Streetbeat News

Regulatory

META

Sen. Josh Hawley and Congressman Mike Gallagher are calling for a ban on TikTok, citing its pro-Palestinian and anti-Israeli content. The New York Times reported higher engagement for #FreePalestine than Israeli hashtags on TikTok since an attack by Hamas on Oct. 7. Gallagher suggested China might be influencing content to favor Palestine, but no evidence was provided. The article also explores reasons for TikTok's user base leaning pro-Palestinian, including its young demographic and the app's absence in India, an ally of Israel. Meta Platforms' Instagram and Twitter see more pro-Israel content from Indian users, unlike TikTok.

Portfolio Pulse from Aaron Bry

November 10, 2023 | 9:57 pm

BA

LUV

A Southwest Airlines executive has stated that the company is working with the assumption that Boeing's 737 Max 7 plane will be certified by April 2024, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 9:43 pm

AAPL

AMAT

AMZN

BLK

CSCO

DIS

GOOG

HD

META

MSFT

NVDA

TSLA

WMT

XLE

Tech giants led by the 'Magnificent 7' drove the Nasdaq 100 to outperform other indices, with Microsoft reaching new all-time highs. The Dow's blue-chip stocks stalled, and small caps fell. Energy sector lagged, while Bitcoin's market cap surpassed Tesla's. BlackRock showed interest in an Ethereum ETF. Fed Chair Powell's hawkish speech snapped the stock market's winning streak. Disney's Q3 results were mixed but received a positive rating from Morgan Stanley. Upcoming economic reports and earnings from Home Depot, Cisco, Walmart, and Applied Materials are on the watchlist.

Portfolio Pulse from Piero Cingari

November 10, 2023 | 9:23 pm

UBS

UBS has enabled its wealthy clients in Hong Kong, with over $2 million in investable assets, to invest in cryptocurrency ETFs. This move aligns with China's steps towards adopting web3. HSBC and SEBA Bank have also allowed crypto-linked ETF trading in Hong Kong, while DBS Group plans to apply for a license to offer crypto services. Three U.S.-authorized crypto ETFs will be available to clients starting Nov. 10, including Samsung Bitcoin Futures Active, CSOP Bitcoin Futures, and CSOP Ether Futures ETFs. Hong Kong's regulatory regime allows trading of major tokens on licensed exchanges and is considering retail access to spot ETFs. The JPEX exchange is under scrutiny for a $166 million scandal, prompting increased regulatory vigilance. UBS is also collaborating with the Swiss National Bank on a CBDC pilot.

Portfolio Pulse from Khyathi Dalal

November 10, 2023 | 9:03 pm

NCNA

NuCana plc (NASDAQ:NCNA) has transferred its listing from the Nasdaq Global Select Market to the Nasdaq Capital Market effective November 9, 2023. The transfer was approved based on meeting the market value of publicly held shares requirement and other criteria, except for the minimum bid price. NuCana's ADSs continue to trade under the ticker symbol 'NCNA'. Nasdaq has granted NuCana an additional 180 days to comply with the minimum bid price requirement of $1.00 per ADS.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 9:01 pm

BYD

DIS

MGM

PDYPF

The Detroit Casino Council is urging the public to boycott four sports betting and online casino platforms associated with three casinos where workers are on strike. The platforms targeted for the boycott are FanDuel, ESPN Bet (soon to be launched), Hollywood iCasino, and BetMGM.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 8:54 pm

ETCUSD

Ethereum Classic (CRYPTO: ETC) has experienced a 5% drop to $20.39 amid general cryptocurrency market volatility. This volatility is partly due to rising optimism about the SEC potentially approving a Bitcoin ETF, with Bloomberg suggesting a 90% chance of approval by January 10, 2024. Regulatory decisions on a Bitcoin ETF are significant for cryptocurrencies like Ethereum Classic, as they can lead to increased liquidity and market depth, as well as heightened price sensitivity to trades.

Portfolio Pulse from Henry Khederian

November 10, 2023 | 8:32 pm

BTCUSD

DOGEUSD

ETHUSD

Bitcoin (BTC) reclaimed the $37,000 level, with a 2% increase, as anticipation grows for a potential U.S. SEC approval of a spot Bitcoin ETF. Ethereum (ETH) outperformed Bitcoin with a 13% surge, while both cryptocurrencies showed signs of consolidation. Dogecoin (DOGE) remained stable, trading sideways above its 200-day SMA. Technical analysis suggests bullish patterns for Bitcoin and Ethereum, with potential golden crosses forming. Dogecoin's consolidation could lead to a breakout if followed by high bullish volume.

Portfolio Pulse from Melanie Schaffer

November 10, 2023 | 8:32 pm

FXI

SPY

Treasury Secretary Yellen reports significant progress in U.S.-China relations since the Biden-Xi meeting in November 2022, citing 'candid, direct and productive' engagement with China's He.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 8:10 pm

CYBN

Cybin Inc. (NYSE:CYBN), a clinical-stage psychedelics biotech company, has launched a new underwritten offering of 66.66 million units at $0.45 each to institutional shareholders, aiming to raise up to $64 million. The offering includes common shares and warrants exercisable at $0.51. The proceeds will fund Cybin's CYB003 and deuterated DMT programs and for general corporate purposes. Cybin also suspended a previous funding agreement with Lincoln Park Capital Fund (LPC), effective immediately.

Portfolio Pulse from Lara Goldstein

November 10, 2023 | 7:58 pm