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BlackRock 2037 Mun - Government Trades

BlackRock 2037 Mun

BlackRock 2037 Mun Tgt is a non-diversified, closed-end management investment company. The Trust's investment objective is to provide current income that is exempt from regular federal income tax. The Trust invests in investment grade quality securities or securities that are unrated but judged to be of comparable quality by the investment adviser.

BlackRock 2037 Municipal Target Term Trust Common Shares of Beneficial Interest

BlackRock 2037 Mun Tgt

Biomind Labs Inc

BIMINI CAPITAL MGMT INC A by Bimini Capital Management, Inc.

Bimini Capital Management Inc

BITMINE IMMERSIN TECH INC by BitMine Immersion Technologies Inc.

BitMine Immersion Technologies Inc

Jefferies analyst Andrew Tsai initiates coverage on Rocket Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCKT#NASDAQ">RCKT</a>) with a Buy rating and announces Price Target of $29.

News

Price Target

Initiation

Analyst Ratings

RCKT

Jefferies Initiates Coverage On Rocket Pharmaceuticals with Buy Rating, Announces Price Target of $29

U.S. stock futures climbed on Wednesday in premarket hours as Wall Street awaits the Federal Reserve&#8217;s final interest rate decision for 2024 and its monetary policy forecasts for 2025.
On Tuesday, the Dow Jones index fell for the <a href="https://www.benzinga.com/news/earnings/24/12/42546507/dow-records-longest-losing-streak-since-1978-nvidia-declines-fear-greed-index-in-neutral-zone">ninth session in a row</a> to record its longest losing streak since 1978.
The 10-year and two-year Treasury notes yielded 4.40% and 4.25%, respectively. The Federal Open Market Committee will announce its decision later in the day after a two-day meeting.
It is widely expected to announce another interest rate reduction at the conclusion of their meeting on Wednesday. Expectations of a 25 basis point rate cut rose to 95.4%, from 58.7% a month ago, according <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">to</a> CME Group&#8217;s FedWatch tool.
If the Fed cuts rates, it would be the third consecutive cut, bringing the federal funds rate down from its current level of 4.50% to 4.75%. Following the meeting, Chairman Jerome Powell&#8217;s remarks will be closely scrutinized by market participants.
Investors will receive another critical economic data point on Friday with the release of the November personal consumption expenditures (PCE) inflation index. This release follows other inflation indicators that suggest price increases accelerated in November.
Prior to that, GDP revisions on Thursday will reveal whether the economy maintained the previously estimated 2.8% growth rate for the third quarter.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>0.24%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.28%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.24%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.49%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Wednesday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was up 0.25% to $605.80 and the Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.24% to $537.09, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Cues From The Last Session
The <a href="https://www.benzinga.com/news/earnings/24/12/42546507/dow-records-longest-losing-streak-since-1978-nvidia-declines-fear-greed-index-in-neutral-zone">Dow Jones Industrial Average </a>extended its losing streak to nine consecutive sessions on Tuesday, its longest downturn since 1978. This negative trend weighed on the broader U.S. stock market.
While Tesla shares rallied after a positive analyst upgrade, Nvidia experienced a slight decline.
On the economic front, U.S. retail sales exceeded expectations in November, suggesting increased consumer spending. However, industrial production contracted, signaling a slowdown in manufacturing activity.
The S&amp;P 500 saw a broad-based decline, with industrials, energy, and financials leading the losses. Consumer discretionary stocks, on the other hand, bucked the trend and closed higher.
At the close of trading, the Dow Jones Industrial Average had fallen by approximately 268 points to 43,449.90. The S&amp;P 500 and Nasdaq Composite also ended the day lower, declining by 0.39% and 0.32%, respectively.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.32%</td>
<td>20,109.06</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.39%</td>
<td>6,050.61</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.61%</td>
<td>43,449.90</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-1.18%</td>
<td>2,334.08</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts
The Dow Jones Industrial Average index last saw a nine-day fall for the first time since February 1978, according to FactSet data. However, the index has seen steeper crashes in a single day as compared to the cumulative erosion it has witnessed over these nine days.
Dow Jones has fallen nearly 3.47% to 43,449.90 points over the last nine days since Dec. 4, when it was at 45,014.04 points.
