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ETHUSD

A DeFi trader, Ignas, highlights reasons to be optimistic about Ethereum, citing low inflation, strong developer community, and regulatory certainty. Ethereum's dominance in smart contracts and stablecoin issuance, along with upcoming upgrades, are seen as positive factors.

Portfolio Pulse from Khyathi Dalal

August 23, 2024 | 7:16 pm

SPY

In a Bloomberg TV interview, Fed's Goolsbee emphasized the importance of the path of rate cuts rather than their size. He noted that neutral rates are far from current levels and doesn't foresee near-zero rates given the current economic outlook. He also mentioned that all options are always on the table for the Fed.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2024 | 6:23 pm

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GSK

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TEVA

The U.S. government plans to negotiate Medicare drug prices, potentially targeting Novo Nordisk's Ozempic and other drugs by 2027. This move, part of the Inflation Reduction Act, aims to save $6 billion in the first year and could impact companies like Pfizer, GSK, Teva, and Abbvie. Despite industry concerns, the financial impact may be less severe than expected.

Portfolio Pulse from Vandana Singh

August 23, 2024 | 6:21 pm

BGNE

BMY

MRK

The FDA's Oncologic Drugs Advisory Committee will meet to discuss potential restrictions on PD-1 drugs for stomach cancer, focusing on PD-L1 expression as a biomarker. This review affects Merck's Keytruda, Bristol Myers' Opdivo and Yervoy, and BeiGene's Tevimbra.

Portfolio Pulse from Vandana Singh

August 23, 2024 | 6:10 pm

ALLY

HOOD

Financial sector stocks are experiencing gains due to positive market sentiment following Fed Chair Powell's comments on the economy and potential future rate cuts.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2024 | 5:53 pm

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TFC

Banking stocks are experiencing a rise in share prices due to positive market sentiment following comments from Fed Chair Powell regarding the economy and potential future rate cuts.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2024 | 5:51 pm

SPY

Federal Reserve's Goolsbee stated that Chairman Powell's comments on interest rates were clear and definitive. The funds rate was set during a period of higher inflation, and as inflation cools, the Fed's policy has been passively tightening.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2024 | 5:48 pm

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SPY

Market strategist Jay Woods discusses the potential impact of a Federal Reserve rate cut, the outlook for small-cap stocks, and election year trends. He predicts a rate cut in September, which may already be priced into stocks, and highlights the potential for a small-cap rally. The iShares Russell 2000 ETF (IWM) and SPDR S&P 500 ETF Trust (SPY) are mentioned as key indicators.

Portfolio Pulse from Chris Katje

August 23, 2024 | 5:23 pm

APDN

Applied DNA Sciences, Inc. (NASDAQ:APDN) stock surged on Friday due to high trading volume and the submission of a validation package to expand its Linea Mpox Virus 1.0 Assay. The expansion aims to include mpox clade I and clade II, pending approval from the New York State Department of Health. The stock's rise is also influenced by the WHO's declaration of a public health emergency over mpox.

Portfolio Pulse from Vandana Singh

August 23, 2024 | 5:19 pm

CMND

Clearmind Medicine Inc. (NASDAQ:CMND) has been granted a new U.S. patent for a compound aimed at regulating binge drinking. This patent is a significant milestone in their MEAI-based program, which targets Alcohol Use Disorder. Clearmind's patent portfolio now includes 29 patents across major markets.

Portfolio Pulse from Juan Spínelli

August 23, 2024 | 5:17 pm