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Regulatory

XRPUSD

Two whale transactions involving the transfer of 84 million XRP tokens have caught investors' attention. The first transaction moved 23.9 million XRP to Bitstamp, while the second transferred 60 million XRP from a Ripple account to an unknown address. The SEC has dropped charges against Ripple executives and a court decision partially favored Ripple, indicating no breach of federal securities law. The legal proceedings are set to continue into 2024. XRP's price has seen minor fluctuations, with a slight increase over the past 24 hours but a decrease over the past week.

Portfolio Pulse from Khyathi Dalal

December 13, 2023 | 8:29 pm

SPY

Fed Chair Jerome Powell stated that the Federal Reserve is carefully monitoring the level of reserves and that they have not reached the point where it would be necessary to slow or stop the balance sheet runoff. He emphasized that the policy rate and balance sheet reduction are on separate tracks, indicating that adjustments to the balance sheet policy will not necessarily be made in tandem with interest rate changes.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 8:16 pm

SPY

Fed Chair Powell stated that the balance sheet is functioning as anticipated and expects the reverse repo facility to level out eventually, leading to a decrease in reserves.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 8:14 pm

ALLY

COF

GS

MS

Financial stocks are trading higher after the Federal Reserve left interest rates unchanged, with expectations of rate cuts in the years 2024-2026. This has led to overall market strength and optimism among investors in the financial sector.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 8:13 pm

ABCB

BAC

C

PNC

USB

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