&#8220;Since 1900, I see 267 times it lost more than 3.47% in a single day,&#8221; said Ryan Detrick, chief market strategist at Carson Research.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The Dow is down 3.47% the past 9 days (and lower all 9 of them). Since 1900, I see 267 times it lost more than 3.47% in a single day.
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1869205905780388184?ref_src=twsrc%5Etfw">December 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
According to BlackRock, the global economy is undergoing a transformation that could keep shifting the long-term economic trend. They suggest that investors should shift to distinct drivers of risk and return.
&#8220;That creates a wide range of potential outcomes and a need to use scenarios to guide portfolio construction, we think. Government bonds have become a less reliable cushion against risk asset selloffs in this new regime. So investors should consider new diversifiers like gold and bitcoin – not to replace bonds, but to get exposure to distinct drivers of risk and return.&#8221;
&#8220;We see the AI buildout and adoption creating opportunities across sectors,&#8221; BlackRock&#8217;s note added.
&#8220;Overall, with so much uncertainty around tariffs and inflation, bond market volatility is unlikely to fade anytime soon,&#8221; said JPMorgan in their note.
&#8220;The week's economic data releases appeared to be enough for markets to solidify expectations for a rate cut at the upcoming Federal Reserve meeting,&#8221; said T Rowe Price in their weekly note.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures" target="_blank" rel="noreferrer noopener">How To Trade Futures</a>
Upcoming Economic Data
Important data is slated to be released this week that will help investors determine the future course of action.
<ul>
<li>On Wednesday, housing starts, and building permit data for November will be announced at 8:30 a.m., ET.</li>
<li>The FOMC&#8217;s interest rate decision will be announced at 2:00 p.m., ET, and the Fed Chair Jerome Powell&#8217;s press conference will begin at 2:30 p.m., ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>Parazero Technologies Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRZO#NASDAQ">PRZO</a>) was up 71.24% in premarket trading after it regained Nasdaq compliance.</li>
<li>Nukkleus Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUKK#NASDAQ">NUKK</a>) gained 45.37% after the company announced it acquired a 51% controlling stake in Star 26 Capital.</li>
<li>Corvus Pharmaceuticals Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRVS#NASDAQ">CRVS</a>) rose 17.73% in premarket after it said that it would report interim data from its Phase 1 clinical trial evaluating Soquelitinib in patients with moderate to severe atopic dermatitis, on Dec. 18.</li>
<li>Applied DNA Sciences, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APDN#NASDAQ">APDN</a>) fell 13.04% in pre-market trading after reporting weak quarterly sales.</li>
<li>Quantum Computing Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QUBT#NASDAQ">QUBT</a>) was up 13.28% after it received a NASA contract doe Goddard Space Flight Center to use its entropy quantum optimization machine to help the space agency&#8217;s imaging.</li>
<li>Investors are awaiting earnings results from General Mills, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>), Jabil Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>, )) and Micron Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) today.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures were lower in the early New York session by 0.03% to hover around $70.08 per barrel.
The gold spot index rose by 0.08% to $2,664.21 per ounce. The dollar index was up 0.04% to 106.997 level.
Asian markets were mixed on Wednesday, as Hong Kong&#8217;s Hang Seng, China&#8217;s CSI 300, and South Korea&#8217;s Kospi index advanced. Whereas, Japan&#8217;s Nikkei 225, India&#8217;s S&amp;P BSE Sensex, and Australia&#8217;s ASX 200 index declined. Most European markets advanced.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/market-summary/24/12/42548385/fund-managers-increase-allocation-to-banking-and-insurance-stocks-in-december-here-are-the-best-performing-financial-stocks-in-2024">Fund Managers Increase Allocation To Banking And Insurance Stocks In December: Here Are The Best Performing Financial Stocks In 2024</a></li>
</ul>
Photo courtesy: Wikimedia

Equities

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Economics

Federal Reserve

Pre-Market Outlook

Markets

Trading Ideas

APDN

CRVS

NUKK

PRZO

QUBT

US Stocks To Open Higher As Rate Cut Expectations Surge: All Eyes On Dow Jones To Break Its 9-Day Losing Streak

HC Wainwright &amp; Co. analyst Swayampakula Ramakanth maintains electroCore (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ECOR#NASDAQ">ECOR</a>) with a Buy and raises the price target from $22 to $25.

ECOR

HC Wainwright & Co. Maintains Buy on electroCore, Raises Price Target to $25

Jefferies analyst Philip Ng downgrades Pactiv Evergreen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTVE#NASDAQ">PTVE</a>) from Buy to Hold and raises the price target from $15 to $18.

