Streetbeat News

Regulatory

AAPL

The Chinese government has expressed concerns over 'security incidents' involving Apple Inc.'s iPhones, according to a statement by Chinese Foreign Ministry spokeswoman Mao Ning. This comes amid reports of China banning iPhones and other foreign-made devices. However, Ning denied any official ban on iPhones. China accounts for 19% of Apple's revenue, making it a key market for the company.

Portfolio Pulse from Rounak Jain

September 13, 2023 | 9:02 am

VGK

Eurozone's industrial production for July has decreased by 1.1%, which is worse than the estimated decrease of 0.7%. The prior figure was a growth of 0.4% (revised).

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 9:00 am

BYDDF

LI

NIO

XPEV

Shares of Chinese electric vehicle (EV) manufacturers are trading lower in the premarket following reports of potential tariffs by the European Union (EU). The companies mentioned include BYD Co Ltd (BYDDF), Li Auto Inc. (LI), NIO Inc. (NIO), and XPeng Inc. (XPEV).

Portfolio Pulse from Charles Gross

September 13, 2023 | 8:54 am

BYDDF

FXI

LI

NIO

XPEV

The European Commission has initiated an investigation to determine if tariffs are necessary on Chinese electric vehicle manufacturers that are benefiting from state subsidies. This could potentially impact Chinese EV manufacturers listed in the US, including BYD Co Ltd (BYDDF), Li Auto Inc. (LI), NIO Inc. (NIO), and XPeng Inc. (XPEV), as well as the iShares China Large-Cap ETF (FXI).

Portfolio Pulse from Charles Gross

September 13, 2023 | 8:52 am

MOR

MorphoSys has received FDA Fast Track Designation for its drug Tulmimetostat, aimed at treating endometrial cancer in patients who have progressed on at least one prior treatment.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 8:40 am

BTCUSD

Binance.US CEO Brian Shroder has resigned and the company has laid off a third of its staff due to increasing regulatory pressure. The company is facing legal action from the SEC over suspected violations of securities laws. The downsizing move is aimed at providing the crypto exchange with a financial cushion for more than seven years as it transitions to a crypto-only exchange.

Portfolio Pulse from Benzinga Neuro

September 13, 2023 | 7:56 am

TIP

Peter Schiff, a gold bull, has suggested that the Federal Reserve may have secretly abandoned its 2% inflation target. He believes the central bank's new unspoken mandate will be to finance government debt and prevent a financial crisis, regardless of how high inflation rises. The Bureau of Labor Statistics' August CPI report is expected to show an acceleration in consumer price inflation rate from 0.2% in July to 0.6% in August. The iShares TIPS Bond ETF (NYSE:TIP) ended Tuesday’s session up 0.05% at $105.40.

Portfolio Pulse from Shanthi Rexaline

September 13, 2023 | 6:55 am

BTCUSD

ETHUSD

Republican Representative Tom Emmer has reintroduced the 'CBDC Anti-Surveillance State Act' in the United States House of Representatives, aiming to prevent the Federal Reserve from issuing a central bank digital currency (CBDC). Emmer views CBDCs as a potential surveillance tool that could compromise financial privacy. The bill has received support from several senators. The reintroduction of this bill comes amidst growing concerns over the potential misuse of CBDCs for collecting sensitive financial data.

Portfolio Pulse from Benzinga Neuro

September 13, 2023 | 6:18 am

EWU

The U.K. trade balance for July was reported at -14.06B, better than the estimated -16.00B and the prior figure of -15.46B. The trade balance with non-EU countries for July was -2.36B, an improvement from the prior -2.77B.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 6:05 am

EWU

The U.K.'s monthly Gross Domestic Product (GDP) 3M/3M change for July was reported at 0.2%, which is slightly below the estimated 0.3% and equal to the prior figure of 0.2%.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 6:04 am