Streetbeat News

Regulatory

DDC

DDC Enterprise announced it is offering Class A Ordinary Shares in a high-risk investment opportunity exempt from U.S. Securities Law registration. The shares come with transfer restrictions and will be issued once NYSE American compliance is fulfilled. No size or price per share was disclosed.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 7:43 pm

NVO

U.S. Senate Health Committee Chairman Sanders has announced that the CEO of Novo Nordisk will testify before the committee on September 24.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 7:15 pm

SPY

Federal Reserve's Daly mentioned that contacts have indicated AI is reducing costs and could act as a deflationary force.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 7:02 pm

KBE

KRE

SPY

XLF

The Federal Reserve has proposed a weaker version of the bank capital overhaul, which could impact the financial sector. This proposal may affect various financial ETFs and stocks, including KBE, KRE, SPY, and XLF.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 7:01 pm

SPY

Fed's Daly states that current concerns mirror those from 2019, emphasizing a resolute approach without unnecessary preemptive actions. She sees no evidence of stagflation or recession and aims to reduce inflation gently. The U.S. stock market rallies reflect future optimism.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 6:45 pm

SPY

Fed's Daly indicates that the risks to inflation and employment are currently balanced. She emphasizes the need for caution in not loosening monetary policy too early or holding it too long. Daly notes that the labor market is strong and there is cautious optimism in the business community, with low initial claims for unemployment insurance.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 6:45 pm

LLY

NVO

Eli Lilly (NYSE:LLY) may benefit from supply issues at competitor Novo Nordisk (NYSE:NVO) due to recent fires at Novo Nordisk's facilities. Reddit users speculate on a potential stock split for Eli Lilly and highlight upcoming FDA approval for an Alzheimer's drug and a new $10 billion plant construction.

Portfolio Pulse from Surbhi Jain

June 24, 2024 | 6:08 pm

T

AT&T CEO John Stankey has called on Congress to empower regulators to require big tech firms to contribute to a government fund that subsidizes access to telecom services.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 6:03 pm

SPY

Fed's Daly suggests that if inflation gradually declines and the labor market rebalances slowly, the Fed can normalize policy over time. The goal is to restore price stability without causing economic disruption. Recent inflation data is more encouraging, but it's uncertain if sustainable price stability is achievable. Restrained demand, rather than improved supply, is likely needed to reach the 2% inflation goal.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 6:02 pm

SPY

Fed's Daly indicates significant progress on inflation but emphasizes that more work is needed. She highlights the conditional nature of policy, suggesting that if inflation falls slowly, rates will stay high longer, but if inflation drops quickly or the labor market weakens, rates may be lowered.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 6:01 pm