Putnam ETF Trust Putnam BDC Income ETF (ARCA: PBDC)

Latest news for Putnam ETF Trust Putnam BDC Income ETF (ARCA:PBDC)

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The fund invests mainly in exchange-traded business development companies. To qualify as a BDC, a company must be organized under the laws of, and have its principal place of business in, the United States, be registered with the Securities and Exchange Commission and have elected to be regulated as a BDC under the Investment Company Act of 1940, as amended. BDCs are vehicles whose principal business is to invest in, lend capital to or provide services to privately-held U.S. companies or thinly traded U.S. public companies. Putnam Investment Management, LLC, the funds investment manager, will seek BDC investments that contribute to stability of dividend income and return potential. In selecting investments, Putnam Management expects to evaluate a BDCs credit performance and risk level, potential changes in earnings and dividend levels, the impact of changes in interest rates on the BDC, and differences among BDCs in leverage and balance sheet structures. Given that the fund will invest in BDCs, a significant portion of its assets will have exposure to the financials sector.

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Putnam BDC Income ETF

Putnam ETF Trust Putnam BDC Income ETF

Leading coins jogged while stocks sank on Thursday as the Securities and Exchange Commission scaled back cryptocurrency oversight.
<figure class="wp-block-table"> 
<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>+1.63%</td>
<td>$98,192.29</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>+0.43%</td>
<td>$2,734.93</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>-0.68%</td>
<td>$0.2536</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin rose above $98,000 for the first time in a week, clocking an intraday high of $98,767.19.&nbsp;
Ethereum, meanwhile, oscillated in the $2,700 zone, hitting a peak of $2,770.03 for the day.
The market reacted to the <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43857831/sec-scales-back-crypto-enforcement-expands-focus-to-cyber-fraud">SEC relaxing its enforcement approach</a>, replacing its cryptocurrency oversight unit with a smaller cyber fraud unit.
Cryptocurrency liquidations reached $249.79 million in the last 24 hours, with $171 in short positions getting wiped out.
Bitcoin's Open interest surged by 4.25%. Interestingly, the number of traders shorting the apex cryptocurrency was higher than those betting on its increase, according to the Long/Short ratio.
Meanwhile, the market sentiment flipped from "Neutral" to "Greed," according to the Crypto Fear &amp; Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:45 p.m. ET)</td>
</tr>
<tr>
<td>Story (IP)</td>
<td>+82.66%</td>
<td>$5.07</td>
</tr>
<tr>
<td>Berachain (BERA)</td>
<td>+28.83%</td>
<td>$8.42</td>
</tr>
<tr>
<td>Sonic (S)</td>
<td>+24.65%</td>
<td>$0.8704</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.23 trillion, rising 1.49 % in the last 24 hours.
Stocks reversed from record highs on Thursday. The S&amp;P 500 slid 0.43% to close at 6,117.52. The Dow Jones Industrial Average lost 450.94 points, or 1.01%, to end at 44,176.65, while the tech-focused Nasdaq Composite dipped 0.47% to close at 19,962.36
The sell-offs <a href="https://in.benzinga.com/news/earnings/25/02/43869433/walmart-expects-slower-growth-in-an-uncertain-time-cfo-says-on-earnings-call">followed a grim fiscal 2026 forecast</a> by mega-retailer Walmart, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>). Shares of the company plunged 6.53%.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Widely followed cryptocurrency analyst and trader Rekt Capital observed a bullish divergence was playing out for Bitcoin
"And a daily close above ~$97,700 followed by a successful retest would see the bull div enable price trend continuation to the upside," the chartist added.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> The Bullish Divergence is playing out And a Daily Close above ~$97700 followed by a successful retest would see the Bull Div enable price trend continuation to the upside<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/pgvTNpVROK">https://t.co/pgvTNpVROK</a> <a href="https://t.co/tM5RiGxksD">pic.twitter.com/tM5RiGxksD</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1892666116922589556?ref_src=twsrc%5Etfw">February 20, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Ali Martinez, another well-known market researcher, reiterated the prognosis.
He described $97,533 as a "key" resistance level for Bitcoin. "A sustained breakout above this level could signal further upside."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The most critical resistance level for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> is currently at $97,533! A sustained breakout above this level could signal further upside. <a href="https://t.co/Fh8qIUtvZJ">pic.twitter.com/Fh8qIUtvZJ</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1892515036066672879?ref_src=twsrc%5Etfw">February 20, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Photo by CMP_NZ on Shutterstock
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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$BTC

