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Regulatory

SPY

Treasury Secretary Yellen stated that U.S. growth is contributing to stronger global outcomes. She also mentioned that Americans are feeling good about their personal finances, according to Bloomberg TV.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 5:34 pm

SPY

US Treasury Secretary Janet Yellen has stated that the US GDP is strong and the economy is performing well. However, she does not expect the growth to continue at the current pace, predicting a GDP of around 2.5%. She sees a 'soft landing' for the economy, with strong consumer spending.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 5:33 pm

SPY

Treasury Secretary Janet Yellen is scheduled to speak live at 1:30 pm ET. The event may have implications for the SPY ETF.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 5:25 pm

AMD

GOOG

INTC

META

MSFT

NVDA

Nvidia Corp's stock is experiencing a selloff following the U.S.'s early implementation of an export embargo on artificial intelligence chips. China accounts for 20%-25% of Nvidia's data center revenues. Despite this, CNBC's Jim Cramer remains optimistic about Nvidia due to increasing demand from Alphabet Inc and Microsoft Corp. The sanctions are expected to increase competition in the U.S., potentially affecting Advanced Micro Devices, Inc and Intel Corp. Nvidia is developing CPUs to support Microsoft's Windows operating system. Lackluster earnings results from Wall Street and Meta Platforms Inc's Q3 revenue report also impacted the stock.

Portfolio Pulse from Anusuya Lahiri

October 26, 2023 | 4:18 pm

MBIO

Mustang Bio has announced that the FDA has accepted its IND application for MB-109, a treatment for recurrent glioblastoma and high-grade astrocytoma. This news has led to a rise in the company's share prices.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 4:04 pm

MULN

Mullen Automotive's shares are trading higher following a favorable decision from the Nasdaq Hearings Panel.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 4:03 pm

EIS

SPY

USO

Iran's Foreign Minister has issued a warning to Washington over its military and financial support to Israel. The warning could potentially escalate tensions between Iran and the U.S., which may impact global markets.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 3:53 pm

PXMD

PaxMedia has announced the completion of a type-B meeting with the FDA, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 3:53 pm

EIS

SPY

USO

Iran's Foreign Minister has warned that if the 'genocide' in Gaza continues, the U.S. will not be spared 'from this fire'. Additionally, Hamas is ready to release civilian prisoners and the world should support the release of 6000 Palestinian prisoners.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 3:48 pm

AAPL

AMZN

GOOG

META

MSFT

NVDA

QQQ

SPY

TSLA

The US economy has shown its strongest quarterly performance since Q4 2021, with a 4.9% QoQ annualized growth rate in Q3, surpassing market expectations of 4.3%. Despite the Federal Reserve's intention to slow consumer spending by raising interest rates, consumers continued to boost spending in Q3. However, there are concerns that the Fed might indicate the need for rate increases by the end of the year if inflation persists. This news has negatively impacted the US stock market, with the SPDR S&P 500 ETF Trust and the Invesco QQQ Trust falling 0.2% and 0.7% respectively. The 'magnificent seven' basket, including Apple, Microsoft, Alphabet, Amazon, Meta Platforms, NVIDIA, and Tesla, fell 1.4%.

Portfolio Pulse from Piero Cingari

October 26, 2023 | 3:32 pm