Latest news for Metalite Resources (OTC:JNCCF) Stock

Metalite Resources Inc is in the exploration for mineral resources in New South Wales, Australia. The company's project includes Arthur's Seat. The company also has an interest in an advanced-stage critical metals project located in Flett and Angus townships, Ontario.

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Metalite Resources Inc

Needham analyst James Ricchiuti reiterates 3D Sys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DDD#NYSE">DDD</a>) with a Hold.

News

Reiteration

Analyst Ratings

Needham Reiterates Hold on 3D Sys

Amid growing economic concerns, analysts are sounding alarms over the potential <a href="https://www.benzinga.com/24/11/42178994/trump-says-he-will-impose-25-tariffs-on-canada-mexico-on-first-day-of-office-and-extra-tariffs-on-china-until-they-pay-attention">repercussions of tariffs </a>proposed by the incoming Trump administration. These tariffs, aimed at addressing trade imbalances, could inadvertently lead to a stronger dollar, affecting consumers and businesses alike.
Tariffs Could Hurt Customers
Adam Posen, president of the&nbsp;Peterson Institute for International Economics, highlighted that Trump&#8217;s economic strategies, including tariffs and tax cuts, are likely to elevate the dollar&#8217;s value during <a href="https://www.cnbc.com/video/2024/11/28/most-of-trumps-economic-plans-will-push-up-dollar-us-think-tank.html">CNBC&#8217;s</a> &#8220;Squawk Box Asia&#8221;&nbsp;on Thursday. This could result in a minimal reduction in the trade deficit, despite efforts to decrease it.
While it is unclear how these tariffs will affect the prices of goods, many companies are seeing signs of waning demand among buyers, the WSJ <a href="https://www.wsj.com/business/retail/trump-tariffs-warnings-retailer-sales-fc270ca9">reported</a> on Friday. Companies like Jolie Skin, and Home Furnishings are urging customers to buy their products before a possible hike in their prices once the tariffs kick in.
Earlier in October, billionaire investor&nbsp;Mark Cuban&nbsp;and Barack Obama-era Treasury Secretary&nbsp;Lawrence Summers warned that <a href="https://www.benzinga.com/markets/equities/24/10/41568486/mark-cuban-highlights-trumps-potential-to-ruin-christmas-but-he-might-also-end-up-spoiling-the-p">tariffs proposed by Trump</a>&nbsp;could significantly increase the cost of <a href="https://www.benzinga.com/news/24/10/41590247/trumps-trade-proposals-could-play-the-role-of-the-grinch-warns-obama-era-treasury-secretary-larry-su">Christmas holiday shopping</a> for American families.
See Also:&nbsp;<a href="https://www.benzinga.com/24/11/42206056/bitcoin-ethereum-dogecoin-tumble-as-diamond-hands-lock-in-gains-analyst-anticipates-strong-buyback-pressure-to-follow-sell-pressure?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Tumble As &#8216;Diamond Hands&#8217; Lock In Gains: Top Analyst Anticipates BTC Rebound</a>
Corie Barry, CEO of&nbsp;Best Buy Co. Inc., warned that the burden of tariffs would likely translate into higher consumer prices, as <a href="https://fortune.com/2024/11/27/ceos-warning-trump-tariffs-will-raise-prices-for-consumers-best-buy/">reported</a> by the Fortune.
Jesper Brodin, CEO of&nbsp;Ingka Group, which owns&nbsp;Ikea, echoed the sentiments while talking to <a href="https://edition.cnn.com/2024/11/27/business/ikea-prices-trump-tariffs-intl/index.html">CNN </a>and mentioned that high tariffs have historically not been beneficial, complicating efforts to keep prices low for consumers. 
"Tariffs make it more difficult for us to maintain the low prices and be affordable for many people, which in the end is our goal," Brodin said.
Trump recently declared his intention to impose a <a href="https://www.benzinga.com/government/regulations/24/11/42213610/hasbro-best-buy-brace-as-trumps-tariffs-loom-could-retail-margins-hit-rock-bottom">25% tariff on goods</a> from Mexico and Canada, citing border security concerns. He also announced additional tariffs on Chinese imports to address the flow of fentanyl into the U.S.&nbsp;
Stronger Dollar Might Not Help That Much With Deficit
Commodities like oil, timber, and metals are often priced in U.S. dollars. When the dollar strengthens, these goods become more expensive in other currencies. As a result, the rising costs of energy and raw materials contribute to higher prices for a wide range of products, driving inflation worldwide.
A stronger domestic currency &#8211; in this case, the U.S. dollar &#8211; usually helps in making imports cheaper and exports more expensive, assuming other conditions remain the same. However, in some cases, suppliers and sellers might pass on some of the increase in their input costs to the buyer &#8211; in this case, their customers in the U.S.
Even so, Posen says a stronger dollar could still not prove to be enough to help bridge the trade deficit.
&#8220;The main point is that even if you push up tariffs and you are trying to reduce the trade deficit, when you do so you tend to push up the dollar,&#8221; said Posen.
&#8220;If you cut taxes and you don&#8217;t fund it fully with other other revenues or other spending cuts, you tend to push up the dollar. If you are busy creating global uncertainty, which is a stated strategic tool of this incoming administration, you tend to push up the dollar.&#8221;
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42196217/will-gamestop-amc-follow-microstrategy-rumble-into-bitcoin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Will GameStop, AMC Follow MicroStrategy, Rumble Into Bitcoin?</a></li>
</ul>
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.
Photo: Anna Moneymaker via Shutterstock