$DOGE

$ETH

Bitcoin Breaches $98K, Ethereum, Dogecoin Flat As SEC Relaxes Crypto Enforcement: Top Analysts Are Focused On This Level For A Potential BTC Upside

Cryptocurrency investors face increased scrutiny from tax authorities this filing season, with potentially costly consequences for those who misunderstand reporting requirements.
The Internal Revenue Service considers every cryptocurrency transaction taxable, even those that don&#8217;t involve conversion to dollars.
&#8220;A lot of people still believe crypto-to-crypto trades aren&#8217;t taxable because they never receive cash in hand. Unfortunately, this is not the case,&#8221; Shehan Chandrasekera, head of tax strategy at CoinTracker, recently told CNBC.
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Exchanging bitcoin for ether triggers a taxable event under IRS rules, which treat cryptocurrencies as property subject to capital gains tax. If the traded cryptocurrency appreciated since purchase, the transaction generates reportable gains.
Beyond misunderstanding crypto-to-crypto transactions, investors make two other critical errors, according to Chandrasekera. Many assume tax liability exists only when they receive forms from trading platforms, while others fail to maintain comprehensive transaction records.
&#8220;I see these all the time,&#8221; he told CNBC.
Though cryptocurrency exchanges increasingly issue tax documentation, the forms often miss transactions across multiple platforms or self-hosted wallets, leaving investors responsible for tracking their own activity.
Trending: Unlock the hidden potential of commercial real estate —<a href="https://equitymultiple.com/benzinga?invite=benzinga&amp;utm_campaign=product-promotion-earn&amp;utm_source=yahooFinance&amp;utm_medium=affiliate&amp;utm_content=unlockboost-yahoo"> This platform allows individuals to invest in commercial real estate offering a 12% target yield with a bonus 1% return boost today!</a>
&#8220;It may seem tedious, but failing to record every trade, swap or airdrop can lead to errors in calculating gains and losses — and eventually, trouble with the IRS,&#8221; Bone Fide Wealth President Douglas Boneparth said to CNBC.
Investors must report cryptocurrency holdings even without transactions, checking &#8220;Yes&#8221; on tax returns if they acquired digital assets during the year.
Non-compliance carries significant risks. Failing to report cryptocurrency transactions can trigger audits, penalties, interest charges on unpaid taxes, <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42486061/always-pay-the-tax-man-bitcoin-investor-sentenced-to-two-years-for-tax-evasion-on-crypto-gains">and even criminal prosecution in severe cases</a>.&nbsp;
The IRS penalties structure typically includes a percentage of unpaid taxes plus interest, with rates increasing for willful non-compliance.
See Also: Wondering if your investments can get you to a $5,000,000 nest egg? Speak to a financial advisor today.<a href="https://smartasset.com/retirement/find-a-financial-planner?utm_source=benzinga&amp;utm_campaign=ben&amp;utm_content=y2_5MilNestEgg"> SmartAsset&#8217;s free tool matches you up with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost</a> to decide which one is right for you.
Tax enforcement capabilities have expanded significantly. &#8220;The IRS has become much more sophisticated in tracking crypto transactions,&#8221; Boneparth said. That includes requiring more exchanges to report user activity and employing blockchain analytics to identify unreported transactions.
Specialized <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42774313/did-the-irs-really-just-delay-crypto-tax-reporting-requirements">software solutions can help maintain accurate records</a>. &#8220;Going forward, meticulous record keeping isn&#8217;t just good practice — it&#8217;s essential for staying compliant and avoiding potential penalties,&#8221; Boneparth added.
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Did You Trade Crypto This Year? 3 Common Tax Mistakes That Could Cost You Big Time—And How To Avoid Them

