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The fund, under normal circumstances, invests at least 80% of its net assets (plus borrowing for investment purposes) in financial instruments, such as swap agreements, securities of the index, exchange-traded funds ("ETFs") that track the index and other financial instruments that provide daily leveraged exposure to the index or to ETFs that track the index. The index measures the performance of 400 mid-sized companies in the United States. The fund is non-diversified.

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Leveraged ETFs In Trump&#39;s First 100 Days

Leading digital asset manager Grayscale Investments broadened its Top 20 list of cryptocurrencies on Monday by adding six new tokens with strong growth potential for the upcoming quarter.
What Happened: Grayscale <a href="https://www.grayscale.com/research/market-commentary/grayscale-research-insights-crypto-sectors-in-q1-2025">added </a>Layer-1 blockchain token Hyperliquid (HYPE), decentralized stablecoin protocol Ethena (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">ENA</a>), AI agent creator Virtuals Protocol (VIRTUAL), decentralized exchange Jupiter (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">JUP</a>), liquid staking protocol Jito (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">JTO</a>), and decentralized data network Grass (GRASS) to the list, which it publishes every quarter.
Interestingly, VIRTUAL has been the <a href="https://www.benzinga.com/24/12/42717267/2024s-cryptocurrency-champions-these-top-performers-surpass-bitcoin-in-a-year-of-unprecedented-gains">market&#8217;s best performer in 2024</a>, with year-to-date gains of 26043%. Additionally, ENA has been <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42500884/trump-backed-world-liberty-financials-purchases-trigger-strong-rally-in-these-defi-tokens">heavily accumulated</a> by President-elect Donald Trump-backed platform World Liberty Financial.
The asset manager said it considered metrics like network adoption, upcoming catalysts, sustainability of fundamentals, token valuation, token supply inflation, and potential tail risks for the inclusion.
Grayscale added that the focus was on assets that touched on themes like the U.S. election and its potential impact on cryptocurrency regulation, decentralized AI technology, and growth in the Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) ecosystem.
See Also:&nbsp;<a href="https://www.benzinga.com/24/12/42729068/donald-trumps-9-9-million-crypto-portfolio-over-50-growth-since-september-how-many-cryptocurrencies-does-trump-own">Donald Trump&#8217;s $9.9 Million Crypto Portfolio: Over 50% Growth Since September – How Many Cryptocurrencies Does Trump Own?</a>
The &#8216;Top 20&#8217; list consisted of a diversified set of assets spanning different cryptocurrency sectors, including Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), Chainlink (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/link/usd">LINK</a>), and Uniswap (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/uni/usd">UNI</a>).
Why It Matters: This decision by Grayscale Research comes in the wake of a transformative forecast for the cryptocurrency industry in 2025. According to a&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42724952/2025-outlook-bitcoin-to-150000-ethereum-to-5500-dogecoin-hits-1-galaxy-research-predicts">study</a>&nbsp;by Galaxy Research, the industry is set for significant advances in adoption, infrastructure, and regulatory clarity. 
The research predicted Bitcoin to surpass $150,000 in the first half of 2025, potentially reaching or exceeding $185,000 by the fourth quarter.
The inclusion of these new tokens implied the growing potential of assets tied to decentralized finance and AI, as well as the weight attached to assets that provide utility. 
Price Action: At the time of writing, all of these new entrants to the &#8216;Top 20&#8217; list were down in the 24-hour period, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Photo by Avi Rozen on Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42729819/bitcoin-up-1-to-94000-sweet-setup-going-into-2025-but-beware-a-drop-below-93000-experts-say">Bitcoin Up 1% To $94,000: &#8216;Sweet&#8217; Setup Going Into 2025, But Beware A Drop Below $93,000, Experts Say</a></li>
</ul>

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$JUP

$LINK

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$UNI

Trump-Backed Platform's Pick, Year's Chart Topper: 6 New Cryptos Added To Grayscale's 'Top 20' List With Growth Potential In Q1 2025

