Streetbeat News

Regulatory

BABA

BIDU

EWH

NIO

TME

China's central bank, the People's Bank of China, has launched measures to revitalize the real estate market, including reducing down-payment requirements and lowering interest rates on existing mortgages. However, these actions have not yet yielded the desired outcomes, causing concern among investors. Major stock indices in Hong Kong and mainland China saw declines, while Chinese stocks listed on U.S. exchanges showed mixed performance. Alibaba, JD.com, and Baidu saw decreases, while Tencent Music Entertainment Group posted a gain and Li Auto held steady.

Portfolio Pulse from Piero Cingari

August 31, 2023 | 3:17 pm

CMPS

CYBN

DRUG

ENVB

MNMD

SEEL

A recent study published in the Journal of the American Medical Association suggests that a single dose of psilocybin, a psychedelic compound produced by certain types of mushrooms, may have lasting benefits for people with major depressive disorder. The study adds to the growing body of evidence supporting the potential efficacy of psilocybin for depression treatment.

Portfolio Pulse from Happy Mohamed

August 31, 2023 | 3:08 pm

CGC

CURLF

TLRY

Shares of Curaleaf Holdings, Inc. (OTC:CURLF) are trading higher after the U.S. Department of Health and Human Services (HHS) recommended the rescheduling of marijuana. Other cannabis sector stocks, including Canopy Growth Corporation (NASDAQ:CGC) and Tilray Brands, Inc. (NASDAQ:TLRY), are also soaring on the news.

Portfolio Pulse from Erica Kollmann

August 31, 2023 | 3:04 pm

CGC

Canopy Growth Corporation (NASDAQ:CGC) shares are trading higher after the U.S. Department of Health and Human Services (HHS) recommended the rescheduling of marijuana. The recommendation is for marijuana to be rescheduled to a Schedule III substance from its current Schedule I status. The news has resulted in heavy trading volume for CGC shares, with over 30.7 million shares traded in the session, compared to the stock's 100-day average of 26.803 million shares.

Portfolio Pulse from Erica Kollmann

August 31, 2023 | 3:01 pm

EWT

FXI

SPY

US Secretary of Commerce Raimondo stated that Taiwan was not discussed during her recent conversations in China, according to Reuters.

Portfolio Pulse from Happy Mohamed

August 31, 2023 | 2:59 pm

FXI

SPY

US Secretary of Commerce Raimondo stated that Chinese counterparts requested relaxation of export controls, which she firmly denied. The discussion also touched on Boeing's presence in China, but the focus was not on individual companies.

Portfolio Pulse from Happy Mohamed

August 31, 2023 | 2:58 pm

SPY

USO

VGK

Russia's Deputy PM Novak has announced that Russia has agreed with OPEC+ on further actions. This could potentially impact the global oil market.

Portfolio Pulse from Happy Mohamed

August 31, 2023 | 2:55 pm

SPY

USO

Russia's Deputy Prime Minister Novak has announced that the main parameters of the OPEC+ deal will be revealed next week. This could potentially impact the oil market and related ETFs.

Portfolio Pulse from Happy Mohamed

August 31, 2023 | 2:54 pm

FXI

China's Industrial Bank has announced a cut in yuan deposit rates. This move could potentially impact the value of the yuan and related assets.

Portfolio Pulse from Happy Mohamed

August 31, 2023 | 2:53 pm

SPY

The White House has urged Congress to adopt a short-term measure to fund the federal government and prevent a potential shutdown at the end of September. The Biden administration has also requested additional funding for several programs, including an extra $1.4 billion for nutritional aid for low-income families. Without this additional funding, the Women, Infants and Children nutrition program (WIC) may have to implement waiting lists and cut benefits. The White House has also requested $1.9 billion for the Office of Refugee Resettlement and reiterated its call for another $20.6 billion in emergency aid for Ukraine.

Portfolio Pulse from Happy Mohamed

August 31, 2023 | 2:53 pm