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MATICUSD

USDCUSD

Investors and analysts are anticipating the Federal Reserve's potential rate cuts in 2024, with the FOMC meetings being closely watched. The Fed hinted at three rate cuts for 2024, adjusting from an initial four due to higher inflation. Goldman Sachs economist Alec Phillips predicts these cuts in June, September, and December. The crypto prediction market Polymarket has over $3.1 million wagered on the timing of these cuts, with a majority betting on a cut by June 12.

Portfolio Pulse from Chris Katje

March 19, 2024 | 4:54 pm

EWJ

SMH

Chip stocks experienced a pullback while the dollar strengthened in anticipation of the Federal Reserve's decision. Additionally, Japan's central bank raised interest rates, impacting global markets.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 4:49 pm

NOK

RDDT

Reddit is reviewing a letter from Nokia Technologies claiming patent infringement by the social media platform. This comes just before Reddit's highly anticipated IPO this week.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 4:45 pm

COCH

Envoy Medical has been granted a European patent (EP3858425) for an 'Implantable Modular Cochlear Implant System With Communication System And Network'. This development could enhance Envoy Medical's product offerings in the European market, potentially leading to increased market share and revenue from sales of this advanced cochlear implant system.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 4:36 pm

MITK

Mitek (NASDAQ:MITK), a leader in digital identity and fraud prevention, announced a delay in filing its FY23 Annual Report on Form 10-K due to issues transmitting the report to the SEC's EDGAR system since March 18, 2024. The company is working to resolve the issue with its financial reporting provider and the SEC. Despite the delay, Mitek plans to issue an earnings release and hold an earnings call on March 19, 2024, to discuss its fiscal 2023 Q4 and full-year results. The earnings call is contingent on successfully filing a Form 8-K with the SEC.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 4:25 pm

AAPL

AMZN

GOOG

NVDA

TSLA

Nvidia is extending its AI dominance, with its stock becoming a favorite for speculative trading, particularly in options. The company announced Blackwell, a successor to its Hopper AI chip, promising significant performance improvements. Meanwhile, the Bank of Japan raised interest rates for the first time in 17 years, which could have long-term negative implications for the U.S. stock market. Early trade money flows show positive trends for AAPL and GOOG, but negative for AMZN, META, MSFT, NVDA, TSLA, SPY, and QQQ. The momo crowd is actively buying stocks, gold, and oil in early trades.

Portfolio Pulse from The Arora Report

March 19, 2024 | 4:23 pm

TAK

Takeda (TAK) has received U.S. FDA approval for a supplemental New Drug Application for ICLUSIG in adult patients with newly diagnosed Ph+ ALL in combination with chemotherapy. This makes ICLUSIG the first and only targeted treatment for this condition in the U.S. The approval, under accelerated conditions based on MRD-negative complete remission rates, was supported by data from the Phase 3 PhALLCON trial, demonstrating superiority over imatinib. Continued approval may depend on further confirmatory trials.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 4:21 pm

ARBK

BTDR

CLSK

HUT

The article discusses the overestimated fears surrounding the upcoming Bitcoin halving event, highlighting its potential impact on miners and the broader crypto market. It emphasizes that historical data shows Bitcoin's price typically surges post-halving, countering concerns about miner profitability and exodus. The analysis mentions specific companies like Argo Blockchain (ARBK) and Hut 8 (HUT) as vulnerable, while Bitdeer (BTDR) and CleanSpark (CLSK) are positioned to remain profitable. Additionally, the introduction of Bitcoin Ordinals and the approval of Bitcoin ETFs are seen as positive developments that could support the market.

Portfolio Pulse from Gracy Chen

March 19, 2024 | 4:01 pm

AMD

NVDA

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares dropped 6.54% to $178.19 amid semiconductor sector weakness, influenced by the Fed's meeting, NVIDIA's announcements, and the Bank of Japan's policy shift. Despite the market's current volatility, Wall Street analysts generally rate AMD as Outperform, with expectations of significant growth.

Portfolio Pulse from Henry Khederian

March 19, 2024 | 3:47 pm

ETHUSD

LDOUSD

Fidelity has updated its Ethereum ETF application to include staking, aiming to allow investors to earn additional income. Despite a brief price surge for Lido DAO following the announcement, the broader Ether ecosystem, including Lido DAO, has seen a downturn. Fidelity's application is among eight seeking SEC approval, with a decision deadline set for May 23. Analysts, including Bloomberg's James Seyffart, are skeptical about approval due to regulatory challenges.

Portfolio Pulse from Murtuza Merchant

March 19, 2024 | 3:31 pm