Streetbeat News

Regulatory

MNMD

MindMed (NASDAQ:MNMD) has completed the enrollment and dosing phase of its Phase 2b trial, Study MMED008, which is researching the effectiveness of MM-120 in treating Generalized Anxiety Disorder (GAD). The trial recruited 198 participants across 20 clinical sites. The primary objective of the study is to establish the dose-response correlation among four MM-120 doses compared to a placebo. Top-line results are expected in Q4 2023.

Portfolio Pulse from The Dales Report

September 12, 2023 | 4:59 pm

BTCUSD

ETHUSD

During the testimony of U.S. Securities and Exchange Chair Gary Gensler before Congress, Bitcoin (BTC) and Ethereum (ETH) prices rose by nearly 4%. Gensler reiterated his stance that crypto asset securities markets should be subject to the same protections as traditional securities. He also suggested that most crypto tokens likely meet the investment contract test, implying they should comply with securities laws.

Portfolio Pulse from Khyathi Dalal

September 12, 2023 | 4:37 pm

TLRY

Shares of Tilray Brands Inc (NASDAQ:TLRY) are trading lower by 9.5% to $3.00, pulling back after recent gains. The cannabis industry has seen marked strength this month due to U.S. efforts to reschedule marijuana. The Department of Health and Human Services (HHS) has proposed reclassifying marijuana to a lower-risk drug category, which has positively impacted cannabis stocks. However, Tilray's stock has seen a pullback in today's session.

Portfolio Pulse from Henry Khederian

September 12, 2023 | 4:05 pm

USO

The U.S. Energy Information Administration (EIA) has revised its forecast for world oil demand growth in 2023, increasing it by 50,000 barrels per day (bpd) to a year-on-year increase of 1.81 million bpd. However, the forecast for 2024 has been cut by 250,000 bpd, with a year-on-year increase now expected to be 1.36 million bpd.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2023 | 4:05 pm

SPXL

SPXS

SPY

Ahead of Apple's iPhone event and key inflation data, the SPDR S&P 500 (NYSE:SPY) slipped almost 0.5%. Traders are waiting for the consumer price index data and the Federal Reserve's decision on interest rates. Experienced traders may choose to play the SPY through Direxion ETFs, SPXL and SPXS, which are triple leveraged funds that track the movement of the SPY. SPXS was trading slightly higher on Tuesday, indicating a period of consolidation and lack of interest from investors.

Portfolio Pulse from Melanie Schaffer

September 12, 2023 | 4:04 pm

SPY

The U.S. House of Representatives is not expected to vote on the impeachment inquiry against President Biden, according to a spokesperson for House Minority Leader Kevin McCarthy.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2023 | 3:58 pm

BNBUSD

COIN

SEC Chair Gary Gensler expressed significant concerns about the integrity of the cryptocurrency sector, citing 'fraud, abuse, and misconduct'. He did not directly answer a query on the filing of applications for a Bitcoin ETF. The SEC has recently charged leading cryptocurrency exchanges, Coinbase Global Inc. (NASDAQ:COIN) and Binance (CRYPTO: BNB), for violations of U.S. securities regulations. In response, U.S. Rep. Warren Davidson proposed a bill to reform the SEC and remove Gensler.

Portfolio Pulse from Murtuza Merchant

September 12, 2023 | 3:55 pm

JOBY

Joby Aviation has been granted U.S. Patent #11752899 for a high efficiency hydrogen-fueled high altitude thermodynamic fuel cell system and aircraft using the same. This could potentially revolutionize the aviation industry by providing a more sustainable and efficient fuel source.

Portfolio Pulse from Charles Gross

September 12, 2023 | 3:54 pm

CVX

LNG

SHEL

XOM

The energy sector is in the spotlight due to fluctuations in oil prices and a resurgent interest in heating oil. Liquefied natural gas (LNG) is expected to gain significant attention due to volatile inventory levels in the EU, labor disruptions in supply hubs, and geopolitical tensions. The U.S., a major player in the global LNG market, exported 3.8 trillion cubic feet of LNG in 2022. Last week, a dip in EU LNG inventories and Chevron Australia’s LNG strikes led to a spike in the price of UK Natural Gas and Henry Hub futures. Chevron (NYSE:CVX), ExxonMobil (NYSE:XOM), Cheniere Energy (NYSEAMERICAN: LNG), and Shell (NYSE:SHEL) are mentioned in the context of the LNG market.

Portfolio Pulse from Kevin Green

September 12, 2023 | 3:52 pm

BLK

COIN

Franklin Templeton has applied for a Bitcoin ETF, marking its entry into the cryptocurrency sector. The ETF, to be overseen by Coinbase Inc., is set for a listing on the Cboe BZX Exchange. This move mirrors actions by other financial powerhouses like Blackrock, who anticipate that the SEC might soon approve a spot Bitcoin ETF for the mainstream market.

Portfolio Pulse from Murtuza Merchant

September 12, 2023 | 3:48 pm