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BTCUSD

DOGEUSD

ETHUSD

Major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) traded lower following hawkish comments from Federal Reserve Chair Jerome Powell about potential multiple interest rate hikes. Bitcoin briefly fell below the $30,000 mark but regained its position. Amid the market pullback, Bitcoin surpassed Ethereum and other cryptocurrencies, reaching its highest level of dominance in 26 months. The global crypto market capitalization declined by almost 2% over the last day. Analysts suggest that Bitcoin 'wants to continue rallying'.

Portfolio Pulse from Shivdeep Dhaliwal

June 29, 2023 | 2:16 am

BAC

JOBY

OSTK

TSLA

U.S. stocks traded mixed with Dow Jones dropping around 70 points and NASDAQ rising 0.27%. Micron Technology's stock rose 0.42% due to better-than-expected Q3 results. Joby Aviation's stock soared 40.22% after receiving a permit for flight testing of its first production prototype. Tesla's stock rose 2.41% after Volvo joined Tesla’s charging network. Bank of America's stock fell 0.60% despite passing the 2023 stress test conducted by the Federal Reserve. Overstock.com's stock rose 6.11% for reasons yet to be identified.

Portfolio Pulse from Benzinga Newsbot

June 29, 2023 | 12:49 am

ATVI

MSFT

Microsoft CEO Satya Nadella expressed his dislike for exclusive deals between game companies and consoles at a federal court hearing. This comes as U.S. regulators attempt to prevent Microsoft's acquisition of Activision Blizzard. Microsoft plans to make certain Activision games more widely available if the acquisition goes through. However, Sony has not accepted Microsoft's offer and opposes the acquisition. The FTC is concerned that the acquisition could allow Microsoft to withhold popular games from other consoles or degrade service for those games elsewhere.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 11:41 pm

LOBEF

Lobe Sciences Ltd. (OTCQB:LOBEF) has started its Phase 1 clinical study on proprietary psilocin analog L-130, aimed at treating Chronic Cluster Headaches (CCH). The study is being conducted in Jordan under the country’s FDA authority. The results of the study, expected to be completed in Q3 2021, will be used to determine L-130 dose levels for an upcoming Phase 2a study in CCH.

Portfolio Pulse from Lara Goldstein

June 28, 2023 | 10:27 pm

BAC

JPM

All 23 banks passed the Federal Reserve's annual stress test, reaffirming the stability of the U.S. banking system. The test involved a hypothetical recession and financial market shock scenario. Despite a projected $541 billion loss, all banks remained above their minimum capital requirements. The test included major banks like JPMorgan Chase & Co, Bank of America Corp, Goldman Sachs Group Inc, and Citigroup Inc.

Portfolio Pulse from AJ Fabino

June 28, 2023 | 9:13 pm

QQQ

SPY

The U.S. Treasury yield curve has inverted further, with the yield on the two-year note exceeding the yield on the 10-year note by a full percentage point. This is the biggest level of inversion since March 9. The New York Federal Reserve’s recession probability model now predicts a 71% chance of a recession occurring during the next 12 months. Despite these warnings, the stock market remains strong with the Nasdaq 100 index and the S&P 500 entering a bull market.

Portfolio Pulse from Piero Cingari

June 28, 2023 | 9:10 pm

BAC

KRE

SCHW

WFC

Bank stocks are trading higher after the Federal Reserve's stress test results showed all 23 banks tested remained above their minimum capital requirements during a hypothetical recession.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 8:44 pm

BBLN

Babylon Holdings has received a notice from the New York Stock Exchange (NYSE) regarding its failure to meet continued listing standards. As a result, the company is facing an upcoming delisting.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 8:43 pm

BAC

KRE

PNC

SCHW

WFC

XLF

All 23 banks passed the Federal Reserve's stress test, indicating they are well-positioned to continue lending even in a severe recession. This news led to a gain in bank stocks after hours.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 8:40 pm

LEU

Centrus Energy has filed for a mixed shelf offering of up to $200 million, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 8:39 pm