Analyst Color

Macro Economic Events

Economics

Markets

General

Trump Tariffs Could Hit Pockets Of Consumers, Retailers Urge Customers To Shore Up Purchases: Experts Warn A Stronger Dollar Might Still Not Make Up For Deficit

Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) could emerge as a more attractive investment option compared to Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) as <a href="https://www.benzinga.com/24/11/42227834/cathie-wood-buys-amazon-amd-stock-trims-palantir-block-holdings-amid-ai-and-bitcoin-euphoria">the artificial intelligence chip market evolves</a>, according to a new analysis from Trefis Team released Wednesday.
What Happened: While Nvidia has dominated the AI chip market with its stock surging 180% this year to reach a market capitalization of $3.5 trillion, its premium valuation of 48 times projected fiscal 2025 earnings could limit future gains. AMD, trading at a more modest 28 times forward earnings, offers investors exposure to AI growth at a more reasonable entry point.
The analysis highlights several factors potentially working in AMD&#8217;s favor. A key shift is occurring in the AI market from model training to inference &#8211; the process of generating outputs from trained models. AMD&#8217;s MI300X chip has demonstrated strong performance in inference tasks, competing effectively with Nvidia&#8217;s H100 GPU according to MLCommons benchmark testing.
This competitive position is translating into significant business opportunities. IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) recently announced plans to offer AMD&#8217;s MI300X AI processors on its cloud services in the first half of 2025, signaling growing market acceptance.
See Also: <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42237636/bitcoin-ethereum-dogecoin-simmer-down-on-thanksgiving-analyst-sees-significant-shift-from-btc-season-to-alt-season">Bitcoin, Ethereum, Dogecoin Simmer Down On Thanksgiving: Analyst Sees &#8216;Significant Shift&#8217; From BTC Season To Alt Season</a>
Why It Matters: Cost considerations are also becoming increasingly important for customers. With Nvidia&#8217;s GPUs priced above $25,000 each, companies are seeking more affordable alternatives. Oracle Corp&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) recent selection of AMD chips for its AI supercluster, citing strong performance at competitive prices, exemplifies this trend.
AMD&#8217;s financial performance supports the positive outlook. The company&#8217;s data center segment <a href="https://www.benzinga.com/news/earnings/24/10/41612007/amd-q3-earnings-revenue-beat-eps-in-line-data-center-up-122-significant-growth-opportunities-ahead-">reported $3.5 billion in third-quarter sales</a>, marking a 118% increase year-over-year. 
&#8220;While the AI revolution is possibly just getting started, investors will need to pick the right winners to continue profiting from this trend,&#8221; noted the Trefis analysis. &#8220;Specifically, we think it might be time to reconsider Nvidia stock and look closely at AMD.&#8221;
The stock has shown significant volatility, with annual returns ranging from -55% in 2022 to 128% in 2023, but has delivered overall gains of 1,112% since 2017, substantially outperforming the S&amp;P 500&#8217;s 167% return over the same period.
Trefis&#8217;s High-Quality portfolio, comprising 30 stocks, has outperformed the S&amp;P 500, growing a $100,000 investment to over $190,000 since its launch in September 2020.
According to <a href="https://www.benzinga.com/quote/AMD/analyst-ratings">Benzinga Pro data</a>, AMD has a consensus price target of $195.77, with the highest target at $265 and the lowest at $145. Recent analyst ratings from Benchmark, Citigroup, and TD Cowen suggest an almost 43% upside from the current price.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/29032556/Screenshot-2024-11-29-at-1.54.13%E2%80%AFPM-1024x377.png" alt="" class="wp-image-669623" /></figure>
Read Next: 
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<li><a href="https://www.benzinga.com/news/global/24/11/42238773/cathie-wood-sees-tesla-as-largest-ai-project-on-earth-heres-why-shes-not-worried-about-tech-investments">Cathie Wood Sees Tesla As &#8216;Largest AI Project On Earth&#8217; — Here&#8217;s Why She&#8217;s Not Worried About Tech Investments</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

