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Regulatory

SPY

The hearing of Fed Chair Powell at the Senate Banking Committee has concluded.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 5:09 pm

SPY

Fed's Mester commented that the January inflation reports served as a 'wake up call', indicating a potential shift in the Federal Reserve's approach to handling inflation. This statement could influence market expectations regarding interest rates and monetary policy adjustments.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 5:02 pm

SPY

Fed's Mester discusses the uncertainty surrounding the current neutral interest rate and the extent of the restrictiveness of current monetary policy. She notes the resilience of labor markets amidst these conditions.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 5:02 pm

BMY

The FDA approved Nivolumab in combination with Cisplatin and Gemcitabine for the first-line treatment of adult patients with unresectable or metastatic urothelial carcinoma on March 6. This marks a significant development in the treatment options available for this type of cancer.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 4:58 pm

MMAT

Meta Materials has filed a U.S. patent application (#20240079791) for an 'Electromagnetic Wave Director', indicating a potential advancement in technology that could impact various industries by improving electromagnetic wave manipulation.

Portfolio Pulse from Charles Gross

March 07, 2024 | 4:46 pm

META

SNAP

Shares of US social media companies are trading higher in anticipation of a U.S. House Committee on Energy and Commerce vote on legislation that could compel ByteDance to sell TikTok. This development is seen as potentially beneficial for US-based social media companies.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 4:45 pm

SPY

Fed Chair Powell emphasized the distance from fiscal policy overwhelming monetary policy, stressing the need for discussions on fiscal sustainability. He expressed hope for a return to such discussions and mentioned exploring liquidity innovations post-SVB, though finalizations are not yet close.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 4:44 pm

AVGO

Semiconductor stocks are experiencing an uptick due to the ongoing momentum in AI technology. Broadcom is set to announce its Q1 earnings after the market closes today. The sector's rise is also partly attributed to the anticipation of subsidies from the CHIPS act.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 4:39 pm

SPY

Fed Chair Powell discussed the possibility of shortening the maturity of Fed holdings and expressed a preference against holding mortgage-backed securities (MBS). He also clarified that Basel 3 rules are not directly related to the SVB failure, and he is following through on his previous statements without withdrawing any rule.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 4:39 pm

SPY

Fed's Mester expressed optimism about the current state of monetary policy, suggesting that if the economy performs as forecasted, interest rate cuts could occur later this year. She believes that the Federal Reserve is in a 'good place' with the flexibility to maintain current rates while evaluating additional data, and anticipates a gradual reduction in rates.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 4:37 pm