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Cannabis stocks moved up Wednesday after the U.S. Senate Committee on Banking, Housing and Urban Affairs approved the Secure and Fair Enforcement Regulation Banking Act, now known as the SAFER Banking Act of 2023. The bill to open up the financial system to legal cannabis companies now heads to the full Senate for a vote after earlier versions of it were initially introduced on Capitol Hill a decade ago. It has been approved by the U.S. House of Representatives seven times and has yet to go to the full Senate for a vote. The AdvisorShares Pure US Cannabis ETF MSOS was up 6% in trades shortly after the vote. The ETFMG Alternative Harvest ETF MJ was up by 3.2%. Among individual cannabis names, Curaleaf Holdings Inc. CURLF was up by 5.4%, Green Thumb Industries Inc. GTBIF was up by 1%, Cresco Labs Inc. CRLBF was up by 1%, Trulieve Cannabis Corp. TCNNF was up by 1%, Tilray Brands Inc. TLRY was up by 2.1%, Canopy Growth Corp. CGC was up by 5.1% and Verano Holdings Corp. VRNOF was up by 3.8%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Shutdown odds grow as House GOP leaders reject Senate's spending bill The Washington PostMcCarthy's new shutdown strategy: Shifting the blame - The Washington Post The Washington PostMcCarthy may have to choose between job or help from Democrats to avert shutdown CBS NewsShutdown Politics Just Got Harder for Kevin McCarthy BloombergGovernment shutdown threat shows GOP extremists have no interest in governing Chicago Sun-TimesView Full Coverage on Google News
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U.S. stocks ended mostly higher on Wednesday in a choppy session that saw major equity gauges swing between gains and losses. The Dow Jones Industrial Average DJIA ended 68 points lower, or 0.2%, finishing near 33,550, according to preliminary FactSet data. The S&P 500 index SPX eked out a less than 0.1% gain, even though its energy segment rose 2.5%, while the Nasdaq Composite Index COMP gained 0.2%. Stocks have been under pressure as Treasury yields punch higher and investors gauge if the Federal Reserve will make good on its revised forecast to keep interest rates higher for longer than earlier anticipated. The 10-year Treasury yield BX:TMUBMUSD10Y rose 6.7 basis points to 4.625%, the highest since October 2007, while the 30-year Treasury yield BX:TMUBMUSD30Y climbed to 4.731%, putting long Treasury bonds closer to the 5% mark. Short-term Treasury bills have been at 5% yields for some time. Oil prices also continued to march toward $100 a barrel, with U.S. crude futures CL00 settling at $93.68 a barrel.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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New York judge finds Donald Trump liable for fraud CNNNew York judge rules Trump committed fraud while building real estate empire Fox News'Devastating': Trump suffers potentially catastrophic loss in court; Judge 'furious' MSNBCOpinion | The Fraud Ruling Against Trump The New York TimesUS real estate: Trump is not the only developer with hype expectations Financial TimesView Full Coverage on Google News
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American soldier Travis King is en route to the US after being freed by North Korea CNNNorth Korea says it will expel US soldier Eyewitness News ABC7NYUS secures the release of the soldier who crossed into North Korea 2 months ago Yahoo NewsNorth Korea says it will expel Travis King, US soldier who crossed into the country in July WAVY TV 10North Korea Says It Will Expel Travis King, U.S. Soldier Who Crossed the Border The New York TimesView Full Coverage on Google News
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Rabid otter bites man 41 times, attacks dog in Jupiter, Florida USA TODAYFlorida man describes rabid otter 'lunging' at him during attack NBC NewsRabid River Otter Bites Fla. Man 41 Times, Attacks Dog Walking With Family on the Same Day PEOPLEFlorida man gets bitten by rabies-infected otter while feeding ducks: officials Fox NewsRabid otter bites man and dog in Florida NBC NewsView Full Coverage on Google News
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Lina Khan vs. Jeff Bezos: This Is Big Tech's Real Cage Match The New York TimesFTC files antitrust lawsuit against Amazon NBC NewsAmid 17% inflation, Biden attacks Amazon for being too convenient Washington ExaminerFTC's Amazon Lawsuit Is Really a Code of Conduct Manual BloombergOpinion | Lina Khan vs. Amazon The New York TimesView Full Coverage on Google News
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