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U.S. Secretary of State Antony Blinken stated that the NATO alliance has become stronger and larger than ever before, attributing this growth to Russia's invasion of Ukraine, which resulted in Sweden joining NATO.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 4:32 pm

SPY

Fed Chair Powell stated that Federal Home Loan Banks are technologically ahead but feels confident about the current policy stance. He mentioned that the Fed is close to being more confident in their policy direction.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 4:30 pm

SPY

VGK

Sweden has officially joined NATO, as confirmed by a NATO statement. This development could have implications for geopolitical stability and defense-related stocks.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 4:29 pm

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XLF

Fed Chair Powell highlighted that banks with significant commercial real estate (CRE) exposure, particularly in the office sector, are being closely monitored. He anticipates failures among small and medium-sized banks with the largest exposure but does not expect major banks to fail. Powell emphasized the importance of all banks being familiar with the Federal Reserve's discount window as a liquidity measure.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 4:29 pm

SPY

Fed Chair Powell stated that the U.S. is far from considering a Central Bank Digital Currency (CBDC), emphasizing that only banks have accounts at the Federal Reserve and this policy will remain unchanged. He indicated that the introduction of a CBDC is not close to happening in the near future.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 4:26 pm

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XLF

Fed Chair Powell emphasized that only banks have accounts at the Federal Reserve, a policy that will continue. He also noted that the Federal Home Loan Banks possess more advanced technology than the Fed, but any significant technological updates or policy changes at the Fed are not imminent.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 4:26 pm

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Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin are on the rise as investors buy the dip, with Bitcoin ETFs seeing strong inflows. The Arizona Senate is considering BTC ETFs for pension funds. Gold hits an unprecedented high amid economic uncertainties. US markets and stocks record gains, while major spending bills pass in the US House to prevent government shutdown. Tech giants like Apple and Google face scrutiny and challenges, while the EV market sees activity from Rivian and Tesla. Healthcare and energy sectors also see notable developments.

Portfolio Pulse from Akanksha Bakshi

March 07, 2024 | 4:23 pm

SPY

Fed Chair Powell stated that the U.S. is not close to recommending or adopting a Central Bank Digital Currency (CBDC) in any form. This announcement may influence investor sentiment regarding the future of digital currencies and their integration into the traditional financial system.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 4:17 pm

SPY

Fed Chair Powell announced that the Federal Reserve will focus on two specific actions regarding climate change: conducting climate stress scenarios, which large banks are already implementing, and offering guidance on assessing climate-related risks. He emphasized that there are no new climate initiatives being introduced.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 4:17 pm

SPY

Fed Chair Powell emphasized the commitment to maintaining a strong economy and labor market while progressing on inflation control. He noted the cooling labor market and flattening food inflation, highlighting the U.S. economy's superior performance among advanced economies.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 4:15 pm