hopTo (OTC:HPTO) Stock, Quote.Headers.trade-ideas

hopTo Inc is a developer of application software that includes application virtualization and cloud computing software for multiple computer operating systems. The company's products are sold under the brand name GO-Global, which is sold to small to medium-sized companies, departments within large corporations, governmental and educational institutions, independent software vendors (ISVs), and value-added resellers (VARs). Its GO-Global includes different product families that GO-Global for Windows, UNIX, and Client. Its geographical segments are the United States, Brazil, Japan, and Other countries.

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Stocks That Hit 52-Week Highs On Monday

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Stocks That Hit 52-Week Lows On Tuesday

hopTo Inc

The CNN Money Fear and Greed index remained in the &#8220;Fear&#8221; zone on Tuesday.
U.S. stocks settled mixed on Tuesday, with the Dow Jones index surging more than 200 points during the session following the release of PPI data. U.S. producer prices rose 0.2% month-over-month in December compared to 0.4% in November, versus market estimates of 0.3%.
Big Tech shares fell on Tuesday, weighing on the Nasdaq index. Shares of Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) fell 1.1%, while Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) lost 2.3% during the session.
Investors are now awaiting the consumer price index report, due to be released today. Economists expect headline CPI to increase 0.3% in December.
Most sectors on the S&amp;P 500 closed on a positive note, with utilities, materials, and financials stocks recording gains on Tuesday. However, communication services and healthcare stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 221 points to 42,518.28 on Tuesday. The S&amp;P 500 rose 0.11% to 5,842.91, while the Nasdaq Composite fell 0.23% at 19,044.39 during Tuesday's session.
Investors are awaiting earnings results from Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), and JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 26.6, the index remained in the &#8220;Fear&#8221; zone on Tuesday, versus a prior reading of 26.7.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
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</ul>
Photo courtesy: Shutterstock

Pre-Market Outlook

NVDA

Dow Rises Over 200 Points Ahead Of Inflation, Earnings Data: Greed Index Remains In 'Fear' Zone

