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SPY

Fed Chair Powell stated that the household sector remains in good shape but is facing increasing financial pressures, especially among lower-income individuals. He emphasized the importance of fostering a strong jobs economy and noted that unexpected increases in unemployment would be seen as a sign of weakening.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 7:13 pm

SPY

Fed Chair Powell stated that the Federal Reserve is committed to its current monetary policy until inflation is under control. He noted that the latest inflation report is encouraging but follows several disappointing ones. Powell also mentioned that shelter inflation has a significant lag and may take years to reflect lower housing inflation.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 7:09 pm

SPY

Fed Chair Powell commented on the latest CPI reading, stating it is a positive step but cautioned against overreacting to a single data point. He emphasized the Fed's commitment to controlling inflation.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 7:05 pm

SPY

Fed Chair Powell emphasized that the entire path of interest rates is important, not just the first rate cut. He noted that the first rate cut is a significant decision for the economy.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 7:03 pm

AZN

AstraZeneca announced that its drug Farxiga has received FDA approval to improve glycaemic control in paediatric patients with Type-2 diabetes aged 10 years and older.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 7:03 pm

AZN

AstraZeneca announced that its drug Farxiga has been approved in the U.S. for the treatment of pediatric type-2 diabetes.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 7:02 pm

ALLY

BLK

BX

CG

IVZ

SPGI

Shares of financial stocks are trading higher following a softer-than-expected May CPI Report. Additionally, the Federal Reserve has left interest rates unchanged.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 7:02 pm

SPY

Fed Chair Powell stated that while inflationary pressures have decreased, non-housing services still show elevated inflation. There was an unexpected increase in import prices on goods, and wages are running above a sustainable path. Although wages are not the principal cause of inflation, they must decrease for inflation to return to 2%.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 7:02 pm

BHRB

CFG

KEY

LYG

MTB

NWG

RF

SHG

USB

WAL

Shares of banking stocks are trading higher following a softer-than-expected May CPI Report. Additionally, the Federal Reserve has left interest rates unchanged.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 7:00 pm

SPY

Fed Chair Powell stated that the Federal Reserve is seeing positive results in reducing inflation through a gradual cooling of the economy. He mentioned that the housing market situation is complex but emphasized that lowering inflation is the best solution. Powell also reassured that the banking system is solid, strong, and well-capitalized.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:59 pm