Streetbeat News

Regulatory

HMC

MFG

MUFG

SMFG

SONY

TM

Shares of Japanese stocks are trading lower following the Bank of Japan's recent rate hike.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 5:09 pm

BTCUSD

Weaker-than-expected U.S. payroll data has increased the likelihood of a significant Federal Reserve rate cut by September, potentially impacting various asset classes, including cryptocurrencies. Experts are divided on the implications, with some suggesting a rate cut could boost Bitcoin, while others caution that more data is needed to predict the Fed's actions.

Portfolio Pulse from Murtuza Merchant

August 02, 2024 | 4:42 pm

INSP

Inspire Medical Systems shares are trading higher following FDA approval of its Inspire V therapy system for obstructive sleep apnea.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 4:32 pm

BAC

WFC

Bank of America (BAC) and Wells Fargo (WFC) shares are trading lower due to weaker-than-expected U.S. job data, raising concerns about economic slowdown and potential Federal Reserve rate cuts. This environment could lead to reduced consumer and business borrowing, higher credit risk, and lower profits for banks.

Portfolio Pulse from Henry Khederian

August 02, 2024 | 4:31 pm

SPY

Federal Reserve's Goolsbee highlighted that the policy rate set a year ago may no longer be appropriate due to changing economic conditions. He pointed out rising small business defaults and delinquencies as warning signs, indicating the economy faces crosscurrents.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 4:13 pm

SPY

In a Bloomberg TV interview, Fed's Goolsbee stated that if unemployment exceeds 4.1%, the Federal Reserve must respond. He also noted that inflation is improving, but data trends are not changed by one month's numbers.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 4:06 pm

SPY

Federal Reserve's Goolsbee emphasized that the central bank is currently tight and restrictive, and cautioned against overreacting to one month's data. He highlighted the importance of moving steadily and considering the employment mandate if restrictive conditions persist for too long.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 4:04 pm

BIAF

GPAK

TNDM

VINE

VSEE

XCUR

U.S. stocks fell significantly with the Nasdaq Composite dropping 3% amid disappointing economic data. Nonfarm payrolls increased by 114,000 in July, below expectations, and the unemployment rate rose to 4.3%. Several stocks experienced notable price movements, including VSee Health, Exicure, Tandem Diabetes Care, bioAffinity Technologies, Gamer Pakistan, and Fresh Vine Wine.

Portfolio Pulse from Avi Kapoor

August 02, 2024 | 4:02 pm

CBST

CURLF

MSOS

VRNOF

Boris Jordan discusses the rescheduling of cannabis, with 90% of comments reviewed and no ALJ hearing so far. Verano Holdings will acquire operations from The Cannabist Co. for $15M in cash and $105M in licenses in Arizona and Virginia. Virginia is seen as a promising market for cannabis.

Portfolio Pulse from The Dales Report

August 02, 2024 | 3:03 pm

AMAT

INTC

Applied Materials (AMAT) shares are down 6.5% due to Intel's poor Q2 results and the company's failure to secure CHIPS Act funding for its $4 billion R&D center. Intel's financial struggles and potential cost reductions could negatively impact AMAT, a key supplier in the semiconductor industry.

Portfolio Pulse from Henry Khederian

August 02, 2024 | 2:54 pm