On Monday, Wedbush analyst Dan Ives unveiled his top 10 tech winners for the AI revolution into 2025, leaving two major Magnificent 7 players notably absent from the list.
What Happened:&nbsp; In his post, Ives said that the companies are poised to ride the wave of a $2 trillion AI capital expenditure boom over the next three years.
His list of top 10 tech winners for the AI revolution: Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>), Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), MongoDB Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDB#NASDAQ">MDB</a>), Pegasystems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEGA#NASDAQ">PEGA</a>), Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>), and Salesforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>).&nbsp;
&#8216;Magnificent 7&#8217; heavyweights Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) were conspicuously absent from the list.
See Also: <a href="https://www.benzinga.com/tech/24/12/42715441/openais-for-profit-transition-trumps-ai-advisor-and-googles-code-red-this-week-in-ai?itm_source=parsely-api">OpenAI&#8217;s For-Profit Transition, Trump&#8217;s AI Advisor, And Google&#8217;s Code Red: This Week In AI</a>
"We expect tech stocks to be up 25% in 2025," Ives stated, adding that it will be bolstered by "a goldilocks foundation for Big Tech and Tesla" and reduced regulatory hurdles under a Donald Trump-led administration.
Ives also cautioned about potential "white-knuckle moments" in 2025, citing concerns around Fed actions, China trade dynamics, and stretched valuations.
However, he said, &#8220;This will create the opportunities to own the tech theme and key names which has been our core investing tech playbook the last 2 years.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We expect tech stocks to be up 25% in 2025 as the Street further digests a less regulatory spider web under Trump in the White House with Khan/FTC days in the rear-view mirror, stronger AI initiatives within the Beltway, and a goldilocks foundation for Big Tech into 2025 &#x1f525;&#x1f3c6;&#x1f402; <a href="https://t.co/buam9doR6K">pic.twitter.com/buam9doR6K</a>
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1873877365572723044?ref_src=twsrc%5Etfw">December 30, 2024</a></blockquote>
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Why It Matters: Apple currently leads the market with an impressive valuation of $3.812 trillion, and its stock has surged by 35.85% year-to-date.
Cupertino introduced Apple Intelligence this year, a robust collection of AI tools and features designed to greatly improve the user experience on its devices.
Following closely is Nvidia, with a market cap of $3.367 trillion and an impressive 185.43% year-to-date increase. Nvidia is anticipated to launch its next-generation RTX 5000 series GPUs at <a href="https://www.benzinga.com/markets/24/12/42677149/nvidia-ces-2025-keynote-how-to-watch-jensen-huang-unveil-the-rtx-5000-series-gpus">CES 2025 scheduled for the second week</a> of January.
Microsoft secures the third spot with a valuation of $3.158 trillion. Alphabet, the parent company of Google, holds a market cap of $2.350.
Amazon rounds out the top five with a valuation of $2.326 trillion, while Meta and Tesla are at number seven and eight with a market cap of $1.492 trillion and $1.339 trillion, respectively.
Image via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/12/42717000/palantir-was-not-part-of-cool-kids-club-says-dan-ives-as-stock-surges-376-institutional-investors-were-stuck">Palantir Was Not Part Of &#8216;Cool Kids Club,&#8217; Says Dan Ives, As Stock Surges 376%: &#8216;Group Think&#8217; Mentality Of Institutional Investors Gave Retail The Edge</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Tech

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AMZN

GOOG

GOOGL

MSFT

NVDA

PEGA

PLTR

SNOW

TSLA

Palantir, Salesforce, And Snowflake Made The Cut, But 2 'Magnificent 7' Giants Left Out From Dan Ives' Top 10 Tech Winners For The AI Revolution In 2025 List

New Street Research analyst Pierre Ferragu predicts 2025 will mark the beginning of a new artificial intelligence era, citing breakthrough developments in Tesla Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) <a href="https://www.benzinga.com/trading-ideas/technicals/24/10/41449625/tesla-or-google-who-will-steer-the-future-of-self-driving">Full Self-Driving technology</a> and OpenAI&#8217;s latest O3 model.
What Happened: In a detailed research note, Ferragu emphasizes the remarkable performance of OpenAI&#8217;s O3 model on the Advanced Reasoning Corpus &#8211; Artificial General Intelligence benchmark, a testing framework that assesses the reasoning and problem-solving abilities of AI systems. 
The model achieved an impressive 87.5% score, nearing human-level capabilities and marking a substantial improvement over previous AI models, which typically scored below 10%.
&#8220;This is not merely incremental improvement, but a genuine breakthrough, marking a qualitative shift in AI capabilities,&#8221; says François Chollet, founder of the ARC-AGI foundation, as quoted in the research report.
The O3 model, set for release in January, demonstrates remarkable improvements across multiple benchmarks. It achieved a 71.7% accuracy in software engineering tasks, matching human professional performance, and scored 2,727 Elo in competitive coding, surpassing many expert programmers.
&#8220;Between FSD v13.2.2 driving me around with literally no intervention and o3 scoring 88% at ARC-AGI, I do believe the inflection is now. 2025 will be year zero of the AI era,&#8221; Ferragu wrote on X. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Between FSD v13.2.2 driving me around with literally no intervention and o3 scoring 88% at ARC-AGI, I do believe the inflection is now. 2025 will be year zero of the AI era. For more detailed thoughts, check the link in the next post&#x1f447;. <a href="https://t.co/b2UTWi29pz">pic.twitter.com/b2UTWi29pz</a>
&mdash; Pierre Ferragu (@p_ferragu) <a href="https://twitter.com/p_ferragu/status/1873828283764400515?ref_src=twsrc%5Etfw">December 30, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/general/entertainment/24/12/42731943/top-5-benzinga-articles-for-2024-the-year-of-the-cybertruck-though-perhaps-elon-musk">Benzinga&#8217;s Top 5 Stories In 2024: The Year Of The Cybertruck</a>
Why It Matters: However, these advances come with substantial computational costs. The high-performance version of O3 requires approximately 2,000 times more computing power than its predecessor, with a single AGI task costing about $3,500 to process.
Ferragu suggests this breakthrough has significant implications for AI infrastructure providers. &#8220;We likely are still only at the very beginning of the growth curve for AI infrastructure and its supply chain,&#8221; he notes, indicating potential investment opportunities in the sector.
While O3 represents a major <a href="https://www.benzinga.com/24/12/42712683/openai-lays-out-its-for-profit-transition-plans-says-it-must-evolve-to-advance-its-agi-mission">step toward Artificial General Intelligence</a>, Ferragu clarifies it hasn&#8217;t achieved full AGI status yet. The model is expected to face challenges with next-generation tests, where estimates suggest it may not exceed 25% accuracy.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/12/42726598/dow-jones-2024-scoreboard-top-5-winners-losers-and-how-amazon-nvidia-could-reshape-2025">Dow Jones 2024 Scoreboard: Top 5 Winners, Losers — And How Amazon, Nvidia Could Reshape 2025</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

