Capital Markets this Morning:

The futures are up this morning. Here is what is in focus globally for stocks:

• Fed Rate Cuts Unlikely: Jerome Powell indicates persistent inflation and strong U.S. growth delay anticipated rate cuts, with under two cuts priced in for 2024.

• Treasury Yields Fluctuate: Following Powell's remarks, two-year Treasury yields touched 5% but retreated to 4.95%.

• Stock Markets React Modestly: Despite Powell's stern warning, stock markets show mild reactions; S&P 500 slightly down, Dow rises with UnitedHealth's positive earnings.

• IMF Raises U.S. Growth Forecast: U.S. economy expected to outperform with a 2.7% growth projection in 2023, up 1.2 percentage points from previous estimates.

Cannabis Politics: Virginia's Cannabis Legalization Saga: What's Next?

The TDR Takeaway:  Looking back at Virginia's attempt at legalization and sales of recreational cannabis is more like a script for a Netflix political series than about Cannabis. This drama continues involving Governor Glenn Youngkin's veto of a bill that would have initiated regulated adult-use cannabis sales. The projected commencement of legal cannabis sales not before 2027 is a decision that has catalyzed discussions on both state and public levels. For more details, visit the TDR website.

Cannabis Capital Markets: The Cannabist Launches Triple Seven in New York and Florida

The TDR Takeaway:  The Cannabist Company is expanding  its presence by launching its Triple Seven brand in New York and Florida. This marks a significant development as Triple Seven is now available in all 15 markets where The Cannabist Company operates. Known for its high THC content and premium quality, Triple Seven has garnered numerous accolades, including awards from the prestigious High Times Cannabis Cup. For more details, visit the TDR website! 

Psychedelics: Psychedelic Therapy in California Advances with Senate Bill 1012

The TDR Takeaway: California is leading the way! Regulated psychedelic therapy in California has made headway with this week's approval of Senate Bill 1012 by the Senate Business, Professions and Economic Development Committee. Spearheaded by Senator Scott Wiener (D-San Francisco), the bill seeks to establish licensed service centers where adults aged 21 and over can access substances like psilocybin, MDMA, mescaline, and DMT under the supervision of professionally licensed facilitators. For more information, read about it on the TDR website!

Crypto: Bitcoin Mining Stocks Brace for Impact Ahead of Halving Event

The TDR Takeaway: The decline in Bitcoin mining stocks is highlighted by companies such as Marathon Digital Holdings, Riot Platforms, and CleanSpark. Over the past month, Marathon Digital Holdings has seen a nearly 25% drop in stock value, while Riot Platforms has experienced a loss of almost 30%. What is next for their stocks? For more information, read about it on the TDR website!

AI: Biden Administration Encourages Microsoft's $1.5 Billion G42 AI National Security Investment

The TDR Takeaway: AI strategy for national security??? Microsoft this week and their $1.5 billion investment in G42, an AI company based in the United Arab Emirates, is significant development in AI national security. Likely, two years ago most of us were not thinking about AI, and did not understand how it could not be used in national security agreements. For more information, read about it on the TDR website!

Live today at 4pm EST from the Benzinga Cannabist Capital Conference

Join us live from sunny Fort Lauderdale, Florida, for a special edition of the TDR Trade To Black podcast at the Benzinga Cannabis Capital Conference! This is where deals get done, and we're right in the thick of it, meeting with the biggest players in the cannabis industry. Our episodes will dive into who we're connecting with, the hot topics that are capturing everyone's attention, and the overall vibe and sentiment of the conference. Don't miss out on our live coverage from the heart of the action, where we bring you the latest and most significant developments from the cannabis sector. Stay tuned! Watch live on YouTube at 4pm EST!

How to Make a Difference in Cannabis Policy with Rep. Cardenas

In yesterdays episode of TDR's Trade To Black podcast, we're premiering a special fireside chat with Representative Cárdenas from Washington, DC. Tune in for a clear, insightful discussion about what's really holding back the cannabis narrative, how we can influence decisions on cannabis, and the unmatched value of first-hand experience. Don't miss this deep dive with California's Rep. Cárdenas—an essential conversation for anyone interested in cannabis policy. For more information, view the video on YouTube!

Monday’s Interviews on Capitol Hill were Fantastic!

The TDR Takeaway: Join us on TDR's Trade To Black podcast today as we take you on our journey throughout Washington, DC. This video features more than 7 Senators and Representatives who will discuss the current state of affairs with Cannabis reform in Washington, DC. We asked about their thoughts on the SAFE Banking Act and whether they anticipate the DEA recommending cannabis rescheduling to Schedule III. Don’t miss this vital update—get the facts directly from Capitol Hill. For more information, view the video on YouTube!