Streetbeat News

Regulatory

EIS

SPY

USO

Hamas has rejected the latest ceasefire proposal from Israel, according to Hamas official Ali Baraka. This development could potentially escalate tensions in the region.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 5:44 pm

SPY

Fed's Goolsbee highlights a significant disconnect between economic data and consumer sentiment, noting widespread dissatisfaction with the economy.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 5:42 pm

ETHUSD

The Q1 report from IntoTheBlock highlights a 300% increase in the value of meme coins to $56 billion and significant developments in the cryptocurrency market, including the launch of nine new spot Bitcoin ETFs in the U.S. and the Ethereum Dencun upgrade. The Dencun upgrade, implementing EIP-4844, aims to lower transaction costs and improve scalability, marking a major step in Ethereum's evolution. These developments, along with the upcoming Bitcoin halving event, indicate a pivotal period for the cryptocurrency sector.

Portfolio Pulse from Murtuza Merchant

April 08, 2024 | 5:42 pm

SPY

Fed's Goolsbee comments on the current state of the economy and the Federal Reserve's role. He notes the economy was on a 'Golden Path' in 2023, remains strong as confirmed by jobs data, and discusses the duration of restrictive monetary policy.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 5:41 pm

SOL

The Solana network is facing severe congestion due to a surge in spam transactions and meme coin activity, leading to delays and transaction failures. Developers are working on software patches and updates to address these issues. Despite the congestion, Solana has attracted significant attention and investment, partly due to its low transaction fees and the influx of new users drawn by meme coin activity. However, the network's current challenges could impact user experience and investor confidence if not resolved quickly.

Portfolio Pulse from Murtuza Merchant

April 08, 2024 | 5:27 pm

EIS

SPY

USO

Israel's Prime Minister Netanyahu announced a date for a Rafah invasion in Gaza, signaling potential escalations in the region. This development could have implications on global markets and specific US-listed assets such as EIS, SPY, and USO.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 5:08 pm

CURLF

Recent developments in Europe's cannabis sector include the arrest of French mayor Jamilah Habsaoui with 70kg of cannabis resin found in her home, the closure of Christiania's Pusher Street in Denmark to halt cannabis sales, and the rapid growth of Poland's medical marijuana market, highlighted by Curaleaf International's expansion through the acquisition of Can4Med. Curaleaf Holdings Inc (OTCQX:CURLF) is recognized for its significant role in the European cannabis market.

Portfolio Pulse from Nina Zdinjak

April 08, 2024 | 4:50 pm

SCHW

The Schwab Trading Activity Index (STAX) rose to 51.65 in March from 47.65 in February, indicating moderate market exposure among Schwab clients who favored Information Technology, Health Care, and Consumer Staples sectors. Despite mixed macroeconomic data, U.S. equity markets reached new highs, with the Nasdaq and S&P 500 soaring, while the VIX and U.S. Dollar Index remained stable. Economic indicators showed mixed signals, with jobless claims slightly higher than expected, a significant increase in nonfarm payrolls, and a rise in both CPI and PPI. Fed Chairman Powell noted a gradual decrease in inflation, but consumer confidence dipped. May Crude Oil Futures surged by 8.7%.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 4:33 pm

NVDA

TSM

Taiwan Semiconductor Manufacturing Co (TSM) benefits from the U.S. CHIPS Act with $6.6 billion funding for Arizona plants, boosting its stock. Rep. Josh Gottheimer profited from trading TSM shares around the CHIPS Act announcement. NVIDIA Corporation (NVDA) is also mentioned as a customer of TSM.

Portfolio Pulse from Chris Katje

April 08, 2024 | 4:23 pm

FXI

SPY

Elon Musk, in an X Spaces interview, stated that China will not be far behind the U.S. in AI development. This comment suggests a competitive landscape in AI technology between the two countries.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 4:22 pm