Streetbeat News

Stock Prices

GLD

QQQ

SPY

Federal Reserve Chair Jerome Powell emphasized the need for more confidence in inflation data before considering interest rate cuts, tempering market excitement. Despite a lower-than-expected inflation report, Powell warned that future data might not be as favorable. Stocks trimmed gains, Treasury yields rebounded, and market expectations for a September rate cut slightly eased.

Portfolio Pulse from Piero Cingari

June 12, 2024 | 7:50 pm

GLD

SPY

Doubleline Capital's Jeffrey Gundlach suggests that even at current levels, it is worth dollar-cost averaging into gold. This recommendation was made during a CNBC interview.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 7:48 pm

TVGN

Tevogen Bio Holdings Inc. (NASDAQ:TVGN) will join the Russell 3000 Index effective July 1, 2024, as part of the annual reconstitution of the Russell US Indexes.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 7:47 pm

SPY

Doubleline Capital's Jeffrey Gundlach, in a CNBC interview, reiterated his expectation of a recession within a year. Gundlach's comments are significant given his reputation as a prominent bond investor.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 7:46 pm

EIX

Edison International (NYSE:EIX) has seen a 6.37% increase in its short percent of float, now at 1.67% of all regular shares available for trading. This indicates a rise in bearish sentiment among investors. However, EIX's short interest is still below the peer group average of 2.41%.

Portfolio Pulse from Benzinga Insights

June 12, 2024 | 7:45 pm

KBE

KRE

SPY

XLF

Doubleline Capital's Jeffrey Gundlach stated in a CNBC interview that he believes we have seen the peak for this cycle in longer-term bond yields and probably the Federal Reserve's funds rate.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 7:45 pm

KBE

KRE

SPY

XLF

Doubleline Capital's Jeffrey Gundlach predicts that headline CPI will settle at around 2.5-2.75% for the rest of the year. He also expects very good returns from parts of the fixed income market, particularly BB bank loans.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 7:40 pm

SPY

Doubleline Capital's Jeffrey Gundlach stated in a CNBC interview that the recent Federal Reserve meeting will be remembered for reducing its forecast from three rate cuts to just one. This change in forecast could have significant implications for the stock market.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 7:39 pm

KMX

LAD

POOL

RACE

Shares of companies within the consumer discretionary sector are trading higher following a softer-than-expected May CPI Report and the Fed's decision to leave rates unchanged.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 7:36 pm

SPY

USO

Doubleline Capital's Jeffrey Gundlach stated that a decrease in oil prices could lead to further relaxation on inflation. This could have implications for various financial assets, including ETFs like SPY and USO.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 7:35 pm