Streetbeat News

Regulatory

SLM

SOFI

President Biden has extended the pause on federal student loan payments for 8 million borrowers under the SAVE plan for six months. This decision comes amid ongoing legal challenges from Republicans against the administration's student loan relief efforts.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 4:41 pm

BABA

BIDU

US-listed Chinese stocks are experiencing a decline as the market evaluates China's recent interest rate cut and stimulus measures.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 4:28 pm

BABA

Alibaba's stock is down 2.09% following China's interest rate cut, which has raised concerns about deeper economic issues. The rate cut, intended to stimulate growth, has instead sparked fears of a serious slowdown, impacting Alibaba due to its reliance on consumer demand and corporate investment. The company's performance is closely tied to China's economic health, and ongoing geopolitical tensions add further risk.

Portfolio Pulse from Henry Khederian

October 21, 2024 | 4:23 pm

VFF

Village Farms International, Inc. (NASDAQ:VFF) is facing a compliance challenge with Nasdaq due to its stock price falling below $1. The company has until April 16, 2025, to regain compliance by maintaining a stock price above $1 for 10 consecutive days. If unsuccessful, it may face delisting or appeal the decision. Despite this, Village Farms shows growth in cannabis sales and strategic positioning in key markets.

Portfolio Pulse from Jelena Martinovic

October 21, 2024 | 4:12 pm

ALK

A federal judge in Seattle has ordered Alaska Airlines to rehire a mechanic who was fired for testing positive for cannabis, highlighting the tension between state and federal laws. The court upheld an arbitration decision favoring the mechanic, emphasizing the evolving legal landscape of cannabis use.

Portfolio Pulse from Patricio Liddle

October 21, 2024 | 3:53 pm

AVA

The U.S. Department of Energy is granting $85.7 million to Avista and Idaho Power to reconstruct the Lolo-Oxbow transmission line, enhancing grid resilience and capacity. This project will improve power distribution, increase interregional capacity, and support job creation.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 3:31 pm

BTCUSD

ETHUSD

Digital asset investment products saw a significant inflow of $2.2 billion last week, driven by optimism over a potential Republican victory in the U.S. presidential election. Bitcoin was the main beneficiary, with $2.13 billion in inflows. The U.S. accounted for the majority of these inflows, while other regions saw minor outflows. The upcoming U.S. elections are expected to be crucial for regulatory clarity in the cryptocurrency market.

Portfolio Pulse from Murtuza Merchant

October 21, 2024 | 3:29 pm

BTCUSD

A European Central Bank report claims Bitcoin adoption benefits early investors at the expense of latecomers and non-holders, potentially harming societal stability. The report suggests non-holders should oppose Bitcoin and advocate for legislation against it, drawing criticism from crypto investors.

Portfolio Pulse from Murtuza Merchant

October 21, 2024 | 3:19 pm

DJT

Trump Media & Technology Group Corp (NASDAQ:DJT) faces whistleblower allegations against CEO Devin Nunes for outsourcing jobs, contradicting Trump's 'America First' message. Despite this, DJT stock has surged 143.46% in the past month, driven by speculation on Trump's electoral prospects. The stock's rise is notable given the company's lack of revenue, but potential regulatory scrutiny from the allegations could impact investor confidence.

Portfolio Pulse from Surbhi Jain

October 21, 2024 | 3:01 pm

AAPL

AMZN

GOOGL

IBM

MSFT

NVDA

RSP

Goldman Sachs warns of low long-term returns for the S&P 500 due to high market concentration, predicting only a 3% annual return over the next decade. Mega-cap companies like Apple, Microsoft, Amazon, Nvidia, and Alphabet drive this concentration. The equal-weighted S&P 500 index, tracked by the Invesco S&P 500 Equal Weighted ETF, may outperform the traditional index.

Portfolio Pulse from Piero Cingari

October 21, 2024 | 2:59 pm