NVDA

ORCL

AMD Stock Could Trump Nvidia As AI Chip Market Evolves, Says Analyst: 'Time To Reconsider' The Right Winners To 'Continue Profiting'

Donald Trump&#8216;s second administration is under the microscope for potential conflicts of interest due to the business ties of several cabinet nominees. Ethics experts are sounding alarms over the implications of appointing wealthy business figures to key government positions.
What Happened: Concerns are mounting that these appointments could blur the lines between&nbsp;business interests and government policy, the&nbsp;Financial Times <a href="https://www.ft.com/content/be99aeda-24f1-4b3f-9eaa-c62b7025773c">reported</a> on Friday. 
See Also:&nbsp;<a href="https://www.benzinga.com/general/education/24/11/42204590/trump-department-of-homeland-security-pick-kristi-noem-owns-ranch-invests-in-energy-gets-book-royalties?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Department Of Homeland Security Pick Kristi Noem Owns Ranch, Invests In Energy, Gets Book Royalties</a>
Trump&#8217;s cabinet, potentially the wealthiest in history, includes nominees like hedge fund manager&nbsp;Scott Bessent&nbsp;for Treasury Secretary,&nbsp;Cantor Fitzgerald&nbsp;CEO Howard Lutnick&nbsp;for Commerce Secretary, and&nbsp;Liberty Energy CEO Chris Wright&nbsp;for Energy Secretary. Tesla CEO Elon Musk is also a close adviser to the president-elect. 
Critics argue that the intersection of business and government in Trump&#8217;s administration could be more complicated than in previous administrations, potentially undermining government ethics standards. 
Walter Shaub, the former head of the Office of Government Ethics, a federal agency, said, "We are looking at potentially the greatest ethics cataclysm in the history of our government.&#8221;
Why It Matters: The formation of the Department of Government Efficiency, led by&nbsp;Musk&nbsp;and&nbsp;Vivek Ramaswamy, has been criticized by Clinton-era official&nbsp;Robert Reich&nbsp;as potentially being <a href="https://www.benzinga.com/politics/24/11/41962372/trumps-doge-with-musk-at-the-helm-riddled-with-conflicts-of-interest-says-clinton-era-official-robert-reich">&#8220;riddled with conflicts of interest.&#8221;</a> Reich expressed skepticism about the department&#8217;s true purpose, suggesting it might serve as a &#8220;quid-pro-quo&#8221; arrangement.
Meanwhile, Trump&#8217;s pick for U.S. Treasury Secretary Bessent is known <a href="https://www.benzinga.com/government/regulations/24/11/42150805/trump-picks-hedge-fund-exec-scott-bessent-as-treasury-secretary-what-president-elects-choice-means-for-americas-economic-future">for his support of gradual tariffs</a> and deregulation, aligning with Trump's economic vision, which includes reviving manufacturing and achieving energy independence. Despite Musk's support for Howard Lutnick, <a href="https://www.benzinga.com/etfs/24/11/42044642/trump-appears-frustrated-as-elon-musk-chimes-in-on-treasury-secretary-adds-more-names-to-a-list-of-potential-picks" target="_blank" rel="noreferrer noopener">Trump favored Bessent's</a> business-as-usual approach.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/general/education/24/11/42171604/trumps-department-of-education-secretary-pick-linda-mcmahon-owns-tko-stock-thanks-to-famous-wrestling-past?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Department Of Education Secretary Pick Linda McMahon Owns TKO Stock Thanks To Famous Wrestling Past</a></li>
</ul>
Image via Flickr
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Politics

