Streetbeat News

Regulatory

SPY

In a CNBC interview, Fed's Daly commented on the current bond market volatility, stating it was not surprising given the uncertain economic outlook. Daly noted that financial conditions have tightened and are staying tight, which is aiding in restoring balance to the economy.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 6:11 pm

SPY

Fed's Daly commented that current Fed policy is significantly restrictive but expressed uncertainty if it is restrictive enough. She emphasized the need to observe data to guide the next rate decision and mentioned that the Fed might already be in a good place regarding policy.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 6:06 pm

SPY

Fed's Daly stated in a CNBC interview that the current monetary policy is well-positioned, with balanced risks of overtightening and undertightening. Daly noted that recent inflation data has been positive but cautioned it's too soon to claim victory over inflation and refrained from predicting the Fed's next move.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 6:05 pm

ETHUSD

On Thursday, 10,709.53 Ether (ETH) valued at $22.4 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% annually, expected to drop to 0.5-1% with Ethereum 2.0, potentially making ETH deflationary. The net annualized issuance rate for Ether was -13.73% yesterday, according to Glassnode.

Portfolio Pulse from Benzinga Insights

November 10, 2023 | 6:00 pm

ATVI

EA

MSFT

UBSFF

A lawsuit filed in Arkansas accuses Microsoft (MSFT), Electronic Arts (EA), Activision Blizzard (ATVI), Ubisoft (UBSFF), and Epic Games of enabling video game addiction to maximize profits. The suit, filed by a mother on behalf of her child, alleges the companies engaged in practices to get consumers addicted, including the use of loot boxes and pay-to-win transactions. The child spent $3,000 on in-game transactions, and the lawsuit seeks damages for injuries, economic loss, and legal fees. The case highlights industry practices and could have implications for the video game industry's monetization strategies.

Portfolio Pulse from Franca Quarneti

November 10, 2023 | 5:57 pm

PEPEUSD

SOLUSD

Analyst Bluntz predicts a 'rage pump' for altcoins, particularly Pepe Coin (PEPE) with a potential 30% increase, and Solana (SOL) after FTX's sell-offs. BlackRock's Ethereum ETF plan and a shopping spree in Ethereum-based altcoins indicate growing digital asset optimism. These topics will be discussed at Benzinga's Future of Digital Assets conference.

Portfolio Pulse from Murtuza Merchant

November 10, 2023 | 5:41 pm

BKNG

Booking.com has agreed to pay €94 million to settle a tax dispute in Italy, according to a statement from prosecutors. The settlement resolves a disagreement over taxes the travel website was alleged to owe in the country.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 5:24 pm

MOTS

Motus GI Holdings, Inc. (NASDAQ:MOTS) announced the successful use of its Pure-Vu EVS Gastro system in the first procedure since its FDA clearance in late October 2023. Dr. Brian Hanson of the University of Minnesota completed the procedure, praising the product's performance and ease of setup. The Pure-Vu EVS Gastro targets blood and debris in the upper GI tract, expanding the company's market to upper GI patients. Despite the positive news, MOTS shares dropped by 1.82% to $3.48.

Portfolio Pulse from Nabaparna Bhattacharya

November 10, 2023 | 5:05 pm

BTCUSD

CME

Analyst Cory Mitchell predicts an 88% increase in Bitcoin's value, potentially reaching over $69,000 by mid-2024. This forecast is based on historical uptrends and current market dynamics, despite recent industry challenges. The growth is partly attributed to the anticipation of regulated Bitcoin ETFs in the U.S. and increased institutional interest, as evidenced by Bitcoin futures trading volumes on the CME surpassing those of Binance. The upcoming Benzinga's Future of Digital Assets conference will discuss these market trends.

Portfolio Pulse from Murtuza Merchant

November 10, 2023 | 3:55 pm

BTCUSD

Matt Kunke, a research analyst at GSR Markets, highlights the potential of a US spot Bitcoin ETF, emphasizing its significance due to the size of the US capital markets. He points out the advantages over Bitcoin futures ETFs, such as tax efficiencies and reduced tracking error. Kunke will discuss blockchain data and market insights at Benzinga's Future of Digital Assets event. Despite the optimism, ETF expert Matt Hougan advises moderation in expectations for a spot Bitcoin ETF.

Portfolio Pulse from Stjepan Kalinic

November 10, 2023 | 3:49 pm