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Risk sentiment edged higher on Monday, rebounding after two consecutive losing sessions and the worst week for the U.S. stock market since early September, as pressures from dollar <a href="https://www.benzinga.com/news/econ-s">and Treasury yields faded.</a>
All 11 sectors of the S&amp;P 500 traded in positive territory, with consumer discretionary stocks outperforming, thanks to a 7% surge in Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>). 
The electric vehicle maker's rally followed reports the incoming Donald Trump administration plans to prioritize a federal framework for fully autonomous vehicles. According to <a href="https://www.bloomberg.com/news/articles/2024-11-17/trump-team-said-to-want-to-ease-us-rules-for-self-driving-cars">Bloomberg</a>, the Department of Transportation could soon place this framework at the top of its agenda.
The tech-heavy Nasdaq 100 outperformed both the S&amp;P 500 and the Dow Jones Industrial Average on Monday. Gains in commodities also stood out, as gold, crude oil natural gas prices all posted strong rebounds amid escalating geopolitical tensions between <a href="https://www.benzinga.com/news/econ-s/24/11/42038707/gold-natural-gas-prices-rally-us-russia-tensions-escalate-over-ukraines-long-range-strikes">the U.S. and Russia. </a>
The U.S. dollar paused its recent rally after marking seven consecutive weeks of gains through Friday. Treasury yields, meanwhile, were flat, as the session lacked significant economic data or fresh comments from Federal Reserve officials to provide market direction.
The cryptocurrency market remained on fire, with Bitcoin (CRYPTO: BTC) surging 1.5% past the $92,000 mark and setting the stage for a potential record-high close. Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) also advanced, rising 3% on the day. 
<h1 class="wp-block-heading">Monday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,547.68</td>
<td>0.8%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,315.20</td>
<td>0.5%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,897.81</td>
<td>0.5%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>43,504.83</td>
<td>0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:45 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent111824&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.4% to $587.87.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;flattened at $434.49.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.7% to $499.91.</li>
<li>The&nbsp;iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.5% to $229.72.</li>
<li>The&nbsp;Consumer Discretionary Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) outperformed, rising 1.2%. The&nbsp;Health Care Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) lagged, up 0.1%.</li>
</ul>
<h1 class="wp-block-heading">Monday&#8217;s Stock Movers</h1>
<ul>
<li>Redfin Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDFN#NASDAQ">RDFN</a>) fell 3.7% after<a href="https://www.benzinga.com/real-estate/reit/24/11/42044923/goldman-sachs-turns-bearish-on-redfin-affordability-could-weigh-on-a-housing-recovery"> Goldman Sachs downgraded</a> the stock from &#8220;Neutral&#8221; to &#8220;Sell.&#8221;</li>
<li>Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) rallied 18% after the company announced plans to submit a compliance proposal to Nasdaq by Monday to avoid delisting.</li>
<li>Affirm Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) rose 9.3% on Monday after the company revealed an expanded partnership with online travel agency Priceline, under which Affirm will serve as the pay-over-time provider for Priceline Partner Solutions.</li>
<li>Uber Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NASDAQ">UBER</a>) dropped more than 7% as concerns over potential regulations on fully autonomous vehicles raised questions about the company's business model.</li>
<li>Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) declined 5% due to profit-taking after an 11% rally on Friday, which had pushed the AI-defense company's year-to-date gains to nearly 290%.</li>
</ul>
Read Now:
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<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42042411/inflation-could-surge-to-3-if-trump-applies-universal-tariffs-goldman-sachs">Inflation Could Surge To 3% If Trump Applies Universal Tariffs: Goldman Sachs</a></li>
</ul>
Photo: Shutterstock

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Select Sector SPDR-Consumer Discretionary

US Stocks Rebound, Tesla Rallies, Bitcoin Soars Above $92,000: What's Driving Markets Monday?

WIIM

Uber shares are trading lower. Weakness may be due to competition concerns on reports indicating President-elect Donald Trump plans to ease restrictions for self-driving vehicles.

SRTS

Sensus Healthcare shares are trading higher after HC Wainwright maintained a Buy rating on the stock and raised its price target form $10 to $11.

HSDT

Helius Medical Technologies shares are trading lower after the company announced it initiated the process to explore a range of strategic alternatives.

