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Regulatory

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The article provides a comprehensive roundup of recent developments in the psychedelics sector, highlighting research findings, regulatory updates, and industry movements. Key highlights include the launch of Usona Institute's Phase 3 clinical trial on psilocybin for Major Depressive Disorder, partnerships for psilocybin research, and significant corporate changes within companies like Compass Pathways and Cybin. Additionally, several companies announced progress in clinical trials, patent approvals, and expansions in product distribution.

Portfolio Pulse from Lara Goldstein

March 30, 2024 | 12:57 pm

At a campaign reception in New York, President Joe Biden made a light-hearted comment about Boeing-manufactured Air Force One, joking, 'I don't sit by the door,' in response to a question about the aircraft's door security. This comes after an incident in January where a door plug panel on a Boeing aircraft operated by Alaska Airlines detached after takeoff, leading to an emergency landing. The incident has since subjected Boeing to intense regulatory scrutiny, including from the Justice Department. Boeing announced that CEO Dave Calhoun will step down by year-end, with Stephanie Pope taking over as the new head of its commercial airplanes division.

Portfolio Pulse from Anan Ashraf

March 30, 2024 | 8:25 am

NVO

Sen. Bernie Sanders criticized the high prices of the diabetes drug Ozempic, produced by Novo Nordisk (NYSE:NVO), and is considering hearings and a meeting with the company's CEO to discuss price reductions. Sanders highlighted the disparity between the drug's production cost, less than $5 a month, and its selling price, nearly $1,000 a month in the U.S. Novo Nordisk defended its pricing, citing significant investments in research and development.

Portfolio Pulse from Rounak Jain

March 30, 2024 | 8:19 am

MSFT

The U.S. House has banned Microsoft Corp.'s Copilot AI chatbot for congressional staffers due to potential data leak risks. This decision aligns with broader governmental and corporate efforts to regulate AI's use and ensure data security. Microsoft plans to release government-oriented tools to address these concerns.

Portfolio Pulse from Rounak Jain

March 30, 2024 | 3:15 am

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Federal Reserve Chair Jerome Powell stated the Fed is not in a rush to cut interest rates despite the latest PCE report showing inflation rose in February. The report aligns with the Fed's expectations, and Powell emphasized rate cuts would occur when inflation is on track to hit the 2% goal. The crypto prediction market Polymarket has seen increased bets on a rate cut by June, influenced by recent inflation data.

Portfolio Pulse from Chris Katje

March 29, 2024 | 4:55 pm

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Beckley Psytech and atai Life Sciences announced positive results from a Phase 2a study of 5-MeO-DMT for Treatment Resistant Depression. Utah hospitals will soon offer psilocybin and MDMA therapy. Elon Musk discussed the benefits of ketamine for depression and its positive impact on investors. Meta is under investigation for potentially facilitating illegal drug sales. MindMed's CEO highlighted LSD's potential in a podcast. Various companies and ETFs are mentioned with their stock performance.

Portfolio Pulse from Lara Goldstein

March 29, 2024 | 4:43 pm

SPY

The PCE inflation rate rose to 2.5% in February, with personal spending exceeding expectations. Despite a slight monthly dip in inflation, the core annual rate was revised higher, indicating persistent inflation. Analysts offer mixed views on future Fed actions, with some predicting rate cuts by June due to slowing consumer spending and service inflation, while others highlight above-target inflation rates suggesting continued or increased rates.

Portfolio Pulse from Neil Dennis

March 29, 2024 | 2:20 pm

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California and Germany have made significant strides towards 100% renewable energy, with California's power supply recently being over 70% renewable on average. The clean energy sector faces uncertainty with the upcoming 2024 presidential election. ETFs like iShares Global Clean Energy ETF (ICLN) and Invesco Solar ETF (TAN) have seen minor upticks this week, despite losses over the past year. Stocks such as NextEra Energy Inc (NEE), First Solar Inc (FSLR), and Clearway Energy, Inc. (CWEN) are recovering but still down from last year's prices.

Portfolio Pulse from Natan Ponieman

March 29, 2024 | 12:48 pm

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California's cannabis sector is experiencing a sales decline, with a recent report from Zuanic & Associates highlighting the market's consolidation potential. Leading brands with financial backing are likely to benefit. The report covers companies like Gold Flora, StateHouse, and Weedmaps, noting a 5% drop in cannabis sales to $1.05 billion in Q4 2023. The sector faces challenges such as tighter retailer margins and legal issues, despite an increase in dispensary licenses. The upcoming Benzinga Cannabis Capital Conference will feature insights from Pablo Zuanic.

Portfolio Pulse from Nicolás Jose Rodriguez

March 29, 2024 | 12:48 pm

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XOM

Chile plans to double its lithium output in the next decade by opening 26 new salt flats for extraction, aiming to address potential lithium shortages and meet the quadrupling global demand by 2030. Sociedad Química y Minera de Chile S.A. (SQM) and Albemarle Corporation (ALB) are key players in Chile's lithium sector. Meanwhile, in the U.S., companies like Tetra Technologies face regulatory hurdles in lithium extraction, despite partnerships like the one with Exxon Mobil (XOM) for lithium extraction in Arkansas.

Portfolio Pulse from Stjepan Kalinic

March 29, 2024 | 12:22 pm