Tesla's FSD And OpenAI's O3 Model Signal 'Year Zero Of The AI Era,' Says Analyst Pierre Ferragu

Leading coins moved&nbsp;further south Monday as traders turned to profit-taking ahead of the New Year.&nbsp;
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<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:45 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-1.05%</td>
<td>$92,439.45</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-1.23%</td>
<td>$3,340.67</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-0.67%</td>
<td>$0.3138</td>
</tr>
</tbody>
</table>
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What Happened: Bitcoin had a bumpy morning, dipping to a low of $91,317 in early trade, recovering to highs of $94,000 late in the afternoon, and then retreating to $92,000 by evening.
Since the surge to $99,000 on Christmas, the leading cryptocurrency has slipped as much as 6.5%.
Ethereum dipped below $3,400, extending its weekly losses to 2.40%.&nbsp;
The downward market triggered $283 million worth of liquidations in the last 24 hours, with bullish bets worth nearly $200 million getting wiped out.
That said, Bitcoin's rebound to $100,000 from here could liquidate $687 million in short positions.
About 67% of all traders on Binance were levered long on Bitcoin, according to the Long/Short Ratio indicator, indicating expectations of a rebound.
The "Greed" sentiment cooled further from 65 to 64, according to the Crypto Fear &amp; Greed Index.
Top Gainers (24-Hours)
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<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:45 p.m. ET)</td>
</tr>
<tr>
<td>Lido DAO (LDO)</td>
<td>+3.38%</td>
<td>$1.85</td>
</tr>
<tr>
<td>Arweave (AR)</td>
<td>+1.86%</td>
<td>$16.51</td>
</tr>
<tr>
<td>Pepe (PEPE)</td>
<td>+1.85%</td>
<td>$0.00001822</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.24 trillion, following a drop of 0.97% in the last 24 hours.
Stocks edged lower on Monday. The Dow Jones Industrial Average slipped 418.48 points, or 0.97%, to close at 42,573.73. The S&amp;P 500 fell 1.07%, ending at 5,906.94, while the tech-focused Nasdaq Composite lost 1.19% to close at 19,486.78.
The so-called "Santa Claus Rally" fizzled out, as both the Dow and the S&amp;P 500 suffered losses in the trading sessions after Christmas.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Influential cryptocurrency analyst Ali Martinez weighed in on Bitcoin's corrective action.
"Bitcoin below $93,000 is a problem because, as you can see, there isn&#8217;t enough significant support below it," Ali said, pointing to fewer addresses that purchased the cryptocurrency at prices below $93,000.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> below $93,000 is a problem because, as you can see, there isn&#39;t enough significant support below it! <a href="https://t.co/MSJxAT56OG">pic.twitter.com/MSJxAT56OG</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1873733620160197093?ref_src=twsrc%5Etfw">December 30, 2024</a></blockquote>
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Well-known on-chain analytics firm Santiment noted the sizable paper gains held by short-term holders of Bitcoin on average.
"Currently, their aggregate cost-basis resides at a value of $86,800, marking this as a key region of interest for local price momentum," the firm added.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Despite the decline in <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> price, the average Short-Term Holder continues to hold an unrealized profit (paper gain) of +7.9%. Currently, their aggregate cost-basis resides at a value of $86.8k, marking this as a key region of interest for local price momentum. <a href="https://t.co/fQaQJ8mZtb">pic.twitter.com/fQaQJ8mZtb</a>
&mdash; glassnode (@glassnode) <a href="https://twitter.com/glassnode/status/1873741504096907361?ref_src=twsrc%5Etfw">December 30, 2024</a></blockquote>
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Image via Shutterstock
Read Next:    
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42729819/bitcoin-up-1-to-94000-sweet-setup-going-into-2025-but-beware-a-drop-below-93000-experts-say">Bitcoin Up 1% To $94,000: &#8216;Sweet&#8217; Setup Going Into 2025, But Beware A Drop Below $93,000, Experts Say</a></li>
</ul>

Movers

$DOGE

Bitcoin Falls Below $93K, Ethereum, Dogecoin Slip Ahead Of New Year: Top Analyst Anticipates 'Problem' For BTC

