Streetbeat News

Stock Prices

QQQ

SPY

Wall Street anticipates a higher opening on Friday, recovering from a previous session sell-off, despite ongoing concerns about potential interest rate hikes. The focus is on the non-farm payrolls report, which could influence market sentiment. Analysts suggest that while strong job data might cause a temporary pullback, a significant rise in average hourly earnings could heighten fears of aggressive rate hikes by the Federal Reserve. The market is also attentive to upcoming Federal Reserve officials' speeches. The CBOE Volatility Index (VIX) indicates increased market volatility. Futures data shows positive movement in major indexes and ETFs like SPY and QQQ in premarket trading. Comments from Fed officials have recently spooked the market, leading to significant losses. Analysts advocate a 'buy-the-dip' strategy, noting key support levels for the S&P 500 and emphasizing the market's sensitivity to inflation and rate hike expectations.

Portfolio Pulse from Shanthi Rexaline

April 05, 2024 | 11:12 am

CADL

Candel Therapeutics' shares are experiencing an uptrend following the announcement of positive interim data from a phase 2 clinical trial of CAN-2409 for treating non-metastatic prostate cancer.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 11:12 am

DNUT

Krispy Kreme's stock (DNUT) experienced a rise after Piper Sandler upgraded its rating from Neutral to Overweight and increased the price target from $14 to $20.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 11:06 am

AMZN

FTEC

MSFT

XLK

Microsoft Corp (NASDAQ:MSFT) is under antitrust investigation in South Africa for its cloud computing licensing practices, similar to an ongoing EU case. The EU investigation, prompted by complaints from CISPE and other cloud providers, focuses on Microsoft's licensing terms potentially harming Europe's cloud ecosystem. Microsoft is negotiating with CISPE to avoid an EU investigation that could lead to fines and operational changes. The EU is also examining Microsoft's investment in OpenAI and complaints about Microsoft Teams. Microsoft plans to sell Teams separately from its Office suite globally in response to an EU investigation. MSFT stock has gained 47% in the last 12 months, and exposure to MSFT can be gained through SPDR Select Sector Fund – Technology (NYSE:XLK) and Fidelity MSCI Information Technology Index ETF (NYSE:FTEC).

Portfolio Pulse from Anusuya Lahiri

April 05, 2024 | 11:03 am

LMT

Jim Cramer, host of Mad Money, expressed concern over Lockheed Martin Corporation's (NYSE:LMT) stock rally, suggesting it's not a positive sign. The stock had gained 1.37% on Thursday. Users on X mocked Cramer's statement, with one thanking him for 'stopping WW3' with his tweet.

Portfolio Pulse from Benzinga Neuro

April 05, 2024 | 10:53 am

AAPL

DIS

Bob Iger, CEO of The Walt Disney Co. (NYSE:DIS), once believed that a merger between Disney and Apple Inc. (NASDAQ:AAPL) would have been likely if Steve Jobs had not passed away. In his 2019 book, Iger expressed that Jobs's death prevented discussions about merging the two companies, despite their later competitive positions with the launch of Disney+ and Apple TV+. Iger's relationship with Jobs, including Disney's acquisition of Pixar, is highlighted as a foundation for this belief. Despite the speculation, Iger clarified he never discussed the merger idea with Jobs. The article also touches on Disney's recent proxy battle with Nelson Peltz, indicating Disney's leadership is confident in its current strategy without seeking major changes like a merger with Apple.

Portfolio Pulse from Rounak Jain

April 05, 2024 | 10:49 am

GLD

SPY

USO

Global markets experienced declines with the U.S. stock markets ending lower due to cautious statements from Federal Reserve officials and anticipation for the U.S. jobs report. The S&P 500 sectors all saw declines, particularly in technology, while defense shares gained. Asian markets also fell, notably Japan's Nikkei 225. European markets and commodities like crude oil and gold saw mixed results. U.S. futures indicated a slight uptick in early trading.

Portfolio Pulse from Akanksha Bakshi

April 05, 2024 | 10:48 am

SHEL

Shell plc (NYSE:SHEL) updated its Q1 FY24 operational outlook, indicating lower LNG trading results but improved production and refinery utilization. Integrated Gas production is expected to be 960-1,000 thousand boe/d, with LNG liquefaction volumes at 7.2-7.6 MT. Upstream production guidance is narrowed to 1,820-1,920 thousand boe/d, with significant exploration write-offs in Albania. Marketing sales volume guidance is slightly reduced, while Chemicals & Products sees increased refinery and chemicals utilization. Q4 FY23 revenue was $78.73 billion, below consensus, but adjusted earnings per ADS exceeded expectations. SHEL shares rose 0.41% in premarket trading.

Portfolio Pulse from Lekha Gupta

April 05, 2024 | 10:45 am

FOXA

Seaport Global analyst David Joyce upgrades Fox Corporation (NASDAQ:FOXA) from Neutral to Buy and sets a price target of $37.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 10:35 am

TDOC

Teladoc Health has reiterated its financial guidance for both the first quarter and the full year of 2024, indicating confidence in its business outlook.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 10:33 am