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The Funds portfolio manager seeks to achieve the Funds investment objective of capital appreciation by investing in exchange-traded funds that are registered under the Investment Company Act of 1940, as amended in the 1940 Act and not affiliated with the Fund that invest in equity securities of any market capitalization of issuers from a number of countries throughout the world, including emerging market countries. In addition to its indirect investments, the Fund may also invest directly in individual large cap equities and fixed income securities, as well as put and call options on index ETFs, sector ETFs, individual equities, and cash and cash equivalents as part of its risk management strategy. The Fund is considered diversified under the 1940 Act.

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Adaptive Alpha Opportunities ETF

Adaptive Investments - CIO Of Innovative Fund Reveals His Expectations For 2023 At Benzinga’s ETF Unlocked

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AMAX

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Benzinga recently hosted its virtual event, ETF Unlocked, bringing together important thought leaders in the space to share their expertise and discuss current and future trends.

Adaptive Investments - CIO Of Innovative Fund Reveals His Expectations For 2023 At Benzinga&#39;s ETF Unlocked

The ETF Universe Is Deep And Diverse, And Opportunity Is Everywhere – A Look At Some Of The Most Interesting Niche Ideas Out There

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The biggest development in capital markets over the course of the last decade has been the explosion of indexing and passive and active investing through ETFs.

Alphabet Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) search engine arm Google and aerospace leader Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) have each pledged a donation of $1 million to the inaugural committee of President-elect Trump. This move aligns them with other prominent corporations in supporting the forthcoming inauguration event on Jan. 20.
What Happened: Both Google and Boeing validated their respective $1 million donations to the inaugural committee, <a href="https://thehill.com/homenews/administration/5077817-google-boeing-donate-trump-inauguration/">reported</a> The Hill. 
Karan Bhatia, Google's global head of government affairs and public policy, expressed, &#8220;Google is pleased to support the 2025 inauguration, with a livestream on YouTube and a direct link on our homepage. We're also donating to the inaugural committee.&#8221;
Boeing also confirmed its contribution, stating, &#8220;We&nbsp;are pleased to continue Boeing's&nbsp;bipartisan tradition of supporting U.S.&nbsp;Presidential Inaugural Committees.&#8221; The company has a history of backing past presidential inaugural committees.
Other corporations, such as Meta, Amazon, and Uber, have also contributed to Trump&#8217;s inaugural fund. Toyota and Ford have each donated $1 million. Several top executives, including Google&#8217;s Sundar Pichai and Amazon&#8217;s Jeff Bezos, have met with the President-elect at his Florida residence, Mar-a-Lago.
These meetings and contributions suggest a shift among some corporations aiming to establish a stronger relationship with the incoming President as he prepares to take office later this month.
See Also: <a href="https://www.benzinga.com/markets/cannabis/25/01/42901026/jimmy-carters-funeral-5-living-presidents-attend-family-colleagues-share-warm-humorous-stories">Jimmy Carter&#8217;s Funeral: 5 Living Presidents Attend; Family, Colleagues Share Warm, Humorous Stories</a>
Why It Matters: This recent wave of corporate support for the incoming administration is not without precedent. As reported by Benzinga in December, Amazon&#8217;s Bezos <a href="https://www.benzinga.com/tech/24/12/42479253/jeff-bezos-amazon-pledges-1-million-to-trumps-inaugural-event-following-in-the-footsteps-of-mark-zuckerberg-and-meta">pledged $1 million</a> to the inaugural event, following Meta&#8217;s similar contribution. 
Additionally, <a href="https://www.benzinga.com/news/management/24/12/42485193/sam-altman-to-donate-1m-to-trumps-inauguration-fund-following-zuckerberg-bezos-eager-to-support">Sam Altman</a>, CEO of OpenAI, announced his $1 million donation, citing support for Trump&#8217;s efforts to advance the U.S. in the artificial intelligence sector.
Earlier this month, Apple&#8217;s CEO Tim Cook also reportedly donated $1 million to the inauguration, viewing it as an <a href="https://www.benzinga.com/news/management/24/12/42485193/sam-altman-to-donate-1m-to-trumps-inauguration-fund-following-zuckerberg-bezos-eager-to-support">important American tradition</a> and a gesture of unity. These donations reflect a broader trend of tech and corporate leaders seeking to foster a positive relationship with the incoming administration.
Image via Shutterstock
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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Politics

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GOOGL

Google And Boeing Contribute $1M Each To Trump's Inauguration Fund: YouTube To Livestream Event

Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Alibaba Group Holdings Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) are two of the biggest names in e-commerce. While they may seem similar, their approaches, business models, and strategies are quite different.
What Happened: In 2017, during an interview with Andrew Ross Sorkin at Davos, Jack Ma explained the core difference between Amazon and Alibaba.
"Amazon is more like an empire. Everything they should control themselves, by themselves," Ma said.
Alibaba's "philosophy is to empower others to sell, empower others to service, make sure the other people are more powerful than us."
See Also: <a href="https://www.benzinga.com/markets/equities/25/01/42900858/apple-announced-iphone-18-years-ago-today-changing-the-smartphone-industry-forever-heres-how-much-youd-have-now-if-you-invested-1000-back-then">Apple Announced iPhone 18 Years Ago Today, Changing The Smartphone Industry Forever. Here&#8217;s How Much You&#8217;d Have Now If You Invested $1,000 Back Then</a>
Amazon's model is asset-heavy. The company controls the entire supply chain, from warehouses to logistics, even owning airplanes for faster deliveries.
Alibaba doesn't own warehouses or logistics companies. Instead, it relies on a network of partners—small businesses, service providers, and logistics firms.&nbsp;
"Using Internet technology, we can make every company become Amazon," Ma stated adding that Alibaba empowers its partners so they can compete with bigger players like Microsoft Corporation or IBM.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
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Why It's Important: Amazon makes most of its money through direct product sales, subscription services like Prime, and its cloud computing arm, Amazon Web Services.
Alibaba earns its revenue differently. It charges sellers for advertising, transaction fees, and additional services. Its model leans heavily on enabling transactions rather than direct sales.
Amazon currently has a market capitalization of $2.335 trillion, making it the world's fifth most valuable company in the world.
In the last quarter, Amazon's net sales <a href="https://www.benzinga.com/news/earnings/24/10/41664778/amazon-q3-earnings-highlights-revenue-beat-eps-beat-q4-guidance-new-kindles-significantly-outperfor">reached $158.9 billion</a>, marking an 11% year-over-year increase and surpassing the Street consensus estimate of $157.2 billion, according to <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent103124&amp;t=be2bearmibe3na1">Benzinga Pro</a>.
North American sales rose 9% to $95.5 billion, international sales grew 12% to $35.9 billion, and AWS saw a 19% increase, generating $27.5 billion in revenue.
Alibaba is worth $199.15 billion today. The e-commerce giant posted fiscal <a href="https://www.benzinga.com/news/earnings/24/11/42006281/alibaba-q2-earnings-revenue-beats-forecast-cloud-and-international-sales-shine-free-cash-flow-falls-amid-strategic-investments">second-quarter 2024</a> revenue of $33.70 billion, reflecting a 5% year-over-year increase and surpassing the analyst consensus estimate of $33.47 billion.
Revenue from the international commerce retail segment increased by 35% year-over-year, reaching $3.65 billion. Meanwhile, the Cloud Intelligence Group recorded a 7% year-over-year growth, bringing in $4.22 billion.
Image via Shutterstock
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42513402/apples-2025-bull-case-can-it-deliver-without-riding-the-ai-wave?itm_source=parsely-api">Apple's 2025 Bull Case: Can It Deliver Without Riding The AI Wave?</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

AMZN

BABA

Jack Ma Once Said Amazon Is More Like An Empire While Alibaba Empowers Others: How These Two Retail Giants Charted Very Different Paths

