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Fear has evaporated in the stock market, with greed taking over. Wall Street's fear gauge VIX dropped as S&P 500 ETF SPY, Invesco QQQ Trust Series 1, Tesla, NVIDIA, and VanEck Semiconductor ETF fell. Jobless claims came in at 264K, and central banks in the UK, Norway, and Switzerland raised interest rates.

Portfolio Pulse from The Arora Report

June 22, 2023 | 4:07 pm

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OpenAI CEO Sam Altman discussed the importance of global regulation in ensuring AI safety at the Bloomberg Technology Summit. He mentioned major tech companies like Amazon, Google, Alphabet, Microsoft, and Nvidia as key players in the AI industry.

Portfolio Pulse from Benzinga Newsdesk

June 22, 2023 | 3:55 pm

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Federal Reserve Chairman Jerome Powell stated that further capital increases will be considered but will need to be justified.

Portfolio Pulse from Benzinga Newsdesk

June 22, 2023 | 3:54 pm

SPY

Federal Reserve Chairman Jerome Powell stated that rate cuts will have to wait until the Fed is confident that inflation is moving down to 2%. This statement may impact the stock market and ETFs like SPY.

Portfolio Pulse from Benzinga Newsdesk

June 22, 2023 | 3:47 pm

SPY

Federal Reserve Chairman Jerome Powell stated that the Fed's median projections include some rate cuts next year, but the decision will depend on the economy. He also mentioned that inflation has been more persistent than expected.

Portfolio Pulse from Benzinga Newsdesk

June 22, 2023 | 3:47 pm

SPY

Federal Reserve Chairman Jerome Powell stated that housing activity has reached a bottom and is now improving, with new buyers driving the strength in the housing market.

Portfolio Pulse from Benzinga Newsdesk

June 22, 2023 | 3:36 pm

SPY

Federal Reserve Chairman Jerome Powell stated that the Fed has slowed down its approach to interest rate hikes to avoid going too far, with the majority of the committee believing one or two more rate hikes will be appropriate.

Portfolio Pulse from Benzinga Newsdesk

June 22, 2023 | 3:34 pm

SPY

Federal Reserve Chairman Jerome Powell stated that there is not much evidence of additional credit tightening beyond what has been observed, but the Fed will continue to monitor the situation.

Portfolio Pulse from Benzinga Newsdesk

June 22, 2023 | 3:32 pm

SPY

Federal Reserve Chairman Jerome Powell stated that the stigma associated with the discount window has decreased slightly. The discount window is a tool used by the Fed to provide short-term loans to banks.

Portfolio Pulse from Benzinga Newsdesk

June 22, 2023 | 3:32 pm

SPY

Federal Reserve Chairman Jerome Powell emphasized the critical importance of banks being willing and able to use the discount window. He noted that one reason banks hesitate to borrow at the discount window is the public disclosure of their names, albeit with a lag.

Portfolio Pulse from Benzinga Newsdesk

June 22, 2023 | 3:31 pm