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SPY

Fed Chair Jerome Powell indicated that policymakers are discussing the timing for potential rate cuts, acknowledging strong growth with signs of moderation and progress in inflation control. However, he emphasized that there is still significant work to be done before achieving their goals.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 7:42 pm

SPY

Fed Chair Powell indicated that the word 'any' was added to recent communications to suggest that interest rates are likely at or near their peak. However, the possibility of further hikes has not been ruled out, as participants want to keep their options open.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 7:41 pm

ATOMUSD

AVAXUSD

BONKUSD

SUIUSD

Crypto experts have expressed bullish forecasts for Cosmos (ATOM), BONK, and SUI, with potential price targets and market momentum discussed. Altcoin Sherpa sees ATOM gaining momentum and possibly reaching $15, while also suggesting a positive outlook for BONK. Analyst Bluntz predicts a parabolic rally for SUI and notes that Avalanche (AVAX) is outpacing Solana (SOL) in market movement.

Portfolio Pulse from Murtuza Merchant

December 13, 2023 | 7:40 pm

SPY

Fed Chair Jerome Powell indicated that further interest rate hikes are not off the table and that the Federal Reserve will adjust policy as needed, emphasizing a careful approach and a lack of a preset course. Decisions will be made on a meeting-by-meeting basis.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 7:39 pm

SPY

Federal Reserve Chairman Jerome Powell indicated that the current restrictive monetary policy is exerting downward pressure on economic activity and inflation. Powell also suggested that the Fed's policy rate is at or near its peak, signaling a potential pause or slowdown in rate hikes.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 7:37 pm

PCSA

Processa Pharmaceuticals' stock is trading lower following the announcement of outcomes from its FDA meeting regarding the Phase 2 study of NGC-Cap for cancer patients.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 7:37 pm

SPY

Federal Reserve Chair Jerome Powell has begun a press conference, which could provide insights into the Fed's views on the economy, interest rates, and monetary policy. Investors and analysts will be closely monitoring his statements for clues about future actions that could affect the markets.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 7:31 pm

RKT

There was a notable options market activity for Rocket Companies, with a sweep of 2283 call options at a strike price of $11.5, expiring on Friday. These were traded near the ask price at $0.21, compared to an open interest of 201, indicating new positioning. The stock reference price at the time was $11.485.

Portfolio Pulse from Charles Gross

December 13, 2023 | 7:30 pm

RDFN

There was a notable options trade for Redfin Corporation where a sweep of 1,391 call options for a January 5th expiration with a $9 strike price was executed near the ask price at $0.25 each. This is compared to an open interest of 249 for the same option, indicating a significant increase in trading volume. The underlying stock reference price at the time was $7.94.

Portfolio Pulse from Charles Gross

December 13, 2023 | 7:28 pm

APO

FTCH

Shares of Farfetch Limited (NYSE:FTCH) surged after reports of potential emergency funding talks with Apollo Global Management, Inc. (NYSE:APO) and other firms. The exact terms and amount of funding are unclear, but Farfetch may need up to $500 million. The company, which has struggled post-pandemic with a significant Q2 loss, has also attracted investment from Point72 and Steven A. Cohen. Farfetch has refrained from providing forecasts and plans to update the market soon.

Portfolio Pulse from Nabaparna Bhattacharya

December 13, 2023 | 7:18 pm