Streetbeat News

Regulatory

EIS

SPY

USO

Hamas has announced that it will release foreign hostages in the next few days, according to AFP News Agency. The news may have implications for ETFs such as EIS, SPY, and USO.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 5:40 pm

SAVE

Spirit Airlines' stock is trading lower due to antitrust scrutiny over its deal with JetBlue.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 5:29 pm

MULN

Mullen Automotive, Inc. (NASDAQ:MULN) shares are trading higher, recovering from a 15% loss over the past few days. The company announced that the Nasdaq Hearings Panel had granted Mullen's request to continue its listing on the Nasdaq Capital Market, subject to certain conditions. MULN shares have attracted attention from retail investors and short-sellers, with 16.39% of available MULN shares being sold short. The shares are up 15% at 29 cents at the time of publication.

Portfolio Pulse from Erica Kollmann

October 31, 2023 | 5:09 pm

PYPL

U.S. Deputy Treasury Secretary Wally Adeyemo has stated that cryptocurrencies are not the main source of funding for terrorist organizations, with traditional banking systems still being the primary channel. He noted that terrorist organizations have adopted online payment systems such as Venmo and PayPal Holdings Inc (NASDAQ:PYPL). Adeyemo emphasized the potential risks associated with the growing popularity of cryptocurrencies and the need for the industry to work with the government to prevent misuse.

Portfolio Pulse from Murtuza Merchant

October 31, 2023 | 4:41 pm

UTEN

The Federal Open Market Committee's two-day meeting is set to conclude on Wednesday, with the Federal Reserve expected to keep interest rates steady within the 5.25% to 5.5% range. However, Bank of America analysts Mark Cabana and Michael Gapen predict another rate increase in December. They argue that the Fed risks lagging behind real growth and inflation unless it adjusts its approach in response to higher rates. Yields on the 10-year Treasury bond, monitored through the US 10-Year Treasury Note ETF (NYSE:UTEN), have surged from 3.85% to 4.85% since the beginning of the year.

Portfolio Pulse from Piero Cingari

October 31, 2023 | 4:23 pm

SWI

The Securities and Exchange Commission (SEC) has filed a lawsuit against IT firm SolarWinds and its Chief Information Security Officer, Tim Brown, alleging that they misled investors about the company's cybersecurity practices and vulnerabilities. The lawsuit claims that SolarWinds and Brown ignored known cyber risks and made false statements about the company's security. This news led to a 1.5% drop in SolarWinds' shares. SolarWinds has denied the allegations and plans to contest them in court.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 4:17 pm

BABA

NVDA

The latest U.S. embargo on China regarding AI technology triggered a selloff in Nvidia Corp (NASDAQ:NVDA) stock. China's leading AI and cloud-computing companies, like Alibaba Group Holding Limited (NYSE: BABA), had placed orders to deliver AI chips worth over $5 billion in 2024. Nvidia unveiled its innovative research on utilizing chatbots for semiconductor design, which could save considerable time for senior designers and ensure precision and cost-effectiveness. Despite these advancements, Nvidia maintained that it does not look to replace human expertise.

Portfolio Pulse from Anusuya Lahiri

October 31, 2023 | 4:12 pm

EIS

SPY

USO

VGK

The World Bank has predicted on CNBC that oil prices could reach $157 per barrel if conflicts in the Middle East escalate. This could impact various ETFs including EIS (iShares MSCI Israel ETF), SPY (SPDR S&P 500 ETF Trust), USO (United States Oil Fund), and VGK (Vanguard FTSE Europe ETF).

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 4:08 pm

BABA

Alibaba's shares are trading lower due to weakness in Chinese stocks and a report suggesting the company is pressuring merchants to offer lower prices during the Singles' Day shopping event.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 4:08 pm

NVAX

The European Medicines Agency has recommended the approval of an adapted version of the Nuvaxovid Covid-19 vaccine, developed by Novavax, which targets the Omicron XBB.1.5 variant.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 4:03 pm