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The Fund is an actively-managed exchange-traded fund (ETF) and seeks to achieve its objective principally by investing in instruments linked directly or indirectly to the performance and/or volatility of the S&P 500 Index (the S&P 500) based on statistical analyses, described below, that seek to estimate the direction of the S&P 500. Such instruments may include index-based and other ETFs (including leveraged ETFs) with long exposure to the S&P 500, U.S. Treasury securities, or instruments linked to the Cboe Volatility Index (the VIX Index); securities issued by the U.S. government or its agencies or instrumentalities; and options and futures contracts on the S&P 500 or VIX Index. The Fund may also invest the remainder of its portfolio directly or indirectly in cash and cash equivalents.

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Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CEO Mark Zuckerberg on Wednesday said that his company&#8217;s $405 billion model, Llama 3.1, has &#8220;better cost performance&#8221; compared to leading closed models, possibly referring to OpenAI&#8217;s ChatGPT.
What Happened: During <a href="https://www.benzinga.com/news/earnings/24/07/40081701/meta-platforms-q2-earnings-revenue-beat-eps-beat-strong-guidance-meta-ai-is-on-track-to-be-the-most">Meta&#8217;s second-quarter earnings</a> call, Zuckerberg stated, &#8220;I think we are going to look back at Llama 3.1 as an inflection point in the industry where open-source AI started to become the industry standard, just like Linux is.&#8221; 
He went on to explain his bullish stance on open source, stating it enables faster innovation, creates shared prosperity, and is safer. &#8220;My view is that Open Source will be safer, will enable innovation that improves all of our lives faster, and we&#8217;ll also create more shared prosperity.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/07/40031960/microsofts-windows-reportedly-warns-users-to-backup-their-data-in-the-cloud-to-have-peace-of-mind-bu?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Microsoft&#8217;s Windows Reportedly Warns Users To Backup Their Data In The Cloud To Have &#8216;Peace Of Mind&#8217; — But At What Price?</a>
Zuckerberg also highlighted Meta&#8217;s successful track record with open source, citing billions of dollars saved through the open compute project and real benefits derived from open-sourcing tools like PyTorch and React.
The Meta CEO also revealed that work has already begun on Llama 4, which is expected to be the most advanced model in the industry next year.
&#8220;The amount of compute needed to train Llama 4 will likely be almost 10 times more than what we used to train Llama 3, and future models will continue to grow beyond that,&#8221; he stated.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: Earlier this month, during a fireside chat at SIGGRAPH 2024, Zuckerberg <a href="https://www.benzinga.com/news/24/07/40027527/mark-zuckerberg-gets-triggered-by-closed-ai-models-at-siggraph-2024-drops-f-bomb-while-talking-with">expressed his frustration</a> with closed platforms. 
He said, &#8220;There have just been too many things I've tried to build and told ‘nah, you can't really build that' by the platform provider, that at some level I'm just like, ‘Nah, f&#x2A;&#x2A;&#x2A; that.'&#8221;
His stance on open-source AI models was supported by Tesla CEO and xAI founder Elon Musk, who <a href="https://www.benzinga.com/news/24/07/39925842/elon-musk-agrees-with-arch-rival-mark-zuckerberg-after-meta-ceo-slams-closed-providers-like-openai-f">publicly expressed</a> his agreement with Zuckerberg&#8217;s views.
Previously, <a href="https://www.benzinga.com/news/24/07/39930463/zuckerberg-says-sam-altman-deserves-a-lot-of-credit-but-highlights-the-irony-in-his-firm-named-opena">Zuckerberg also acknowledged</a> the contributions of Sam Altman to OpenAI's development but pointed out the irony in his company leading closed AI models while having the word &#8220;open&#8221; in its name.
Meanwhile, on Wednesday, Meta reported second-quarter revenue of $39.07 billion, surpassing analyst predictions of $38.31 billion. The company also reported adjusted earnings of $5.16 per share for the second quarter, exceeding the estimated $4.73 per share.
Price Action: Meta shares surged by 7.17% in after-hours trading, reaching $508.87 at the time of writing. The regular session on Wednesday concluded with a 2.51% increase, closing at $474.83, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: 
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</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

News

Markets

Tech

Mark Zuckerberg Says Meta's $405B Model Llama 3.1 Has Better Cost Performance Than OpenAI's ChatGPT: This Is An 'Inflection Point In The Industry'