CLDI

Calidi Biotherapeutics shares are trading higher after the company announced it presented data at the International Oncolytic Virotherapy Conference and the Society for Immunotherapy of Cancer Annual Meeting.

Shares of Warner Bros. Discovery, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) are trading higher Monday. The company said it <a href="https://www.benzinga.com/24/11/42044510/warner-bros-stock-jumps-after-securing-11-year-nba-deal-extension">has reached a deal</a> with the National Basketball Association. The agreement will extend the media partnership for an additional 11 years. Warner Bros also said that it has resolved all recent disputes related to the NBA's media agreement.
This development has made Warner Bros. our Stock of the Day.
Warner Bros sued the NBA in July. This occurred after the league gave broadcast rights to Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>), ESPN, and Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>). This was to be an 11-year deal worth $77 billion.
Warner Bros said this was a violation of their agreement. A clause in the contract stated that the company had the right to match offers from a third party.
The chart of Warner Bros illustrates an important technical analysis dynamic that is common in the financial markets. Certain price levels can have more importance than others. As you can see on the chart, this has been the case with the $9.25 level for the stock.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="526" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18125142/wbd-1024x526.webp" alt="" class="wp-image-653534" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18125142/wbd-1024x526.webp 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18125142/wbd-300x154.webp 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18125142/wbd-768x394.webp 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18125142/wbd-1536x788.webp 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18125142/wbd.webp 1584w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read Also: <a href="https://www.benzinga.com/news/econ-s/24/11/42038707/gold-natural-gas-prices-rally-us-russia-tensions-escalate-over-ukraines-long-range-strikes">Gold, Natural Gas Prices Rally As US-Russia Tensions Escalate Over Ukraine&#8217;s Long-Range Strikes</a>
In November 2023, it was a support level. Then, in March, it turned into resistance.
This shift occurred because traders and investors who previously bought shares near the support level experienced losses when the stock price broke below that level. As the price attempted to recover, these investors sold their positions at the $9.25 level, creating resistance.
So, they placed sell orders at the same price that had been support. There were so many of these orders that it caused resistance to form and put a top on the price.
But when the stock broke through the resistance and moved higher, many of the traders and investors who sold at $9.25 decided to buy their shares back at the same price they were sold for.
When the stock dropped back to $9.25, they placed buy orders. There were so many of these orders that if reformed support at the same price that was resistance.
Successful traders know that it is important to understand a company's fundamentals. But they also understand that psychology can influence prices too. Remorseful buyers can turn what had been support into resistance. Regretful sellers can turn what had been resistance into support.
Read Next: 
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<li><a href="https://www.benzinga.com/24/11/42028342/blackwell-backfires-nvidias-ai-chips-struggle-with-server-overheating-impacting-meta-microsoft-and-musks-xai-data-centers">Nvidia&#8217;s Blackwell Chips Are Extra Toasty, Server Overheating Issues Impact Meta, Microsoft And Elon Musk&#8217;s xAI</a></li>
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Photo: Shutterstock

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Stock Of The Day: Warner Bros. Bounces From Support As NBA Agreement Finalized

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MSTR

MicroStrategy shares are trading higher after the company acquired 51,780 Bitcoins.

UBS analyst Jon Windham maintains Li-Cycle Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LICY#NYSE">LICY</a>) with a Neutral and raises the price target from $2 to $2.25.

