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Cboe Global Markets Inc. (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) has announced plans to introduce the first-ever <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42071163/blackrock-spot-bitcoin-etf-options-on-nasdaq-rack-up-9-figure-trading-volume-in-first-few-hours-seems-very-bullish-says-analyst">cash-settled index options</a> tied to Bitcoin&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) spot price.
What Happened: These new financial instruments are <a href="https://ir.cboe.com/news/news-details/2024/Cboe-to-Launch-the-First-Cash-Settled-Options-Product-Related-to-Spot-Bitcoin-Beginning-Monday-December-2/default.aspx">scheduled</a> for launch on Dec. 2 and will be based on the Cboe Bitcoin U.S. ETF Index, which tracks a selection of <a href="https://www.benzinga.com/topic/spot-bitcoin-etf">spot Bitcoin exchange-traded funds (ETFs)</a> listed in the United States.
The move is part of a broader trend of integrating cryptocurrency-related securities into traditional financial markets.
This announcement comes shortly after Nasdaq began listing <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42058823/blackrocks-spot-bitcoin-etf-to-open-for-options-trading-heres-why-it-could-be-a-big-deal-for-bitcoin">spot Bitcoin ETF options</a> earlier this week, enabling U.S. investors to use derivatives to speculate on Bitcoin&#8217;s price movements or hedge their existing positions.
Cboe's initiative adds to the growing suite of crypto-related trading products available in the regulated U.S. market.
Historically, the majority of crypto derivatives trading, such as options and futures, has taken place on offshore platforms due to restrictive U.S. regulations. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42139601/solana-hits-264-record-high-as-etf-filings-regulatory-optimism-drive-market-momentum">Solana Hits $264 Record High As ETF Filings, Regulatory Optimism Drive Market Momentum</a>
Binance and Deribit, both headquartered outside the U.S., have been the dominant players in this space, offering leveraged trading to their users.
However, the increasing appetite for crypto derivatives in the U.S., coupled with President-elect Donald Trump's <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42122348/trumps-planned-crypto-council-may-oversee-bitcoin-reserve-report">pro-crypto stance</a>, is driving U.S.-based marketplaces to expand their offerings.
Why It Matters: This shift has allowed institutional and retail investors to access new tools for managing risk and amplifying returns.
CME Group, which already offers Bitcoin futures, has reported a significant increase in open interest, reflecting heightened activity from institutional investors. 
This growth has begun to erode Binance's market share. 
Additionally, over-the-counter options trading has emerged as a popular strategy among U.S. institutions seeking to hedge their crypto positions or implement more complex trading strategies.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42138209/microstrategy-trading-at-insane-256-premium-to-bitcoin-holdings-research-shows">MicroStrategy Trading At &#8216;Insane&#8217; 256% Premium To Bitcoin Holdings, Research Shows</a></li>
</ul>
Image: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

News

$BTC

CBOE

Cboe To Launch Cash-Settled Bitcoin Index Options

In a recent interview, NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang shared his thoughts on the company's focus on supply as demand remains "incredible," a development that was a big topic in the company's <a href="https://www.benzinga.com/24/11/42099904/nvidia-q3-earnings-highlights">recent financial results.</a>
What Happened: Although Nvidia stock has dipped since its third-quarter results, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42119226/nvidia-analysts-see-stock-best-positioned-in-ai-not-worried-about-guidance-all-systems-go-for-blackwell-ramp">analysts remain unfazed</a>, pointing to surging demand for Blackwell chips.
During an appearance on Fox Business Network's "The Claman Countdown," Huang was asked about the problem many CEOs would love to have of demand being greater than supply.
"Hopper and Blackwell are two just magnificent computing systems," Huang <a href="https://www.foxbusiness.com/video/6365013367112">said</a>.
Huang said demand is strong for data centers to get their hands on Blackwell chips.
"We're going to go from zero billion dollars of Blackwell to many billions of dollars of Blackwell. And so, it's going to be an incredible thing. But the demand is just incredible."
During the interview, Huang was asked about the large number of customers and big-name customers who have placed orders and the process for determining which customers get their Blackwell chips first.
"We try to be fair with everyone so that they can all get their AI infrastructure up and running. We also make sure that their infrastructure is ready. And so, between us and them, there's no sense shipping computers if the data center and the power and the readiness of the system is not there," Huang said.
Huang highlighted Alphabet, Dell and CoreWeave as companies who have expressed their optimism. "Everybody's really proud of the system they've stood up and we're all just racing to get there."
Huang said Nvidia does pricing "based on the value delivered."
"In a lot of ways, it's kind of like generating electricity in the last industrial revolution, and there are all this machinery, these large machinery called A.C. generators, and they produce electricity. We're now producing this miracle called artificial intelligence."
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>
What's Next: Huang said the company is "in good shape" and confident in its Blackwell production ramp.
"Our demand is greater than our supply. And so, we need to get more out," Huang said.
Huang said Nvidia is working with thousands of AI native companies and it's hard to have infrastructure available for all of them.
"We're working super hard to get there as fast as we can, which is the reason why we're ramping Blackwell so hard."
Nvidia's success comes largely in the United States, Huang added. The CEO sees an opportunity to continue to expand to other countries.
"Over time and very quickly, whether it's in the west or in the east, we're going to see just about every single country jumping onto this A.I. revolution, this age of A.I."
Huang brushed off concerns that AI will take over the world and take all the jobs.
"AI can do a lot of tasks, but they can't do 100% of our jobs. That's the big idea."
Huang said AI is going to revolutionize and transform jobs and it's important that people learn how to use AI.
"What is very likely is that AI will do 20, 30, 40% of 100% of the jobs in the world."
NVDA Price Action: Nvidia stock is down 3% to $142.10 on Friday versus a 52-week trading range of $45.01 to $152.89. Nvidia stock is up 195% year-to-date, but has fallen 1% over the last month.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/41888032/nvidia-ceo-jensen-huang-said-nvidia-has-no-long-term-strategy-how-this-philosophy-is-similar-to-his-reason-to-not-wear-a-watch">Nvidia CEO Jensen Huang Doesn&#8217;t Wear A Watch After A Gardner Taught Him The Secret Of Time</a></li>
</ul>
Image created with photos from Nivida and Shutterstock.

