Streetbeat News

Regulatory

MELI

MercadoLibre's executive announced that obtaining a banking license in Mexico will take between 12 and 24 months. This move is part of the company's strategy to expand its financial services in the region.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 4:44 pm

AAPL

SPOT

XLK

Apple Inc. (NASDAQ:AAPL) is appealing a $1.95 billion fine imposed by the EU for allegedly undermining fair competition from music-streaming services like Spotify Technology SA (NYSE:SPOT). The EU's decision mandates Apple to allow music-streaming apps to inform users about cheaper deals outside its App Store. Spotify has adjusted its app to comply with the ruling. The European Commission is prepared to defend its decision in court. Apple argues that there is no credible evidence of consumer harm. This is part of ongoing legal battles between Apple and EU regulators.

Portfolio Pulse from Shivani Kumaresan

May 21, 2024 | 4:40 pm

BTCUSD

DOGEUSD

ETHUSD

The SEC's request for revisions to Ether ETF applications has generated optimism in the cryptocurrency industry. Experts believe that the approval of Ethereum ETFs could lead to mass adoption, increased legitimacy, and significant price increases for Ethereum. The approval could also set a precedent for other altcoin ETFs.

Portfolio Pulse from Murtuza Merchant

May 21, 2024 | 4:40 pm

IVV

QQQ

SPY

VOO

VTI

Ray Dalio, founder of Bridgewater Associates, warns of a potential civil war in the U.S. driven by political polarization, wealth inequality, and external conflicts. He estimates a 40% chance of such a conflict, which could significantly impact broad market ETFs like SPY, IVV, VOO, VTI, and QQQ.

Portfolio Pulse from Surbhi Jain

May 21, 2024 | 4:36 pm

BLK

SPY

The SEC appears more likely to approve Ether ETFs from companies like BlackRock and VanEck, which could impact Bitcoin and other cryptocurrencies.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 4:33 pm

SPY

Fed's Barr indicates that interest-rate risk will persist and needs to be managed, suggesting that rates may need to stay high for longer than previously anticipated. He also emphasized the need to continue efforts to control inflation, while noting that the overall economy remains strong.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 3:52 pm

BTCUSD

ETHUSD

Economist and crypto trader Alex Krüger predicts that Bitcoin will rise significantly by year-end, while Ethereum may underperform due to a potential ETF rejection. However, he suggests that the U.S. elections could lead to regulatory changes and an Ethereum ETF approval in 2025, which would boost Ethereum's performance. An unexpected early approval of an Ethereum ETF could drive Ethereum to new all-time highs. Bloomberg analysts have updated the approval chances to 75%. Traders should stay vigilant until the decision on May 23.

Portfolio Pulse from Khyathi Dalal

May 21, 2024 | 3:26 pm

AMSYF

VFS

VinFast Auto Ltd. (NASDAQ: VFS) shares are falling due to a U.S. regulator investigation into a fatal crash involving a VF 8 vehicle, a lawsuit over unpaid rent, alleged patent violations, and a class action lawsuit by shareholders.

Portfolio Pulse from Nabaparna Bhattacharya

May 21, 2024 | 3:24 pm

DWAC

Trump Media & Technology Group shares are trading lower following a year-over-year decrease in Q1 revenue results and the company's cooperation with a FINRA inquiry.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 3:09 pm

BABA

BIDU

BILI

BLK

FXI

KWEB

PDD

U.S. short sellers are speculating that the surge in Chinese stocks is over, leading to a selloff in major Chinese companies like Baidu, JD.com, Alibaba, Bilibili, and PDD Holdings. Bearish bets against BlackRock's iShares China Large-Cap ETF have reached their highest since October 2020. Investors are cautious due to mixed economic outcomes in China and the risk of sudden regulatory crackdowns.

Portfolio Pulse from Anusuya Lahiri

May 21, 2024 | 3:03 pm