Streetbeat News

Regulatory

GOOG

GOOGL

Alphabet Inc.'s Google has urged the U.S. government to reform immigration policies to attract global AI and tech talent, highlighting the current policies' inadequacy in addressing the shortage of AI and cybersecurity specialists. Google's call for updating the Schedule A list and streamlining the PERM process aims to make the U.S. a more attractive destination for top talent in the face of global competition and a domestic shortage of AI professionals.

Portfolio Pulse from Rounak Jain

May 01, 2024 | 2:52 pm

SPY

UUP

U.S. manufacturing activity contracted in April, with the ISM Manufacturing PMI falling to 49.2%, indicating a decrease in activity after a brief expansion in March. The New Orders Index and Employment Index also showed signs of contraction, while the Prices Index indicated rising commodity costs. The U.S. dollar index weakened, and stock markets fell slightly in response. The market is now looking forward to the Federal Reserve's upcoming meeting for further direction.

Portfolio Pulse from Piero Cingari

May 01, 2024 | 2:47 pm

NVO

Denmark's healthcare authority has decided to prioritize prescribing less expensive drugs over GLP-1 drugs like Novo Nordisk's Ozempic for type 2 diabetes patients. This decision, aimed at cost-effectiveness, could lead to nearly half of all current GLP-1 drug users switching to cheaper alternatives, despite the popularity of drugs like Ozempic for their weight-loss benefits. The change will take effect from Nov. 25, impacting Novo Nordisk's (NYSE:NVO) market for Ozempic and Rybelsus, as well as Eli Lilly's Trulicity.

Portfolio Pulse from Benzinga Neuro

May 01, 2024 | 2:44 pm

ARKB

BITB

FBTC

GBTC

Bitcoin spot ETFs experienced significant outflows, with $162 million leaving on Tuesday. Grayscale Bitcoin Trust (GBTC) saw the largest withdrawal of $93.2277 million. Fidelity's FBTC and Bitwise's BITB also experienced substantial outflows, while Ark's ARKB was the only one with an inflow. This trend contrasts with the optimism seen in Hong Kong, where new cryptocurrency spot ETFs have been launched with significant interest, despite lower first-day trading volumes compared to the U.S.

Portfolio Pulse from Murtuza Merchant

May 01, 2024 | 2:33 pm

AAPL

GOOGL

META

MSFT

NVDA

QQQ

SPY

TSLA

The Market Clubhouse Morning Memo for May 1st, 2024, provides trading strategies for SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA, based on a proprietary formula. It outlines potential price movements for these assets, advising traders to monitor for breakouts or reversals. The memo also highlights the day's economic events, including the ADP Non-Farm Employment Change, Quarterly Treasury Refunding Announcement, Final S&P Global Manufacturing PMI, Construction Spending report, JOLTS Job Openings, ISM numbers, and the FOMC's Interest Rate Decision, indicating a high volatility day.

Portfolio Pulse from RIPS

May 01, 2024 | 2:23 pm

SPY

U.S. Speaker Johnson has stated that the motion to vacate him as Speaker is incorrect, according to Reuters. No specific details on the political implications or the reasons behind the motion were provided in the article.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 1:54 pm

ACB

AKAN

CGC

CRON

GRWG

The Wall Street Journal reports that despite the declassification of cannabis, pot stocks such as ACB, AKAN, CGC, CRON, GRWG, HUGE, IGC, IMCC, LFLY, SNDL, and TLRY remain in a state of uncertainty. The article suggests that regulatory, legal, and market dynamics still pose significant challenges for these companies, impacting their stock performance and investor sentiment.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 1:41 pm

BACK

IMAC Holdings entered into a Settlement and Release Agreement with Theralink on May 1, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 1:32 pm

SPY

U.S. House Republican Taylor Greene announced plans to call for a vote to oust Speaker Johnson next week, according to Reuters. This political move could introduce volatility in the markets, as political instability often does.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 1:17 pm

Federal prosecutors are investigating financial transactions at Block, the parent company of Cash App and Square. This scrutiny could impact investor confidence and the company's stock price in the short term.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 1:04 pm