In a recent episode of CNBC&#8217;s &#8220;Mad Money,&#8221; host Jim Cramer suggested that three media stocks are likely to perform well in the lead-up to the upcoming presidential election.
What Happened: Cramer, who is known for his stock recommendations, highlighted Fox Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOX#NASDAQ">FOX</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOXA#NASDAQ">FOXA</a>), The New York Times Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYT#NYSE">NYT</a>), and Nexstar Media Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXST#NASDAQ">NXST</a>) as potential winners in the media sector, CNBC <a href="https://www.cnbc.com/2024/07/31/jim-cramer-recommends-three-media-stocks-in-the-run-up-to-the-election.html">reported</a> on Wednesday.
He pointed out that the upcoming election could significantly impact these companies, with increased viewership and political ad spending likely to boost their revenues.
"As much as I really do loathe talking politics on the show, I think the suddenly close election gives you an opportunity to try to profit from some of the media stocks that are about to be inundated with both viewers and political ad dollars," he said.
Regarding Fox, Cramer emphasized the potential growth from its live programming, particularly sports and news, due to its extensive deals with the NFL and college football. He also predicted a surge in viewership for Fox News in the months leading up to the November election.
He also recommended The New York Times, suggesting that a close election or a win by former President Donald Trump would further boost the company&#8217;s stock. Cramer noted that Trump&#8217;s presidency had driven increased news engagement and subscriber growth for the Times.
As for Nexstar, Cramer highlighted the company&#8217;s local TV stations, which could generate significant advertising revenue as candidates and super PACs invest in commercials over the next three months, particularly in battleground states.
However, Cramer cautioned that Nexstar is more of a trade than an investment and could face challenges post-election, similar to many traditional TV companies.
"When you look at the polling, suddenly we've got a close race," Cramer said. "Putting aside the polling, what really matters are the expectations, because Wall Street's an expectations machine."
See Also: <a href="https://www.benzinga.com/news/earnings/24/07/40004774/dow-jumps-over-650-points-following-inflation-data-fear-greed-index-moves-to-neutral-zone?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dow Jumps Over 650 Points Following Inflation Data: Fear &amp; Greed Index Moves To &#8216;Neutral&#8217; Zone</a>
Why It Matters: The media landscape is poised for significant changes as the 2024 presidential election approaches. Cramer has previously suggested that a second term for Trump could positively impact the stock market, as Trump's policies might favor market growth. 
Cramer pointed out that Trump&#8217;s reliance on stock market performance to gauge his success could <a href="https://www.benzinga.com/markets/equities/24/06/39562285/jim-cramer-says-trumps-return-to-white-house-could-be-good-for-your-portfolio-hate-him-or-like-h">lead to bullish measures</a>.
Additionally, Cramer has identified stocks that could <a href="https://www.benzinga.com/markets/equities/24/07/39785609/jim-cramer-says-these-stocks-could-soar-or-sink-if-trump-wins-2024-election">soar or sink if Trump wins</a> the 2024 election. He noted that the recent assassination attempt on Trump has intensified speculation about his chances of reelection. Cramer remarked, &#8220;After this weekend, it sure seems like the Trump stocks are back,&#8221; but he also warned that market dynamics can shift rapidly.
The race between Vice President Kamala Harris and Trump is particularly tight, with recent polls showing a narrow lead for Trump, <a href="https://www.benzinga.com/news/24/07/39999519/trump-vs-harris-latest-survey-indicates-positive-signs-for-this-candidate">according to a survey</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40002999/bitcoin-ethereum-dogecoin-move-sideways-as-trump-raises-pro-crypto-pitch-why-does-this-ana?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Move Sideways As Trump Raises Pro-Crypto Pitch &#8211; Why Does This Analyst Think Longing King Crypto Could Soon Be A Good Option?</a></li>
</ul>
Image Via Shutterstock 
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/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Equities

Media

FOXA

NXST

Jim Cramer Selects 3 Media Stock Winners As Tight Race Between Trump And Kamala Harris Unfolds: 'About To Be Inundated With Both Viewers And Political Ad Dollars'

Former Secretary of State Hillary Clinton recently took to X to highlight the contradictions in the Trump campaign&#8217;s stance on Project 2025.
What Happened: On Wednesday, Clinton said, &#8220;The Trump campaign is so distanced from Project 2025, his VP literally wrote the foreword to the book.&#8221; This tweet comes in the wake of former President Donald Trump&#8217;s public disassociation from Project 2025.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The Trump campaign is so distanced from Project 2025, his VP literally wrote the foreword to the book. <a href="https://t.co/EiAFqYgWTw">https://t.co/EiAFqYgWTw</a>
&mdash; Hillary Clinton (@HillaryClinton) <a href="https://twitter.com/HillaryClinton/status/1818658543714627600?ref_src=twsrc%5Etfw">July 31, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also: <a href="https://www.benzinga.com/general/politics/24/07/40070258/trump-vs-harris-election-forecaster-with-9-out-of-10-accurate-predictions-gives-this-candidate-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Harris: Election Forecaster With 9 Out Of 10 Accurate Predictions Gives This Candidate The Edge</a>
Clinton was referring to a report that Trump&#8217;s running mate Sen. J.D. Vance (R-Ohio) had been linked to a foreword of an upcoming book by Heritage Foundation President Kevin Roberts titled &#8220;Dawn&#8217;s Early Light.&#8221;
&#8220;Never before has a figure with Roberts's depth and stature within the American Right tried to articulate a genuinely new future for conservatism,&#8221; wrote Vance, praising Roberts who spearheads the organization linked with Project 2025.
&#8220;The Heritage Foundation isn't some random outpost on Capitol Hill; it is and has been the most influential engine of ideas for Republicans from Ronald Reagan to Donald Trump,&#8221; <a href="https://apnews.com/article/jd-vance-foreword-heritage-foundation-project-2025-a34d091fd401056c938c8897c1ebabd6">reported</a> The Associated Press.
Why It Matters: Earlier, at a Michigan rally, Trump had described Project 2025 as &#8220;far-right&#8221; and &#8220;extreme,&#8221; distancing himself from the contentious agenda. Project 2025, a supposed &#8220;governing agenda,&#8221; was devised by a number of right-wing groups, including some former Trump White House officials.
The post by Clinton points to the contradictions within the Trump campaign. Furthermore, Trump&#8217;s niece, Mary Trump, has <a href="https://www.benzinga.com/news/24/07/39761289/trumps-niece-accuses-him-of-lying-about-involvement-in-controversial-project-2025-my-uncle-likes-to">accused him of lying</a> about his knowledge and participation in the project, arguing that evidence points to his ties with the project.
These contradictions have added to the controversy surrounding Project 2025, which was reportedly devised by insiders from the Trump administration and the Heritage Foundation to reshape the federal government.
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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>