Media

Trump White House Picks, Including Elon Musk And Scott Bessent, Spark Conflict Of Interest Concerns: 'Potentially The Greatest Ethics Cataclysm In The History Of Our Government'

Operational Highlights
<ul>
<li>Total number of stores on group level&nbsp;was 7,420&nbsp;as of September 30, 2024, an increase of 859&nbsp;net new stores in the first nine months of 2024.</li>
<li>Number of&nbsp;MINISO stores&nbsp;was 7,186&nbsp;as of September 30, 2024, an increase of 773 net new stores in the first nine months of 2024.</li>
</ul>
-Number of MINISO stores in mainland China was&nbsp;4,250&nbsp;as of September 30, 2024, a net increase of 324&nbsp;in the first nine months of 2024, compared to 3,926 as of December 31, 2023.
-Number of MINISO stores in overseas markets was 2,936&nbsp;as of September 30, 2024, a net increase of&nbsp;449&nbsp;in the first nine months of 2024, compared to 2,487 as of December 31, 2023.
<ul>
<li>Number of TOP TOY stores was 234&nbsp;as of September 30, 2024, with a record opening of 86&nbsp;net new stores in the first nine months of 2024.</li>
</ul>

MNSO

MINISO'S Total Number Of Stores On Group Level Was 7,420 As Of September 30, 2024, An Increase Of 859 Net New Stores In The First Nine Months Of 2024

MINISO Group Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MNSO#NYSE">MNSO</a>) reported quarterly earnings of RMB2.20 per share which missed the analyst consensus estimate of RMB2.21 by 0.45 percent. This is a 7.84 percent increase over earnings of RMB2.04 per share from the same period last year. The company reported quarterly sales of RMB4.522 billion which missed the analyst consensus estimate of RMB4.609 billion by 1.88 percent. This is a 19.28 percent increase over sales of RMB3.791 billion the same period last year.

Earnings

Earnings Misses

MINISO Group Holding Q1 2025 Adj. EPS RMB2.20 Misses RMB2.21 Estimate, Sales RMB4.522B Miss RMB4.609B Estimate

GPRK

GeoPark Inks Binding Agreement To Acquire Repsol's 45% Stake In CPO-9 And 25% In Llanos Norte Oil Projects In Colombia

Through this acquisition, we will expand our maintenance business in Norway and further strengthen our business foundation by promoting a strategy aimed at increasing our elevator maintenance stock in the European market, where we anticipate continued growth in demand for maintenance and renewal.

MIELY

Mitsubishi Electric Enhances European Elevator And Escalator Business Through Acquisition Of ALT Heis

<h3>Companies Reporting Before The Bell</h3>
• MINISO Group Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MNSO#NYSE">MNSO</a>) is likely to report quarterly earnings at $0.33 per share on revenue of $659.09 million. 
<h3>Companies Reporting After The Bell</h3>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Scheduled For November 29, 2024

<ul>
<li>Wearable robot 'X-ble Shoulder' to boost industrial efficiency and reduce musculoskeletal injuries</li>
<li>Designed to assist overhead work by enhancing upper arm muscle strength, expected to find use in various industries</li>
<li>The strong yet lightweight X-ble Shoulder enhances worker comfort by reducing shoulder load by 60% and muscle activity by 30%</li>
<li>Hyundai Motor and Kia's Robotics LAB announced commercialization plan for X-ble Shoulder, expected to begin deliveries in first half of 2025</li>
</ul>

HYMTF

Reported Wednesday, Hyundai And Kia To Debut 'X-ble Shoulder' In 2025, Cutting Muscle Activity And Enhancing Worker Comfort For Overhead Tasks

EVTV

Reported Wednesday, Envirotech Vehicles Delivers Electric Vans To FedEx Partners, Promising Cost Savings And Zero Emissions

Econ #s

France Harmonised Index of Consumer Prices (MoM) Preliminary For November -0.1% Vs. 0.0% Est.; 0.3% Prior

France Gross Domestic Product (QoQ) For Q3 0.4% Vs. 0.4% Est.; 0.2% Prior

France Gross Domestic Product (YoY) For Q3 1.2% Vs. 1.3% Est.; 1.0% Prior

France Consumer Price Index (MoM) Preliminary For -0.1% Vs. 0.0% Est.; 0.2% Prior

