Streetbeat News

Regulatory

EWQ

The France Manufacturing Purchasing Managers Index (PMI) for July is reported at 45.1, slightly higher than the estimated 44.5, but lower than the previous month's 46.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2023 | 7:59 am

META

Meta Platforms Inc.'s (NASDAQ:META) chief product officer, Chris Cox, reportedly stated that the company's name change from Facebook was successful in shifting media attention away from the 'Facebook Papers' scandal. This statement contradicts CEO Mark Zuckerberg's previous dismissal of any association between the name change and the scandal. The timing of the name change, which occurred three weeks after whistleblower Frances Haugen's disclosures, had sparked speculation about its connection to the scandal.

Portfolio Pulse from Ananya Gairola

August 01, 2023 | 5:37 am

BLK

BTCUSD

ETHUSD

Analysts have identified three potential catalysts for Bitcoin's growth: the launch of Bitcoin ETFs, Ethereum's growth, and the exploration of central bank digital currencies by world governments. A federal court is expected to make a decision this fall on the SEC's rejection of Grayscale Investments' application to convert the Grayscale Bitcoin Trust into an ETF. This could significantly impact the future of Bitcoin ETFs and the cryptocurrency market. Ethereum's growth and the exploration of central bank digital currencies by world governments could also drive Bitcoin's growth.

Portfolio Pulse from Benzinga Neuro

August 01, 2023 | 5:10 am

EWA

The Reserve Bank of Australia has decided to keep the interest rate at 4.10%, which is in line with the prior rate but below the estimated 4.35%. This could impact the iShares MSCI Australia ETF (EWA).

Portfolio Pulse from Benzinga Newsdesk

August 01, 2023 | 4:31 am

BBJP

DXJ

EWJ

The Japan Jobs/Applications ratio for June came in at 1.30, slightly below the estimated 1.32 and the prior figure of 1.31.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2023 | 4:13 am

FXI

China's Caixin Manufacturing Purchasing Managers Index (PMI) for July came in at 49.2, lower than the estimated 50.3 and the prior figure of 50.5. This indicates a contraction in the manufacturing sector.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2023 | 4:12 am

BTCUSD

Republican presidential candidate and Florida Governor Ron DeSantis criticized the Biden Administration for its perceived 'war' on Bitcoin and cryptocurrencies. DeSantis vowed to end such policies if elected as President. His comments came amid recent charges by the SEC against cryptocurrency exchanges Coinbase and Binance. DeSantis also criticized the current administration’s consideration of a Central Bank Digital Currency (CBDC), stating that he would not allow it. At the time of writing, Bitcoin was trading at $28,923, down 1.41% in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

August 01, 2023 | 3:14 am

BTCUSD

DOGEUSD

ETHUSD

Major cryptocurrencies including Bitcoin, Ethereum, and Dogecoin experienced a decline after the SEC launched a lawsuit against internet marketer Richard Heart and his projects. The market also grappled with the consequences of a recent exploit on the stablecoin exchange Curve. Analysts predict that Ethereum may rally in December and January, based on historical data.

Portfolio Pulse from Mehab Qureshi

August 01, 2023 | 2:33 am

ANET

PLTR

PLUG

SOFI

UBER

U.S. stocks ended in the green, with the Dow Jones and NASDAQ indices closing slightly higher. Top trending stocks included Palantir, SoFi, Arista Networks, Plug Power, and Uber. Palantir saw an 11.40% increase, SoFi surged by 19.90% after reporting better-than-expected quarterly results, Arista Networks increased by 2.65% after reporting expectation-beating financial results, Plug Power rose by 10.62% after submitting a letter to the Biden administration on the Section 45V Clean Hydrogen Production tax credit implementation, and Uber increased by 2.74%.

Portfolio Pulse from Benzinga Neuro

August 01, 2023 | 1:48 am

CNBS

POTX

THCX

TOKE

YOLO

Analysts from Zuanic & Associates (Z&A) have discussed the potential impact of cannabis rescheduling on Multi-State Operators (MSOs) and cannabis stocks. They suggest that rescheduling may not be beneficial for MSOs and that the industry should consider the consequences of medical marijuana rescheduling. They also recommend lobbying for the removal of 280E without rescheduling. The report mentions several cannabis ETFs, including Cambria Cannabis ETF (TOKE), Amplify Seymour Cannabis ETF (CNBS), AdvisorShares Pure Cannabis ETF (YOLO), ETFMG Alternative Harvest (MJ), AXS Cannabis ETF (THCX), and Global X Cannabis ETF (POTX).

Portfolio Pulse from Nicolás Jose Rodriguez

July 31, 2023 | 10:14 pm