Tech

Trading Ideas

NVDA

Nvidia CEO Jensen Huang Calls AI A 'Miracle,' Say It 'Can't Do 100% Of Our Jobs'

Financial giants have made a conspicuous bullish move on Alphabet. Our analysis of options history for Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) revealed 45 unusual trades.
Delving into the details, we found 55% of traders were bullish, while 33% showed bearish tendencies. Out of all the trades we spotted, 15 were puts, with a value of $1,256,958, and 30 were calls, valued at $1,436,733.
<h3>Expected Price Movements</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $110.0 and $300.0 for Alphabet, spanning the last three months.
<h3>Volume &amp; Open Interest Development</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Alphabet's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Alphabet's substantial trades, within a strike price spectrum from $110.0 to $300.0 over the preceding 30 days.
<h3>Alphabet Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732302090_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>GOOGL</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/19/25</td>
<td>$4.85</td>
<td>$4.7</td>
<td>$4.7</td>
<td>$130.00</td>
<td>$305.5K</td>
<td>591</td>
<td align="right">662</td>
</tr>
<tr>
<td>GOOGL</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$24.0</td>
<td>$23.95</td>
<td>$24.0</td>
<td>$185.00</td>
<td>$144.0K</td>
<td>1.0K</td>
<td align="right">60</td>
</tr>
<tr>
<td>GOOGL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$41.9</td>
<td>$41.85</td>
<td>$41.85</td>
<td>$130.00</td>
<td>$125.5K</td>
<td>1.1K</td>
<td align="right">30</td>
</tr>
<tr>
<td>GOOGL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/17/25</td>
<td>$8.0</td>
<td>$7.9</td>
<td>$7.9</td>
<td>$160.00</td>
<td>$115.3K</td>
<td>3.3K</td>
<td align="right">318</td>
</tr>
<tr>
<td>GOOGL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$10.85</td>
<td>$10.85</td>
<td>$10.85</td>
<td>$200.00</td>
<td>$108.5K</td>
<td>4.3K</td>
<td align="right">431</td>
</tr>
</tbody>
</table>

<h3>About Alphabet</h3>
Alphabet is a holding company that wholly owns internet giant Google. The California-based company derives slightly less than 90% of its revenue from Google services, the vast majority of which is advertising sales. Alongside online ads, Google services houses sales stemming from Google's subscription services (YouTube TV, YouTube Music among others), platforms (sales and in-app purchases on Play Store), and devices (Chromebooks, Pixel smartphones, and smart home products such as Chromecast). Google's cloud computing platform, or GCP, accounts for roughly 10% of Alphabet's revenue with the firm's investments in up-and-coming technologies such as self-driving cars (Waymo), health (Verily), and internet access (Google Fiber) making up the rest.
After a thorough review of the options trading surrounding Alphabet, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Present Market Standing of Alphabet</h3>
<ul>
<li>With a volume of 23,824,736, the price of GOOGL is down -1.64% at $164.88. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 67 days.</li>
</ul>
<h3>What The Experts Say On Alphabet</h3>
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $202.8.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Consistent in their evaluation, an analyst from Loop Capital keeps a Hold rating on Alphabet with a target price of $185. 
&#x2A; An analyst from Wells Fargo persists with their Equal-Weight rating on Alphabet, maintaining a target price of $187. 
&#x2A; Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for Alphabet, targeting a price of $215. 
&#x2A; An analyst from B of A Securities has decided to maintain their Buy rating on Alphabet, which currently sits at a price target of $210. 
&#x2A; Reflecting concerns, an analyst from BMO Capital lowers its rating to Outperform with a new price target of $217.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Alphabet, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Options

Markets

GOOGL

Spotlight on Alphabet: Analyzing the Surge in Options Activity

Deep-pocketed investors have adopted a bullish approach towards Warner Bros. Discovery (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in WBD usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for Warner Bros. Discovery. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 60% leaning bullish and 40% bearish. Among these notable options, 7 are puts, totaling $506,409, and 3 are calls, amounting to $88,160.
<h3>What's The Price Target?</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $7.5 to $16.0 for Warner Bros. Discovery over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Warner Bros. Discovery's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Warner Bros. Discovery's substantial trades, within a strike price spectrum from $7.5 to $16.0 over the preceding 30 days.
<h3>Warner Bros. Discovery Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732302085_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th align="right">Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>WBD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/15/27</td>
<td>$5.6</td>
<td>$5.45</td>
<td>$5.45</td>
<td>$15.00</td>
<td>$163.4K</td>
<td align="right">2</td>
<td>300</td>
</tr>
<tr>
<td>WBD</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/18/26</td>
<td>$3.45</td>
<td>$3.3</td>
<td>$3.44</td>
<td>$12.00</td>
<td>$102.5K</td>
<td align="right">342</td>
<td>2</td>
</tr>
<tr>
<td>WBD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/17/25</td>
<td>$1.46</td>
<td>$1.45</td>
<td>$1.45</td>
<td>$11.00</td>
<td>$68.4K</td>
<td align="right">987</td>
<td>1.0K</td>
</tr>
<tr>
<td>WBD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/18/25</td>
<td>$5.85</td>
<td>$5.75</td>
<td>$5.77</td>
<td>$16.00</td>
<td>$57.5K</td>
<td align="right">0</td>
<td>100</td>
</tr>
<tr>
<td>WBD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/17/25</td>
<td>$1.46</td>
<td>$1.46</td>
<td>$1.46</td>
<td>$11.00</td>
<td>$39.4K</td>
<td align="right">987</td>
<td>270</td>
</tr>
</tbody>
</table>

