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SPY

Federal Reserve Chairman Jerome Powell stated that inflation remains above the Fed's target, despite having eased notably. This indicates ongoing concerns about inflationary pressures in the economy.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 6:36 pm

SPY

Fed Chair Powell acknowledges the labor market's tightness but notes an improving balance between supply and demand.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 6:35 pm

SPY

Fed Chair Powell highlighted that GDP growth has been supported by robust consumer demand and improving supply chains. However, he also noted that elevated interest rates have negatively impacted business fixed income investment.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 6:35 pm

SPY

Federal Reserve Chairman Jerome Powell stated that the path forward for the U.S. economy remains uncertain, indicating potential volatility in financial markets.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 6:32 pm

SPY

Fed Chair Powell stated the economy has shown considerable progress, with a substantial easing in inflation. However, he cautioned that ongoing progress is not guaranteed.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 6:32 pm

DHI

HD

LEN

LOW

The U.S. housing market is experiencing a mortgage lock-in issue, where high mortgage rates discourage homeowners from selling, contributing to a housing shortage and pushing prices up. Home development retailers like Home Depot Inc (HD) and Lowe's Companies Inc (LOW) have seen sales boosts due to homeowners opting to improve their current homes instead of moving. This situation pressures builders like D.R. Horton Inc (DHI) and Lennar Corporation (LEN) to increase new home construction. The Federal Housing Finance Agency reports that mortgage lock-in reduced home sales by 57% in Q4 2023, suggesting solutions like tax credits and mortgage portability to alleviate the issue.

Portfolio Pulse from Neil Dennis

March 20, 2024 | 6:29 pm

GLD

SPY

UUP

The Federal Reserve maintained interest rates at 5.25%-5.5% during its March meeting, with projections indicating three rate cuts in 2024, fewer reductions in 2025 and 2026. Economic growth projections for 2024-2026 were revised upwards, while the unemployment rate for 2024 was slightly reduced. Following the announcement, the SPDR S&P 500 ETF Trust (SPY) rose 0.4%, the Invesco DB USD Index Bullish Fund ETF (UUP) fell 0.2%, and the SPDR Gold Trust (GLD) increased by 0.8%.

Portfolio Pulse from Piero Cingari

March 20, 2024 | 6:13 pm

GLD

Gold prices have increased following the Federal Reserve's decision to keep interest rates unchanged.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 6:05 pm

DIA

IWM

QQQ

SPY

Major stock indexes experienced an uptick following the Federal Reserve's decision to keep interest rates unchanged. This decision impacts investor sentiment and market dynamics, influencing the performance of major index-tracking ETFs such as DIA, IWM, QQQ, and SPY.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 6:04 pm

SPY

The Federal Reserve has reiterated its strong commitment to reducing inflation back to its 2% target. It also noted that the risks to its employment and inflation goals are becoming more balanced.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 6:03 pm