On Thursday, Elon Musk&#8217;s X, formerly Twitter, was fined 8.1 million reais ($1.42 million) by Brazil&#8217;s Supreme Court for not complying with judicial orders.
What Happened: The fine was imposed by Supreme Court Justice Alexandre de Moraes after X failed to remove a profile accused of spreading misinformation and did not provide the user&#8217;s registration data, reported Reuters.
This non-compliance led to a daily fine of 100,000 reais and potential criminal liability for X&#8217;s local legal representative.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: In late August 2024, Brazil banned X following a dispute between Musk and de Moraes over what the billionaire <a href="https://www.benzinga.com/news/24/09/41062162/elon-musks-x-reportedly-aims-for-brazil-reentry-backs-down-from-censorship-dispute">described as "censorship."</a> 
This legal dispute also affected Starlink, another company owned by Musk, prompting him to call Justice de Moraes a "dictator."
However, he later adjusted his approach. X complied by restricting accounts identified by the court appointed a local representative, and <a href="https://www.benzinga.com/news/24/10/41201314/elon-musks-x-paid-5m-to-wrong-bank-in-brazil-delaying-reinstatement-of-its-services-in-the-country">settled overdue fines</a>.
In October 2024, the social media platform was <a href="https://www.benzinga.com/news/24/10/41242624/elon-musk-vows-to-defend-freedom-of-speech-but-within-the-boundaries-of-the-law-as-x-gets-brazil-gre">granted permission</a> to resume operations after meeting the necessary conditions.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/09/40748476/fcc-chief-defends-elon-musks-x-and-starlink-amid-brazils-punitive-actions-warns-business-leaders-are">FCC Chief Defends Elon Musk&#8217;s X And Starlink Amid Brazil&#8217;s &#8216;Punitive&#8217; Actions, Warns Business Leaders Are Questioning About It Becoming An &#8216;Uninvestable Market&#8217;</a>
Image via Shutterstock
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Tech

Media

Elon Musk's X Hit With $1.42 Million Fine From Brazil Judge He Once Labeled 'Dictator'

Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BABAF#OTC">BABAF</a>) has achieved a significant 5% reduction in share count over the past nine months through <a href="https://www.benzinga.com/news/earnings/25/02/43846533/alibaba-q3-earnings-revenue-and-eps-beat-eyes-global-e-commerce-profitability-in-fy25-increase-investments-in-ai">aggressive buyback initiatives</a>, demonstrating strong capital return commitment amid robust financial performance.
What Happened: The Chinese tech giant repurchased $1.3 billion worth of shares in the December quarter alone, following approximately $10 billion in buybacks during the first half of fiscal 2024. The company maintains substantial dry powder with $20.7 billion remaining in its buyback authorization.
&#8220;Combined with approximately $10 billion were purchased in the first half of this fiscal year, we had achieved a 5% net reduction in share count over the last nine months,&#8221; Chief Financial Officer Toby Xu stated during the company&#8217;s third-quarter earnings call.
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Why It Matters: The buyback strategy comes amid strong financial fundamentals, with Alibaba reporting $83.6 billion in cash reserves as of Dec. 31. The company&#8217;s <a href="https://www.benzinga.com/news/earnings/25/02/43846533/alibaba-q3-earnings-revenue-and-eps-beat-eyes-global-e-commerce-profitability-in-fy25-increase-investments-in-ai">third-quarter revenue</a> grew 8% year-over-year to $38.38 billion, exceeding analyst estimates, while adjusted earnings per ADS of $2.93 beat consensus expectations of $2.66.
Alibaba&#8217;s board-level capital management committee continues to oversee shareholder return initiatives through a combination of dividends, share buybacks, and strategic investments. The stock has gained 85% over the past 12 months, supported by China&#8217;s economic stimulus measures and growing traction in Alibaba&#8217;s AI offerings. 
Price Action: Alibaba&#8217;s ADR closed at $135.97 on Thursday, gaining 8.09% for the day. In after-hours trading, the stock rose an additional 0.82%. Year to date, Alibaba shares have surged 60.06%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>. 
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Alibaba CFO Toby Xu Touts 5% Drop In Share Count Thanks To Aggressive Buybacks As Jack Ma-Founded Company Basks In Stellar Q3 Results