<h3>About Warner Bros. Discovery</h3>
Warner Bros. Discovery was formed in 2022 through the combination of WarnerMedia and Discovery Communications. It operates in three global business segments: studios, networks, and direct-to-consumer. Warner Bros. Pictures is the crown jewel of the studios business, producing, distributing, and licensing movies and television shows. The networks business consists of basic cable networks, such as CNN, TNT, TBS, Discovery, HGTV, and the Food Network. Direct-to-consumer includes HBO and the firm's streaming platforms, which have now been consolidated to Max and Discovery+. Much of the DTC content is created within the firm's other two business segments. Each segment operates with a global reach, with Max available in over 60 countries.
In light of the recent options history for Warner Bros. Discovery, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Present Market Standing of Warner Bros. Discovery</h3>
<ul>
<li>Trading volume stands at 15,487,489, with WBD's price down by -0.24%, positioned at $10.21.</li>
<li>RSI indicators show the stock to be may be overbought.</li>
<li>Earnings announcement expected in 91 days.</li>
</ul>
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Warner Bros. Discovery options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Warner Bros. Discovery's Options: A Look at What the Big Money is Thinking

Whales with a lot of money to spend have taken a noticeably bullish stance on Block.
Looking at options history for Block (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>) we detected 24 trades.
If we consider the specifics of each trade, it is accurate to state that 54% of the investors opened trades with bullish expectations and 29% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $363,900 and 22, calls, for a total amount of $1,466,502.
<h3>Projected Price Targets</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $42.5 to $125.0 for Block over the recent three months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Block's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Block's whale activity within a strike price range from $42.5 to $125.0 in the last 30 days. 
<h3>Block Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732302079_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SQ</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$3.2</td>
<td>$3.05</td>
<td>$3.13</td>
<td>$90.00</td>
<td>$314.4K</td>
<td>2.1K</td>
<td>1.0K</td>
</tr>
<tr>
<td>SQ</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$4.8</td>
<td>$4.75</td>
<td>$4.8</td>
<td>$97.50</td>
<td>$241.0K</td>
<td>3.0K</td>
<td>507</td>
</tr>
<tr>
<td>SQ</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/15/25</td>
<td>$23.1</td>
<td>$23.0</td>
<td>$23.1</td>
<td>$80.00</td>
<td>$154.7K</td>
<td>23</td>
<td>71</td>
</tr>
<tr>
<td>SQ</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$50.3</td>
<td>$49.95</td>
<td>$49.95</td>
<td>$42.50</td>
<td>$109.8K</td>
<td>254</td>
<td>22</td>
</tr>
<tr>
<td>SQ</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$2.6</td>
<td>$2.47</td>
<td>$2.58</td>
<td>$100.00</td>
<td>$103.7K</td>
<td>12.2K</td>
<td>1.2K</td>
</tr>
</tbody>
</table>

<h3>About Block</h3>
Founded in 2009, Block provides payment services to merchants, along with related services. The company also launched Cash App, a person-to-person payment network. In 2023, Square's payment volume was a little over $200 million.
<h3>Where Is Block Standing Right Now?</h3>
<ul>
<li>Currently trading with a volume of 4,449,254, the SQ's price is up by 1.14%, now at $93.76. </li>
<li>RSI readings suggest the stock is currently may be overbought.</li>
<li>Anticipated earnings release is in 90 days.</li>
</ul>
<h3>Professional Analyst Ratings for Block</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $92.2.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Consistent in their evaluation, an analyst from Keefe, Bruyette &amp; Woods keeps a Market Perform rating on Block with a target price of $80. 
&#x2A; An analyst from Piper Sandler downgraded its action to Overweight with a price target of $83. 
&#x2A; An analyst from Needham has decided to maintain their Buy rating on Block, which currently sits at a price target of $90. 
&#x2A; Maintaining their stance, an analyst from Canaccord Genuity continues to hold a Buy rating for Block, targeting a price of $120. 
&#x2A; An analyst from Exane BNP Paribas has revised its rating downward to Neutral, adjusting the price target to $88. 
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Block, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

A Closer Look at Block's Options Market Dynamics

<a href="https://www.cnn.com/2024/11/22/politics/kelly-loeffler-trump-agriculture-department?cid=ios_app" title="https://www.cnn.com/2024/11/22/politics/kelly-loeffler-trump-agriculture-department?cid=ios_app">https://www.cnn.com/2024/11/22/politics/kelly-loeffler-trump-agriculture-department?cid=ios_app</a>

Politics

General

Bakkt Holdings, Inc. Class A Common Stock

BKKT

Watching Shares Of Bakkt; CNN Reporting President-elect Trump Is Expected To Offer Kelly Loeffler, Former Bakkt CEO, The Job Of Secretary Of The Department Of Agriculture

WIIM

Sonic Automotive shares are trading higher after Seaport Global upgraded the stock from Neutral to Buy and announced a price target of $74.

Connexa Sports Technologies Inc. - Common Stock

YYAI

Connexa Sports Technologies shares are trading lower. The company announced that it has closed the acquisition of a further 50% ownership stake in Yuanyu Enterprise Management.

CAAP

Corporacion America Airports shares are trading higher. The stock may be moving on continued strength following a Q3 revenue beat reported after hours on Wednesday.

