Streetbeat News

Regulatory

SPY

Fed's Barkin is monitoring the impact of lower interest rates on home and auto sales, and the potential for demand to outpace supply. He notes that a 'low-hiring, low-firing' labor market could persist, but demand for workers might increase if demand grows. Recent labor actions and geopolitical conflicts are also seen as inflation risks. The Fed needs to be attentive to the economy and inflation as it considers the pace and extent of rate reductions.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 4:08 pm

SPY

Fed's Barkin suggests a half-percentage-point rate cut in September was justified due to rates being misaligned with inflation and unemployment trends. He anticipates minimal further decline in core PCE price index until next year. The median Fed projection indicates further rate cuts this year.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 4:08 pm

GSK

NVAX

SNY

Hungary and Italy have reported outbreaks of the highly pathogenic H5N1 bird flu on farms, according to the World Organization for Animal Health. This could impact companies involved in vaccine production and poultry industries.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 3:35 pm

BABA

MTC

MMTec, Inc. (NASDAQ:MTC) shares are rising due to China's Central Bank stimulus measures, which include rate cuts. This has positively impacted other US-listed Chinese stocks like JD.Com and Alibaba. The stimulus aims to boost China's economy, especially during the National Day Golden Week.

Portfolio Pulse from Dylan Berman

October 02, 2024 | 3:34 pm

ISRA

SPY

An Israeli airstrike on Syria's Damascus resulted in at least two deaths and two injuries, according to Syrian state TV, as reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 3:23 pm

BMWYY

BYDDY

GELYF

LVMHA

PPRUY

VWAGY

The European Union is considering final tariffs on Chinese electric vehicle (EV) makers to protect its own automobile industry. However, this move could lead to a trade war with China, affecting EU's export-dependent companies and critical raw material supplies. Automakers like BMW and Volkswagen have warned against these tariffs, fearing retaliatory measures from China. The EU remains dependent on China for essential raw materials, complicating the situation.

Portfolio Pulse from European Capital Insights

October 02, 2024 | 2:56 pm

CZR

DKNG

MGM

WYNN

A federal appeals court has ruled that betting on congressional elections is lawful, overturning a previous decision by the Commodity Futures Trading Commission (CFTC). This decision could impact companies involved in gambling and betting markets.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 2:30 pm

BITW

XRP-USD

Bitwise Asset Management has filed for an XRP ETF, sparking debate due to regulatory uncertainties. The SEC's decision on Ripple's legal status and potential political changes could impact the ETF's approval.

Portfolio Pulse from Murtuza Merchant

October 02, 2024 | 2:22 pm

FLCH

FXI

KWEB

MCHI

China is projected to surpass the US in advanced technology and military manufacturing by 2035, according to a report. This shift has implications for global geopolitics and economic balance, as China invests heavily in semiconductor manufacturing and circumvents US trade restrictions.

Portfolio Pulse from Benzinga Neuro

October 02, 2024 | 2:08 pm

SPY

The article discusses the market adage 'Sell Rosh Hashanah, Buy Yom Kippur,' which has proven successful in 2023. The SPDR S&P 500 ETF Trust (SPY) is highlighted as a key index reflecting this trend. Despite geopolitical tensions and upcoming economic data releases, the market has shown resilience. Investors are advised to consider their long-term objectives when making decisions.

Portfolio Pulse from Joel Elconin

October 02, 2024 | 1:55 pm