Thursday&#8217;s trading session saw the U.S. stock market trend lower, with the Dow Jones index falling by 1% to 44,176.65. The NASDAQ and the S&amp;P 500 indices also fell, dropping by almost 0.5% and 0.4% respectively to end the day at 19,962.36 and 6,117.52.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Alibaba Group Holding Limited&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>)
Alibaba&#8217;s stock traded higher after reporting an 8% year-on-year growth in fiscal third-quarter revenue to $38.38 billion, beating the analyst consensus estimate. The stock closed up 8.09% at $135.97, with an intraday high of $144.51 and a low of $131.41. The 52-week high and low are $144.51 and $68.36 respectively. The company&#8217;s <a href="https://www.benzinga.com/news/earnings/25/02/43846533/alibaba-q3-earnings-revenue-and-eps-beat-eyes-global-e-commerce-profitability-in-fy25-increase-investments-in-ai">fiscal third-quarter report</a> also revealed an adjusted net income rise of 7% year-over-year to $7 billion.
Rivian Automotive Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>)
Rivian&#8217;s stock dipped 2.30% to close at $13.61, after hitting an intraday high of $14.05 and a low of $13.28. The 52-week high and low are $18.86 and $8.26 respectively. The electric vehicle manufacturer reported its <a href="https://in.benzinga.com/25/02/43867210/rivian-automotive-q4-earnings-highlights-revenue-beat-eps-beat-2025-guidance-truly-transformational-product-r2-coming">fourth-quarter financial results</a> after the market closed on Thursday with revenue coming in at $1.73 billion, which beat a Street consensus of $1.4 billion. Rivian projects an adjusted EBITDA loss between $1.9 billion and $1.7 billion for fiscal 2025 and anticipates a &#8220;modest gross profit&#8221; for the year.
Nu Holdings Ltd&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NU#NYSE">NU</a>)
Nu Holdings&#8217; stock fell 1.04% to close at $13.34, with an intraday high of $13.67 and a low of $13.30. The 52-week high and low are $16.15 and $9.67 respectively. The company&#8217;s <a href="https://www.benzinga.com/25/02/43869101/nu-holdings-q4-earnings-revenue-miss-eps-in-line-22-customer-growth-and-more">fourth-quarter financial results</a> revealed a 22% year-over-year increase in total global customers. The revenue of $2.99 billion in the quarter missed analyst estimates of $3.29 billion.
Walmart Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>)
Walmart&#8217;s shares plunged 6.53% to close at $97.21, after hitting an intraday high of $100.12 and a low of $96.68. The 52-week high and low are $105.30 and $57.60 respectively. Despite reporting a 4.1% year-on-year growth in <a href="https://www.benzinga.com/news/earnings/25/02/43846469/walmart-q4-earnings-shine-but-soft-fy26-outlook-disappoints-street">fourth-quarter FY25 sales</a>, the company&#8217;s soft FY26 outlook disappointed the street.
Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s stock fell 1.71% to close at $354.40, with an intraday high of $362.30 and a low of $348. The 52-week high and low are $488.54 and $138.80 respectively. The company&#8217;s executive Lars Moravy attributed the delay in getting the safety rating on the Cybertruck to the schedule set by the U.S. auto safety regulator National Highway Traffic Safety Administration, as per a <a href="https://www.benzinga.com/tech/25/02/43844358/tesla-exec-pins-delay-in-cybertruck-crash-test-report-on-nhtsa-says-weve-known-it-was-5-star-from-the-beginning">post on X</a>.
Image via Shutterstock
Prepare for the day&#8217;s trading <a href="https://editorial.benzinga.com/wp-admin/%E2%80%9CPremarket">with top premarket movers and news</a> 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>

RIVN

TSLA

Alibaba, Rivian, Nu Holdings, Walmart, And Tesla: Why These 5 Stocks Are On Investors' Radars Today

