Streetbeat News

Regulatory

SPY

The White House has announced that it does not foresee any reason for a government shutdown next month. This statement could potentially alleviate concerns over economic instability.

Portfolio Pulse from Happy Mohamed

August 15, 2023 | 3:57 pm

SPY

Federal Reserve's Neel Kashkari stated that he does not see evidence of an impending recession. He also mentioned that monetary policy can impact the economy with a lag and there could be more slowdown still in the pipeline.

Portfolio Pulse from Happy Mohamed

August 15, 2023 | 3:56 pm

FXI

GOVX

SIGA

The Mpox virus continues to spread globally, with a significant increase in cases observed in the Western Pacific Region, driven by community transmission in China. The WHO has given a 'moderate' score for global risk assessment in all six WHO Regions. The main mode of transmission is skin and mucosal contact during sex. The WHO recommends vaccination for high-risk individuals and contacts of cases.

Portfolio Pulse from Happy Mohamed

August 15, 2023 | 3:54 pm

EWT

FXI

SIGA

The Taiwan Centers for Disease Control (CDC) has raised a travel notice for China and Thailand due to surges in monkeypox cases. The countries join 38 others on the Level 1 watch list. China reported 491 cases in July, a 4.6 times increase from June. Thailand has had 119 cases. The CDC confirmed 14 cases in Taiwan between Aug. 8-13, bringing the total to 280 since June last year.

Portfolio Pulse from Happy Mohamed

August 15, 2023 | 3:51 pm

CMPS

CYBN

DRUG

ENVB

MNMD

SEEL

US Treasury Secretary Janet Yellen recently shared her experience of consuming a psychedelic mushroom dish in China, which did not have any hallucinogenic effects. The incident has sparked discussions around psychedelic substances and their potential therapeutic uses. Yellen has previously expressed frustration over the barriers faced by the marijuana industry due to federal prohibition. The National Institute on Drug Abuse (NIDA) and the Food and Drug Administration (FDA) are also actively involved in research and policy-making around psychedelics.

Portfolio Pulse from Happy Mohamed

August 15, 2023 | 3:48 pm

SPY

Federal Reserve's Neel Kashkari has expressed surprise at the housing market's response to rate hikes, stating that he would have expected a more drastic slowdown. Instead, he observes that the housing market appears to have bottomed out and is now on a recovery path.

Portfolio Pulse from Happy Mohamed

August 15, 2023 | 3:37 pm

SPY

Federal Reserve's Neel Kashkari has stated that regional banks are under intense scrutiny, although the banking system is generally stable. However, a few banks are receiving extra scrutiny. The risk is that if the Fed has to raise rates further, banks could face more losses.

Portfolio Pulse from Happy Mohamed

August 15, 2023 | 3:29 pm

VFS

VGK

VinFast's CEO announced that the company is in the process of obtaining a safety rating from the Euro New Car Assessment Program. The CFO also stated that they expect to finalize funding from external investors within the next 18 months.

Portfolio Pulse from Happy Mohamed

August 15, 2023 | 3:25 pm

Hawaiian Electric Industries, Inc. (NYSE:HE) shares are trading lower by 7.6% amid wildfires in Hawaii. The company is facing scrutiny for not shutting off power to reduce fire risks. Despite being aware that a power shutdown would have been an effective preventive measure, the utility still needed to integrate this strategy into its fire mitigation protocols.

Portfolio Pulse from Henry Khederian

August 15, 2023 | 3:14 pm

FCX

TECK

Shares of metal companies are trading lower due to potential weakened metal demand in China. This is due to concerns about China's economic health following weak industrial production and retail sales data for July, and rate cuts from the People's Bank of China.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2023 | 3:12 pm