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SPY

The U.S. Senate has gathered enough votes to advance a bill that would prevent a government shutdown. This development could have implications for the overall market, potentially affecting ETFs like SPY.

Portfolio Pulse from Charles Gross

October 01, 2023 | 12:49 am

LLY

LMT

NVO

The House has passed a bill to fund the U.S. federal government for an additional 45 days, averting a potential government shutdown. Historical data shows that the economy has remained resilient during past government shutdowns. However, a shutdown could result in over 2 million federal workers facing furloughs or working without pay. Defense and healthcare sectors have historically rallied during shutdowns. Eli Lilly And Company (LLY), Novo Nordisk (NVO), and Lockheed Martin Corp. (LMT) are notable mentions in these sectors.

Portfolio Pulse from Nabaparna Bhattacharya

September 30, 2023 | 8:54 pm

BLK

BTCUSD

Bitcoin is set to record its first quarterly drop for the year, having declined approximately 11% since June. The downturn follows a robust 83% ascent in the first half of 2023. The Federal Reserve's decision to keep interest rates stable has heightened investor apprehension, leading to declines in both traditional and digital asset markets. The US Securities and Exchange Commission recently postponed its verdict on Bitcoin ETF proposals from BlackRock Inc.

Portfolio Pulse from Bibhu Pattnaik

September 30, 2023 | 8:08 pm

SPY

The U.S. House has passed a stopgap measure to prevent a government shutdown. This news may have implications for the SPY ETF, which tracks the S&P 500 and is often influenced by broad economic and political events.

Portfolio Pulse from Charles Gross

September 30, 2023 | 7:50 pm

ETHUSD

About 2,500 Ethereum (ETH), previously linked to an FTX account, started showing activity, raising eyebrows within the cryptocurrency community. The funds were split and transferred using various tools. This comes as Sam Bankman-Fried, who headed FTX, is preparing for a trial in the U.S. on allegations of fraud and conspiracy to commit fraud.

Portfolio Pulse from Bibhu Pattnaik

September 30, 2023 | 6:18 pm

AAPL

AMZN

GOOG

MSFT

The U.S. Defense Department is pressuring AI firms to reveal more about their technologies. The Pentagon's chief digital and artificial intelligence officer, Craig Martell, is leading this initiative. The Pentagon is advocating for a balance where companies can disclose essential information about their AI software without compromising their intellectual property. A symposium is scheduled in Washington in February 2024 to explore the potential applications and associated risks of large language models (LLMs) in defense. Leading LLM companies include Alphabet Inc., Apple Inc., Microsoft Corporation, Meta Platforms, Inc, and Amazon.Com, Inc. Palantir Technologies Inc was recently awarded a $250 million contract from the US Department of Defense.

Portfolio Pulse from Nabaparna Bhattacharya

September 30, 2023 | 4:44 pm

SPY

House Speaker McCarthy announced that the U.S. House will vote on a stopgap bill to fund the government for another 45 days, according to Reuters.

Portfolio Pulse from Charles Gross

September 30, 2023 | 3:05 pm

CI

The Cigna Group (NYSE:CI) has settled pending legal issues related to past Medicare Advantage risk adjustment practices. The company will pay approximately $172 million under agreements with the federal government, resolving a False Claims Act lawsuit and an investigation related to past risk adjustment submissions. This allows the company to move beyond industry-wide legal disputes and focus on delivering value to customers and taxpayers.

Portfolio Pulse from Charles Gross

September 30, 2023 | 1:14 pm

CI

The Cigna Group (NYSE:CI) has settled legal issues related to past Medicare Advantage risk adjustment practices. The company will pay approximately $172 million under agreements with the federal government. This resolves a False Claims Act lawsuit and an investigation related to past risk adjustment submissions from certain types of patient records.

Portfolio Pulse from Charles Gross

September 30, 2023 | 1:07 pm

TSLA

Tesla CEO Elon Musk has commented on the backlash he receives from the United Auto Workers (UAW) union and U.S. President Joe Biden. Musk's supporters have accused the Biden administration of not supporting his ventures. Musk has criticized Biden for supporting the UAW protest and not addressing immigration issues. UAW President Shawn Fain has criticized Musk for his stance against unionization.

Portfolio Pulse from Anan Ashraf

September 30, 2023 | 3:51 am