Influential economist Mohamed El-Erian recently pointed out the stark contrast between US &#8220;economic exceptionalism&#8221; and the struggles of lower-income households in what he calls a &#8220;K economy.&#8221;
What Happened: On Monday, El-Erian posted a comment and shared a story from the front page of the Financial Times, highlighting the growing economic disparity in the United States. He noted that while the US economy is exceptional in many ways, it has also led to a &#8220;K economy&#8221; where lower-income households face significant and increasing challenges.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This is from the front page of today&#39;s <a href="https://twitter.com/FT?ref_src=twsrc%5Etfw">@FT</a>. It is a reminder that, from a distributional perspective, US &quot;economic exceptionalism&quot; has been accompanied by what many have called a &quot;K economy&quot; in which lower-income households face considerable and mounting challenges. <a href="https://t.co/0HL08g8nMJ">pic.twitter.com/0HL08g8nMJ</a>
&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1873726565982617611?ref_src=twsrc%5Etfw">December 30, 2024</a></blockquote>
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El-Erian&#8217;s post comes in the context of a recent report on the surge in US credit card defaults, which have reached their highest level since the 2008 financial crisis. 
See Also:&nbsp;<a href="https://www.benzinga.com/24/12/42711387/wall-streets-santa-rally-at-risk-palantir-dethrones-nvidia-consumer-confidence-pulls-back-this-week-in-the-markets?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Wall Street&#8217;s Santa Rally At Risk, Palantir Dethrones Nvidia, Consumer Confidence Pulls Back: This Week In The Markets</a>
Why It Matters: This situation underscores the financial strain on lower-income households, which El-Erian refers to in his &#8220;K economy&#8221; comment. The term &#8220;K economy&#8221; refers to a situation where the wealthy continue to prosper while the less affluent struggle, creating a divide that resembles the letter &#8216;K.&#8217; Traditionally the economy is viewed as &#8216;V&#8217; shaped with even ups and downs.
Credit card lenders wrote off a <a href="https://www.benzinga.com/24/12/42721109/mark-cuban-once-said-credit-card-users-dont-want-to-be-rich-now-us-credit-card-defaults-have-skyrocketed-to-highest-levels-since-2008-financial-crisis">staggering $46 billion</a>&nbsp;in seriously delinquent loan balances&nbsp;during&nbsp;the first nine months of&nbsp;2024. This figure, representing a 50% increase&nbsp;from the same period in&nbsp;2023, is the highest&nbsp;in 14 years, according to&nbsp;data from BankRegData.
Mark Zandi, the head of Moody's Analytics, stated,&nbsp;"High-income households are fine, but&nbsp;the bottom third of US&nbsp;consumers are tapped out. Their&nbsp;savings rate right now is&nbsp;zero."
The rise in defaults underscores the strain on consumers&#8217; personal finances following years of high inflation and the Federal Reserve&#8217;s policy of maintaining elevated borrowing costs. Early indicators suggest a growing number of&nbsp;defaults on consumer debt.
Capital One, the third-largest credit card lender in the US, reported its annualized credit card write-off rate hit 6.1% as of November, up from 5.2% a year ago.
Odysseas Papadimitriou, head of consumer&nbsp;credit research firm WalletHub, noted,&nbsp;"Consumer spending power has been&nbsp;diminished." Despite nearly $60 billion&nbsp;in consumer credit card debt&nbsp;being written off&nbsp;in the past year, another&nbsp;$37 billion remains overdue by at least one month.
Photo by International Monetary Fund on Flickr
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/24/12/42710703/sp-500-poised-for-best-year-vs-global-stocks-since-1997-bank-of-america-warns-of-2005-rotation?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">S&amp;P 500 Poised For Best Year Vs. Global Stocks Since 1997: Bank Of America Warns Of 2005 Rotation</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Economics

General

El-Erian Warns Of Hidden Crisis In 'Exceptional' US Economy As Lower Income Households Face 'Considerable' Challenges

U.S. stock markets experienced a downturn today, with the S&amp;P 500 declining by 1.07%. The NASDAQ also saw a decrease, falling by almost 1.2%. The Dow Jones Industrial Average declined almost 1%. Despite these indices in the red, certain stocks captured significant attention from investors.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Federal National Mortgage Association&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/FNMA#OTC">FNMA</a>)
Fannie Mae&#8217;s stock surged by 36.14%, closing at $3.39. It reached an intraday high of $3.48 and a low of $2.24, with a 52-week range of $3.65 to $0.93. The stock&#8217;s rise followed comments from Bill Ackman, CEO of Pershing Square, who <a href="https://www.benzinga.com/general/social-media/24/12/42734220/bill-ackman-sends-fannie-mae-freddie-mac-stocks-soaring-trump-likes-big-deals">highlighted the potential</a> for Fannie Mae to exit conservatorship, influenced by the incoming Trump administration.
Boeing Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>)
Boeing&#8217;s shares fell by 2.31%, closing at $176.55. The stock hit an intraday high of $178.17 and a low of $170.15, with a 52-week high of $258.59 and a low of $137.03. The decline followed&nbsp;<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/12/42725208/boeing-crash-headlines-rattle-investors-why-the-stock-chart-shows-resilience">news of a tragic crash</a>&nbsp;involving a 737-800 in South Korea, prompting safety inspections of the aircraft.
MicroCloud Hologram Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLO#NASDAQ">HOLO</a>)
MicroCloud Hologram&#8217;s stock skyrocketed by 167.08%, closing at $6.41. It reached an intraday high of $7.81 and a low of $3.42, with a 52-week range of $1968 to $1.23. The surge came after the company announced a&nbsp;<a href="https://www.benzinga.com/news/small-cap/24/12/42726137/microcloud-hologram-rockets-with-quantum-leap-details">breakthrough in quantum technology</a>, enhancing control over qubits in a double quantum dot system.
MicroStrategy Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>)
MicroStrategy&#8217;s shares dropped by 8.19%, closing at $302.96. The stock recorded an intraday high of $320.01 and a low of $301.75, with a 52-week high of $542.99 and a low of $43.89. The decline followed the <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42723691/microstrategy-drops-209-million-on-bitcoin-in-8-week-buying-blitz">company&#8217;s announcement</a> of a significant Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) purchase, adding 2,138 BTC to its holdings. The transaction was valued at nearly $209 million.
Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s stock decreased by 3.30%, closing at $417.41. It reached an intraday high of $427 and a low of $415.75, with a 52-week range of $488.54 to $138.8. The decline occurred as the company prepared to&nbsp;<a href="https://www.benzinga.com/trading-ideas/technicals/24/12/42721312/tesla-stock-takes-a-breather-is-the-rally-losing-charge">report its fourth-quarter delivery numbers</a>, with expectations of 511,000 vehicles delivered.
Prepare for the day&#8217;s trading&nbsp;<a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a>&nbsp;by Benzinga.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