President-elect Donald Trump is set to make history once again with his upcoming inauguration. The event promises to be a grand spectacle, featuring an impressive guest list of billionaires, former presidents, and global leaders.
When Is Trump's Inauguration
The swearing-in ceremony for Trump and Vice President-elect JD Vance is scheduled for Monday at 12 pm EST. However, festivities will begin on Saturday at Trump's Virginia golf club.
How To Watch The Event
Major television networks will broadcast the inauguration live. The White House will also stream the events on its official website, ensuring accessibility for viewers worldwide.
See Also:&nbsp;<a href="https://www.benzinga.com/tech/25/01/42893958/after-apple-halts-hardware-subscription-plans-samsung-unveils-similar-strategy-for-ai-powered-galaxy-smartphones" target="_blank" rel="noreferrer noopener">After Apple Halts ‘Hardware&#8217; Subscription Plans, Samsung Unveils Similar Strategy For AI-Powered Galaxy Smartphones</a>
Biden And Harris: Will They Attend?
President Joe Biden has confirmed his attendance, marking a bipartisan moment despite their contentious history. Vice President Kamala Harris is also expected to attend, continuing the tradition of outgoing vice presidents witnessing the transfer of power.
Former Presidents On The Guest List
Former Presidents Barack Obama, George W. Bush, and Bill Clinton will also attend the ceremony. Their spouses, including Laura Bush and Hillary Clinton, will also be present.
Notably, Michelle Obama will not attend, citing undisclosed reasons.
While Biden's presence signals a return to tradition, history shows many outgoing presidents have skipped their successors' inaugurations. These include John Adams, John Quincy Adams, and Andrew Johnson. Trump himself did not attend Biden's inauguration, citing election disputes.
Billionaires At The Inauguration: Musk, Bezos, And Zuckerberg
Some of the world's richest individuals are set to attend. Tesla CEO Elon Musk, Amazon founder Jeff Bezos, and Meta Platforms CEO Mark Zuckerberg will be seated together on the platform, <a href="https://www.nbcnews.com/politics/donald-trump/elon-musk-jeff-bezos-mark-zuckerberg-attend-trump-inauguration-rcna187642">reported</a> NBC.
Musk took to X and said that he was "honored" by the invitation.
<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">Honored
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1879240313942012123?ref_src=twsrc%5Etfw">January 14, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Musk is a Trump ally and has been instrumental in shaping his administration's efficiency policies. Meanwhile, both Bezos and Zuckerberg, despite past conflicts with Trump, have pledged $1 million each <a href="https://www.benzinga.com/news/24/12/42454227/months-after-trump-threatened-to-put-mark-zuckerberg-in-prison-meta-ceo-donates-1m-to-president-elects-inaugural-event">to the inaugural fund</a>.
The Tesla CEO currently has a net worth of $427 billion, making him the world's wealthiest individual, according to the Bloomberg Billionaire <a href="https://www.bloomberg.com/billionaires/">Index</a>. He is followed by Bezos and Zuckerberg as the second and third rank holders on the index with $237 billion, and $210 billion as their net worth respectively.
World Leaders And Foreign Representatives
Argentine President Javier Milei, who met Trump shortly after his election win, is expected to attend. Trump has also invited Salvadoran President Nayib Bukele and Italian Prime Minister Giorgia Meloni.
According to reports, Bukele's attendance remains uncertain, but Meloni has stated she will attend if her schedule allows.
Chinese President Xi Jinping will also reportedly send an envoy in his place. Former Brazilian President Jair Bolsonaro, who faces legal challenges, could also attend.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#8211; Muito honrado em receber do Presidente dos EUA, <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a>, convite para a sua posse e de seu Vice Presidente <a href="https://twitter.com/JDVance?ref_src=twsrc%5Etfw">@JDVance</a> , no próximo dia 20/JAN. &#8211; Agradeço a meu filho, o Deputado Federal <a href="https://twitter.com/BolsonaroSP?ref_src=twsrc%5Etfw">@BolsonaroSP</a>, pelo excelente trabalho nesta relação com a família do Presidente… <a href="https://t.co/OTc71wxa3P">pic.twitter.com/OTc71wxa3P</a>
&mdash; Jair M. Bolsonaro (@jairbolsonaro) <a href="https://twitter.com/jairbolsonaro/status/1876967301649502389?ref_src=twsrc%5Etfw">January 8, 2025</a></blockquote>
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French politician Eric Zemmour and European Parliament member Sarah Knafo were also reportedly invited, though their attendance remains unconfirmed.
Read Next:
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<li><a href="https://www.benzinga.com/news/25/01/42900737/stephen-king-slams-elon-musks-h-1b-visa-stance-musk-thinks-smart-immigrants-can-stay-the-rest-of-you-washing-dishes-get-lost" target="_blank" rel="noreferrer noopener">Stephen King Slams Elon Musk&#8217;s H-1B Visa Stance: ‘Musk Thinks Smart Immigrants Can Stay – The Rest of You Washing Dishes … Get Lost&#8217;</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Government

Trump Inauguration: From Elon Musk, Jeff Bezos To Barack Obama, George Bush And Bill Clinton — Who All Will Attend?

<h3>Companies Reporting Before The Bell</h3>
• BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) is likely to report quarterly earnings at $11.21 per share on revenue of $5.53 billion. 
• Valens Semiconductor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLN#NYSE">VLN</a>) is likely to report earnings for its third quarter. 
• JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) is likely to report quarterly earnings at $4.04 per share on revenue of $41.56 billion. 
• Goldman Sachs Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) is estimated to report quarterly earnings at $8.27 per share on revenue of $12.33 billion. 
• Citigroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>) is expected to report quarterly earnings at $1.24 per share on revenue of $19.41 billion. 
• Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) is projected to report quarterly earnings at $1.54 per share on revenue of $4.63 billion. 
• Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) is projected to report quarterly earnings at $1.26 per share on revenue of $20.28 billion. 
<h3>Companies Reporting After The Bell</h3>
• Home BancShares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOMB#NYSE">HOMB</a>) is expected to report quarterly earnings at $0.52 per share on revenue of $256.67 million. 
• Synovus Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNV#NYSE">SNV</a>) is likely to report quarterly earnings at $1.15 per share on revenue of $566.76 million. 
• H.B. Fuller (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUL#NYSE">FUL</a>) is projected to report quarterly earnings at $0.92 per share on revenue of $904.32 million. 
• Concentrix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNXC#NASDAQ">CNXC</a>) is likely to report quarterly earnings at $3.07 per share on revenue of $2.44 billion. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