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Hillary Clinton Questions Trump Campaign's Efforts To Distance Itself From Project 2025: JD Vance 'Literally Wrote The Foreword To The Book'

Senator Cynthia Lummis (R-Wyo.) officially introduced legislation to establish a U.S. strategic Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) reserve, aiming to enhance the U.S. dollar&#8217;s strength and address the national debt.&nbsp;
What Happened: Sharing details of the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide Act, or simply the BITCOIN Act, Lummis wrote on X, "The wait is over. This is our Louisiana Purchase moment."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The wait is over. This is our Louisiana Purchase moment. Read the text for my BITCOIN Act below &#x2b07;&#xFE0F;&#x2b07;&#xFE0F;<a href="https://t.co/mSYJVwn1wI">https://t.co/mSYJVwn1wI</a>
&mdash; Senator Cynthia Lummis (@SenLummis) <a href="https://twitter.com/SenLummis/status/1818743912951169025?ref_src=twsrc%5Etfw">July 31, 2024</a></blockquote>
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The proposed law includes creating a strategic reserve in Bitcoin to support America&#8217;s balance sheet, establishing secure Bitcoin vaults managed by the Department of Treasury, and implementing a $1 million purchase program to acquire 5% of the total supply of the apex cryptocurrency over a 5-year period.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40056589/trump-odds-tumble-sharply-after-bidens-withdrawal-on-crypto-betting-platform-polymarket-tr">Trump Odds Tumble Sharply After Biden&#8217;s Withdrawal On Crypto Betting Platform; Polymarket Trader Down $72,000 After Betting On Former President</a>
The bill outlines a minimum holding period of 20 years, and no Bitcoins held in the reserve should be sold or auctioned.
The funding for Bitcoin purchases will be through diversifying existing Federal Reserve and Treasury funds.
"Bitcoin is transforming not only our country but the world and becoming the first developed nation to use Bitcoin as a savings technology secures our position as a global leader in financial innovation," Lummis stated.&nbsp;
Why It Matters: Lummis' official proposal comes days after she verbally advocated for a similar policy at the recent Bitcoin 2024 conference.&nbsp;
Republican presidential nominee Donald Trump was the biggest draw at the event, as he advocated for a national Bitcoin stockpile and vowed to make the U.S. the "crypto capital of the planet."&nbsp;
The former president raised <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40070328/trump-raises-25m-at-bitcoin-conference-in-nashville-second-highest-fundraiser-across-campa">$25 million by participating in the conference</a>, making it his second-highest fundraiser across his three presidential campaigns.
Nobel laureate and renowned economist Paul Krugman <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40060902/paul-krugman-slams-trumps-bitcoin-advocacy-nobel-laureate-calls-it-government-bailout-of-a">blasted the Republican Party&#8217;s push for a strategic Bitcoin reserve</a>, calling it a &#8220;government bailout of a scandal-ridden, value and environment-destroying industry.&#8221;
Price Action: At the time of writing, Bitcoin is exchanging hands at $64,583.30, down 2.66% in the last 24 hours, 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 Courtesy: Wikimedia Commons
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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Cynthia Lummis Unveils Strategic Bitcoin Reserve Legislation: 'This Is Our Louisiana Purchase Moment'

