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Regulatory

SPY

Fed Chair Jerome Powell emphasized the importance of balancing the reduction of policy restraint to avoid reversing progress on inflation while also being cautious not to weaken the economy by acting too late. The Fed will make decisions based on incoming data and the balance of risks.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 7:37 pm

SPY

Fed Chair Powell indicated a likelihood of reducing interest rates later this year, but emphasized the economic outlook's uncertainty and that progress on inflation is not guaranteed. He also stated readiness to maintain the current policy rate for a longer period if necessary.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 7:36 pm

SPY

Fed Chair Powell indicated that the Federal Reserve is highly attentive to the risks inflation poses to its dual mandate. The current restrictive monetary policy is exerting downward pressure on economic activity and inflation. Powell also suggested that the policy interest rate is likely at its peak, signaling a potential pause in rate hikes.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 7:36 pm

SPY

Fed Chair Powell indicates that the policy rate is now well into restrictive territory, suggesting a more balanced approach to achieving economic goals. Housing sector activity remains subdued, while the labor market is tight with strong job gains continuing.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 7:33 pm

ASH

GNPX

MINM

NVVE

NYCB

POWL

U.S. stocks closed lower with the Dow down 0.21%, NASDAQ falling 1.53%, and S&P 500 dropping 1.02%. The Federal Reserve kept interest rates unchanged, which was expected. Ashland Inc. (ASH) surged 17% after mixed Q1 results and guidance. Minim, Inc. (MINM) jumped 65% due to a significant stake disclosure. Powell Industries (POWL) gained 48% on strong Q1 results and dividend raise. Nuvve Holding (NVVE) plunged 59% after pricing a public offering. New York Community Bancorp (NYCB) fell 36% on poor Q4 results and dividend cut. Genprex (GNPX) dropped 29% after announcing a reverse stock split.

Portfolio Pulse from Avi Kapoor

January 31, 2024 | 7:26 pm

IWM

SPY

The Federal Reserve kept interest rates unchanged at 5.25-5.5% during its first 2024 meeting, signaling an end to the rate hiking cycle. The Fed's statement omitted references to future hikes and dampened expectations for near-term rate cuts, stating a reduction would only be considered once there is greater confidence in inflation moving sustainably toward 2%. Market reactions included a slight rise in the dollar, a marginal decline in stocks, and a decrease in the probability of a March rate cut from 54% to 46%. The SPDR S&P 500 ETF Trust (SPY) and iShares Russell 2000 ETF (IWM) saw slight declines, while Bitcoin also fell.

Portfolio Pulse from Piero Cingari

January 31, 2024 | 7:19 pm

DIA

IWM

QQQ

SPY

Major stock indexes declined following the Federal Reserve's decision to leave interest rates unchanged.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 7:08 pm

BTCUSD

German authorities seized nearly 50,000 Bitcoins, worth about $2.1 billion, from two suspects involved in copyright violations and money laundering. The seizure is part of an investigation by Saxony prosecutors, Germany’s Federal Criminal Police Office, and the U.S. FBI. This is Germany's largest Bitcoin seizure. The future utilization of the seized Bitcoin is undecided. Globally, over $13.7 billion in Bitcoin remains unliquidated from various seizures, with a recent U.S. court looking to sell $132.5 million worth of Bitcoin from the Silk Road case.

Portfolio Pulse from Khyathi Dalal

January 31, 2024 | 7:07 pm

SPY

The Federal Open Market Committee (FOMC) has observed that inflation has eased over the past year but remains at an elevated level. This assessment may influence the FOMC's future interest rate decisions, which are closely watched by investors as they can affect the overall market and specific asset classes.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 7:04 pm

SPY

The Federal Open Market Committee (FOMC) has reiterated its strong commitment to bringing inflation back to its 2% target. This statement underscores the FOMC's ongoing focus on inflation control, which may involve continuing the current trend of interest rate hikes to manage economic growth and price stability.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 7:04 pm