CNXC

HOMB

Earnings Scheduled For January 15, 2025

Investors are buzzing with speculation about the Federal Reserve possibly raising interest rates in 2025. This comes despite recent aggressive rate cuts. The conversation is heating up around a potential policy reversal.
What Happened: While the likelihood of a rate hike remains at zero according to CME Group's FedWatch, the topic is gaining traction among investors. The debate centers on whether the barriers to increasing rates are more substantial than those to reducing them, The Wall Street Journal <a href="https://www.wsj.com/finance/investing/what-if-the-fed-u-turns-and-raises-rates-this-year-f180855b">reported</a> on Wednesday.
Historically, the Fed has signaled major policy shifts well in advance, with only one instance of switching from cuts to hikes within a year since 1994. This occurred in 1998, following the Long-Term Capital Management crisis.
Some analysts believe the Fed has learned from past inflation shocks and may act swiftly if necessary. Ed Al-Hussainy of Columbia Threadneedle Investments noted, "It's a paper barrier, and they will break through it quickly if the data becomes overwhelming."
Investors considering the possibility of rate hikes might look into short-dated Treasurys. However, the market&#8217;s volatility and potential for loss remain significant concerns.
Why It Matters: The speculation surrounding potential rate hikes comes on the heels of a strong jobs report from December, which has led Wall Street analysts to reconsider their interest rate forecasts. Goldman Sachs economist David Mericle <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42944934/wall-street-slashes-interest-rate-cut-bets-after-jobs-data-are-hikes-back-on-the-table">adjusted his projections</a> for Fed policy in 2025, reducing expected rate cuts due to the robust employment figures.
Moreover, the Federal Reserve&#8217;s December meeting minutes revealed uncertainty about <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">future rate cuts</a>, as noted by Jeffrey Roach, chief economist for LPL Financial. The Fed&#8217;s use of the word &#8220;uncertain&#8221; multiple times underscores the difficulty in mapping out a clear path for interest rates amid unpredictable economic conditions.
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Photo courtesy of the Federal Reserve
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Macro Economic Events

Economics

Federal Reserve Policy Reversal? Buzz Around 2025 Rate Hikes Gains Momentum: 'It's A Paper Barrier...Will Break Through It Quickly If The Data Becomes Overwhelming'

Nokia and Zain KSA to implement unique indoor solutions for enterprise customers
<ul>
<li>First 4G/5G Femtocell solution in the Middle East and Africa region.</li>
<li>Enhances end user experiences, enriches B2B offering and reduces time to market.</li>
<li>Provides robust and secure connectivity for enterprises across the Kingdom.</li>
</ul>

Nokia And Zain KSA Launch First 4G/5G Femtocell Solution In The MEA Region

Bank of Japan Governor Kazuo Ueda indicated Wednesday that the central bank is prepared to raise interest rates if economic and price conditions continue to improve, as Japan&#8217;s 10-year government bond yields touched their highest level since 2011 amid mounting speculation of policy tightening.
What Happened: The yield on Japan&#8217;s benchmark 10-year government bonds surged to around 1.25% on Wednesday, reaching levels not seen since April 2011, as investors positioned themselves ahead of next week&#8217;s crucial BOJ policy meeting.
&#8220;We are currently analyzing data thoroughly and will compile the findings in our quarterly outlook report,&#8221; Ueda said at a gathering of regional banks, according to Reuters, noting that the BOJ will discuss potential rate hikes at next week&#8217;s meeting. 
His comments followed similar remarks from BOJ Deputy Governor Ryozo Himino, strengthening market expectations of an imminent policy shift.
The potential policy change comes amid rising inflation concerns. Peter Schiff, a prominent economist, highlighted on social media platform X that Japan&#8217;s inflation rate has reached 3.4%, significantly exceeding the BOJ&#8217;s 2% target. 
<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">For over a decade, the goal of the Bank of Japan was to raise the official <a href="https://twitter.com/hashtag/inflation?src=hash&amp;ref_src=twsrc%5Etfw">#inflation</a> rate to 2%. It&#39;s now 3.4% and headed much higher. The Japanese were far better off and the government had a lot less debt when inflation was below 2%. The BOJ should have left well enough alone.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1879145071045640462?ref_src=twsrc%5Etfw">January 14, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Peter Boockvar, Chief Investment Officer of Bleakley Financial Group, emphasized the broader implications, noting that Japanese Government Bond yields are crucial for understanding global rate dynamics.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">A debate on the direction of the US 10 yr yield cannot be complete without talking about the continued rise in JGB yields. The BoJ is the architect of modern day QE and ZIRP (taken a step further with NIRP, along with European central banks) that had a foot on the neck of rates… <a href="https://t.co/t8Ec5hRLjt">pic.twitter.com/t8Ec5hRLjt</a>
&mdash; Peter Boockvar (@pboockvar) <a href="https://twitter.com/pboockvar/status/1879199645802340794?ref_src=twsrc%5Etfw">January 14, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/asia/25/01/42993441/south-korean-president-yoon-suk-yeol-arrested-kospi-edges-higher-despite-political-upheaval-won-stable">South Korean President Yoon Suk Yeol Arrested — KOSPI Edges Higher Despite Political Upheaval, Won Stable</a>
Why It Matters: These policy discussions unfold in the shadow of August&#8217;s market turbulence, when the BOJ&#8217;s rate adjustment sparked widespread volatility. The Nikkei 225 suffered its sharpest single-day drop since 1987, and the unwinding of yen-based carry <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40199218/yen-carry-trade-is-only-halfway-unraveled-wall-street-analyst-says-how-much-more-ro">trades reverberated across global financial markets</a>.
For U.S. investors, the BOJ&#8217;s potential policy shift holds significant implications, given Japan&#8217;s historical influence on global bond yields and currency markets. On Wednesday, the U.S. dollar traded at 157.38 Japanese yen, underscoring the prevailing market uncertainty surrounding the BOJ&#8217;s next moves.
Ueda identified two key factors influencing the timing of any rate hike: the new U.S. administration&#8217;s economic policies and the momentum of this year&#8217;s wage negotiations in Japan, which he noted have shown positive indicators based on recent regional branch manager meetings.
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<li><a href="https://www.benzinga.com/news/25/01/42993713/trump-2-0-could-be-thwarted-by-inflation-mohamed-el-erian-notes-ahead-of-cpi-data-release">Trump 2.0 Could Be Thwarted By Inflation, Mohamed El-Erian Notes Ahead Of CPI Data Release</a></li>
</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