FNMA

MicroCloud Hologram Inc. - Ordinary Shares

HOLO

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Bill Ackman Sets Off Fannie Mae Buzz — Boeing, MicroCloud Hologram, MicroStrategy, Tesla Also On Investors' Radars Today

A South Korean court has approved the detainment of President Yoon Suk Yeol over his imposition of martial law earlier in the month.
What Happened: On Tuesday (local time), the Seoul Western District Court issued a warrant against Yoon on charges of masterminding a failed martial law declaration, orchestrating an insurrection, and abusing power, according to <a href="https://www.koreatimes.co.kr/www/nation/2024/12/356_389449.html">The Korea Times</a> report. The Corruption Investigation Office applied for the warrant after Yoon ignored three requests for an appearance from the anti-corruption agency for questioning.
The court warrant grants the CIO 48 hours to detain Yoon for questioning and seek an arrest warrant. However, the Presidential Security Service has blocked investigators from accessing both the presidential office compound and Yoon&#8217;s official residence, citing concerns over military security.
Although Yoon has presidential immunity from criminal prosecution, this protection does not extend to charges of insurrection or treason. Yoon&#8217;s defense team contends that the CIO does not have the legal authority to investigate insurrection, a charge that, under the current system, falls within the investigative jurisdiction of the police.
Yoon was suspended from his duties after the opposition-controlled National Assembly voted to impeach him on December 14 for imposing martial law, which was overturned by a parliamentary vote just six hours later. The Constitutional Court has initiated proceedings to decide whether to remove the incumbent from office or reinstate him, with a ruling expected within 180 days beginning Dec. 14.
See Also: <a href="https://www.benzinga.com/news/24/12/42714291/anthony-scaramucci-tells-musk-to-stick-to-business-heres-musks-musical-response?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Tells Elon Musk To ‘Stick To Business'—Here's Musk's Bold Response</a>
Why It Matters: The impeachment and potential arrest of President Yoon Suk Yeol is the culmination of a series of events that started with his controversial&nbsp;<a href="https://www.benzinga.com/news/global/24/12/42292488/south-korean-etfs-slide-on-presidents-emergency-martial-law-declaration-protect-the-constitutional-democratic-order">declaration of martial law</a>&nbsp;on Dec. 3. This move, which Yoon justified as a measure against anti-state activities, led to a significant drop in South Korean ETFs and widespread protests across the country.
In mid-December, South Korean lawmakers, including several members of Yoon&#8217;s own People Power Party (PPP), <a href="https://www.benzinga.com/markets/equities/24/12/42497084/south-korean-lawmakers-impeach-yoon-over-martial-law-attempt">voted to impeach him</a> over his martial law attempt. The Constitutional Court now has 180 days to ratify the impeachment, which could result in Yoon&#8217;s removal from office.
The Korea Composite Stock Price Index was seen trading lower by 0.22% at 2,399.49 at the time of writing. Shares of major South Korean companies like Samsung Electronics Co. Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) and Hyundai Motor Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HYMTF#OTC">HYMTF</a>) were in the red. Korean memory giant SK Hynix Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HXSCL#OTC">HXSCL</a>) also traded lower in Seoul.
Image via Shutterstock
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Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Politics

