short-term challenges, though long-term prospects remain strong.

Portfolio Pulse from Surbhi Jain

October 02, 2024 | 2:37 pm

COP

CVX

HES

IEO

SHEL

SLB

USO

XLE

XOM

Oil prices have spiked due to Middle East tensions and potential supply disruptions, leading to a rise in energy stocks. The United States Oil Fund (USO), IShares U.S. Oil & Gas Exploration & Production ETF (IEO), and SPDR Energy Select Sector Fund (XLE) have all seen gains. Major energy companies like Exxon Mobil, Chevron, and ConocoPhillips have also experienced stock price increases. Analysts are closely watching OPEC's upcoming meeting for potential changes in production curbs.

Portfolio Pulse from Adam Eckert

October 02, 2024 | 2:30 pm

BITW

XRP-USD

Bitwise Asset Management has filed for an XRP ETF, sparking debate due to regulatory uncertainties. The SEC's decision on Ripple's legal status and potential political changes could impact the ETF's approval.

Portfolio Pulse from Murtuza Merchant

October 02, 2024 | 2:22 pm

ACN

IETC

JGRW

NVDA

Accenture and NVIDIA have expanded their partnership to accelerate global AI adoption. Accenture will establish a new NVIDIA Business Group to train 30,000 professionals and open AI Refinery Engineering Hubs worldwide. This collaboration aims to enhance AI solutions and productivity for enterprises.

Portfolio Pulse from Lekha Gupta

October 02, 2024 | 2:19 pm

USO

The OPEC+ Joint Ministerial Monitoring Committee has concluded its meeting, where compensation mechanisms were discussed. This could impact oil prices and related ETFs.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 2:06 pm