NetApp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTAP#NASDAQ">NTAP</a>) reported better-than-expected second-quarter results on Thursday.
NetApp reported quarterly earnings of $1.87 per share, which beat the analyst consensus estimate of $1.78. Quarterly revenue came in at $1.65 billion, which beat the analyst consensus estimate of $1.64 billion and is an increase over revenue of $1.56 billion from the same period last year.
"Our strong Q2 performance was driven by another record-breaking quarter in all-flash storage and strong performance in first party and marketplace cloud storage services," said George Kurian, CEO of NetApp. "Broad-based customer preference for our intelligent data infrastructure platform and visionary approach for a data-driven future has enabled us to outgrow the market and take share from competitors. Our focus and momentum fuel my confidence in our ability to deliver outstanding results for customers and shareholders."
The company said it sees FY25 revenue of $6.54 billion to $6.74 billion and GAAP earnings of $5.48 to $5.68 per share, with non-GAAP EPS of $7.20 to $7.40.
NetApp shares fell 3.3% to trade at $122.46 on Friday.
These analysts made changes to their price targets on NetApp following earnings announcement.
<ul>
<li>B of A Securities analyst Wamsi Mohan maintained NetApp with an Underperform and raised the price target from $115 to $121.</li>
<li>Northland Capital Markets analyst Nehal Chokshi maintained NetApp with a Market Perform and raised the price target from $108 to $120.</li>
<li>Morgan Stanley analyst Meta Marshall maintained NetApp with an Equal-Weight and raised the price target from $127 to $132.</li>
<li>Barclays analyst Tim Long maintained NetApp with an Equal-Weight and increased the price target from $119 to $132.</li>
<li>Wells Fargo analyst Aaron Rakers maintained NetApp with an Equal-Weight and raised the price target from $135 to $140.</li>
<li>Stifel analyst Matthew Sheerin maintained the stock with a Buy and raised the price target from $140 to $145.</li>
<li>TD Cowen analyst Karl Ackerman maintained NetApp with a Buy and raised the price target from $145 to $160.</li>
<li>Citigroup analyst Asiya Merchant maintained the stock with a Neutral and raised the price target from $130 to $135.</li>
</ul>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42137942/jim-cramer-says-this-stock-is-a-bitcoin-play-and-he-prefers-to-own-bitcoin">Jim Cramer Says This Stock Is A Bitcoin Play And He Prefers To Own Bitcoin</a></li>
</ul>

Earnings

Price Target

Analyst Ratings

NTAP

NetApp Analysts Raise Their Forecasts After Strong Earnings

ASGN

ASGN shares are trading higher after BMO Capital upgraded the stock from Market Perform to Outperform and raised its price target from $96 to $100.

Cannabis company LEEF Brands, Inc. (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/LEEEF#OTCQB">LEEEF</a>) completed its 10-for-1 share consolidation of its common shares. The consolidation is now in effect, and the common shares are trading on the Canadian Securities Exchange and the OTCQB on a post-consolidation basis
In connection with the consolidation, the company's ticker symbol on the OTCQB has temporarily changed to LEEED. This adjustment will remain in effect for 21 days following the date of the consolidation, after which the company's ticker symbol on the OTCQB will revert to LEEEF. The company acknowledges any inconvenience this temporary change may cause and appreciates shareholders' understanding during this transition period.
 Read Also: <a href="https://www.benzinga.com/24/11/42118372/nasdaq-traded-cannabis-co-agrify-secures-259m-through-non-brokered-private-placement-ceo-reveals-where-money-would-go">NASDAQ-Traded Cannabis Co. Agrify Secures $25.9M Via Private Placement, Here&#8217;s How They&#8217;ll Spend It</a>
Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.
To address potential delays resulting from the <a href="https://www.benzinga.com/news/18/11/12720984/canada-post-is-not-on-strike-after-deadline-passes-union-spells-out-its-demands">Canada Post strike</a>, shareholders submitting their letter of transmittal and share certificates (if applicable) are encouraged to deliver these documents directly to Olympia Trust Company, the company's transfer agent, via hand delivery.Once Canada Post resumes normal operations, LEEF will mail the letter of transmittal (available under the company's profile on SEDAR+) to any remaining registered shareholders to facilitate the exchange process.
Concurrent with the consolidation, LEEF Brands <a href="https://www.benzinga.com/markets/cannabis/24/10/41629418/marijuana-company-leef-brands-consolidates-shares-launches-1-8m-private-placement-to-fuel-expans">previously announced</a> a private placement to raise gross proceeds of up to CA$2.5 million through the issuance of up to 10 million units. Each unit will be priced at $0.25 (post-consolidation) and will consist of one common share and one common share purchase warrant.
Earlier this month, the company reported its financial results for the three months ended Sept. 30, 2024, with <a href="https://www.benzinga.com/news/earnings/24/11/41938603/leef-brands-cannabis-co-reports-revenue-growth-higher-operating-expenses-in-q3">revenue of $6.76 million</a> compared to $5.67 million for the same period last year.
<h2 class="wp-block-heading">Price Action</h2>
LEEF Brands shares closed Thursday's market session flat at 16 cents per share.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/11/42122829/cannabinoid-leader-innocan-pharma-reports-174-yoy-revenue-growth">Cannabinoid Leader Innocan Pharma&#8217;s Q3: 174% YoY Revenue Growth</a></li>
</ul>
Photo: Courtesy of Bigc Studio via Shutterstock

