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MCHI

Strategists warn that the unwinding of Chinese yuan carry trades could pose a new threat to global markets, similar to the recent yen carry trade unwinding. Citigroup strategists highlight that while the positioning in yen is not extreme, the yuan carry trades are still crowded. The iShares MSCI China ETF (NASDAQ:MCHI) saw a slight decline amid these concerns.

Portfolio Pulse from Shanthi Rexaline

August 07, 2024 | 8:43 am

TSLA

Tesla CEO Elon Musk emphasized the need to make the Cybertruck more affordable in the future. The company plans to introduce a lower-priced version in 2025. Tesla is ramping up production with a goal of delivering 250,000 units starting in 2025 and aims for Cybertruck profitability by the end of the year. The use of in-house dry cathode 4680 cells is expected to reduce costs significantly.

Portfolio Pulse from Anan Ashraf

August 07, 2024 | 8:10 am

BTCUSD

Bitcoin whales have accumulated nearly $23 billion worth of BTC in the past month, indicating a potential accumulation phase. Despite recent market volatility, Bitcoin has shown signs of recovery, with its price increasing by 14% to $56,703. Experts predict further market volatility, but long-term indicators remain bullish.

Portfolio Pulse from Benzinga Neuro

August 07, 2024 | 8:05 am

DIS

Economist Peter Schiff criticized the Federal Reserve's inflation management strategy, using the recent price hikes of Disney+ and Hulu as an example. Schiff sarcastically thanked Fed Chair Jerome Powell for bringing inflation 'close enough to 2%' to initiate interest rate cuts, suggesting that if inflation were still around 5%, Disney might have increased prices by 50%. Starting October 17, Disney+ with ads will cost $9.99 per month, a 25% increase, while the ad-free version will rise by 14% to $15.99 per month.

Portfolio Pulse from Ananya Gairola

August 07, 2024 | 8:02 am

TSLA

Tesla Inc. (NASDAQ:TSLA) has lost a major European customer, Rossmann, due to CEO Elon Musk's endorsement of Donald Trump. Rossmann, a Germany-based pharmacy chain, decided to stop purchasing Tesla EVs, citing a contradiction between Musk's political support and Tesla's environmental values. This decision, although involving a small number of vehicles, underscores the potential global impact of Musk's political choices on Tesla's business. Tesla's stock was trading 2.77% lower in the after-hours market following the news.

Portfolio Pulse from Benzinga Neuro

August 07, 2024 | 7:58 am

AAPL

XIACF

Apple's operating margins in Greater China have hit a near decade-low due to iPhone discounting and a weaker yuan, according to Morgan Stanley analyst Erik Woodring. Despite this, Apple's Services segment showed strong growth driven by advertising, App Store, and Cloud. Apple shipped 45.6 million units in the June quarter, but its market share slipped as Chinese competitors like Xiaomi reported higher growth rates.

Portfolio Pulse from Shanthi Rexaline

August 07, 2024 | 7:56 am

LYFT

Lyft, Inc. (NASDAQ:LYFT) is set to release its Q2 earnings on August 7, with analysts expecting an EPS of 19 cents and revenue of $1.39 billion. Recent analyst ratings show a mix of Neutral and Outperform ratings with increased price targets. Lyft shares recently gained 3.8% to close at $10.97.

Portfolio Pulse from Avi Kapoor

August 07, 2024 | 7:09 am

TSLA

Tesla Inc. (NASDAQ:TSLA) is recalling 1.7 million vehicles in China due to concerns that the front trunk may open while driving, potentially causing crashes. This follows a similar recall of 1.8 million vehicles in the U.S. The issue will be addressed via an over-the-air software update.

Portfolio Pulse from Anan Ashraf

August 07, 2024 | 7:04 am

SONY

Sony Group has provided its fiscal 2024 outlook, expecting sales of ¥12.61 trillion ($79.64 billion) and adjusted EBITDA of ¥1.99 trillion ($13.31 billion). The company has reiterated its operating margin of 10.4%.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 7:01 am

CAT

CVS

DIS

MCK

META

NVDA

YUM

The Dow Jones snapped a 3-session losing streak as tech stocks like Nvidia and Meta surged. The CNN Money Fear and Greed index showed slight improvement but remained in the 'Extreme Fear' zone. The U.S. trade deficit shrank to $73.1 billion in June. Caterpillar and Yum! Brands reported better-than-expected earnings. Investors are awaiting earnings from McKesson, Disney, and CVS Health.

Portfolio Pulse from Avi Kapoor

August 07, 2024 | 6:47 am