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FETUSD

Fetch.ai's (CRYPTO: FET) price increased by 7.32% in the past 24 hours to $1.69, despite a 19.0% loss over the past week. Trading volume climbed 57.0% over the past week, with the circulating supply increasing by 0.33%. The current market cap ranking for FET is #28 at $4.30 billion.

Portfolio Pulse from Benzinga Insights

June 12, 2024 | 7:00 pm

SPY

Fed Chair Powell stated that the Federal Reserve is seeing positive results in reducing inflation through a gradual cooling of the economy. He mentioned that the housing market situation is complex but emphasized that lowering inflation is the best solution. Powell also reassured that the banking system is solid, strong, and well-capitalized.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:59 pm

SPY

Fed Chair Powell stated that current inflation dynamics can persist, and it's uncertain if demand is the main factor. He believes the policy is restrictive and will eventually weaken the economy. Despite no rate hikes being the base case, progress on inflation is noted alongside a strong labor market and good growth levels.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:58 pm

APPN

CFLT

DDOG

ESTC

FICO

INTU

MDB

MNDY

PD

SAP

Shares of software stocks are trading higher as stocks gain following a softer-than-expected May CPI report. The Fed on Wednesday left rates unchanged.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:57 pm

SPY

Fed Chair Powell stated that the latest inflation data is positive and hopes for more similar readings. He believes the current policy stance is appropriate but is prepared to adjust if necessary. The improvement in inflation is attributed to the unwinding of pandemic distortions and positive supply shocks.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:56 pm

LSCC

MRVL

NVTS

NXPI

RMBS

SLAB

SMCI

UCTT

WDC

Shares of semiconductor, memory, and chip-related stocks are trading higher due to softer-than-expected CPI figures and ongoing AI optimism.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:54 pm

SPY

Fed Chair Powell stated that the long-run neutral rate of interest is theoretical and that rates are less likely to return to pre-pandemic levels. He emphasized that current policy is restrictive and is having the intended impact.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:53 pm

SPY

Fed Chair Powell stated that inflation was the key factor influencing rate path forecasts. He noted a pause in inflation progress in Q1, indicating that rate cuts will take longer. However, today's inflation report was better than expected.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:50 pm

SPY

Fed Chair Powell commented on the labor market, noting that while it remains strong, it is gradually cooling. He emphasized the importance of looking at 3 and 6-month payroll series due to differences in surveys. The labor market is no longer as overheated as it was a few years ago.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:49 pm

HUT

Hut 8 Corp (NASDAQ:HUT) shares surged by 16.6% on Wednesday due to a softer-than-expected May CPI report, which has boosted crypto-related stocks. The U.S. inflation rate for May came in lower than anticipated, raising hopes for potential Federal Reserve rate cuts and driving up Bitcoin prices.

Portfolio Pulse from Vaishali Prayag

June 12, 2024 | 6:49 pm