Streetbeat News

Assets

SPY

U.S. Treasury yields are falling as Federal Reserve Chair Jerome Powell speaks, with the 2-year yield dropping to 4.445%, the lowest since June 6.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 7:48 pm

GLD

QQQ

SPY

TLT

UUP

The Federal Reserve has maintained the federal funds rate at 5.25%-5.5%, signaling a potential end to the rate-hiking cycle. Inflation is reported to have eased, but remains above the 2% target. The Fed's new economic projections indicate a more optimistic GDP outlook for 2023 and lower inflation forecasts. The 'dot plot' suggests a median federal funds rate of 4.6% by the end of 2024. Markets reacted with the U.S. dollar and Treasury yields falling, while equities, gold, and ETFs related to these assets rallied.

Portfolio Pulse from Piero Cingari

December 13, 2023 | 7:14 pm

GLD

Gold prices have risen as the US dollar weakened after the Federal Reserve decided to maintain interest rates at their current level.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 7:14 pm

SPY

U.S. rate futures are pricing in over 100 basis points of rate cuts in 2024 after the Federal Reserve's latest decision. This outlook remains largely unchanged from the expectations set prior to the Fed's statement, according to LSEG's Fedwatch.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 7:08 pm

SPY

U.S. interest rate futures indicate a 90% chance of a rate cut in May following the Federal Reserve's latest decision, up from 80% just before the announcement, according to London Stock Exchange Group's Fedwatch tool.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 7:07 pm

SPY

Federal Reserve officials anticipate additional rate cuts in 2025 and 2026, following a projected 0.75 percentage point reduction in 2024. This suggests a shift towards a more accommodative monetary policy in the medium term after a period of rate hikes to combat inflation.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 7:02 pm

HBAR-USD

Hedera's cryptocurrency (HBAR) has seen a 5.78% increase in price over the past 24 hours, reaching $0.08, and an 11.0% gain over the past week. The coin's all-time high is $0.57. Trading volume has risen by 13.0%, and the circulating supply has grown by 0.66% to 33.58 billion, which is 67.15% of the max supply. Hedera is currently ranked #31 by market cap at $2.61 billion.

Portfolio Pulse from Benzinga Insights

December 13, 2023 | 7:00 pm

SPY

The USA Federal Open Market Committee (FOMC) has decided to maintain the Fed interest rate at 5.50%, unchanged from the prior rate.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 7:00 pm

ICPUSD

Internet Computer's cryptocurrency (ICP) has seen a significant increase of 10.53% in the past 24 hours, reaching a price of $6.14. Over the last week, ICP has gained 22.0%, rising from $4.88. Despite the recent surge, it is still far from its all-time high of $700.65. The trading volume has increased by 82.0%, and the circulating supply has decreased by 0.55%. The current market cap places ICP at rank #28, valued at $2.77 billion.

Portfolio Pulse from Benzinga Insights

December 13, 2023 | 7:00 pm

BP

EWZ

USO

BP Energy has successfully won an oil auction for the concession of the Tupinamba area in Brazil's Santos Basin, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 6:45 pm