Streetbeat News

Regulatory

NTES

NetEase shares are trading lower despite earlier gains in the week due to new game approvals. The fluctuation highlights the volatile nature of the gaming industry's stock, influenced by regulatory approvals.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 4:51 pm

FXI

SPY

U.S. airlines and their unions have requested the Biden administration to temporarily halt the approval of new flights to the U.S. by Chinese airlines, according to a letter cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 4:40 pm

QQQ

SPY

The Producer Price Index (PPI) for March 2024 increased to 2.1% year-over-year, slightly below expectations, following a consumer price inflation report that exceeded forecasts. The SPDR S&P 500 ETF Trust (SPY) remained flat, while the Invesco QQQ Trust (QQQ) saw a modest rebound. Economists and analysts suggest the mixed PPI data, alongside consecutive months of rising CPI, indicate a reduced likelihood of Federal Reserve rate cuts this year, with any potential adjustments not expected until at least July. The data has led to a reevaluation of the Fed's pivot on interest rates, with future monthly PPI gains expected to be higher.

Portfolio Pulse from Piero Cingari

April 11, 2024 | 4:28 pm

SPY

Fed's Collins remarks it's 'too early' to interpret the recent rise in productivity, indicating a cautious stance on economic indicators.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 4:27 pm

SPY

Susan M. Collins, President & CEO of the Federal Reserve Bank of Boston, has stated that economic uncertainty is currently elevated, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 4:24 pm

SPY

Fed's Collins remarks on the economy's resilience and the current state of inflation suggest that the Federal Reserve's policy is well-positioned, despite the strong job market and recent inflation data. The economy's strength indicates that the Fed's policy might not be as restrictive as previously thought, reducing the urgency for rate cuts. However, Collins expects that it may take longer to bring inflation back to the 2% target.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 4:02 pm

SPY

Fed's Collins remarks on the current economic data suggest no immediate need to adjust interest rates, despite anticipating rate cuts within the year. The enduring economic strength could imply fewer rate cuts than expected, and the path to disinflation is projected to be uneven.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 4:01 pm

BHC

A U.S. Appeals Court has ruled in favor of Bausch Health Companies Inc. (BHC), allowing it to prevent Alvogen from producing a generic version of its Xifaxan diarrhea drug until 2029, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 3:50 pm

PYPL

PayPal Holdings Inc (NASDAQ:PYPL) shares dropped 1.8% to $64.72 due to mixed inflation data affecting American producers. The Producer Price Index (PPI) showed a year-on-year increase of 2.1%, the highest in almost a year, after strong consumer inflation data. PayPal's stock is sensitive to interest rate changes, with higher inflation potentially leading to tighter monetary policy by the Federal Reserve, affecting PayPal's business model reliant on low interest rates for consumer spending and borrowing.

Portfolio Pulse from Henry Khederian

April 11, 2024 | 3:48 pm

GM

General Motors Co (NYSE:GM) shares dropped 1.6% to $43.24 amid mixed inflation data, with the Producer Price Index (PPI) showing a year-on-year increase of 2.1%. This inflation level, the highest in nearly a year, raises concerns about rising production costs and potential delays in interest rate cuts, impacting companies like GM that depend on complex supply chains. Higher inflation may lead to tighter monetary policy, affecting investor sentiment towards interest rate-sensitive sectors like the automotive industry.

Portfolio Pulse from Henry Khederian

April 11, 2024 | 3:48 pm