Streetbeat News

Regulatory

ABOS

Acumen Pharmaceuticals announced it will present topline results from a Phase 1 trial of its Alzheimer's drug candidate ACI193 at the Alzheimer's Association International Conference in July, causing its shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2023 | 3:33 pm

SPY

VGK

Russian President Vladimir Putin stated that Russia will use weapons with depleted uranium if necessary, potentially escalating geopolitical tensions.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2023 | 3:28 pm

SPY

The inflation rate dropped to 4% YoY in May, lower than the 4.1% forecast, while core inflation came in at 5.3% YoY. The SPDR S&P 500 ETF Trust (NYSE:SPY) hit 13-month highs as risky assets reacted positively to the CPI report. Five economists speculate on the Federal Reserve's next move.

Portfolio Pulse from Piero Cingari

June 13, 2023 | 3:19 pm

SPY

VGK

NATO Secretary Stoltenberg announced that Ukraine has launched its offensive and is making advances, gaining ground. SPY and VGK ETFs may be impacted by the news.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2023 | 3:18 pm

SPY

The U.S. Environmental Protection Agency (EPA) will release biofuel blending mandates for 2023-2025 by June 21, following a delay, according to a court filing.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2023 | 3:15 pm

XOM

Exxon Mobil Corp (XOM) shares are trading higher by 1.12% to $107.61 during Tuesday's session. The increase is attributed to China's central bank cutting its seven-day reverse repurchase rate and May CPI data showing slowing U.S. inflation. The People's Bank of China (PBOC) reduced a key short-term lending rate for the first time in 10 months to support the post-pandemic rebound.

Portfolio Pulse from Henry Khederian

June 13, 2023 | 3:14 pm

FCX

Freeport-McMoRan Inc (FCX) shares are trading higher by 5.82% after China's central bank cut its seven-day reverse repurchase rate, which could stimulate economic growth and support demand. The People's Bank of China (PBOC) reduced a key short-term lending rate for the first time in 10 months to bolster market confidence and support the sluggish post-pandemic rebound.

Portfolio Pulse from Henry Khederian

June 13, 2023 | 3:08 pm

BABA

Alibaba Group Holding Ltd (NASDAQ:BABA) shares are trading higher after China's central bank cut its seven-day reverse repurchase rate from 2% to 1.9%. The rate cut aims to improve market confidence amid the country's sluggish post-pandemic recovery.

Portfolio Pulse from Adam Eckert

June 13, 2023 | 3:08 pm

CWBHF

CWEB

Charlotte's Web Holdings (OTCQX:CWBHF) (TSX:CWEB) responded to demands from Joel and Jesse Stanley to replace a majority of board members, including all but one independent board member, with four individuals selected by them. The company highlighted the significant conflicts of interest and circumvention of vetting procedures in their demands.

Portfolio Pulse from Vuk Zdinjak

June 13, 2023 | 2:36 pm

SPY

The Federal Reserve announced that the FOMC meeting began at 10:30 a.m. as scheduled.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2023 | 2:33 pm