Streetbeat News

Regulatory

PCG

Regulators have rejected Pacific Gas & Electric's proposal to sell a stake in its power unit. This decision could impact the company's financial and strategic plans.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 6:46 pm

SPY

Fed's Daly commented on the labor market cooling, indicating it as an expected and positive development. This perspective aligns with the Federal Reserve's efforts to manage economic growth and inflation.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 6:44 pm

SPY

Fed's Daly commented on the labor market, distinguishing between it being 'softer' versus 'getting weak.' A softening labor market is seen as a return to normal growth, while a weakening market could prompt a change in policy rate.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 6:44 pm

SPY

Fed's Daly emphasized that the Federal Reserve cannot incorporate politics or political changes into its policy discussions, stating that their job is already challenging without these considerations.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 6:41 pm

SPY

Fed's Daly emphasized that the Federal Reserve's inflation target remains at 2% and reassured that the goalpost will not be moved during the process of achieving this target, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 6:39 pm

SPY

Fed's Daly discussed the future framework considerations, focusing on the neutral level of rates, the likelihood of rates hitting the zero lower bound, and the path of potential output.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 6:35 pm

SPY

Fed's Daly anticipates that the next framework review will explore whether the Fed will be combating inflation from below or above its target, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 6:34 pm

AAL

IYT

JETS

LUV

UAL

The U.S. Transportation Department's Office of Inspector General announced an audit of the FAA's oversight of United Airlines Holdings Inc. (UAL) maintenance operations, following several incidents. This audit is part of a series evaluating the FAA's maintenance oversight at major airlines, including Southwest Airlines Co. (LUV) and American Airlines Group Inc. (AAL). The FAA has restricted United from adding new aircraft or initiating service to new cities during the review. United Airlines' stock is accessible through U.S. Global Jets ETF (JETS) and iShares U.S. Transportation ETF (IYT).

Portfolio Pulse from Shivani Kumaresan

May 09, 2024 | 6:29 pm

AAPL

AMZN

GOOG

GOOGL

META

The antitrust trial against Alphabet Inc (GOOG/GOOGL) has concluded, with a decision expected by year-end. The case, initiated by the Justice Department and 11 states in 2020, accuses Google of anti-competitive practices to maintain its search engine dominance, notably through payments to companies like Apple (AAPL) for default search engine status. The outcome could influence broader antitrust actions against big tech, including Amazon (AMZN) and Meta Platforms (META). Possible penalties for Google could range from breaking up the company to ending exclusivity agreements.

Portfolio Pulse from Natan Ponieman

May 09, 2024 | 6:21 pm

SPY

Fed's Daly stated that the Federal Reserve's policy is currently restrictive, aiming to curb inflation, but emphasized that it may still take time for these measures to effectively bring inflation down.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 6:20 pm