Streetbeat News

Stock Prices

BCH

Bitcoin Cash (BCH) is down 5.9% to $591.63, moving in tandem with a broader cryptocurrency market downturn led by a 6% fall in Bitcoin over the past week. The decline in Bitcoin often signals bearish sentiment across the market, affecting altcoins like Bitcoin Cash. Additionally, Bitcoin's role as a common trading pair for Bitcoin Cash on exchanges means its price drop directly impacts Bitcoin Cash's value.

Portfolio Pulse from Henry Khederian

April 03, 2024 | 4:17 pm

IYF

IYG

JPM

JPMorgan Chase & Co. (NYSE:JPM) has launched Chase Media Solution, a new digital media business aimed at connecting brands directly with its 80 million customers. The platform leverages Chase's retail media network and transaction data for targeted customer engagement. This initiative follows the integration of Figg, acquired in 2022. Investors can also gain exposure to JPM through IShares U.S. Financial Services ETF (NYSE:IYG) and IShares U.S. Financial ETF (NYSE:IYF). JPM shares saw a slight decrease of 0.12% to $198.62.

Portfolio Pulse from Lekha Gupta

April 03, 2024 | 4:17 pm

SOFI

SoFi Technologies' stock price increased following Needham's initiation of coverage with a Buy rating and a $10 price target.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 4:16 pm

RDDT

Reddit shares are experiencing a decline in value due to ongoing volatility after the company's recent debut on the NYSE.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 4:13 pm

SPY

Fed Chair Powell stated that the economic outlook remains uncertain, with risks on both sides of its mandate. However, these risks are moving into better balance. The Fed believes the policy rate is likely at its peak for this cycle, emphasizing the importance of avoiding 'mission creep' to maintain public trust.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 4:13 pm

EDBL

Edible Garden's shares are trading higher following the announcement of a new initiative for vertical integration at its Edible Garden Heartland facility in Grand Rapids, Michigan. This initiative will enable the company to move the production of its potted herbs from contract-growers to in-house production.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 4:11 pm

SPY

Fed Chair Powell indicated that if the economy progresses as anticipated, most FOMC participants believe it may be appropriate to start reducing the policy rate later this year. However, this decision hinges on gaining more confidence that inflation is on a sustainable path back to the 2% target.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 4:11 pm

MPC

XLE

XOM

Oil prices are expected to reach $95 per barrel this summer due to tight supply, increasing demand, and geopolitical tensions, according to Francisco Blanch of Bank of America. Factors influencing this projection include low inventories, OPEC+ production cuts, geopolitical issues, and economic growth. U.S. energy stocks, particularly in the Energy Select Sector SPDR Fund (XLE), Exxon Mobil Corp. (XOM), and Marathon Petroleum Corporation (MPC), have seen significant gains with oil's price surge.

Portfolio Pulse from Piero Cingari

April 03, 2024 | 4:06 pm

ALDX

Aldeyra Therapeutics' stock (ALDX) trades higher following an upgrade from Perform to Outperform by Oppenheimer, with a new price target of $10.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 4:02 pm

ABIO

CASA

KTRA

SINT

VIEW

VNDA

U.S. stocks traded higher with the Nasdaq gaining over 0.5%. Industrials shares led gains, while consumer staples fell. Kintara Therapeutics, ARCA biopharma, and Vanda Pharmaceuticals surged on positive news, whereas Casa Systems, View, Inc., and Sintx Technologies plummeted due to financial distress. The ISM services PMI declined, and oil prices rose.

Portfolio Pulse from Avi Kapoor

April 03, 2024 | 4:01 pm