Streetbeat News

Regulatory

AMZN

COHR

LITE

MSFT

The ongoing tech war between the U.S. and China has escalated with new measures that could affect companies in the semiconductor and cloud computing sectors. China has imposed restrictions on the export of gallium and germanium, metals crucial in the manufacturing of semiconductors, which could impact U.S. companies like Coherent Corp, Lumentum Holdings, Ciena Corporation, Infinera Corp, Wolfspeed, Power Integrations, Navitas Semiconductor, Qorvo, NXP Semiconductors, Skyworks Solutions, Qualcomm, and Broadcom. Meanwhile, the Biden administration is considering restricting Chinese access to U.S. cloud-service providers like Amazon and Microsoft.

Portfolio Pulse from Natan Ponieman

July 05, 2023 | 6:54 pm

USO

Iran has denied reports that it attempted to seize oil tankers, according to Reuters citing state TV. The US-listed ETF, United States Oil Fund (USO), may be indirectly affected by this news.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 6:41 pm

FXI

SPY

The US Commerce Department has announced its firm opposition to China's export controls on gallium and germanium. The US plans to engage with allies and partners to address these controls.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 6:22 pm

ATVI

MSFT

SONY

Microsoft Corp. (NASDAQ:MSFT) has claimed in a court document that Sony Group Corp. (NYSE:SONY) plans to release a PlayStation 5 Slim later this year, priced at $399.99. The document was released during the ongoing Federal Trade Commission trial over Microsoft's $68.7 billion acquisition of Activision Blizzard Inc (NASDAQ:ATVI). Microsoft is trying to persuade the court that Nintendo Switch should be classified within the same market segment as the Xbox Series consoles and the PlayStation 5. Sony is also expected to release a handheld version of PlayStation 5 later this year for under $300.

Portfolio Pulse from Franca Quarneti

July 05, 2023 | 6:20 pm

SPY

The Federal Reserve's meeting minutes reveal that all participants agreed that maintaining a restrictive stance would be appropriate. This could potentially impact the broader market, including ETFs like SPY.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 6:05 pm

SPY

The Federal Reserve's minutes reveal that nearly all participants believe that the key to the policy outlook lies in the upside risks to inflation or the possibility that inflation expectations might become unanchored.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 6:04 pm

ELONUSD

FTTUSD

Cryptocurrency exchange Hotbit has reportedly executed a significant rug pull, causing severe damage to the Defi project RichQuack, along with Baby Doge Coin and Dogelon Mars tokens. Hotbit sold around 256 trillion QUACK tokens that belonged to QUACK holders on PancakeSwap and did not respond to withdrawal requests. The incident also affected other projects, including BabyDogeCoin and DogelonMars. Hotbit recently announced a halt to its operations due to worsening operating conditions.

Portfolio Pulse from Murtuza Merchant

July 05, 2023 | 6:04 pm

SPY

The Federal Reserve staff predicts a 'mild recession' to start later this year, as per the Fed minutes. This prediction remains unchanged from the May minutes.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 6:03 pm

SPY

The Federal Reserve minutes reveal that some members favor an interest rate increase due to a very tight labor market and stronger-than-anticipated economic momentum. However, there is little evidence of inflation returning to the 2% target over time.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 6:02 pm

SPY

The Federal Reserve's minutes reveal that some participants were in favor of or could have supported a 25 basis points increase in the target rate. However, almost all participants deemed it appropriate or acceptable to leave the target rate unchanged.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 6:02 pm