Streetbeat News

Regulatory

SPY

Federal Reserve's Loretta Mester stated that the main debate within the Fed is whether the current interest rates are restrictive enough. She also emphasized the need for the Fed to be patient with its policy at the moment.

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 3:39 pm

SPY

Federal Reserve's Loretta Mester stated that there is likely more work to be done with interest rates, expressing concern about the Fed overtightening them. In her June forecast, she did not anticipate the Fed cutting rates in 2024.

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 3:38 pm

SPY

Federal Reserve's Mester has stated that the current rates are nearing the desired level. However, she emphasized the need for more evidence of cooling inflation.

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 3:36 pm

SPY

Federal Reserve's Harker has stated that there should be no change in the course of balance sheet rundown at this point. He also mentioned that the endgame for balance sheet drawdown is not near.

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 3:12 pm

SPY

Federal Reserve's Harker has stated that labor markets are cooling and he doubts that rate cuts will be on the table until next year. This could potentially impact the overall market, including ETFs like SPY.

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 3:06 pm

SPY

Federal Reserve's Harker has stated that he does not see the need for additional rate rises at the moment. He suggests holding rates steady to observe how policy affects the economy. However, if inflation retreat stalls, it could call for more rate hikes.

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 3:04 pm

SPY

Federal Reserve's Harker has stated that the goal is to bring inflation back to 2%. This could potentially impact the overall market, including ETFs like SPY.

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 3:02 pm

SPY

Federal Reserve Chair Jerome Powell stated that the Fed is prepared to raise rates further if necessary to achieve its price stability goal. Powell emphasized the commitment to keep rates at a restrictive level until a sustainable decline in inflation is observed. Powell’s remarks have prompted a recalibration of market expectations, with the odds of a rate hike in September surging to 21.5%, and the likelihood of a rate hike by November rising to 52%, according to data from CME Group.

Portfolio Pulse from Piero Cingari

August 25, 2023 | 2:58 pm

BLK

BTCUSD

ETHUSD

ARK Invest, led by Cathie Wood, and 21Shares have filed applications for two futures exchange-traded fund (ETF) products focused on Ether (ETH) and Bitcoin (BTC). The proposed ETFs are named ARK 21Shares Active Ethereum Futures ETF (ARKZ) and ARK 21Shares Active Bitcoin Ethereum Strategy ETF (ARKY). The ARKZ ETF will allocate a minimum of 25% of its investments to Ether futures products linked to the ETH cryptocurrency. The ARKY ETF will dedicate at least 25% to combined Ether and Bitcoin futures products.

Portfolio Pulse from Murtuza Merchant

August 25, 2023 | 2:40 pm

BMY

PFE

The Bristol Myers Squibb-Pfizer Alliance presented results from a retrospective study at the European Society of Cardiology Congress 2023. The study showed that switching from Eliquis to rivaroxaban in Non-Valvular Atrial Fibrillation patients was associated with a higher risk of stroke and major bleeding than those who continued Eliquis. The study used real-world data from 2013 to 2021, and found that switching from rivaroxaban to Eliquis was associated with a similar risk of stroke and a lower risk of major bleeding compared to those who continued rivaroxaban.

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 2:34 pm