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ADBE

AZN

BABA

DIA

GDX

SPY

The US manufacturing sector reached an 18-month high in March 2024, driven by strong performances in the SPDR Dow Jones Industrial Average ETF (DIA) and the SPDR S&P 500 (SPY). China's manufacturing growth could lead to global deflation, benefiting Alibaba Group Holding (BABA) and the VanEck Gold Miners ETF (GDX). The US labor market saw significant growth, with companies like AstraZeneca (AZN) and Adobe (ADBE) contributing. Critiques were made against the Federal Reserve's data-dependent strategy, and warnings were issued about a potential US debt crisis by 2025.

Portfolio Pulse from Benzinga Neuro

April 07, 2024 | 10:03 am

AAPL

AMZN

GOOGL

MSFT

TSLA

This week in tech, Apple Inc. outperformed OpenAI with its new AI model ReALM, Amazon faced scrutiny over its 'Just Walk Out' technology, Cathie Wood of Ark Invest showed strong support for Tesla, predicting a significant stock price increase, OpenAI is poaching Tesla engineers, and Dan Ives of Wedbush predicts a 15% tech stock rally in 2024, highlighting Alphabet Inc.'s potential.

Portfolio Pulse from Benzinga Neuro

April 07, 2024 | 6:28 am

BTCUSD

DOGEUSD

Dogecoin (DOGE) experienced a significant price increase of 8.3%, reaching $0.196, driven by whale transactions and a concurrent rise in Bitcoin (BTC). The movement of 200 million DOGE from Robinhood to an unknown wallet, along with other large transactions, contributed to this surge. Bitcoin's performance often influences the broader cryptocurrency market, potentially signaling the start of an 'altcoin season' where alternative cryptocurrencies like Dogecoin see increased investment and price gains.

Portfolio Pulse from Henry Khederian

April 07, 2024 | 3:24 am

TSLA

Cathie Wood, CEO of ARK Invest, praised Elon Musk's impact on technology and humanity at a conference in Kiawah, S.C. She remains optimistic about Tesla (TSLA) and its role in the autonomous vehicle sector, despite skepticism and weaker-than-expected orders. Wood views Tesla as a leader in robotics, energy storage, and AI, contrasting with traditional auto giants' retreat from EVs. She also highlighted the importance of X (formerly Twitter) for sharing ARK Invest's research. Despite ARK Invest's volatility, Wood continues to advocate for investments in disruptive technologies, comparing early criticisms of crypto to those once against the internet.

Portfolio Pulse from Bibhu Pattnaik

April 06, 2024 | 8:38 pm

APO

PARA

Paramount Global (NASDAQ:PARA) is in exclusive negotiations to be sold to Skydance Media, with a potential deal involving over $2 billion in cash for National Amusements, controlled by Shari Redstone, and a subsequent all-stock transaction worth approximately $5 billion for the acquisition of Skydance by Paramount. This deal could dilute the ownership of nonvoting shareholders. Apollo Global Management, Inc. (NYSE:APO) also submitted a $26 billion bid for Paramount, which includes the assumption of debt, potentially impacting the negotiations with Skydance. The merger could enhance Paramount's flexibility in managing major franchises.

Portfolio Pulse from Nabaparna Bhattacharya

April 06, 2024 | 6:28 pm

ABNB

ALK

AMZN

CHH

TGT

UAL

WMT

The upcoming solar eclipse on April 8 is expected to boost the U.S. economy by $1.5 billion, particularly benefiting businesses in the eclipse's path. Historical data shows a positive correlation between solar eclipses and the Dow Jones Industrial Average's performance, with the Dow ending higher in 10 out of 13 total solar eclipse years since 1900. Companies like Airbnb, Choice Hotels International, United Airlines, Alaska Airlines, Amazon, Walmart, and Target are experiencing increased demand due to the eclipse, with significant surges in bookings, occupancy rates, and sales of eclipse-related products.

Portfolio Pulse from Bibhu Pattnaik

April 06, 2024 | 4:40 pm

DOGEUSD

Dogecoin (DOGE) experienced a significant price surge, crossing the $0.18 mark, following the transfer of 200 million DOGE from Robinhood to an unknown wallet. This movement, valued at approximately $35.45 million, was executed in two transactions and has contributed to a bullish sentiment among investors. The crypto community is closely watching Dogecoin, especially with the upcoming Bitcoin halving event, anticipating potential price rallies. Additionally, Elon Musk's X Payments LLC's expansion has also been linked to increased interest in Dogecoin.

Portfolio Pulse from Bibhu Pattnaik

April 06, 2024 | 2:03 pm

CANOO

KARS

NKLA

RIVN

TSLA

Electric vehicle stocks experienced a sell-off in the week ending April 5, influenced by broader market trends and company-specific news. Tesla reported its first year-over-year sales decline since Q2 2020, attributing it to production transitions and disruptions. Despite this, Ark Invest purchased $76 million in Tesla shares. Rivian celebrated its 100,000th vehicle production, while Nikola exceeded Q1 delivery expectations. Ford delayed its EV production plans, and Canoo's shares plummeted after a disappointing forecast. The KraneShares Electric Vehicles ETF saw a slight increase on Friday but fell overall for the week.

Portfolio Pulse from Shanthi Rexaline

April 06, 2024 | 1:17 pm

BTCUSD

DOGEUSD

A viral post by a crypto trader, Shabby, on X (formerly Twitter) discusses the illusion of financial freedom through accumulating wealth, emphasizing that happiness and freedom are not tied to monetary values. The post, which garnered over 1 million views, sparked a debate among the crypto community, with various traders and a crypto VC firm's member weighing in on the relationship between wealth, happiness, and self-worth. The discussion reflects broader sentiments in the cryptocurrency space regarding greed, ambition, and the pursuit of wealth.

Portfolio Pulse from Ivan Crnogatić

April 06, 2024 | 1:05 pm

AAPL

HTZ