Streetbeat News

Regulatory

SPY

White House's Brainard expressed optimism that a more favorable environment for commercial real estate could facilitate the conversion of commercial properties to residential use. This was discussed at a Council on Foreign Relations event.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 5:29 pm

ZM

Zoom has expanded its offerings for government use by receiving FedRAMP JAB authorization for its AI Companion and Zoom Contact Center. This enhances Zoom's position in the U.S. government sector, providing secure AI solutions for federal, state, and local agencies.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 5:25 pm

SPY

The White House, through Brainard, announced that President Biden's targeted tariff hikes on Chinese goods are intended to support the development of clean energy manufacturing and protect strategic industries in the U.S. This was discussed at a Council on Foreign Relations event.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 5:17 pm

SPY

White House's Brainard stated that Trump's proposed tariff increases could impose a $4,000 annual 'tax' on U.S. families, as discussed at a Council on Foreign Relations event.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 5:14 pm

SPY

White House's Brainard highlighted housing as a persistent and complex factor in the inflation puzzle, emphasizing the need for more homes at a Council on Foreign Relations event.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 5:09 pm

SPY

White House's Brainard emphasized the strong support among Americans for a fairer tax system where the ultra-wealthy and corporations contribute more. She criticized extending tax cuts without funding them, which could increase the deficit by $5 trillion.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 4:56 pm

XLU

The upcoming August retail sales data could influence the Federal Reserve's interest rate decision, with potential rate cuts being debated. Bank of America forecasts a decline in retail sales, which could lead to a larger rate cut. The uncertainty around the FOMC meeting is expected to be a trading catalyst, with different strategies suggested based on retail sales outcomes and the Fed's stance. Rate-sensitive sectors like manufacturing and housing could benefit from easing rate pressures, and Bank of America is overweight on Financials, Consumer Discretionary, Real Estate, and Utilities, including the Utilities Select Sector SPDR Fund (NYSE:XLU).

Portfolio Pulse from Piero Cingari

September 16, 2024 | 4:41 pm

MU

NVDA

SMCI

NVIDIA, Micron, and SMCI stocks are down due to concerns over an AI 'bubble', geopolitical tensions, and company-specific issues. Micron's market value has significantly decreased, and a recent short report and delayed filing have affected SMCI. NVIDIA faces geopolitical challenges but reports strong demand for its chips.

Portfolio Pulse from Erica Kollmann

September 16, 2024 | 4:40 pm

SPY

White House Economic Adviser Brainard emphasized the importance of safeguarding progress in the U.S. labor market and noted that the U.S. economy has reached a crucial turning point in the fight against inflation. Inflation is nearing normal levels, but continued efforts are needed to address affordability and create opportunities for working families.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 4:36 pm