<a href="https://www.benzinga.com/news/24/11/41884428/warren-buffetts-166-billion-warning-to-wall-street-has-hit-a-fever-pitch-and-the-financial-world-cant-afford-to-ignore-it">Warren Buffett's</a> Berkshire Hathaway has turned heads once again. While the company ended the third quarter of 2024 with a jaw-dropping $320 billion in cash and short-term Treasury bills, signaling caution in an overheated market, recent SEC filings reveal something unexpected.&nbsp;
According to Barron's, Berkshire has invested $563 million into Occidental Petroleum, Sirius XM and VeriSign. Occidental Petroleum took the lion's share of the investment, with Berkshire spending $405 million to increase its stake to 28.2% or 264.2 million shares.&nbsp;
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<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Many are rushing to grab 4,000 of its pre-IPO shares for just $0.26/share!</a></li>
</ul>
This makes Berkshire one of Occidental's largest shareholders. According to the Energy Information Administration, despite U.S. crude oil production hitting an all-time high of 13.46 million barrels per day in October, Occidental's stock has been battered, down 24% this year.
Analysts have noted that such investments reflect confidence in the energy sector&#8217;s recovery. For instance, Ben Cook from Hennessy Energy Transition Investor suggests that supportive commodity prices and solid earnings in well-positioned companies indicate growth potential in the energy sector.&nbsp;
Sirius XM was next on the list. Berkshire added $113 million to its holdings, owning around 35% of the satellite radio and streaming company. Sirius XM has had its struggles, with subscriber numbers falling and fierce competition from digital streaming giants like Spotify.&nbsp;
See Also: <a href="https://www.benzinga.com/money/qnetic-2">This 12,000 RPM Spinning Battery With Over $100 Million In LOIs Could Be The Missing Link For Green Energy — Here&#8217;s Why Early Investors Are Flocking To Invest Before Funding Closes</a>
Yet the company has been investing in podcasts and restructuring its shares to appeal to investors. Analyst Jeff Wlodarczak from Pivotal Research commented on the situation, stating, &#8220;The stock is laughably cheap unless you think the business is falling apart.&#8221;
He believes that while Sirius XM doesn&#8217;t have much of a growth story, the business is durable and should generate ample free cash flow. Wlodarczak suggests that the company consider boosting the dividend by 50% in the fourth quarter.
In late December 2024, Berkshire acquired an additional 377,736 shares for approximately $73.95 million, bringing its total ownership to 13,193,349 or 13.7% of the outstanding shares.&nbsp;
Trending: It&#8217;s no wonder Jeff Bezos holds over $70 million in art — <a href="https://www.benzinga.com/money/masterworks">this alternative asset has outpaced the S&amp;P 500 since 1995, delivering an average annual return of 11.4%. Here&#8217;s how everyday investors are getting started.</a>
Simply Wall Street says VeriSign's stock has slipped 1.0% this year, partly due to regulatory woes. However, the company remains a powerhouse in domain name registry services, boasting <a href="https://www.benzinga.com/startups/24/12/42296660/from-a-friends-kitchen-to-1m-sales-i-congratulate-you-kevin-oleary-says-after-tasting-the-cookies">impressive profit margins – </a>88% gross and 71% operating in the last quarter of 2024.&nbsp;
Interestingly, these investments come at a time when the broader market has been soaring. The S&amp;P 500 hit 57 all-time highs in 2024, as reported by Motley Fool and briefly surpassed the 6,000 mark.
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<li>‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. <a href="https://www.benzinga.com/money/mode-mobile-2">You can invest today for just $0.26/share with a $1000 minimum.</a></li>
<li>If there was a new fund backed by Jeff Bezos offering a <a href="https://www.benzinga.com/money/arrived-private-credit-fund">7-9% target yield with monthly dividends would you invest in it</a>?</li>
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Startups

'Regulatory Woes? Subscriber Declines? Falling Oil Prices? We're Buying!' Buffett Bets Big On $563M Worth Of Underdogs

Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) began enforcing its global return-to-office policy on Monday, but there have been some exceptions reported. 
Several Amazon locations have delayed the return to office due to lack of space and workers in some European countries appear to have more flexible working arrangements than<a href="https://www.benzinga.com/news/24/10/41394784/amazon-aws-ceo-stands-firm-on-5-day-office-policy-opponents-can-head-for-the-exit-door-there-are-oth"> their U.S. counterparts. </a>
Lack Of Space: Amazon's mandatory five-day in-office policy announced last September went into effect this Monday. According to a Business Insider <a href="https://www.businessinsider.com/amazon-list-shows-locations-where-full-rto-plan-delayed-2025-1">report</a>, some office locations have maintained the company&#8217;s previous policy, which requires only three days a week in the office due to a lack of space.&nbsp;
Read More: <a href="https://www.benzinga.com/trading-ideas/movers/25/01/42900817/quantum-stocks-regetti-computing-ionq-d-wave-poised-to-open-higher-after-nvidia-ceo-comments-drove-huge-losses">Quantum Stocks Regetti Computing, IonQ, D-Wave Poised To Open Higher After Nvidia CEO Comments Drove Huge Losses</a>
According to documents viewed by Business Insider, some of the locations maintaining the three-day in-office policy include Miami, Brooklyn, Sacramento, Santa Clara and Austin in the U.S.; Hamburg and Munich in Germany, Beijing and Shenzhen in China and Bangalore, India. 
An Amazon spokesperson reportedly told Business Insider on Tuesday that buildings were ready for a majority of its employees on that day.
EU Exceptions: A separate Business Insider <a href="https://www.businessinsider.com/amazon-return-to-office-flexible-work-europe-us-rto-2025-1">report</a> stated internal documents revealed Amazon workers in the U.K. can apply to work from home for up to two days a week due to the country's flexible working regulations that went into effect last year.  
The outlet also reported employees in the Netherlands can still follow Amazon's previous guidance for three days in the office while it enters discussions with its works council, a group representing the employees. 
The policies in the U.K. and Netherlands contrast the five-day in-office policies in place for other Amazon employees. The company's "Flexible Work Arrangement&#8221; policy for the U.S. says Amazon &#8220;may grant exceptions for work arrangements&#8221; to staff &#8220;who are in good standing on a case-by-case basis.&#8221;
Amazon CEO Andy Jassy has promoted the in-office work policy as a way for employees to&nbsp; "invent, collaborate and be connected" and has suggested that those who oppose it may consider other employment options.
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</ul>
Photo: Shutterstock

Large Cap

Amazon Workers Return To Office With Some Exceptions Reported

Broadcom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) has outperformed the market over the past 5 years by 36.91% on an annualized basis producing an average annual return of 49.39%. Currently, Broadcom has a market capitalization of $1.06 trillion. 
Buying $100 In AVGO: If an investor had bought $100 of AVGO stock 5 years ago, it would be worth $761.37 today based on a price of $228.11 for AVGO at the time of writing.
<h3>Broadcom's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1736464509_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AVGO

$100 Invested In Broadcom 5 Years Ago Would Be Worth This Much Today

Taiwan Semiconductor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) has outperformed the market over the past 10 years by 14.32% on an annualized basis producing an average annual return of 25.68%. Currently, Taiwan Semiconductor has a market capitalization of $1.07 trillion. 
Buying $1000 In TSM: If an investor had bought $1000 of TSM stock 10 years ago, it would be worth $9,839.43 today based on a price of $206.28 for TSM at the time of writing.
<h3>Taiwan Semiconductor's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1736463635_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In This Stock 10 Years Ago Would Be Worth This Much Today

XRP Token (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) from Ripple has been one of the top gainers in the cryptocurrency sector and could be benefiting from the 2024 election won<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41778425/bitcoins-all-time-high-a-groundbreaking-milestone-and-strong-post-election-rally-coming-ex"> by Donald Trump.</a>
Ripple Labs executives have also met with Trump, prompting optimism for its future. Here's a look back at another president connected to Ripple and how much investors could have made buying the token at the time.
What Happened: Ripple CEO Brad Garlinghouse recently <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42865935/trump-meets-top-ripple-executives-ceo-says-strong-start-to-2025-as-technicals-favor-xrp-bulls">posted a photo</a> of himself and Ripple Chief Legal Officer Stuart Alderoty with Trump on social media platform X.
"Great dinner last night with Donald Trump &amp; Stuart Alderoty. Strong start to 2025!" Garlinghouse tweeted with the photo.
XRP, like many cryptocurrencies, has soared since Trump's win. While XRP has not returned to all-time highs set back in early 2018, the cryptocurrency is up over 300% in the last year.
Garlinghouse<a href="https://www.benzinga.com/25/01/42808375/ripple-ceo-celebrates-trumps-impact-on-crypto-industry-says-34th-of-companys-new-hires-us-based"> also recently disclosed</a> 75% of Ripple's job openings are based in the U.S., a strong contrast to where the company's hiring practices were over the past four years. The CEO also said that more U.S. deals had been signed in the last six weeks of 2024 than in the previous six months of the year.
Ripple executives sound optimistic about the new White House administration and are letting investors and holders know that Trump could be good for the company and its token, with Garlinghouse labeling the "Trump bull market" as helping turn the cryptocurrency market around.
"Say what you want, but the ‘Trump effect' is already making crypto great again — through his campaign, and in the administration's day 1 priorities."
While Trump becoming president could be good for cryptocurrencies and also help end Ripple's legal battles with the SEC, he's not the first former president to show support for Ripple.
It may be hard to imagine given the climate for cryptocurrency at the time, but in 2018, Ripple was able to book former President Bill Clinton as a keynote at its Swell Conference. Ripple <a href="https://www.businesswire.com/news/home/20180731005717/en/President-Bill-Clinton-Keynotes-Ripple%E2%80%99s-Swell-Conference-2018">announced </a>the speaker booking in July 2018 and Clinton's speech was given on Oct. 1, 2018.
Clinton talked about numerous topics during his keynote interview with a former advisor, while also highlighting the potential of blockchain, saying there were "staggering" possibilities for the technology, as <a href="https://techcrunch.com/2018/10/01/a-former-u-s-president-walks-into-a-blockchain-conference/">reported </a>by TechCrunch. 
"This whole blockchain deal has the potential it does only because it is applicable across national borders (and) income groups," Clinton said.
Clinton warned that the cryptocurrency industry should not get ahead of itself or financial and social inequalities could be magnified.
"The more the benefits materialize, the more you have to be careful about it."
Read Also:<a href="https://www.benzinga.com/24/12/42470335/if-you-invested-1000-in-xrp-token-when-ashton-kutcher-surprised-ellen-degeneres-with-4m-charity-donation-heres-how-much-youd-have-today"> If You Invested $1,000 In XRP Token When Ashton Kutcher Surprised Ellen DeGeneres With $4 Million Charity Donation, Here&#8217;s How Much You&#8217;d Have Today</a>
Investing $1,000 in XRP: Clinton's speech may have served as more of a validation for XRP and Ripple than anything, as the former president devoted a minimal amount of his keynote to talking about blockchain.
Still, getting a former president to come to a cryptocurrency conference in 2018 was a big deal and could have been a time for investors to recognize how early things were in terms of validation and public adoption.
XRP traded at a high of $0.6023 on Oct. 1, 2018, when Clinton gave his speech.
A $1,000 investment at the time could have purchased 1,660.30 XRP. Today, the $1,000 investment would be worth $3,785.48, based on a price of $2.28 at the time of writing. This represents a return of 278.5% since Clinton's speech.
For comparison, the same $1,000 invested in the SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the S&amp;P 500 stock index, would have returned less over the same time period.
The $1,000 investment in the SPY could have purchased 3.79 shares at the time, which would be worth $2,234.17 at the time of writing, up 123.7%.
While there is no guarantee that XRP will continue going up in 2025, a new White House administration considered to be pro-crypto could continue the momentum and build upon what one former president once said about the "staggering" possibilities of the blockchain.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/12/42303487/if-you-invested-1000-in-xrp-token-when-snoop-dogg-performed-at-ripple-community-event-at-consensus-2018-heres-how-much-youd-have-today">If You Invested $1,000 In XRP Token When Snoop Dogg Performed At Ripple Community Event At Consensus 2018, Here&#8217;s How Much You&#8217;d Have Today</a></li>
</ul>
Photo: Clinton: photo by Peter Serocki; both photos via Shutterstock