HXSCL

HYMTF

SSNLF

South Korean President Yoon Suk Yeol Faces Arrest Over Martial Law Declaration

OPTN

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

COEPW

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CARA

The private space industry had a breakout year in 2024 and the upward trend looks poised to continue into 2025. Here's a look at the trends that could shape the future of <a href="https://www.benzinga.com/general/space/24/12/42717337/spacex-kicks-off-post-christmas-operations-with-double-launch-eyes-134-missions-in-2024">the space industry.&nbsp;</a>
Trump Catalyst: Investors are gearing up for incoming President Donald Trump who oversaw the establishment of NASA's Artemis program, the re-launch of the National Space Council and the creation of the Space Force during his first term in office.&nbsp;
James Bruegger, chief investment officer of Seraphim Space, also sees space being a focus of the second Trump administration, especially in the face of China's "increasing assertiveness" in space technology. 
Read Next: <a href="https://www.benzinga.com/general/social-media/24/12/42734220/bill-ackman-sends-fannie-mae-freddie-mac-stocks-soaring-trump-likes-big-deals">Bill Ackman Sends Fannie Mae, Freddie Mac Stocks Soaring: &#8216;Trump Likes Big Deals&#8217;</a>&nbsp;
Communication Satellites: Bruegger also said he expects 2025 to be the year that direct-to-device satellite connectivity goes mainstream and pointed to Apple's recent $1.5 billion investment in Globalstar as an example.&nbsp;
AST SpaceMobile, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) is building a cellular broadband network in space to operate directly with standard, unmodified mobile devices and could benefit from other carriers looking to space to improve connectivity. The company recently announced <a href="https://www.benzinga.com/24/12/42390726/ast-spacemobile-secures-long-term-vodafone-deal-to-boost-global-coverage">a partnership</a> with Vodaphone to expand the carrier's global broadband connectivity. 
Market Interest: Investors showed growing interest in private space companies in 2024 and Bruegger expects the trend to continue into 2025. He pointed to Rocket Lab USA, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>) as one of the most valuable private space companies with a market cap of $13.61 billion as of Monday. Rocket Lab shares have gained more than 375% in 2024. 
Intuitive Machines, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUNR#NASDAQ">LUNR</a>) is another space company to watch in the new year. The company successfully landed its Odysseus lunar lander on the moon in February 2024 to become the first U.S. spacecraft to land on the surface of the moon since the end of the Apollo era in the 1970s. 
The company is positioned for continued growth in 2025 with long-term NASA contracts and two new contract awards from NASA's Near Space Network <a href="https://www.benzinga.com/general/sports/24/12/42647377/intuitive-machines-stock-is-moving-higher-monday-whats-going-on">announced</a> last week. Intuitive Machines shares are up over 640% this year.&nbsp;
"As we look ahead to 2025, we expect it to be once again a stellar year for SpaceTech," Bruegger said.&nbsp;
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Photo: Shutterstock

SPACE

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Space Industry To See Another 'Stellar Year' In 2025, Investor Says

Legendary investor Warren Buffett is best known for stocks he has bought over the years and his gains for Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) investors. He's also <a href="https://www.benzinga.com/general/education/24/10/41418702/warren-buffetts-words-of-wisdom-benzinga-readers-pick-their-favorite-oracle-of-omaha-quote">known for quotes</a> that can be applied to investing and life.
Here's a look back at Buffett's take on the importance of reputation.
What Happened: Buffett has many highlights during his lengthy career leading Berkshire Hathaway, but one of the lower moments almost occurred<a href="https://www.benzinga.com/news/16/09/8483241/warren-buffett-weathered-the-salomon-brothers-scandal-whats-that-mean-for-wells-f"> due to an investment </a>in investment bank Salomon Brothers.
Berkshire bought a 12% stake in the company in the 1980s and a scandal at the firm over treasury bonds almost took the company under and led to Buffett stepping in as interim chairman and CEO of the company.
In September 1991, Buffett <a href="https://www.youtube.com/watch?v=7u7-UNSkr4o">testified </a>before the House Commerce subcommittee in Washington D.C. and shared that he asked every Salomon Brothers employee to be their own compliance officer.
He also asked for two key demands from employees with the first one being that they obey all rules and ask themselves if they're willing to appear on the front page of the newspaper and have their work accomplishments read by their spouses and kids.
If they followed this rule, Buffett was pretty confident they could ignore his second demand.
"Lose money for the firm and I will be understanding. Lose a shred of reputation for the firm, and I will be ruthless," Buffett said in the hearing.
Salomon Brothers was later <a href="https://archive.nytimes.com/dealbook.nytimes.com/2008/09/24/warren-buffett-and-the-salomon-saga/">acquired </a>by Travelers Group, netting a profit for Berkshire Hathaway and showing how Buffett helped saved the company. 
You may not be a billionaire like Warren Buffett, but you can uncover hidden gems in the stock market using our proprietary data and pattern recognition — <a href="https://www.benzinga.com/general/social-media/24/12/42490690/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">check out five stocks flying under the radar that deserve your attention.</a>
Why It's Important: Buffett has used the Salomon Brothers case as an important learning lesson over the years when discussing the newspaper test and the value of reputation.
Salomon Brothers knew one of their employees was a bad actor and didn't report and kept trying to shove the story away, before coming within inches of destroying the company, Buffett once said.
Buffett said all the company had to do was pick up the phone and report the trading activity but instead former Salomon CEO John Gutfreund, who was once called the "King of Wall Street," destroyed his career.
One of Buffett's most important lessons he tells his managers revolves around the concept of reputation.
"We can afford to lose money, even a lot of money. We can't afford to lose reputation. Even a shred of reputation. Let's be sure that everything we do in business can be reported on the front page of a national newspaper," Buffett <a href="https://www.youtube.com/watch?v=C5_vvcnFCgM">said </a>in another interview.
In the interview, Buffett mentioned that Berkshire Hathaway had been named one of the most admired companies in the world, something that took 37 years to accomplish.
"We could lose it in 37 minutes and that's the message."
Buffett said that once reputation is lost, you may not get it back.
"Can lose it in five minutes."
A strong focus on reputation could be among the reasons why Berkshire Hathaway has stood the test of time and Buffett has been able to spot good CEOs and companies to invest in.
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Photo: Shutterstock

Education

Management

Success Stories

Warren Buffett's Chilling Warning To Employees: 'Lose A Shred Of Reputation For The Firm And I Will Be Ruthless'

