Streetbeat News

Regulatory

SPY

The Federal Open Market Committee (FOMC) has reiterated its strong commitment to bringing inflation back to its 2% target. This statement underscores the FOMC's ongoing focus on inflation control, which may involve continuing the current trend of interest rate hikes to manage economic growth and price stability.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 7:04 pm

SPY

The Federal Reserve has released its latest monetary policy statement, detailing decisions on interest rates. While the statement itself does not mention specific companies or ETFs, it is a critical piece of information that can influence the entire market. The SPDR S&P 500 ETF Trust (SPY) is often used as a proxy for the broader market and can be impacted by changes in Fed policy.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 7:01 pm

DIA

IWM

QQQ

SPY

The Federal Reserve has decided to leave the key overnight policy rate unchanged. This decision is likely to influence the broader market and specific ETFs that track major indices.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 7:00 pm

AMD

CNXA

MINM

NVVE

NYCB

POWL

Advanced Micro Devices, Inc. (AMD) shares fell 3.8% to $165.49 post Q4 earnings report, with non-GAAP EPS of $0.77 on $6.17 billion revenue. Other stocks showed significant movement: Connexa Sports Technologies Inc. (CNXA) regained Nasdaq compliance, surging 204%; Minim, Inc. (MINM) rose 76.4% after a stake disclosure; Powell Industries, Inc. (POWL) gained 49% on strong Q1 results and dividend raise. Notable losers included Nuvve Holding Corp. (NVVE) dropping 65.8% after a public offering announcement, and New York Community Bancorp, Inc. (NYCB) falling 34.5% on disappointing Q4 results and dividend cut.

Portfolio Pulse from Avi Kapoor

January 31, 2024 | 6:18 pm

AOUT

RGR

SWBI

A US judge has blocked a California law that mandated background checks for ammunition purchases. The law, which was one of the strictest gun control measures in the country, faced legal challenges that culminated in this recent ruling. The decision is seen as a significant setback for gun control advocates and a victory for gun rights supporters.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 6:06 pm

ETH-USD

On Tuesday, 5,679.23 Ether (ETH) valued at approximately $13.3 million was burned as part of the Ethereum network's transaction process. This is a result of the EIP-1159 upgrade implemented on August 5th, 2021, which introduced a variable base fee for transactions that is permanently removed from circulation. The current annual issuance rate of new Ether is 4%, but with the upcoming Ethereum 2.0 upgrade, it is expected to drop to 0.5-1%, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -5.24% yesterday, according to Glassnode.

Portfolio Pulse from Benzinga Insights

January 31, 2024 | 6:00 pm

Boeing has disclosed that the U.S. Justice Department is evaluating if the company has met its obligations under the 2021 Deferred Prosecution Agreement. This agreement was related to the investigation of the 737 MAX crashes.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 5:58 pm

CNXA

Connexa Sports Technologies Inc. (NASDAQ:CNXA) shares surged after the company announced regaining compliance with Nasdaq's minimum shareholder equity rule. This was achieved through a $16.5 million investment from three non-US investors. The investment involved the sale of common stock and pre-funded warrants at $0.20 per share. CEO Mike Ballardie welcomed the new investors and highlighted the importance of meeting Nasdaq's compliance requirements.

Portfolio Pulse from Erica Kollmann

January 31, 2024 | 5:53 pm

COP

CVX

USO

XOM

Oil prices have risen in early 2024 due to escalating tensions in the Middle East and Red Sea regions, with Nymex WTI up nearly 8% and Brent crude up 6%. The United States Oil Fund (USO) has seen a 9.2% increase. Despite conflicts and attacks on shipping, oil prices had previously fallen due to weak demand and sufficient supply. Iran's tensions with the U.S. and its involvement in Red Sea shipping attacks pose risks to oil flows. Saudi Aramco is planning a share sale to raise at least $10 billion, following a halt in oil expansion plans. Shares of ExxonMobil, Chevron, and ConocoPhillips fell on Wednesday.

Portfolio Pulse from Neil Dennis

January 31, 2024 | 5:51 pm

AMD

GOOGL

KRE

NYCB

TLT

Ahead of the FOMC meeting, the Nasdaq 100 and S&P 500 fell due to disappointing earnings from tech companies like Alphabet and AMD. The ADP National Employment Report showed slower job growth, and the VIX rose. Treasury yields fell, boosting the iShares 20+ Year Treasury Bond ETF. The SPDR S&P Regional Banking ETF dropped after New York Community Bancorp reported a loss. Other stocks moved on earnings reports, with Boeing rallying on strong results.

Portfolio Pulse from Piero Cingari

January 31, 2024 | 5:45 pm