Streetbeat News

Regulatory

SPY

Fed's Daly emphasized that policymakers are resolute, thoughtful, and data-dependent, according to Reuters. This statement underscores the Federal Reserve's commitment to making informed decisions based on economic data.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 6:07 pm

ETH-USD

On Tuesday, 19,544.93 Ether (ETH) worth approximately $74.73 million was burned, permanently removing it from circulation. This action is part of the Ethereum blockchain's EIP-1159 upgrade, which introduced a variable base fee for transactions that is burned. The Ethereum network is currently issuing new Ether at a 4% annual rate, expected to decrease to 0.5-1% with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -26.68% yesterday.

Portfolio Pulse from Benzinga Insights

March 06, 2024 | 6:00 pm

SPY

Fed Chair Jerome Powell concluded his appearance before Congress, an event closely watched by investors for insights into future monetary policy and its potential impact on the markets.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 5:58 pm

BA

SPR

The National Transportation Safety Board (NTSB) is set to conduct an investigative hearing into the 737 Max 9, which will feature testimony from employees of Boeing and Spirit Aerosystems. This hearing is part of the ongoing scrutiny over the aircraft's safety and operational standards.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 5:57 pm

SPY

Fed Chair Powell discussed the current state of public sector hiring, AI's potential impact on productivity and labor, and the sustainability of current productivity gains. He indicated that the pace of public sector hiring is not a concern for the Fed, and while AI has the capacity to either augment or replace labor, it's uncertain which path it will take. Powell expressed hope that the current productivity gains can be sustained.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 5:54 pm

GOOG

MSFT

AI image creation tools from OpenAI and Microsoft Corp (NASDAQ:MSFT) are reported by the Center for Countering Digital Hate (CCDH) to potentially fuel election misinformation by generating images that could mislead voters. The CCDH's tests on platforms like ChatGPT Plus, Microsoft's Image Creator, Midjourney, and Stability AI's DreamStudio showed a 41% success rate in generating misleading images, particularly concerning election fraud. Midjourney and Stability AI have announced updates to improve moderation and forbid disinformation. Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) CEO Sundar Pichai also acknowledged issues with its Gemini AI chatbot. Microsoft has launched a tool to combat deepfakes ahead of the 2024 presidential election. MSFT shares saw a 0.30% increase.

Portfolio Pulse from Anusuya Lahiri

March 06, 2024 | 5:53 pm

NEPT

Neptune Wellness Solutions announced its stock will be delisted, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 5:48 pm

GDX

GDXJ

GLD

UUP

Gold and silver prices surged to new highs following Fed Chair Jerome Powell's hints at potential rate cuts in 2024, boosting mining stocks and ETFs. The SPDR Gold Trust (GLD) and Invesco DB USD Index Bullish Fund ETF (UUP) experienced significant movements, alongside a rally in mining stocks and ETFs like the VanEck Gold Miners ETF (GDX) and the VanEck Junior Gold Miners ETF (GDXJ).

Portfolio Pulse from Piero Cingari

March 06, 2024 | 5:43 pm

BA

NTSB Chair Homendy announced plans for an investigative hearing on the Boeing 737 Max 9 towards the end of summer, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 5:39 pm

SPY

Fed's Daly stated that the Federal Reserve is currently in a 'waiting and watching' phase regarding the economy, to fine-tune future decision-making. This indicates a cautious approach to monetary policy adjustments, potentially impacting market sentiment and investor strategies.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 5:31 pm