Streetbeat News

Regulatory

ETHUSD

On Tuesday, 4,884.68 Ether (ETH) worth $8,957,679 was burned from Ethereum transactions. This follows the Ethereum blockchain's upgrade known as EIP-1159, which changed the fee model and includes a variable base fee that is burned, permanently removing it from circulation. Ethereum is currently issuing new Ether at a rate of 4% per year, expected to decrease to around 0.5-1% with the Ethereum 2.0 upgrade. The net annualized issuance rate for Ether yesterday was -5.05%.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 11:54 am

SPY

US Treasury Secretary Janet Yellen has expressed confusion over Fitch's recent downgrade of the US, given the current strength of the US economy.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 11:53 am

LTRY

Lottery.com has regained compliance with Nasdaq's listing rules. The company had previously received a notice from Nasdaq about potential delisting due to non-compliance with listing rules.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 11:52 am

AAPL

ACDVF

Apple Inc (AAPL) has complied with Chinese AI regulations by removing over a hundred ChatGPT-like apps from its China store. Air Canada (ACDVF) plans to offer Apple TV+ programming on its flights. Apple's Q3 results are awaited with high expectations, with strong iPhone revenues and growth in the Chinese market anticipated.

Portfolio Pulse from Mohit Manghnani

August 04, 2023 | 11:49 am

GTBIF

TSNDF

VRNOF

Cannabis is now legal in Minnesota, making it the 23rd state to legalize adult use. A bill has been filed to prepare for federal cannabis legalization with alcohol-like regulations. The U.S. Senate has approved legislation to protect people from being denied security clearances due to past cannabis use. TerrAscend preannounced stronger-than-consensus Q2 revenues and gross margins and provided robust full-year guidance. Looking ahead to the upcoming earnings, Green Thumb (OTC: GTBIF), Verano (OTC: VRNOF), and TerrAscend (OTC:TSNDF) (TSX:TSND) are favored among the Tier-1 MSOs.

Portfolio Pulse from Todd Harrison

August 04, 2023 | 11:48 am

SPY

The Kansas City Federal Reserve Bank has appointed Jeffrey Schmid, a former banking executive, as its new President and CEO. Schmid has over four decades of experience in the financial sector, including running three different financial institutions and a stint as a bank examiner.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 11:48 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) shares are trading lower amid overall market weakness and a downgrade of U.S. Treasuries by Fitch. The National Highway Traffic Safety Administration (NHTSA) has also opened an investigation into Tesla over steering control issues in the 2023 Model 3 sedan and Model Y crossover utility vehicles. Tesla shares are currently trading down by 2.67% at $254.11.

Portfolio Pulse from Erica Kollmann

August 04, 2023 | 11:46 am

FXI

TM

Toyota plans to increase its electric vehicle (EV) development efforts in China to compete with domestic players in the world's largest car market. The company will develop its own batteries, utilize big metal castings similar to Tesla, and focus on making its future cars as aerodynamic as possible. Toyota's suppliers Denso and Aisin will also increase their work in the powertrain department. The company will also develop 'smart cockpits' in China, with engineers from joint ventures with FAW Group, Guangzhou Automobile Group (GAC), and BYD working together at Toyota's largest research and development facility in China.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 11:42 am

SPY

White House Economic Adviser Bernstein has criticized the timing of Fitch's downgrade, stating that it makes no sense, according to CNBC.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 11:38 am