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GTI

Graphjet Technology shares are trading higher after the company regained compliance status with the NASDAQ.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 6:58 pm

SPY

Fed Chair Powell indicated that the upside risks to inflation have decreased, while downside risks to the employment mandate are now real. He mentioned that the policy rate is clearly restrictive and the time to start rate cuts is approaching. Powell also noted that it will soon be appropriate to dial back restrictions, with a lot of data expected between now and September.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 6:54 pm

TCBP

TC BioPharm shares are trading lower after the company announced a change in its ADS ratio from 1 ADS representing 20 ordinary shares to 1 ADS representing 200 ordinary shares.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 6:53 pm

SPY

Fed Chair Powell stated that there is no specific guidance on the pace of rate cuts, emphasizing that decisions will depend on economic data. He noted broader disinflation and better inflation data compared to last year, but stressed the need for more data to confirm trends. Powell expressed growing confidence with positive data, mentioning that the economy is not overheating and the labor market is softening.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 6:53 pm

RGEN

Repligen Corporation (NASDAQ:RGEN) reported in-line Q2 earnings with sales of $154.1 million and an adjusted EPS of 33 cents. The company expects 2024 revenues of $620 million—$635 million. Analysts revised their price targets: JP Morgan raised to $200, UBS cut to $185. Shares gained 5.3% to $169.16.

Portfolio Pulse from Avi Kapoor

July 31, 2024 | 6:50 pm

SPY

Fed Chair Powell discussed the ongoing normalization of the labor market and indicated that policy rates might move down from current levels. He noted that today's ECI reading was softer than expected and that the data aligns with the normalization process. Powell emphasized that while the job on inflation is not done, the Fed can begin to dial back restrictions in policy rates.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 6:49 pm

DJT

SPY

Former President Trump announced that he would pardon the January 6 protesters if he were to be re-elected. This statement was made during his speech at the National Association of Black Journalists convention.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 6:47 pm

CRM

Whales have shown a bullish stance on Salesforce (NYSE:CRM) with 56% of options trades being bullish. The trades include 16 puts worth $867,792 and 14 calls worth $1,254,075. The price targets range from $100 to $300. Salesforce is currently trading at $253.59, down by 1.68%, with an RSI indicating a neutral position. An analyst from Piper Sandler maintains a Neutral rating with a target price of $250.

Portfolio Pulse from Benzinga Insights

July 31, 2024 | 6:46 pm

SPY

Fed Chair Powell stated that the current labor market is not seen as a likely source of inflation pressures and emphasized the importance of not excessively cooling it. He noted progress on inflation and expressed growing confidence in achieving a 2% target. Powell mentioned that the Fed would respond to any significant downturn in the labor market and highlighted the need to balance risks.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 6:45 pm

SPY

Fed Chair Powell indicated that the future path of interest rates will depend on economic conditions, with scenarios ranging from zero to several rate cuts this year. He noted that the labor market is gradually normalizing and that the Fed is balancing its focus between job growth and inflation control.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 6:43 pm