Cannabis

LEEEF

LEEF Brands Completes 10:1 Share Consolidation

To gain an edge, this is what you need to know today.
<figure class="wp-block-image size-large is-resized"><img decoding="async" src="https://thearorareport.com/wp-content/uploads/2024/11/2024-11-22_07h31_01-scaled.jpg" alt="" style="width:624px" /></figure>
<h3 class="wp-block-heading">AI Frenzy Shifts</h3>
Please <a href="https://thearorareport.com/chart-analysis-stock-ai-frenzy-shift-software-stocks-igv-smh-mc-11222024">click here</a> for an enlarged chart comparing VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) and iShares Expanded Tech-Software Sector ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IGV#BATS">IGV</a>).&nbsp;
Note the following:
<ul>
<li>The Arora Report previously shared with readers that the next stage of AI would benefit software stocks.&nbsp; This is beginning to happen now.&nbsp;&nbsp;</li>
<li>The chart shows software ETF IGV has moved up since the presidential election.&nbsp;&nbsp;</li>
<li>The chart shows that IGV has outperformed semiconductor ETF SMH by about 10% since the election.&nbsp;&nbsp;</li>
<li>The Arora Report algorithms show money is flowing out of semiconductors and into software.</li>
<li>AI allows work processes to be totally reimagined compared to work processes of today.&nbsp; Work processes of today are implemented with legacy software.&nbsp; In The Arora Report analysis, it is an order of magnitude more efficient to use reimagined processes with AI native software.&nbsp;&nbsp;</li>
<li>In The Arora Report analysis, there is a battle brewing among software companies for market share when it comes to AI capabilities.&nbsp; Legacy software companies have existing customers and cash to invest in AI.&nbsp; Legacy software companies are bolting on AI offerings.&nbsp; AI native software companies have an edge technologically.&nbsp; However, they do not have an existing market share.&nbsp; Promising AI native software companies are privately held.&nbsp;&nbsp;</li>
<li>The foregoing tells us that AI will end up decimating some software companies while others will go to new heights.&nbsp;&nbsp;</li>
<li>Investors need to look forward.&nbsp; Right now, most investors who are investing in software companies are looking backwards.&nbsp;&nbsp;</li>
<li>Looking forward to 2030, the best way to capture AI opportunities in software companies is to combine the following three:
<ul>
<li>Profiting from a base position in a software ETF.&nbsp; The Arora Report's software ETF of choice is IGV.&nbsp; As full disclosure, IGV is in The Arora Report's ZYX Allocation Model Portfolio.&nbsp;&nbsp;</li>
<li>Profiting from individual software company stocks that are evolving and keeping pace with AI developments and retaining and attracting customers.&nbsp; An example is PLTR and as full disclosure, PLTR was recently added to The Arora Report&#8217;s ZYX Buy Core Model Portfolio.&nbsp;&nbsp;</li>
<li>Profiting from shorting software companies whose business models are being hurt by AI.</li>
</ul>
</li>
<li>A judicious combination of the foregoing will produce significantly higher risk adjusted returns, compared to using only one of the three in your investments.&nbsp;&nbsp;</li>
<li>In the early trade, the momo crowd is aggressively buying junk stocks.&nbsp;&nbsp;</li>
</ul>
<h3 class="wp-block-heading">China</h3>
Chinese stocks are ultra cheap.&nbsp; The rally in Chinese stock has stalled after Trump's re-election.&nbsp; Trump wants to impose 60% tariffs on Chinese goods.&nbsp; In the face of Trump's threat, China's 10 year note auction saw strong demand.&nbsp; The pricing was close to the record low yield.&nbsp; This data point indicates that investors believe China will manage just fine with Trump's tariffs.&nbsp;&nbsp;
In The Arora Report analysis, it is important to keep track of such data points. &nbsp;If there are more such data points, it will be time to step into Chinese stocks because they are so cheap.&nbsp;&nbsp;
<h3 class="wp-block-heading">Magnificent Seven Money Flows</h3>
In the early trade, money flows are positive in Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).&nbsp;
In the early trade, money flows are neutral in Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>).
In the early trade, money flows are negative in Alphabet Inc Class C (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) and NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
In the early trade, money flows are negative in SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>).
<h3 class="wp-block-heading">Momo Crowd And Smart Money In Stocks</h3>
Investors can gain an edge by knowing money flows in SPY and QQQ.  Investors can get a bigger edge by knowing when smart money is buying stocks, gold, and oil.  The most popular ETF for gold is SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>).  The most popular ETF for silver is iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>).  The most popular ETF for oil is United States Oil ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>).
<h3 class="wp-block-heading">Bitcoin</h3>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is approaching $100K. SEC Chair Gensler has said that he will resign on Trump's inauguration day.&nbsp; Gensler has been anti-bitcoin.&nbsp; Even though Gensler's resignation was expected, as Trump has said he would replace Gensler, buying came into bitcoin on the news.&nbsp;&nbsp;
<h3 class="wp-block-heading">Protection Band And What To Do Now</h3>
It is important for investors to look ahead and not in the rearview mirror.&nbsp; The proprietary protection band from The Arora Report is very popular.&nbsp; The protection band puts all of the data, all of the indicators, all of the news, all of the crosscurrents, all of the models, and all of the analysis in an analytical framework that is easily actionable by investors.&nbsp;
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp; The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp; If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash.&nbsp; A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp; When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp; High beta stocks are the ones that move more than the market.
<h3 class="wp-block-heading">Traditional 60/40 Portfolio</h3>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less.&nbsp; Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter-benzinga">Generate Wealth Newsletter</a>.

Market Summary

AAPL

AMZN

GOOG

MSFT

TSLA

Opportunities For Investors As AI Frenzy Shifts From Semiconductors To Software

Bloom Energy shares are trading higher after Piper Sandler maintained an Overweight rating on the stock and raised its price target from $20 to $30.

ATKR

Atkore shares are trading higher. Loop Capital maintained a Buy rating on the stock and RBC Capital maintained a Sector Perform rating.

