Streetbeat News

Regulatory

AAPL

META

MSFT

SPOT

Meta Platforms Inc. (META), Microsoft Corp. (MSFT), Spotify Technology SA (SPOT), and Epic Games criticize Apple Inc.'s (AAPL) Alternative App Store proposal for the EU, citing high costs and non-compliance with the EU's Digital Markets Act. Zuckerberg, alongside other tech leaders, believes the proposal is at odds with the intent of EU regulation and burdensome for developers.

Portfolio Pulse from Rounak Jain

February 02, 2024 | 11:01 am

TSLA

Tesla is initiating a recall for some of its Cybertruck vehicles due to the incorrect font size used on warning lights, as reported by Reuters citing the National Highway Traffic Safety Administration (NHTSA).

Portfolio Pulse from Charles Gross

February 02, 2024 | 10:45 am

TSLA

Tesla is conducting a recall of 2,193,869 vehicles in the United States, as reported by Reuters citing the National Highway Traffic Safety Administration (NHTSA).

Portfolio Pulse from Charles Gross

February 02, 2024 | 10:25 am

GOOGL

Google's AI language model, Bard, now supports over 40 languages and is available in 230 countries with new features including image generation. Recognized as a top-performing AI by the Large Model Systems Organization, Bard's expansion and new capabilities like the enhanced double-check feature and responsible image generation aim to increase accessibility and collaboration globally. This development is crucial as Google faces a $7 billion lawsuit over AI technology patent infringement, which could significantly affect its AI advancements.

Portfolio Pulse from Benzinga Neuro

February 02, 2024 | 9:53 am

NPSCY

Japan is intensifying efforts to communicate its concerns to Donald Trump regarding potential agreements with China that could destabilize Asia. This includes diplomatic dialogues and attempts to arrange meetings with Trump, who has indicated he would block the $14.9 billion acquisition of United States Steel Corporation by Japan's Nippon Steel Corp if re-elected. Japan's worries include possible trade or security agreements with China, weakening U.S. support for Taiwan, and the re-imposition of protectionist trade measures.

Portfolio Pulse from Benzinga Neuro

February 02, 2024 | 9:30 am

AAPL

AMZN

HON

MRK

U.S. stocks closed higher with the Dow Jones gaining over 350 points, influenced by positive earnings reports and economic data. Merck & Co and Amazon reported strong financial results, while Honeywell International faced a decline. The Fed maintained interest rates, and economic indicators like jobless claims and manufacturing PMI showed mixed results. Energy stocks underperformed despite overall market gains.

Portfolio Pulse from Avi Kapoor

February 02, 2024 | 8:26 am

ARKB

FBTC

KRE

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin are trading higher amid fears of U.S. regional banking instability. The SPDR S&P Regional Banking ETF fell 3.12%, reflecting concerns over increased regulatory scrutiny for regional banks. Analysts predict a potential market peak for Bitcoin by October 2025, following historical trends of post-halving rallies. Cathie Wood of Ark Invest highlighted crypto assets' appreciation during banking crises as a hedge against fiat assets. Bitcoin ETFs, including ARKB and FBTC, continue to see significant volume despite recent market corrections.

Portfolio Pulse from Shivdeep Dhaliwal

February 02, 2024 | 6:28 am

EWA

Australia's Producer Price Index (PPI) for the quarter increased by 0.9%, which is lower than the estimated 1.9% and the previous quarter's 1.8%. This indicates a slowdown in the growth of prices at the producer level in Australia.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 5:36 am

BTCUSD

DOGEUSD

ETHUSD

Sen. Cynthia Lummis (R-Wyo.) expressed optimism about the passage of U.S. stablecoin legislation within the first half of 2024, highlighting ongoing bipartisan discussions. The legislation aims to regulate stablecoins like USDT and USDC, crucial for crypto market transactions. Despite challenges in reaching consensus, advancements such as the SEC's approval of spot bitcoin ETFs bolster the case for legislation. Lummis, a pro-crypto advocate, has been actively pushing for crypto-related bills and statements.

Portfolio Pulse from Benzinga Neuro

February 02, 2024 | 3:56 am

BTC-USD

DOGE-USD

ETH-USD

Aliaksandr Klimenka, associated with the defunct BTC-e cryptocurrency exchange, has been arrested and charged by the U.S. DOJ for laundering over $4 billion from criminal activities. His arrest in Latvia and subsequent charges highlight a broader crackdown on illegal cryptocurrency activities, including efforts by U.S. Senator Elizabeth Warren and international actions like Taiwan's new anti-money laundering bill.

Portfolio Pulse from Benzinga Neuro

February 02, 2024 | 3:47 am