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Bank stocks are experiencing an uptick following the Federal Reserve's decision to maintain current interest rates, with projections indicating potential rate cuts between 2024 and 2026. This news has contributed to overall market optimism, positively impacting the financial sector.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 8:12 pm

SPY

Fed Chair Powell emphasized the need to ease restrictions on the economy before reaching the 2% inflation target, acknowledging the time it takes for policy changes to affect the economy. He also noted that the supply-side contributions to reducing inflation still have 'some ways' to go.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 8:12 pm

EWJ

Japan is set to relax its arms trade regulations by allowing exports of all defense equipment produced under foreign licenses to the countries where the patent holders are located. This decision was reached by a working group under Japan's ruling Liberal Democratic Party and its coalition partner Komeito.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 8:11 pm

CMCSA

Former President Donald Trump's legal team is arguing against the timeline for his upcoming trial related to the 2020 election, comparing the prosecution's efforts to speed up the trial to the Grinch's attempt to 'keep Christmas from coming.' The trial is set to start on March 4, 2024, the day before Super Tuesday. Trump's lawyers have requested a delay until 2026, which could potentially benefit Trump if he were elected president again. The Supreme Court is set to decide quickly on whether to hear the case, with Trump's lawyers needing to respond by December 20. The article also mentions Comcast Corporation (NASDAQ:CMCSA) in relation to the Grinch character, as its unit Illumination produced an animated film featuring the Grinch.

Portfolio Pulse from Chris Katje

December 13, 2023 | 8:05 pm

SPY

Fed Chair Powell indicates uncertainty about whether the Federal Reserve will adopt a threshold-based approach for rate cuts. He acknowledges progress in core inflation and non-housing services inflation, suggesting a cautious approach to monetary policy adjustments.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 8:05 pm

ABT

PRGO

SPY

The FDA has announced measures to enhance the safety and supply chain resilience of infant formula. This follows recent supply disruptions that highlighted vulnerabilities in the infant formula market. The FDA's actions aim to prevent future shortages and ensure a safe supply for consumers.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 8:00 pm

SPY

Fed Chair Powell acknowledged that price levels remain high and this is negatively impacting consumer sentiment. He noted that an improvement in real wages could potentially boost consumer sentiment.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 7:59 pm

SPY

Fed Chair Powell commented on the labor market, noting that wages are slightly above the level consistent with a 2% inflation target. He acknowledged the extremely low unemployment rate but viewed the overall labor market development as positive.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 7:58 pm

SPY

Fed Chair Powell emphasized the importance of considering the totality of data when making policy decisions, focusing on the outlook and balance of risks. He reiterated the Fed's commitment to reducing inflation to the 2% target.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 7:55 pm

SPY

Fed Chair Jerome Powell emphasized the importance of market conditions aligning with monetary policy in the long run, acknowledging the ongoing fluctuations in market forecasts. He expressed approval of the progress being made on inflation control.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 7:54 pm