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NVDA

President Biden is set to impose new restrictions on the export of artificial intelligence chips to China, impacting stocks of Chinese AI companies and US companies like NVIDIA and AMD. The news has led to a 3.5% drop in NVIDIA's stock and a 3% drop in AMD's stock. Despite the AI frenzy, AMD's stock has lost about 20% from its peak. The 'magnificent seven' (Apple, Amazon, Alphabet, Meta Platforms, Microsoft, Nvidia, and Tesla) continue to perform and are responsible for a majority of the stock market gain in 2023.

Portfolio Pulse from The Arora Report

June 28, 2023 | 3:12 pm

REGN

Regeneron Pharmaceuticals' shares are trading lower after the FDA declined to approve a higher-dose version of EYLEA. This has led to multiple analysts lowering their price targets on the stock.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 3:06 pm

SPY

VGK

The ECB Forum on Central Banking, which included Fed Chair Powell, has concluded. No specific details or outcomes from the forum have been provided in the news.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 3:04 pm

SPY

Federal Reserve Chair Jerome Powell has stated that he does not foresee the US returning to a 2% inflation rate this year or the next, although he does see progress being made.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 3:00 pm

SPY

Federal Reserve Chairman Jerome Powell has stated that the Fed is trying to understand artificial intelligence better. This comes as the central bank is increasingly interested in the potential of AI in the financial sector.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 2:57 pm

SPY

Federal Reserve Chairman Jerome Powell has stated that the underlying pace of quantitative tightening is approximately $1 trillion per year. He also mentioned that the reserves appear quite ample, indicating that quantitative tightening has a long way to go.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 2:54 pm

NERV

Minerva Neurosciences, Inc (NASDAQ:NERV) has received a $20 million investment from Boehringer Ingelheim and Federated Hermes Kaufmann Funds via a private placement of its shares. The company plans to use the proceeds to support potential regulatory approval and market launch of roluperidone, a drug being developed to treat negative symptoms of schizophrenia. The private placement is expected to close on June 30, 2023.

Portfolio Pulse from Nabaparna Bhattacharya

June 28, 2023 | 2:49 pm

DAL

A Delta Airlines flight experienced mechanical issues and landed at Charlotte-Douglas International Airport, causing the runway to be temporarily closed. The incident has led to delays at the airport, with current delays ranging from 31 to 45 minutes.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 2:47 pm

SPY

Federal Reserve Chair Jerome Powell has stated that the overall US banking system is strong and resilient, according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 2:40 pm

SPY

Federal Reserve Chairman Jerome Powell stated that China's economy is not a primary consideration for the Federal Reserve's policy decisions, according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 2:32 pm