Nebraska's recent election, where voters overwhelmingly <a href="https://www.benzinga.com/markets/cannabis/24/11/41764503/nebraska-says-yes-to-medical-cannabis-after-years-of-failed-legalization-attempts-heres-what-you">approved medical cannabis legalization</a>, now faces intense legal scrutiny. As Taking Joints Memo <a href="https://talkingjointsmemo.com/attorneys-argue-against-nebraskas-successful-medical-cannabis-ballot-measures/">reported</a>, the state Attorney General&#8217;s Office and former State Senator John Kuehn argue that widespread petition fraud and notarial malfeasance invalidated tens of thousands of signatures, potentially nullifying the election results.
The lawsuit, filed in Lancaster County District Court, targets the sponsors of Nebraskans for Medical Marijuana and Secretary of State Bob Evnen, who certified the measures for the ballot. The measures passed with strong public support: 71% for Initiative Measure 437 (legalization) and 67% for Initiative Measure 438 (regulation). However, the legal battle casts doubt on whether those results will stand.
<h3 class="wp-block-heading">Allegations Of Systemic Fraud</h3>
Attorneys for Kuehn and the state argue that <a href="https://www.benzinga.com/markets/cannabis/24/09/40884022/nebraska-medical-cannabis-legalization-heads-into-november-election-amid-signature-controversy">fraudulent actions by petition circulators</a> and notaries compromised the integrity of the initiative process. In court, Assistant Attorney General Dave Lopez said, "Cheating is a choice," and alleged that misconduct "permeated the campaign from top to bottom
Key evidence includes texts from Crista Eggers, campaign manager for the ballot measures, instructing volunteers to "push the limits" and disregard rules. Eggers maintains that her comments were taken out of context. Two paid circulators admitted to falsifying signatures, with one, Michael Egbert, pleading guilty to a misdemeanor for using a phone book to forge voter signatures.
<h3 class="wp-block-heading">Legal Precedent and Expert Testimony</h3>
State attorneys cited a <a href="https://history.nebraska.gov/wp-content/uploads/2018/03/doc_publications_NH1988Barkley.pdf">1919 Nebraska Supreme Court ruling</a> that allowed fraudulent circulator signatures to be invalidated entirely. They also presented expert testimony from forensic document examiner Mark Songer, who identified potential forgeries among petitions. However, the defense argued that extending fraud to all petitions notarized by implicated individuals would undermine the initiative process.
Eggers, who notarized six pages of Egbert's petitions, denies knowingly approving fraudulent documents. Another circulator, Jennifer Henning, alleged additional misconduct but faced impeachment of her testimony due to her history of fraud convictions.
<h3 class="wp-block-heading">Potential Outcomes</h3>
District Judge Susan Strong will determine whether the petitions can be rehabilitated or if the election results should be voided. Both sides anticipate that the case will ultimately be decided by the Nebraska Supreme Court. The state constitutional officers are scheduled to certify the election on December 2, but ongoing legal battles could delay implementation of the measures.
<h3 class="wp-block-heading">Broader Implications</h3>
The legal challenge underscores the contentious nature of cannabis reform in Nebraska. Critics warn invalidating the election could erode public trust, while supporters argue it protects the initiative system&#8217;s integrity. As Commissioner Ava Callender Concepcion noted, "It is important that states like ours continue to innovate and pursue opportunities for research despite the barriers that may exist."
Cover image made with AI

Government

Psychedelics

Legal

Nebraska's Cannabis Legalization Faces Courtroom Showdown Over Alleged Fraud

BOOT

BURL

RVLV

URBN

VSCO

Shares of retail and apparel companies are trading higher in possible sympathy with Gap and Ross Stores, which rose after reporting quarterly earnings.

