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EIS

SPY

USO

The Pentagon spokesperson announced that the U.S. was not informed in advance about the Israeli strike in Damascus, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 7:06 pm

BTI

The Biden administration has missed another deadline for finalizing the FDA's proposed ban on menthol-flavored cigarettes, a move that has been urged by health and anti-smoking groups due to the product's appeal to young smokers and significant health impacts, especially in Black communities. Altria Group Inc (NYSE:MO) and British American Tobacco Industries (NYSE:BTI) are notably affected, with over 20% of their revenue from menthol products. The delay has led to lawsuits from public health groups and criticism for not addressing public health risks promptly.

Portfolio Pulse from Vandana Singh

April 02, 2024 | 6:56 pm

AMZN

EWT

GFS

INTC

MSFT

TSM

In a phone meeting, President Joe Biden and China's President Xi Jinping discussed maintaining open communication to manage competition and prevent conflict, focusing on trade, national security, and technology issues, including AI and semiconductor manufacturing. The U.S. has expressed concerns over technology transfer to China, leading to legislation like the CHIPS and Science Act, benefiting companies like Intel and GlobalFoundries. Discussions also covered Taiwan, with Xi urging the U.S. to stop arms sales and Biden reaffirming his stance against Chinese intervention.

Portfolio Pulse from Neil Dennis

April 02, 2024 | 6:44 pm

BTCUSD

COIN

The U.S. Government transferred 30,175 Bitcoin, valued at approximately $2 billion, to a wallet believed to be owned by Coinbase (NASDAQ:COIN) following the seizure of assets linked to the Silk Road. This move comes after a previous sale of Bitcoin by the government and has led to a slight downturn in Bitcoin's value, with market reactions and potential implications to be discussed at Benzinga's Future of Digital Assets conference.

Portfolio Pulse from Murtuza Merchant

April 02, 2024 | 6:39 pm

CYTH

Cyclo Therapeutics announced that it has received a decision to grant a European patent titled 'METHODS FOR TREATING ALZHEIMER'S DISEASE WITH HP-[BETA]-CYCLODEXTRIN'. This patent strengthens the company's intellectual property position in Europe, potentially paving the way for the development and commercialization of new treatments for Alzheimer's disease.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 6:31 pm

AAPL

AMZN

FCX

MSFT

NVDA

QQQ

SPY

TSLA

Freeport-McMoRan Inc (FCX) has outperformed NVIDIA Corp (NVDA) due to optimism about China's economy, a major copper user. Positive PMI data from China and comments from Fed Chair Powell on interest rates have influenced market movements. Early trade money flows show positive trends for AMZN, MSFT, TSLA, neutral for NVDA, META, GOOG, and negative for AAPL. Mixed flows are observed in SPY and QQQ. The article also highlights the importance of portfolio construction and diversification.

Portfolio Pulse from The Arora Report

April 02, 2024 | 5:55 pm

SPY

Fed's Daly commented that the economy is solid and emphasized a 'steady in the boat' approach, suggesting a cautious stance on policy changes.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 5:48 pm

SPY

Fed's Daly stated that the policy rate is currently at a good level, indicating readiness for future economic conditions. However, Daly also mentioned that more work is needed before being confident in the current path. Daly emphasized the importance of not adjusting policy based on every data point, suggesting a more measured approach to future policy changes.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 5:47 pm

SPY

Fed's Daly comments on interest rate projections, indicating that the forecast of three rate cuts is not a guarantee. Daly emphasizes readiness to adjust the number of cuts based on inflation trends and labor market conditions, suggesting a flexible approach to future rate adjustments.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 5:47 pm

SPY

Federal Reserve Bank of San Francisco President Mary Daly stated that three interest rate cuts in the current year could be considered a 'reasonable' baseline. This perspective offers insight into potential future monetary policy adjustments.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 5:46 pm