Streetbeat News

Regulatory

NVO

VGK

Novo Nordisk shares are trading lower premarket after Denmark's B.T. reported that the European Medicines Agency (EMA) raised safety concerns over the company's Ozempic and Wegovy drugs, citing potential cancer risks.

Portfolio Pulse from Charles Gross

June 22, 2023 | 8:57 am

QQQ

SPY

Wells Fargo's head of equity strategy, Chris Harvey, believes the tech rally will continue until the Federal Reserve becomes more aggressive and breaks the economy. He compares the current market to the tech boom of 1999-2000, which ended due to tighter monetary policy. Harvey also notes that the US economy has been less rate-sensitive than expected.

Portfolio Pulse from Bhavik Nair

June 22, 2023 | 6:59 am

BTCUSD

Bitcoin (BTC) has crossed the $30,000 mark, returning to the 'greed buy zone' as investment companies like Fidelity, Invesco, Wisdom Tree, Valkyrie, and BlackRock apply for spot Bitcoin ETFs with the SEC. The Crypto Fear & Greed Index indicates a 'greed' mentality among investors, while 61,723 traders faced liquidation in the past 24 hours, totaling $215.77 million.

Portfolio Pulse from Mehab Qureshi

June 22, 2023 | 6:45 am

AMAT

MU

India's Prime Minister Narendra Modi has invited Micron Technology and Applied Materials to boost semiconductor production in India, emphasizing the country's competitive advantages in the supply chain. India is promoting semiconductor development through a production-linked incentive (PLI) scheme, aiming to become a top destination in Asia for electronics and semiconductors.

Portfolio Pulse from Shomik Sen Bhattacharjee

June 22, 2023 | 6:39 am

PLNHF

California regulators have allocated $4.1 million to local cities and counties to facilitate cannabis business licensing. A study shows that teenagers living near medical marijuana dispensaries have lower rates of cannabis use. Nevada's cannabis regulator has granted the first conditional licenses for cannabis consumption lounges.

Portfolio Pulse from Jelena Martinovic

June 22, 2023 | 6:14 am

BLK

Former Barclays CEO Bob Diamond expressed his support for mainstream firms like BlackRock getting involved in the cryptocurrency market. BlackRock recently filed for a spot Bitcoin ETF, which, if approved, would make it the first company in the US to offer such an investment. Diamond called for stronger cooperation between the crypto industry and regulators.

Portfolio Pulse from Mehab Qureshi

June 22, 2023 | 6:09 am

AMZN

The U.S. Federal Trade Commission (FTC) has accused Amazon of enrolling millions of consumers into its paid subscription service, Amazon Prime, without their consent and making it difficult for them to cancel. Amazon has refuted these claims, calling them false on the facts and the law.

Portfolio Pulse from Benzinga Newsbot

June 22, 2023 | 4:54 am

BTCUSD

DOGEUSD

ETHUSD

Bitcoin surpassed $30,000 following remarks from US Federal Reserve Chair Jerome Powell on its staying power. Ethereum and Dogecoin also rose. The rally was fueled by major financial institutions exploring the crypto space, including BlackRock's Bitcoin ETF application. Powell emphasized the importance of strong federal oversight for stablecoins.

Portfolio Pulse from Mehab Qureshi

June 22, 2023 | 2:52 am

IMRN

Immuron has approved proceeding with IMM-529 cGMP manufacturing and FDA pre-IND submission for the treatment of Clostridioides difficile infection (CDI), a life-threatening gastrointestinal disease.

Portfolio Pulse from Charles Gross

June 21, 2023 | 11:32 pm

TD

The Toronto-Dominion Bank (TD) has received regulatory approval from the TSX and OSFI to repurchase up to 30 million of its common shares for cancellation under a normal course issuer bid. The bid will commence on June 26, 2023, and end on June 25, 2024.

Portfolio Pulse from Happy Mohamed

June 21, 2023 | 11:26 pm