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QQQ

SPY

The Federal Reserve has decided to keep interest rates unchanged within the 5.25-5.50% range, but the updated economic projections indicate fewer rate cuts and higher inflation estimates. The SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust (QQQ) saw slight gains following the announcement.

Portfolio Pulse from Piero Cingari

June 12, 2024 | 6:14 pm

COIN

HOOD

Shiba Inu (SHIB) has spiked 6% following a significant increase in its burn rate by 16,856%. Major whale movements were observed, including large transfers from Robinhood and Coinbase. The surge in transaction volume and daily active addresses indicates growing interest in SHIB.

Portfolio Pulse from Khyathi Dalal

June 12, 2024 | 6:04 pm

SPY

The Federal Reserve's latest projections indicate a potential 25 basis points (BPs) rate cut in 2024 from the current level, followed by an additional 100 BPs cut in 2025.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:03 pm

SPY

The Federal Reserve projects 2.1% GDP growth and 4% unemployment for 2024, raises the inflation forecast to 2.6%, and sees the Fed Funds Rate at a median of 5.1% by the end of 2024. The discount rate remains unchanged at 5.50%.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:02 pm

SPY

The Federal Reserve has reported that inflation has eased over the past year but remains elevated. This indicates a potential shift in monetary policy and economic outlook.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:02 pm

DIA

GLD

IWM

QQQ

SPY

Indexes and gold prices have pulled back after the Federal Reserve decided to leave interest rates unchanged.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:02 pm

SPY

The Federal Reserve has decided to maintain the interest rate paid on reserve balances at 5.4% and the federal funds rate in a target range of 5.25% to 5.5%. The Fed will also conduct various open market operations and reinvestments to manage liquidity and monetary policy.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:01 pm

GM

15 analysts have recently evaluated General Motors (NYSE:GM), with a mix of bullish and bearish perspectives. The average 12-month price target is $54.87, reflecting a 4.14% increase from the previous average. Analysts have raised their price targets, indicating positive sentiment. GM's financial performance shows strong net margins, ROE, and ROA, but a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

June 12, 2024 | 6:01 pm

STT

Five analysts have recently published ratings on State Street (NYSE:STT), ranging from bullish to indifferent. The average 12-month price target is $87.2, with a high of $90.00 and a low of $82.00. Analysts have maintained or raised their ratings and price targets, reflecting a positive sentiment. State Street's financial metrics, such as revenue growth, net margin, ROE, ROA, and debt management, show mixed performance compared to industry benchmarks.

Portfolio Pulse from Benzinga Insights

June 12, 2024 | 6:00 pm

SPY

The Federal Reserve's FOMC statement for June 12, 2024, indicates that economic activity continues to expand, job gains remain strong, and inflation has eased but is still elevated. The Fed decided to maintain the federal funds rate at 5.25% to 5.5% and will continue reducing its holdings of Treasury securities and agency debt. The Committee remains vigilant about inflation risks and will adjust monetary policy as needed.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:00 pm