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EIS

ISRA

SPY

USO

Hamas has expressed a strong determination to reach a truce agreement that meets the demands of the Palestinians. The group highlighted its positive spirit in considering the ceasefire proposal and plans to continue with the same spirit in Cairo to reach an agreement, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 7:58 pm

CCJ

CEG

DUK

MMTLF

NXE

The U.S. Senate approved a ban on Russian enriched uranium, aiming to reduce reliance on Russian nuclear fuel and boost North American uranium miners. President Biden is expected to sign the bill, which could lead to higher uranium prices and increased domestic production. Cameco Corp. (CCJ) and other miners like NexGen Energy Ltd. (NXE) and Madison Metals Inc. (MMTLF) view this as positive for the industry. Utilities like Constellation Energy Corp. (CEG) and Duke Energy Corp. (DUK) have prepared by securing diverse uranium supplies. The ban, effective 90 days post-law enactment, includes waivers until 2028 for certain situations.

Portfolio Pulse from Matt Whittaker

May 03, 2024 | 7:54 pm

BTCUSD

DOGEUSD

ETHUSD

Cryptocurrency markets rallied with Bitcoin surpassing $60,000, driven by positive macro data and market sentiment. Major cryptos like Ethereum, Dogecoin, and others saw gains. Liquidations totaled $139.22 million, with significant exchange inflows and outflows reported. Spot Bitcoin ETFs experienced a net outflow, while Bitcoin whales accumulated 47,000 BTC. Developments include potential benefits of Hong Kong's Spot Bitcoin ETFs and delayed decisions on Bitcoin-related ETFs by the SEC. Analysts predict further gains if Bitcoin surpasses $67,000.

Portfolio Pulse from Khyathi Dalal

May 03, 2024 | 7:47 pm

BTCUSD

10x Research identifies a crucial level for Bitcoin at $62,000, suggesting a failure to surpass this could confirm a 'fake dip'. The firm highlights Bitcoin's relative strength retracing to 40% and notes the importance of bullish events like Yellen's deposit insurance proposal, Blackrock and Franklin Templeton's Bitcoin ETF filings, and a drop in U.S. Core PCE. Despite these, the current trend is bearish, resembling a top pattern rather than sideways movement, with a potential further drop to the low $50,000s.

Portfolio Pulse from Ivan Crnogatić

May 03, 2024 | 7:34 pm

BTCUSD

ETHUSD

James Seyffart, a Bloomberg Intelligence ETF research analyst, discussed the recent launch of Bitcoin and Ethereum spot ETFs in Hong Kong, highlighting the initial investment of $121 million and $20 million, respectively. He compared this to the slowing inflows of U.S. spot Bitcoin ETFs and expressed skepticism about the approval of spot Ethereum ETFs in the U.S. due to SEC's concerns. Seyffart also speculated on potential changes in SEC leadership and its impact on crypto ETFs.

Portfolio Pulse from Murtuza Merchant

May 03, 2024 | 6:50 pm

TD Bank's stock is trading lower due to a report about the Justice Department investigating its internal controls related to a money laundering and drug trafficking case.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 6:12 pm

EWW

TSLA

Mexico's economy faces challenges with slowing GDP growth, rising inflation, and unlikely interest rate cuts, impacting investor sentiment. The iShares MSCI Mexico ETF (EWW) has seen modest performance compared to its Latin American peers, with concerns over Mexico's manufacturing slowdown and upcoming elections. However, Mexico could benefit from geopolitical shifts and increased investment from companies diversifying away from China, including significant investments by Tesla (TSLA) and others in Nuevo Leon.

Portfolio Pulse from Kenneth Rapoza

May 03, 2024 | 6:09 pm

BTCUSD

The SEC has postponed its decision on the 7RCC Spot Bitcoin and Carbon Credit Futures ETF until June 24, 2024, for further review. This ETF aims to allocate 80% to Bitcoin and 20% to carbon credit futures, reflecting a novel diversification strategy. The delay highlights the SEC's cautious stance on innovative ETFs combining digital assets with environmental financial instruments.

Portfolio Pulse from Murtuza Merchant

May 03, 2024 | 6:09 pm

SPY

U.S. Democratic Representative Henry Cuellar has been indicted on charges of conspiracy and bribery, according to a court filing. The news may have implications for market sentiment, particularly in sectors sensitive to political and regulatory developments.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 5:57 pm

TSLA

The U.S. Department of the Treasury and IRS released final rules on the clean vehicle provisions of the Inflation Reduction Act, aiming to lower consumer costs, boost U.S. manufacturing in batteries and clean vehicles, and strengthen energy security. The rules include up to $7,500 in credits for new clean vehicles and up to $4,000 for previously-owned clean vehicles, with over $700 million in upfront savings for consumers so far. The regulations also detail critical mineral content requirements and restrictions on Foreign Entities of Concern to ensure supply chain resilience.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 5:44 pm