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Regulatory

SPY

Fed Chair Powell stated that the current restrictive monetary policy is believed to be sufficient over time to reduce inflation back to the 2% target. The effectiveness of this policy will be determined by future data, and the Fed is committed to maintaining this stance for as long as necessary.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 6:41 pm

SPY

Fed Chair Powell stated that current policy is restrictive and is expected to effectively reduce inflation to the 2% target over time.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 6:41 pm

SPY

Fed Chair Powell stated that current policy is restrictive and impacting demand, as evidenced by the labor market data in the JOLTS report. He noted that quits and hiring rates have normalized, indicating a shift in the labor market dynamics.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 6:40 pm

SPY

Federal Reserve Chairman Jerome Powell reiterated the Fed's commitment to achieving a 2% inflation goal, emphasizing the central bank's focus on stabilizing prices. This statement underscores the Fed's ongoing efforts to manage inflationary pressures in the economy.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 6:39 pm

SPY

Fed Chair Powell announced that future decisions will be made on a meeting-by-meeting basis, emphasizing that a slower pace of quantitative tightening (QT) does not imply a smaller reduction of the Fed's balance sheet. The decision aims to ensure a smooth transition for money markets and reduce the risk of money market stress.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 6:38 pm

SPY

Fed Chair Powell stated that the Federal Reserve does not anticipate cutting rates until there is greater confidence that inflation is moving towards the 2% target. Current inflation readings have not provided this confidence.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 6:37 pm

SPY

Federal Reserve Chairman Jerome Powell emphasized the risks associated with adjusting monetary policy too early or excessively, as well as the dangers of acting too late or insufficiently. This statement underscores the delicate balance the Fed seeks to maintain in its efforts to navigate economic challenges.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 6:37 pm

SPY

Fed Chair Jerome Powell acknowledged the Federal Reserve's acute awareness of the hardships caused by high inflation, indicating a continued focus on addressing inflationary pressures.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 6:37 pm

CETX

CTMX

CVRX

LEG

PFE

RCKY

TMDX

U.S. stocks rose following the Federal Reserve's decision to maintain the federal funds rate at 5.25% to 5.5%. The Dow Jones gained over 200 points, while the NASDAQ and S&P 500 also saw increases. Pfizer reported better-than-expected Q1 financial results, with adjusted EPS and sales beating consensus. CytomX Therapeutics, TransMedics Group, and Rocky Brands saw significant stock increases after positive financial updates. Conversely, Cemtrex, CVRx, and Leggett & Platt experienced notable declines following financial results and updates.

Portfolio Pulse from Avi Kapoor

May 01, 2024 | 6:32 pm

ACB

CGC

CURLF

GTBIF

TCNNF

TLRY

Following the DEA's announcement to reschedule cannabis, the market cap of major cannabis firms has seen significant changes. Curaleaf, Canopy, Tilray, Aurora, Green Thumb Industries, and Trulieve have experienced fluctuations in market capitalization since their public debuts. The total economic impact of regulated marijuana sales in the U.S. is expected to surpass $112.4 billion in 2024, with sales forecasted to reach $32.1 billion. Market cap growth varies among companies, with some experiencing decreases and others increases.

Portfolio Pulse from Nicolás Jose Rodriguez

May 01, 2024 | 6:25 pm