Streetbeat News

Regulatory

SPY

USO

U.S. House Minority Leader Jeffries announced that Democrats will provide a majority of their caucus' votes on the aid bills, signaling strong party support for the legislation.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 4:08 pm

EIS

ISRA

SPY

USO

Iran's Foreign Minister Amirabdollahian stated that mini drones did not cause any damage or casualties in Isfahan, countering pro-Israeli media's portrayal of the event as a victory. The statement was reported by Reuters, citing state media.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 3:46 pm

DJT

Trump Media & Technology Group Corp. (NASDAQ:DJT) has reported suspected naked short selling of its shares to Nasdaq, citing its appearance on the Reg SHO threshold list, which signals illegal trading activity. The company highlighted that such practices harm retail investors and noted that four market participants, including Citadel Securities and VIRTU Americas, are responsible for a significant volume of DJT's traded shares. Amidst a share price decline since going public, the company advised shareholders on preventing their shares from being loaned for short positions.

Portfolio Pulse from Nabaparna Bhattacharya

April 19, 2024 | 3:44 pm

TLT

IMF deputy chief Gita Gopinath highlighted the unsustainable U.S. fiscal deficit, currently at 7% of GDP, with projections showing it remaining above 6% through 2029. The U.S. government debt-to-GDP ratio is expected to rise from 122% to 134% by 2029. Gopinath warned of global economic stability risks and higher borrowing costs due to U.S. debt dynamics. Despite expectations of lower interest rates, the fiscal challenges persist, with the iShares 20+ Year Treasury Bond ETF (TLT) experiencing a 9% decline this year.

Portfolio Pulse from Piero Cingari

April 19, 2024 | 3:41 pm

TVTX

Travere Therapeutics and CCL Vifor received European Commission approval for Sparsentan, a treatment for IgA Nephropathy. This marks a significant milestone in providing a new therapeutic option for patients with this kidney disease.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 3:41 pm

AAPL

AMZN

GOOG

META

MSFT

NVDA

QQQ

SPY

TSLA

Stock futures dipped on news of an Israeli attack on Iran but were aggressively bought by the momo crowd, indicating net demand. Oil initially rallied but then lost its gains. New York Fed President John Williams hinted at potential rate hikes if needed, contrary to earlier momo guru predictions of rate cuts. Tesla Inc fell below $150 in premarket trading, down significantly year-to-date. Early trade money flows were positive for Meta Platforms Inc and SPDR S&P 500 ETF Trust, neutral for Apple Inc and Microsoft Corp, and negative for Amazon.com Inc, Alphabet Inc, NVIDIA Corp, and Tesla Inc. Gold and oil saw mixed actions from the momo crowd and smart money.

Portfolio Pulse from The Arora Report

April 19, 2024 | 3:23 pm

SPY

Fed's Goolsbee emphasized that the Federal Reserve's mandate does not include considerations related to elections or the stock market. This statement clarifies the Fed's focus on its core objectives, irrespective of external factors such as political events or market fluctuations.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 3:17 pm

SPY

VGK

U.S. Senate Majority Leader Chuck Schumer announced that the Senate will expedite the process to consider a Ukraine aid bill. This move underscores the U.S. government's commitment to supporting Ukraine amidst ongoing geopolitical tensions.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 3:16 pm

SPY

Fed's Goolsbee highlights concerns over rising delinquencies in the economy, stating that while current levels are similar to pre-COVID times, such measures historically signal potential issues. Emphasizing a forward-looking policy approach, he indicates the Fed's intent to preemptively address economic challenges.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 3:15 pm

KBE

KRE

SPY

XLF

Fed's Goolsbee expressed confidence in the adequacy of banks' capital, emphasizing that balance sheet decisions are distinct from monetary policy. This statement could influence perceptions of the banking sector's stability and the broader financial market.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 3:07 pm