Streetbeat News

Regulatory

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EWY

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XLY

Former President Donald Trump proposed eliminating income taxes in favor of an 'all tariff policy' to CEOs and GOP lawmakers. This policy could significantly impact sectors reliant on imports, such as consumer discretionary and technology, while potentially benefiting domestic manufacturing and international manufacturers outside of China.

Portfolio Pulse from Hayden Buckfire

June 13, 2024 | 6:07 pm

GOOG

GOOGL

Geoffrey Hinton, known as the 'Godfather of AI,' has issued a grave warning about the potential risks of artificial intelligence, predicting a 50-50 chance that AI could surpass human intelligence and potentially 'wipe out' humanity within 5 to 20 years. Hinton, a former Alphabet employee, emphasizes the need for government regulation to control AI development and prevent existential threats.

Portfolio Pulse from Chris Katje

June 13, 2024 | 6:00 pm

FXI

KRE

XLF

Treasury Secretary Yellen has expressed concerns over the stability of smaller banks and the impact of sanctions. Large financial firms are working to comply with Russia sanctions, while major Chinese banks emphasize the importance of correspondent relationships. Smaller banks are focused on maintaining access to the dollar.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 5:57 pm

FXI

MSFT

Microsoft President Brad Smith announced that the company has been reducing its engineering presence in China. This move is part of a broader strategy to manage geopolitical risks and align with global operational priorities.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 5:50 pm

SPY

VGK

President Biden and Ukraine's President Zelenskiy have signed a 10-year U.S.-Ukraine security agreement aimed at bolstering Ukraine's defense. This agreement is expected to enhance military cooperation and support between the two nations.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 5:32 pm

BMY

Bristol-Myers Squibb (BMY) has received FDA accelerated approval for its drug Repotrectinib.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 5:14 pm

EIS

SPY

USO

President Biden remains optimistic about a potential Middle East deal but does not foresee a ceasefire in the near future. This ongoing conflict could impact various sectors, including energy and defense.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 5:11 pm

COIN

ETHUSD

The Biden campaign is exploring the possibility of accepting cryptocurrency donations through Coinbase Commerce, aligning with a strategy to engage crypto-focused voters. This move follows Trump's campaign, which already accepts crypto donations. The discussions are in response to backlash from Biden's previous anti-crypto actions and the need to counter Trump's pro-crypto stance.

Portfolio Pulse from Murtuza Merchant

June 13, 2024 | 5:00 pm

ALK

GABF

ITA

Boeing (NYSE:BA) shares are trading lower following FAA's admission of insufficient oversight after a mid-air emergency involving Alaska Air (NYSE:ALK). Additionally, Boeing is investigating a new quality issue with its 787 Dreamliner. The stock has lost over 18% in the past year. Investors can gain exposure via IShares U.S. Aerospace & Defense ETF (BATS:ITA) and Gabelli Financial Services Opportunities ETF (NYSE:GABF).

Portfolio Pulse from Nabaparna Bhattacharya

June 13, 2024 | 4:52 pm

YPF

YPF Sociedad Anonima (NYSE:YPF) shares are trading higher following the passage of an economic reform bill in Argentina's Senate. The bill aims to increase investment by privatizing state-owned enterprises and offering business incentives.

Portfolio Pulse from Dylan Berman

June 13, 2024 | 4:47 pm