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The Federal Reserve has raised the federal funds rate by 0.25%, pushing borrowing costs to their highest level since February 2001. This news led to mixed trading for U.S. stocks, with the Dow up 0.29% and the NASDAQ and S&P 500 falling slightly. Silicon Motion Technology Corporation (SIMO), ABVC BioPharma, Inc. (ABVC), and Vicor Corporation (VICR) saw significant stock increases, while Dunxin Financial Holdings Limited (DXF), Snap Inc. (SNAP), and Euronet Worldwide, Inc. (EEFT) experienced notable drops.

Portfolio Pulse from Lisa Levin

July 26, 2023 | 6:39 pm

SPY

Federal Reserve Chair Jerome Powell has stated that no decisions have been made regarding any future meetings. This statement may lead to uncertainty in the market.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 6:38 pm

SPY

Federal Reserve Chair Jerome Powell has stated that the Fed has not made a decision to hold meetings every other month, contrary to some speculation.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 6:38 pm

SPY

Federal Reserve Chair Jerome Powell has stated that the Fed will make decisions on a meeting-by-meeting basis. This statement suggests a cautious approach to monetary policy, potentially impacting the broader market.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 6:37 pm

SPY

Federal Reserve Chair Jerome Powell has stated that the effects of increases on demand in most rate-sensitive sectors are already being observed, but it will take time for the full effects to be realized.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 6:36 pm

SPY

Federal Reserve Chair Jerome Powell has stated that the Fed is highly attentive to the risks inflation poses to both sides of its mandate. This comes amid concerns about rising inflation in the US.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 6:35 pm

SPY

Federal Reserve Chair Jerome Powell has stated that inflation has somewhat moderated, according to Reuters. This statement could potentially influence the overall market sentiment.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 6:35 pm

SPY

Federal Reserve Chairman Jerome Powell has stated that the Federal Open Market Committee (FOMC) is strongly committed to achieving a 2% inflation rate. He also emphasized that a strong labor market cannot be achieved without price stability.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 6:34 pm

SPY

Federal Reserve Chair Jerome Powell has indicated that there are continuing signs of labor supply and demand coming into better balance. This statement could have implications for the broader market and economy.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 6:33 pm

SPY

Federal Reserve Chairman Jerome Powell has stated that the full effects of the central bank's tightening measures have not yet been felt. This statement suggests that the impact of the Fed's actions on the economy and the markets may be more significant in the future.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 6:33 pm