Streetbeat News

Regulatory

Ford's CFO, at the Barclays conference, indicated that the Inflation Reduction Act is generating significant demand from commercial customers. This suggests a positive outlook for Ford's commercial vehicle sales, potentially leading to increased revenue and profitability in the short term.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 3:22 pm

CRM

DJIA

QQQ

SNOW

SNPS

SPY

The Personal Consumption Expenditures (PCE) data, a key inflation gauge for the Fed, came in line with expectations, disappointing both market bulls and bears who were expecting a different outcome to influence market direction. Positive earnings from Salesforce, Snowflake, and Synopsys, all benefiting from AI, have lifted the stock market. Eurozone inflation fell more than expected, while China's PMI data suggests economic weakening. Early trade money flows are positive for several tech giants but negative for Amazon. The SPDR S&P 500 ETF Trust and Invesco QQQ Trust Series 1 are also seeing positive money flows. The Arora Report advises investors to maintain a balance between cash, hedges, and investments to protect and participate in market upside.

Portfolio Pulse from The Arora Report

November 30, 2023 | 3:21 pm

AAPL

DIS

Meta Platforms Inc.'s (NASDAQ:FB) social media platform Threads is set to launch in the EU this December after a successful launch in other markets in July. The EU launch was delayed due to strict online service regulations, but Threads will comply by offering a consumption-only option without the need for a personal profile. Adam Mosseri, head of Instagram, announced a feature for users to delete or deactivate their Threads profile. Meta's CEO, Mark Zuckerberg, reported Threads has nearly 100 million monthly users. The EU expansion is timely as advertisers like Apple Inc. (NASDAQ:AAPL) and Disney (NYSE:DIS) have paused spending on rival platform X after Elon Musk's remarks.

Portfolio Pulse from Benzinga Neuro

November 30, 2023 | 3:13 pm

BAC

The Financial Industry Regulatory Authority (FINRA) has fined a Bank of America unit $24 million for engaging in Treasuries spoofing and for related supervisory failures.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 3:10 pm

USO

OPEC+ ministers have commenced a meeting to discuss the oil output levels for the year 2024. The outcome of this meeting is expected to influence global oil supply and potentially affect oil prices.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 3:03 pm

BAM

BLK

TPG

The UAE is set to launch a $30bn climate investment fund in collaboration with BlackRock, TPG, and Brookfield during COP28. Lunate Capital, a new Abu Dhabi-based asset manager, will oversee the fund, with $5bn dedicated to investments in the Global South. The initiative is part of the UAE's efforts to position itself as a leader in climate finance and to address scrutiny over its role as a major oil and gas producer hosting the climate summit. The fund aligns with global financial needs for transitioning to green energy and adapting to climate change, as outlined by the UN and the International Energy Agency.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 2:52 pm

AGRI

IMGN

MINM

POET

RDHL

VVOS

U.S. stocks traded mostly higher with the Dow Jones gaining around 200 points. Energy shares rose by 1.5%, while consumer discretionary shares fell by 0.4%. Core PCE inflation in the U.S. was flat month-over-month in October, with annual core PCE inflation easing to 3.5% from 3.7%. Minim Inc (MINM) shares surged 877% after a previous day's gain. ImmunoGen, Inc. (IMGN) shares rose 82% following news of its acquisition by AbbVie. Vivos Therapeutics (VVOS) shares dropped 32% despite recent FDA clearance, and RedHill Biopharma (RDHL) fell 29% after a previous day's gain.

Portfolio Pulse from Lisa Levin

November 30, 2023 | 2:42 pm

AAPL

AMKR

Amkor Technology Inc (NASDAQ:AMKR) announced plans to build an advanced facility for packaging and testing chips, primarily for Apple Inc (NASDAQ:AAPL). The $2 billion investment aims to strengthen the US semiconductor supply chain, with Apple being the first major customer. Amkor's new facility will be located in Arizona, close to TSMC's fab, and the company has applied for CHIPS funding. Following the announcement, AMKR shares rose by 2.89%.

Portfolio Pulse from Adam Eckert

November 30, 2023 | 2:41 pm

SPY

Federal Reserve Bank of New York President John Williams stated that he would not speculate on the specific conditions that might prompt the Federal Reserve to cut interest rates. His comments suggest a cautious approach to monetary policy, with a focus on observing economic data before making any decisions on rate adjustments.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 2:35 pm

SPY

Federal Reserve Bank of New York President John Williams commented on the high sensitivity of bond yields to new economic data, suggesting that investors are closely watching for signs that could indicate the future direction of interest rates and monetary policy. This observation reflects the market's attentiveness to the Fed's actions and economic indicators, which can influence investment decisions and asset prices, particularly in the fixed income market.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 2:35 pm