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Regulatory

FXI

SPY

The U.S. and China have agreed to open communication lines after a diplomatic push. This could potentially ease tensions between the two nations, which may have a positive impact on the global market.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 3:51 pm

FTTUSD

The U.S. Department of Justice (DoJ) is intensifying efforts to secure the detention of FTX founder Sam Bankman-Fried pending trial. The DoJ has submitted a letter to a district court arguing for the revocation of Bankman-Fried's bail, alleging attempts to manipulate public perception and influence the trial's outcome. The DoJ maintains that Bankman-Fried shared private writings of a key witness with the New York Times to influence public perception.

Portfolio Pulse from Murtuza Merchant

August 04, 2023 | 3:48 pm

COIN

Coinbase Global Inc's shares dipped slightly despite beating earnings expectations. The company reported a loss of 42 cents per share, better than the expected 78 cent loss, and revenues of $707.09 million, beating the $643.36 million consensus estimate. However, transaction revenue decreased by 13% and subscription revenues dropped by 7% from the first quarter. Analysts have mixed views on the company's future prospects, with some praising its resilience and others highlighting regulatory risks and sustainability concerns.

Portfolio Pulse from AJ Fabino

August 04, 2023 | 3:46 pm

SPY

Federal Reserve Bank of Atlanta President Raphael Bostic stated that U.S. employment gains are slowing in an orderly manner, and there is no need for further rate hikes, according to Bloomberg.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 3:45 pm

SPY

Federal Reserve's Goolsbee has stated that the job market is getting into balance. This statement could have implications for the overall economy and the stock market.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 3:40 pm

MF

Shares of Missfresh (MF) resumed trading but were halted again due to a circuit breaker triggered by a 269% increase in the stock price.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 3:39 pm

SPY

Federal Reserve's Goolsbee stated that the July jobs report was 'pretty much what we expected', according to Reuters. The statement suggests that the job market is performing as anticipated by the Federal Reserve.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 3:38 pm

BLOZF

Cannabix Technologies Inc. has filed an International Patent Application for its breath sample capture technology, which has detected delta-9 THC in early testing. The company is in discussions with forensic laboratory organizations to integrate its technology into current testing methods. This comes as California's employment laws change, prohibiting employers from making decisions based on the presence of non-psychoactive cannabis metabolites in drug screening.

Portfolio Pulse from Vuk Zdinjak

August 04, 2023 | 3:36 pm

GTBIF

Colorado Governor Jared Polis expressed satisfaction with the legalization of marijuana and psychedelics, citing benefits such as job creation and tax revenue generation. New Mexico set a record with $34 million in recreational cannabis sales in July 2023. Federal, state, and local officials voted to add new marijuana items to a federal handbook to establish model standards for cannabis definitions, packaging, and labeling. New York's legal cannabis sales reached $33 million in the first six months, falling short of projections. Employees at Warwick's RISE Dispensary in Rhode Island unionized with UFCW Local 328 after Green Thumb Industries (OTC:GTBIF) took over the dispensary in 2021.

Portfolio Pulse from Nicolás Jose Rodriguez

August 04, 2023 | 3:36 pm

SPY

Federal Reserve's Bostic stated that the U.S. jobs numbers were as expected and he is comfortable with the current situation. He also mentioned that the Fed is likely to be in restrictive territory well into 2024 and is on a trajectory to reach 2% inflation. He is not surprised that wages are still strong and is keeping an eye on it.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 3:36 pm