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Lawyers who won a $1.8 billion lawsuit against the National Association of Realtors have filed a new suit for anyone who has sold a home over the last 5 years. The lawsuit alleges that Americans have paid $60 billion in extra real estate commissions. This could potentially change the way realtors are compensated and comes at a fragile time for the real estate market.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 6:02 pm

BLK

BTCUSD

ETHUSD

BlackRock Advisors, a division of BlackRock (NYSE:BLK), has registered an iShares Ethereum Trust in Delaware. This follows BlackRock's earlier filing for a spot Bitcoin ETF with the U.S. Securities and Exchange Commission (SEC) and the registration of its iShare Bitcoin Trust. The potential filing of a spot Ethereum ETF by BlackRock has been a topic of speculation among industry experts. Despite the SEC’s current stance, which has yet to approve the first Bitcoin ETF offering in the country, BlackRock has consistently expressed optimism about the asset’s potential.

Portfolio Pulse from Murtuza Merchant

November 09, 2023 | 6:02 pm

ETHUSD

On Wednesday, 6,915.13 Ether (ETH) worth $14,014,280 was burned from Ethereum transactions. This follows the Ethereum blockchain's upgrade known as EIP-1159, which changed the fee model and burns a base fee from each transaction. Ethereum is currently issuing new Ether at a rate of 4% per year, expected to decrease to around 0.5-1% with the Ethereum 2.0 upgrade. The net annualized issuance rate for Ether yesterday was -7.45%.

Portfolio Pulse from Benzinga Insights

November 09, 2023 | 6:00 pm

IONS

Ionis Pharmaceuticals has announced positive results from a two-year Phase 2 open-label extension study of its investigational drug, donidalorsen, for patients with hereditary angioedema (HAE). The study showed a sustained reduction in HAE attacks and improved quality of life for patients. Donidalorsen recently received orphan drug designation in the U.S. and is expected to report Phase 3 results in H1 2024.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 5:45 pm

BTCUSD

JPM

XRPUSD

JPMorgan analysts have expressed skepticism about the recent crypto market surge, attributing it to the potential approval of a spot Bitcoin ETF in the U.S. and recent legal victories for the crypto industry. They believe the newly-approved ETFs are more likely to see a shift of existing capital from other Bitcoin products rather than attracting new capital. The analysts also addressed the impact of recent legal victories for Ripple and Grayscale on the future of crypto regulations.

Portfolio Pulse from Murtuza Merchant

November 09, 2023 | 5:42 pm

EIS

SPY

USO

U.S. Special Envoy David Satterfield stated that the U.S. does not believe a conflict involving Lebanon and Israel is inevitable. This statement may have implications for ETFs related to these regions.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 5:33 pm

LLY

Eli Lilly's shares are trading lower despite the FDA approval of Zepbound for chronic weight management. The stock had gained on Wednesday following the approval.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 5:29 pm

SPY

TLT

Richmond Federal Reserve President Thomas Barkin has suggested that slowing down the economy could be a strategy to combat inflation. He expressed skepticism about achieving the central bank’s 2% inflation target smoothly and stated that more inflation is expected. Despite anticipating a slowdown, Barkin believes the U.S. economy is prepared and any downturn may be less severe than past recessions. The S&P 500 index and Treasury yields were flat and higher respectively.

Portfolio Pulse from Piero Cingari

November 09, 2023 | 5:19 pm

SPY

Federal Reserve's Barkin has stated that he expects a modest slowdown in the economy, driven by lags that are yet to come.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 5:15 pm

SPY

Federal Reserve's Barkin has stated that inflation will be the key indicator to determine if the current level of rates is appropriate.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 5:11 pm