Streetbeat News

Credit

SPY

Fed Chair Powell stated that most policymakers believe it is reasonable to adjust the pace of monetary policy tightening slower, as the full extent of banking turmoil consequences is unknown.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 6:48 pm

SPY

The Federal Reserve has decided to maintain the target range for the federal funds rate at 5 to 5-1/4 percent, citing modest economic expansion, robust job gains, and elevated inflation. The Committee remains highly attentive to inflation risks and is committed to returning inflation to its 2 percent objective.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 6:00 pm

VYGVQ

Bankrupt crypto broker Voyager Digital (OTC:VYGVQ) will initiate the return of funds to creditors next week, according to liquidation procedures filed with the U.S. Bankruptcy Court. The Voyager app will be updated on June 15, allowing creditors to access and view initial distribution amounts. The app will reopen between June 20, 2023, and July 5, 2023, for a 30-day period to facilitate cryptocurrency withdrawals.

Portfolio Pulse from Murtuza Merchant

June 14, 2023 | 4:57 pm

RBT

Rubicon Technologies has completed the highest priority components of its 'Bridge to Profitability' plan, including securing a new term loan, recapitalizing debt, attracting additional equity investment, and reducing material costs across the organization. The company remains confident in achieving positive adjusted EBITDA for Q4 2023.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 12:55 pm

SGBX

Safe & Green Holdings Corp. (NASDAQ:SGBX) has secured a commitment for a bridge loan of up to $2 million from a European entity for its subsidiary, Safe and Green Development Corporation (SG DevCo). The company has already secured $1 million, and the loan will bear a 14% interest rate per annum.

Portfolio Pulse from Happy Mohamed

June 14, 2023 | 12:33 pm

QQQ

SPY

Citadel founder Ken Griffin is increasing his focus on credit trading, particularly in the high-yield credit market, as he anticipates a potential recession in 2024. He expects the Federal Reserve to hike interest rates once more this year and then pause. Griffin is also optimistic about China's economic growth, expecting it to surpass government targets.

Portfolio Pulse from Bhavik Nair

June 14, 2023 | 7:50 am

WFC

Wells Fargo shares are trading higher by 1.65% following a softer-than-expected CPI report, indicating slowing inflation in May. The bank's CFO, Mike Santomassimo, also stated that they anticipate an increase in net interest income in the future.

Portfolio Pulse from Henry Khederian

June 13, 2023 | 6:55 pm

LCID

Lucid Group Inc (NASDAQ:LCID) shares are trading higher by 4.15% to $6.53 as stocks rise following a softer-than-expected CPI report, which showed slowing inflation in May. Lower interest rates can stimulate borrowing and make auto loans more affordable, potentially driving up car sales.

Portfolio Pulse from Henry Khederian

June 13, 2023 | 6:36 pm

GM

General Motors (GM) shares are trading higher by 1.81% to $37.34 following a softer-than-expected CPI report, which showed slowing inflation in May. Lower interest rates can stimulate borrowing and make auto loans more affordable, potentially driving up car sales.

Portfolio Pulse from Henry Khederian

June 13, 2023 | 3:53 pm