BOJ's Kazuo Ueda Signals Rate Hikes, Japanese Bond Yields Rise To 14-Year High—What The Recent Past Tells Us About Impact On US Markets

Over 1.3 million electric vehicles were sold in the U.S. in 2024, marking a growth of 7.3% year-on-year, and accounting for 8.1% of total auto sales, according to data from automotive research company Kelley Blue Book. 
What Happened: EV sales in the U.S. benefited from strong incentives from automakers, excellent lease deals, and federal and state incentive programs in 2024, the firm said, while adding that companies like General Motors also added &#8220;excellent&#8221; new products.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) was the most-sold EV brand nameplate, followed by Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>). The best-selling EV models, however, came from across different brand names.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="831" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/15012502/0DWlR-top-selling-evs-in-2024-1024x831.png" alt="" class="wp-image-733814" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/15012502/0DWlR-top-selling-evs-in-2024-1024x831.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/15012502/0DWlR-top-selling-evs-in-2024-300x243.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/15012502/0DWlR-top-selling-evs-in-2024-768x623.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/15012502/0DWlR-top-selling-evs-in-2024.png 1240w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
The top-selling EV model was, unsurprisingly, Tesla&#8217;s Model Y SUV. The company sold 372,613 units of the Model Y in the 12 months, grabbing a remarkable 28.6% market share.
Model Y was seconded by Tesla&#8217;s mass-market sedan &#8211; the Model 3. Tesla launched the <a href="https://www.benzinga.com/news/24/02/36921718/youtuber-marques-brownlee-reviews-refreshed-model-3-calls-it-teslas-most-important-car-i-am-impresse">refreshed Model 3 in the U.S. </a>in Jan. 2024 and 189,903 units of the vehicle were sold, giving it a 14.6% share of the market.
Dearborn-based Ford sold 51,745 units of its Model Y rival Mustang Mach-E and 33,510 units of its Cybertruck rival F-150 Lightning, giving them the 3rd and 6th position in the best-selling EV list, respectively. 
The fourth best-selling EV in the U.S. after the Teslas and the Ford SUV, comes from South Korean automaker Hyundai. Hyundai sold 44,400 units of its Ioniq 5 SUV, placing it below the Mach-E but above Tesla&#8217;s stainless steel truck Cybertruck. Tesla <a href="https://www.benzinga.com/25/01/42967593/cybertruck-sales-rise-in-2024-weighed-down-on-tesla-model-s-deliveries-in-us-shows-data">sold 38,965 units of the</a> Cybertruck last year. 
Japanese automaker Honda also found a place in the best-selling EV list with its Prologue. The company sold 33,017 units of the Prologue, cementing its 7th position on the list. 
General Motors&#8217; Chevrolet Equinox EV and the Cadillac Lyriq also made it onto the list with over 28,000 units sold of each. GM started delivering the Equinox EV only in May. 
California-based Rivian&#8217;s R1S SUV took the tenth spot with nearly 27,000 units sold despite its high price point of about $75,000. 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="723" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/15012218/su3s1-market-share-of-top-selling-evs-in-2024-1024x723.png" alt="" class="wp-image-733812" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/15012218/su3s1-market-share-of-top-selling-evs-in-2024-1024x723.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/15012218/su3s1-market-share-of-top-selling-evs-in-2024-300x212.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/15012218/su3s1-market-share-of-top-selling-evs-in-2024-768x543.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/15012218/su3s1-market-share-of-top-selling-evs-in-2024.png 1240w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
What&#8217;s Ahead: Cox Automotive expects EV sales to grow further in 2025 despite uncertainties around policy under the incoming Trump administration. 
Cox noted that over 15 new models are expected to enter the market and coupled with better charging infrastructure and incentives from automakers, EV sales will rise and account for 10% of total vehicle sales in 2025. 
Policy changes under the new administration will likely not be put into effect soon, allowing prospective buyers to make their purchases, it said. 
The research firm is now <a href="https://www.benzinga.com/25/01/42762224/bev-market-share-will-increase-across-us-china-europe-in-2025-says-sp-global-mobility">expecting 2025</a> to be a record year for EV volume. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
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Photo courtesy: Tesla