Since taking office, <a href="https://www.benzinga.com/personal-finance/25/02/43759664/trump-investigates-u-s-debt-for-fraud-suggests-treasury-payments-might-not-count">President Donald Trump</a> has made several changes that could impact Social Security. While his administration has vowed not to touch Social Security benefits, some of their actions could indirectly impact Social Security.&nbsp;
Here's what we know.&nbsp;
<h2 class="wp-block-heading">Inflation Affects COLAs</h2>
Anything Trump does that impacts inflation will have a consequence for cost-of-living adjustments, the annual cost-of-living-adjustment that Social Security beneficiaries receive based on inflation from the previous year.&nbsp;
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And while Trump campaigned on lowering inflation and grocery prices, inflation has only risen since his election. The annual inflation rate has risen to from 2.7% to 3% since Trump's election in November, <a href="https://www.bls.gov/charts/consumer-price-index/consumer-price-index-by-category-line-chart.htm">according to the Bureau of Labor Statistics</a>. In January alone, the energy index rose 1.1% and the gasoline index rose 1.8%, with food and shelter each rising 0.4%.&nbsp;
The reason this matters for <a href="https://www.benzinga.com/personal-finance/25/01/43314745/2025-cola-shortfall-why-social-security-retirees-are-losing-spending-power">Social Security beneficiaries and their COLAs</a>, at least over this next year, is that the COLA for 2025 has already been made. But it was adjusted based on lower inflation rates from the third quarter of 2024, which inflation has since surpassed.&nbsp;
With Trump's looming reciprocal tariffs and newly announced 25% tariffs on steel and aluminum imports to the U.S., many economists believe inflation will contribute to rise, which could further erode the buying power of this year's COLA. However, if inflation continues to rise into the third quarter, that should result in another increase for 2026.&nbsp;
Trending: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."<a href="https://www.benzinga.com/money/warren-buffet-make-money-when-you-sleep"> Here&#8217;s how you can earn passive income with just $100.</a>
<h2 class="wp-block-heading">Immigration Impacts on Social Security Trust Fund</h2>
Immigration plays a role in <a href="https://www.benzinga.com/personal-finance/25/01/43197447/social-securitys-lifeline-how-unauthorized-immigrants-help-fund-benefits-for-68-million-americans">funding Social Security</a>. Many undocumented workers pay into the system using Individual Taxpayer Identification Numbers but never collect benefits. Trump&#8217;s stricter immigration policies, including deportations and visa restrictions, could reduce the number of workers contributing to the Social Security Trust Fund. Fewer contributions could accelerate the program's insolvency timeline.
<h2 class="wp-block-heading">Social Security Taxes</h2>
Trump has suggested eliminating the federal income tax on Social Security benefits, which would provide immediate relief for retirees. However, doing so could also strain the system's finances. The nonpartisan <a href="https://www.crfb.org/blogs/what-would-trump-campaign-plans-mean-social-security">Committee for a Responsible Federal Budget</a> estimates that exempting Social Security income from taxation could reduce revenue by $2.3 trillion through fiscal year 2035 and potentially accelerate the program's depletion from 2034 to 2031.
Trending: 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">DOGE's Involvement with Social Security</h2>
One of the most unexpected developments has been the <a href="https://www.benzinga.com/personal-finance/25/02/43592816/social-security-beneficiaries-have-every-reason-to-be-alarmed-by-musks-access-to-u-s-department-of-treasury-payment-system">Department of Government Efficiency</a>, which has taken an interest in Social Security fraud investigations. Elon Musk, workingth DOGE, has claimed that the SSA is plagued by fraud, though there is little evidence to support widespread misuse. Musk has pushed for access to SSA data to uncover potential fraudulent payments, raising privacy concerns.
The controversy deepened when Musk alleged that millions of deceased individuals were still receiving benefits. However, <a href="https://oig.ssa.gov/assets/uploads/072401.pdf">the SSA's inspector general</a> indicates that while errors do occur–generally overpayments–fraudulent payments represent less than 1% of total benefits. Critics argue that giving DOGE control over Social Security records could compromise personal information and lead to potential misuse of data.
See Also: The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?
<h2 class="wp-block-heading">Acting Head of SSA Resigns</h2>
Following alleged tensions over DOGE's involvement, the acting head of the SSA, Michelle King, resigned. Trump appointed Leland Dudek, who previously led the agency&#8217;s anti-fraud unit, as the new acting head. His appointment has raised concerns about increased political influence over the SSA, as he has expressed support for Musk's fraud investigation efforts.
Meanwhile, Trump has nominated Frank Bisignano, CEO of Fiserv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>), to permanently lead the SSA. If confirmed by the Senate, Bisignano will oversee the agency at a time of heightened scrutiny and uncertainty.
<h2 class="wp-block-heading">Looking Ahead</h2>
With ongoing debates about COLAs, <a href="https://www.benzinga.com/personal-finance/25/02/43580701/85-of-americans-willing-to-raise-taxes-to-save-social-security-survey-shows">Social Security taxes</a>, immigration, and fraud investigations, the future of the program remains uncertain. While Trump has not directly cut benefits, his administration&#8217;s policies and priorities could shape Social Security's trajectory for years to come.
As these developments unfold, retirees and future beneficiaries should stay informed about policy changes that could impact their financial security.
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<li><a href="https://www.benzinga.com/money/suze-orman-retirement-bucket">&#8216;Which Bucket Do I Draw From First?&#8217; Suze Orman Explains To 67-Year-Old The Best Order For Tapping Into Her Retirement Accounts</a></li>
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Personal Finance

