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Adaptive Investments - CIO Of Innovative Fund Reveals His Expectations For 2023 At Benzinga’s ETF Unlocked

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Benzinga recently hosted its virtual event, ETF Unlocked, bringing together important thought leaders in the space to share their expertise and discuss current and future trends.

Adaptive Investments - CIO Of Innovative Fund Reveals His Expectations For 2023 At Benzinga&#39;s ETF Unlocked

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has seen a staggering $510 billion decline in market capitalization over the past three weeks, paving the way for Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) to reclaim its position as the world&#8217;s largest company, according to analysis from The Kobeissi Letter.
What Happened: The market shift stems from Apple&#8217;s significant challenges in the Chinese smartphone market, where annual iPhone shipments dropped 17% in 2024—the largest annual sales decline since 2016. Apple has now fallen behind local competitors Vivo and Huawei in China&#8217;s competitive smartphone landscape.
Investor Warren Buffett, long a proponent of Apple, recently reduced Berkshire Hathaway&#8216;s Apple stake by 25%, maintaining 300 million shares. Despite this reduction, Apple remains a <a href="https://www.benzinga.com/news/25/01/43132892/warren-buffett-once-claimed-iphones-are-so-great-that-no-one-would-take-10000-to-stop-buying-them">critical 26% of Berkshire&#8217;s portfolio</a>.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Apple stock, <a href="https://twitter.com/search?q=%24AAPL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAPL</a>, has erased $510 billion in market cap over the last 3 weeks. Since December 26th, the stock has declined ~14% and the company's worth has fallen to $3.35 trillion. As a result, Nvidia, <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a>, has again surpassed Apple as the world's largest company. This… <a href="https://t.co/pGmLxLxCsG">pic.twitter.com/pGmLxLxCsG</a>
&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1882148905166516690?ref_src=twsrc%5Etfw">January 22, 2025</a></blockquote>
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JPMorgan analyst Samik Chatterjee attributes Apple&#8217;s struggles to multiple factors, including currency headwinds, limited AI feature adoption, and challenging market conditions in China. The analyst expects Apple&#8217;s first-quarter earnings to fall slightly <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43097512/apples-ai-advances-cant-offset-chinese-market-slowdown-says-analyst">below consensus estimates</a>, with potential guidance disappointments.
See Also: <a href="https://www.benzinga.com/government/regulations/25/01/43144858/sp-500-hits-fresh-records-at-6100-as-strong-earnings-trumps-ai-wager-fuel-bull-run">S&amp;P 500 Hits Fresh Records At 6,100: Strong Earnings, Trump&#8217;s AI Wager Fuel Bull Run</a>
Why It Matters: Needham analyst Laura Martin remains cautiously optimistic, maintaining a $260 price target and highlighting Apple&#8217;s potential in services, wearables, and emerging technologies like Vision Pro. However, Martin acknowledges the company&#8217;s heavy <a href="https://www.benzinga.com/analyst-ratings/price-target/25/01/43110913/apples-iphone-dependence-remains-but-services-wearables-offer-growth-potential-analyst">dependence on iPhone sales</a>.
The evolving tech landscape presents significant challenges for Apple, with local Chinese brands and AI-powered competitors increasingly threatening its market dominance. As Nvidia capitalizes on AI technological advancements, Apple faces critical questions about innovation and global market strategy, according to The Kobeissi.
Price Action: Apple&#8217;s stock closed at $223.83 on Wednesday, gaining 0.53% during the regular session. In after-hours trading, the stock dipped 0.29%. Over the past 52 weeks, Apple has traded between a low of $164.08 and a high of $260.09, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
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<li><a href="https://www.benzinga.com/general/education/25/01/43145703/netflix-worth-more-than-disney-paramount-comcast-fox-combined">Netflix Worth More Than Disney, Paramount, Comcast, Fox Combined</a></li>
</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

News

Markets

AAPL

NVDA

Apple's $510 Billion Market Cap Drop Opens Door For Nvidia To Reclaim World's Largest Company Title Amid iPhone Maker's China Struggles

JP Morgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO, Jamie Dimon, expressed his approval of President Donald Trump&#8217;s proposed tariffs on several countries, including Canada, Mexico, and China on Wednesday.
What Happened: During a discussion at the World Economic Forum, Dimon argued that the national security benefits of these tariffs would surpass any potential inflationary impact. He was quoted saying, &#8220;If it&#8217;s a little inflationary, but it&#8217;s good for national security, so be it. I mean, get over it,&#8221; <a href="https://www.cnbc.com/2025/01/22/jamie-dimon-on-trumps-tariffs-get-over-it.html">reported</a> CNBC.
Dimon also referred to tariffs as an &#8220;economic tool,&#8221; and dismissed the idea that they are inherently inflationary. His comments come amidst claims from some economists that tariffs would increase prices for American consumers and harm the country&#8217;s economy.
"Tariffs can change the dollar, but the most important thing is growth," Dimon said in the interview.
Dimon wasn't the only Wall Street leader expressing optimism about tariffs. Goldman Sachs CEO David Solomon, speaking at Davos, said that business leaders have been adapting to potential policy changes, including trade.
 He described the shifts as a &#8220;rebalancing&#8221; of trade agreements that, if managed carefully, could benefit U.S. growth. Solomon emphasized the importance of a thoughtful approach, noting that some measures are likely part of broader negotiation strategies. &#8220;Used appropriately, it can be constructive,&#8221; he said, adding that the situation will evolve over time and requires close monitoring.
Why It Matters: Trump had previously announced his consideration of a <a href="https://www.benzinga.com/etfs/emerging-market-etfs/25/01/43130930/trump-looking-at-10-tariff-on-china-starting-feb-1">10% tariff on goods</a> from China, which could take effect as early as Feb.1.
This was followed by his pledge to <a href="https://www.benzinga.com/25/01/43103527/mexican-peso-canadian-dollar-slide-as-trump-threatens-25-tariffs-expert-eyes-price-hikes-on-typical-us-breakfast">impose 25% tariffs on imports</a> from Canada and Mexico starting Feb. 1, causing the Mexican peso and Canadian dollar to weaken.
These proposed tariffs have sparked debates among economists, trade experts, and consumers, as they could <a href="https://www.benzinga.com/personal-finance/24/12/42367505/economists-warn-trumps-tariffs-on-canada-mexico-and-china-could-hurt-your-budget-more-than-help-it">lead to higher costs</a> for American households. Economic analyst Catherine Rampell warned that the tariffs could raise prices on a wide range of consumer goods.
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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