The European Commission (EC) <a href="https://europeancapitalinsights.substack.com/p/european-commission-downgrades-eu?r=3nmatg">downgraded its forecast</a> for the European Union's (EU) gross domestic product,&nbsp; pointing to "key geopolitical risks" from the war in Ukraine and the Middle East.
Brussels expects the EU GDP to grow by a mere 0.8% this year and 1.5% in 2025 <a href="https://economy-finance.ec.europa.eu/economic-forecast-and-surveys/economic-forecasts/spring-2024-economic-forecast-gradual-expansion-amid-high-geopolitical-risks_en">compared to a May</a> forecast of 1.0% and 1.6%, <a href="https://www.thewatcherpost.eu/the-eu-commission-downgrades-economic-forecasts-with-uncertainties-in-the-background/">according to a report published on November 15</a>. The Commission noted weak household consumption for the expected lack of growth resumption.
"The outlook remains highly uncertain, with risks largely tilted to the downside," EC Commissioner Paolo Gentiloni said.
European gas prices rose to a one-year high and pushed investors towards safe havens as Russia lowered its threshold for using nuclear weapons and fired a hypersonic ballistic missile at Ukraine.&nbsp;
Gold was headed for its largest weekly gain in nearly eight months on Friday as the euro hovered at a 2-year low.
<h3 class="wp-block-heading">Consumer Confidence Dips, Hurting EU GDP Prospects</h3>
Global events have weighed on consumer confidence in the Euro Area. It decreased by 1.2 points to -13.7 in November 2024, according to <a href="https://economy-finance.ec.europa.eu/document/download/bfeec5c8-1e9f-4be7-a173-dffa2deaef2e_en?filename=Flash_consumer_2024_11_en.pdf">EC preliminary estimates</a> on Thursday. This is back below its long-term average and worse than market expectations of -12.4.&nbsp;
The EU faces "big uncertainties on the how and when the propensity to consumption will regain strength," Gentiloni said. "A still high cost of living and rising economic uncertainty pushed households to save an increasing share of their income," he added.&nbsp;
Meanwhile, the <a href="https://www.weforum.org/stories/2024/10/europe-saving-rate-euro-eurozone-growth-eu/#:~:text=In%20the%20second%20quarter%20of,to%20the%20COVID%2D19%20pandemic">saving rate in Europe sits 12% above its pre-pandemic average</a> at 15.7%, while the <a href="https://ec.europa.eu/eurostat/web/products-euro-indicators/w/2-04102024-ap">business profit share declined to 38.8%</a>.
<figure class="wp-block-image is-resized"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfNgjJipo0hHUSW40lcoIVHHK8eQ-vB4LqjmC6NSL46csVHStRlQKStBPx2mxawR6YhDBP3rmkxjnsfOuz4fN5TQXRt7CSOWs0R_N1UyWlDI8HayU7uMxe4QWMyI91IT8klBQDscCC52Ep8SQK47A?key=fNg0o4g5C3yXveD5T_VxYfrX" alt="" style="width:624px" /></figure>
Household saving rate in the euro area, source: <a href="https://ec.europa.eu/eurostat/web/products-euro-indicators/w/2-04102024-ap">Eurostat</a>
EU officials are wary about the impact that protectionist policies under President-elect Donald Trump will have on the bloc.&nbsp; <a href="https://www.ft.com/content/18e87028-0db7-4ba1-b59f-6062c06a5d6e">New tariffs could severely impact European economies</a>, particularly those with significant trade surpluses with America, like the Netherlands, Germany, France, Belgium and Italy.
The eurozone remains at risk of "a <a href="https://apnews.com/article/eurozone-growth-forecast-commission-report-470b390203740df5f110b5cd49894787">possible protectionist turn in US trade policy</a>," Gentiloni said. Tariffs and import taxes "would be extremely harmful for both economies,"&nbsp; he added.&nbsp;
<figure class="wp-block-image is-resized"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfUEQz_A8W5fJfGRNs3X2SWknJ2a6z_4etvvwgQjBVWOzHntoxqOoy6n2ErNL0fHokPW90WiX9XIOtadtDcN4vA9eeKkM3wItLVW47DyjXizNe8dz_4-proRQAzRLCW_sCfraVdoFowPdsLv746oQ?key=fNg0o4g5C3yXveD5T_VxYfrX" alt="" style="width:624px" /></figure>
EU import of goods from the US, 2023, Source: <a href="https://ec.europa.eu/eurostat/statistics-explained/index.php?title=USA-EU_-_international_trade_in_goods_statistics#Recent_developments">Eurostat</a>
The Commission expects Germany to fall into recession in 2024. However, it forecast that Italy, France and Spain will grow 0.7%, 1.1% and 3%, respectively.
"Growing trade conflicts and market uncertainty, against a backdrop of greater political fragmentation in the global economy, may exacerbate the challenges facing the German financial system, " Michael Theurer,&nbsp; member of the Executive Board of the Deutsche Bundesbank, <a href="https://www.bundesbank.de/en/press/speeches/statement-on-the-publication-of-the-financial-stability-review-2024-on-21-november-2024-944842">said </a>Thursday.&nbsp;
<h3 class="wp-block-heading">The Drag On Europe: Germany</h3>
Germany, the eurozone&#8217;s largest economy, continues to be the primary drag on the region&#8217;s growth. The Commission said that <a href="https://www.reuters.com/markets/europe/german-economy-underperform-euro-zone-until-2026-eu-forecasts-2024-11-15/#:~:text=German%20growth%20will%20accelerate%20to,again%20in%202025%20and%202026">German GDP will contract</a> by 0.1% in 2024 from a 0.1% expansion previously, the second consecutive year of negative growth.
<img loading="lazy" decoding="async" width="622" height="425" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXehQzZKkSwKLkwpYjl_SHQkZcYprszszgW9FQuYgvR3Wlq1O2fWOtyFjr79PaUnr2IT1v5DY1mN0vGuhYNi584GDNvcC9wIx7YV4HjEENVpBcSzMm9Q5wJKKNCfS9SiSQPduY3X2WfAJ86UXV55abU?key=fNg0o4g5C3yXveD5T_VxYfrX" />
German Annual GDP Growth, 2018-2023, Source: <a href="https://tradingeconomics.com/germany/full-year-gdp-growth">Trading Economics</a>
&#8220;High uncertainty has been weighing on consumption and investment, and the trade outlook has worsened as global demand for industrial goods weakened,&#8221; the Commission said in its Autumn Forecast.
Despite challenges, Germany is still expected to see a moderate recovery of 0.7% in 2025 and 1.3% in 2026, driven by domestic demand and real wage increases. Nonetheless, in its May forecast, the Commission expected the German economy to grow by 1.0% in 2025. Brussels said it expects slowing inflation to boost real household income and private consumption, albeit at a slower pace.
