Streetbeat News

Regulatory

SPY

In a recent statement, Federal Reserve Bank of Chicago President Austan Goolsbee remarked that the economy has encountered an inflation bump this year, suggesting a period of observation is now necessary to assess the impact. This comment implies a cautious approach to future monetary policy decisions, potentially affecting market expectations and investor sentiment.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 5:15 pm

SPY

Fed's Bowman stated in an interview with Bloomberg News that she does not anticipate interest rate cuts this year, and has not planned for any cuts in 2024.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 4:52 pm

GLD

IWM

MGNX

NVAX

Stocks paused due to a dismal consumer confidence report, with inflation expectations rising, impacting various assets. The S&P 500 and Dow Jones showed mixed reactions, while the iShares Russell 2000 ETF and SPDR Gold Trust experienced notable movements. Bitcoin's value dropped significantly. Noteworthy stock movements included Novavax's surge after a licensing deal, MacroGenics' decline due to a study update, and various companies reacting to earnings reports.

Portfolio Pulse from Piero Cingari

May 10, 2024 | 4:45 pm

YTEN

Yield10 Bioscience has received a notice of allowance from the USPTO for its patent application 17/273,159, which covers genetically engineered plants with increased seed yield. This development could enhance Yield10 Bioscience's intellectual property portfolio and potentially lead to commercial applications that improve agricultural productivity.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 4:40 pm

EIS

ISRA

SPY

USO

The Biden administration's upcoming report will not conclude that Israel violated U.S. weapons agreement terms despite being critical of Israel's actions in Gaza. This decision follows seven months of conflict in Gaza, resulting in nearly 35,000 Palestinian casualties. The report, prompted by a presidential directive, assesses Israel's use of U.S.-provided military aid amidst pressure from congressional Democrats.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 4:27 pm

EIS

ISRA

USO

Hamas has announced that Israel's rejection of mediators' proposal has reset progress in their negotiations, potentially impacting geopolitical stability in the region.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 4:12 pm

TSLA

Elon Musk announced Tesla will invest over $500M in expanding its Supercharger network, contradicting reports of the unit's closure and recent layoffs of about 500 employees. Despite a brief uptick, Tesla's stock fell 2% in morning trading, continuing an 8.8% decline over four sessions. This comes amid broader concerns over layoffs, potential new tariffs on EVs from China affecting Tesla's significant revenue from the region, and increasing competition in the EV market. Tesla's stock has dropped 32.2% this year but saw an 18.7% increase since a 15-month low in April.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 4:04 pm

SPY

The Pentagon has ordered the withdrawal of all 1,000 U.S. combat troops from Niger, impacting the Biden administration's counter-terrorism and anti-Russian influence efforts in West Africa. This decision follows Niger's military junta revoking its military cooperation with the U.S., despite ongoing negotiations for a possible partial stay of American forces. The withdrawal timeline is subject to change, with congressional negotiations still in progress.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 3:51 pm

LFLY

Leafy Holdings' shares dropped following disappointing Q1 financial results and a DEA report questioning marijuana's medical value.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 3:51 pm

JNJ

The FDA announced that Megadyne has initiated a global discontinuation and voluntary recall of its Mega Soft Pediatric Patient Return Electrode. This action is due to unspecified reasons related to the safety or efficacy of the product.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 3:45 pm