The United Auto Workers (UAW) union has thrown its weight behind Vice President Kamala Harris in her quest for the U.S. presidency. This endorsement could potentially enhance her campaign in Michigan, a crucial swing state.
What Happened: As reported by Reuters on Wednesday, the UAW&#8217;s executive board voted to endorse Harris, following their endorsement of President Joe Biden earlier this year. Biden withdrew from the race on July 21.
UAW President Shawn Fain praised Harris&#8217;s track record of supporting the working class and her commitment to combating corporate greed. He mentioned her participation in the picket line with striking auto workers in 2019.
Harris expressed her gratitude for the endorsement on X, stating, &#8220;I am honored to receive the endorsement of the United Auto Workers. From walking picket lines to taking on big banks, I have spent my entire career fighting for unions and working families—and, as President, I will continue to deliver for organized labor.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I am honored to receive the endorsement of the United Auto Workers. From walking picket lines to taking on big banks, I have spent my entire career fighting for unions and working families—and, as President, I will continue to deliver for organized labor. <a href="https://t.co/CQc4K0YOBW">https://t.co/CQc4K0YOBW</a>
&mdash; Kamala Harris (@KamalaHarris) <a href="https://twitter.com/KamalaHarris/status/1818795213483134995?ref_src=twsrc%5Etfw">July 31, 2024</a></blockquote>
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According to Fain, Harris is scheduled to rally with UAW members in Detroit on August 7. The endorsement could prove significant, given the large number of UAW members based in Michigan, a key battleground state.
See Also: <a href="https://www.benzinga.com/news/24/07/40031185/after-trumps-taiwan-comments-president-lai-ching-te-says-chinas-threat-to-any-individual-country-is?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">After Trump&#8217;s Taiwan Comments, President Lai Ching Te Says &#8216;China&#8217;s Threat To Any Individual Country Is A Threat To The World&#8217;</a>
Why It Matters: The UAW&#8217;s endorsement of Harris comes after a series of events that have shaped the union&#8217;s political stance. In January, the UAW had <a href="https://www.benzinga.com/news/24/01/36771258/joe-biden-gets-united-auto-workers-backing-shawn-fain-says-donald-trump-blamed-the-american-worker">endorsed</a> President Joe Biden praising his support during the union's recent strike against major automakers. 
However, concerns about Biden&#8217;s re-election chances against Donald Trump surfaced in July, <a href="https://www.benzinga.com/news/24/07/39748499/uaw-president-shawn-fain-worried-about-bidens-re-election-chances-against-trump-report">leading to discussions</a> on the union's potential strategies. Amid these developments, UAW President Fain was also under investigation for <a href="https://www.benzinga.com/news/24/07/39707474/uaw-president-shawn-fain-probed-for-alleged-demands-to-benefit-his-domestic-partner">alleged demands</a> to benefit his domestic partner.
Photo: Lev Radin via Shutterstock
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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>

Kamala Harris Says Proud To Recieve UAW Endorsement: 'Spent Entire Career Fighting For Unions And Working Families'

North Korea has indicated a willingness to re-engage in nuclear discussions with the United States, provided Donald Trump secures a second term in office. This information comes from Ri Il Gyu, a senior North Korean diplomat who defected to South Korea.
What Happened: Ri, a high-ranking North Korean diplomat who recently defected to South Korea from Cuba, disclosed that North Korea is formulating a new negotiation strategy, as reported by Reuters on Saturday. The strategy aims to lift sanctions on North Korea&#8217;s weapons programs, remove its label as a state sponsor of terrorism, and secure economic aid.
Ri&#8217;s remarks represent a significant departure from North Korea&#8217;s previous position, which ruled out dialogue with the U.S. and suggested the possibility of armed conflict. Ri partly blamed the failure of the 2019 Vietnam summit between North Korean leader Kim Jong Un and Trump on Kim&#8217;s decision to entrust &#8220;inexperienced, clueless&#8221; military commanders with nuclear diplomacy.
&#8220;Kim Jong Un doesn&#8217;t know much about international relations and diplomacy, or how to make strategic judgment,&#8221; said Ri.
North Korea has enhanced its bargaining power against Washington by strengthening ties with Russia, which has provided assistance with missile technology and economic support. Ri also noted that Kim is open to a summit with Japan, seeking economic aid in exchange for concessions on the issue of Japanese nationals kidnapped by North Korea in the 1970s and 80s.
See Also: <a href="https://www.benzinga.com/news/24/07/40027252/trump-white-house-official-john-bolton-says-jd-vance-may-have-youth-factor-but-highlights-ex-preside?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump White House Official John Bolton Says JD Vance May Have &#8216;Youth Factor&#8217; But Highlights Ex-President&#8217;</a>
Why It Matters: This development follows a series of events that have shaped the current situation. Earlier this month, Ri defected from North Korea to South Korea, <a href="https://www.benzinga.com/news/24/07/39809871/kim-jong-uns-cuba-expert-fled-north-korean-regime-ends-up-in-south-korea">expressing his disillusionment</a> with North Korea&#8217;s political system. Around the same time, former U.S. diplomat Richard Grenell suggested that Trump might renew diplomatic ties with North Korea if re-elected, according to another <a href="https://www.benzinga.com/news/24/07/39860142/trump-would-pursue-diplomacy-with-any-nation-if-re-elected-says-former-diplomat-citing-engagement-wi">Benzinga</a> article.
However, North Korea initially dismissed Trump&#8217;s claims of a <a href="https://www.benzinga.com/news/24/07/39925959/kim-jong-un-rejects-donald-trumps-friendship-claims-north-korea-says-we-do-not-care-expresses-nuclea">friendly relationship</a> with Kim and maintained its readiness for any U.S. leader. Furthermore, North Korea&#8217;s recent <a href="https://www.benzinga.com/news/24/07/40004935/after-kim-jong-uns-defense-pact-with-russia-global-economy-could-lose-4-trillion-if-war-erupts-betwe">defense pact</a> with Russia, as reported by Benzinga, has added another layer of complexity to the situation.
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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>

Kim Jong Un Reportedly Willing To Resume Nuclear Talks If Trump Returns To White House, Reveals North Korean Diplomat Who Switched Sides

