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ADBE

GME

MSM

QQQ

SPY

TSLA

US stocks are expected to end the week on a subdued note after a record run, with major index futures moderately lower. Adobe Inc. (ADBE) is set to boost the tech sector, while GameStop Corp. (GME) and MSC Industrial Direct Co., Inc. (MSM) are experiencing declines. The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) show mixed premarket performance. Key economic data and Federal Reserve speeches are anticipated to influence market movements.

Portfolio Pulse from Shanthi Rexaline

June 14, 2024 | 11:45 am

TSLA

Tesla Inc (NASDAQ:TSLA) is ramping up production of its Cybertruck, aiming to reach 2,500 units per week by the end of the year. Currently, the production rate is at 1,300 units per week. The company plans to eventually deliver 250,000 Cybertrucks annually starting in 2025. The Cybertruck is currently limited to the U.S. market, with potential international availability next year. Tesla will soon stop producing the foundation series and start shipping non-foundation series Cybertrucks next quarter.

Portfolio Pulse from Anan Ashraf

June 14, 2024 | 11:41 am

NUE

Nucor Corporation has released its Q2 guidance, indicating that its Steel Products segment will experience decreased earnings year-over-year due to lower average selling prices. However, this decline will be partially offset by increased volumes.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2024 | 11:37 am

AMZN

GOOG

NFLX

Amazon's introduction of an ad-supported version of Prime Video has disrupted the streaming ad market, impacting Netflix, YouTube, and TV networks. This move has led to a decrease in ad prices and forced Netflix to reduce its ad rates and introduce new offerings. Amazon's ad-supported Prime Video tier has a significant reach, and its entry into the connected TV market is beginning to show its impact.

Portfolio Pulse from Benzinga Neuro

June 14, 2024 | 11:32 am

APD

ESI

Two materials sector stocks, Element Solutions Inc (NYSE:ESI) and Air Products and Chemicals Inc (NYSE:APD), are currently overbought according to their RSI values. ESI has increased its guidance for Q2 and FY24, while APD has signed a significant green hydrogen supply agreement with TotalEnergies SE (NYSE:TTE). Both stocks have seen significant recent gains.

Portfolio Pulse from Avi Kapoor

June 14, 2024 | 11:31 am

VXRT

Vaxart shares are trading higher after the company received a BARDA-funded Project NextGen award valued up to $453 million to conduct a Phase 2b study evaluating its COVID-19 oral pill vaccine candidate.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2024 | 11:24 am

BRK.A

BYDDF

Chinese automakers, led by Warren Buffett-backed BYD, have outsold U.S. brands for the first time, selling 13.4 million vehicles compared to 11.9 million by American brands. This growth is driven by competitive pricing and expansion into emerging markets, despite rising trade tensions and increased tariffs on Chinese EVs.

Portfolio Pulse from Benzinga Neuro

June 14, 2024 | 11:01 am

GLD

SPY

UNG

UUP

On June 13th, U.S. stock markets closed mixed with the Nasdaq and S&P 500 reaching record highs. Economic data showed a drop in U.S. producer prices and a rise in jobless claims. The Federal Reserve held interest rates steady. Most S&P 500 sectors fell, while tech and real estate stocks rose. Asian markets were mixed, with Japan's Nikkei 225 gaining and Australia's S&P/ASX 200 declining. European markets continued to decline, and commodities showed mixed performance. The U.S. Dollar Index advanced.

Portfolio Pulse from Akanksha Bakshi

June 14, 2024 | 11:00 am

RIVN

TSLA

Elon Musk debunked rumors about the decline of Tesla's supercharger network, stating it is continuing to grow. Tesla plans to invest $500 million in expanding the network this year and has started opening it to rival EV makers. Despite layoffs, Tesla maintains its timeline for opening the network to competitors by Spring 2024.

Portfolio Pulse from Anan Ashraf

June 14, 2024 | 10:47 am

PNM

PNM Resources announced that its unit, Texas-New Mexico Power Company (TNMP), received approval for a $15.7 million annual increase in distribution investment recovery, effective July 28, 2024. This approval allows TNMP to recover over $205 million in net distribution infrastructure investments. Recent legislation permits semi-annual filings, reducing regulatory lag and supporting TNMP's investment plan for reliable growth.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2024 | 10:40 am