Streetbeat News

Regulatory

SPY

The probability of a Fed rate hike in June has decreased to a 1-in-3 chance, down from a 67% chance, following remarks from Fed's Jefferson, according to Fed Funds Futures data.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2023 | 5:37 pm

XTXXF

Adastra Holdings Ltd. reported Q1 2023 gross revenues of CA$9.5 million ($6.98 million), a 315% YoY increase and 39% QoQ increase. The company's CEO attributed the growth to market demand and nationwide presence. Adastra also received approval from Health Canada to produce and sell cocaine.

Portfolio Pulse from Jelena Martinovic

May 31, 2023 | 5:36 pm

QTEK

QualTek Services received a Nasdaq delisting notice, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2023 | 5:36 pm

SPY

Federal Reserve's Jefferson announced that the Fed staff is working diligently on the Basel III proposal, which is expected to be issued for public comment soon.

Portfolio Pulse from Happy Mohamed

May 31, 2023 | 5:31 pm

SPY

Federal Reserve's Jefferson stated that monetary policy works with a lag and a year is not long enough to feel the full effect. He added that the base case outlook is not for a recession, but higher interest rates and lower earnings could test businesses' ability to service debt.

Portfolio Pulse from Happy Mohamed

May 31, 2023 | 5:27 pm

SPY

Fed's Jefferson suggests skipping a rate increase at an upcoming meeting to allow officials to gather more data before deciding on the extent of additional tightening needed.

Portfolio Pulse from Happy Mohamed

May 31, 2023 | 5:26 pm

CGAU

Centerra Gold shares are trading higher after the Turkish Ministry of Environment, Urbanization and Climate Change approved the amended environmental impact assessment for the Öksüt mine. Multiple firms upgraded the stock.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2023 | 5:25 pm

SPY

Federal Reserve's Jefferson stated that holding the U.S. central bank's policy rate constant at a coming meeting should not be interpreted as rates reaching their peak for this tightening cycle.

Portfolio Pulse from Happy Mohamed

May 31, 2023 | 5:25 pm

SPY

President Biden expressed hope that Congress will have acted on the debt ceiling by the time he lands in Colorado later today, stating that things are going as planned.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2023 | 5:23 pm

GOOG

GOOGL

Google announced that in June 2023, it will remove restrictions on coronavirus and Covid-19 content under its Sensitive Events Policy. Ads containing Covid-19 related terms will no longer be restricted.

Portfolio Pulse from Happy Mohamed

May 31, 2023 | 5:22 pm