Streetbeat News

Regulatory

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

SPY

Fed's Barkin has stated that he will not prejudge the outcome of the March FOMC meeting or other future meetings. He also mentioned that inflation expectations do not seem elevated at this point, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 7:23 pm

SPY

Fed's Barkin has noted encouraging progress in the goods sector, suggesting it may continue. He also mentioned that some service sector businesses have discovered pricing power, which they are likely to maintain until faced with consumer or competitor pushback.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 7:23 pm

SPY

White House's Lael Brainard has stated that the administration has proposed initiatives aimed at assisting first-time homebuyers. No specific details on the proposals or their potential impact on the housing market were provided in the article.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 6:48 pm

CAN

CMND

FFNW

OPI

PLUG

SDIG

TGAN

TTGT

TechTarget, Inc. (TTGT) shares rose by 14.4% after announcing a strategic combination with Informa Tech's digital businesses. Other stocks experienced significant movements in Thursday's mid-day session, with various companies reporting acquisitions, financial results, and other business updates. Notably, First Financial Northwest, Inc. (FFNW) surged 53% due to an acquisition announcement, and Transphorm, Inc. (TGAN) jumped 25.3% after a buyout offer. Crypto-related stocks like Canaan Inc. (CAN) and Stronghold Digital Mining, Inc. (SDIG) also rose after the SEC approved the listing and trading of spot Bitcoin ETFs. Conversely, several companies saw their shares fall, such as Clearmind Medicine Inc. (CMND), Office Properties Income Trust (OPI), and Plug Power Inc. (PLUG), which was downgraded by an analyst.

Portfolio Pulse from Avi Kapoor

January 11, 2024 | 6:32 pm

SPY

Richmond Fed President Barkin states that evidence is needed to show inflation is moving towards the target. He notes that inflation improvement is mainly in goods, suggesting banks may prefer more liquidity post-pandemic.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 6:16 pm

ETHUSD

On Wednesday, 8,122.32 Ether (ETH) valued at $21.1M was burned, permanently removing it from circulation. This is a result of the EIP-1159 upgrade implemented on August 5, 2021, which introduced a variable base fee for transactions that is burned. The current issuance rate of new Ether is 4% annually, expected to drop to 0.5-1% with Ethereum 2.0, potentially making ETH deflationary. The net annualized issuance rate for Ether was -9.32% yesterday.

Portfolio Pulse from Benzinga Insights

January 11, 2024 | 6:00 pm

ARGT

BMA

MELI

TEO

Argentina's inflation rate hit around 200% in 2023, with food prices rising significantly. The new president, Javier Milei, has been in office for a month and warns that it may take time to reduce inflation, which some economists predict could reach 500% this year. Milei's strategy includes cutting government spending and subsidies, which some experts fear may initially lead to higher consumer prices. Despite Argentina's economic challenges, the Global X ETF's MSCI Argentina ETF (ARGT) is up nearly 10% over the past six months, and MercadoLibre Inc (MELI) is trading higher. However, Telecom Argentina SA (TEO) and Banco Macro SA ADR (BMA) have seen declines in the last month.

Portfolio Pulse from Aaron Bry

January 11, 2024 | 6:00 pm

ACI

KR

The Federal Trade Commission (FTC) is not expected to make a decision on the proposed merger between Kroger (KR) and Albertsons (ACI) until February. The delay in the regulatory review process means that stakeholders will have to wait to see if the FTC will challenge the merger of these two supermarket giants.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 5:55 pm