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PDD

PDD Holdings Inc - ADR shares are trading higher by 3.98% to $73.87. The rise is attributed to positive sentiments in the Chinese tech sector following a meeting between Premier Li Qiang and heads of tech companies, and positive comments from China's NDRC on Alibaba and Tencent. Additionally, the NDRC has commended projects from ten internet giants, including PDD, as part of China's 'green-light projects' aimed at stimulating the economy.

Portfolio Pulse from Henry Khederian

July 12, 2023 | 3:19 pm

BABA

BIDU

Baidu Inc's shares are trading higher after Premier Li Qiang met with heads of multiple tech companies, raising hopes of an end to the crackdown on the sector. China's NDRC made positive comments on Alibaba Group and Tencent. China also ended its regulatory overhaul on Ant Group by imposing a penalty. The NDRC commended projects from ten internet giants, aiming to stimulate the real economy and foster economic growth.

Portfolio Pulse from Henry Khederian

July 12, 2023 | 3:19 pm

SPY

VGK

According to Reuters citing Tass, Russian President Vladimir Putin has no immediate plans to speak with Turkish President Recep Tayyip Erdogan.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 3:17 pm

SPY

The U.S. State Department has detected anomalous activity and has taken immediate steps to secure its systems. The department will continue to closely monitor and respond quickly to further cyber activity.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 3:10 pm

SQQQ

ProShares UltraPro Short QQQ ETF (SQQQ) shares are trading lower by 3.97% due to softer-than-expected inflation data for June. The ETF, which inversely tracks the Nasdaq-100, is primarily used for short-term trading and market timing strategies. The lower inflation data has reinforced investor expectations of a single rate hike by the Federal Reserve followed by a halt to its tightening cycle.

Portfolio Pulse from Henry Khederian

July 12, 2023 | 3:08 pm

QQQ

TQQQ

ProShares UltraPro QQQ (TQQQ) shares hit a new 52-week high, trading higher by 3.82% to $42.02. This follows the release of June CPI data showing softer-than-expected inflation, reinforcing investor expectations of a single rate hike by the Federal Reserve. TQQQ seeks daily investment results that correspond to three times the daily performance of the Nasdaq-100 (QQQ).

Portfolio Pulse from Henry Khederian

July 12, 2023 | 3:03 pm

AZN

AstraZeneca's shares are trading higher following the approval of Enhertu in China for the treatment of HER2-low metastatic breast cancer.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 2:50 pm

SPY

Minneapolis Fed President Kashkari has expressed support for Barr's proposal on capitalization, stating it would be a step in the right direction.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 2:38 pm

SPY

Minneapolis Fed President Kashkari stated that small and midsize banks are feeling deposit-constrained, while the biggest banks have more liquidity. He suggested that higher capitalization across US banks would better position the U.S.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 2:38 pm

SPY

Minneapolis Fed President, Kashkari, has stated that he would be reluctant to adjust the balance sheet runoff for the sake of bank stress. This statement suggests that the Federal Reserve is not planning to intervene in the current market conditions to alleviate bank stress.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 2:33 pm