Inflation in Germany rose in October to 2.4% from 1.8% in September but is expected to fall to 2.1% and 1.9% in 2025 and 2026, respectively, on falling energy prices.
<figure class="wp-block-image is-resized"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeXWxgM5C0UKb8TsU59lc_k6lVVB5dS5gNOBNovs5aijc3DugEIio5nLRjN8iTT19OWyCAochhpmXN_XnGgaBT8z7eD1xZBQq5yTa-30Og3zM0cOfo5LXa6koBjWP8pLf1wF-RsyyiiTuZilXT-xp8?key=fNg0o4g5C3yXveD5T_VxYfrX" alt="" style="width:624px" /></figure>
Falling German Energy Inflation, 1-year Range, Source: <a href="https://tradingeconomics.com/germany/energy-inflation">Trading Economics</a>
<h3 class="wp-block-heading">ING Says EC Forecasts Are Optimistic</h3>
Analysts at ING argue that the Commission's forecasts are "optimistic" when considering the structural vulnerability of Europe and Germany's struggling manufacturing sector, especially at a time marked by potential trade escalations for the country's exporters.
More realistic estimates by Consensus Economics predict the EU GDP will expand to 1.1% in 2025 instead of the Commission's 1.3% rate.
Despite the EU being expected to lag behind the US growth rate of 2.1% in 2025, Brussels pointed out in the report a widening economic divergence that could further strain Europe&#8217;s economic landscape.
The economic gap between the US and the eurozone is expected to widen, with the US maintaining solid growth due to strong consumer spending and business investment.&nbsp;
<figure class="wp-block-image is-resized"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfvqANVQO4z8fKbamCxPJZX9nRtavUeLMC_6ebs3O-fsZNQmUiaY0TAweUBrVHETFPy0gU-wg1HRtUWuBkWBNQrAsQBCqzLb-n5l1oStseLuJJgl-aHuItOviwvgKjldLUcFcePKv8MXE8aGzjEMUg?key=fNg0o4g5C3yXveD5T_VxYfrX" alt="" style="width:624px" /></figure>
US vs. EU Consumer Spending, 2021-2024, Source: <a href="https://tradingeconomics.com/united-states/consumer-spending">Trading Economics</a>
The International Monetary Fund <a href="https://www.euronews.com/business/2024/10/22/us-europe-economic-growth-divergences-to-widen-further-imf-warns">(IMF) raised its US growth</a> from 2.6% in July to 2.8% for 2024 and from 1.9% to 2.2% for 2025. In contrast, it lowered the EU GDP from 0.9% to 0.8% and 1.5% to 1.2%, respectively.&nbsp;
<h3 class="wp-block-heading">European Industrials Offer Growth Opportunities</h3>
The IMF has echoed a report by Mario Draghi, a former ECB President. It suggested in September that a wider GDP gap between the US and the EU was "driven mainly "by a more pronounced" <a href="https://www.euronews.com/business/2024/11/14/what-europe-can-learn-from-the-us-about-growth-says-imf-report">slowdown in productivity growth in Europe</a>.&#8221;&nbsp;
Demand for industrial goods in Europe has also weakened, according to the EC report. Investment in the industrial sector fell by over 2.5% in the first half of 2024 owing to high energy prices and soft export demand, hindering the Eurozone recovery.&nbsp;
Yet, research points out that the European industrial sector offers above-median profitability and earnings growth compared to Europe's growth sector. Industrials in Europe command fourfold the weight in the Russell 1000 Growth index, the comparable US tech benchmark.&nbsp;
<figure class="wp-block-image is-resized"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXew4WbZTaYTY70Pd7R3O3LWX5b3C9FUHAcyt7uHzs1b77WVHBch-O3svhaBIESP8Rh6FGgVeCHuJrMsJXdpmLsXotlFaaIxle_ch4IrJZGfRi4YuiN0ktVgBCrpEz1PdKFaye--OedkMX6qP-M_fA?key=fNg0o4g5C3yXveD5T_VxYfrX" alt="" style="width:624px" /></figure>
European Industrials in MSCI vs Tech-Heavy Russell 1000, Source: <a href="https://www.alliancebernstein.com/corporate/en/insights/investment-insights/european-industrials-a-hotbed-of-growth-for-equity-investors.html">Alliance Bernstein</a>
&#8220;Persistent weakness in manufacturing is weighing heavily on growth for countries such as Germany and Italy,&#8221; the IMF said.&nbsp;
<h3 class="wp-block-heading">Lack of Productivity Growth</h3>
Europe must increase public investment to improve its economic prospects and close the growth gap, the IMF stressed in its October World Economic Forum.&nbsp;
It suggested that a 1.5% increase in public investment could boost the EU GDP by 2.5% above estimates by 2030, pointing to higher deficits and government spending reallocation as a solution.
Labour productivity in the industry sector increased by only 0.8% in the Euro Area between Q4 of 2019 and Q1 of 2022, whereas in the US, it rose by 8.8%.&nbsp; A weaker output growth and rising unemployment from higher gas prices following the Russian war against Ukraine impacted the European industry more than the US.
<figure class="wp-block-image is-resized"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfvY77KS6sNqra2_cz8kUgXefGTGjQIWEkw0MBvOv-XQ5VyQMHgQ0wkJqhDHwEriPJ7aP_Y8gwK1H33TCRKCqKcVodgOK-E9jQDVw9hJ8Awtb2kdfNH3XOcvJcouCuPWlVRKU-bPzDFsFyATcaB3F0?key=fNg0o4g5C3yXveD5T_VxYfrX" alt="" style="width:624px" /></figure>
Hourly Labour Productivity Growth by Main Sectors, US vs. EU, Source: <a href="https://www.ecb.europa.eu/press/economic-bulletin/focus/2024/html/ecb.ebbox202406_01~9c8418b554.en.html">Eurostat</a> "Europe is less hard-working, less ambitious, more regulated, and more risk-averse than the US, with the gap between the two continents only getting wider," <a href="https://www.forbes.com/sites/kjartanrist/2024/06/04/will-europe-ever-match-the-us-for-startup-investment-and-growth/">said</a> Norges Bank Investment Management Nicolai Tangen FT in an April interview.
Disclaimer
Any opinions expressed in this article are not to be considered investment advice and are solely those of the authors. European Capital Insights is not responsible for any financial decisions made based on the contents of this article. Readers may use this article for information and educational purposes only.
This article is from an unpaid external contributor. It does not represent Benzinga&#8217;s reporting and has not been edited for content&nbsp;or&nbsp;accuracy.

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