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$XRP

If You Invested $1,000 In XRP Token When Bill Clinton Spoke At Ripple Conference, Here's How Much You'd Have Today

Wall Street is gearing up for its most generous bonus season since the COVID-19 pandemic, with top traders and investment bankers poised to see double-digit increases as banks <a href="https://www.benzinga.com/markets">reap robust trading revenues.</a>
According to a Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-01-09/wall-street-bonuses-to-jump-by-double-digits-at-biggest-banks?srnd=homepage-canada&amp;sref=TBDibEcD">report</a> shared Thursday, major investment banks like Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), and Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) are planning to raise year-end bonuses by over 10% for many of their trading desks.
At JPMorgan, bonuses for investment bankers are expected to climb as much as 15%, while Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) may outpace its peers with even larger increases on select trading teams, according to people familiar with the matter.
<h1 class="wp-block-heading">What's Driving The Bonus Boom?</h1>
This year's hikes mark a sharp reversal from the restrained payouts seen over the past two years when inflation outpaced modest bonus adjustments.
Banks have capitalized on surging trading activity and deal flow in 2024, positioning the sector for one of its best years in history.
Data from New York-based pay consultancy Johnson Associates, cited by the <a href="https://www.ft.com/content/4efe2abb-a55a-4c56-a5b4-90b95e06b344">Financial Times</a> in November, forecasts a 2024 pay jump across most banking sectors. 
Increases could reach up to 35% in areas such as trading and investment banking, though real estate and retail banking are set to lag.
In 2024, every major asset class — with the notable exception of bonds — has delivered positive returns.
Gold, as tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) topped the ranking surging by 26.7%, followed by stocks — represented by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) — which rallied 23%.
<h1 class="wp-block-heading">A Decade of Record Bonuses</h1>
Wall Street has seen bonus payouts soar over the past decade. 
The average annual bonus hit $240,400 in 2021, more than doubling from $111,400 in 2011, according to APNews. 
This year, strong trading revenues are likely to provide the financial muscle for another sweet round of raises.
Read Next: • <a href="https://www.benzinga.com/25/01/42901087/bidens-final-chip-curbs-set-to-shake-ai-markets-globally-10-etfs-to-watch-with-high-stakes-on-nvidia-amd">Biden&#8217;s Final Chip Curbs Set To Shake AI Markets: 10 ETFs With High Stakes In Nvidia, AMD</a>

Photo: Shutterstock

Wall Street's Bonus Frenzy: Top Investment Bankers Eye Double-Digit Pay Boosts As Markets Flourish

Wheaton Precious Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WPM#NYSE">WPM</a>) has outperformed the market over the past 5 years by 3.35% on an annualized basis producing an average annual return of 15.83%. Currently, Wheaton Precious Metals has a market capitalization of $26.23 billion. 
Buying $1000 In WPM: If an investor had bought $1000 of WPM stock 5 years ago, it would be worth $2,105.24 today based on a price of $57.81 for WPM at the time of writing.
<h3>Wheaton Precious Metals's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1736460909_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $1000 Invested In Wheaton Precious Metals 5 Years Ago Would Be Worth Today

Maps of the U.S. and surrounding territories could look a whole lot different in the coming years if President-elect Donald Trump is serious about trying to rename the Gulf of Mexico as the Gulf of America and trying to obtain <a href="https://www.benzinga.com/news/global/25/01/42857403/trump-sends-don-jr-on-mission-to-get-the-deal-done-and-make-greenland-part-of-our-nation">Greenland and Canada. </a>
Canada isn't ready to become an American state anytime soon and one official has his own suggestion to change the map.
What Happened: Back in December, Trump told Canadian Prime Minister Justin Trudeau that if Canada was unhappy with tariffs, the country <a href="https://www.benzinga.com/news/global/24/12/42300450/trump-told-trudeau-canada-could-avoid-tariffs-by-becoming-51st-state-a-look-at-sectors-trade-war-could-impact">could become the 51st state.</a>
Fast forward to 2025 and Trump has continued to push for plans to make Canada the 51st state of the U.S. and even said he <a href="https://www.benzinga.com/news/events/25/01/42860583/trump-floats-canada-as-51st-us-state-says-hes-ready-to-use-economic-force-to-achieve-it">would be willing</a> to use "economic force" to do so in a recent speech.
Canadian officials haven't taken kindly to the comments, whether they are jokes or not.
Ontario Premier Doug Ford suggested that instead of America getting Canada, the country to the north could offer to purchase two American states, as <a href="https://nypost.com/2025/01/07/us-news/state-of-eh-canadian-pol-doug-ford-counters-trump-and-offers-to-buy-two-american-states/">reported </a>by the New York Post.
"To the president, I'll make him a counteroffer. How about if we buy Alaska? And we'll throw in Minnesota and Minneapolis at the same time? You know, it's not realistic," Ford said.
Ford said he believes Trump is joking, but he takes the notion of Canada becoming a state seriously.
"He may be joking, but under my watch, that will never, ever happen."
Trudeau, who recently announced he <a href="https://www.benzinga.com/25/01/42823979/canadas-pm-justin-trudeau-steps-down-amid-internal-conflict-and-tension-over-trump-tariffs">is stepping down </a>as Canada's leader, also took exception to Trump's latest comments.
"There isn't a snowball's chance in hell that Canada would become part of the United States. Workers and communities in both our countries benefit from being each other's biggest trading and security partner," Trudeau <a href="https://x.com/JustinTrudeau/status/1876712025725796712">tweeted</a>.
Trudeau's tweet generated a response from billionaire and Trump ally Elon Musk.
"Girl, you're not the governor of Canada anymore, so doesn't matter what you say," Musk tweeted.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent010925">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: This isn't the first time Ford has spoken out about comments Trump has made since he won the 2024 presidential election.
Ford threatened to hurt Americans with energy and beer if Trump's 25% tariffs on Canadian exports go through.
"It would cut off the lights to a million and a half Americans. If they come at us, we have to stand up for Canadians, we have to stand up for Ontarians," Ford said.
While America imports items in the energy, beer and automotive sectors, Trump has said the country doesn't need its trading partner to the north.
"We don't need anything they have. So why are we losing $200 billion a year to protect Canada," Trump recently said.
While the changing of states or territories is unlikely to happen, the threat of tariffs on Canada by Trump could start a trade war with one of America's largest partners. The situation continues to develop ahead of Trump's Jan. 20 inauguration.
EWC Price Action: The iShares MSCI Canada ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWC#NYSE">EWC</a>), which is one of the largest Canadian stock ETFs, has fallen 5% over the last month. The top industries <a href="https://www.ishares.com/us/products/239615/ishares-msci-canada-etf">held </a>in the ETF are financials (37.3%), energy (18.0%), industrials (11.5%), information technology (10.8%) and materials (10.4%).
Read Next: 
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<li><a href="https://www.benzinga.com/news/global/24/11/42220682/trump-tariffs-on-mexico-could-affect-beer-why-your-modelo-corona-could-cost-more-next-year">Trump Tariffs On Mexico Could Affect Beer: Why Your Modelo, Corona Could Cost More Next Year</a></li>
</ul>
Photo: Shutterstock

