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The S&P 500 and Dow Jones recorded slight gains on Friday, while the Nasdaq 100 also rose by 0.20%. Schlumberger Limited reported worse-than-expected Q2 revenue results, causing its shares to fall by 2.2%. American Express Company reported better-than-expected Q2 earnings and reaffirmed its FY23 outlook. The Fed is expected to increase interest rates by 25 basis points this week. The CBOE Volatility Index fell by 3.5%.

Portfolio Pulse from Lisa Levin

July 24, 2023 | 10:45 am

IMGN

ImmunoBiochem has entered into a multi-target license and option agreement with ImmunoGen. As part of the agreement, ImmunoGen will pay ImmunoBiochem an upfront fee for an exclusive license to existing antibodies. ImmunoBiochem will be eligible to receive milestone payments and royalties based on the achievement of pre-specified development, regulatory, and commercial milestones.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 10:35 am

ETHUSD

Ethereum co-founder, Vitalik Buterin, has expressed concerns about WorldCoin's proof-of-personhood system as the cryptocurrency goes live on Binance. Buterin highlighted the importance of proof of personhood in preventing manipulation of decentralized governance by wealthy actors and hostile governments. He pointed out potential risks associated with government-backed identity systems, including privacy breaches, limited accessibility, potential centralization, and security vulnerabilities. He also suggested that a combination of different approaches may be the most effective solution.

Portfolio Pulse from Mehab Qureshi

July 24, 2023 | 10:12 am

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On Friday, July 20, the U.S. Markets ended mixed, with Dow Jones continuing its winning streak for the tenth day. Over 75% of S&P 500 companies that have disclosed quarterly results thus far have exceeded profit estimates. The U.S. Federal Reserve is expected to raise interest rates again on July 26, 2023. Asian and European markets showed mixed results, with Japan's Nikkei 225 and Germany's DAX index trading higher, while Australia's S&P/ASX 200 and France's CAC 40 traded lower. Commodities and US futures were generally trading higher.

Portfolio Pulse from Akanksha Bakshi

July 24, 2023 | 9:55 am

FXI

Chinese President Xi Jinping has stated that China will strive to achieve its annual development goals, according to Reuters. This could potentially impact the iShares China Large-Cap ETF (FXI).

Portfolio Pulse from Charles Gross

July 24, 2023 | 9:44 am

FXI

China's Politburo has stated that the country's economic recovery will be a difficult process, according to Reuters. This could potentially impact the iShares China Large-Cap ETF (FXI).

Portfolio Pulse from Charles Gross

July 24, 2023 | 9:31 am

FXI

China's Politburo plans to accelerate the issuance and usage of local government special bonds and increase the number of international flights, according to Reuters.

Portfolio Pulse from Charles Gross

July 24, 2023 | 9:26 am

FXI

China's Politburo plans to actively expand domestic demand, including boosting consumption of auto, electronics, and household products, and promoting tourism consumption.

Portfolio Pulse from Charles Gross

July 24, 2023 | 9:25 am

FXI

China's Politburo plans to implement a series of measures to address local government debt issues, promote the sustainable development of platform companies, and ensure the secure development of artificial intelligence, according to Reuters.

Portfolio Pulse from Charles Gross

July 24, 2023 | 9:22 am

FXI

China's Politburo plans to adjust and optimize property policies at an appropriate time to promote sound and stable development of the property market and meet the demands of rigid and improving housing needs.

Portfolio Pulse from Charles Gross

July 24, 2023 | 9:21 am