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Regulatory

SPY

Consumer confidence in the U.S. is improving, with the Conference Board's Consumer Confidence Index rising to 102 in May from 97.5 in April. Despite this, inflation remains a concern, which could impact the upcoming presidential election. The SPDR S&P 500 ETF Trust (SPY) is near all-time highs, reflecting a strong stock market.

Portfolio Pulse from Aaron Bry

May 28, 2024 | 7:45 pm

MRNA

Moderna Inc. (NASDAQ:MRNA) shares are trading lower after a recent surge due to bird flu concerns and predictions of a slight rise in COVID-19 cases. Despite CDC assurances, concerns about bird flu have increased, prompting Moderna and other vaccine manufacturers to test human vaccines against it. Experts also anticipate a small rise in COVID-19 cases due to the new KP.2 variant.

Portfolio Pulse from Vaishali Prayag

May 28, 2024 | 7:36 pm

PFE

SRPT

RBC Capital Markets has downgraded Sarepta Therapeutics (NASDAQ:SRPT) due to balanced risk and reward ahead of the FDA's decision on Elevidys. Despite a 50% rise in shares over the last six months, tempered messaging from the FDA and the company has led to a reduced price target and rating cut. Pfizer's (NYSE:PFE) recent safety issues also contribute to cautious sentiment.

Portfolio Pulse from Vandana Singh

May 28, 2024 | 6:40 pm

MSFT

OpenAI, backed by Microsoft, has formed a new board committee to evaluate the safety and security of its AI models. This move follows the resignation of key executives and the disbanding of an internal team. The committee will assess safeguards over 90 days and share updates publicly.

Portfolio Pulse from Shivani Kumaresan

May 28, 2024 | 6:27 pm

KBE

KRE

SPY

XLF

The Federal Reserve released the minutes for its discount rate meetings held between April 8 and May 1. All Reserve Banks voted to hold the discount rate steady in April.

Portfolio Pulse from Benzinga Newsdesk

May 28, 2024 | 6:02 pm

FCEL

FuelCell Energy, Inc. (NASDAQ:FCEL) shares have surged over 25% in the past five days, driven by increased tariffs on Chinese goods announced by President Joe Biden. The company is set to report its Q2 financial results on June 10, with analysts expecting a loss of 8 cents per share and revenue of $21.351 million. The stock is trending on Yahoo Finance and trading on heavy volume.

Portfolio Pulse from Erica Kollmann

May 28, 2024 | 6:02 pm

SPY

Federal Reserve's Daly discusses the impact of new technologies on labor, highlighting that they often reallocate labor and create a 'painful gap' for some workers. She also mentions the uncertainty surrounding the impact of generative AI on labor and the economy.

Portfolio Pulse from Benzinga Newsdesk

May 28, 2024 | 5:07 pm

SE

Sea Limited (NYSE:SE) shares are trading lower after its subsidiary, Shopee, was accused of anti-competition breaches in Indonesia. The Indonesian antitrust agency, KPPU, claims Shopee directed customers to specific delivery services, reducing options. Shopee is expected to present its defense next month.

Portfolio Pulse from Dylan Berman

May 28, 2024 | 4:48 pm

BTCUSD

ETHUSD

GBTC

A survey funded by Grayscale reveals that one-third of U.S. voters will consider a political candidate's stance on cryptocurrencies in the 2024 elections. The survey highlights the growing importance of crypto in political campaigns and investment portfolios, with significant awareness and investment in Bitcoin and Ethereum. The introduction of Ether ETFs and the desire for more regulation are also noted.

Portfolio Pulse from Murtuza Merchant

May 28, 2024 | 4:44 pm

PDD

PDD shares are trading lower due to concerns over election risks and US-China uncertainty.

Portfolio Pulse from Benzinga Newsdesk

May 28, 2024 | 4:15 pm