Streetbeat News

Regulatory

NIO

XPEV

Chinese EV stocks, including NIO and XPEV, are trading lower due to concerns over US rate hikes and an agreement among several Chinese vehicle companies to avoid a price war.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 4:37 pm

TVIX

UVXY

VIXM

VIXY

VXX

The CBOE Volatility (VIX) Index surged over 20% on Thursday due to concerns that the Federal Reserve may raise interest rates again in 2023. This was fueled by strong economic data and hawkish remarks from Federal Reserve Bank of Dallas President, Lorie K. Logan. Traders now anticipate an increased likelihood of Fed rate hikes, with the probability of a 25 basis points hike in July rising to 95%. ETFs that track the VIX index, such as ProShares VIX Short-Term Futures ETF (VIXY), iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX), VelocityShares Daily 2x VIX Short-Term ETN (TVIX), ProShares Ultra VIX Short-Term Futures ETF (UVXY), and ProShares VIX Mid-Term Futures ETF (VIXM), may be impacted.

Portfolio Pulse from Piero Cingari

July 06, 2023 | 4:31 pm

ADI

INTC

KLAC

QCOM

Large-cap chip stocks are trading lower due to concerns over further rate hikes and China's recent announcement of an export restriction on certain materials used in chip production. Stocks mentioned include ADI, INTC, KLAC, and QCOM.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 4:20 pm

AMZN

Amazon has suspended dozens of small businesses for allegedly selling stolen goods from home appliance brands. The sellers claim they did not know they were selling stolen products and Amazon has provided limited evidence to back up its claims. Amazon's marketplace of independent sellers accounts for over 60% of goods sold on the platform. The crackdown on stolen goods followed complaints from retailers, lawmakers, and trade groups.

Portfolio Pulse from Anusuya Lahiri

July 06, 2023 | 4:08 pm

GOOG

META

SNAP

Meta Platforms (NASDAQ:META) has launched a Twitter-like app, Threads, which has quickly gained popularity with 10 million users in one day. The app is linked to Instagram accounts, potentially reaching over 100 million users in the US. However, Meta is facing regulatory challenges in the EU over its use of personal data for online advertising. The EU's top court ruled that Meta cannot justify its use of personal data for ad targeting without user approval. This ruling could have far-reaching implications for other tech companies like Alphabet Inc (NASDAQ:GOOG).

Portfolio Pulse from Upwallstreet

July 06, 2023 | 3:59 pm

SPY

VGK

The U.S. is expected to announce a weapons aid package for Ukraine, which includes cluster munitions, according to two U.S. officials. The announcement is expected to be made on Friday.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 3:58 pm

SPY

Data from the New York Federal Reserve suggests that underlying inflation may be slower than previously thought, according to Reuters.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 3:49 pm

TSLA

Tesla Inc's shares are trading lower by 2.66% amid overall market weakness and concerns over further rate hikes. The Federal Reserve's latest data shows signs of supply and demand in the labor market moving toward a better balance. Higher interest rates could increase Tesla's borrowing costs, potentially impacting its ability to invest in future growth. Investors may also reassess the valuation of growth-oriented companies like Tesla, leading to downward pressure on stock prices.

Portfolio Pulse from Henry Khederian

July 06, 2023 | 3:48 pm

DISH

SATS

Charlie Ergen, the chairman of Dish and EchoStar, is considering merging the two companies. EchoStar is financially stronger than Dish, which is spending heavily to build a nationwide mobile network. Dish has $22 billion of debt, more than 10 times its annual cash flow, while EchoStar is essentially debt-free. Dish is also under pressure from the FCC to meet a 2025 deadline to offer service to 75% of Americans, which may require an additional $3 billion investment.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 3:37 pm

SPY

California has reached an agreement with major truck manufacturers on state emissions rules. The companies involved are not specified in the article.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 3:31 pm