Streetbeat News

Regulatory

SPY

House Speaker McCarthy stated that they have offered many concessions but will not agree to raising taxes.

Portfolio Pulse from Happy Mohamed

May 24, 2023 | 3:51 pm

SPY

House Speaker McCarthy stated that there are differences over spending, but he believes progress can be made today.

Portfolio Pulse from Happy Mohamed

May 24, 2023 | 3:47 pm

SPY

House Minority Leader Kevin McCarthy tweeted that President Biden has 8 days left to avoid becoming the first president to default on the debt, indicating ongoing negotiations and differences between parties.

Portfolio Pulse from Happy Mohamed

May 24, 2023 | 3:44 pm

SPY

The CBOE Volatility Index (VIX) surged 9% higher as concerns over the US debt default and the release of the Federal Reserve's meeting minutes grow. The S&P 500 fell 0.7% as the market prices in a hawkish tone from the Fed and a heightened risk of debt ceiling discussions failing. Traders can use MIAX's SPIKES Volatility products to trade the volatility in the stock market.

Portfolio Pulse from Melanie Schaffer

May 24, 2023 | 3:40 pm

SPY

House Speaker McCarthy is set to give an update on debt limit negotiations at 11:45 a.m. ET. This could potentially impact the market and related ETFs such as SPY.

Portfolio Pulse from Happy Mohamed

May 24, 2023 | 3:37 pm

SPY

White House and Congressional negotiators are set to meet at 12 p.m. ET for debt ceiling talks, according to an AP reporter on Twitter.

Portfolio Pulse from Happy Mohamed

May 24, 2023 | 3:29 pm

FRPT

Activist investor Jana Partners is preparing for a proxy fight at Freshpet (FRPT), planning to nominate four directors to the pet-food company's board, according to the Wall Street Journal.

Portfolio Pulse from Happy Mohamed

May 24, 2023 | 3:29 pm

KBE

KRE

XLF

Fitch Ratings warns that US regional and small banks' commercial real estate exposure could pressure their credit ratings. ETFs KBE, KRE, and XLF may be affected.

Portfolio Pulse from Happy Mohamed

May 24, 2023 | 3:22 pm

PALI

Palisade Bio has been granted European Patent Number EP3209306, titled 'Stable Neural Stem Cells Comprising An Exogenous Polynucleotide Coding For A Growth Factor And Methods Of Use Thereof'.

Portfolio Pulse from Happy Mohamed

May 24, 2023 | 3:19 pm

TRYPF

Tryp Therapeutics has submitted an Investigational New Drug application to the FDA for a phase 2a clinical trial of psilocybin-assisted psychotherapy in treating patients with irritable bowel syndrome (IBS) at Massachusetts General Hospital. The study will be conducted in collaboration with Harvard Medical School/Massachusetts General Hospital.

Portfolio Pulse from Vuk Zdinjak

May 24, 2023 | 3:01 pm