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Major cryptocurrencies including Bitcoin, Ethereum, and Dogecoin experienced a drop ahead of crucial jobs data. The trial of Sam Bankman-Fried, founder of the defunct cryptocurrency exchange FTX, is currently underway. Crypto analysts predict a bearish trend for Bitcoin, but also note that mid to large-sized wallets have been actively accumulating coins. The S&P 500 and Nasdaq Composite also traded down.

Portfolio Pulse from Mehab Qureshi

October 06, 2023 | 2:50 am

PXD

XOM

Exxon Mobil Corp. is reportedly close to finalizing a $60 billion acquisition deal with Pioneer Natural Resources Co. This deal could transform the U.S. oil landscape and secure Exxon's dominance in the oil-rich Permian Basin. The acquisition would be Exxon's most significant since its 1999 merger with Mobil. The deal could also trigger a wave of consolidation within the shale industry.

Portfolio Pulse from Benzinga Neuro

October 06, 2023 | 2:33 am

LEVI

PEP

RIVN

TSLA

US stocks experienced a slight downturn with the Dow Jones falling around 10 points. Coca-Cola and PepsiCo stocks declined due to decreased shopping demand at Walmart, attributed to the rise of appetite-suppressing medications and the strength in Treasury yields. Levi Strauss's stock dipped following its Q3 earnings report showing a decrease in earnings and sales. Rivian Automotive plunged amidst its announcement of a green convertible senior notes offering. Tesla experienced a minor decline but remains a compelling investment due to upcoming catalysts.

Portfolio Pulse from Benzinga Neuro

October 06, 2023 | 2:17 am

DKNG

FOX

FOXA

The latest betting odds for the 2024 presidential election show Donald Trump as the favorite, with Joe Biden in second place. Florida Gov. Ron DeSantis has seen a drop in support, while Nikki Haley's odds have improved. DraftKings Inc (NASDAQ:DKNG) offers betting for residents of Canada, but not for U.S. residents. The debate between DeSantis and Democratic California Gov. Gavin Newsom will air on Fox News, a unit of Fox Corporation (NASDAQ:FOX)(NASDAQ:FOXA), in November.

Portfolio Pulse from Chris Katje

October 05, 2023 | 11:08 pm

AMZN

BRK-B

TSLA

The Forbes 400 list of the richest people in America includes 400 people from 40 states. The list includes billionaires from various sectors, including technology, retail, finance, and real estate. Notable names include Elon Musk, CEO of Tesla Inc (NASDAQ:TSLA), Jeff Bezos, founder of Amazon.com Inc (NASDAQ:AMZN), and Warren Buffett, CEO of Berkshire Hathaway (NYSE: BRK-A)(NYSE: BRK-B).

Portfolio Pulse from Chris Katje

October 05, 2023 | 10:58 pm

CALM

Cal-Maine Foods Inc (NASDAQ:CALM), the largest egg producer in the U.S., reported Q1 earnings per share and revenue of $459.34 million, both falling short of analysts’ estimates. The company's average selling prices for eggs have returned to more normalized levels after reaching record highs in fiscal 2023. The lower egg prices could hurt Cal-Maine's profit margins. The company recently acquired Fassio Egg Farms, expanding its operations in the western U.S.

Portfolio Pulse from Chris Katje

October 05, 2023 | 10:23 pm

GDX

QQQ

TAN

TLT

UUP

The Bureau of Labor Statistics will release the September jobs report on Friday, which is expected to show a decline in non-farm payrolls from 187,000 in August to 170,000 in September. The report could influence the Federal Reserve's decision on interest rates. Five ETFs that could be impacted by the report are Invesco DB USD Index Bullish Fund (UUP), iShares 20+ Year Treasury Bond (TLT), Invesco QQQ Trust Series 1 (QQQ), Invesco Solar ETF (TAN), and VanEck Gold Miners ETF (GDX).

Portfolio Pulse from Piero Cingari

October 05, 2023 | 10:02 pm

APA

APA Corporation has provided Q3 supplemental information, expecting total adjusted production and adjusted oil production to be in the upper half of its guidance range. However, Q3 Egypt gross oil production was slightly below the company's guidance at approximately 145 thousand barrels per day. Furthermore, Q4 production in the UK North Sea is expected to decrease by 10% to 15% from the third quarter due to unscheduled compressor motor repairs.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 9:58 pm

RIVN

TSLA

Jim Cramer expressed concerns about Rivian Automotive Inc (NASDAQ:RIVN) after the EV company announced a new $1.5 billion offering. Rivian intends to offer $1.5 billion of green convertible senior notes to institutional buyers. Cramer compared the company to Tesla Inc (NASDAQ:TSLA) but retracted his comments, stating that no one's the next Elon Musk. Rivian shares were down more than 22% at the last check and are now on the verge of turning negative for the year.

Portfolio Pulse from Adam Eckert

October 05, 2023 | 9:49 pm

AVAXUSD

Blockchain-based social app Stars Arena has led to a 186% surge in daily transactions on Avalanche’s (CRYPTO: AVAX) C-Chain in the past two days. Stars Arena saw a trading volume exceeding $3.26 million and more than 462,000 transactions. Avalanche's native AVAX token witnessed a surge of more than 8% in the past 24 hours. However, Stars Arena's total value locked is still lower compared to Friend.tech’s.

Portfolio Pulse from Khyathi Dalal

October 05, 2023 | 9:45 pm