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U.S. stocks rose following the Federal Reserve's decision to maintain the federal funds rate at 5.25% to 5.5%. The Dow Jones gained over 200 points, while the NASDAQ and S&P 500 also saw increases. Pfizer reported better-than-expected Q1 financial results, with adjusted EPS and sales beating consensus. CytomX Therapeutics, TransMedics Group, and Rocky Brands saw significant stock increases after positive financial updates. Conversely, Cemtrex, CVRx, and Leggett & Platt experienced notable declines following financial results and updates.

Portfolio Pulse from Avi Kapoor

May 01, 2024 | 6:32 pm

BTCUSD

ETHUSD

SOLUSD

Alex Krüger, an economist and trader, shared insights on the cryptocurrency market, highlighting the Bitcoin ETF as a key driver of the current cycle. He noted Ethereum's underperformance despite benefits for stakers and airdrop farmers, and praised Solana for its appeal to retail traders but mentioned its network issues. Krüger also discussed the rise of meme coins and the market's volatility due to scammy launches, emphasizing that the crypto cycle is not over and opportunities still exist.

Portfolio Pulse from Khyathi Dalal

May 01, 2024 | 6:31 pm

Over the past 15 years, Visa (NYSE:V) has significantly outperformed the market, with an annualized return of 20.52%, turning a $1000 investment into $16,271.04 today. Visa's market capitalization currently stands at $539.62 billion.

Portfolio Pulse from Benzinga Insights

May 01, 2024 | 6:30 pm

Over the past 15 years, Parker Hannifin (NYSE:PH) has produced an average annual return of 17.97%, outperforming the market by 5.91%. A $1000 investment in PH 15 years ago would now be worth $11,480.06. The company currently has a market capitalization of $69.97 billion.

Portfolio Pulse from Benzinga Insights

May 01, 2024 | 6:30 pm

BAC

FITB

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JPMorgan analyst Vivek Juneja highlights a positive outlook for Bank of America Corp (BAC) and Fifth Third Bancorp (FITB), citing benefits from sustained high interest rates and a recovering economy. Juneja is overweight on both stocks, with year-end price targets of $40.50 for BAC and $39.50 for FITB. Wells Fargo & Co (WFC) is also mentioned as poised for growth, particularly with an expected asset cap lift.

Portfolio Pulse from Surbhi Jain

May 01, 2024 | 6:27 pm

PINS

Citigroup analyst Ronald Josey has maintained a Buy rating on Pinterest (NYSE:PINS) and increased the price target from $48 to $51.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 6:27 pm

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TLRY

Following the DEA's announcement to reschedule cannabis, the market cap of major cannabis firms has seen significant changes. Curaleaf, Canopy, Tilray, Aurora, Green Thumb Industries, and Trulieve have experienced fluctuations in market capitalization since their public debuts. The total economic impact of regulated marijuana sales in the U.S. is expected to surpass $112.4 billion in 2024, with sales forecasted to reach $32.1 billion. Market cap growth varies among companies, with some experiencing decreases and others increases.

Portfolio Pulse from Nicolás Jose Rodriguez

May 01, 2024 | 6:25 pm

UUP

The Federal Reserve maintained the federal funds rate at 5.25% to 5.5% and announced a slower pace for reducing its balance sheet, with Treasury securities redemption cap reduced from $60 billion to $25 billion, contrary to market expectations of a reduction to $30 billion. The Fed aims for sustainable growth and inflation control, not foreseeing rate cuts until inflation is confidently moving towards 2%. The U.S. dollar index, as tracked by the Invesco DB USD Index Bullish Fund ETF (UUP), slightly declined following the announcement.

Portfolio Pulse from Piero Cingari

May 01, 2024 | 6:22 pm

CENX

Century Aluminum shares are trading lower due to a Q1 revenue miss.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 6:19 pm

NVDA

NVDX

USD

CoreWeave, an AI cloud-computing firm backed by NVIDIA Corp (NVDA), has secured $1.1 billion in new funding, valuing the company at $19 billion. The funding, led by Coatue with participation from Magnetar, Altimeter Capital, Fidelity Management & Research Company, and Lykos Global Management, will support growth and expansion. CoreWeave distinguishes itself in the AI computation market, competing with giants like Microsoft (MSFT) and Amazon (AMZN). NVIDIA's stock has seen significant gains, and exposure to NVDA can be gained through ETFs like NVDX and USD.

Portfolio Pulse from Shivani Kumaresan

May 01, 2024 | 6:16 pm