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TIP

Larry Summers, former Treasury Secretary, commented on recent inflation data, suggesting the next Federal Reserve move could be a rate increase rather than a cut. January's consumer and producer price inflation numbers were higher than expected, challenging the notion of a 'soft-landing' for the economy. Summers highlighted the resilience of housing costs, particularly owner-occupied housing, which may not be as deflationary as previously thought. He also criticized the strict 2% inflation target and suggested the Fed should proceed with caution, noting a potential rate hike in the future.

Portfolio Pulse from Shanthi Rexaline

February 17, 2024 | 6:38 pm

BTCUSD

DOGEUSD

ETHUSD

Major cryptocurrencies experienced marginal losses late Friday, despite the crypto market cap reaching its highest level since spring 2022. Bitcoin surged 9.4% over the past week, briefly hitting $52,000. Ethereum, Solana, and other altcoins also saw significant movements. Franklin Templeton filed for a spot Ether ETF, joining other applicants. The first half of February saw an average daily trading volume of $1.8 billion for notable ETFs, with Bitcoin ETF assets rapidly increasing. The global cryptocurrency market cap stands at $1.94 trillion, with Bitcoin dominance at 52.42%.

Portfolio Pulse from Khyathi Dalal

February 17, 2024 | 3:22 pm

ANET

DIS

NVDA

PANW

TSLA

The article discusses the end of a five-week winning streak for major indexes due to unexpectedly high inflation data, influencing market expectations for Federal Reserve rate cuts. It highlights bullish and bearish perspectives on stocks like Tesla, Nvidia, Disney, and AI-related companies Palo Alto Networks and Arista Networks, as well as a prediction for Dogecoin. Concerns over inflation, market peaks, and corporate governance issues at Disney are also mentioned.

Portfolio Pulse from Michael Cohen

February 17, 2024 | 2:22 pm

DWAC

Donald Trump was fined $350 million in a New York civil fraud case, banned from doing business in the state, and prohibited from applying for loans from NY-chartered financial institutions for three years. His niece, Mary Trump, commented on the significant financial and psychological impact of the verdict on Trump, highlighting the challenges he faces in covering the fines and damages exceeding his liquid assets. The verdict's timing coincides with the SEC clearing a merger involving Trump's media company, potentially boosting his finances.

Portfolio Pulse from Shanthi Rexaline

February 17, 2024 | 2:03 pm

META

Elon Musk criticizes Meta Platforms Inc. (NASDAQ:META) for using 'election integrity' as a pretext for censorship, in response to Meta's President revealing a $20 billion investment in 'safety and integrity' efforts. This ongoing dispute highlights Musk's stance on free speech and Meta's controversial censorship practices.

Portfolio Pulse from Ananya Gairola

February 17, 2024 | 8:30 am

INTC

SSNLF

TSM

Sam Altman, CEO of OpenAI, is seeking approval from the Biden administration for a $7 trillion project to increase global semiconductor production for AI chips. Altman has discussed potential investments with major chip manufacturers like Taiwan Semiconductor Manufacturing Co. (TSM), Intel Corp. (INTC), and Samsung Electronics Co. (SSNLF), as well as with Middle Eastern sovereign wealth funds. The project aims to prevent a potential shortage of advanced computing chips, crucial for AI's widespread deployment. However, it faces potential regulatory hurdles, including national security reviews and antitrust concerns.

Portfolio Pulse from Rounak Jain

February 17, 2024 | 4:46 am

AYRWF

CURLF

GTBIF

PLNHF

Nevada's first cannabis consumption lounge, Smoke and Mirrors, has opened in Las Vegas, marking a significant milestone for the state's cannabis industry. Located within Thrive Cannabis Marketplace, it's the first to pass the Nevada Cannabis Compliance Board inspection. This development is expected to boost Nevada's cannabis market, valued at $850 million, by attracting tourists, creating jobs, and increasing tax revenue. Planet 13 Holdings Inc. (PLNHF) has also announced plans to integrate a consumption lounge, indicating a growing trend. Other notable companies in Nevada's cannabis sector include AYR Wellness (AYRWF), Curaleaf Holdings (CURLF), and Green Thumb Industries (GTBIF).

Portfolio Pulse from Nicolás Jose Rodriguez

February 16, 2024 | 9:28 pm

LGBI

The SEC has taken action against fraudulent activities involving SHE Beverage Company, a cryptocurrency Ponzi scheme, and Cannabiz Mobile. SHE Beverage Company was ordered to pay over $12 million for a scam share scheme. The SEC is also investigating a crypto Ponzi scheme involving NovaTech, with subpoenas issued to Dapilinu Dunbar and Corrie Sampson. Additionally, a judgment was entered against Anthony Jay Pignatello for a share scam related to Cannabiz Mobile (OTC:LGBI), resulting in a payment of $43,337.

Portfolio Pulse from Neil Dennis

February 16, 2024 | 9:28 pm

QQQ

SPY

XLK

The S&P 500 and Nasdaq 100 ended their five-week winning streak due to higher-than-expected inflation reports, raising concerns about delayed Federal Reserve interest rate cuts. The Consumer Price Index and core inflation rates exceeded forecasts, while the Producer Price Index saw a monthly increase, leading to a rise in Treasury yields and negatively impacting markets, especially tech stocks.

Portfolio Pulse from Piero Cingari

February 16, 2024 | 9:20 pm

LFCR

Lifecore Biomedical announced it has received a Nasdaq delisting notice, which could significantly impact its stock presence and investor confidence.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 9:07 pm