Streetbeat News

Regulatory

EWU

The U.K.'s Gross Domestic Product (GDP) for Q3 has contracted by 0.1%, which is below the estimated 0.0% and the previous 0.2% growth. This indicates a slight economic downturn for the U.K. during the third quarter.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 7:21 am

NTES

TCEHY

China's regulators have issued new rules to curb spending in online games, impacting major gaming companies Tencent Holdings and NetEase. The rules set spending limits, ban daily login rewards, first-time spending rewards, and consecutive spending rewards. Tencent's shares dropped by 16%, while NetEase's plunged by 25%. The regulations also require game approvals within 60 days and mandate that servers be located in China. The gaming industry, which shrank in 2021, saw a 13% revenue increase to 303 billion yuan in 2022.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 7:20 am

EWU

U.K. business investment for Q3 has been reported at -3.2%, which is better than the estimated -4.2%, but still a decline from the previous quarter's revised figure of 1.4%.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 7:19 am

AZN

IONS

The US FDA has approved AstraZeneca and Ionis Pharmaceuticals' WAINUA™ for treating adults with polyneuropathy of hereditary transthyretin-mediated amyloidosis. The approval is based on positive Phase III NEURO-TTRansform study results, which showed that WAINUA consistently improved neuropathy impairment and quality of life. Additional regulatory reviews are in progress globally.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 6:35 am

Boeing Co. (NYSE:BA) has resumed direct deliveries of its 787 Dreamliner to China with the first delivery to Juneyao Airlines since November 2019. This event marks a significant step for Boeing, which has been working to ramp up production and deliveries of new jets, including the 737 Max, which deliveries to China were halted almost five years ago due to safety concerns. The resumption of deliveries follows Boeing's recent approval from China's aviation regulator to resume 737 MAX deliveries and a competitive deal with Thai Airways favoring the 787 over Airbus.

Portfolio Pulse from Benzinga Neuro

December 22, 2023 | 5:13 am

BBJP

DXJ

EWJ

Japan's National Core Consumer Price Index (CPI) for November came in at 2.5%, which was in line with estimates and lower than the previous value of 2.9%. This indicates a slight cooling in inflation.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 5:11 am

TSLA

Ford Motor Co (F) and General Motors Co (GM) will lose EV tax credits on certain vehicles from 2024 due to new U.S. treasury guidelines. GM's Cadillac Lyriq and Chevrolet Blazer EV will temporarily lose the $7,500 federal EV tax credit, while the Chevrolet Bolt EV remains eligible. Ford will lose tax credits for the E-Transit, Mustang Mach-E, and Lincoln Aviator Grand Touring plug-in hybrid. The F-150 Lightning and Lincoln Corsair Grand Touring will retain their credits. Tesla Inc's (TSLA) Model 3 variants will also not be eligible for tax credits starting next year.

Portfolio Pulse from Anan Ashraf

December 22, 2023 | 4:59 am

BTCUSD

El Salvador's Congress has passed a law allowing foreigners to gain expedited citizenship through Bitcoin donations for social and economic development projects. President Nayib Bukele, a Bitcoin advocate, labeled the bill a 'vital interest'. The law's details, including minimum donation requirements, are not specified. Additionally, El Salvador introduced the 'Adopting El Salvador Freedom Visa Program', targeting high-net-worth individuals with a $1 million investment in Bitcoin or Tether for a path to citizenship, aiming to bring $1 billion into the economy.

Portfolio Pulse from Mehab Qureshi

December 22, 2023 | 3:29 am

ALGOUSD

BONKUSD

BTCUSD

DOGEUSD

ETHUSD

NEARUSD

Cryptocurrencies surged after jobless claims data indicated a cooling economy. Bitcoin, Ethereum, and Dogecoin saw gains, with Bitcoin expected to reach $51K pre-ETF. U.S. GDP growth slowed to 4.9% in Q3. El Salvador passed a law for instant citizenship via Bitcoin donations. The global crypto market cap increased by 2.14%. U.S. stocks rebounded, with the Nasdaq and S&P 500 posting gains. Analysts predict a Bitcoin peak in January and a potential Ethereum rally to $3,500. Santiment warns of high Bitcoin supply in profit, suggesting caution, while highlighting $MATIC and $LTC as safer opportunities.

Portfolio Pulse from Mehab Qureshi

December 22, 2023 | 2:59 am

MARA

MULN

NKE

RIOT

TSLA

U.S. stocks were up with the Dow, S&P 500, and Nasdaq posting gains. Nike (NKE) fell in after-hours despite beating earnings due to revenue miss. Marathon Digital (MARA) surged on mining expansion and crypto optimism. Mullen Automotive (MULN) soared after vehicle delivery news and CARB certification. Riot Platforms (RIOT) increased modestly with Bitcoin's rise. Tesla (TSLA) rose despite potential safety issues in Norway.

Portfolio Pulse from Benzinga Neuro

December 22, 2023 | 2:05 am