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Ethereum (ETH) has underperformed compared to Bitcoin (BTC) and Solana (SOL) over the past year, facing challenges from competition, regulatory scrutiny, and market dynamics. Despite this, positive developments such as potential for an Ethereum ETF, tokenization narratives, and L2 growth offer hope for its future. Bitcoin's acceptance in traditional finance and Solana's meme coin popularity highlight their strengths, while Ethereum must navigate SEC investigations and seek new demand sources to regain momentum.

Portfolio Pulse from Khyathi Dalal

May 14, 2024 | 2:47 pm

DNA

Ginkgo Bioworks Holdings' shares surged following a continued listing standard notice from the NYSE and potential influence from 'Roaring Kitty's' return to social media, which may have boosted high-short interest stocks.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 2:44 pm

SPY

Fed Chair Powell indicated that maintaining the current policy rate for an extended period is likely, suggesting a cautious approach to interest rate adjustments.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 2:42 pm

SPY

Fed Chair Powell stated that homeowners and businesses have secured lower interest rates, which is causing the Fed's policy to have a less intense impact on the economy than anticipated.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 2:41 pm

SPY

Fed Chair Powell stated that the demand for workers has cooled off substantially, indicating that wages are coming down. This suggests that the current policy is probably restrictive.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 2:41 pm

SPY

Fed Chair Powell addressed U.S. fiscal policy sustainability, labor shortages alleviation through immigration, and the limited relevance of R-Star as a longer-run neutral rate in policy making today. He emphasized that the current fiscal path is unsustainable, immigration is helping with labor shortages, and the Fed does not focus on the longer-run neutral rate when making policy decisions.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 2:37 pm

SPY

Fed Chair Powell emphasized the importance of credibility for central banks, stating it is achieved by fulfilling their mandate without engaging in politically charged issues. He highlighted progress on inflation and the importance of focusing on their core responsibilities.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 2:28 pm

GOOG

GOOGL

IGM

XLC

U.S. auto safety regulators are investigating Alphabet Inc's Waymo self-driving vehicles for potential traffic safety law violations after 22 incidents, including 17 collisions. The National Highway Traffic Safety Administration (NHTSA) is examining Waymo's 5th Generation automated driving system's performance in detecting and responding to traffic control devices. This investigation also includes other companies like GM's Cruise and Amazon's Zoox. Waymo has recalled 444 vehicles due to software errors in February and is cooperating with NHTSA.

Portfolio Pulse from Shivani Kumaresan

May 14, 2024 | 2:28 pm

SPY

Fed Chair Powell indicated a likelihood of maintaining the current policy rate, citing housing inflation as puzzling and noting that current rent increases are low. He mentioned delays in the impact of declining market rates on housing and suggested that non-housing services inflation might take the longest to adjust.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 2:20 pm

SPY

Fed Chair Powell indicated that maintaining the current policy rate for an extended period is under consideration, acknowledging the rate's restrictive nature. He expressed uncertainty about whether the current policy is sufficiently restrictive and deemed a rate hike in the near future as unlikely.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 2:19 pm