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Cryptocurrency markets initially surged on positive CPI data but retraced after a hawkish FOMC press conference. Bitcoin, Ethereum, and Dogecoin saw notable price movements. Key statistics include high short liquidations and increased large transaction volumes. Ethereum is considered undervalued by some traders, while Solana and Ripple ETFs are unlikely in the near future.

Portfolio Pulse from Khyathi Dalal

June 12, 2024 | 8:13 pm

TEL

TE Connectivity Ltd. (NYSE:TEL) shareholders approved proposals at a special general meeting, paving the way for a merger with its subsidiary, TE Connectivity plc, and changing the company's jurisdiction from Switzerland to Ireland by September 30, 2024.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 8:12 pm

SPY

The S&P 500 closed higher following soft inflation data, and the Federal Reserve decided to leave interest rates unchanged.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 8:03 pm

RARE

Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE) plans to file for accelerated approval of UX111 for the treatment of Sanfilippo Syndrome Type A after a successful meeting with the FDA. The FDA agreed that cerebral spinal fluid heparan sulfate can be used as a surrogate endpoint for the biologics license application.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 8:01 pm

CARA

Trading for CARA was halted at 4:00:10 p.m. ET due to pending news.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 8:00 pm

NDRA

ENDRA Life Sciences has been granted European Patent EP4021284 for a method and system used in thermoacoustic ultrasonic imaging. This patent could enhance their technological capabilities and market position in the medical imaging sector.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 7:58 pm

GLD

QQQ

SPY

Federal Reserve Chair Jerome Powell emphasized the need for more confidence in inflation data before considering interest rate cuts, tempering market excitement. Despite a lower-than-expected inflation report, Powell warned that future data might not be as favorable. Stocks trimmed gains, Treasury yields rebounded, and market expectations for a September rate cut slightly eased.

Portfolio Pulse from Piero Cingari

June 12, 2024 | 7:50 pm

VALE

Brazil's Transport Minister Renan Filho announced that an agreement with miner VALE over a railways concession is 'mature' and could be signed this month.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 7:49 pm

SPY

Doubleline Capital's Jeffrey Gundlach predicts a significant shift in the Federal Reserve's rhetoric from now until the end of the year, as stated in a CNBC interview.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 7:43 pm

KMX

LAD

POOL

RACE

Shares of companies within the consumer discretionary sector are trading higher following a softer-than-expected May CPI Report and the Fed's decision to leave rates unchanged.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 7:36 pm