Kevin O'Leary, chairman of O'Leary Ventures and a prominent investor on Shark Tank, was straightforward during a recent <a href="https://www.youtube.com/watch?v=4pS2TdlwT7Q">interview</a> on Fox Business. He firmly declared that it was time to stop treating China as a developing nation, calling the status outdated and unfair. O'Leary also warned that China is engaged in what he described as &#8220;an economic war with us.&#8221;
The investor pointed out a significant issue with how the World Trade Organization (WTO) designates China as a developing nation. This classification allows China to receive special benefits, including sweetheart loans that O'Leary says American taxpayers partially fund. He stated bluntly, "China is not a developing nation. They're at economic war with us and European countries."
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O'Leary explained that these benefits have <a href="https://www.benzinga.com/startups/24/08/40544141/they-have-screwed-me-over-the-last-12-years-says-kevin-oleary-cheers-for-tariffs-squeeze-chinese-hea">given China an unfair advantage</a> for decades. "Forty years of getting screwed, that's what happened," he said, highlighting how the U.S. and other nations have essentially subsidized China's rise while their economies have faced challenges.
<h2 class="wp-block-heading">A Hardline Stance on Trade</h2>
O'Leary shared his frustrations as a business owner who has faced what he described as unfair practices by China. "They don't play by the rules; there's nothing reciprocal in our relations," he said. For O'Leary, the solution is clear: hit China where it hurts most – their economy. He argued that the only way to get China's attention is through "very selected <a href="https://www.benzinga.com/news/24/10/41417400/kevin-oleary-calls-for-400-tariffs-on-china-but-his-shark-tank-co-star-and-billionaire-investor-mark">high-impact weaponry like tariffs</a>."
According to O'Leary, imposing tariffs on sectors critical to Chinese employment could force the government to rethink its approach. "If you want to mess with the largest economy that you trade with, we will force a lot of people that make yoga mats or electronics or whatever else it is to be unemployed in your city," he said. "They'll be rioting in the streets, and you'll be out of power."
See Also: Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Many are rushing to grab 4,000 of its pre-IPO shares for just $0.26/share!</a>
<h2 class="wp-block-heading">Time to Get Tough</h2>
O'Leary expressed hope that the future administration would address the problem head-on. He underscored the importance of a hard-line approach, saying, "You gotta be hard core. [President Xi] only understands the stick. That's all he understands."
O'Leary's comments reflected his belief that the U.S. has been too lenient with China for far too long. He blamed previous administrations – Democratic and Republican – for continuing this scenario. "When there's a Democrat in the White House, they go right along," he said, pointing to a history of inaction.
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'China Is Not A Developing Nation,' Says Kevin O'Leary Claims They're At 'An Economic War With Us'

Travelers Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) has outperformed the market over the past 20 years by 1.44% on an annualized basis producing an average annual return of 9.77%. Currently, Travelers Companies has a market capitalization of $54.46 billion. 
Buying $100 In TRV: If an investor had bought $100 of TRV stock 20 years ago, it would be worth $648.65 today based on a price of $239.87 for TRV at the time of writing.
<h3>Travelers Companies's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1735600507_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Travelers Companies Stock In The Last 20 Years

The U.S. Treasury Department announced on Monday it was targeted by a Chinese state-sponsored hacking group that gained unauthorized access to government workstations and unclassified documents. This revelation, detailed in a letter reviewed <a href="https://www.washingtonpost.com/technology/2024/12/30/treasury-hack-china-national-security/">by</a>&nbsp;The Washington Post, highlights significant vulnerabilities in federal cybersecurity infrastructure.
The breach was discovered on Dec. 8, when BeyondTrust, a third-party software provider, notified the department that a hacker had exploited a security key. This key enabled the intruder to bypass critical security protocols and infiltrate Treasury Department office workstations, gaining access to sensitive but unclassified documents stored on them. The Treasury Department subsequently classified the incident as a &#8220;major incident,&#8221; aligning with its policy of treating nation-state cyber intrusions as significant threats.
Treasury officials are working with law enforcement and the Cybersecurity and Infrastructure Security Agency (CISA), a Treasury spokesperson said in a <a href="https://www.cnn.com/2024/12/30/investing/china-hackers-treasury-workstations/index.html">statement to</a> CNN, and that the compromised service has been taken offline.
"There is no evidence indicating the threat actor has continued access to Treasury systems or information," the Treasury spokesperson said, per CNN.
See Also: <a href="https://www.benzinga.com/news/global/24/12/42643821/biden-administration-initiates-trade-probe-on-chinese-legacy-chips">Biden Administration Initiates Trade Probe On Chinese &#8216;Legacy&#8217; Chips</a>
The hack underscores escalating cyber threats from foreign actors, particularly China, which has been implicated in several high-profile cyber intrusions targeting U.S. government and private sector systems. 
The breach also raises questions about the reliance on third-party software providers for critical operations and the adequacy of existing security protocols. Experts warn that such intrusions could potentially compromise sensitive government data and disrupt essential services, underscoring the need for robust cybersecurity strategies and increased investments in digital defense mechanisms.
This article was generated using artificial intelligence.
Read Next: <a href="https://www.benzinga.com/general/social-media/24/12/42730341/gamestops-comeback-trumps-meme-stock-magic-retail-vs-wall-street-2024">• GameStop&#8217;s Comeback, Trump&#8217;s Meme Stock Magic: Retail Vs. Wall Street 2024</a>
Photo: Shutterstock