In a recent event at the National Association of Black Journalists convention in Chicago, former President Donald Trump made unfounded allegations about Vice President Kamala Harris&#8217; racial identity.
What Happened: Trump falsely insinuated that Harris, who is the first Black woman and Asian American to hold the vice presidency, had only identified as Indian in the past. "I didn't know she was Black until a number of years ago when she happened to turn Black and now she wants to be known as Black. So, I don't know, is she Indian or is she Black?" Trump questioned during his speech at the convention, <a href="https://apnews.com/article/trump-black-journalists-convention-nabj-1e96aa530e88013ed6f577feaf89ccb6">reported</a> AP News.
Michael Tyler, the communications director for Harris' campaign, condemned Trump&#8217;s comments, stating, "the hostility Donald Trump showed on stage today is the same hostility he has shown throughout his life, throughout his term in office, and throughout his campaign for president as he seeks to regain power."
See Also: <a href="https://www.benzinga.com/news/24/07/40031185/after-trumps-taiwan-comments-president-lai-ching-te-says-chinas-threat-to-any-individual-country-is?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">After Trump&#8217;s Taiwan Comments, President Lai Ching Te Says &#8216;China&#8217;s Threat To Any Individual Country Is A</a>
White House press secretary Karine Jean-Pierre, who is Black, labeled Trump&#8217;s comments as "repulsive" and stated, "It's insulting and no one has any right to tell someone who they are how they identify."
Trump has a track record of racially charged attacks on his opponents and critics. He gained notoriety in Republican politics by spreading false theories that President Barack Obama, the first Black president of the nation, was not born in the United States.
Why It Matters: Trump's unfounded claims come in the wake of a <a href="https://www.benzinga.com/news/24/07/39947274/trump-takes-aim-at-kamala-harris-in-first-rally-post-bidens-exit-calls-her-a-radical-left-lunatic-vp">series of attacks</a> on Harris, which started after President Joe Biden announced he would not seek re-election. Trump has been targeting Harris on various issues, including her prosecutorial record and her stance on immigration and inflation.
Trump and Harris are likely to face each other in the 2024 presidential election, with polls showing a <a href="https://www.benzinga.com/general/politics/24/07/40055183/trump-vs-harris-vice-president-leads-2024-election-by-1-point-hits-records-for-net-buzz-net-favo">close race</a> between the two.
Image via Shutterstock Did You Know?
Congress Is Making Huge Investments. Get Tips On What They Bought And Sold Ahead Of The 2024 Election <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent073124">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>

Trump Gets Slammed For Falsely Questioning Kamala Harris' Race: 'It's Insulting...'

QQQY

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

EVOK

In less than four months, voters will head to the polls to vote between Kamala Harris and Donald Trump in the<a href="https://www.benzinga.com/topic/2024-election"> 2024 presidential election.</a>
A close race is expected between the two candidates, with the potential for swing states and key demographics to play an increasingly important role in the election.
A new election poll shows Harris gaining steam in these key areas.
What Happened: Vice President Harris has <a href="https://www.benzinga.com/general/politics/24/07/40070258/trump-vs-harris-election-forecaster-with-9-out-of-10-accurate-predictions-gives-this-candidate-t">been gaining support </a>in new election polls since President Joe Biden dropped out of the 2024 presidential election race.
A new Morning Consult poll of nationally registered voters showed Harris <a href="https://www.benzinga.com/general/politics/24/07/40055183/trump-vs-harris-vice-president-leads-2024-election-by-1-point-hits-records-for-net-buzz-net-favo">with a one-point lead </a>over Trump.
While the national vote matters, attention could be shifting to the swing states that have been close in past elections and could sway the election results.
A new Bloomberg News/Morning Consult <a href="https://www.bloomberg.com/news/features/2024-07-30/kamala-harris-erases-trump-s-swing-state-lead-in-2024-election-poll">poll </a>of registered voters shows how residents in swing states would vote if the election were held today.
Overall, Harris won the latest swing state poll with 48% support compared to Trump's 47%. Biden trailed Trump by two points in the last swing state poll before dropping out.
Here are the state-by-state results:
<ul>
<li>Arizona: Harris 49%, Trump 47%</li>
<li>Georgia: Harris 47%, Trump 47%</li>
<li>Michigan: Harris 53%, Trump 42%</li>
<li>Nevada: Harris 47%, Trump 45%</li>
<li>North Carolina: Trump 48%, Harris 46%</li>
<li>Pennsylvania: Trump 50%, Harris 46%</li>
<li>Wisconsin: Harris 49%, Trump 47%</li>
</ul>
Harris has now taken the lead away from Trump in Arizona and Nevada which he had once over Biden and she doubled the lead Biden once had in the state of Michigan, according to the report.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent073124">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: While the headline figures are great for Harris and troublesome for Trump and the Republicans, another statistic from the poll could also factor in.
Over one-third of voters polled said they are more likely to vote in the 2024 presidential election now that Biden has dropped out. This could be a positive for the Democrats with some voters likely planning to avoid the election with Biden running once again.
The positives for Trump in the poll are immigration and the economy still ranking as top issues among voters in the swing states with the former president favored to handle both key issues versus Biden previously and now Harris.
These&nbsp;<a href="https://www.benzinga.com/general/politics/24/03/37884006/trump-vs-biden-key-swing-states-arizona-nevada-michigan-wisconsin-show-close-races-heres-the-rol" target="_blank" rel="noreferrer noopener">seven swing states&nbsp;</a>together represent 93 electoral votes in the 2024 election. Six of the seven swing states were won by Biden in the 2020 election, with Trump winning North Carolina. Five of the seven swing states won by Biden in 2020 flipped from Trump&#8217;s win in 2016.
Check This Out:
<ul>
<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent073124">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Photo: Shutterstock

Harris Vs. Trump: Vice President Has Passed Former President In Swing States, Could Biden Stepping Down Secure Victory In Battleground Territories?