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LICY

UBS Maintains Neutral on Li-Cycle Holdings, Raises Price Target to $2.25

The Ohio Healthy Alternatives Association (OHAA) has <a href="https://www.prnewswire.com/news-releases/ohio-small-business-owners-and-workers-oppose-sb-326-302307438.html">called</a> on state senators to oppose Senate Bill 326, a proposed regulation targeting hemp products. OHAA, which represents nearly 3,000 small businesses and over 26,000 workers, warns that the bill could have severe economic repercussions on the industry. 
Introduced by State Senator Steve Huffman (R),<a href="https://www.benzinga.com/government/regulations/24/11/41908034/ohio-lawmaker-moves-to-ban-hemp-products-citing-youth-safety-concerns"> SB 326 </a>seeks to impose stricter THC limits than the 2018 Farm Bill, reducing the allowable delta-9 THC content to just 0.5 milligrams per serving. Proponents argue that the bill aims to safeguard public health, particularly for minors, mirroring recent restrictive measures in states like <a href="https://www.benzinga.com/topic/california-cannabis">California</a>. However, critics say it goes too far, potentially removing many popular hemp products, such as full-spectrum CBD oils and THC beverages from the shelves in <a href="https://www.benzinga.com/topic/ohio-cannabis">Ohio</a>.
&#8220;Senator Huffman said, &#8216;he did not have any data as to how many could be impacted.'&#8221; OHAA noted, &#8220;SB 326 is rushed, flawed and catastrophic for our members.&#8221; They estimate the bill could lead to over 20,000 job losses and financial disruptions, including defaulted leases and unpaid vendor debts.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/11/41755819/ohios-cannabis-market-surges-reaching-143m-in-just-4-months">Ohio&#8217;s Cannabis Market Surges, Reaching $143M In Just 4 Months</a>
Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a>
&#8220;While over 36 states including&nbsp;Georgia,&nbsp;Tennessee,&nbsp;North Carolina, and&nbsp;Florida&nbsp;have successfully chosen to regulate this much needed industry, SB 326 proposes a flawed total ban bill that will cause systematic chaos overnight,&#8221; adds the statement.
The debate over the bill comes as Ohio's cannabis market thrives, with recreational sales reaching $143 million within four months of legalization. The contrast between support for regulated cannabis and a potential hemp crackdown highlights ongoing regulatory challenges.
<h3 class="wp-block-heading">Controversial Alliance</h3>
OHAA is part of the American Healthy Alternatives Association (AHAA), a national hemp advocacy group. On their <a href="https://myhealthyusa.org">website</a>, OHAA is urging Ohio Governor Mike DeWine (R) to veto SB 326, while simultaneously celebrating a<a href="https://www.benzinga.com/markets/cannabis/24/06/39243424/desantis-vetoes-bill-that-would-regulate-intoxicating-hemp-in-lifeline-to-industry-as-he-bashes-"> recent victory</a> in Florida, where Governor Ron DeSantis<a href="https://www.benzinga.com/markets/cannabis/24/06/39243424/desantis-vetoes-bill-that-would-regulate-intoxicating-hemp-in-lifeline-to-industry-as-he-bashes-"> vetoed similar legislation</a> restricting hemp products.
"Thank you Gov. DeSantis for working with us," reads OHAA's website. DeSantis has a strong stance against adult-use cannabis legalization and played an instrumental role in blocking a marijuana legalization ballot initiative.
But unlike De Santis, DeWine has previously <a href="https://www.benzinga.com/markets/cannabis/24/04/38209145/gop-gov-mike-dewine-wants-to-ban-public-cannabis-smoking-sale-of-delta-8-intoxicating-hemp">voiced support</a> for tighter regulations on hemp-derived products, citing concerns about public health and youth safety.
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<li>Read Next: <a href="https://www.benzinga.com/government/regulations/24/11/41908034/ohio-lawmaker-moves-to-ban-hemp-products-citing-youth-safety-concerns">Ohio Lawmaker Moves To Ban Hemp Products, Citing Youth Safety Concerns</a></li>
</ul>
COVER: OHAA website

Cannabis

Markets

Advocacy Group Calls Ohio Senate's Hemp Ban 'Catastrophic,' Push For Governor's Veto

SNFCA

Security National Financial shares are trading higher after the company announced a year-over-year increase in Q3 financial results.

UBS analyst Brian Meredith maintains Assured Guaranty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGO#NYSE">AGO</a>) with a Neutral and raises the price target from $87 to $95.

UBS Maintains Neutral on Assured Guaranty, Raises Price Target to $95

JTAI

Jet.AI shares are trading higher after the company announced it believes it regained Nasdaq compliance.

SILO

Silo Pharma shares are trading lower. The company announced results from a preclinical study on SPC-15.

UBS analyst Josh Silverstein maintains Ovintiv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OVV#NYSE">OVV</a>) with a Buy and raises the price target from $57 to $59.