From COLAs To Taxes: Trump's Social Security Changes So Far

SVREW

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

NUSI

SVRE

CNSP

WINT

On Thursday, a federal judge turned down an appeal by several government employee unions seeking to halt the Trump administration&#8217;s plans to significantly downsize the federal workforce. as reported by <a href="https://thehill.com/regulation/court-battles/5156080-judge-trump-mass-layoffs/?email=467cb6399cb7df64551775e431052b43a775c749&amp;emaila=12a6d4d069cd56cfddaa391c24eb7042&amp;emailb=054528e7403871c79f668e49dd3">The Hill</a>.
What Happened: U.S. District Judge Christopher Cooper ruled that the unions should bring their challenge to the Federal Labor Relations Authority, the body that oversees labor relations within the bureaucracy, instead of a federal district court, <a href="https://thehill.com/regulation/court-battles/5156080-judge-trump-mass-layoffs/?email=467cb6399cb7df64551775e431052b43a775c749&amp;emaila=12a6d4d069cd56cfddaa391c24eb7042&amp;emailb=054528e7403871c79f668e49dd3">reported</a> The Hill. 
This marks another victory for Trump&#8217;s Justice Department, which is currently defending against numerous lawsuits challenging various executive actions of the president, including efforts to cut spending and restructure government agencies.
The lawsuit, brought forward by the National Treasury Employees Union (NTEU), the National Federation of Federal Employees, the International Association of Machinists and Aerospace Workers, the International Federation of Professional &amp;amp; Technical Engineers and United Auto Workers, contested firings of probationary employees, the administration&#8217;s ambitions for additional mass firings, known as a reduction in force, and its offer for the majority of federal employees to accept a buyout.
Cooper refrained from expressing an opinion on the matters at hand but determined that the unions had pursued their case in an improper venue. He noted that while a district court review might offer a faster resolution, the NTEU had not explained why it couldn&#8217;t seek recourse through the FLRA on behalf of a group of plaintiffs. Additionally, he pointed out that the union acknowledged it would request other agencies to adhere to a favorable administrative judge&#8217;s decision.
See Also: <a href="https://www.benzinga.com/news/25/01/43314808/trump-memo-heard-around-the-world-how-us-economy-could-adjust-to-buyouts-for-federal-workers">Trump Memo Heard Around The World: How US Economy Could Adjust To Buyouts For Federal Workers</a>
Why It Matters: This favorable ruling follows a <a href="https://in.benzinga.com/markets/25/02/43579182/judge-blocks-trumps-bold-usaid-layoff-plan-saving-2200-workers-major-setback-for-america-first-agenda">series of legal setbacks</a> for the Trump administration&#8217;s workforce reduction plans. Earlier this month, a judge temporarily blocked Trump&#8217;s plan to place 2,200 U.S. Agency for International Development employees on paid leave. 
Additionally, the administration&#8217;s <a href="https://www.benzinga.com/news/legal/25/02/43542558/trumps-push-to-reshape-federal-workforce-with-buyouts-stalls-in-court">buyout plan</a> for federal employees was halted by a federal judge just hours before the acceptance deadline.
Image via Shutterstock
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<li>Lawmakers Made Huge Investments This Year. <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></li>
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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>

