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SPY

Fed Chair Powell indicated uncertainty about the economic outlook, stating that while there may be discussions on when to cut rates, the decision will be made with great care and they are not fully confident in that view yet.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 7:51 pm

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TSLA

Tesla (NASDAQ:TSLA) announced a recall for over 2 million vehicles to address a software issue with Autosteer, but shares only fell slightly by 2.9% in morning trade and are currently down 1.15%. This mild reaction is contrasted with the stock's 71% gain in 2023 and the historical impact of recalls on other automakers like Ford and Toyota. The recall is digital, requiring only an over-the-air software update. The NHTSA issued the recall due to safety concerns with Tesla's Autopilot system after investigating numerous crashes. Social media reactions vary, with some defending Tesla's update process and criticizing the media's portrayal of the event.

Portfolio Pulse from Neil Dennis

December 13, 2023 | 7:51 pm

SPY

Fed Chair Powell stated that the Federal Reserve does not consider political events when deciding on interest rates, and they will act in the best interest of the economy. He also mentioned that policymakers believe they have done enough in terms of rate adjustments.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 7:50 pm

SPY

Fed Chair Powell acknowledged the importance of real interest rates in policy considerations, admitting the difficulty in gauging the exact tightness of policy at any time. He anticipates a decline in real rates moving forward.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 7:49 pm

SPY

Fed Chair Powell has indicated that while there are positive signs in the fight against inflation, it is too early to declare victory. The difference in projections reflects lower inflation than previously expected, and the Fed is very conscious of real interest rates as a part of their decision-making process.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 7:49 pm

RNXT

RenovoRx shares surged following the company's announcement of filing an international patent application for its Trans-Arterial Micro-Perfusion therapy platform, which is a novel treatment method.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 7:48 pm

SPY

Federal Reserve Chairman Jerome Powell indicated that discussions about when to cut interest rates are becoming more prominent. During the recent Fed meeting, many participants shared their rate forecasts, suggesting that rate cuts are expected to be a key topic in future conversations.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 7:44 pm

SPY

Fed Chair Jerome Powell indicated that policymakers are discussing the timing for potential rate cuts, acknowledging strong growth with signs of moderation and progress in inflation control. However, he emphasized that there is still significant work to be done before achieving their goals.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 7:42 pm

SPY

Fed Chair Powell indicated that the word 'any' was added to recent communications to suggest that interest rates are likely at or near their peak. However, the possibility of further hikes has not been ruled out, as participants want to keep their options open.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 7:41 pm

SPY

Fed Chair Jerome Powell indicated that further interest rate hikes are not off the table and that the Federal Reserve will adjust policy as needed, emphasizing a careful approach and a lack of a preset course. Decisions will be made on a meeting-by-meeting basis.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 7:39 pm