Streetbeat News

Regulatory

PYPL

The Consumer Financial Protection Bureau (CFPB) has found that funds stored on popular digital payment apps like PayPal, Venmo, and Cash App may lack federal deposit insurance coverage, putting users' funds at risk in case of financial distress. The CFPB has issued a consumer advisory for customers holding funds in these apps.

Portfolio Pulse from Happy Mohamed

June 01, 2023 | 4:40 pm

STLA

Stellantis has not yet reached a deal to save a $5-billion electric vehicle battery plant in Windsor, Ontario. The company is in heavy negotiations with the Canadian federal government, Ontario, and LG Energy Solution over federal subsidies, and has threatened to move the plant if it doesn't receive the promised support.

Portfolio Pulse from Happy Mohamed

June 01, 2023 | 4:26 pm

TCNNF

Florida activists have collected enough signatures to put marijuana legalization on the 2024 ballot. State officials verified 967,528 petition signatures, surpassing the required 891,523. Florida-based medical cannabis company Trulieve Cannabis Corp. (OTCQX:TCNNF) has invested at least $30 million into the campaign.

Portfolio Pulse from Jelena Martinovic

June 01, 2023 | 4:25 pm

IONQ

IonQ has received a Notice of Allowance for its U.S. patent application 16/281,241 titled 'Quantum Circuit Optimization'.

Portfolio Pulse from Happy Mohamed

June 01, 2023 | 4:22 pm

SPY

Senator John Thune suggests that the debt limit votes are more likely to occur on Friday, according to a tweet by Bloomberg reporter Erik Wasson.

Portfolio Pulse from Happy Mohamed

June 01, 2023 | 4:10 pm

DIA

IWM

QQQ

SPY

Major indices rise after the House passes a debt ceiling bill and initial jobless claims come in below estimates.

Portfolio Pulse from Benzinga Newsdesk

June 01, 2023 | 4:05 pm

SPY

Senate Minority Leader Mitch McConnell praised the House-passed deal as a promising step toward fiscal sanity but emphasized that more work needs to be done to curb wasteful government spending.

Portfolio Pulse from Happy Mohamed

June 01, 2023 | 3:54 pm

SPIKE

UVXY

The CBOE Volatility Index (VIX) dropped over 7% after the U.S. House of Representatives passed the debt ceiling agreement. The ProShares Ultra VIX Short Term Futures ETF (UVXY) tracks the VIX, while the SPIKES Volatility Index (SPIKE) tracks expected volatility in the SPDR S&P 500 over the next 30 days.

Portfolio Pulse from Melanie Schaffer

June 01, 2023 | 3:39 pm

BTCUSD

ETHUSD

The European Parliament suggests classifying crypto assets as securities by default as the EU wraps up its Markets in Crypto Assets (MiCA) regulation. The report also pushes for legal status for decentralized finance governing bodies and raises concerns about potential short-term enforcement issues.

Portfolio Pulse from Murtuza Merchant

June 01, 2023 | 3:25 pm

OMER

Omeros Corporation (NASDAQ:OMER) announced that interim data from its ongoing Phase 1b clinical trial of OMS906, a MASP-3 inhibitor for treating paroxysmal nocturnal hemoglobinuria (PNH), will be presented at the 2023 European Hematology Association Congress. The presentation will detail the drug's ability to normalize hemoglobin levels in treatment-naïve PNH patients.

Portfolio Pulse from Happy Mohamed

June 01, 2023 | 3:06 pm