Politics

General

Trump's Federal Workforce Downsizing Plan Gets Green Light From Judge, Appeal By Unions Dismissed

Corteva (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTVA#NYSE">CTVA</a>) has outperformed the market over the past 5 years by 3.28% on an annualized basis producing an average annual return of 17.6%. Currently, Corteva has a market capitalization of $43.76 billion. 
Buying $1000 In CTVA: If an investor had bought $1000 of CTVA stock 5 years ago, it would be worth $2,081.87 today based on a price of $63.60 for CTVA at the time of writing.
<h3>Corteva's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1740095108_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.

CTVA

Here's How Much You Would Have Made Owning Corteva Stock In The Last 5 Years

Many people believe that timing is everything when it comes to investing–worrying about the perfect moment to buy and stressing over whether the market is going to go up or down. But according to renowned stock analyst <a href="https://www.benzinga.com/markets/24/11/42248759/palantir-the-next-oracle-expert-predicts-a-monster-run-to-100">Keith Fitz-Gerald</a>, the idea that investing success depends on the specific day you buy is a myth.&nbsp;
Fitz-Gerald recently made a guest appearance on <a href="https://www.benzinga.com/personal-finance/25/02/43769106/2-million-is-pennies-suze-orman-says-if-you-think-youll-be-able-to-survive-on-80000-a-year-in-retirement-ive-got-a-bridge-to-sell-you">Suze Orman</a>'s "Women &amp; Money" podcast to answer listeners' questions about investing, and the timing of investments is one they kept coming back to.&nbsp;
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<h2 class="wp-block-heading">Consistency Is Key To Investing</h2>
During the podcast, Orman read questions out from her listeners. The first question: "Doesn&#8217;t everything depend on the day that you invest your money and where the stock is on that particular day?"&nbsp;
Fitz-Gerald said the question was interesting and has a very simple answer: no. He explained that the actual day or time of day that you buy stocks doesn't matter. He even added that the method–like <a href="https://www.benzinga.com/personal-finance/25/02/43759719/suze-school-lump-sum-investing-dollar-cost-averaging-and-value-cost-average-which-is-her-favorite">value cost averaging</a> or dollar cost averaging–doesn't matter. What matters is consistency.&nbsp;
"If you&#8217;re consistent, you are getting around market timing risk," Fitz-Gerald said. "You are harnessing volatility that others fear, so it doesn&#8217;t matter whether you pick your birthday, whether you do it on Christmas, whether you pick another holiday, whether you do it even every Monday morning as long as you do it consistently."
Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a>
<h2 class="wp-block-heading">The Market Has Changed—And So Should Investors' Thinking</h2>
Fitz-Gerald also reflected on how market dynamics have evolved. Decades ago, traders could take advantage of specific times of day—like mid-morning or late afternoon—when trading activity dipped.&nbsp;
"In the morning, the donut truck would show up and everybody ran off the floor to go get donuts," Fitz-Gerald commented. "In the afternoon, the hot dog truck would show up and everybody ran off the floor to get hot dogs."
But with the rise of computer algorithms and automated trading, those slight advantages have disappeared. Today's stock exchanges are largely run by machines, making it virtually impossible for individual investors to outmaneuver market fluctuations.
Trending: Many don&#8217;t know there are tax benefits when buying a unit as an investment —<a href="https://www.benzinga.com/money/casa-shares"> Here&#8217;s how to invest in real estate by mirroring BlackRock's big move</a>
While some investors still attempt to time their trades within certain windows, Fitz-Gerald said that this approach can lead to unnecessary stress. The market's first and last 30 minutes of the trading day tend to be the most volatile, but he advised against using this as a guideline for making investments. Instead, he emphasized the importance of taking a long-term perspective.
<h2 class="wp-block-heading">How Often Should You Invest?</h2>
Another common concern among investors is how frequently they should contribute to their portfolio. Fitz-Gerald reassured listeners that investing monthly is a perfectly sound strategy for most people. While some may wonder if investing weekly or biweekly is more effective, he explained that doing so can lead to a mindset of market timing, which carries risks.
By sticking to a monthly schedule, investors can avoid unnecessary stress while still harnessing <a href="https://www.benzinga.com/content/43526156/market-volatility-creates-opportunity-in-these-3-value-stocks">market volatility</a> to their advantage. Fitz-Gerald also reminded listeners that their investment strategy should be flexible. Financial situations change, and investors shouldn't feel locked into a rigid plan. If income fluctuates or unexpected expenses arise, adjustments can be made without derailing long-term goals.
See Also: Many are using retirement income calculators to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a>
<h2 class="wp-block-heading">Investing for the Future</h2>
The conversation between Orman and Fitz-Gerald reinforced a valuable lesson: investing isn't about pinpointing the perfect moment—it's about maintaining discipline and consistency. The market will always experience ups and downs, but those who stay the course are more likely to achieve long-term success.
Rather than focusing on minor details, investors should take a step back, keep a long-term perspective, and trust in the process. As Fitz-Gerald put it, "Investing is a game of being close enough."
By adopting this mindset, investors can build their wealth steadily, avoid unnecessary stress, and focus on what truly matters—<a href="https://www.benzinga.com/personal-finance/24/09/40764819/think-youre-financially-secure-heres-how-much-people-say-it-takes-to-feel-secure-and-what-you-re">financial security</a> and peace of mind.
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<li>Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.</li>
</ul>