The escalation in Venezuela after <a href="https://www.benzinga.com/news/24/07/40012327/us-expresses-serious-concern-as-both-venezuelan-president-nicolas-maduro-and-opposition-claim-electi">a disputed election vote</a> could lead to billionaire Elon Musk and the leader of the country fighting.
Here's the latest.
What Happened: In 2023, an ongoing feud between Tesla Inc CEO Musk and Meta Platforms CEO Mark Zuckerberg led to a challenge to turn the battle<a href="https://www.benzinga.com/general/entertainment/24/03/37759876/musk-vs-zuckerberg-billionaire-battle-could-heat-up-with-meta-platforms-ceo-2-billion-away-"> into a cage fight.</a>
While both parties never met in the cage, Musk has taken on a new fight challenge.
A disputed election in Venezuela that current President Nicolas Maduro claimed victory led to <a href="https://www.benzinga.com/news/24/07/40003819/elon-musk-calls-venezuela-elections-a-travesty-as-nicolas-maduro-wins-third-term-amid-fraud-allegati">Musk accusing the </a>world leader of "major election fraud."
Maduro did not take kindly to the fraud allegations and <a href="https://www.benzinga.com/news/24/07/40027649/nicolas-maduro-challenges-elon-musk-as-both-exchange-heated-words-after-venezuela-election-results-s">issued a fight challenge.</a>
"Do you want to fight? Let's do it. Elon Musk, I'm ready. I'm not afraid of you Elon Musk. Let's fight, where you want," Maduro said on national television.
Maduro accused Musk of potentially invading Venezuela based on comments the billionaire made.
On Wednesday, Musk replied to the fight challenge.
"I accept," Musk <a href="https://x.com/elonmusk/status/1818683475530334368">tweeted</a>.
A proposed fight between Zuckerberg and Musk gained steam thanks to posts on social media platform X. The role of social media and this past fight idea wasn't lost on Musk Wednesday.
"All three of us enter the ring, only one comes out," Musk <a href="https://x.com/elonmusk/status/1818698395646935476">said </a>to a potential fight with Maduro and Zuckerberg.
While X users were quick to say Musk would beat Maduro in a fight, the Tesla CEO gave <a href="https://x.com/elonmusk/status/1818700101520703898">props </a>to the Venezuelan leader.
"Maduro is a big guy himself and probably knows how to fight, so this would be a real fight. Zuck is a little fella, so that would be a short fight lol."
Musk also <a href="https://x.com/elonmusk/status/1818699112134721953">offered </a>up the potential stakes of the fight in a tweet.
"If I win, he resigns as dictator of Venezuela. If he wins, I give him a free ride to Mars."
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent073124">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: Venezuela's election held Sunday saw a reported 51% vote for Maduro and 44% vote for opposition leader Edmundo Gonzalez. Exit polls pointed to a different outcome with Gonzalez receiving 65% and Maduro receiving 31%.
Election results have been contested and residents of Venezuela have been marching in the country in protest with Maduro claiming victory and a third term as president and the continued Socialist rule of the country.
World leaders including Argentine President Javier Milei and U.S. Secretary of State Anthony Blinken are among those who have expressed concern over the election results.
Maduro is now asking the country's top court to certify his victory despite the opposition saying they have proof he lost the election, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-07-31/maduro-asks-friendly-venezuela-court-to-verify-his-election-win?srnd=phx-latest&amp;sref=TBDibEcD">reported</a>. The election "cannot be considered democratic," The Carter Center said after monitoring the election.
The court is controlled by loyalists who have previously issued favorable decisions on issues against the opposition parties, the report said.
Venezuela currently has economic sanctions from the U.S., which will likely continue with the disputed election.
While a fight with Maduro may not happen, Musk recently <a href="https://www.benzinga.com/news/24/07/39947719/elon-musk-says-he-will-fight-mark-zuckerberg-any-place-any-time-any-rules-cage-match-vibes-anyone">threw down a fight challenge </a>to Zuckerberg once again.
"I'll fight Zuckerberg any place, any time, and rules," Musk said in response to the ongoing fight challenge.
Check This Out: • Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent073124">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a>
Photos: Shutterstock

Global

Move Over Zuckerberg, Musk Now Has A Fight With Venezuela President Maduro On His Mind: 'If I Win, He Resigns … If He Wins, I Give Him A Free Ride To Mars'

Guidance

Albemarle Continues To Expect FY24 Net Sales Of $5.5B - $6.2B, Est $5.725B

Vermilion Energy Revises Full-year Production Guidance To 83,000 To 86,000 Boe/D (From 82,000 To 86,000 Boe/D Previously)

RELY

CORRECTION: Remitly Revises FY24 Total Revenue From $1.225B - $1.25B To $1.23B - $1.25B, Est $1.238B

