Streetbeat News

Regulatory

COIN

JPM

Balaji Srinivasan, former CTO of Coinbase, claims the true US debt is $175 trillion, far exceeding the official $35 trillion figure. This includes entitlements like Social Security and Medicare. The Federal Reserve has made more emergency loans in 2023 than during the COVID-19 pandemic and 2008 financial crisis. Interest payments are now the second-largest government expense. Major economies are moving away from the US dollar, with China, Russia, and India increasing gold reserves. Government officials like Fed Chair Jerome Powell and Treasury Secretary Janet Yellen believe current debt levels are manageable, but others, including JPMorgan CEO Jamie Dimon, warn of potential risks.

Portfolio Pulse from Natan Ponieman

August 14, 2024 | 1:48 pm

DKNG

DraftKings shares are trading higher after the company announced it will not proceed with the gaming tax surcharge.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 1:36 pm

ANAB

ARM

ASML

CAH

FXY

IWM

K

MU

QQQ

SMH

SPY

VSCO

The July Consumer Price Index report showed a slight decline in inflation, fueling hopes for a Federal Reserve rate cut. This led to a positive reaction in the stock market, particularly in tech and small-cap stocks. Key ETFs and stocks saw notable premarket movements.

Portfolio Pulse from Piero Cingari

August 14, 2024 | 1:36 pm

VIRX

Viracta Therapeutics Inc. (NASDAQ:VIRX) saw its stock rise after reporting positive Phase 2 NAVAL-1 trial results for its treatment of relapsed or refractory Epstein-Barr virus-positive peripheral T-cell lymphoma. The company plans to focus on this program, pausing other projects and reducing its workforce by 23%.

Portfolio Pulse from Vandana Singh

August 14, 2024 | 1:19 pm

KWE

KWESST Micro Systems has requested the SEC's consent to withdraw its registration statement on Form F-1, including all exhibits and amendments.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 1:03 pm

AAPL

AMZN

GOOG

GOOGL

META

Wedbush's Dan Ives believes a breakup of major tech companies is 'highly unlikely' despite the DOJ's recent antitrust victory over Google's monopolistic practices. Instead, he expects business model tweaks and increased scrutiny of mergers and acquisitions. The DOJ's consideration of a breakup bid for Google marks a significant regulatory move, but legal battles could drag on for years.

Portfolio Pulse from Pooja Rajkumari

August 14, 2024 | 12:52 pm

QQQ

SPY

The Consumer Price Index (CPI) for July showed a lower-than-expected annual increase of 2.9%, supporting hopes for significant interest rate cuts by the Federal Reserve. This marks the fourth consecutive decline in the annual inflation rate. Market reactions were muted, with S&P 500 futures up 0.1% and Nasdaq 100 futures flat. Treasury yields slightly increased. The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust (QQQ) had strong performances earlier in the week.

Portfolio Pulse from Piero Cingari

August 14, 2024 | 12:42 pm

OGEN

Oragenics announced that its ONP-002 treatment for concussions is stable across a range of temperatures, eliminating the need for cold storage. Currently, there is no FDA-approved pharmaceutical treatment for concussions.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 12:34 pm

SPY

The USA Consumer Price Index (CPI) for July increased by 0.2% month-over-month, matching the estimated 0.2% and improving from the prior -0.1%.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 12:30 pm

SPY

The US Core Consumer Price Index (CPI) for July increased by 0.2%, matching the estimated growth of 0.2%.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 12:30 pm