UBS Maintains Buy on Ovintiv, Raises Price Target to $59

Core Scientific, Inc. - Class A Common Stock

CORZ

NVDA

Core Scientific And Port Muskogee Break Ground On 100 MW HPC Data Center To Host CoreWeave's NVIDIA GPUs; Part Of $8.7B, 12-Year Contract Covering 500 MW Of HPC Hosting, With Operations Set For 2026

Today, <a href="http://www.amd.com/">AMD</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) showcased its ongoing high performance computing (HPC) leadership at Supercomputing 2024 by powering the world's fastest supercomputer for the sixth straight <a href="http://www.top500.org/">Top500</a> list.
The El Capitan supercomputer, housed at Lawrence Livermore National Laboratory (LLNL), powered by <a href="https://www.amd.com/en/products/accelerators/instinct/mi300/mi300a.html">AMD Instinct&#x2122; MI300A APUs</a> and built by Hewlett Packard Enterprise (HPE), is now the fastest supercomputer in the world with a High-Performance Linpack (HPL) score of 1.742 exaflops based on the latest <a href="https://top500.org/">Top500 list</a>. Both El Capitan and the Frontier system at Oak Ridge National Lab claimed numbers 18 and 22, respectively, on the Green500 list, showcasing the impressive capabilities of the AMD EPYC processors and AMD Instinct GPUs to drive leadership performance and energy efficiency for HPC workloads.

AMD Says El Capitan, Powered By The AMD Instinct MI300A APU, Becomes The Second AMD Supercomputer To Surpass The ExaScale Barrier, Placing #1 On The Top500 List; Continues Setting The Standard For HPC, Powering 50% Of The Top Ten Fastest And 40% Of The Ten Most Energy Efficient Supercomputers In The World

UBS analyst Josh Silverstein maintains Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) with a Neutral and lowers the price target from $59 to $58.

UBS Maintains Neutral on Occidental Petroleum, Lowers Price Target to $58

Cisco Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) inked a 5.5-year Whole Portfolio Agreement (WPA) with MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), granting MGM access<a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n42042991/cisco-and-mgm-resorts-international-sign-multi-year-agreement" rel="noreferrer noopener"> to Cisco&#8217;s software portfolio</a>.
The portfolio includes cybersecurity, software-defined networking, WAN, digital experience assurance, and data center services.
This collaboration aims to enhance the guest and employee experience across all MGM Resorts properties.
The agreement will automate MGM Resorts&#8217; network, enabling future location services and next-gen machine learning applications in gaming and hospitality, enhancing guest engagement.
Cisco&#8217;s technology will also ensure uptime and security, critical for delivering exceptional guest experiences in MGM&#8217;s 24/7 operations.
Branden Newman, Chief Technology Officer, MGM Resorts International, said, &#8220;The new agreement with Cisco will give our employees the technology, speed and agility they need as we continue to deliver amazing guest experiences at all MGM Resorts&#8217; destinations.&#8221;
Marco Mohajer, President, Technologent added, &#8220;Equipped with data from across the business, we can predict and proactively address MGM Resorts&#8217; technology and communication needs to deliver an exceptional customer experience.&#8221;
Last week, Cisco reported revenue of $13.84 billion for the quarter, beating analyst estimates of $13.77 billion. Adjusted earnings per share came in at 91 cents, exceeding the expected 87 cents per share, <a target="_blank" href="https://www.benzinga.com/analyst-ratings/price-target/24/11/41981019/cisco-shares-are-dropping-today-whats-going-on" rel="noreferrer noopener">according to&nbsp;Benzinga Pro</a>.
This marks the tenth consecutive quarter that Cisco has topped estimates for revenue and earnings.
Investors can gain exposure to the stock via&nbsp;iShares U.S. Telecommunications ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYZ#BATS">IYZ</a>) and&nbsp;First Trust NASDAQ Cybersecurity ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CIBR#NASDAQ">CIBR</a>).
Price Action: CSCO shares are up 0.59% at $57.80 at the last check Monday.
Image via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/news/earnings/earnings-beats/24/11/41977825/cisco-systems-analysts-raise-forecasts-on-meaningful-traction-across-3-ai-investments" target="_blank" rel="noreferrer noopener">Cisco Systems Analysts Raise Forecasts On &#8216;Meaningful Traction&#8217; Across 3 AI Investments</a></li>
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Contracts

CIBR

CSCO

iShares Dow Jones US Telecommunications Sector Index Fund

Cisco's 5.5-Year Pact With MGM Resorts Brings Next-Gen Tech To The Casino Floor And Beyond

UBS analyst Josh Silverstein maintains Murphy Oil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUR#NYSE">MUR</a>) with a Neutral and lowers the price target from $39 to $38.

UBS Maintains Neutral on Murphy Oil, Lowers Price Target to $38

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