Earnings

SSBI

Summit State Bank Reports Q2 EPS Of $0.14 Vs $0.45 Prior Year

Sony Group Corp.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) <a href="https://store.playstation.com/en-us/category/b2d586f8-d4a1-4c45-8e23-27d580936d5b/1">PlayStation Store's Summer Sale</a> has been a major highlight of 2024, and this week's fresh wave of deals elevates the <a href="https://www.benzinga.com/topic/playstation">event even further. </a>
The second wave brings an expansive array of discounts on PS5 and PS4 games, including some of the year&#8217;s most anticipated titles. With over 4,000 discounts spanning games, in-game currency, and DLC add-ons, there's no shortage of ways to save.
See Also:<a href="https://www.benzinga.com/general/gaming/24/07/39966966/playstation-vr2-expands-to-pc-in-august-with-new-steam-app"> PlayStation VR2 Expands To PC In August With New Steam App</a>
<h1 class="wp-block-heading">Notable Deals On PS5 Games</h1>
Among the standout offers, Marvel's Spider-Man 2 now comes with a $20 discount, priced at $49 — making it one of the best deals for PS5's flagship exclusive. This sale price reflects a significant reduction from its usual $69, presenting an excellent opportunity for fans of the beloved superhero.
Other notable deals include Star Wars Jedi Survivor (Deluxe Edition) reduced to $44 from $89, and Fallout 4, now available for $15 compared to its regular price of $39. 
Helldivers 2, another multiplayer favorite, is now priced at $47, down from $59.
For those seeking further savings, here are some of the most compelling discounts available:
<ul>
<li>Marvel's Midnight Suns: Originally $59, now $19 at Amazon. This game combines strategic turn-based combat with character-building elements, making it a must-play for Marvel enthusiasts.</li>
<li>Returnal: Priced at $29, down from $69. This PS5 exclusive features a unique roguelike structure that challenges players with its intense gameplay and immersive storyline.</li>
<li>God of War Ragnarök: Available for $39, reduced from $69. This sequel continues the epic saga of Kratos and Atreus through Norse mythology's Nine Realms.</li>
</ul>
<h1 class="wp-block-heading">In-Store And Digital Deals</h1>
The sale includes substantial discounts on both physical and digital media. For those who prefer physical copies, Amazon has a range of games on sale, including Riders Republic for $11, down from $59, and Prince of Persia: The Lost Crown at $24, down from $49.
On the digital front, the PlayStation Store offers deep discounts, such as the Mortal Shell Enhanced Edition for just $2, down from $29.
<h1 class="wp-block-heading">Important Sale Details</h1>
The PlayStation Store's second wave of the Summer Sale is live until Wednesday, Aug. 14. Shoppers have until then to take advantage of these discounts. 
For those interested in physical copies or additional accessories, Amazon also offers competitive prices on PS5 accessories, including the DualSense Wireless Controller and Media Remote.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/gaming/24/05/38901025/half-of-playstation-gamers-still-use-ps4-despite-ps5s-strong-sales-heres-why">Half Of PlayStation Gamers Still Use PS4 Despite PS5&#8217;s Strong Sales: Here&#8217;s Why</a></li>
</ul>

Gaming

Sony Group Corporation American Depositary Shares

SONY

Best Deals For PS5, PS4 Games Before PlayStation Sale Ends Aug. 14

Full-year gross profit margins are expected to be between&nbsp;54.0%&nbsp;and&nbsp;55.0%&nbsp;versus initial&nbsp;guidance&nbsp;of&nbsp;52.0%&nbsp;to&nbsp;54.0%&nbsp;reflecting increased revenue contribution from pharma patient affordability business.&nbsp;
&quot;Taking all of the factors above into consideration, we expect net income to be in the range of&nbsp;$2.0 million&nbsp;to&nbsp;$3.0 million, or&nbsp;$0.04&nbsp;to&nbsp;$0.06&nbsp;per diluted share, and adjusted EBITDA to be in the range of&nbsp;$9.0 million&nbsp;to&nbsp;$10.0 million&nbsp;(15.0%&nbsp;to&nbsp;17.0%&nbsp;of total revenues), or&nbsp;$0.16&nbsp;to&nbsp;$0.18&nbsp;per diluted share.&quot;

PAYS

Paysign Raises FY24 Total Revenues Forecast From $54.5M - $56.7M To $56.5M -$58.5M (Est $56.818M)

