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Regulatory

QQQ

SPY

Ahead of Federal Reserve Chairman Jerome Powell's testimony before Congress, major Wall Street indices closed in the red on Tuesday. Higher-than-expected UK inflation has also raised concerns among market participants. Options market outlook for SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust Series 1 (QQQ) indicate resistance and support levels for this week.

Portfolio Pulse from Bhavik Nair

June 21, 2023 | 11:31 am

SBUX

SHAK

Chinese regulators in Shanghai have reportedly reprimanded Starbucks Corp (NASDAQ:SBUX) and Shake Shack Inc (NYSE:SHAK) for privacy breaches, accusing them of excessively collecting personal information. Shake Shack and another company have made basic improvements to address the issues, while Starbucks is said to be making changes to meet the regulators' criteria.

Portfolio Pulse from Shivani Kumaresan

June 21, 2023 | 11:20 am

Li Auto shares are trading higher after China announced an extension to the new energy vehicle purchase tax exemption until 2027, with a maximum cap of 30,000 yuan ($4,169) per vehicle until the end of 2025.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2023 | 11:18 am

UBX

Unity Biotechnology announced the design of its Phase 2B ASPIRE clinical trial for UBX1325 (Foselutoclax) to be conducted head-to-head against Aflibercept in previously treated patients with active diabetic macular edema. The first patient is expected to be dosed in Q4 of 2023.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2023 | 11:17 am

PRTC

PureTech Health has initiated a Phase 2A proof-of-concept trial of LYT-300 (oral allopregnanolone) in healthy volunteers using a validated clinical model of anxiety. Results are expected by the end of 2023. A Phase 2A trial in patients with postpartum depression is planned to start in 2H 2023.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2023 | 11:15 am

FDX

KBH

LZB

NIO

PDCO

QQQ

SCS

SPY

WGO

XPEV

US stocks are expected to have a cautious start on Wednesday as traders anticipate Federal Reserve Chair Jerome Powell's Congressional testimony. FedEx Corp.'s disappointing guidance may cause anxiety about the economy. Chinese EV startups Nio, XPeng, and Li Auto rally after China extends green-energy vehicle incentives.

Portfolio Pulse from Shanthi Rexaline

June 21, 2023 | 11:11 am

XERS

Xeris Biopharma has announced the dosing of the first participant in a Phase 2 clinical study of its investigational subcutaneous levothyroxine (XP-8121) for patients with hypothyroidism.

Portfolio Pulse from Bill Haddad

June 21, 2023 | 11:11 am

CMMB

Chemomab Therapeutics reports positive data from a secondary analysis of its Phase 2a liver fibrosis trial in NASH patients, showing that treatment with CM-101 improves additional biomarkers of fibrosis and inflammation, reinforcing and extending initial study results.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2023 | 11:08 am

QURE

uniQure announces interim data from Phase I/II trial of AMT-130 in Huntington's disease, showing preserved function and clinical benefits compared to the disease's natural history. The data supports continuing clinical development and pursuing regulatory interactions for late-stage development.

Portfolio Pulse from Bill Haddad

June 21, 2023 | 11:08 am

BLUE

bluebird bio announced that the FDA has granted priority review for its Biologics License Application (BLA) for lovotibeglogene autotemcel (lovo-cel) in patients with sickle cell disease aged 12 years and older with a history of vaso-occlusive events.

Portfolio Pulse from Bill Haddad

June 21, 2023 | 11:06 am