Streetbeat News

Regulatory

EWA

Australia's Building Approvals for January showed a decrease of 1.0% month-over-month, contrasting with the estimated 3.8% increase and a significant revision from the prior -10.1%.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 5:30 am

BTC-USD

DOGE-USD

ETH-USD

Major cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, experienced significant gains amid market optimism and FOMO. Bitcoin's price surged over $62,000, with an upcoming halving event in April expected to further impact its value. The global cryptocurrency market cap increased by 1.36% to $2.31 trillion. U.S. stock futures showed minimal movement, with investors awaiting Federal Reserve updates. Analysts predict a potential massive run for altcoins and a possible surge in Bitcoin to $100,000 in 2024, driven by increased liquidity.

Portfolio Pulse from Mehab Qureshi

March 04, 2024 | 4:48 am

GOOG

GOOGL

Elon Musk expressed concerns over the House Judiciary Committee's investigation into the White House's potential influence on Alphabet Inc.'s Gemini AI model. The investigation probes into content moderation decisions and the fine-tuning of the Gemini AI model, amid allegations of coercion or collusion with tech companies to moderate online content. The controversy around Gemini AI's historically inaccurate content has also been highlighted.

Portfolio Pulse from Ananya Gairola

March 04, 2024 | 3:56 am

SPY

USO

VGK

Bloomberg reported that OPEC+ has agreed to extend supply curbs until the end of Q2, potentially affecting global oil supply and market dynamics.

Portfolio Pulse from Charles Gross

March 03, 2024 | 5:25 pm

JPM

The week's financial updates highlighted the U.S. Federal Reserve's inflation gauge meeting expectations, growing concerns over the national debt, and speculation about a recession and a potential second Trump term. El Salvador's President questioned US monetary policy, while JPMorgan's CEO expressed concerns about the economy. The possibility of a second Trump presidency raised discussions on its impact on the stock market.

Portfolio Pulse from Benzinga Neuro

March 03, 2024 | 12:10 pm

GOOG

Alphabet Inc's Google is facing calls for CEO Sundar Pichai to step down amid concerns over its pace of innovation, especially in AI. Analysts like Ben Thompson and Mark Shmulik suggest a leadership change might be necessary for Google to navigate the AI era effectively. Despite Pichai's success in growing Google's market cap significantly, recent missteps and the tech industry's rapid shift towards AI have led to debates about the company's future direction and leadership. Gartner predicts a 25% drop in traditional search volume by 2026 due to AI, highlighting the urgency for Google to adapt.

Portfolio Pulse from Bibhu Pattnaik

March 02, 2024 | 11:56 pm

BLK

JPM

Presidential candidate Robert Kennedy Jr. criticized big banks like BlackRock and JP Morgan for influencing Congress against Bitcoin, emphasizing the need for transactional freedom and protection against inflation for the middle class. He highlighted the importance of Bitcoin in ensuring such freedoms, contrasting with government-controlled digital currencies. Donald Trump also expressed a cautious acceptance of Bitcoin and opposed central bank digital currencies, citing control over money as a threat to freedom.

Portfolio Pulse from Shanthi Rexaline

March 02, 2024 | 8:29 pm

AAPL

FSR

GOEV

KARS

TSLA

Electric vehicle stocks saw gains, with Tesla closing above $200 for the first time since mid-February. Key events included Tesla's Roadster update and Model Y price cut reversion, Apple shelving its self-driving car project, Fisker seeking partnerships to stay afloat, Biden's administration blocking Chinese EVs due to security risks, and Canoo's shareholder approval for a reverse stock split. The KraneShares Electric Vehicles ETF also saw a weekly increase.

Portfolio Pulse from Shanthi Rexaline

March 02, 2024 | 2:21 pm

AAPL

CVNA

DIS

GOOG

Benzinga's weekly review highlights market movements, with the Nasdaq and S&P 500 seeing gains, while the Dow slightly declined. Bitcoin surpassed $60,000, anticipating the halving event. Bullish views include Ackman's confidence in Alphabet for its AI and advertising, optimistic forecasts for Dogecoin and Shiba Inu, and predictions of Bitcoin reaching $200,000. Bearish perspectives involve Goldman Sachs removing Apple from its Conviction List, criticism of Disney by Gov. DeSantis, and a short report on Carvana questioning its valuation.

Portfolio Pulse from Michael Cohen

March 02, 2024 | 2:02 pm

Toyota Motor North America's CEO, Ted Ogawa, predicts battery electric vehicles (BEVs) will make up about 30% of the U.S. new-vehicle market by 2030, half of the EPA's target. The company plans to align its strategy with consumer demand, even if it means buying credits to meet regulations. Toyota faces criticism for its diversified fuel strategy and concerns about competition from Chinese automakers entering the U.S. market through Mexico.

Portfolio Pulse from Anan Ashraf

March 02, 2024 | 5:46 am