GOP state Sen. Joe Gruters came out on Wednesday to endorse Amendment 3, the <a href="https://www.benzinga.com/markets/cannabis/24/04/38034138/florida-supreme-court-approves-cannabis-legalization-proposal-for-november-election-in-blow-to-d">proposed constitutional amendment</a> that would legalize recreational cannabis for adults if passed at the ballot box in the <a href="https://www.benzinga.com/markets/cannabis/24/03/37992749/florida-supreme-court-shelves-cannabis-ballot-proposal-with-no-explanation-or-provisions-as-apri" target="_blank" rel="noreferrer noopener">November 2024 election</a>.
In doing so, <a href="https://floridaphoenix.com/2024/07/31/joe-gruters-opposes-desantis-fl-gop-in-supporting-measure-legalizing-adult-cannabis-use/">noted</a> the Florida Phoenix, he is going up against Gov. Ron DeSantis who <a href="https://www.benzinga.com/markets/cannabis/24/06/39455304/desantis-fierce-opposition-notwithstanding-floridas-cannabis-legalization-amendment-shatters-all">vehemently opposes the amendment</a> and by extension so does the Republican Party of Florida.
<h1 class="wp-block-heading">Why Is Gruters Doing It?</h1>
Gruters, who is the former Republican Party of Florida Chair, says it's based on conversations with constituents and people involved in the process. 
"To me it's a realization of where we are, where we're at as a society, what people are doing, what's happened with medical marijuana overall, and I think it's just been an evolving decision to which I said, ‘Let's come out and support it. Let's try to help this win and let's get ahead of this to make sure we do it right,&#8217;" he told the Phoenix.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/40045648/kamala-harris-gains-on-trump-in-his-home-state-of-florida-why-cannabis-legalization-and-abortion">Kamala Harris Gains On Trump In His Home State Of Florida: Why? Cannabis Legalization And Abortion Access</a>
<h1 class="wp-block-heading">Falling Out With DeSantis</h1>
After Gruters became one of the few GOP members to endorse Trump over DeSantis in the recent Republican primary, the governor proceeded to veto Gruters projects in the fiscal year budget. Things went downhill from there between the two Republicans. 
DeSantis, by the way, is scurrying to <a href="https://www.benzinga.com/markets/cannabis/24/07/39873861/desantis-backed-group-launches-to-defeat-cannabis-legalization-in-florida-gop-bigwigs-are-all-in">garner support</a> to defeat Amendment 3.
<h1 class="wp-block-heading">The Cops Are With DeSantis On This</h1>
Florida's men in blue are lining up behind the governor in his anti-weed crusade.
The Florida Police Chiefs Association (FPCA) became the second law enforcement group to announce its opposition to cannabis legalization, intoning DeSantis' chants that legal weed is a threat to public safety. 
"Among these impacts will be the growth of illegal markets and criminal cartels, impaired driving and traffic fatalities, homelessness, and hospitalization as a result of marijuana use," <a href="https://www.sun-sentinel.com/2024/07/30/a-lower-quality-of-life-for-all-law-enforcement-lines-up-against-legal-pot-in-florida/">said</a> FPCA president Charles Vazquez. &nbsp;
The FPCA's announcement came on the heels of the Florida Sheriffs Association releasing a resolution also detailing its opposition to Amendment 3.
&#8220;The well-being and health of the citizens of Florida are threatened through the legalization and normalization of recreational marijuana,&#8221; FSA president Bill Prummell <a href="https://tallahasseereports.com/2024/07/31/sheriffs-police-chiefs-oppose-pot-initiative/">said in a statement</a> per Tallahassee Reports. He pointed to impaired public health issues, road safety and youth marijuana use.
<h1 class="wp-block-heading">Slow Down, Say Proponents</h1>
<a href="https://www.benzinga.com/markets/cannabis/24/04/38313915/cannabis-in-florida-the-bellamy-brothers-tell-trulieve-ceo-we-rolled-a-fat-one-when-legalization" target="_blank" rel="noreferrer noopener">Smart &amp; Safe Florida</a>, the committee leading the Amendment 3 initiative, disputes those arguments.
&#8220;While marijuana can impair driving abilities, the claim that legalization leads to significantly more impaired driving fatalities is not supported by evidence,&#8221; per information on the committee's <a href="https://smartandsafeflorida.com/">website</a>. &#8220;Proper education, enforcement of impaired driving laws, and investment in public safety measures can mitigate any potential increase in marijuana-related traffic accidents.&#8221;
Now Read:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/07/39964922/ron-desantis-says-florida-supreme-court-should-not-have-allowed-cannabis-legalization-initiative">Ron DeSantis Says Florida Supreme Court Should &#8216;Not Have Allowed&#8217; Cannabis Legalization Initiative On Ballot</a></li>
</ul>
Photo: Benzinga edit with images by&nbsp;<a href="https://en.wikipedia.org/wiki/Ron_DeSantis#/media/File:Ron_DeSantis-crop.jpg" target="_blank" rel="noreferrer noopener">Wikimedia Commons&nbsp;</a>and&nbsp;<a href="https://www.pexels.com/photo/close-up-photo-of-cannabis-plant-7667883/" target="_blank" rel="noreferrer noopener">Kindel Media</a>&nbsp;on Pexels

Cannabis

Regulations

Legal

Ron DeSantis And GOP Stalwart Feud Over Cannabis Legalization, Trump; Florida's Top Cops Also Weigh In

WEAV

Weave Expects Q3 Total Revenue Of $50.7M - $51.7M (Est $50.36M); Raises FY24 Outlook From 	
$197M - $200M To $201M - $203M (Est $198.51M)

The Company intends to use the net proceeds from the offering to advance the clinical development of its product candidates &ndash; OST-HER2 and OST-tADC &ndash; and discover and develop new product candidates, as well as for working capital and other general corporate purposes.
OS Therapies&#39; common stock is expected to begin trading on the NYSE American stock exchange tomorrow, Thursday, August 1, 2024, under the symbol &quot;OSTX.&quot; The public offering is expected to close on Friday, August 2, 2024, subject to customary closing conditions.

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