Streetbeat News

Regulatory

SPY

Fed's Kashkari highlights a long-term housing supply challenge in the U.S., noting that higher interest rates will likely reduce housing supply in the short term as the Fed focuses on reducing inflation.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 2:37 pm

ACB

CGC

TLRY

The DEA has recommended rescheduling marijuana, which could potentially ease research restrictions, but still questions its medical value. This mixed stance creates uncertainty for cannabis companies and investors.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 2:37 pm

SPY

Fed's Kashkari has indicated that the current expectation is for strong productivity rates to moderate. This statement could influence market expectations regarding future interest rate policies.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 2:35 pm

GBTC

Digital Currency Group (DCG) reported an 11% revenue increase in Q1 2024, reaching $229 million despite challenges with its Grayscale Bitcoin Trust (GBTC). Grayscale's revenue was flat at $156 million due to outflows after converting GBTC into a spot ETF, facing competition with lower fees. DCG's other subsidiaries, Foundry and Luno, saw revenue increases of 35% and 46%, respectively. Grayscale is adjusting by filing for a new Bitcoin ETF with lower fees, pending SEC approval.

Portfolio Pulse from Murtuza Merchant

May 10, 2024 | 2:32 pm

SPY

Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, highlighted the strength of the U.S. technology sector as a key reason for the U.S. dollar's status as the world's reserve currency. This statement underscores the importance of the tech industry in maintaining the economic and financial leadership of the United States on the global stage.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 2:30 pm

SPY

Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, highlighted the Federal Reserve as a prime target for state-sponsored hackers, emphasizing the significant threat of cyber-attacks on the institution.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 2:20 pm

SPY

Fed's Neel Kashkari expressed skepticism about the current hype surrounding artificial intelligence, suggesting it may be worthwhile to temper expectations.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 2:11 pm

SPY

Federal Reserve's Logan emphasized the ease of using the Discount Window once banks are enrolled, highlighting its accessibility for financial institutions.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 2:09 pm

SPY

Fed's Kashkari has expressed interest in A.I. due to its potential to boost productivity, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 2:09 pm

SPY

Fed's Logan emphasized the critical importance of banks having a broad set of funding arrangements, including the Fed's Discount Window. She advocates for all banks to sign up and regularly test the Discount Window to ensure financial stability.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 2:08 pm