Streetbeat News

Regulatory

AAPL

AMZN

COP

LEG

PFE

Following the Federal Reserve's decision to maintain the federal funds rate at 5.25% to 5.5%, investor sentiment showed slight improvement, though it remained in the 'Fear' zone. U.S. stocks ended mixed, with Pfizer, Amazon, and Leggett & Platt reporting significant financial results. The Dow Jones rose, while the S&P 500 and Nasdaq fell. Upcoming earnings from Kellanova, ConocoPhillips, and Apple are highly anticipated.

Portfolio Pulse from Avi Kapoor

May 02, 2024 | 6:37 am

EWA

Australia's Building Approvals for March increased by 1.9%, falling short of the estimated 3.5% growth, but improving from the previous month's revised decline of -0.9%.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 5:13 am

META

Elon Musk supported Rep. Jim Jordan's criticism of the Biden administration's alleged censorship of the lab leak theory related to COVID-19's origin. Jordan's posts on X (formerly Twitter) included an alleged 2021 message from Meta Platforms' CEO Mark Zuckerberg, discussing pressure from the White House to censor the theory. Musk described this as a 'Smoking gun First Amendment violation.'

Portfolio Pulse from Ananya Gairola

May 02, 2024 | 4:31 am

BTCUSD

Ray Dalio supports Larry Summers' view that the Federal Reserve is in a precarious position regarding potential rate cuts amidst inflation concerns. Summers points to rising Employment Cost Index and housing price inflation as indicators that inflation targets are not being met, suggesting the Fed should be cautious about easing monetary policies. The Fed's decision to maintain interest rates aims to allow more time for current policies to achieve a 2% inflation goal, amidst market volatility and criticism from economists like Peter Schiff.

Portfolio Pulse from Benzinga Neuro

May 02, 2024 | 3:42 am

BIDU

GOOG

META

NYT

SNAP

TCEHY

The U.S. government's legislation requiring TikTok to divest its U.S. operations or face a ban has sparked debate over censorship and national security. The law, which aims to address the national security risk posed by TikTok's 170 million U.S. users, has bipartisan support. European Commission president Ursula von der Leyen indicated the EU might follow suit. The article also discusses China's internet censorship, known as the Great Firewall, which blocks access to many foreign websites and apps, including those owned by Alphabet Inc (GOOG), Meta Platforms Inc (META), Snap Inc (SNAP), and The New York Times Co (NYT), and mentions China's domestic internet products like Baidu (BIDU) and Tencent Holdings ADR (TCEHY).

Portfolio Pulse from Natan Ponieman

May 01, 2024 | 9:11 pm

NCNA

NuCana plc (NASDAQ:NCNA) has regained compliance with Nasdaq's minimum bid price requirement, avoiding delisting. The company's ADSs maintained a closing bid price of $1.00 or more for 10 consecutive business days, meeting Nasdaq's condition for continued listing.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 8:52 pm

AMPH

AZN

NVO

NVS

TEVA

The FTC is targeting 'junk patent listings' for drugs like Novo Nordisk's Ozempic and AstraZeneca's treatments to promote generic competition and reduce drug prices. The FTC issued warning letters to 10 companies, including Novo Nordisk, AstraZeneca, Boehringer Ingelheim, Novartis, Amphastar Pharmaceuticals, and Teva Pharmaceutical, disputing over 300 Orange Book patent listings to facilitate the availability of affordable alternatives.

Portfolio Pulse from Vandana Singh

May 01, 2024 | 8:11 pm

QQQ

SPY

UUP

Federal Reserve Chair Jerome Powell indicated that an interest rate hike is 'unlikely' and expects inflation to decrease over the year, aiming for a 2% target. This stance led to a rally in stocks and gold, while the dollar and Treasury yields fell. Powell's comments were seen as less hawkish than anticipated, sparking optimism among investors. The Fed also plans to slow its balance sheet runoff to ensure a smoother transition in financial markets.

Portfolio Pulse from Piero Cingari

May 01, 2024 | 7:51 pm

XOM

Exxon Mobil is expected to receive approval from the Federal Trade Commission (FTC) for its acquisition of Pioneer Natural Resources, contingent on a settlement agreement, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 7:34 pm

SPY

Federal Reserve Chairman Jerome Powell emphasized the significance of the Basel 3 process, describing it as the most crucial regulatory matter currently. This statement underscores the importance of international banking regulations and their impact on financial stability.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 7:17 pm