Government

Global

Canadian Official Claps Back At Trump's 51st State Comments, Offers To Buy These Two American States

Johnson Controls Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JCI#NYSE">JCI</a>) has outperformed the market over the past 15 years by 1.02% on an annualized basis producing an average annual return of 12.62%. Currently, Johnson Controls Intl has a market capitalization of $53.00 billion. 
Buying $100 In JCI: If an investor had bought $100 of JCI stock 15 years ago, it would be worth $583.89 today based on a price of $80.04 for JCI at the time of writing.
<h3>Johnson Controls Intl's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1736459124_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $100 Invested In Johnson Controls Intl 15 Years Ago Would Be Worth Today

Betting markets see December&#8217;s nonfarm payrolls coming in much higher than Wall Street economists expect, creating a stark divide between traders betting on strong labor data and forecasts predicting <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42881085/is-labor-market-cooling-or-raising-fed-concerns-what-to-watch-in-fridays-jobs-report">a slowdown in hiring.</a>
In a note shared Thursday, Goldman Sachs economist Ronnie Walker estimated that nonfarm payrolls grew by just 125,000 in December, significantly below the consensus forecasts. The Bureau of Labor Statistics will release the official jobs report Friday at 8:30 a.m. ET.
<h1 class="wp-block-heading">Betting Markets Signal Optimism</h1>
Data from CFTC-regulated betting platform Kalshi paints a far rosier picture of the December jobs market.
Implied odds derived from wagers suggest nonfarm payrolls could climb by 187,000 in December 2024. 
As of Thursday afternoon, traders betting on a jobs number above 150,000 had a 70% implied chance of winning, with an even 40% chance assigned to a print over 200,000. 
On the flip side, bets against payroll growth exceeding 150,000 offered a payout of $3 for every $1 wagered, while betting on a particularly weak figure — below 100,000 — provided an 11-to-1 payout.
This divergence highlights the potential for traders to profit handsomely if the labor report skews toward a weak payroll number. 
<iframe loading="lazy" style="border: 0;" src="https://kalshi.com/external-widgets/events/KXPAYROLLS-24DEC?color_scheme=light&amp;widget_size=large&amp;utm_campaign=benzingawidget" width="552px" height="400px"></iframe>
<h1 class="wp-block-heading">Wall Street Predicts A Slower Jobs Market</h1>
While betting markets exude confidence in the labor market, Wall Street economists are taking a more cautious stance. 
Trading Economics places the consensus estimate at 160,000 jobs, a marked slowdown from November&#8217;s robust gain of 227,000.
Goldman Sachs&#8217; projection of 125,000 jobs would represent a reduction from the three-month average of 174,000. 
Goldman also expects the unemployment rate to edge up to 4.3%, slightly above the consensus of 4.2%.
Walker attributed his conservative forecast to several factors, including &#8220;middling household employment growth,&#8221; &#8220;more challenging job-finding prospects&#8221; and &#8220;a rebound in the labor force participation rate.&#8221;
Goldman also anticipates average hourly earnings to rise just 0.3% month-over-month, leaving annual wage growth at 4.0%.
<h1 class="wp-block-heading">Seasonal Distortions At Play</h1>
Seasonal trends tied to the timing of Thanksgiving and Black Friday may play a significant role in December's payroll data. 
Walker highlighted that the late holiday shopping season this year likely weakened November&#8217;s retail hiring, with some of that hiring activity spilling into December.
Yet, Goldman expects these gains to be more than offset by slower job growth in other sectors. 
&#8220;We expect deceleration in job growth in non-retail sectors, particularly professional services and construction,&#8221; Walker said, adding that seasonal distortions could reduce payroll growth by as much as 50,000 jobs.
<h1 class="wp-block-heading">A Wager On Market Surprise</h1>
The chasm between betting odds and Wall Street forecasts suggests that traders are banking on the U.S. economy's resilience amid mounting headwinds.
For investors, a stronger-than-expected payroll report could reignite concerns about inflation, putting further upward pressure on Treasury yields and forcing the Federal Reserve to maintain a hawkish stance on interest rates. 
Conversely, a disappointing print could signal a slowdown in economic momentum, potentially easing pressure on the central bank.
Read Now: 
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</ul>
Photo: Shutterstock

Analyst Color

Macro Economic Events

Econ #s

Economics

Federal Reserve

Betting Markets Project Strong Jobs Growth, Goldman Sachs Forecasts Slowdown: How Can Traders Profit?

Biotech

APTO

Aptose Announces First AML Patients Dosed With Tuspetinib Triplet Frontline Therapy In Tuscany Trial

