Streetbeat News

Regulatory

OCGN

Ocugen has received notification from the FDA to begin its Expanded Access Program for treating adult patients with OCU400.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 10:31 am

AMZN

GOOG

GOOGL

WMT

GooglePay, AmazonPay, and Walmart-backed PhonePe, along with Indian fintech firms Cred and Mobikwik, are set to join the Reserve Bank of India's digital currency pilot project. These firms, which account for over 85% of digital payments via UPI, are expected to roll out e-rupee access within the next three to four months. The inclusion of these firms is anticipated to boost e-rupee transaction volumes.

Portfolio Pulse from Nivedita Hazra

August 05, 2024 | 10:07 am

FFIE

Faraday Future has entered into a waiver agreement with certain investors and agreed to make voluntary adjustments to SPA notes. This development is likely to impact the company's financial stability and investor confidence in the short term.

Portfolio Pulse from charles@benzinga.com

August 05, 2024 | 10:05 am

BAC

IYG

JPM

WFC

XLF

JPMorgan Chase & Co. (NYSE:JPM) is considering legal action against the Consumer Financial Protection Bureau (CFPB) over investigations into the Zelle payment app. The bank is addressing inquiries from the CFPB about fund transfers via the Zelle Network. The rise in fraud and scams on Zelle has attracted scrutiny from U.S. lawmakers and regulators. JPMorgan shares are down 2.44% premarket. Investors can gain exposure to JPM stock via IShares U.S. Financial Services ETF (NYSE:IYG) and SPDR Select Sector Fund – Financial (NYSE:XLF).

Portfolio Pulse from Lekha Gupta

August 05, 2024 | 9:59 am

BITB

ETH

ETHA

ETHE

ETHW

FBTC

GBTC

IBIT

Bitcoin and Ethereum-linked ETFs experienced significant drops in premarket trading due to global market downtrends, geopolitical tensions, delayed U.S. Federal Reserve rate cuts, and negative ETF flows. Grayscale Bitcoin Trust (GBTC) fell by 15.62%, Fidelity Wise Origin Bitcoin Fund (FBTC) by 15.73%, Bitwise Bitcoin ETF (BITB) by 15.47%, and iShares Bitcoin Trust (IBIT) by 15.42%. Grayscale Ethereum Trust (ETHE) dropped by 23.01%, Grayscale Ethereum Mini Trust (ETH) by 22.26%, iShares Ethereum Trust (ETHA) by 22.50%, and Bitwise Ethereum ETF (ETHW) by 22.91%.

Portfolio Pulse from Pooja Rajkumari

August 05, 2024 | 9:39 am

TSLA

Donald Trump, now endorsed by Tesla CEO Elon Musk, has expressed support for electric vehicles (EVs) despite previous criticisms. Trump highlighted the high costs and reliance on China for EV manufacturing but acknowledged their potential. Musk's endorsement and comments on EV subsidies suggest a nuanced impact on Tesla and its competitors.

Portfolio Pulse from Anan Ashraf

August 05, 2024 | 8:27 am

BTC-USD

DOGE-USD

ETH-USD

Former President Donald Trump blamed the current U.S. leadership for the global stock market sell-off, particularly targeting Vice President Kamala Harris and President Joe Biden. The Japanese market confirmed a bear market, with the Nikkei 225 and Topix indices falling over 20% from their all-time highs. The cryptocurrency market also experienced significant declines, with Bitcoin, Ethereum, and Dogecoin dropping sharply.

Portfolio Pulse from Benzinga Neuro

August 05, 2024 | 8:15 am

BIDU

BYDDF

HSAI

NIO

XPEV

The U.S. Commerce Department is preparing a proposal to ban Chinese software in autonomous and connected vehicles, citing national security concerns. This move could impact Chinese companies like WeRide Inc. (NASDAQ:HSAI), Baidu (NASDAQ:BIDU), BYD (OTC:BYDDF), NIO (NYSE:NIO), and XPeng Inc. (NYSE:XPEV), which are involved in autonomous driving technology.

Portfolio Pulse from Benzinga Neuro

August 05, 2024 | 7:34 am

ZVRA

Zevra Therapeutics has gained support from an FDA panel for its drug Arimoclomol, aimed at treating Niemann-Pick Disease Type C. The panel's recommendation will be considered by the FDA, with a final decision expected by September 21, 2024.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 6:28 am

NVDA

QQQ

SPY

Global markets experienced significant declines, with the Nasdaq 100 and R2K futures down over 3% and the S&P 500 down about 1.75%. The sell-off was triggered by worsening manufacturing sector contraction, rising jobless claims, and negative tech earnings, including concerns about Nvidia (NVDA) under DOJ scrutiny. Analysts suggest the tech sector's previous strong performance may have led to the current correction.

Portfolio Pulse from Shanthi Rexaline

August 05, 2024 | 6:17 am