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Top crypto analyst Michaël van de Poppe suggests that the approval of spot Ethereum ETFs by the SEC is unlikely this week, predicting a delay until July/August. Despite a 75% approval chance, the presence of ETH staking in applications could cause delays. Several applicants have amended their filings to remove staking, potentially improving approval chances.

Portfolio Pulse from Aniket Verma

May 22, 2024 | 5:52 am

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Sandoz has received European Commission approval for Wyost and Jubbonti, the first biosimilars of denosumab in Europe, for treating cancer-related bone disease and osteoporosis.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 5:13 am

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Peter Schiff, a known Bitcoin critic, suggested that the approval of Ethereum spot ETFs could negatively impact Bitcoin by diverting investments from Bitcoin ETFs to Ethereum ETFs. Bitcoin proponents disagreed, emphasizing Bitcoin's market dominance and the potential for increased overall investment in cryptocurrencies. Bitcoin recently saw significant inflows into its spot ETFs, despite a slight price drop.

Portfolio Pulse from Aniket Verma

May 22, 2024 | 3:59 am

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Bitcoin is expected to reach a new all-time high by the weekend, according to Geoff Kendrick, Head of FX Research and Digital Assets Research at Standard Chartered. The potential approval of spot ether ETFs is also seen as a factor that could further legitimize the cryptocurrency sector. Recent inflows into spot Bitcoin ETFs have reached a new all-time high of $12.9 billion. The SEC's request for updates to filings for spot Ethereum ETFs has increased the chances of approval from 25% to 75%.

Portfolio Pulse from Benzinga Neuro

May 22, 2024 | 3:40 am

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Nvidia's upcoming quarterly results are expected to positively impact six AI-related stocks: Super Micro Computer, AMD, Marvell Technology, Vertiv Holdings, Synopsys, and Advantest. These stocks have historically risen following Nvidia's strong earnings.

Portfolio Pulse from Benzinga Neuro

May 22, 2024 | 3:40 am

MSFT

Microsoft CEO Satya Nadella emphasized that AI should be viewed as a tool rather than a human-like entity. This comes after OpenAI, in which Microsoft is a major stakeholder, unveiled a personal assistant with human-like capabilities. Nadella's comments contrast with OpenAI's approach and highlight the ongoing debate about the anthropomorphization of AI.

Portfolio Pulse from Ananya Gairola

May 22, 2024 | 3:01 am

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Prominent economists Mohamed El-Erian and Peter Schiff highlight the ongoing strength and market momentum of gold, with El-Erian noting the significant expansion of the commodity rally and Schiff advising investors to hold onto their gold and silver assets. The price of gold has recently hit a new record high of $2,450 per ounce, driven by expectations of a potential interest rate cut by the U.S. Federal Reserve.

Portfolio Pulse from Kaustubh Bagalkote

May 22, 2024 | 2:43 am

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JPMorgan has initiated coverage of Structure Therapeutics (NASDAQ:GPCR) with an 'Overweight' rating and a price target of $65, indicating an 80% potential upside. The company is developing an oral GLP-1 weight loss drug, '1290,' which could hit the market ahead of competitors. The obesity drug market is seeing significant developments, with Roche, Eli Lilly, Novo Nordisk, and Biohaven also making strides.

Portfolio Pulse from Benzinga Neuro

May 22, 2024 | 2:41 am

MSFT

Gene Munster from Deepwater Asset Management expressed concerns about Microsoft's future in AI, stating that the company relies heavily on OpenAI. Despite Microsoft's significant investment in OpenAI, Munster believes that Microsoft lacks control over its AI destiny compared to Google and Meta. At the Build conference, Microsoft introduced new AI features but did not unveil anything groundbreaking beyond what OpenAI had already disclosed.

Portfolio Pulse from Ananya Gairola

May 22, 2024 | 2:13 am

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The cryptocurrency market saw mixed movements with Bitcoin retracing and Ethereum and Dogecoin inching higher. Ethereum's positive momentum is driven by rumors of an upcoming spot ETF approval. Bitcoin experienced a dip due to profit-taking. The stock market also edged higher, with notable gains for the Nasdaq Composite and S&P 500, driven by bullish prospects for NVIDIA's upcoming earnings report.

Portfolio Pulse from Aniket Verma

May 22, 2024 | 1:56 am