In this article, we'll delve into one of the most renowned and popular entry setups in trading: the Opening Range Breakout (ORB). This strategy was introduced in the 1990s by American trader Toby Crabel, and today, we&#8217;ll see how it applies to Europe&#8217;s leading stock index future, the DAX.
So, what exactly is the ORB? Crabel's concept is rooted in the belief that the initial phase of trading often provides the most critical insights into the market's direction for the rest of the day. Specifically, breaking above or below key price levels, like the high or low of the first hour, frequently signals a continuation of that trend until the market closes.
Let's break down the strategy: Our test will focus on the &#8220;classic&#8221; DAX session from 8:00 to 22:00 (exchange time). While the market session has expanded in recent years, this historical session still offers the most accurate backtesting conditions. Additionally, it's the most liquid session, making it ideal for a breakout strategy like the ORB, which targets significant price level breakouts. For optimal entry level precision, we'll use 15-minute bars.
<h2 class="wp-block-heading" id="block-cc0ff7a8-7e02-43e8-a72d-0d8ebd706dea">ORB Trading Rules and System Code for the DAX</h2>
After the first hour of trading, which defines our Opening Range, the session&#8217;s highs, lows, and entry points are calculated on the first available bar. This point, referred to as &#8220;checktime,&#8221; is set at 9:15 (since the first hour ends at 9:00, and with 15-minute bars, the first subsequent bar is timestamped 9:15).
Once the entry levels are calculated, the system is free to operate throughout the day until 15 minutes before the session ends (21:45). We&#8217;ve established a broad trading window (9:15-21:45) to initiate trades, which is fine-tuned using the inputs &#8220;MyStartTrade&#8221; and &#8220;MyEndTrade.&#8221;
For more details: The LONG entry level is calculated by adding the session range (high – low) to the opening of the 9:15 bar, multiplied by a factor initially set to 1 (MyMultL). Thus, a position is initiated when the price breaks above this level, known as MYLELevel:
MYLELevel= open + range &#x2A; MyMultL
Conversely, the SHORT entry level is determined by subtracting the session range (high – low) from the opening price, also multiplied by a factor initially set to 1 (MYMultS). A position is initiated when the price breaks below this level, known as MYSELevel:
MYSELevel=open – range &#x2A; MyMultS
The MultiCharts PowerLanguage code is as follows:
var: IsStartOfSession(true);&nbsp;
var: MyLELevel(0), MySELevel(0);
input: checktime(915);
Input: MyStartTrade(0915),MyEndTrade(2145);
Input: MyMultL(1), MyMultS(1);
Input: MyStop(5000);
if IsStartOfSession then begin
MyLELevel=0;
MySELevel=0;
end;
if time=checktime then begin
MyLELevel = open+(highd(0)-lowd(0))&#x2A;MyMultL;&nbsp;&nbsp;
MySELevel= open-(highd(0)-lowd(0))&#x2A;MyMultS;
end;
if time&gt;MyStartTrade and time&lt;MyEndTrade then begin
buy next bar at MyLELevel stop;
sellshort next bar at MySELevel stop;
end;&nbsp;
If MyStop &gt;&nbsp;0&nbsp;then setstoploss(MyStop);
setstopcontract;
setexitonclose;
Trades initiated are closed at the end of the day (22:00), unless the stop loss is triggered.
<figure class="wp-block-image" id="block-a421ca30-258b-4dfd-bab0-8c017fb6e0ef"><img decoding="async" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/17072033/fig-1-2-1-1024x631.png" alt="This image has an empty alt attribute; its file name is fig-1-2-1-1024x631.png" /></figure>
Figure 1 – Example of calculating MYLELevel and MYSELevel
<h2 class="wp-block-heading">Performance Report of the ORB Trading System on the DAX</h2>
Figures 2 and 3 display the trading system&#8217;s results without applying additional filters, covering the period from January 1, 2010, to October 31, 2023.
<figure class="wp-block-image" id="block-775c3119-8cf7-4829-98f5-7e3381872551"><img decoding="async" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/17072137/fig-2-1-1024x690.png" alt="This image has an empty alt attribute; its file name is fig-2-1-1024x690.png" /></figure>
Figure 2 – Detailed Equity Curve of the ORB Trading System on the DAX
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="957" height="609" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/29162050/image-15.png" alt="" class="wp-image-2826" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/29162050/image-15.png 957w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/29162050/image-15-300x191.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/29162050/image-15-768x489.png 768w" sizes="(max-width: 957px) 100vw, 957px" /></figure>
Figure 3 – Strategy Performance Report of the ORB Trading System on the DAX
It&#8217;s evident that the strategy, as currently applied, isn&#8217;t very effective, particularly on the short side, while the long side shows some potential for profitability. Remember, we applied this setup in a very rudimentary fashion, without any additional filters to refine trade selection.
<h2 class="wp-block-heading" id="block-5fde2747-90df-48ed-8b24-8db98c716a07">Optimizing the ORB Trading System on the DAX</h2>
Let's advance our study: Initially, we allowed the trading system to place orders across a broad timeframe (9:15-21:45), covering most of the session.
Now, let&#8217;s explore whether restricting it to specific hours of the day might enhance profitability.
We will optimize our &#8220;MyStartTrade&#8221; and &#8220;MyEndTrade&#8221; inputs.
<figure class="wp-block-image" id="block-8caea827-3433-4b3c-9807-aa6a338c8b68"><img decoding="async" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/17072259/image-11-1024x603.png" alt="This image has an empty alt attribute; its file name is image-11-1024x603.png" /></figure>
Figure 4 – Optimization of MyStartTrade and MyEndTrade
The results suggest that entering positions after 10:00 AM but before the afternoon significantly improves key metrics. Given the net profit and average trade results, the 10:00-16:00 window is optimal as it yields better drawdown outcomes.
Figures 5 and 6 present the Equity Curve and the Strategy Performance Report with a net profit exceeding 218,000 euros, yet two key areas remain for improvement: the drawdown is still too high, and the average trade (66.89 euros) isn&#8217;t sufficient for live trading due to real-time trading costs (slippage and commissions).
<figure class="wp-block-image" id="block-df00b224-588b-48ed-a7df-32894f34b9e3"><img decoding="async" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/17072401/image-12.png" alt="This image has an empty alt attribute; its file name is image-12.png" /></figure>
Figure 5 – Detailed Equity Curve of the ORB Trading System on the DAX after time window optimization
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="994" height="617" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/29162108/image-16.png" alt="" class="wp-image-2827" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/29162108/image-16.png 994w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/29162108/image-16-300x186.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/29162108/image-16-768x477.png 768w" sizes="(max-width: 994px) 100vw, 994px" /></figure>
Figure 6 – Strategy Performance Report of the ORB Trading System on the DAX after time window optimization
What other directions can we consider at this stage? How can we boost the average trade to make it acceptable? One option might be to adjust the multipliers (MyMultL and MyMultS) initially set to 1. Let&#8217;s run an optimization, setting a range from 0.3 to 2 with 0.1 increments for these inputs, and analyze the results.
<figure class="wp-block-image" id="block-e7727bd7-1731-48d9-bafb-4526ee0d13b0"><img decoding="async" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/17072442/image-2-10.png" alt="This image has an empty alt attribute; its file name is image-2-10.png" /></figure>
Figure 7 – Optimization of MyMultL for the ORB Trading System on the DAX
<figure class="wp-block-image" id="block-e7ab90a3-b8ee-4d2f-8540-877a8944c039"><img decoding="async" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/17072458/image-2-11.png" alt="This image has an empty alt attribute; its file name is image-2-11.png" /></figure>
Figure 8 – Optimization of MyMultS for the ORB Trading System on the DAX
For MyMultL (Figure 7), we select the parameter 0.4 as it notably improves net profit (from 218,000 to approximately 360,000 euros) and average trade (from 66.89 to 85 euros). Additionally, it&#8217;s within a stable range between values 0.3 and 0.5, which are also comparable in results.
For MyMultS (Figure 8), we choose the parameter 0.9 as it slightly enhances net profit and is similarly stable between 0.8 and 1.
It&#8217;s worth noting that for short trades, higher values for MyMultS are needed compared to MyMultL (0.9 vs. 0.4), suggesting more aggressive market movements are necessary in that direction to achieve gains, likely due to the general bullish bias of stock indices favoring long positions over shorts.
<figure class="wp-block-image" id="block-b8e13ec4-5053-4a28-b1f2-46e5fc10ba4e"><img decoding="async" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/17072525/image-2-12.png" alt="This image has an empty alt attribute; its file name is image-2-12.png" /></figure>
Figure 9 – Detailed Equity Curve of the ORB Trading System on the DAX after optimizing MyMultL and MyMultS
<figure class="wp-block-image" id="block-56b9b6a7-fbb6-4a6f-8bdb-0f665c0d631c"><img decoding="async" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/17072539/image-13.png" alt="This image has an empty alt attribute; its file name is image-13.png" /></figure>
Figure 10 – Strategy Performance Report after optimizing MyMultL and MyMultS
<h2 class="wp-block-heading" id="block-7c6f10a8-04d1-4a47-b085-d3c53c108431">Conclusions on the ORB Trading System for the DAX</h2>
As we wrap up this article, it&#8217;s fair to conclude that the Opening Range Breakout on the DAX future remains a valid pattern worthy of consideration today.
Is this the final version of the strategy? Definitely not. The strategy still needs further development to be ready for live trading. As highlighted, the average trade should ideally be at least 170-180 euros for the DAX to ensure profitability and cover real trading costs. Additionally, a solution to reduce the maximum drawdown to more manageable levels is needed. Various tools can achieve this, from adding filters to leveraging pattern libraries we use at the Unger Academy&#xAE; and more sophisticated risk management. Nonetheless, it&#8217;s a solid starting point. Now it's up to you, readers, to work on it.
Until next time, happy trading!
Andrea Unger

Eurozone

DAX Trading: Exploring an Opening Range Breakout Strategy – Code and Optimizations

Aflac (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AFL#NYSE">AFL</a>) has outperformed the market over the past 10 years by 2.3% on an annualized basis producing an average annual return of 13.66%. Currently, Aflac has a market capitalization of $57.66 billion. 
Buying $100 In AFL: If an investor had bought $100 of AFL stock 10 years ago, it would be worth $357.14 today based on a price of $103.57 for AFL at the time of writing.
<h3>Aflac's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1736456452_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Aflac Stock In The Last 10 Years

