Streetbeat News

Stock Prices

DJIA

The unwinding of the Japanese yen carry trade, driven by the Bank of Japan's interest rate hike, may prompt the Federal Reserve to consider a significant rate cut. Economist Joe Brusuelas suggests a fifty basis point cut could be on the table if market conditions worsen. The Dow Jones Industrial Average has already fallen 2.4%, and the Global X Dow 30 Covered Call ETF (NYSE:DJIA) has declined 1.71%.

Portfolio Pulse from Michael Juliano

August 05, 2024 | 7:54 pm

PLD

Prologis shares are trading lower following a downgrade by RBC from Outperform to Sector Perform.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 7:50 pm

T

AT&T Inc (NYSE:T) shares are trading lower by 2.7% amid overall market weakness, driven by a selloff in tech stocks and concerns over an economic slowdown. The company's significant debt load and sensitivity to interest rate changes are contributing factors to the decline.

Portfolio Pulse from Henry Khederian

August 05, 2024 | 7:49 pm

BTCUSD

DOGEUSD

PEPEUSD

SHIBUSD

Crypto trader CryptoKaleo believes the 'memecoin supercycle' is still in play despite the recent crypto market crash. He predicts that as the dollar weakens, money will flow into equities, Bitcoin, and major blockchains, with retail investors gravitating towards meme coins. The meme coin market capitalization is currently $37 billion, down 13% in the past 24 hours. Despite recent corrections, meme coins like Dogecoin, Shiba Inu, and Pepe have shown significant long-term gains.

Portfolio Pulse from Khyathi Dalal

August 05, 2024 | 7:48 pm

ETCUSD

Ethereum Classic (ETC) is experiencing significant volatility, trading 8.1% lower at $17.90. This is amid global market fluctuations, including a 13% drop in Japan's Nikkei 225 and concerns about a global recession, geopolitical tensions, and economic policies. Leveraged position liquidations in major cryptocurrencies have also contributed to the price drop.

Portfolio Pulse from Henry Khederian

August 05, 2024 | 7:47 pm

META

NFLX

SNAP

T

VZ

Shares in the broader communication services sector are trading lower due to concerns over the US economy.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 7:45 pm

DVN

Devon Energy's (NYSE:DVN) short interest has risen by 4.2%, with 16.38 million shares sold short, representing 2.98% of its float. This increase in short interest suggests a more bearish sentiment among investors. However, Devon Energy's short interest is still lower than the peer group average of 6.38%.

Portfolio Pulse from Benzinga Insights

August 05, 2024 | 7:45 pm

BTCUSD

Vice President Kamala Harris and former President Donald Trump have sparked debate in the cryptocurrency community with their differing views on Bitcoin and crypto policies. Harris's outreach to the crypto community is seen as political maneuvering by some, while Trump’s radical ideas on using Bitcoin to pay off national debt have been criticized by economists. Harris's potential anti-crypto running mate and Trump's past increase in national debt add complexity to their stances.

Portfolio Pulse from Abbey Higginbotham

August 05, 2024 | 7:45 pm

SAVA

Cassava Sciences, Inc. (NASDAQ:SAVA) shares are trading higher due to an upcoming conference call, extended trials for simufilam, and the passing of a long-time board member. Analysts expect an EPS loss of 40 cents.

Portfolio Pulse from Vaishali Prayag

August 05, 2024 | 7:44 pm

AMD

NVDA

Nvidia (NVDA) faces potential delays in its Blackwell architecture, but Goldman Sachs advises investors to stay the course, viewing any short-term stock volatility as a buying opportunity. The delay is not expected to impact Nvidia's 2025 earnings or market dominance. Meanwhile, AMD (AMD) might see a marginal positive impact as an alternative in Data Center GPUs.

Portfolio Pulse from Surbhi Jain

August 05, 2024 | 7:35 pm