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Regulatory

SPY

Fed Chair Powell stated that the Federal Reserve is practicing a conservative approach to its inflation outlook and does not have high confidence in its forecasts. He welcomed the current inflation reading and expressed hope for more similar readings. Powell mentioned that the test for cutting rates would be more confidence that inflation is moving toward 2%.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:41 pm

LYT

Lytus Technologies Holdings PTV Ltd. has filed to withdraw its registration statement, leading to a halt in its shares which surged by 18.65%.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:39 pm

SPY

Fed Chair Powell emphasized that the Summary of Economic Projections is not a plan or decision. He stated that policy assessments will adjust based on economic conditions. If the economy remains solid and inflation persists, interest rates will be maintained as needed. Decisions will be made on a meeting-by-meeting basis.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:39 pm

SPY

Fed Chair Powell emphasized the need to remain highly attentive to inflation risks, stating that there has not been enough progress to confidently cut rates. He highlighted the need for more positive data to bolster confidence in inflation control.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:36 pm

SPY

Federal Reserve Chair Jerome Powell announced that recent monthly inflation readings have shown signs of easing. This could indicate a potential slowdown in the pace of interest rate hikes.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:35 pm

SPY

Fed Chair Powell stated that the economy has made considerable progress with strong job gains, but inflation remains too high. The Fed will maintain its restrictive policy stance to balance demand and supply.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:32 pm

DIA

IWM

QQQ

SPY

Major indexes are higher after the Fed held rates unchanged, with markets gaining on softer-than-expected May CPI readings.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:30 pm

LLY

The FDA has granted traditional approval to Selpercatinib for treating advanced RET fusion-positive thyroid cancer in patients aged 2 and older. This drug had previously received accelerated approval in 2020 for patients aged 12 and older.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:18 pm

QQQ

SPY

The Federal Reserve has decided to keep interest rates unchanged within the 5.25-5.50% range, but the updated economic projections indicate fewer rate cuts and higher inflation estimates. The SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust (QQQ) saw slight gains following the announcement.

Portfolio Pulse from Piero Cingari

June 12, 2024 | 6:14 pm

CMPS

CYBN

DRUG

ENVB

MNMD

SEEL

Oregon's pioneering psilocybin industry is struggling to attract customers a year after its launch. Despite the initial excitement, the industry faces challenges such as regulatory hurdles, marketing restrictions, and competition. Some service centers have already closed, and more may follow. Entrepreneurs and facilitators are working to raise awareness and adapt to the competitive market.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:07 pm