Streetbeat News

Regulatory

SPY

In a Bloomberg TV interview, Fed's Goolsbee stated that if unemployment exceeds 4.1%, the Federal Reserve must respond. He also noted that inflation is improving, but data trends are not changed by one month's numbers.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 4:06 pm

SPY

Federal Reserve's Goolsbee emphasized that the central bank is currently tight and restrictive, and cautioned against overreacting to one month's data. He highlighted the importance of moving steadily and considering the employment mandate if restrictive conditions persist for too long.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 4:04 pm

BIAF

GPAK

TNDM

VINE

VSEE

XCUR

U.S. stocks fell significantly with the Nasdaq Composite dropping 3% amid disappointing economic data. Nonfarm payrolls increased by 114,000 in July, below expectations, and the unemployment rate rose to 4.3%. Several stocks experienced notable price movements, including VSee Health, Exicure, Tandem Diabetes Care, bioAffinity Technologies, Gamer Pakistan, and Fresh Vine Wine.

Portfolio Pulse from Avi Kapoor

August 02, 2024 | 4:02 pm

CBST

CURLF

MSOS

VRNOF

Boris Jordan discusses the rescheduling of cannabis, with 90% of comments reviewed and no ALJ hearing so far. Verano Holdings will acquire operations from The Cannabist Co. for $15M in cash and $105M in licenses in Arizona and Virginia. Virginia is seen as a promising market for cannabis.

Portfolio Pulse from The Dales Report

August 02, 2024 | 3:03 pm

AMAT

INTC

Applied Materials (AMAT) shares are down 6.5% due to Intel's poor Q2 results and the company's failure to secure CHIPS Act funding for its $4 billion R&D center. Intel's financial struggles and potential cost reductions could negatively impact AMAT, a key supplier in the semiconductor industry.

Portfolio Pulse from Henry Khederian

August 02, 2024 | 2:54 pm

EWC

SPY

Canada and the United States have concluded negotiations on a Technology Safeguards Agreement, as reported by Reuters. This agreement aims to enhance cooperation and security in the technology sector between the two countries.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 1:45 pm

META

TUR

Turkey has announced that it will unblock Instagram once the company meets its obligations. This decision could impact Meta Platforms Inc. (META), the parent company of Instagram.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 1:44 pm

SPY

Senator Warren criticized Fed Chair Powell for not cutting interest rates, warning that delaying could harm the economy. She emphasized that job data indicates urgent action is needed.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 1:44 pm

FXY

GLD

IWM

KRE

SMH

TLT

USO

UUP

XLK

XLU

Global markets experienced a major downturn due to a weaker-than-expected U.S. jobs report and heightened geopolitical risks. The U.S. economy added fewer jobs than anticipated in July, and the unemployment rate rose, leading to increased market expectations for a significant rate cut by the Federal Reserve in September. Investors are moving to safer assets, causing declines in major equity indices and gains in Treasuries, gold, and the Japanese yen.

Portfolio Pulse from Piero Cingari

August 02, 2024 | 1:30 pm

KO

Coca-Cola plans to appeal a $6 billion tax liability decision by the U.S. Tax Court. The company will pay the agreed-upon liability and interest while defending its position in the Eleventh Circuit Court of Appeals.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 1:26 pm