'Is Investing Dependent On Where The Stock Is On That Particular Day?' Suze Orman's Guest Speaker, Keith Fitz-Gerald, Says 'No'

Vertiv Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>) has outperformed the market over the past 5 years by 38.69% on an annualized basis producing an average annual return of 53.01%. Currently, Vertiv Holdings has a market capitalization of $39.91 billion. 
Buying $1000 In VRT: If an investor had bought $1000 of VRT stock 5 years ago, it would be worth $8,260.84 today based on a price of $104.80 for VRT at the time of writing.
<h3>Vertiv Holdings's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1740094210_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 Vertiv Holdings Stock In The Last 5 Years

Moodys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCO#NYSE">MCO</a>) has outperformed the market over the past 15 years by 9.73% on an annualized basis producing an average annual return of 21.78%. Currently, Moodys has a market capitalization of $92.25 billion. 
Buying $100 In MCO: If an investor had bought $100 of MCO stock 15 years ago, it would be worth $1,904.77 today based on a price of $511.62 for MCO at the time of writing.
<h3>Moodys's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1740093309_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.

$100 Invested In Moodys 15 Years Ago Would Be Worth This Much Today

Guidance

Alliant Energy Affirms 2025 Adj EPS Guidance Of $3.15 - $3.25, Est $3.21

The facility, which features modern construction and crane-served capabilities, was acquired through a long-term sale-leaseback transaction with a 10-year absolute NNN lease.

GOOD

Gladstone Commercial Acquires 215,474 Square Foot, Class A Industrial Manufacturing Facility In Houston, Texas

TMUS

CORRECTION: T-Mobile US Symbol Is 'TMUS'

Alliant Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LNT#NASDAQ">LNT</a>) reported quarterly earnings of $0.70 per share which beat the analyst consensus estimate of $0.68 by 2.94 percent. This is a 45.83 percent increase over earnings of $0.48 per share from the same period last year. The company reported quarterly sales of $976.00 million which beat the analyst consensus estimate of $870.07 million by 12.17 percent.

Earnings

Earnings Beats

Alliant Energy Q4 2024 Adj EPS $0.70 Beats $0.68 Estimate, Sales $976.00M Beat $870.07M Estimate

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