Streetbeat News

Regulatory

GLD

IWM

SPY

Fed Chair Jerome Powell announced the Federal Reserve's decision to delay interest rate cuts until there is greater confidence in reaching the 2% inflation target, citing recent data showing stalled progress on inflation. This announcement led to a spike in 2-year Treasury yields to 5%, the highest in six months, and affected stock and gold prices. The SPDR S&P 500 ETF Trust (SPY) and the iShares Russell 2000 ETF (IWM) experienced declines, while the SPDR Gold Trust (GLD) remained steady.

Portfolio Pulse from Piero Cingari

April 16, 2024 | 6:19 pm

CURLF

MSOS

Boris Jordan has announced the acquisition of a company to expand into the European market, focusing on EUGMP certified cannabis flowers and controlling the full supply chain for both flower and product sides. The announcement was made in the context of promoting the Cannabis Capital Conference, which offers live access for both existing and new subscribers.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 6:19 pm

CURLF

MSOS

Boris Jordan highlighted Curaleaf's potential in Europe following Germany's decision to remove cannabis from the narcotic list, viewing it as a major catalyst. The first two weeks have shown positive signs from telemedicine platforms.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 6:10 pm

CURLF

MSOS

At Benzinga's Cannabis Capital Conference, Curaleaf Chairman Boris Jordan highlighted Ohio, New York, and Florida as current catalysts for the U.S. cannabis market, with Pennsylvania expected to become a catalyst by the end of this year or early next year.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 6:09 pm

MMAT

Meta Materials' subsidiary, Nanotech Security, has been granted U.S. Patent Number 11,960,107 for 'Nano-Structures Patterned On Micro-Structures', applicable in displays and anti-counterfeiting. This development could enhance Meta Materials' product offerings and market position in these sectors.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 6:01 pm

EWC

SPY

Fed Chair Powell acknowledged that the supply side of the economy has significantly recovered in 2023, a development that was initially expected to occur in 2021 or 2022. This statement has implications for investors as it suggests improvements in supply chain issues that have previously hampered economic growth and market performance.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 5:56 pm

PENN

Benchmark analyst Mike Hickey initiated coverage on PENN Entertainment Inc (NASDAQ:PENN) with a Hold rating, citing the company's strategic focus on expanding its digital footprint, leveraging partnerships, and enhancing land-based operations. The expansion of ESPN Bet is expected to benefit from the U.S. online gaming market's growth, potentially surpassing $30 billion by 2028. The entry into the New York online sports betting scene could significantly boost PENN's stock, although regulatory pressures could pose challenges.

Portfolio Pulse from Shivani Kumaresan

April 16, 2024 | 5:54 pm

EWC

SPY

Fed Chair Powell highlighted that the current inflation scenario is not typical, as it's not driven by overheated demand. This suggests a nuanced approach to monetary policy, potentially impacting market expectations and investor sentiment.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 5:52 pm

USO

The White House, through Senior Adviser John Podesta, expressed its intention to ensure the affordability of gasoline, hinting at potential releases from the Strategic Petroleum Reserve (SPR) as a measure to achieve this goal. This statement underscores the administration's focus on maintaining stable fuel prices amidst fluctuating global oil markets.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 5:43 pm

SPY

Fed Chair Powell acknowledges that the Federal Reserve's supervision was not adequately forceful in addressing bank stress early last year, indicating lessons have been learned.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 5:43 pm