Streetbeat News

Regulatory

EWU

FKU

FLGB

The Bank of England decided to keep its interest rate steady at 5.25%, while the Swiss National Bank cut its key rate from 1.5% to 1.25%. This led to a slight uptick in UK-related ETFs, including iShares MSC United Kingdom ETF (EWU), Franklin FTSE United Kingdom ETF (FLGB), and First Trust United Kingdom AlphaDEX Fund (FKU). The U.S. Federal Reserve is speculated to cut rates in September.

Portfolio Pulse from Michael Juliano

June 20, 2024 | 3:29 pm

Micron Technology (NASDAQ:MU) faces delays in its semiconductor fab project in Syracuse, NY due to environmental issues involving endangered bat species. The project, which aims to create 9,000 jobs, is now pushed to 2025. Despite this, analysts remain optimistic about Micron's Q4 performance due to strong DRAM and NAND pricing.

Portfolio Pulse from Anusuya Lahiri

June 20, 2024 | 3:28 pm

SPY

Director of the National Economic Council, Brainard, expressed optimism about further progress on inflation, noting that Q1 inflation aberrations have not continued into Q2. However, there has not been enough progress on housing and healthcare prices.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 3:26 pm

AAPL

DELL

META

NVDA

QQQ

SPY

Quadruple witching is driving AI stocks, including Nvidia, higher despite deteriorating internals in the Nasdaq 100. The market shows signs of being overextended and overbought, with low volume indicating a lack of conviction. Noteworthy news includes a potential Apple source code breach and Dell's involvement in xAI's supercomputer. Housing data is weaker than expected, and the Bank of England has held rates steady. Early trade shows positive money flows in Meta and Nvidia, while Apple sees negative flows.

Portfolio Pulse from The Arora Report

June 20, 2024 | 3:07 pm

FXI

SPY

U.S. Treasury Secretary Janet Yellen stated that it is inappropriate to remove U.S. tariffs on China as they have not addressed U.S. concerns. Additionally, the U.S. has upgraded its relationship with Vietnam, which continues to maintain a policy of working with various countries.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 2:34 pm

FXI

SPY

U.S. Treasury Secretary Janet Yellen announced new strategic tariffs on Chinese goods to protect U.S. new energy companies from China's coordinated dumping. The tariffs, which will be across the board, are expected to impact all trade partners and increase consumer costs.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 2:32 pm

GOVX

GOVXW

NYSE Arca Equities is reviewing trades in GeoVax Labs Warrants (GOVXW) and investigating potentially erroneous trades. This could impact the stock price of GeoVax Labs (GOVX) in the short term.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 2:29 pm

ACN

BTCUSD

DOGEUSD

ETHUSD

NVDA

VANEX

Ethereum surged while Bitcoin and Dogecoin remained volatile as the market celebrated a legal victory over the SEC. Nvidia continued its gains, and Accenture's stock rose after a strong Q3 report. Circle's CEO expressed bullish sentiments on Bitcoin and stablecoins. The first-ever Bitcoin spot ETF started trading in Australia, giving investors exposure to the US-based VanEck fund. In the tech sector, Nvidia and Hewlett Packard announced a partnership to dominate the enterprise AI market.

Portfolio Pulse from Akanksha Bakshi

June 20, 2024 | 2:12 pm

PTCT

PTC Therapeutics announced that the FDA has lifted the clinical hold on its PIVOT-HD study for Huntington's disease. Interim results from the Phase 2 study showed dose-dependent reductions in mutant huntingtin protein and favorable trends in clinical assessments. Despite the positive news, PTCT shares are down 4.10%.

Portfolio Pulse from Vandana Singh

June 20, 2024 | 2:09 pm

BTTR

Better Choice Company (BTTR) shares have been halted pending news. Investors are awaiting further information to understand the implications of this halt.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 2:03 pm