Government

Legal

Global

China-Linked Hackers Breach US Department Of Treasury

Analog Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADI#NASDAQ">ADI</a>) has outperformed the market over the past 15 years by 1.96% on an annualized basis producing an average annual return of 13.54%. Currently, Analog Devices has a market capitalization of $105.37 billion. 
Buying $1000 In ADI: If an investor had bought $1000 of ADI stock 15 years ago, it would be worth $6,711.71 today based on a price of $212.31 for ADI at the time of writing.
<h3>Analog Devices's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1735599607_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In This Stock 15 Years Ago Would Be Worth This Much Today

CRH (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRH#NYSE">CRH</a>) has outperformed the market over the past 5 years by 5.8% on an annualized basis producing an average annual return of 18.58%. Currently, CRH has a market capitalization of $62.67 billion. 
Buying $100 In CRH: If an investor had bought $100 of CRH stock 5 years ago, it would be worth $225.51 today based on a price of $92.46 for CRH at the time of writing.
<h3>CRH's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1735598714_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $100 In This Stock 5 Years Ago, You Would Have This Much Today

Comfort Systems USA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIX#NYSE">FIX</a>) has outperformed the market over the past 10 years by 27.29% on an annualized basis producing an average annual return of 38.69%. Currently, Comfort Systems USA has a market capitalization of $15.20 billion. 
Buying $1000 In FIX: If an investor had bought $1000 of FIX stock 10 years ago, it would be worth $25,860.84 today based on a price of $427.00 for FIX at the time of writing.
<h3>Comfort Systems USA's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1735597818_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $1000 Invested In Comfort Systems USA 10 Years Ago Would Be Worth Today

Direxion Daily Mid Cap Bull 3X Shares declares quarterly distribution of $0.0499

Direxion Daily Mid Cap Bull 3X Shares declares quarterly distribution of $0.2453

Direxion Daily Mid Cap Bull 3X Shares declares quarterly distribution of $0.1313

Saturday marks President Donald Trump&#39;s 100th day in office. And while the country remains divided over his actions, it cannot be refuted that U.S. equities have performed well since Trump was sworn in on January 20th. Since Trump took the oath of office two of the most popular large-cap indexes, the S&amp;P 500 and NASDAQ 100, are up about 5.7 percent and 10 percent respectively.
Predictably, some leveraged exchange-traded funds are enjoying their seats on the &ldquo;Trump train.&rdquo; The Direxion Daily S&amp;P 500 Bull 3X Shares (NYSE:<a class="ticker" href="/stock/SPXL#NYSE">SPXL</a>) has returned about 15 percent since Inauguration Day. As its name implies, SPXL is designed to deliver triple the daily returns of the S&amp;P 500 Index. SPXL has a bearish counterpart, the Direxion Daily S&amp;P 500 Bear 3X Shares (NYSE:<a class="ticker" href="/stock/SPXS#NYSE">SPXS</a>),which which is down about the same amount over Trump&#39;s first 100 days in office.
While SPXL&#39;s recent performance is undoubtedly compelling, traders should remember that holding leveraged ETFs for weeks or months on end is a dangerous bet because ETFs such as SPXL and SPXS are designed to be intraday instruments, not long-term investments.&nbsp;
While large-cap US. stocks and their related exchange traded funds have been solid performers this year, things aren&#39;t quite the same for the small-caps.
<h3>
	Small-Cap Performance</h3>
Small-caps stocks and ETFs recently regained some lost momentum, ascending to record highs. That has been good news for the Direxion Daily Small-Cap 3X Bull Shares (NSYE: TNA). TNA, one of the most heavily traded leveraged small-cap ETFs, seeks to deliver triple the daily returns of the widely followed Russell 2000 Index.
However, TNA&#39;s bearish counterpart, the Direxion Daily 3X Bear Shares(NYSE:<a class="ticker" href="/stock/TZA#NYSE">TZA</a>), could soon get its turn in the spotlight as small-cap valuations climb to multi-year highs. TZA attempts to deliver triple the daily inverse returns of the Russell 2000.
&ldquo;On forward P/E, small caps and mid-caps currently trade at the 98th percentile of their historical valuation range (since 1979) vs. the 87th percentile for large caps,&rdquo; said Bank of America Merrill Lynch in a note out Friday. &ldquo;Given that small caps now trade at Tech Bubble-like valuations in our view it does not bode well for future long-term returns.&rdquo;
Since January 20 TNA is up 10 percent, while TZA is down 14 percent.&nbsp;
<h3>
	Mid-Cap Performance</h3>
Mid-caps have been decent performers over Trump&#39;s first 100 days in office. For example, the Direxion Daily Mid Cap Bull 3X Shares (NYSE:<a class="ticker" href="/stock/MIDU#NYSE">MIDU</a>) is up about 11 percent. MIDU seeks to deliver <a href="http://www.direxioninvestments.com/products/direxion-daily-mid-cap-bull-3x-etf">triple the daily returns</a> of the widely followed S&amp;P MidCap 400 Index (which has had a relatively strong 2017 in line with the rest of the market).
Its bearish counterpart on the other hand, the Direxion Daily Mid Cap Bear 3X Shares (NYSE:<a class="ticker" href="/stock/MIDZ#NYSE">MIDZ</a>) is down about 13 percent.&nbsp;
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&lt;p&gt;&lt;em&gt;&lt;a href=">Image Credit: By U.S. Department of the Interior - 2063, Public Domain, </a><a href="https://commons.wikimedia.org/w/index.php?curid=57497076">via Wikimedia Commons</a>

Leveraged ETFs In Trump's First 100 Days

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