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SPY

U.S. Treasury Secretary Janet Yellen expressed that it would be beneficial to have lithium mining in the U.S. if done in an environmentally appropriate manner. She also noted that the labor market is at full employment and the economy continues to grow.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 6:24 pm

DOCU

DocuSign has received StateRAMP authorization, which allows state and local governments to securely manage agreements. This authorization signifies that DocuSign meets high security standards required for government use.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 6:14 pm

AAPL

The UK's Court of Appeal has ruled in favor of the Competition and Markets Authority (CMA), allowing it to proceed with a market investigation into mobile browsers and cloud gaming. This decision overturns a previous ruling that had halted the investigation, which could have implications for companies involved in these sectors, including Apple.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 6:06 pm

BRPHF

Michael Novogratz, CEO of Galaxy Digital Holdings Ltd. (OTC:BRPHF), is optimistic about Bitcoin (CRYPTO: BTC) reaching its all-time highs within the next year, driven by the potential SEC approval of the first American Bitcoin ETF. Bitcoin's resilience is noted despite past volatility, and the approval could lead to a significant capital influx into the ETF market. Novogratz also sees the upcoming election year as a potential boost for digital assets.

Portfolio Pulse from Murtuza Merchant

November 30, 2023 | 6:05 pm

ETHUSD

On Wednesday, 8,153.51 Ether (ETH) valued at $16.6 million 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% per year, expected to drop to 0.5-1% with Ethereum 2.0, potentially making ETH deflationary. The net annualized issuance rate for Ether was -9.50% yesterday, according to Glassnode.

Portfolio Pulse from Benzinga Insights

November 30, 2023 | 6:00 pm

USO

OPEC+ has announced voluntary oil output cuts totaling 2.19 million barrels per day (BPD), according to Reuters estimates. This decision could potentially affect global oil supply and prices.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 5:54 pm

BTCUSD

ETHUSD

Fasset FZE, a digital asset brokerage, has obtained a Virtual Asset Service Provider (VASP) license from Dubai's Virtual Asset Regulatory Authority (VARA), allowing it to offer broker-dealer services for virtual assets like Bitcoin and Ethereum. The company, backed by Investcorp, plans to launch a beta version of its services next month and a full rollout in January 2024. Fasset aims to provide access to digital assets in emerging markets and is working with the UAE Prime Minister’s Office on crypto regulation. The license and Investcorp's investment reflect growing institutional interest in blockchain technology in the Middle East.

Portfolio Pulse from Murtuza Merchant

November 30, 2023 | 5:46 pm

SPY

XLB

XLC

XLE

XLF

XLI

XLK

XLP

XLRE

XLU

XLV

XLY

JPMorgan analysts project an 8% drop in the S&P 500 for 2024, forecasting the SPDR S&P 500 ETF Trust (SPY) to trade at pre-summer highs or October 2023 lows. The bearish outlook is based on high valuations, an aging business cycle, restrictive monetary policy, and geopolitical risks. The bank warns of a potential 30% fall in EPS during the next economic slowdown and advises sectoral shifts, recommending overweight positions in energy, consumer staples, healthcare, and utilities, while suggesting neutral or underweight positions for other sectors.

Portfolio Pulse from Piero Cingari

November 30, 2023 | 5:44 pm

GEO

The U.S. Department of Labor's OSHA cited GEO Group Inc. for failing to provide a safe workplace after a nurse was attacked by an inmate at South Bay Correctional and Rehabilitation Facility. The nurse suffered a facial fracture from the attack. GEO Group was fined $26,787 for serious and other-than-serious violations, including not reporting the incident within 24 hours. The company has a history of a settlement with OSHA over workplace violence and operates 102 facilities nationwide.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 5:40 pm

DIA

QQQ

SPY

TLT

XLC

XLF

XLY

The October Personal Consumption Expenditure (PCE) price index showed a slowdown in inflation, aligning with economist expectations and signaling a potential end to the rate hike cycle. The market reacted with mixed movements: SPY slightly down, QQQ down more significantly, DIA up, while TLT, XLC, and XLY fell. Financials outperformed with XLF rising.

Portfolio Pulse from Piero Cingari

November 30, 2023 | 5:21 pm