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Following the Federal Reserve's dovish signal, major US stock indices, including the S&P 500 and Nasdaq 100, hit new record highs. The iShares Russell 2000 ETF (IWM) also saw gains. Apple Inc. (AAPL) shares dropped due to an antitrust lawsuit. The SPDR S&P 500 ETF Trust (SPY), SPDR Dow Jones Industrial Average ETF (DIA), and Invesco QQQ Trust (QQQ) all rose. Micron Technology (MU) surged after earnings, while Broadcom Inc. (AVGO) benefited from a bullish analyst note. Other notable stock movements were linked to earnings reports.

Portfolio Pulse from Piero Cingari

March 21, 2024 | 5:00 pm

AAPL

AMZN

GOOG

GOOGL

META

Apple Inc (AAPL) faces a DOJ antitrust lawsuit challenging its core business model, particularly its control over iPhone hardware and software access. Wedbush analyst Daniel Ives predicts a long legal battle but no immediate changes to Apple's business model. He notes this lawsuit is part of a broader antitrust effort under the Biden Administration targeting big tech companies including Alphabet (GOOG/GOOGL), Meta (META), and Amazon (AMZN). Apple's stock dropped 3.74% following the announcement.

Portfolio Pulse from Chris Katje

March 21, 2024 | 4:58 pm

EIS

USO

Israel's Mossad Chief, Barnea, is set to visit Qatar on Friday to meet with mediators in an effort to secure a hostage deal, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 4:18 pm

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MSOS

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Vice President Harris has urged the DEA to expedite the rescheduling of cannabis, a move analyzed by Zuanic & Associates as a potential turning point in national drug policy. The report covers implications of rescheduling, FDA oversight, and the effects on the cannabis industry, including banking access and stock exchange listings. Pablo Zuanic predicts a 51% chance of DEA rescheduling cannabis, which previously spurred a market surge, notably benefiting the MSOS ETF and companies like StateHouse, Columbia Care, Jushi, and AYR Wellness.

Portfolio Pulse from Nicolás Jose Rodriguez

March 21, 2024 | 3:47 pm

AAPL

GOOG

GOOGL

META

Apple and Google are expected to be the first companies investigated under the EU's new Digital Markets Act, with Meta also anticipated to face scrutiny. This clampdown on Big Tech could lead to significant fines for the companies involved.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 3:39 pm

AAPL

Apple Inc (NASDAQ:AAPL) shares fell by 3.3% after the U.S. Department of Justice (DOJ) filed a lawsuit against the company, accusing it of monopolizing the smartphone market. The DOJ, along with 16 state attorneys general, alleges that Apple's practices have harmed consumers and developers by violating antitrust laws. Apple responded, arguing that the lawsuit misunderstands its business and could hinder its ability to innovate. This legal action follows similar suits against other major tech companies like Alphabet, Meta Platforms, and Amazon.

Portfolio Pulse from Adam Eckert

March 21, 2024 | 3:35 pm

AAPL

Apple shares are trading lower following the filing of an antitrust lawsuit by the DOJ against the company.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 3:17 pm

FXI

SPY

U.S. Treasury Secretary Janet Yellen stated that there has been no appeasement of China regarding sanctions related to human rights abuses in Xinjiang. This clarification comes amid concerns over the U.S.'s stance on China's human rights record.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 3:06 pm

DIS

The Walt Disney Company (Disney) has publicly disagreed with the Institutional Shareholder Services' (ISS) recommendation to support Trian nominee Nelson Peltz for Disney's board. Disney believes its 12 nominated board members are better suited to oversee the company's management diligently.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 2:55 pm

AAPL

Apple Inc. has responded to a U.S. Department of Justice (DOJ) lawsuit, claiming it threatens the company's core principles and innovation capabilities. The lawsuit alleges Apple violated antitrust laws by restricting competitors' access to iPhone hardware and software, marking the third antitrust case against Apple in 14 years. Apple's stock dropped 2.89% to $173.51 following the news.

Portfolio Pulse from Rounak Jain

March 21, 2024 | 2:51 pm