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GLD

QQQ

SPY

TLT

XLE

The University of Michigan's April report on U.S. consumer confidence revealed a decline in sentiment and an increase in inflation expectations, causing stocks to fall and gold to surge above $2,400. The consumer sentiment index dropped to 77.9, missing expectations, with sub-indexes for consumer expectations and current conditions also declining. Year-ahead inflation expectations rose to 3.1%, and long-term expectations to 3%. The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust (QQQ) saw declines, while the SPDR Gold Trust (GLD) and iShares 20+ Year Treasury Bond ETF (TLT) increased in value. The Energy Select Sector SPDR Fund (XLE) was the only sector ETF to trade in the green, supported by rising oil prices.

Portfolio Pulse from Piero Cingari

April 12, 2024 | 2:30 pm

JANX

Janux Therapeutics shares are experiencing an increase in value due to ongoing momentum from reports on Wednesday indicating that the company is considering a potential sale.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 2:29 pm

AMD

BABA

BIDU

INTC

PDD

Alibaba Group Holding Limited (NYSE:BABA) and its Chinese peers, including Baidu, Inc (NASDAQ:BIDU), JD.Com, Inc (NASDAQ:JD), and PDD Holdings Inc (NASDAQ:PDD), are trading lower amid China's retaliation against U.S. semiconductor sanctions. This includes directives to phase out foreign processors by 2027, impacting Intel Corp (NASDAQ:INTC) and Advanced Micro Devices, Inc (NASDAQ:AMD), with both companies seeing revenue reductions in China. Alibaba has also reduced its cloud service prices internationally by up to 59% due to competitive pressures and U.S. sanctions.

Portfolio Pulse from Anusuya Lahiri

April 12, 2024 | 2:29 pm

COIN

Pepe Coin perpetual futures will be listed on Coinbase International Exchange, sparking optimism among traders. The listing is set for April 18, with speculation about further listings on Coinbase Spot and Robinhood. Comparisons to Dogecoin's 2021 surge and a significant increase in trading volume and transactions over $100,000 highlight Pepe's growing interest. IntoTheBlock data shows 75% of Pepe holders are profitable, with a notable increase in trading volume outpacing Shiba Inu and Dogwifhat.

Portfolio Pulse from Khyathi Dalal

April 12, 2024 | 2:28 pm

PGR

Progressive Corp (NYSE:PGR) reported a significant increase in Q1 fiscal 2024 earnings with net income per share rising to $3.94 from $0.75 a year ago. Adjusted EPS was $3.73, beating consensus estimates of $3.21. Net premiums earned and written rose by 19% and 18% YoY, respectively. Total revenues increased by 20.5% YoY to $17.24 billion, and net income surged by 420.5% YoY to $2.33 billion. The company also reported a lower combined ratio of 86.1% and held $64.956 billion in available-for-sale securities. Following these results, PGR shares are up 2.16% at $206.63.

Portfolio Pulse from Akanksha Bakshi

April 12, 2024 | 2:27 pm

USO

Oil prices are on the rise due to increasing tensions between Israel and Iran, leading to concerns over potential supply disruptions.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 2:25 pm

AMD

BOTZ

INTC

NVDA

SMH

China is phasing out foreign processors from its telecom systems by 2027, impacting AMD and Intel significantly as they are major suppliers. This move aligns with China's goal to use domestic chips, challenging the dominance of American semiconductor companies in its largest market. Nvidia, despite U.S. sanctions, remains competitive by adapting its products for the Chinese market and maintaining its lead in AI chips. AMD and Intel are shifting focus to AI in personal computers. Nvidia, AMD, and Intel stocks traded lower following these developments.

Portfolio Pulse from Anusuya Lahiri

April 12, 2024 | 2:24 pm

SLV

Silver prices are on the rise, reflecting an increased interest in precious metals and safe-haven assets among investors.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 2:24 pm

AGX

CLNE

CPNG

Argan, Inc. reported better-than-expected fourth quarter earnings, leading to a 21.5% rise in its stock price. Other stocks like Globe Life, Lyell Immunopharma, and AMTD Digital also saw significant gains amid various market activities. Coupang announced a membership fee increase, contributing to a 10.3% stock price rise. Clean Energy Fuels and other companies are expected to release financial results soon, influencing their stock movements.

Portfolio Pulse from Avi Kapoor

April 12, 2024 | 2:19 pm

ZTS

Deep-pocketed investors have shown a significant interest in Zoetis (NYSE:ZTS), with a bullish sentiment prevailing among 53% of them according to Benzinga's options scanner. The options market activity for Zoetis has been extraordinary, with 32 notable activities, including 29 puts and 3 calls. The targeted price range for Zoetis over the last 3 months is between $115.0 and $175.0. Currently, Zoetis's stock is down by -7.43%, trading at $150.65, with an anticipated earnings release in 20 days. A market expert from Stifel maintains a Buy rating on Zoetis with a target price of $195.

Portfolio Pulse from Benzinga Insights

April 12, 2024 | 2:18 pm