Streetbeat News

Stock Prices

ALK

GTLB

JOAN

SAIC

UBER

U.S. stock futures are trading lower on Monday, with key stocks in focus including SAIC expected to report earnings, Alaska Air's acquisition of Hawaiian Holdings, JOANN's expected quarterly loss, Uber joining the S&P 500, and GitLab's upcoming earnings report.

Portfolio Pulse from Lisa Levin

December 04, 2023 | 7:37 am

CULP

ESTC

GTLB

PATH

SAIC

The S&P 500 reached a new high for 2023, reflecting increased investor sentiment as indicated by the CNN Money Fear and Greed index remaining in the 'Greed' zone. Federal Reserve Chair Jerome Powell signaled a readiness to adjust policies if needed. U.S. construction spending rose, while the ISM manufacturing PMI was unchanged. Elastic N.V. and UiPath Inc. saw significant stock gains after reporting strong financial results. The Dow Jones and Nasdaq also closed higher. Investors are looking forward to earnings from SAIC, Culp, Inc, and GitLab Inc.

Portfolio Pulse from Lisa Levin

December 04, 2023 | 7:04 am

BTCUSD

Ric Edelman, founder of Edelman Financial Services, expressed that financial advisors are eager to offer spot bitcoin ETFs to their clients, pending SEC approval. A survey indicated that 77% of advisors are ready to include spot Bitcoin ETFs in their clients' portfolios, and 47% already hold Bitcoin. Bloomberg ETF analyst Eric Balchunas gave a 90% chance of SEC approval for spot bitcoin ETFs by Jan. 10. Bitcoin's price recently surpassed $40,000, partly due to anticipation of SEC approval for a Bitcoin Spot ETF.

Portfolio Pulse from Benzinga Neuro

December 04, 2023 | 7:03 am

MRUS

Merus N.V. presented updated clinical data on its cancer treatment drug MCLA-129 at ESMO Asia 2023. The data could potentially impact the company's stock as investors react to the progress and potential of MCLA-129 in the oncology market.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 6:56 am

AMZN

META

MSFT

NVDA

The S&P 500 and Nasdaq 100 experienced significant growth in 2023, with the S&P 500 growing by 20% and the Nasdaq 100 by 46%. Notably, Nvidia Corp. saw a 220% increase in its share price, while Microsoft, Amazon, and Meta Platforms also enjoyed substantial gains. A Bloomberg survey indicates that 63% of participants are optimistic about 2024, expecting stronger returns due to potential interest rate reductions by the Federal Reserve. AI is considered the most promising investment trend, despite concerns over inflation and high living costs. Opinions on Big Tech investments are divided, with some experts urging caution for 2024.

Portfolio Pulse from Benzinga Neuro

December 04, 2023 | 6:50 am

BTCUSD

GLD

Robert Kiyosaki, author of 'Rich Dad Poor Dad,' criticized President Joe Biden, calling him the 'worst and weakest' president and urging his followers to buy Bitcoin, Gold, and Silver. Kiyosaki linked his decision to buy an electric vehicle to the Israel-Hamas conflict, which he attributes to oil. He blames Biden for higher gas prices, which he says will hurt the poor and please 'liberal woke Greenies.' His comments come as Bitcoin surpasses $40,000 and Gold trades above $2,100 for the first time.

Portfolio Pulse from Benzinga Neuro

December 04, 2023 | 3:33 am

BTCUSD

DOGEUSD

ETHUSD

Bitcoin surpassed the $40,000 mark, with Ethereum and Dogecoin also experiencing price increases. The global cryptocurrency market cap rose to $1.51 trillion. The rally is partly attributed to expectations of a Bitcoin Spot ETF approval by the SEC. Gold prices reached a record high, but Bitcoin's rise was not seen as impressive by gold bull Peter Schiff. Analyst Michaël van de Poppe and market intelligence platform Santiment suggest that FUD and FOMO related to the ETF could influence whether Bitcoin reaches $50K soon.

Portfolio Pulse from Shivdeep Dhaliwal

December 04, 2023 | 2:47 am

GBTC

Peter Schiff, a well-known economist and cryptocurrency critic, has emphasized the significance of gold reaching record highs over Bitcoin's performance. Schiff highlighted that gold trading above $2,100 is more noteworthy than Bitcoin trading above $40K, as gold has entered uncharted territory while Bitcoin is still far from its high. He suggests that the strength of gold, even with a flat U.S. dollar, is bullish for the metal and could indicate a potential fall in the dollar. Schiff has been vocal about his skepticism towards Bitcoin, warning of a potential crash before the launch of BlackRock's Bitcoin ETF and a possible selloff if the Grayscale Bitcoin Trust converts to an ETF.

Portfolio Pulse from Benzinga Neuro

December 04, 2023 | 1:40 am

SPY

The S&P 500 has recovered from its 2022 downturn and is expected to end the year positively. Analysts have revised their 2023 forecasts upwards, with the most bullish prediction from Fund Strat's Tom Lee at 4,825. For 2024, forecasts are mixed, with JPMorgan being the most pessimistic at 4,200 and Capital Economics the most bullish at 5,500. The recent rally is attributed to expectations of Fed rate cuts. The SPDR S&P 500 ETF Trust (SPY) reflects this optimism, closing up 0.59% at $459.10.

Portfolio Pulse from Shanthi Rexaline

December 03, 2023 | 8:40 pm

ALK

Alaska Air (NYSE:ALK) plans to acquire Hawaiian Airlines (NASDAQ:HA) for $1.9 billion, retaining both brands and aiming to enhance customer options and competition against major airlines. The CEOs of both companies are optimistic about the deal's benefits for investments and market competition.

Portfolio Pulse from Benzinga Neuro

December 03, 2023 | 8:13 pm