France Consumer Spending (MoM) For September -0.4% Vs. -0.1% Est.; 0.1% Prior

Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has introduced a major enhancement to its <a href="https://www.benzinga.com/topic/optimus">humanoid robot, Optimus</a>, featuring new hands.
What Happened: This announcement aligns with Neuralink&#8216;s recent FDA approval for its CONVOY Study. This trial will let Neuralink test its Brain-to-Computer (BCI) implant with assistive robotic arms – such as those of the Optimus bot.
This development follows Neuralink&#8217;s announcement of FDA approval for its CONVOY study, which will test the Brain-to-Computer-interface (BCI) N1 Implant with assistive robotic arms.
During a Neuralink update in July, Musk suggested that Optimus limbs could potentially work alongside the N1 implant. Neuralink also plans to allow participants to enroll in both the CONVOY and PRIME studies, the latter having already enabled two patients to control devices with their minds.
<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">We're excited to announce the approval and launch of a new feasibility trial to extend BCI control using the N1 Implant to an investigational assistive robotic arm. This is an important first step towards restoring not only digital freedom, but also physical freedom. More info…
&mdash; Neuralink (@neuralink) <a href="https://twitter.com/neuralink/status/1861107594645119006?ref_src=twsrc%5Etfw">November 25, 2024</a></blockquote>
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</figure>
The latest update from Tesla Optimus humorously stated, &#8220;Got&nbsp;a new hand for Black&nbsp;Friday,&#8221; showcasing the robot&#8217;s capability to catch&nbsp;a tennis ball with its&nbsp;upgraded hand.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Got a new hand for Black Friday <a href="https://t.co/x3gQrsbYAQ">pic.twitter.com/x3gQrsbYAQ</a>
&mdash; Tesla Optimus (@Tesla_Optimus) <a href="https://twitter.com/Tesla_Optimus/status/1862116407594377698?ref_src=twsrc%5Etfw">November 28, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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In May,&nbsp;CEO Elon Musk&nbsp;indicated plans to enhance Optimus&#8217; hands to achieve 22 degrees of freedom, nearing the 27 degrees found in human hands.
See Also: <a href="https://www.benzinga.com/tech/24/11/42230503/tesla-cybercab-spotted-testing-in-giga-texas-facility">Tesla Cybercab Spotted Testing In Giga Texas Facility</a>
Why It Matters: The unveiling of the new hand upgrade for Tesla&#8217;s Optimus robot comes at a time when the company is making strides in autonomous navigation and interaction capabilities.
In October, Tesla showcased Optimus&#8217; ability to autonomously navigate a factory, avoid obstacles, and <a href="https://www.benzinga.com/news/24/10/41376564/tesla-showcases-optimus-autonomous-navigation-charging-abilities-after-admitting-they-were-human-ass">interact with humans</a> by handing over snacks and drinks upon request.
Moreover, Musk&nbsp;recently <a href="https://www.benzinga.com/tech/24/11/41834327/elon-musk-reveals-toughest-part-of-building-teslas-humanoid-robot-improving-the-design-of-optimus-for-ease-of-manufacturing">acknowledged the challenges</a> in refining Optimus&#8217; design for easier manufacturing and establishing a complex supply chain for mass production. Despite these hurdles, Musk remains optimistic about the long-term economic potential of humanoid robots driven by artificial general intelligence.
In a related development, <a href="https://www.benzinga.com/24/11/42159490/elon-musks-tesla-hunts-top-talent-to-develop-software-for-robotaxi-optimus-robot-teleoperation-2">Tesla is actively seeking top talent</a> to enhance software for the teleoperation of its robotaxis and Optimus robots. This initiative aims to develop low-latency, reliable data streaming solutions for real-world applications.
Price Action: Tesla stock closed at $332.89 on Wednesday, down 1.6% for the day. In after-hours trading, the stock increased slightly by 0.5%. Year to date, Tesla's stock has gained 34%, according to&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Analysts have a consensus rating of "Neutral" on the Tesla stock, according to Benzinga Pro data. The highest price target is $400, while the consensus price target is 232.20, implying a 30% downside.
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>
Read Next:
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<li><a href="https://www.benzinga.com/tech/24/11/42183055/elon-musk-slams-californias-proposal-to-shut-tesla-evs-out-of-consumer-rebates-in-state-this-is-insane?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Slams California&#8217;s Proposal To Shut Tesla EVs Out Of Consumer Rebates In State: &#8216;This Is Insane'</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Tesla