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Econ #s

France Harmonised Index of Consumer Prices (MoM) For December 0.2% Vs. 0.2% Est.; -0.1% Prior

France Consumer Price Index (MoM) For December 0.2% Vs. 0.2% Est.; -0.1% Prior

According to&nbsp;Reuters,&nbsp;Nippon Steel&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/NPSCY#OTC">NPSCY</a>) is eager to engage&nbsp;with&nbsp;Donald Trump&#8216;s incoming administration to finalize a takeover of&nbsp;U.S. Steel&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>). This comes after&nbsp;President Joe Biden blocked a&nbsp;$14.9 billion acquisition, leading to lawsuits filed by both companies.
What Happened: In&nbsp;an opinion <a href="https://www.wsj.com/opinion/nippon-steel-and-us-steel-why-were-suing-biden-over-deal-blocking-bb6ed1e1?mod=opinion_lead_pos11">piece</a> in the&nbsp;Wall Street Journal on Wednesday,&nbsp;Takahiro Mori, vice chairman of Nippon Steel, expressed the company&#8217;s determination to pursue the transaction.
&#8220;Nippon Steel and U.S. Steel&nbsp;will do whatever it takes&nbsp;to close this transaction,&#8221; Mori stated, emphasizing their strong legal position and anticipation of court proceedings.
Trump is set to assume&nbsp;office on Monday. Enforcement of&nbsp;Biden&#8217;s order, which mandated the unwinding of the deal within 30 days, has been postponed until June due to the legal challenge. Mori highlighted the importance of&nbsp;partnerships with the new administration&nbsp;to bolster U.S. Steel for the benefit of American stakeholders.
Meanwhile,&nbsp;Cleveland-Cliffs&nbsp;is collaborating with&nbsp;Nucor&nbsp;to potentially present an all-cash bid for U.S. Steel, as reported by Reuters. Mori reiterated Japan&#8217;s alliance with the U.S. and dismissed national security concerns regarding the takeover.
Why It Matters: The legal battle between&nbsp;Nippon Steel&nbsp;and the Biden administration over the blocked acquisition of&nbsp;U.S. Steel&nbsp;has been ongoing. In early January,&nbsp;<a href="https://www.benzinga.com/markets/25/01/42870745/nippon-steel-ceo-slams-tariffs-defends-15-billion-us-steel-merger-amid-national-security-concerns-we-never-think-that-industry-can-become-stronger-through-tariffs-alone">Nippon Steel CEO Eiji Hashimoto</a>&nbsp;criticized tariffs as insufficient for strengthening the U.S. steel industry and defended the merger, arguing it would enhance U.S. national security by creating a more robust company.
The lawsuit filed by Nippon Steel challenges the Biden administration&#8217;s decision, claiming it violated constitutional due process rights. Legal experts suggest that this lawsuit might extend the timeline for the deal, allowing for alternative deal structures. The opposition from Biden was reportedly aimed at securing union support in Pennsylvania, a key state in the political landscape.
Price Action: United States Steel was up by 1.37% in overnight trading on Robinhood at 2:43 am ET.
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image by Poetra.RH via Shutterstock

NPSCY

Nippon Steel Eyes Trump Administration To Revive $15B US Steel Deal Blocked By Biden: 'We'll Do Whatever It Takes'

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