Streetbeat News

Regulatory

TSLA

Former Tesla executive Rohan Patel stated that the Biden administration treated Tesla fairly on substantive issues, despite surface-level disappointments between President Biden and CEO Elon Musk. The administration included Tesla in the $7500 consumer incentive, allowed the deployment of Tesla’s driver assistance systems, and enacted incentives that benefited Tesla's Megapack deployments and battery manufacturing. Musk, however, has criticized Biden for being pro-union and has expressed concerns about potential tariffs if Trump is re-elected.

Portfolio Pulse from Anan Ashraf

July 30, 2024 | 9:53 am

TSLA

Tesla is recalling approximately 1.85 million vehicles in the U.S. due to a risk of the hood becoming unlatched while driving. The company has released an over-the-air update to address the issue.

Portfolio Pulse from charles@benzinga.com

July 30, 2024 | 9:23 am

AAL

ALK

DAL

JBLU

UAL

A U.S. appeals court has temporarily halted the Biden administration's rule requiring airlines to disclose fees upfront, citing potential irreparable harm to carriers. The rule aimed to enhance consumer transparency but faced strong opposition from major airlines, including American Airlines, Delta Air Lines, United Airlines, JetBlue Airways, and Alaska Airlines.

Portfolio Pulse from Benzinga Neuro

July 30, 2024 | 8:54 am

COP

CVX

EOG

IYE

MRO

USO

VDE

XLE

XOM

Former President Donald Trump accused OPEC of manipulating oil prices to favor Vice President Kamala Harris, warning that her potential presidency could be detrimental to the U.S. Oil stocks, including Chevron, Marathon Oil, Exxon Mobil, ConocoPhillips, and EOG Resources, have declined following Harris's nomination. ETFs tied to the oil sector, such as USO, XLE, VDE, and IYE, are also under pressure. Trump's comments come amid speculation that Harris might adopt stricter climate policies if elected.

Portfolio Pulse from Kaustubh Bagalkote

July 30, 2024 | 7:25 am

GOVT

The U.S. national debt has reached a record high of $35.01 trillion, increasing by over $7.2 trillion since President Joe Biden took office. Economist Peter Schiff highlighted the rapid debt accumulation compared to previous administrations. The iShares U.S. Treasury Bond ETF (GOVT) saw a slight increase in its price.

Portfolio Pulse from Shanthi Rexaline

July 30, 2024 | 6:36 am

COIN

Crypto-focused Fairshake has become the largest super PAC in the 2024 presidential election with over $200 million in donations, primarily targeting Democratic candidates. Major contributors include Coinbase Global Inc. and Ripple Labs, each donating $45 million. This highlights the growing political influence of the cryptocurrency industry.

Portfolio Pulse from Aniket Verma

July 30, 2024 | 6:23 am

META

MSFT

SNAP

The U.S. Senate is expected to pass a bipartisan bill aimed at protecting children from harmful online content. The legislation mandates tech companies to take steps to prevent harm on platforms used by minors, including Meta, Snap, and X. The bill requires these companies to offer options to protect minors' information, disable addictive features, and restrict harmful interactions.

Portfolio Pulse from Ananya Gairola

July 30, 2024 | 5:31 am

META

MSFT

SNAP

The U.S. Senate is expected to pass a bill aimed at protecting children from harmful online content, requiring tech companies to take steps to prevent harm on platforms used by minors. The bill has bipartisan support and targets companies like Meta, Snap, X (formerly Twitter), and TikTok.

Portfolio Pulse from Ananya Gairola

July 30, 2024 | 5:24 am

BTCUSD

COIN

Key Democratic donors are pushing for Vice President Kamala Harris to speak at the upcoming Permissionless cryptocurrency conference, organized by Blockworks. The event aims to attract speakers from both political parties and could influence mainstream acceptance of cryptocurrency ahead of the 2024 U.S. presidential election. Notable confirmed speakers include Mike Novogratz, CEO of Galaxy Digital, and Coinbase Chief Legal Officer Paul Grewal.

Portfolio Pulse from Aniket Verma

July 30, 2024 | 5:04 am

MSFT

NVDA

The UAE has blocked meetings between U.S. Congressional staffers and Emirati AI firm G42 due to concerns over potential technology transfer to China. This follows a $1.5 billion investment by Microsoft in G42, raising fears of sensitive AI technology being diverted to China. Congress is expected to increase oversight of the G42-Microsoft deal.

Portfolio Pulse from Ananya Gairola

July 30, 2024 | 4:26 am