Streetbeat News

Regulatory

NRAC

The proposed merger between Northern Revival Acquisition Corporation (NRAC) and Braiin Limited has moved forward with the filing of registration with the SEC. This step is crucial for the merger to proceed, indicating progress in the acquisition process.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 7:01 am

BTCUSD

Jim Cramer, host of CNBC's 'Mad Money', expressed skepticism about Bitcoin's recent price surge, suggesting it may be 'topping out' as the market anticipates a potential spot Bitcoin ETF approval. He advised investors to buy Bitcoin directly if they are interested in the cryptocurrency, rather than investing in related stocks or ETFs. Cramer has previously sold most of his Bitcoin holdings and has been critical of the SEC's regulatory approach to cryptocurrencies.

Portfolio Pulse from Mehab Qureshi

January 09, 2024 | 6:56 am

ACI

NVDA

PSMT

SMH

SNX

The CNN Money Fear and Greed index indicated improved market sentiment, remaining in the 'Greed' zone. The Nasdaq Composite had its best day since November 14, 2023, with tech stocks surging. The VanEck Semiconductor ETF (SMH) recorded a significant gain. Boeing (BA) shares dropped after safety issues with the 737 aircraft, while NVIDIA (NVDA) shares rose following the announcement of new GPUs. The S&P 500 and Dow Jones also closed higher. Investors are looking forward to earnings from PriceSmart (PSMT), Albertsons (ACI), and TD SYNNEX (SNX).

Portfolio Pulse from Avi Kapoor

January 09, 2024 | 6:42 am

CRNC

VWAGY

Volkswagen AG (OTC:VWAGY) announced plans to integrate OpenAI's ChatGPT, using Cerence Inc's (NASDAQ:CRNC) Chat Pro software, into its vehicles equipped with the IDA voice assistant. The feature will be available in European models such as the ID.7, ID.4, ID.5, ID.3, Tiguan, Passat, and Golf starting in the second quarter. Although not currently planned for U.S. models, Volkswagen is considering the integration. The AI chatbot will assist with general knowledge, infotainment, navigation, air conditioning, and reading aloud content, with a focus on data protection by deleting questions and answers immediately.

Portfolio Pulse from Anan Ashraf

January 09, 2024 | 5:45 am

EWA

Australia's Building Approvals for December showed a preliminary increase of 1.6% month-over-month, surpassing the estimated decline of -2.0%. This is an improvement from the revised prior figure of 7.2%.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 5:21 am

BBJP

DXJ

EWJ

Japan's Tokyo Core Consumer Price Index (CPI) for November came in at 2.1%, aligning with estimates and showing a slight decrease from the previous 2.3%. This data is a key indicator of inflation in Tokyo and can influence investor sentiment regarding Japanese markets.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 5:17 am

BTCUSD

ETHUSD

Bitcoin's surge past $46,000 led to over $160M in short position liquidations, with the Fear & Greed Index indicating 'Extreme Greed'. Ethereum shorts also faced significant losses. Analyst Jamie Coutts suggests Bitcoin's fundamentals, including network activity, support its value despite being below peak levels. The SEC warns against FOMO-driven investments ahead of an anticipated ETF approval.

Portfolio Pulse from Mehab Qureshi

January 09, 2024 | 4:29 am

BLK

FNF

Former SEC Chair Jay Clayton believes that the approval of a spot Bitcoin ETF by the SEC is inevitable, citing improved market dynamics and satisfactory disclosures from companies like BlackRock and Fidelity. Bloomberg ETF analyst James Seyffart predicts a 90% chance of approval by Jan. 10, which could significantly impact the cryptocurrency industry by allowing traditional investors to gain Bitcoin exposure.

Portfolio Pulse from Mehab Qureshi

January 09, 2024 | 3:25 am

BLK

Major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE), experienced significant gains as the market anticipates the approval of the first spot-based Bitcoin ETFs in the U.S. Asset management firms like BlackRock, Fidelity, and Grayscale have updated their S-1 filings with the SEC, revealing their fee structures. Bitwise offers the lowest fee at 0.24%, while BlackRock set its fee at 0.30%. The global cryptocurrency market cap slightly declined, while stock averages increased, with the S&P 500 and Nasdaq Composite rising. Analysts predict a bullish cycle for Bitcoin, with the upcoming ETF approval and the Bitcoin Halving event serving as potential catalysts.

Portfolio Pulse from Mehab Qureshi

January 09, 2024 | 2:42 am

ALK

UAL

United Airlines Holdings Inc (NASDAQ:UAL) has discovered loose bolts on several grounded Boeing 737 MAX 9 airplanes, raising concerns about Boeing Co's (NYSE:BA) manufacturing processes. The issue came to light after an incident with an Alaska Airlines (NYSE:ALK) MAX 9 plane, leading to the grounding of 171 aircraft. Boeing's shares fell by 8% following the news. The FAA has authorized inspections, and Boeing has expressed its commitment to safety and support for the ongoing investigation.

Portfolio Pulse from Benzinga Neuro

January 09, 2024 | 12:50 am