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SPY

Fed Chair Powell indicated the Fed is seeking a point of confidence regarding inflation to start reducing restrictive measures. The Fed requires sustainable evidence of declining inflation before easing policies.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 7:43 pm

SPY

Fed Chair Jerome Powell emphasized the need for more evidence to confirm the current economic trends, indicating that the Federal Reserve seeks assurance of a sustainable path towards achieving the 2% inflation target. This statement suggests a cautious approach to monetary policy adjustments.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 7:41 pm

SPY

Fed Chair Jerome Powell emphasized the importance of balancing the reduction of policy restraint to avoid reversing progress on inflation while also being cautious not to weaken the economy by acting too late. The Fed will make decisions based on incoming data and the balance of risks.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 7:37 pm

SPY

Fed Chair Powell indicates that the policy rate is now well into restrictive territory, suggesting a more balanced approach to achieving economic goals. Housing sector activity remains subdued, while the labor market is tight with strong job gains continuing.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 7:33 pm

IWM

SPY

The Federal Reserve kept interest rates unchanged at 5.25-5.5% during its first 2024 meeting, signaling an end to the rate hiking cycle. The Fed's statement omitted references to future hikes and dampened expectations for near-term rate cuts, stating a reduction would only be considered once there is greater confidence in inflation moving sustainably toward 2%. Market reactions included a slight rise in the dollar, a marginal decline in stocks, and a decrease in the probability of a March rate cut from 54% to 46%. The SPDR S&P 500 ETF Trust (SPY) and iShares Russell 2000 ETF (IWM) saw slight declines, while Bitcoin also fell.

Portfolio Pulse from Piero Cingari

January 31, 2024 | 7:19 pm

TIAUSD

Cryptocurrency Celestia (TIA) experienced a 7.68% price drop over the past 24 hours, contrasting with a 6.0% gain over the past week. The trading volume decreased by 32.0%, while the circulating supply increased by 1.69%, bringing it to 161.21 million. Celestia's market cap is ranked #34 at $2.73 billion.

Portfolio Pulse from Benzinga Insights

January 31, 2024 | 7:02 pm

ATOM-USD

Cosmos Hub's cryptocurrency, ATOM, has experienced a 3.54% price decrease over the past 24 hours, falling to $9.25. This continues a downward trend from the past week where it remained at $9.25. Despite the price drop, trading volume has increased by 74.0%, and the circulating supply has risen by 0.5%, now at 383.77 million. ATOM's market cap is currently ranked #26, valued at $3.55 billion.

Portfolio Pulse from Benzinga Insights

January 31, 2024 | 7:02 pm

OPUSD

Cryptocurrency Optimism (OP) has seen a price decrease of 7.68% in the past 24 hours, now at $3.02, despite an 8.0% increase over the past week. The volatility has been highlighted by Bollinger Bands in the provided chart. Trading volume for OP has risen by 15.0%, while the circulating supply has slightly decreased by 0.22%. Optimism's current market cap is $2.90 billion, ranking it 33rd in the market.

Portfolio Pulse from Benzinga Insights

January 31, 2024 | 7:01 pm

INJUSD

Injective (CRYPTO: INJ), a cryptocurrency, has seen a price decrease of 6.85% over the past 24 hours, now at $34.58, despite a 6.0% increase over the past week. The trading volume has risen by 37.0%, and the circulating supply has slightly increased, leading to a current market cap ranking of #29 at $3.06 billion.

Portfolio Pulse from Benzinga Insights

January 31, 2024 | 7:00 pm

DIA

IWM

QQQ

SPY

The Federal Reserve has decided to leave the key overnight policy rate unchanged. This decision is likely to influence the broader market and specific ETFs that track major indices.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 7:00 pm