Streetbeat News

Regulatory

SPY

VGK

U.S. Treasury Secretary Janet Yellen announced new sanctions targeting entities supporting Russia's war efforts, with potential secondary sanctions on financial institutions. The U.S. is finalizing a $50 billion loan to Ukraine, funded by income on Russian assets, not U.S. taxpayers.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 2:48 pm

SPY

The IRS has announced higher capital gains tax brackets for 2025, allowing single filers to earn up to $48,350 and married couples up to $96,700 in taxable income while still paying 0% on long-term capital gains. The standard deduction will also increase to $15,000 for singles and $30,000 for couples.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 2:28 pm

ETHA

ETHE

FBTC

HODL

IBIT

Bitcoin spot ETFs have seen a significant inflow of $294 million, marking a seven-day streak of positive momentum. BlackRock's ETF led with $329 million in inflows, while Fidelity and VanEck had mixed results. The inflows indicate growing investor confidence in Bitcoin, supported by stable regulatory policies and declining interest rates. In contrast, Ethereum ETFs experienced a net outflow, reflecting weaker sentiment.

Portfolio Pulse from Murtuza Merchant

October 22, 2024 | 2:07 pm

UUP

Goldman Sachs predicts the US dollar will remain strong regardless of the 2024 election outcome. A Republican sweep could lead to higher tariffs, boosting the dollar, while a Harris victory might initially weaken it. Global growth could also impact the dollar's strength.

Portfolio Pulse from Piero Cingari

October 22, 2024 | 2:06 pm

SPY

Philadelphia Fed President Patrick Harker did not provide comments on monetary policy or the economic outlook during a recent fintech conference. This lack of commentary leaves investors without new insights into potential future actions by the Federal Reserve.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 2:00 pm

ELAB

Elevai Biosciences, a subsidiary of Elevai Labs (NASDAQ:ELAB), is preparing for an IND application to the FDA for EL-22, a novel treatment for obesity that preserves muscle mass. They have partnered with KCRN Research to support regulatory planning and aim to submit the application in 2025.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 1:55 pm

TSM

Taiwan Semiconductor Manufacturing (TSMC) states it is not aware of being under any investigation and confirms it has not supplied to Huawei since mid-September 2020.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 1:54 pm

SGMO

Sangamo Therapeutics' shares rise as the FDA approves an accelerated pathway for their ST-920 treatment for Fabry disease, with a BLA submission expected in 2025.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 1:43 pm

BMY

CVM

MRK

CEL-SCI Corporation's Multikine shows promise as a combination therapy with checkpoint inhibitors like Keytruda, especially for patients with low PD-L1 expression. The FDA's ODAC meeting raised concerns about the risk-benefit profile of PD-L1 inhibitors, potentially benefiting Multikine's development.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 1:26 pm

AVYA

CHKP

MIME

UIS

The SEC has charged Unisys, Avaya, Check Point, and Mimecast for misleading cybersecurity disclosures. Unisys also faces additional charges for controls violations. The companies will pay civil penalties of $4M, $1M, $995K, and $990K respectively.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 1:23 pm