Streetbeat News

Regulatory

SPY

The U.S. Senate has voted in favor of passing the debt ceiling bill, with voting still ongoing. This move is expected to have an impact on the stock market, particularly the SPY ETF.

Portfolio Pulse from Happy Mohamed

June 02, 2023 | 2:50 am

SPY

The market is close to being overbought, with the RSI over 60 and the VIX nearing new 52-week lows. A downturn may be imminent, and raising stops is recommended to protect capital. Tomorrow's economic data on May jobs and potential progress on a US Senate debt limit bill could impact markets.

Portfolio Pulse from Joe Benjamin

June 01, 2023 | 10:54 pm

ABNB

Airbnb and several hosts have sued New York City over new registration requirements that they claim could effectively ban the service in the city. The regulation, which took effect in January and will be enforced from July, requires hosts to register with the city and comply with complex building, zoning, and other codes. Airbnb argues that the regulation is a de facto ban on short-term rentals and is intended to drive the trade out of New York City.

Portfolio Pulse from Happy Mohamed

June 01, 2023 | 10:00 pm

SPY

The Bureau of Labor Statistics is set to release the U.S. labor market report on Friday, which will influence the Federal Reserve's future monetary policy decisions. Economists expect a decline in nonfarm payrolls from 253,000 in April to 190,000 in May. The unemployment rate is anticipated to rise from 3.4% to 3.5%. The SPDR S&P 500 ETF Trust (NYSE:SPY) soared 1.2% on Thursday.

Portfolio Pulse from Piero Cingari

June 01, 2023 | 9:08 pm

SPIKE

SPY

The SPDR S&P 500 (SPY) rose over 0.8% on Thursday, breaking through heavy resistance near the $421 level, following the U.S. House of Representatives passing the debt ceiling agreement. If the SPY continues to trade higher, the current uptrend will be confirmed as intact.

Portfolio Pulse from Melanie Schaffer

June 01, 2023 | 8:54 pm

NKLA

Nikola Corp's CEO believes the company will regain Nasdaq compliance and is considering a reverse stock split if the stock does not trade above $1 to comply with Nasdaq rules.

Portfolio Pulse from Bill Haddad

June 01, 2023 | 8:46 pm

ATHX

Athersys, Inc. has begun patient enrollment in the third and final cohort of the Phase 2 MATRICS-1 clinical study evaluating MultiStem in patients following resuscitation from hemorrhagic trauma. The study is conducted at UTHealth Houston and Memorial Hermann-Texas Medical Center, with support from MTEC and the Department of Defense.

Portfolio Pulse from Happy Mohamed

June 01, 2023 | 8:43 pm

SPY

President Biden announced on Twitter that due to clean energy investments, there will be a 25% increase in solar, wind, and battery deployment over the next four years.

Portfolio Pulse from Happy Mohamed

June 01, 2023 | 8:40 pm

FPAY

FlexShopper has regained compliance with Nasdaq's minimum bid price requirement, as its common stock has maintained a closing bid price of $1.00 per share or more for 10 consecutive business days.

Portfolio Pulse from Benzinga Newsdesk

June 01, 2023 | 8:37 pm

DB

A US judge has asked lawyers for Deutsche Bank and Jeffrey Epstein victims to revise their proposed $75 million settlement by June 12.

Portfolio Pulse from Benzinga Newsdesk

June 01, 2023 | 8:35 pm