Streetbeat News

Regulatory

META

In an interview, former Twitter CEO Jack Dorsey disagreed with Elon Musk's views on AI regulation and praised Meta Platforms CEO Mark Zuckerberg's open-source approach to AI development. Dorsey emphasized the need for AI regulation but expressed concerns about regulators' current understanding of the technology.

Portfolio Pulse from Ananya Gairola

June 14, 2023 | 9:54 am

INTC

NVDA

TSLA

The S&P 500 closed higher on Tuesday as consumer price inflation eased to 4.0% in May. Investors await the Fed's interest rate decision on Wednesday. Intel shares rose 2.5% on reports of potential investment in Arm's IPO. The Nasdaq 100 rose 0.79% with gains in NVIDIA and Tesla shares.

Portfolio Pulse from Lisa Levin

June 14, 2023 | 9:50 am

BABA

BIDU

FXI

PDD

SPY

US-traded shares of Chinese stocks are lower after a report that a bipartisan group of US lawmakers plans to introduce a bill on Wednesday to eliminate tariff exemptions used by e-commerce sellers to send orders from China to US shoppers.

Portfolio Pulse from Charles Gross

June 14, 2023 | 9:38 am

GOOG

GOOGL

VGK

EU Antitrust Chief Margrethe Vestager is expected to address alleged anti-competitive practices by Alphabet's Google in its digital advertising business during a news conference at 1045 GMT Wednesday.

Portfolio Pulse from Charles Gross

June 14, 2023 | 9:25 am

AAPL

GOOGL

Apple is working with the European Union to comply with its mandate to allow iPhone users to sideload apps from third-party sources. Apple's SVP of software engineering, Craig Federighi, suggested that the option will eventually be available as the EU mandates it.

Portfolio Pulse from Rounak Jain

June 14, 2023 | 8:58 am

BTCUSD

Binance CEO Changpeng Zhao denies selling Bitcoin and BNB, stating that the company still holds FTT. This comes amid a legal dispute with the SEC over allegations of violations at Binance.US, which may result in a full asset freeze on its US operations.

Portfolio Pulse from Mehab Qureshi

June 14, 2023 | 5:21 am

BNO

VDE

GOP presidential candidate Tim Scott and eight Senate colleagues introduced the Pay Less at the Pump Act, aiming to lower energy prices by repealing the $10.5 billion Superfund Tax on crude oil and imported petroleum products. Oil prices fell on Wednesday due to an unexpected rise in U.S. crude stocks, while the United States Brent Oil Fund (BNO) and Vanguard Energy Index Fund ETF (VDE) experienced gains.

Portfolio Pulse from Bhavik Nair

June 14, 2023 | 4:30 am

BTCUSD

Edward Snowden commented on the SEC lawsuits against cryptocurrency exchanges Binance and Coinbase, which accused them of providing unregistered securities. The lawsuits also alleged that several tokens, including SOL, ADA, MATIC, COTI, ALGO, FIL, ATOM, SAND, AXS, and MANA, are securities.

Portfolio Pulse from Mehab Qureshi

June 14, 2023 | 3:48 am

BTCUSD

DOGEUSD

ETHUSD

Major cryptocurrencies saw marginal gains following the announcement of a 4% surge in the US CPI, better than the projected 4.1% and April's figure of 4.9%. Despite ongoing SEC lawsuits against Binance and Coinbase, investors appeared optimistic, and stocks soared on Tuesday. Crypto analyst Michael Van de Poppe predicts a market drop into the FOMC, prompting potential lows.

Portfolio Pulse from Mehab Qureshi

June 14, 2023 | 2:53 am

AAPL

Elon Musk and Jack Dorsey have criticized Apple's threat to ban Damus, a decentralized social messaging app backed by Dorsey, due to non-compliance with App Store Review Guidelines. Apple's concerns revolve around Damus' integration with the Lightning Network and its 'Zaps' feature, which could be used by content creators to sell digital content without going through Apple's payment system.

Portfolio Pulse from Ananya Gairola

June 14, 2023 | 2:14 am