Streetbeat News

Regulatory

LDOS

MSFT

Microsoft Corporation (NASDAQ:MSFT) is in the news for a strategic collaboration with Leidos Holdings (NYSE:LDOS) to expedite AI transformation in the public sector. However, Microsoft is also facing a call for a federal investigation into its cybersecurity services, and a dispute over the extent of a recent system breach.

Portfolio Pulse from Mohit Manghnani

August 04, 2023 | 10:02 am

SPY

Federal Reserve's Goolsbee stated that any potential rate cut would be far out in the future. The decision on when to cut rates will depend on whether the Fed can manage to bring down inflation without causing a recession.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 9:58 am

SPY

Fed's Goolsbee has expressed the need to bring inflation down, stating that the 'Golden Path' of reducing inflation without causing a major recession is a 'tight line', but so far, the approach has been successful. The markets fully expect the Fed to successfully bring inflation down.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 9:56 am

SPY

Federal Reserve's Goolsbee expressed optimism about inflation, stating that further policy tightening will depend on price movements. He emphasized the need for sustained, steady progress on inflation.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 9:55 am

SPY

Fed's Goolsbee comments that the JOLTS data is consistent with a strong labor market transitioning to a more balanced phase. He also mentions that recent FOMC decisions were 'close calls' for him as the Fed manages this transition.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 9:54 am

CNBS

POTX

THCX

TOKE

YOLO

The potential rescheduling of cannabis and removal of Tax Rule 280E could boost profits for U.S. businesses, but Zuanic and Associates' report warns of complexities and overlooked consequences. Rescheduling medical marijuana (MMJ) could lead to stricter FDA regulations, limit prescription accessibility, and invite pharmaceutical companies into the industry. For Multi-State Operators (MSOs), rescheduling could alleviate the 280E burden but also introduce regulatory challenges. In 2022, 16 MSOs paid $761 million in corporate income tax, while the entire industry paid $1.2-1.5 billion.

Portfolio Pulse from Nicolás Jose Rodriguez

August 04, 2023 | 9:53 am

EWJ

Japan is building a supply chain for electric vehicle (EV) battery minerals in Africa, according to Nikkei. This move is aimed at reducing Japan's reliance on China for these critical resources. The report did not mention any specific companies involved in this initiative.

Portfolio Pulse from Charles Gross

August 04, 2023 | 9:51 am

SNMP

Shares of Evolve Transition Infrastructure, LP (SNMP) are up by 47% on heavy trading volume, with over 1.92 million shares traded, far exceeding the stock's 100-day average of 43,996 shares. This follows the NYSE Regulation's withdrawal of its delisting determination, allowing the company's common units to commence trading on the NYSE American.

Portfolio Pulse from Erica Kollmann

August 04, 2023 | 9:44 am

EWC

META

Andy Stone, a representative from Meta, announced that the company has started the process of ending news availability in Canada. This decision could potentially affect the way Canadians interact with news on Meta's platforms.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 9:43 am

BMO

PNC

SPY

Investors' bets on a pause at the Federal Reserve's September meeting surged to an 81.5% probability, the highest recorded thus far. The disappointing July manufacturing activity data and a decline in job openings have been driving expectations higher for an interest rate pause. Mild inflation data expected before the September 19-20 meeting, along with potential challenges like the recommencement of student loan payments, are seen as reasons to justify a temporary pause in rate hikes.

Portfolio Pulse from Piero Cingari

August 04, 2023 | 9:42 am