During the last three months, 37 analysts shared their evaluations of Walmart (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>), revealing diverse outlooks from bullish to bearish.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">11</td>
<td align="right">24</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">2</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">8</td>
<td align="right">15</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">1</td>
<td align="right">7</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $96.41, a high estimate of $115.00, and a low estimate of $85.00. This current average reflects an increase of 8.67% from the previous average price target of $88.72. 
<img src="https://www.benzinga.com/files/images/story/2025/1736456417_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive Walmart. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Seth Sigman</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$98.00</td>
<td>$90.00</td>
</tr>
<tr>
<td>Corey Tarlowe</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Buy</td>
<td>$111.00</td>
<td>$105.00</td>
</tr>
<tr>
<td>Ivan Feinseth</td>
<td>Tigress Financial</td>
<td>Raises</td>
<td>Buy</td>
<td>$115.00</td>
<td>$86.00</td>
</tr>
<tr>
<td>Bradley Thomas</td>
<td>Keybanc</td>
<td>Raises</td>
<td>Overweight</td>
<td>$100.00</td>
<td>$96.00</td>
</tr>
<tr>
<td>Mark Astrachan</td>
<td>Stifel</td>
<td>Raises</td>
<td>Hold</td>
<td>$94.00</td>
<td>$89.00</td>
</tr>
<tr>
<td>Greg Melich</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$96.00</td>
<td>$94.00</td>
</tr>
<tr>
<td>Seth Sigman</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$90.00</td>
<td>$78.00</td>
</tr>
<tr>
<td>Mark Astrachan</td>
<td>Stifel</td>
<td>Raises</td>
<td>Hold</td>
<td>$89.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Bill Kirk</td>
<td>Roth MKM</td>
<td>Raises</td>
<td>Buy</td>
<td>$97.00</td>
<td>$81.00</td>
</tr>
<tr>
<td>Simeon Gutman</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$100.00</td>
<td>$89.00</td>
</tr>
<tr>
<td>Robert Ohmes</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$105.00</td>
<td>$95.00</td>
</tr>
<tr>
<td>Scot Ciccarelli</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$98.00</td>
<td>$89.00</td>
</tr>
<tr>
<td>Edward Kelly</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$96.00</td>
<td>$90.00</td>
</tr>
<tr>
<td>Greg Melich</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$94.00</td>
<td>$89.00</td>
</tr>
<tr>
<td>Michael Lasser</td>
<td>UBS</td>
<td>Raises</td>
<td>Buy</td>
<td>$100.00</td>
<td>$92.00</td>
</tr>
<tr>
<td>Dean Rosenblum</td>
<td>Bernstein</td>
<td>Raises</td>
<td>Outperform</td>
<td>$102.00</td>
<td>$98.00</td>
</tr>
<tr>
<td>Steven Shemesh</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$96.00</td>
<td>$92.00</td>
</tr>
<tr>
<td>Robert Drbul</td>
<td>Guggenheim</td>
<td>Raises</td>
<td>Buy</td>
<td>$100.00</td>
<td>$90.00</td>
</tr>
<tr>
<td>Corey Tarlowe</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Buy</td>
<td>$105.00</td>
<td>$100.00</td>
</tr>
<tr>
<td>Oliver Chen</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Buy</td>
<td>$100.00</td>
<td>$90.00</td>
</tr>
<tr>
<td>Bradley Thomas</td>
<td>Keybanc</td>
<td>Raises</td>
<td>Overweight</td>
<td>$96.00</td>
<td>$88.00</td>
</tr>
<tr>
<td>Peter Benedict</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$100.00</td>
<td>$90.00</td>
</tr>
<tr>
<td>Joseph Feldman</td>
<td>Telsey Advisory Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$100.00</td>
<td>$92.00</td>
</tr>
<tr>
<td>Joseph Feldman</td>
<td>Telsey Advisory Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$100.00</td>
<td>$92.00</td>
</tr>
<tr>
<td>Peter Keith</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$93.00</td>
<td>$83.00</td>
</tr>
<tr>
<td>Kelly Bania</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$100.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>Corey Tarlowe</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Buy</td>
<td>$100.00</td>
<td>$90.00</td>
</tr>
<tr>
<td>Joseph Feldman</td>
<td>Telsey Advisory Group</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$92.00</td>
<td>$92.00</td>
</tr>
<tr>
<td>Simeon Gutman</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$89.00</td>
<td>$82.00</td>
</tr>
<tr>
<td>Bradley Thomas</td>
<td>Keybanc</td>
<td>Raises</td>
<td>Overweight</td>
<td>$88.00</td>
<td>$87.00</td>
</tr>
<tr>
<td>Edward Kelly</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$90.00</td>
<td>$88.00</td>
</tr>
<tr>
<td>Robert Drbul</td>
<td>Guggenheim</td>
<td>Raises</td>
<td>Buy</td>
<td>$90.00</td>
<td>$81.00</td>
</tr>
<tr>
<td>Bradley Thomas</td>
<td>Keybanc</td>
<td>Raises</td>
<td>Overweight</td>
<td>$87.00</td>
<td>$86.00</td>
</tr>
<tr>
<td>Greg Melich</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$85.00</td>
<td>$82.00</td>
</tr>
<tr>
<td>Dean Rosenblum</td>
<td>Bernstein</td>
<td>Announces</td>
<td>Outperform</td>
<td>$95.00</td>
<td>-</td>
</tr>
<tr>
<td>Rupesh Parikh</td>
<td>Oppenheimer</td>
<td>Raises</td>
<td>Outperform</td>
<td>$90.00</td>
<td>$81.00</td>
</tr>
<tr>
<td>Bradley Thomas</td>
<td>Keybanc</td>
<td>Raises</td>
<td>Overweight</td>
<td>$86.00</td>
<td>$82.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Walmart. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Walmart compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Walmart's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Walmart's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/WMT/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Walmart analyst ratings.</a>
<h2>Unveiling the Story Behind Walmart</h2>
Walmart serves as the preeminent retailer in the United States, with its strategy predicated on superior operating efficiency and offering the lowest priced goods to consumers to drive robust store traffic and product turnover. Walmart augmented its low-price business strategy by offering a convenient one-stop shopping destination with the opening of its first supercenter in 1988.Today, Walmart operates over 4,600 stores in the United States (5,200 including Sam's Club) and over 10,000 locations globally. Walmart generated over $440 billion in domestic namesake sales in fiscal 2024, with Sam's Club contributing another $86 billion to the company's top line. Internationally, Walmart generated $115 billion in sales. The retailer serves around 240 million customers globally each week.
<h3>Unraveling the Financial Story of Walmart</h3>
Market Capitalization: Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.
Revenue Growth: Walmart's remarkable performance in 3 months is evident. As of 31 October, 2024, the company achieved an impressive revenue growth rate of 5.46%. This signifies a substantial increase in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Consumer Staples sector.
Net Margin: Walmart's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of 2.7%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Walmart's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 5.31% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): Walmart's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 1.77%, the company showcases efficient use of assets and strong financial health.
Debt Management: Walmart's debt-to-equity ratio is below the industry average at 0.7, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>The Basics of Analyst Ratings</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

Beyond The Numbers: 37 Analysts Discuss Walmart Stock

Elon Musk, the world's richest man, could buy anything he wants, including professional sports teams. A new report, citing his father, suggests Musk is considering purchasing a soccer team, potentially turning his back on <a href="https://www.benzinga.com/news/small-cap/23/02/30824270/elon-musks-favorite-soccer-team-and-msgs-owned-nbanhl-teams-could-be-up-for-sale-two-public-sports">his childhood favorite.</a>
What Happened: New comments from Musk's father Errol Musk have the billionaire connected with interest in buying English Premier League team Liverpool, a rival to Musk's <a href="https://www.benzinga.com/news/23/02/30909752/wait-is-elon-musk-considering-a-manchester-united-bid-after-all">favorite childhood club</a> team Manchester United (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MANU#NYSE">MANU</a>).
"Oh yes, but that doesn't mean he's buying it," Errol Musk <a href="https://x.com/TimesRadio/status/1876644526720471230">said </a>in an interview with Times Radio. "He would like to, yes, obviously, anybody would want to. So would I."
The elder Musk declined to comment further, saying that the team would "raise the price," given news of the interest.
Errol Musk said the family has relatives in Liverpool and it is the birthplace of the billionaire's grandmother.
Fenway Sports Group, who owns Liverpool, has addressed the rumors with a comment on the matter.
"No truth to these rumors," a FSG spokesperson <a href="https://apnews.com/article/elon-musk-liverpool-father-ea5a8611e03d01f8ad619b655269379d">told </a>the Associated Press.
FSG bought Liverpool in 2010 for around $380 million and has turned the team into one of the best in the English Premier League and all of Europe. The team won its first English league title in 30 years in 2020 and won the Champions League in 2019.
Liverpool is currently first in the English Premier League standings with 46 points, ranking ahead of Arsenal with 40 points. Musk's childhood favorite team Manchester United ranks 13th with 23 points. Liverpool also leads the Champions League with six wins in six matches.
FSG sold a minority stake to Dynasty Equity, an investment firm, in 2023. The company said at the time that it would pursue investment partners if it was the right fit for Liverpool and the "financial resiliency and future growth" of the club. FSG also sold an 11% stake in the club to RedBird Capital Partners for $640 million in 2021.
Fenway Sports Group also owns the Boston Red Sox (MLB), Pittsburgh Penguins (NHL) a NASCAR racing team and other sports assets.
NBA star and billionaire LeBron James is a small owner of FSG, with a reported stake of more than 1% in the company. The stake came from converting<a href="https://www.benzinga.com/news/21/12/24392312/lebron-james-now-owns-part-of-the-pittsburgh-penguins"> his old 2% stake </a>in Liverpool acquired in 2011 for a stake in the larger company.
Are you buying when the CEOs of the Magnificent 7 are selling?
<ul>
<li>Stay in the know with our Insider Trades page — <a href="https://www.benzinga.com/sec/insider-trades/">see when leaders like Mark Zuckerberg, Elon Musk, and Jensen Huang are offloading their own shares.</a></li>
</ul>
Why It's Important: While FSG has said that Liverpool is not for sale, the famous phrase "money talks" could come into play.
Musk is the world's richest man, worth an estimated $426 billion by <a href="https://www.bloomberg.com/billionaires/?sref=TBDibEcD">Bloomberg</a>. Musk <a href="https://www.benzinga.com/news/management/25/01/42771258/worlds-top-10-richest-people-gained-more-wealth-in-2024-than-costco-and-nikes-combined-valuation-how-elon-musk-warren-buffett-and-others-fared">added $203 billion</a> to his wealth in 2024 thanks to soaring valuations for Tesla, SpaceX and xAI. The billionaire has so much money now that he could buy every MLB, NBA, NFL and NHL team based on reported team valuations, as <a href="https://www.benzinga.com/news/24/12/42620853/elon-musk-is-so-rich-he-could-buy-every-mlb-nba-nfl-nhl-team-and-still-have-cash-left-over">Benzinga previously reported.</a>
Musk joked about buying Manchester United in 2022, sending shares of the partially public EPL team higher.
"Also, I'm buying Manchester United, ur welcome," Musk <a href="https://x.com/elonmusk/status/1559691922725281800">tweeted </a>at the time.
Musk later clarified that he wasn't serious and wouldn't buy any sports teams, calling the rumor a "long-running joke on Twitter."
"Although, if it were any team, it would be Man U. They were my fav team as a kid."
While people's favorite teams can change, and sometimes athletes have to play against teams they idolized as kids, one of the big questions is whether Musk would buy a team that is one of the biggest rivals of his favorite childhood teams.
Manchester United and Liverpool are around 35 miles apart, and their matches are often labeled as "Northwest Derby."
Sportico <a href="https://www.sportico.com/feature/worlds-most-valuable-soccer-teams-football-club-1234721285/">valuations </a>list Manchester United as the most valuable soccer team in the world at $6.2 billion. Liverpool ranks fourth and second among EPL teams at $6.06 billion.
Musk paid $44 billion for Twitter and<a href="https://www.benzinga.com/general/entertainment/24/11/42195657/will-elon-musk-buy-msnbc-recent-news-parallels-twitter-acquisition-but-polymarket-shows-low-odds-of-a-deal"> joked about buying</a> media outlet MSNBC recently. The billionaire buying Liverpool would likely boost interest in the team and EPL, which could help out Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>), which has the U.S. media rights to EPL matches, and could also boost Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARAA#NASDAQ">PARAA</a>), which has the rights to Champions League matches in the U.S.
Owning a soccer team like Liverpool could add to Musk's wealth over time, as it has <a href="https://www.benzinga.com/general/sports/24/08/40607642/jeff-bezos-could-have-competition-if-he-wants-the-nfls-seattle-seahawks-private-equity-investments">for other billionaires.</a> The ownership could also see Musk looking to revive the idea of a Super League, combining the top teams across European soccer leagues, to increase revenue opportunities for the best teams, an idea that upset fans when proposed in 2021.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/23/08/33602864/want-to-invest-in-lionel-messis-mls-success-theres-a-new-way-to-get-a-stake-in-inter-miami">Want To Invest In Lionel Messi&#8217;s MLS Success? There&#8217;s A New Way To Get A Stake In Inter Miami</a></li>
</ul>
Photo: Shutterstock

