Streetbeat News

Regulatory

SPY

Citadel's CEO Ken Griffin expressed concerns about the sustainability of Social Security, predicting a default cycle and suggesting sanctions may favor currencies other than the dollar. Although SPY is not directly mentioned, its relevance is implied in the context of economic and financial market implications.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 5:49 pm

HRL

Hormel Foods Corporation (NYSE:HRL) has voluntarily recalled two varieties of Planters nuts in five states due to potential contamination with listeria monocytogenes. The recall affects products shipped to specific retailers and there have been no reported illnesses. The recall is limited to certain packages of Honey Roasted Peanuts and Deluxe Lightly Salted Mixed Nuts. HRL shares were down 1.04% at $34.81 following the announcement.

Portfolio Pulse from Vandana Singh

May 06, 2024 | 5:46 pm

INTC

MU

The Biden administration's $280 billion CHIPS and Science Act aims to advance semiconductor technology by focusing on digital twins and establishing the CHIPS Manufacturing USA institute. This initiative will foster collaboration and resource-sharing among companies like Intel and Micron, which are among the beneficiaries of the act. The act supports the development of physical semiconductors and their virtual representations, enhancing innovation and training for the American workforce in this sector.

Portfolio Pulse from Franca Quarneti

May 06, 2024 | 5:46 pm

AMD

INTC

MU

NVDA

The Biden-Harris Administration announced a $285M funding opportunity for a CHIPS Manufacturing USA institute to develop digital twins technology for the semiconductor industry. This initiative, part of the 2022 Chips and Science Act, aims to advance U.S. chip technology and reduce dependence on international supply chains. Leading chipmakers like Nvidia, AMD, Intel, and Micron are involved, with Intel in talks for over $10B in subsidies and Micron signing a PMT for $6.1B in funding.

Portfolio Pulse from Shivani Kumaresan

May 06, 2024 | 5:41 pm

BNO

USO

Hamas has reportedly accepted a ceasefire proposal from Qatar and Egypt, which Israel does not agree to. Following this news, oil prices have pulled back.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 5:40 pm

EIS

ISRA

USO

Hamas' Deputy Gaza Chief announced a ceasefire proposal consisting of a three-phased agreement, with each phase lasting 42 days, as reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 5:39 pm

SPY

Citadel's CEO, Ken Griffin, expressed concerns about service inflation, indicating it is likely to persist, which could have implications for the broader economy and financial markets.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 5:34 pm

SPY

Fed's Williams suggests that the era of low volatility in financial markets may have ended, indicating potential shifts in economic policies or market conditions that could affect investor strategies.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 5:28 pm

EIS

ISRA

USO

A Hamas official informed Reuters that Hamas has agreed to a proposal addressing several demands, including a ceasefire, reconstruction efforts, the return of displaced individuals, and a prisoner swap deal.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 5:24 pm

SPY

Fed's Williams stated that the wind down of the Federal Reserve's balance sheet has proceeded smoothly and has not impacted the markets, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 5:12 pm