Downgrades

PTVE

Jefferies Downgrades Pactiv Evergreen to Hold, Raises Price Target to $18

Needham analyst Tom Nikic reiterates Foot Locker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FL#NYSE">FL</a>) with a Buy and maintains $25 price target.

Reiteration

Needham Reiterates Buy on Foot Locker, Maintains $25 Price Target

Jefferies analyst Philip Ng upgrades Packaging Corp of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKG#NYSE">PKG</a>) from Hold to Buy and raises the price target from $215 to $280.

Upgrades

Jefferies Upgrades Packaging Corp of America to Buy, Raises Price Target to $280

HC Wainwright &amp; Co. analyst Mitchell Kapoor reiterates Halozyme Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HALO#NASDAQ">HALO</a>) with a Buy and maintains $68 price target.

HALO

HC Wainwright & Co. Reiterates Buy on Halozyme Therapeutics, Maintains $68 Price Target

Jefferies analyst Mark Wilson reinstates Kosmos Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KOS#NYSE">KOS</a>) with a Buy and announces $5.6 price target.

Jefferies Reinstates Buy on Kosmos Energy, Announces $5.6 Price Target

HC Wainwright &amp; Co. analyst Heiko Ihle reiterates Endeavour Silver (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXK#NYSE">EXK</a>) with a Buy and maintains $7.25 price target.

HC Wainwright & Co. Reiterates Buy on Endeavour Silver, Maintains $7.25 Price Target

FDA Clears Gan & Lee's Investigational New Drug Application To Conduct Phase 2 Head-To-Head Trial Of Bi-Weekly Bofanglutide, For Chronic Weight Management Indication Against Eli Lilly's Tirzepatide

DA Davidson analyst Lucky Schreiner initiates coverage on Box (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) with a Buy rating and announces Price Target of $45.

DA Davidson Initiates Coverage On Box with Buy Rating, Announces Price Target of $45

HC Wainwright &amp; Co. analyst Scott Buck reiterates RCI Hospitality Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RICK#NASDAQ">RICK</a>) with a Buy and maintains $98 price target.

RICK

HC Wainwright & Co. Reiterates Buy on RCI Hospitality Hldgs, Maintains $98 Price Target

The claim is brought on behalf of all women who worked at BHP's Australian workplaces at any time during the period 12&nbsp;November 2003 to 11&nbsp;March 2024 who were impacted by the alleged conduct.
The proceeding is at a preliminary stage and the amount of damages sought is unspecified.

Legal

BHP Says Served With A Representative Class Action Proceeding Filed In Federal Court Of Australia Regarding Allegations Of Sexual Harassment And Sex Discrimination - Filing

Goldman Sachs analyst George Tong upgrades MSCI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSCI#NYSE">MSCI</a>) from Neutral to Buy and raises the price target from $617 to $723.

MSCI

Goldman Sachs Upgrades MSCI to Buy, Raises Price Target to $723

HC Wainwright &amp; Co. analyst Amit Dayal reiterates Joby Aviation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JOBY#NYSE">JOBY</a>) with a Buy and maintains $9 price target.

JOBY

HC Wainwright & Co. Reiterates Buy on Joby Aviation, Maintains $9 Price Target

"As announced in March and August of this year, the Company, Nissan and MMC combine the strengths of each company and are considering various possibilities for future collaboration, but no decisions have been made."
"If there are any updates, the Company will inform all stakeholders at the appropriate time," the company said.

NSANY

Honda Says Media Reports That Company, Nissan And Mitsubishi Motors Will Begin Discussions Of Business Integration Are Not Based On Company Announcement

Chardan Capital analyst Geulah Livshits maintains Tenaya Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TNYA#NASDAQ">TNYA</a>) with a Buy and maintains $18 price target.

TNYA

Chardan Capital Maintains Buy on Tenaya Therapeutics, Maintains $18 Price Target

BMO Capital analyst Ari Klein downgrades SBA Comms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBAC#NASDAQ">SBAC</a>) from Outperform to Market Perform and lowers the price target from $260 to $230.

SBAC

BMO Capital Downgrades SBA Comms to Market Perform, Lowers Price Target to $230

OrganiGram Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OGI#NASDAQ">OGI</a>) reported quarterly sales of $44.70 million which beat the analyst consensus estimate of $42.98 million by 3.99 percent. This is a 21.80 percent increase over sales of $36.70 million the same period last year.

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