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China has set up its largest-ever semiconductor investment fund, Big Fund III, with $48 billion to nurture its domestic chipmaking industry. This move could impact U.S. chipmakers like Nvidia and AMD, which are already facing revenue contractions in China due to U.S. government restrictions.

Portfolio Pulse from Shanthi Rexaline

May 27, 2024 | 3:49 pm

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USO

Tensions in the Middle East have escalated due to an Israeli airstrike in Gaza's Rafah city, resulting in significant casualties and global condemnation. Additionally, a shooting incident on the Israeli-Egyptian border has raised tensions further. The Bank of Israel has kept interest rates unchanged, citing inflation concerns. The Israeli shekel weakened, and the iShares MSCI Israel ETF (EIS) and United States Oil Fund (USO) saw minor movements.

Portfolio Pulse from Piero Cingari

May 27, 2024 | 3:28 pm

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A crypto whale invested $24.7 million in Ethereum-based altcoins following the SEC's approval of a spot Ethereum ETF. The whale accumulated altcoins like Lido, Uniswap, Aave, Ethereum Name Service, and Fraxshare, resulting in an unrealized profit of around $1.1 million.

Portfolio Pulse from Benzinga Neuro

May 27, 2024 | 2:28 pm

STLA

Stellantis NV (NYSE:STLA) plans to produce two additional hybrid vehicles in Italy, aiming to increase local production amid political tensions. The move is seen as an effort to appease local politicians and unions while considering shifting some manufacturing to cheaper countries.

Portfolio Pulse from Benzinga Neuro

May 27, 2024 | 1:41 pm

GOOG

GOOGL

The National Highway Traffic Safety Administration (NHTSA) has identified nine additional reports of 'unexpected driving behavior' in vehicles equipped with Waymo's fifth-generation automated driving system, bringing the total to 31 reports. These incidents include collisions with stationary objects and disobeying traffic rules. The NHTSA has requested further information from Waymo by June 11.

Portfolio Pulse from Anan Ashraf

May 27, 2024 | 11:58 am

LLY

NVO

Chinese scientists have achieved a global first by curing a patient's diabetes using cell therapy. The patient has been insulin-free for 33 months, and the research was published in the journal Cell Discovery. This breakthrough offers hope for millions of diabetes sufferers worldwide and could revolutionize diabetes treatment.

Portfolio Pulse from Benzinga Neuro

May 27, 2024 | 11:16 am

NVDA

China has criticized the G-7 nations for their claims about China's trade practices, particularly overcapacity. The G-7 finance ministers and central bankers accused China of non-market policies that harm global economies. In response, China dismissed these allegations as protectionism. The Biden administration has reimposed tariffs on Chinese imports and increased duties on Chinese electric vehicles, while the EU is considering raising levies on China's EV industry. China has also launched a $47.5 billion state fund to boost its semiconductor industry and is investigating U.S. plastics imports, affecting companies like Basf and Asahi Kasei.

Portfolio Pulse from Benzinga Neuro

May 27, 2024 | 11:12 am

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The United Auto Workers (UAW) union is pushing for a new election at the Mercedes-Benz plant in Alabama, alleging unfair labor practices influenced the initial vote. Mercedes-Benz denies these allegations, maintaining adherence to NLRB guidelines.

Portfolio Pulse from Benzinga Neuro

May 27, 2024 | 6:06 am

ETHUSD

The approval of spot Ethereum ETFs is expected to spur the creation of more cryptocurrency-linked investment funds, according to TD Cowen. This approval is seen as a significant milestone that could lead to increased mainstream adoption and investment in cryptocurrencies.

Portfolio Pulse from Aniket Verma

May 27, 2024 | 5:05 am

DJT

Bill Gross, co-founder of PIMCO, warns that a Trump re-election would be more bearish for the bond markets than a Biden win due to Trump's proposed tax cuts and rising U.S. deficits. Gross has moved away from his bond strategy and is skeptical about US equity markets, advising investors to temper their expectations.

Portfolio Pulse from Benzinga Neuro

May 27, 2024 | 4:59 am