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China's Q2 GDP growth was reported at 0.8% quarter-on-quarter, beating the estimate of 0.5% and the prior figure of 2.2%. However, the year-on-year GDP growth was 6.3%, lower than the estimated 7.3% and higher than the prior 4.5%.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 4:22 am

FXI

China's Fixed Asset Investment (YoY) for June was reported at 3.8%, slightly higher than the estimated 3.5% but lower than the previous 4.0%.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 4:21 am

BTCUSD

DOGEUSD

ETHUSD

Major cryptocurrencies including Bitcoin, Ethereum, and Dogecoin experienced a decline following an unexpected rally in crypto prices last week, triggered by a favorable ruling in the Ripple-SEC case. The court declared that the sale of XRP tokens does not constitute investment contracts, leading to a 73% surge in XRP. Analysts predict that XRP will become a top 3 coin again within the next 6-12 months.

Portfolio Pulse from Mehab Qureshi

July 17, 2023 | 3:01 am

ARKK

COIN

ROKU

TSLA

Cathie Wood's flagship exchange-traded fund, the ARK Innovation ETF (ARKK), has seen a net withdrawal of $717 million from investors over the past year, despite a rally of over 50% this year. The fund's assets under management have shrunk from nearly $30 billion to approximately $9 billion, largely due to investment losses. The fund's top holdings include Tesla Inc (TSLA), Coinbase Global, Inc. (COIN), Roku Inc (ROKU), Zoom Video Communications (ZM), and Block Inc (SQ).

Portfolio Pulse from Ramakrishnan M

July 17, 2023 | 1:42 am

CRLBF

A car crashed into the Sunnyside Medical Cannabis Dispensary in Daytona Beach, Florida, causing significant damage to the building and surrounding areas. The dispensary is owned by Cresco Labs (OTCQX: CRLBF). The crash resulted in cosmetic and minor structural damage, but no serious injuries were reported. The company is working to reopen the shop as soon as possible.

Portfolio Pulse from Maureen Meehan

July 16, 2023 | 10:58 pm

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IBM

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The Q2 reporting season has begun with earnings reports from big banks and blue-chip stocks. The blended earnings of S&P 500 companies are expected to drop 7.1% YoY in Q2, marking the third consecutive quarter of negative earnings growth. Financial and tech earnings will headline the coming week's news. Companies reporting include Bank of America, Bank Of New York Mellon, Morgan Stanley, PNC Financial Services Group, Goldman Sachs, U.S. Bancorp, American Express, IBM, Netflix, Tesla, Nokia, Taiwan Semiconductor Manufacturing Company, United Airlines, Alcoa, Discover Financial Services, Travelers Companies, Johnson & Johnson, American Airlines, D.R. Horton, and Schlumberger. The SPDR S&P 500 ETF Trust ended Friday’s session at $449.19, down 0.02%.

Portfolio Pulse from Shanthi Rexaline

July 16, 2023 | 9:42 pm

UPS

Rep. Alexandria Ocasio-Cortez visited a UPS hub to support workers who authorized their union to call a strike as soon as Aug. 1. The strike could be the largest labor strike in the U.S. in decades. The union's contention revolves around securing higher pay and more full-time jobs for employees. UPS's 2022 profits were nearly $14 billion. Some estimates put the economic impact of a 10-day strike at more than $7 billion. UPS carries 6% of America’s gross domestic product in its trucks.

Portfolio Pulse from Maureen Meehan

July 16, 2023 | 8:27 pm

META

Meta Platforms Inc.'s social media app Threads has seen a drop in daily active users and time spent on the app, despite reaching 100 million users in five days. Twitter founder Jack Dorsey mocked Meta CEO Mark Zuckerberg for sending a follow request on Threads. Dorsey has previously criticized Meta's product for resembling Twitter.

Portfolio Pulse from Bibhu Pattnaik

July 16, 2023 | 6:29 pm

RIVN

TSLA

Tesla has announced the first Cybertruck has rolled off the Giga Texas production line. Analyst Gary Black predicts the Cybertruck will be priced just above the Model Y, with the three variants priced at $49,900, $59,900, and $79,900 respectively. This pricing will allow all trims of Cybertruck to qualify for the $7,500 electric vehicle tax credit under the Inflation Reduction Act of 2022. Black also expects the Cybertruck to compete well against Rivian's R1T electric pickup truck and Ford's F150 Lightning electric pickup truck.

Portfolio Pulse from Shanthi Rexaline

July 16, 2023 | 6:14 pm

ODD

ODDITY Tech Ltd (NASDAQ:ODD) is set to become publicly listed on July 19, 2023, with a price range set between $27.00 and $30.00. The company will be offering 10,526,000 shares at a per-share value of $28.50. The IPO comes with a 180-day lockup period.

Portfolio Pulse from Benzinga Insights

July 16, 2023 | 6:13 pm