Streetbeat News

Regulatory

GLD

SLV

Gold and silver prices have increased after mixed inflation data was released, potentially influencing future Federal Reserve policy decisions.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 5:58 pm

The UAE's ADNOC considered a takeover of BP but did not progress beyond preliminary discussions. The deal was deemed not the right fit for ADNOC's strategy, and political considerations also played a role in the evaluation. Both ADNOC and BP declined to comment on the matter, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 5:49 pm

XMRUSD

Kraken, a leading cryptocurrency exchange, announced it will delist Monero (XMR) for customers in Ireland and Belgium due to upcoming EU Anti Money Laundering Regulation. Trading and deposits of XMR will cease on May 10, with withdrawals stopping on June 10, leading to automatic conversion of any remaining XMR to bitcoin. This follows similar actions by Binance and OKX, reflecting increasing regulatory pressures on privacy coins.

Portfolio Pulse from Khyathi Dalal

April 11, 2024 | 5:43 pm

ALLR

Allarity Therapeutics has filed a prospectus supplement with the SEC to increase the offering price of its common stock from $1.4 million to $2.4 million. This move indicates the company's intention to raise more capital through its stock offering.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 5:42 pm

APVO

ELYM

ENLV

FAST

RCEL

RENT

RLYB

Fastenal Company's shares dropped by around 7% due to disappointing Q1 FY24 financial results, with sales and EPS missing consensus estimates. Other stocks experienced significant movements, with Rallybio Corporation, Rent the Runway, and Eliem Therapeutics among the top gainers, while Aptevo Therapeutics, Enlivex Therapeutics, and AVITA Medical led the losers.

Portfolio Pulse from Avi Kapoor

April 11, 2024 | 5:33 pm

IYR

MBB

SCHH

VMBS

VNQ

XLRE

Mortgage rates have surged, with the 30-year fixed-rate mortgage reaching 6.88%, raising concerns about the housing market's future. Persistent inflation and Federal Reserve policies are blamed for the rate hikes. This situation poses challenges for homebuyers, facing high home prices and limited inventory. However, it could benefit investors in real estate ETFs like VNQ, SCHH, XLRE, and IYR due to rising home prices, while those in mortgage ETFs like MBB and VMBS should be cautious.

Portfolio Pulse from Surbhi Jain

April 11, 2024 | 5:32 pm

AYRWF

CURLF

SHWZ

Viridian Capital Advisors' analysis reveals a 292% surge in trading volume for the cannabis sector, with AYR Wellness leading. Despite this, major Multi-State Operators like Curaleaf and AYR face liquidity challenges, with increased days required to trade their market cap. The report emphasizes the importance of liquidity for investors and hints at potential DEA rescheduling as a factor for market outlook but notes skepticism about attracting more institutional investment without further reforms.

Portfolio Pulse from Nicolás Jose Rodriguez

April 11, 2024 | 5:17 pm

MSFT

SPY

OpenAI CEO Sam Altman emphasized the importance of the U.S. developing a comprehensive AI policy, highlighting the rapid advancements in artificial intelligence and its implications for society and the economy. While the article mentions Microsoft (MSFT) and the SPDR S&P 500 ETF Trust (SPY) in relation to the broader market and technology sector's interest in AI, the focus remains on the call for regulatory frameworks.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 4:57 pm

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