Streetbeat News

Regulatory

SPY

Fed's Goolsbee indicates that the impact of supply shocks on inflation is delayed, suggesting that the benefits to disinflation from improvements in the supply chain are yet to be realized.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 4:23 pm

SPY

Fed's Goolsbee cautions against assuming the supply chain issues are fully resolved, indicating no further benefits expected in 2024.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 4:20 pm

SPY

Fed's Goolsbee highlights significant long-term progress on inflation, acknowledging that the disinflation observed in 2023 is partly due to supply chain improvements.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 4:19 pm

GOOG

META

Gov. Kathy Hochul and licensed dispensary owners in New York are criticizing Meta Platforms Inc (META) and Alphabet Inc (GOOG) for allegedly promoting unlicensed cannabis businesses on their platforms. They argue this undermines legal cannabis operations and poses public health risks. Despite Meta's policy against drug-related content, enforcement challenges persist. New York has struggled to collect over $25 million in fines from unlicensed retailers, underscoring the need for more effective enforcement strategies.

Portfolio Pulse from Patricio Liddle

February 29, 2024 | 4:19 pm

SPY

Fed's Goolsbee cautions against extrapolating from January's PCE data showing a rebound, indicating a careful approach to interpreting this single month's data.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 4:19 pm

UUP

The Federal Reserve's preferred inflation measure, the Personal Consumption Expenditures (PCE) index, dropped to 2.4% in January, aligning with expectations and moving closer to the Fed's 2% target. Core PCE inflation also eased to 2.8%. Despite mixed responses, most analysts believe the Fed has effectively combated inflation, predicting a rate cut in June. However, concerns remain about sustained consumer inflation expectations and the potential impact of strong economic indicators on the Fed's ability to maintain low inflation rates.

Portfolio Pulse from Neil Dennis

February 29, 2024 | 4:17 pm

BRAXF

BWVI

CMPS

In the Benzinga Psychedelics Podcast, Zappy Zapolin discusses the future of psychedelics, highlighting the industry's potential mainstream breakthrough in 2024 with federal legalization of MDMA for PTSD, psychedelics legalization campaigns, and COMPASS Pathways' commercialization. Zapolin, involved with companies like KetaMD (acquired by Braxia Scientific, OTC:BRAXF) and Psycheceutical Bioscience (OTC:BWVI), also launches guided psychedelic retreats, emphasizing the importance of medical supervision in therapy.

Portfolio Pulse from Lara Goldstein

February 29, 2024 | 4:04 pm

ARGT

BMA

MELI

Argentine stocks surged following rumors of a new IMF deal aiming to secure additional funding and accelerate Argentina's exit from capital controls. President Milei is determined to advance reforms, targeting the elimination of dollar exchange controls by mid-year with IMF support. The Global X MSCI Argentina ETF (ARGT) and stocks like MercadoLibre Inc. (MELI) and Banco Macro S.A. (BMA) saw notable increases. Argentina faces severe economic challenges, including a 250% inflation rate, and has a significant debt obligation to the IMF.

Portfolio Pulse from Piero Cingari

February 29, 2024 | 4:02 pm

SPY

U.S House Speaker Johnson announced that the text for the FY24 spending bills will be posted this weekend, according to Reuters. This development is crucial for investors as it may signal upcoming fiscal policies and budget allocations that could impact various sectors and the overall market sentiment.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 3:40 pm

RNLX

Renalytix Plc shares are trading higher following the announcement that the US has approved adding the company's kidneyintelX.dkd to its 10-year Governmentwide Acquisition Contract, effective Mar. 1.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 3:36 pm