Streetbeat News

Regulatory

EWW

TSLA

Mexico's economy faces challenges with slowing GDP growth, rising inflation, and unlikely interest rate cuts, impacting investor sentiment. The iShares MSCI Mexico ETF (EWW) has seen modest performance compared to its Latin American peers, with concerns over Mexico's manufacturing slowdown and upcoming elections. However, Mexico could benefit from geopolitical shifts and increased investment from companies diversifying away from China, including significant investments by Tesla (TSLA) and others in Nuevo Leon.

Portfolio Pulse from Kenneth Rapoza

May 03, 2024 | 6:09 pm

BTCUSD

The SEC has postponed its decision on the 7RCC Spot Bitcoin and Carbon Credit Futures ETF until June 24, 2024, for further review. This ETF aims to allocate 80% to Bitcoin and 20% to carbon credit futures, reflecting a novel diversification strategy. The delay highlights the SEC's cautious stance on innovative ETFs combining digital assets with environmental financial instruments.

Portfolio Pulse from Murtuza Merchant

May 03, 2024 | 6:09 pm

SPY

U.S. Democratic Representative Henry Cuellar has been indicted on charges of conspiracy and bribery, according to a court filing. The news may have implications for market sentiment, particularly in sectors sensitive to political and regulatory developments.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 5:57 pm

TSLA

The U.S. Department of the Treasury and IRS released final rules on the clean vehicle provisions of the Inflation Reduction Act, aiming to lower consumer costs, boost U.S. manufacturing in batteries and clean vehicles, and strengthen energy security. The rules include up to $7,500 in credits for new clean vehicles and up to $4,000 for previously-owned clean vehicles, with over $700 million in upfront savings for consumers so far. The regulations also detail critical mineral content requirements and restrictions on Foreign Entities of Concern to ensure supply chain resilience.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 5:44 pm

CURLF

GTBIF

TCNNF

Michael Berger, a cannabis stock expert at Benzinga, highlights the burgeoning opportunities in the cannabis sector, spurred by the DEA's decision to reclassify marijuana to Schedule III, signaling a bullish outlook for cannabis stocks. Berger emphasizes the importance of cautious investment in this volatile market, recommending a diversified approach and focusing on U.S. cannabis companies like Green Thumb Industries, Trulieve Cannabis, and Curaleaf Holdings, which exhibit strong financial metrics such as free cash flow, net income, and adjusted EBITDA.

Portfolio Pulse from Jelena Martinovic

May 03, 2024 | 5:17 pm

AAPL

DIA

IWM

QQQ

QQQM

SPY

US stock indexes rose after a weak jobs report fueled speculation of a potential easing in Federal Reserve policy. Additionally, strong earnings from Apple contributed to positive market sentiment.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 5:14 pm

BTCUSD

Arthur Hayes, BitMEX co-founder, predicts Bitcoin has hit a local bottom and expects a rally to above $60,000, with range-bound action between $60,000 and $70,000 until August. He attributes this to U.S. financial policies, tax season pressures, Federal Reserve actions, and market reactions to regulatory news. Hayes highlights the impact of changes in the Fed's quantitative tightening program and the recent bank failures on digital asset security and liquidity in the financial system.

Portfolio Pulse from Murtuza Merchant

May 03, 2024 | 5:10 pm

NTDOY

Nintendo ADR (OTC:NTDOY) has issued a DMCA takedown request for over 8,500 copies of the Yuzu emulator code on GitHub, following a lawsuit settlement with Yuzu's owners for $2.4 million. This action is part of Nintendo's ongoing efforts to protect its intellectual property, including previous legal actions against other emulator creators and platforms hosting illegal copies of its games.

Portfolio Pulse from Franca Quarneti

May 03, 2024 | 5:00 pm

JNJ

Johnson & Johnson announced positive Phase 2 results for ERLEADA plus ADT in high-risk localized prostate cancer patients post-radical prostatectomy, showing a 100% biochemical recurrence-free rate at 24 months. The study, presented at the 2024 AUA Meeting, met its primary endpoint, with a safety profile consistent with previous reports. These findings highlight the potential for treatment intensification in this patient group, addressing the need for options to reduce long-term disease recurrence risks.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 4:23 pm

IBRX

MRK

ImmunityBio Inc (NASDAQ:IBRX) announced an exclusive global supply agreement with the Serum Institute of India for Bacillus Calmette-Guerin (BCG) to address shortages for its bladder cancer combination therapy with Anktiva. The FDA approved Anktiva plus BCG for certain bladder cancers in April. The deal includes the supply of standard BCG and a next-generation recombinant BCG for clinical trials and future indications. ImmunityBio's shares slightly declined following the announcement.

Portfolio Pulse from Vandana Singh

May 03, 2024 | 4:19 pm