Streetbeat News

Regulatory

USO

VGK

Russia and the IAEA have discussed sharing power from Russian-controlled nuclear plants with free areas of Ukraine. Meanwhile, Ukraine and Russia have exchanged accusations over recent drone attacks on a nuclear plant. Officials and experts have raised concerns that Russia's attempts to restart reactors could lead to accidents.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 4:37 pm

SPY

Fed's Goolsbee remarks that market movements are largely 'mostly noise,' but acknowledges that financial conditions have a long-term impact on the economy. This statement suggests a cautious approach to interpreting short-term market fluctuations while recognizing their eventual influence on economic health.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 4:32 pm

SPY

Fed's Goolsbee emphasizes the Federal Reserve's commitment to its dual mandate on employment and prices, stating it does not respond to political pressures or concerns.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 4:29 pm

SPY

Fed's Goolsbee highlights Middle East instability as a significant uncertainty for the Federal Reserve, particularly concerning its impact on oil prices and gas. He notes that a negative supply shock in this context would be detrimental.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 4:27 pm

FXI

SMH

SPY

The U.S. is facing resistance to imposing additional chip restrictions on China as the election approaches. According to Bloomberg, sources familiar with the discussions have reported pushback against further chip curbs.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 4:26 pm

SPY

Fed's Goolsbee expressed concerns that if shelter inflation does not revert to pre-pandemic levels, achieving the inflation target will be challenging. This statement underscores the importance of housing costs in the broader inflationary landscape and the Fed's focus on managing these pressures to meet its goals.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 4:25 pm

SPY

Fed's Goolsbee comments on the challenges of the final phase of controlling inflation, highlighting the complexity of the 'last mile' and the potential limited impact of supply. He emphasizes the critical role of housing in the immediate term for inflation.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 4:23 pm

SPY

Chicago Fed President Goolsbee highlighted the U.S. is navigating through 'cross currents' and emphasized the importance of the Federal Reserve bringing inflation back down to its target. This statement underscores the Fed's ongoing battle against inflation and its implications for monetary policy.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 4:21 pm

F

FTXR

RDIV

Ford Motor Company (NYSE:F) shares fell after the National Highway Traffic Safety Administration (NHTSA) initiated an investigation into the recall of 42,652 Ford SUVs, including 2022 and 2023 Ford Bronco Sport and the 2022 Ford Escape models, due to fuel leak risks that could potentially cause fires. The recall was initially for a software update and drain tube installation, but did not include replacing the cracked fuel injectors, which are the cause of the leaks. Ford plans to incorporate fuel injector leak detection into the engine control software. F stock dropped 2.68% to $12.69. Investors can also gain exposure to F stock through First Trust Nasdaq Transportation ETF (NASDAQ:FTXR) and Invesco S&P Ultra Dividend Revenue ETF (NYSE:RDIV).

Portfolio Pulse from Nabaparna Bhattacharya

April 12, 2024 | 4:13 pm

MS

Federal regulators, including the SEC, the Office of the Comptroller of the Currency, and the Federal Reserve, are investigating Morgan Stanley's wealth-management division for potential money laundering issues. The probe focuses on the bank's client vetting processes, especially for international clients, and the integration of technology and processes following its acquisition of E*Trade. Morgan Stanley's wealth division, crucial for its revenue, has seen slowed growth. Shares of Morgan Stanley (NYSE:MS) dropped slightly by 0.14% to $86.72.

Portfolio Pulse from Shivani Kumaresan

April 12, 2024 | 4:06 pm