Streetbeat News

Regulatory

SPY

Federal Reserve's Logan highlights that many healthy banks utilize the discount window when necessary, emphasizing the resilience of the Treasury market as a primary concern for regulators.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 1:29 pm

SPY

Fed's Logan reports that business contacts are optimistic about the future but remain aware of potential risks. Logan emphasizes the importance of financial conditions indexes in their assessments.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 1:25 pm

CERO

CERo Therapeutics Holdings, Inc. (NASDAQ:CERO) has submitted a Complete Response Letter to the FDA regarding a clinical hold on its CERO-1236 product. The company has adjusted its clinical entry guidance to early 2025 and disclosed a cash balance of $3.2M as of September 30, 2024.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 1:05 pm

BMEA

Biomea Fusion has received approval from the World Health Organization for 'Icovamenib' as the international nonproprietary name and USAN designation for its lead candidate BMF-219. This drug is a menin inhibitor aimed at treating diabetes, obesity, and genetically defined cancers.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 1:02 pm

SPY

The Federal Reserve's Logan discusses the current state of money market volatility, indicating that some volatility is expected and should be tolerated. Logan expects money markets to be close to or just above the interest on reserves rate and aims for negligible balances in the reverse repo facility over time. The Fed may adjust the reverse repo rate if cash remains in the facility, but selling Fed-owned mortgage bonds is not currently a concern.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 12:57 pm

SPY

The Federal Reserve's Logan anticipates gradual rate cuts if the economy aligns with forecasts, emphasizing the need for nimble monetary policy. The economy is strong, but there are downside risks to the job market and ongoing inflation risks. Balance sheet cuts and rate cuts are aligned, with liquidity still abundant in money markets.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 12:56 pm

FXI

KWEB

MCHI

PGJ

China's recent interest rate cuts have led to declines in several US-listed Chinese ETFs, including KWEB, FXI, PGJ, and MCHI. This move, intended to stimulate economic growth, has instead raised investor concerns about broader implications.

Portfolio Pulse from Pooja Rajkumari

October 21, 2024 | 12:53 pm

NVO

Novo Nordisk's oral diabetes pill, Rybelsus, demonstrated a 14% reduction in major adverse cardiovascular events in the SOUL Phase 3 trial. The company plans to seek regulatory approval for label expansion by 2025.

Portfolio Pulse from Vandana Singh

October 21, 2024 | 12:47 pm

SCWX

Trading for a certain asset was halted at 8:45:00 a.m. ET due to pending news. This indicates that significant information is expected to be released, which could impact the asset's price.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 12:45 pm

SNAL

Snail Games has regained compliance with Nasdaq's listing requirements, ensuring its continued presence on the exchange. This development is crucial for maintaining investor confidence and access to capital markets.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 12:44 pm