Streetbeat News

Regulatory

SPY

Fed member Goolsbee stated that the Federal Reserve cannot decide on its actions for the March meeting without evaluating incoming data. The Fed will assess the level of policy restrictiveness needed as inflation rates decrease.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 8:42 pm

SPY

Fed member Goolsbee indicates that inflation data will be the key factor in determining the timing and magnitude of any interest rate cuts. He emphasizes the importance of not committing to policy decisions prematurely, as the Fed awaits more data in the coming weeks and months.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 8:41 pm

SPY

Fed's Goolsbee states that the Federal Reserve is on a comfortable path and making progress on inflation. His view on the Federal Funds Rate is not the lowest among Fed policymakers' projections but is closer to the median.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 8:40 pm

Shares of AT&T and Verizon are trading lower after a Wall Street Journal report indicated that the Environmental Protection Agency (EPA) has reached out to telecom companies to discuss concerns about lead-sheathed cables. The EPA's request for meetings with these companies could imply potential regulatory scrutiny or required changes in infrastructure, which may have financial implications for the involved firms.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 8:30 pm

ASML

MSFT

NVDA

ASML Holding N.V. (ASML) has halted shipments of high-end lithography machines to China, following U.S. directives. China's Commerce Minister expressed grave concerns over U.S. pressure on ASML and potential tariffs on Chinese chips. The U.S. is assessing reliance on Chinese chips and considering tariffs to protect against military use. Huawei's launch of a handset with an advanced chip despite sanctions raised U.S. security concerns. Microsoft Corp (MSFT) linked a cyberattack on U.S. Commerce Secretary Raimondo's email to China. Nvidia Corp (NVDA) faces challenges in China due to U.S. export controls, with Chinese companies potentially reducing orders for high-end AI chips from Nvidia by 50%-60% in five years. ASML's stock saw a slight decrease.

Portfolio Pulse from Anusuya Lahiri

January 11, 2024 | 8:25 pm

AMZN

BABA

GOOG

GOOGL

MSFT

SPY

Google has eliminated fees for customers migrating from Google Cloud to competitors like Amazon or Microsoft, a move that could prompt similar actions from these companies. This change comes amid regulatory scrutiny over switching penalties. Google's VP, Amit Zavery, noted that while these fees are a small part of total costs, they are a regulatory and customer concern. Google also aims to shift regulatory focus to Microsoft's practices that limit customers' ability to use Google Cloud. Google recently announced layoffs in its hardware and digital assistant teams and is reallocating resources to focus on priority investments. Additionally, Google is testing limits on cookie usage in Chrome, impacting the online advertising industry. Last year, Google's stock outperformed the SPDR S&P 500 ETF, Amazon, and Microsoft.

Portfolio Pulse from Anusuya Lahiri

January 11, 2024 | 8:21 pm

AMZN

GOOG

MSFT

NVDA

Nvidia Corp has secured a $1 billion deal with Indian data center operator Yotta to supply nearly 16,000 AI chips, including the H100 and GH200 models. This deal is crucial for Nvidia as it faces U.S. export restrictions affecting chip sales to China. Nvidia's expansion in India is supported by partnerships with major Indian conglomerates and the growing demand for AI infrastructure in the region. The deal is expected to boost Nvidia's presence in India, where the AI market is projected to reach $14 billion by 2030. Other tech giants like Microsoft, Alphabet's Google, and Amazon are also expanding their cloud and data center investments in India.

Portfolio Pulse from Anusuya Lahiri

January 11, 2024 | 8:18 pm

NFT Ltd has entered into a securities purchase agreement with certain non-U.S. persons on January 10, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 7:35 pm

ACI

A Kroger spokesperson commented on reports that Washington State plans to sue to block the proposed merger with Albertsons, stating that any attempt to enjoin the transaction at this stage would be premature. The deal has been under scrutiny due to concerns about reduced competition and potential negative impacts on consumers.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 7:31 pm

GBTC

Grayscale Investments, led by CEO Michael Sonnenshein, intends to file for a covered call ETF that will allow investors to earn income from options on its Grayscale Bitcoin Trust (GBTC).

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 7:26 pm