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SPY

Federal Reserve Chair Jerome Powell has identified several potential risks to the economy, including strikes, a government shutdown, the resumption of student loan payments, and higher long-term rates. The impact of a strike would depend on its breadth and duration, potentially affecting economic output, hiring, and inflation.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 7:02 pm

SPY

Federal Reserve Chairman Jerome Powell has indicated that there will be a time when it's appropriate to cut interest rates, according to Reuters. No specific timeline or conditions were mentioned.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 6:57 pm

SPY

Federal Reserve Chair Jerome Powell has stated that the neutral rate is only known when it is reached, and suggested that it may have risen. This could potentially impact the interest rates and the overall economy.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 6:48 pm

SPY

Federal Reserve Chair Jerome Powell stated that the economy is fairly close to where it needs to be, downplaying the significance of a single rate hike.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 6:46 pm

SPY

Federal Reserve Chairman Jerome Powell stated that more progress is needed before the Fed can conclude that its monetary policy is sufficiently restrictive. He noted that real interest rates are meaningfully positive.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 6:42 pm

SPY

Federal Reserve Chair Jerome Powell has stated that reducing inflation will likely require a period of below-trend growth and some softening of labor conditions.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 6:39 pm

SPY

Federal Reserve Chairman Jerome Powell has announced that the Fed will maintain restrictive interest rates until there is confidence that inflation is moving down to 2%.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 6:38 pm

NIO

Chinese luxury EV maker NIO Inc. has detailed the terms and pricing of its previously-announced $1 billion in new convertible debt. The debt will be issued in two $500 million tranches of 2029 and 2030 notes with interest rates of 3.875% and 4.625%, respectively. The notes will convert at $11.12, which is approximately 25% higher than Tuesday’s closing price. The refinancing upon conversion will add another 103,463,775 shares to the total 1.8 billion shares in issue, representing dilution for shareholders of 5.8%. The announcement of the new debt financing sent the stock price of NIO diving around 20%.

Portfolio Pulse from Daniel Harrison

September 20, 2023 | 6:15 pm

SPY

U.S. 10-Year Treasury Yields have risen to 4.357% following the Federal Reserve meeting statement. Additionally, U.S. Two-Year Treasury Yields have increased to 5.131%, marking the highest level since 2007.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 6:04 pm

SPY

Federal Reserve officials expect to hold rates higher for longer in 2024 and 2025 than previously projected in June. Most officials still anticipate one more 0.25-point rate increase in 2023.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 6:03 pm