Happy Wednesday, Zingernation! Jerome Powell may be a renowned Dead Head, but he was more Steven Tyler than Jerry Garcia today. In other words, the Fed Chair told investors hoping for a rate cut, “Dream ooowahn!”

Powell said he needs more evidence that inflation is headed for the Fed’s 2% target before the central bank can start cutting rates. Till then, I guess us borrowers dealing with decades-high interest rates will just keep “Truckin’”.

Today’s Price Action:

$SPY: -1.61%
$QQQ: -1.96%
$DIA: -.81%

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TODAY’S MOST VOLATILE STOCKS

ONE TOP MOVER

Why $NYCB’s Stock Got Crushed Today

Briefly: It has been almost a year since the regional bank crisis… but did we really have to celebrate its anniversary like this?

So Basically: New York Community Bancorp reported worse-than-expected earnings, largely impacted by a bad loan in the commercial real estate sector. The bank also cut its dividend, spooking investors.

So Then: Its share price proceeded to drop 35%, reigniting fears that regional banks aren’t in great shape financially. Citi analyst Keith Horowitz said that $NYCB’s report was worse than even the “most bearish outlook.”

So What? The surprise earnings miss weighed on other regional banking stocks. The $KRE, an ETF that tracks regional banks, had its worst day of the year, with other banks like Comerica trading down more than 4% on the day.

What Next: Read the full breakdown here.

PRESENTED BY GROUNDFLOOR

Is Fractional Real Estate Investing The Future Of Gen Z Portfolios?

At 20% of the U.S. population, Generation Z is beginning to reshape the world of finance, shifting away from traditional investments and toward alternatives like real estate, artwork and cryptocurrencies. 

This shift is primarily driven by their financial realities: living paycheck-to-paycheck and seeking financial independence rather than more traditional markers of wealth. 

Groundfloor is tapping into this trend by offering fractional real estate investments, aligning with Gen Z's preference for accessible, technology-driven options.

For more insights into Groundfloor’s role in advancing alternative investments, visit their website. Benzinga readers earn a free $50 credit.

FIVE MOVERS

Phunware and $DWAC shares traded higher today as traders flock to the Trump-linked stocks amid weak approval ratings for President Biden.

Silgan Holdings shares took off today, trading up more than 5% after the consumer goods packaging company reported strong earnings.

ADP earnings are like clockwork. The payroll company reported its 26th straight EPS beat, and the stock traded higher.

Plug Power stock got a jolt of energy today, trading up nearly 20% following an analyst upgrade and price target raise.

Inogen stock got a nice bounce today after the med-tech company got a shout-out from Citron Research.

ONE TRADE IDEA FOR TOMORROW

AMD CEO Highlights 'Huge' AI Opportunity: 'It's Going To Change Everything We Do'

Briefly: Despite investors’ bearish reaction to its latest earnings, AMD and CEO Lisa Su are bullish on the company’s AI opportunity.

What Happened: AMD reported financial numbers in line with Street estimates but offered a lower first-quarter revenue projection than expected.

But Still: Su remains loud and proud about AMD’s place in the AI market. “High-performance computing is driving everything we do,” she said today, adding the chipmaker sees a $400 billion total addressable market in 2027.

Quoted: “Every single person’s life is going to be touched by AI, so yeah, I feel like this is a huge market opportunity,” Su stressed, noting, “With such a large market, you’re going to need a lot of different solutions.”

Translated: In other words, one of NVIDIA’s chief competitors thinks there’s room for more than one blue-chip-maker on the Street. Go figure.

What Next: Check out more on AMD’s outlook here.

PRESENTED BY GROUNDFLOOR

Is Fractional Real Estate Investing The Future Of Gen Z Portfolios?

At 20% of the U.S. population, Generation Z is beginning to reshape the world of finance, shifting away from traditional investments and toward alternatives like real estate, artwork and cryptocurrencies. 

This shift is primarily driven by their financial realities: living paycheck-to-paycheck and seeking financial independence rather than more traditional markers of wealth. 

Groundfloor is tapping into this trend by offering fractional real estate investments, aligning with Gen Z's preference for accessible, technology-driven options.

For more insights into Groundfloor’s role in advancing alternative investments, visit their website. Benzinga readers earn a free $50 credit.