Tech

TSLA

Tesla's Optimus Bot Gets New Hands As Neuralink's FDA-Approved BCI Trials Begin

Major U.S. indices have advanced between 18% to 27% year-to-date. The S&amp;P 500 Index scaled its 52nd record high this year on Tuesday, Nov. 26. Bulls and Bears are locking horns as S&amp;P 500 is on track to deliver 20% plus year-to-date gains for the second time.
What Happened: Markets have been under pressure only once in the month of December over the last 95 years, according to the data highlighted by Ryan Detrick, chief market strategist at Carson Group LLC.
Thanksgiving falls on the fourth Thursday of November every year, addressing the next month of December, Detrick shared the data and said &#8220;Something to be thankful for?&#8221;, in an X (formerly Twitter). The data from 1928 to 2023 showed that September has been the worst 13 times while April is the worst month this year with a 4% drop.
<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">Something to be thankful for? December has been the worst month of the year for stocks only once going back 95 years (2018 and the Fed policy mistake). Worst month this year has been the 4% drop in April. <a href="https://t.co/2ThL3DwD7x">pic.twitter.com/2ThL3DwD7x</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1862188406505185730?ref_src=twsrc%5Etfw">November 28, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Also read: <a href="http://GOP Megadonor Ken Griffin Slashes Citadel's Palantir Stake By 91%, Bets Big On Nvidia As Jensen Huang-Led Company Rises Over 180% In 2024">GOP Megadonor Ken Griffin Slashes Citadel&#8217;s Palantir Stake By 91%, Bets Big On Nvidia As Jensen Huang-Led Company Rises Over 180% In 2024</a>
On the other hand, David Cox, CMT, CFA, portfolio manager at Raymond James Ltd., in an X Post highlighted the likelihood of an upcoming to the investors, saying &#8220;If you want to sidestep a decline, watch the trend…&#8221;
The 13/34-week Exponential Moving Average signals a bullish market trend when the 13-week EMA line is above the 34-week EMA line and a bullish crossover results in a market correction. Predicting an upcoming crossover through his chart Cox said that &#8220;there will be another red circle some day&#8221;, The red circle in his chart represents a bullish crossover.
According to a <a href="https://www.cmgwealth.com/ri/how-i-think-about-the-13-34-week-exponential-moving-average/">note by CMGWealth</a>, the 13/34-week EMA analysis is a &#8220;simple, tactical trend indicator that has historically captured the cyclical bull and bear market trends.&#8221;
<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">again, look at how much easier we can make it on ourselves&#8230; time frame matters, if you want to sidestep a decline, watch the trend&#8230; look at these 13/34-week EMA <a href="https://twitter.com/hashtag/bearish?src=hash&amp;ref_src=twsrc%5Etfw">#bearish</a> crossovers&#8230; they help you remove emotion, and stay focused&#8230; there will be another red circle some day <a href="https://t.co/kpAXx8F5jX">pic.twitter.com/kpAXx8F5jX</a>
&mdash; David Cox, CMT, CFA (@DavidCoxRJ) <a href="https://twitter.com/DavidCoxRJ/status/1861758050215891069?ref_src=twsrc%5Etfw">November 27, 2024</a></blockquote>
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Why It Matters: Markets have been trading higher than their pre-election levels and the expectations of a further 25 basis point rate cut in December rose to just 66.3%, according to <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">CME Group&#8217;s FedWatch tool</a>. This indicates a further upside in the stock markets.
The S&amp;P 500 index has risen 26.48% year-to-date to basis. Whereas, the Nasdaq 100, Dow Jones, and Russell 200 Index have returned 25.39%, 18.58%, and 20.54%, respectively. The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was up by 26.7% and the Invesco QQQ ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NYSE">QQQ</a>) advanced by 23.39%, according to Benzinga Pro data.
Read next: <a href="https://www.benzinga.com/general/market-summary/24/11/42206673/trumps-running-mate-vice-president-pick-and-venture-capitalist-jd-vance-holds-etfs-bitcoin-and-more-here-is-a-look-at-his-portfolio" target="_blank" rel="noreferrer noopener">JD Vance&#8217;s Investment Playbook Has Bitcoin And ETFs: Here&#8217;s What Else The VP-Elect Is Betting On</a>

Wall Street's December Surprise: What Investors Need to Know Now

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