Sports

CMCSA

MANU

PARA

PARAA

Elon Musk's Father Hints At Son's Interest In Liverpool, But Will Billionaire Bypass Manchester United For LeBron's Team?

Cryptocurrency markets are trading lower amid looming tensions of <a href="https://www.benzinga.com/25/01/42886101/investors-should-expect-no-rate-cuts-in-q1-2025-after-federal-reserves-december-minutes-release-strategist-says">reduced expectations of Federal Reserve interest rate cuts</a> and a potential <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42890745/us-government-granted-permission-to-liquidate-65-billion-in-bitcoin-seized-from-silk-road-case-report">massive BTC sell-off</a> from the U.S. government.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price&nbsp;&nbsp;&nbsp;</td>
<td>24-Hour Gains +/-</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td> $91,400</td>
<td>-2.7%</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td>
<td> $3,172</td>
<td>-3.2%</td>
</tr>
<tr>
<td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td>
<td> $182.4</td>
<td>-6.5%</td>
</tr>
<tr>
<td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td>
<td>&nbsp;$2.28</td>
<td>-1.4%</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>&nbsp;$0.3181</td>
<td>-6.3%</td>
</tr>
<tr>
<td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td>
<td> $0.00002088</td>
<td>-1%</td>
</tr>
</tbody>
</table>
</figure>
Notable Statistics:
<ul>
<li>IntoTheBlock data shows large transaction volume decreasing by 7.6% and daily active addresses remaining relatively flat. Transactions greater than $100,000 are up from 10,613 to 11,991 in a single day. Exchanges netflows are up by 5.5%.</li>
<li>Coinglass data reports 116,166 traders were liquidated in the past 24 hours for $347.45 million.</li>
</ul>
Notable Developments:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42892791/bhutans-special-administrative-region-announces-strategic-reserve-consisting-of-bitcoin-ethereum-bnb-coin-bhutan-is-open-to-other-cryptos-says-changpeng-cz-zhao">Bhutan&#8217;s Special Administrative Region Announces Strategic Reserve Consisting Of Bitcoin, Ethereum, BNB Coin: Bhutan Is Open To Other Cryptos, Says Changpeng &#8216;CZ&#8217; Zhao</a></li>
<li><a href="https://www.benzinga.com/25/01/42895703/bitcoin-etfs-turn-one-90-gains-volatility-trump-era-hopes-for-2025">Bitcoin ETFs&#8217; First Year Delivers Massive Returns As 2025 Brings Questions</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42894427/bitcoin-ethereum-etfs-see-742-million-in-outflows-supply-shock-unlikely-in-2025-report-shows">Bitcoin, Ethereum ETFs See $742 Million In Outflows, Supply Shock Unlikely In 2025, Report Shows</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42890745/us-government-silk-road-bitcoin-holdings-drop-to-0-amid-report-doj-approved-to-sell-6-5-billion-worth-of-crypto">US Government&#8217;s Silk Road Bitcoin Holdings Drop To 0 After DOJ Reportedly Approves Sale Of Crypto Worth $6.5 Billion (Updated)</a></li>
</ul>
Top Losers:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price&nbsp;&nbsp;&nbsp;</td>
<td>Gains +/-</td>
</tr>
<tr>
<td>SPX6900 (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">SPX</a>)</td>
<td>&nbsp;$1.05</td>
<td>-22.9%</td>
</tr>
<tr>
<td>Ai16z (CRYPTO: AI16Z)</td>
<td>&nbsp;$1.36</td>
<td>-21.3%</td>
</tr>
<tr>
<td>Hyperliquid (CRYPTO: HYPE)</td>
<td>&nbsp;$19.3</td>
<td>-17.4%</td>
</tr>
</tbody>
</table>
</figure>
Trader Notes: With Bitcoin prices dropping for the third consecutive day of the week, CryptoQuant Founder and CEO Ki Young Ju <a href="https://x.com/ki_young_ju/status/1877414305756282984">noted</a> that Bitcoin will stay in a bull cycle as long as capital flows in.
Another crypto trader, Rekt Capital, highlighted that Bitcoin has dropped to the lower end of its $91,000-$101,165 range. 
To prevent further decline and extend the current corrective phase, it needs to maintain support at the $91,000 range low.
<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"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> Bitcoin has dwindled to pretty much the very bottom of its $91000-$101165 range Needs to hold the $91k Range Low as support (blue) to avoid further downside and actually deepening this multi-week corrective period<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/Bn24aJuxtd">https://t.co/Bn24aJuxtd</a> <a href="https://t.co/doIFyA6qYU">pic.twitter.com/doIFyA6qYU</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1877415125872722347?ref_src=twsrc%5Etfw">January 9, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Daan Crypto Trades expects a slow start for Bitcoin, with a proper move possibly taking until the end of January. 
He is watching a triangle/pennant pattern to identify a potential breakout from the current consolidation.
While the outlook for Q1 remains generally positive, the beginning of the year is often choppy. 
Referring to last year&#8217;s price action, the trader notes that after topping in early January 2024, Bitcoin bottomed by the 23rd and surged in February and March, indicating how quickly sentiment and price can shift.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> Don&#39;t be surprised if it takes until the end of January to get a proper move going again. I&#39;m watching this triangle/pennant to determine a possible breakout from this consolidation. My belief is still that Q1 will generally end up being green. But a choppy end and start… <a href="https://t.co/YVntr0x8c2">pic.twitter.com/YVntr0x8c2</a>
&mdash; Daan Crypto Trades (@DaanCrypto) <a href="https://twitter.com/DaanCrypto/status/1877390767607656512?ref_src=twsrc%5Etfw">January 9, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42900509/social-media-sentiment-report-shows-only-one-out-of-bitcoin-xrp-dogecoin-is-bullish">Social Media Sentiment Report Shows Only One Out Of Bitcoin, XRP, Dogecoin Is Bullish</a></li>
</ul>
Image: Shutterstock

$BTC

$DOGE

$ETH

$SHIB

$SOL

$SPX

Bitcoin, Ethereum, XRP, Dogecoin Extend Losses: 'Proper Move' Possibly Only By The End Of January, Trader Warns

Jones Lang LaSalle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JLL#NYSE">JLL</a>) has outperformed the market over the past 20 years by 1.73% on an annualized basis producing an average annual return of 10.04%. Currently, Jones Lang LaSalle has a market capitalization of $11.76 billion. 
Buying $100 In JLL: If an investor had bought $100 of JLL stock 20 years ago, it would be worth $677.43 today based on a price of $247.94 for JLL at the time of writing.
<h3>Jones Lang LaSalle's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1736455525_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $100 In This Stock 20 Years Ago, You Would Have This Much Today

Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) has outperformed the market over the past 5 years by 3.97% on an annualized basis producing an average annual return of 16.44%. Currently, Commercial Metals has a market capitalization of $5.41 billion. 
Buying $1000 In CMC: If an investor had bought $1000 of CMC stock 5 years ago, it would be worth $2,116.10 today based on a price of $47.57 for CMC at the time of writing.
<h3>Commercial Metals's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1736454634_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Commercial Metals Stock In The Last 5 Years

AGOX: Sell This And Buy Treasuries

AGOX: Is This A 5 Star ETF?

