Streetbeat News

Regulatory

BLK

BTCUSD

US investors are increasingly investing in Bitcoin (CRYPTO: BTC) as major financial institutions like BlackRock Inc (NYSE:BLK), Fidelity, and Citadel increase their engagement, contributing to Bitcoin's 85% surge this year. Bitcoin's gains are particularly notable during US market hours, with a 30% increase in cumulative gains since dropping to around $16,000. BlackRock's application for a Bitcoin spot exchange-traded fund was rejected by the SEC, but the company can resubmit. Bitcoin has shown signs of disassociating from the US stock markets, including the S&P 500 and Nasdaq.

Portfolio Pulse from Murtuza Merchant

June 30, 2023 | 5:30 pm

SLM

SOFI

SPY

President Biden is set to deliver remarks on the Supreme Court's decision to block student loan relief at 3:30 p.m. This could potentially impact companies like SLM Corporation, SoFi Technologies, and the SPDR S&P 500 ETF Trust.

Portfolio Pulse from Benzinga Newsdesk

June 30, 2023 | 5:28 pm

AMD

NVDA

Nvidia Corp's stock is trading higher after an upgrade from Daiwa Capital from Neutral to Outperform and a raised price target from $408 to $475. Analysts expect Nvidia to outperform its rivals, including Advanced Micro Devices, Inc. Despite U.S. export controls and a preexisting embargo restricting sales of some AI chips to China, Nvidia is expected to continue strong growth due to Gen AI adoption. The company's management does not expect a significant impact from potential new China export controls in the near term.

Portfolio Pulse from Anusuya Lahiri

June 30, 2023 | 5:20 pm

PBLA

Panbela Therapeutics has been granted European Patent Number EP3746425 for its lead investigational product SBP-101, used for the treatment of metastatic pancreatic cancer.

Portfolio Pulse from Happy Mohamed

June 30, 2023 | 4:53 pm

SLM

SOFI

SPY

President Biden has expressed his determination to find alternative ways to provide student loan relief after the Supreme Court blocked his efforts. This could potentially impact companies like SLM and SOFI, which are involved in student loan services.

Portfolio Pulse from Happy Mohamed

June 30, 2023 | 4:52 pm

MRK

Merck & Co has stated that the revised Medicare drug negotiation program guidance does not address the fundamental constitutional issues with the statute.

Portfolio Pulse from Happy Mohamed

June 30, 2023 | 4:52 pm

SLM

SOFI

SPY

President Biden is set to speak on the Supreme Court decision that blocked student loan relief. This could potentially impact companies like SLM and SOFI, as well as the SPY ETF.

Portfolio Pulse from Happy Mohamed

June 30, 2023 | 4:48 pm

SPY

The Dallas Federal Reserve's Personal Consumption Expenditures (PCE) index for May was reported at 3.20%, lower than the previous month's 4.30%.

Portfolio Pulse from Happy Mohamed

June 30, 2023 | 4:41 pm

SOFI

SoFi shares are trading lower following the US Supreme Court's decision to block Biden's student loan forgiveness program.

Portfolio Pulse from Benzinga Newsdesk

June 30, 2023 | 4:37 pm

BLK

BTCUSD

COIN

The SEC has rejected recent applications for spot bitcoin ETFs filed by asset managers including BlackRock and Fidelity Investments, citing lack of clarity and comprehensiveness. This comes as bitcoin and crypto-related stocks have surged following BlackRock's ETF application. Bitcoin has risen by approximately 20%, while shares of Coinbase Global, the custodian for the BlackRock fund's holdings, have surged by over 30%. Other asset managers have also reactivated or amended their applications for spot Bitcoin ETFs.

Portfolio Pulse from Murtuza Merchant

June 30, 2023 | 4:32 pm