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US stocks are poised for a strong start as traders anticipate dovish comments from Fed Chair Jerome Powell at Jackson Hole. Nvidia's earnings are expected to reinforce the strength of tech stocks. SPDR S&P 500 ETF Trust and Invesco QQQ ETF showed gains in premarket trading. Several companies, including BILL Holdings, CAVA Group, Ross Stores, and Workday, saw significant premarket movements following earnings announcements.

Portfolio Pulse from Shanthi Rexaline

August 23, 2024 | 10:39 am

FUBO

FuboTV Inc. (NYSE:FUBO) has launched BKFC TV, a new free ad-supported streaming channel for Bare Knuckle Fighting Championship (BKFC), expanding its combat sports content. This move aims to leverage the growing popularity of combat sports. FuboTV recently reported a 25% year-over-year sales growth, beating analyst expectations.

Portfolio Pulse from Lekha Gupta

August 23, 2024 | 10:37 am

NVDA

Market analyst Peter Boockvar suggests that Nvidia's upcoming earnings report is more significant for Wall Street than Federal Reserve Chair Jerome Powell's speech at the Jackson Hole Economic Symposium. Boockvar believes Nvidia's results will have a greater impact on the market than Powell's commentary on interest rates.

Portfolio Pulse from Benzinga Neuro

August 23, 2024 | 10:19 am

FLOKIUSD

Floki has decided to invest $200,000 in Simon's Cat token, leading to a 72% increase in CAT's price and a 4% rise in FLOKI's price. This move is part of Floki's strategy to expand its ecosystem beyond being a meme coin.

Portfolio Pulse from Aniket Verma

August 23, 2024 | 9:24 am

UUP

David Mericle, chief U.S. economist at Goldman Sachs, predicts a 25 basis point rate cut in September and expects a dovish tone from Fed Chair Jerome Powell at the Jackson Hole Symposium. This has led to a decline in the U.S. dollar index, impacting the Invesco DB USD Index Bullish Fund ETF.

Portfolio Pulse from Benzinga Neuro

August 23, 2024 | 9:10 am

TSLA

China is advancing rapidly in the development of battery-powered humanoid robots, competing with Tesla's efforts in the same field. The World Robot Conference in Beijing highlighted China's progress, supported by a $1.4 billion state-backed fund. Tesla's Optimus robot remains a significant influence despite competition from Chinese companies.

Portfolio Pulse from Benzinga Neuro

August 23, 2024 | 8:04 am

Zhihu reported a significant improvement in its Q2 adjusted EPS, reducing losses from $(0.30) to $(0.07) per share year-over-year. The company's sales of $128.50 million exceeded analyst expectations of $121.40 million, despite a 10.77% decrease from the previous year.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2024 | 6:59 am

ARKK

NVDA

Cathie Wood's Ark Invest has divested its entire stake in Zoom Video Communications from its ARK Innovation ETF, following a similar exit from Nvidia earlier this year. Despite Zoom's recent 13% rally, the stock has been underperforming since its pandemic peak. ARKK has also seen a significant decline, down nearly 3% on Thursday and over 15% year-to-date.

Portfolio Pulse from Shanthi Rexaline

August 23, 2024 | 6:46 am

SONY

Sony Group Corp. has announced the launch of its Ethereum Layer-2 blockchain, Soneium, developed in collaboration with Startale Labs. This move is part of Sony's strategy to enter the Web3 space, offering Web3 games, NFT marketplaces, and entertainment services. A test version will be available soon, but the mainnet launch date is undisclosed. This follows Sony's recent launch of S.BLOX Inc., a revamped cryptocurrency exchange.

Portfolio Pulse from Aniket Verma

August 23, 2024 | 6:42 am

PTON

WSM

U.S. stocks closed lower as investors await Fed Chair Jerome Powell's speech at the Jackson Hole Economic Symposium. Williams-Sonoma shares fell over 9% after Q2 results, while Peloton shares surged 35% on better-than-expected earnings. The CNN Money Fear and Greed index remained in the 'Neutral' zone.

Portfolio Pulse from Avi Kapoor

August 23, 2024 | 6:40 am