Benzinga recently hosted its virtual event, ETF Unlocked, bringing together important thought leaders in the space to share their expertise and discuss current and future trends.

Scott Wetherington, CIO of <a href="https://www.adaptiveetfs.com/">Adaptive Investments</a>, participated in the event. Adaptive Investments offers 4 ETFs that are actively managed. The ETFs include the Adaptive Alpha Opportunities ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGOX#NYSE">AGOX</a>), RH Hedged Multi-Asset Income ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMAX#NYSE">AMAX</a>), RH Tactical Outlook ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RHTX#NYSE">RHTX</a>) and RH Tactical Rotation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RHRX#NYSE">RHRX</a>).&nbsp;

Mr Schoffstall, speaking of his fund&rsquo;s strategy, stated, &ldquo;[Precious Minerals] is a part of the market that&rsquo;s been really underappreciated in recent years, I think, and it&#39;s just starting to get its due&hellip;just the last year alone, in the critical minerals space, we&rsquo;ve seen about 1.1 trillion invested on a global scale.&rdquo;

Watch the full interview here:

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" frameborder="0" height="315" src="https://www.youtube.com/embed/0pOjoM1FtWM?start=2560" width="560"></iframe>

Featured photo by<a href="https://unsplash.com/@tprahm?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText"> Tyler Prahm</a> on<a href="https://unsplash.com/s/photos/etf?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText"> Unsplash</a>

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.

Adaptive Investments - CIO Of Innovative Fund Reveals His Expectations For 2023 At Benzinga's ETF Unlocked

The biggest development in capital markets over the course of the last decade has been the explosion of indexing and passive and active investing through ETFs. In many ways, the ETF Universe has become so significant that it has become the tail that often wags the dog &ndash; meaning ETF fund flows and re-balancing are frequently a driver of the entire market and price action in hundreds of major U.S. equities.&nbsp;

The space has become so deep &ndash; and in many ways complex &ndash; that it is difficult for retail investors to have a clear picture of the ever-changing landscape. For this reason, sticking to large, highly-liquid, well-known ETF issues is oftentimes the casual investor&rsquo;s best bet. With this being the case, however, there are bound to be opportunities and inefficiencies in smaller, more obscure funds.&nbsp;

What does this look like in a practical sense? First, many ETFs can be purchased at a discount to their net asset value. The theory behind this strategy is basically that you can sometimes buy a basket of assets that have a market value of $1.00 for $0.90 or even $0.80. These are very attractive opportunities and they occur quite often. It is not free money, however, as oftentimes discounts to NAV can persist for long periods of time due to a variety of factors.&nbsp;

Additional edges that investors can look to exploit in the ETF ecosystem include emerging, alpha-creating managers in the active space, niche strategies that have significant upside potential, concentrated portfolios and/or sector- or strategy-specific allocations that are likely to outperform, ETFs that run covered-call strategies to create income, among others. It is hard to understate the diversity of ETFs in 2023.

Let&rsquo;s take a look at some of the more niche-specific funds that are trading today. The first crop of funds is offered by Adaptive Investments and a number of the firm&rsquo;s ETFs stick out for two reasons &ndash; the portfolios are either entirely or mostly made up of other ETFs and a number of these vehicles have very attractive long-term performance records.&nbsp;

The Adaptive Alpha Opportunities ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGOX#NYSE">AGOX</a>) seeks capital appreciation, using ETFs and equities, and also may access fixed-income securities for diversification purposes. It is actively managed, with the goal of creating risk-adjusted alpha. The fund provides tremendous diversification - top current holdings include cash, the Invesco DB Agriculture ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DBA#NYSE">DBA</a>), the Technology Select Sector SPDR ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>), iShares MSCI EAFE ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFA#NYSE">EFA</a>), which holds international equities, the Invesco DB Commodity Index Tracking Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DBC#NYSE">DBC</a>) and many other popular liquid ETFs.&nbsp;

The ability to deploy capital in a tactical fashion and the fund&rsquo;s diversification have led to some solid returns over the last decade &ndash; just under 10%. Two other ETFs that certainly fit the niche and unique parameters of this article are from Roundhill Investments, which has a large portfolio of funds. The firm&rsquo;s two largest ETFs, however, are probably the most interesting.&nbsp;

The Roundhill Ball Metaverse ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/METV#NYSE">METV</a>) has been a relative hit with investors as AUM stands at roughly $460 million. The fund is currently trading mostly in line with NAV. As of its most recent quarterly filing, the ETF&rsquo;s top holdings were Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), ROBLOX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>), Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>).&nbsp;

Not surprisingly, the fund got killed over the last 52 weeks, falling 25%. In 2023, however, shares have climbed 31% after last year&rsquo;s drubbing. Investors should look at this fund as a mix of big-cap and mid-cap tech with a slant toward metaverse exposure. Currently, this is a fairly contrarian space. On a longer-term horizon, however, this fund would certainly seem to have a real opportunity to outperform. It appears to be an elegant, diversified, high-risk investment vehicle that could make an attractive portfolio addition over a 5- to 10-year investment horizon.&nbsp;

The other Roundhill issue that is quite interesting is the Roundhill Sports Betting &amp; iGaming ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BETZ#NYSE">BETZ</a>), which currently has assets well over $100 million. This is a niche product that seeks to ride the global wave in gambling and gaming. One of the distinguishing aspects of this fund is its international diversity &ndash; more than 15% of assets are in Australia, 10% in Malta, Britain has 8%, and Sweden, Ireland, and Gibraltar are also home to portfolio companies.&nbsp;

A third of BETZ&rsquo;s AUM is invested in the United States. Top Holdings include Kindred Group PLC (STO: KIND-SDB), Tabcorp Holdings Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TACBY#OTC">TACBY</a>), and Entain PLC (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GMVHY#OTC">GMVHY</a>). The ETF had 35% of its assets in Sportsbooks, 24% in iGaming, 21% in tech, and 18% in casinos as of the last reporting period. Given market conditions, it is of little surprise that BETZ has seen a 22% decline over the last year, but since the ETF&rsquo;s 2020 inception, it is essentially flat.&nbsp;

This is a product that investors may want to look at if the NASDAQ starts to percolate again in the coming months. Its international footprint, niche technology and gambling and gaming focus, and relatively small AUM among other factors also make this an interesting trading vehicle if and when the heady days of the NASDAQ return.&nbsp;

The final ETF that has an attention-grabbing and very interesting strategy is Constrained Capital&rsquo;s ESG Orphans ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORFN#NYSE">ORFN</a>). In terms of the application of unique, contrarian thinking, in the pursuit of alpha, ORFN might just deserve an A!&nbsp;

The Constrained Capital ESG Orphans ETF seeks to track the performance of the Constrained Capital ESG Orphans&rsquo; Index, which is comprised of US equity securities of publicly traded mid and large-cap US-listed companies in the fossil fuel, nuclear energy, weapons and munitions, tobacco, alcohol, and gaming sectors.&nbsp;

The fund is based on the thesis that ESG investing has created price distortions (i.e. value) in non-ESG sectors. It&rsquo;s an elegant idea. In addition to energy companies, defense companies, etc., ORFN also has a heavy tilt towards vice stocks in the alcohol, tobacco, and gaming industries. Oftentimes, this is sticky revenue that is not highly dependent on broader economic trends.&nbsp;

Familiar names that show up in ORFN&rsquo;s portfolio iniclude Exxon Mobil Copr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>), Philip Morris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PM#NYSE">PM</a>), Lockheed-Martin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), Diageo Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEO#NYSE">DEO</a>) and Anheuser-Busch Inbev SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>). The other feature of this ETF that can be seen in its 52-week and YTD returns is its low-beta, which is to be expected. Over the last year, ORFN has climbed better than 4% in a tough market environment while remaining largely unchanged in 2023 vs. a 7% rise for the S&amp;P 500.

Bringing things full circle, part of the strategy and thesis for ORFN, is to make contrarian bets against the ESG space, specifically because of the large, passive, capital in-flows that ESG has seen in recent years. It could very well be a perfect example of how ETFs have and will continue to wag the tail of the dog, triggering both market price distortions and opportunity!&nbsp;

Featured photo by <a href="https://unsplash.com/@wance0003000">Wance Paleri</a> on <a href="https://unsplash.com/photos/s7gyjnH7Ulk">Unsplash</a>

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