Streetbeat News

Regulatory

SPY

U.S. Treasury Secretary Yellen expressed confidence that shelter inflation is highly likely to decrease in the next year, indicating potential easing of inflationary pressures.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 5:33 pm

ACB

CGC

MJ

TLRY

Cannabis stocks are experiencing an uptick after reports surfaced that the DEA is considering reclassifying marijuana to a less restrictive drug category. This potential shift suggests a more favorable regulatory environment for cannabis companies, potentially increasing their market opportunities and reducing legal barriers.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 5:10 pm

RMAX

SPY

Z

ZG

U.S. Treasury Secretary Janet Yellen highlighted the challenges faced by first-time homebuyers in the current market, describing it as 'almost impossible' for them to purchase homes. This statement underscores the broader issues within the housing market, potentially affecting related stocks and ETFs.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 5:10 pm

MJ

MSOS

The Drug Enforcement Administration (DEA) is reportedly moving to reclassify marijuana as a less dangerous drug, signaling a significant shift in federal drug policy. This move could have broad implications for the cannabis industry, potentially easing restrictions on research and banking, and affecting companies involved in the marijuana sector.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 5:07 pm

NXL

Nexalin Technology, identified by its ticker symbol NXL, has received a Notice of Allowance for its U.S. patent application 18/342,590, which is focused on a Transcranial Alternating Current Dynamic Frequency Stimulation (TACS) method aimed at treating Alzheimer's and dementia. This development marks a significant milestone for Nexalin Technology in its efforts to innovate and expand its intellectual property portfolio in the medical technology sector, specifically targeting neurodegenerative diseases.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 5:03 pm

BTCUSD

DOGEUSD

SHIBUSD

Cryptocurrency trader Kevin predicts the upcoming FOMC meeting could significantly impact the crypto market, with potential for sharp movements based on the Federal Reserve's stance on interest rates. Historical data shows Bitcoin, Dogecoin, and Shiba Inu reacted to the last FOMC meeting, and similar volatility is expected. Bank of America's economist anticipates no immediate rate changes, focusing on future policy actions.

Portfolio Pulse from Khyathi Dalal

April 30, 2024 | 4:53 pm

TGT

The THC beverage sector is expected to grow from $180 million in 2021 to $500 million by 2026. Industry experts at the Benzinga Cannabis Capital Conference discussed the sector's growth, regulatory landscape, and its potential as an alcohol substitute. Key insights include the differentiation between hemp and marijuana, the importance of distribution channels, and the emerging consumer base of canna-curious individuals. Target (NYSE:TGT) was mentioned as now taking adaptogenic mushrooms, highlighting the broader acceptance and potential for growth in the cannabis-related product market.

Portfolio Pulse from Nina Zdinjak

April 30, 2024 | 4:42 pm

TCEHY

WB

China has implemented a revised State Secrets Law requiring internet companies like Tencent and Weibo to delete leaked information and cooperate with government investigations. This move, effective Wednesday, highlights President Xi Jinping's emphasis on national security and updates the law for the first time since 2010 to include 'internet information' among the channels that must adhere to secrecy requirements.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 4:35 pm

LLY

Eli Lilly, during a conference call, stated that the proposed U.S. BIOSECURE Act could affect elements of the pharmaceutical supply chain. However, the company does not currently foresee this having a material impact on its business operations.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 4:14 pm

VZIO

WMT

VIZIO Holding Corp (VZIO) shares dropped after Walmart (WMT) received a request for more information from the FTC on their planned merger. The FTC's second request extends the review period of the merger, but both companies plan to respond promptly and continue cooperating with the FTC.

Portfolio Pulse from Adam Eckert

April 30, 2024 | 4:12 pm