Jamie Dimo Supports Trump's Tariffs: 'If It's A Little Inflationary, But It's Good For National Security, So Be It'

Wallets belonging to Ross Ulbricht, the imprisoned creator of the illegal drug marketplace&nbsp;Silk Road, were discovered on Wednesday, containing as many as 430 Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) unmoved for over 13 years.
What Happened: In an X post, Conor Grogan, a director at&nbsp;Coinbase, said that he had found nearly 430 BTC across multiple wallets linked to Ulbricht. These wallets were not seized by the U.S. government and have remained untouched for over 13 years. 
&#8220;Back then these were probably&nbsp;dust wallets, now, collectively, they&nbsp;are worth about $47 million,&#8221; Grogan disclosed in the post. At the current prices, the value of these assets amounted to $44.48 million.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I found ~430 BTC across dozens of wallets associated with Ross Ulbricht that were not confiscated by the USGovt and have been untouched for 13+ years Back then these were probably dust wallets, now, collectively, they are worth about $47M. Welcome back Ross <a href="https://t.co/KmCp4xcrI7">pic.twitter.com/KmCp4xcrI7</a>
&mdash; Conor (@jconorgrogan) <a href="https://twitter.com/jconorgrogan/status/1882046613709115875?ref_src=twsrc%5Etfw">January 22, 2025</a></blockquote>
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It&#8217;s uncertain whether Ulbricht still has access to the keys to these wallets. Grogan said, &#8220;We will know soon enough,&#8221; suggesting that it&#8217;d be clear if the dormant Bitcoins start to move.
A section of the cryptocurrency community didn&#8217;t approve Conor making the wallet details public. In his defense, he said they were already public and cited in Ulbricht&#8217;s trial documents.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43119637/michael-saylors-proposal-to-increase-microstratagys-share-count-approved-by-shareholders-more-bitcoin-purchases-on-the-cards">Michael Saylor&#8217;s Proposal To Increase MicroStratagy&#8217;s Share Count Approved By Shareholders — More Bitcoin Purchases On The Cards?</a>
Why It Matters: This discovery comes shortly after President Donald Trump pardoned Ulbricht, fulfilling a campaign promise. Trump granted Ulbricht a &#8220;full and unconditional&#8221; pardon in support of the of the Libertarian Movement
Ulbricht was serving a double life sentence since 2013 for creating the darknet website, a hub of the illegal trafficking of heroin, cocaine, LSD, and other substances, all paid for in Bitcoin.
It remained to be seen whether Ulbricht would be able to access these funds following his pardon.
Price Action: At the time of writing, Bitcoin was exchanging hands at $103,150.67, down 2.17% 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>.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43118234/president-trump-signs-executive-order-to-pardon-silk-road-creator-ross-ulbricht">President Trump Signs Executive Order To Pardon Silk Road Creator Ross Ulbricht</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;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.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

Bitcoin Worth $44 Million Found In Ross Ulbricht's Wallets  — Will The Freshly Pardoned Silk Road Founder Move The Coins?

Secretary of State Marco Rubio is gearing up for his first foreign tour, with Panama on his itinerary, amid rising tensions over the Panama Canal.
What Happened: Rubio&#8217;s inaugural foreign trip as Secretary of State will also include Guatemala, El Salvador, Costa Rica, and the Dominican Republic. However, these plans are still tentative, according to officials privy to the matter, <a href="https://www.politico.com/news/2025/01/22/marco-rubio-panama-00200137">reported</a> Politico.
This visit, which could reportedly take place as early as next week, follows President Donald Trump&#8217;s controversial remarks hinting at the U.S. potentially reclaiming the Panama Canal. These comments have sparked a diplomatic spat with Panama. &#8220;The Panama Canal belongs to Panama and will continue to belong to Panama,&#8221; asserted Panama&#8217;s President, José Raúl Mulino, at the World Economic Forum earlier this week.
During his tour, Rubio is expected to tackle two critical issues on the MAGA foreign policy agenda: illegal migration and the Panama Canal. The countries on Rubio&#8217;s travel list,&nbsp;including Guatemala and El Salvador,&nbsp;are key transit points for migrants heading to the U.S. southern border.
In a recent memo&nbsp;to State Department employees, Rubio&nbsp;underscored mass migration as &#8220;among&nbsp;the most consequential issues of&nbsp;our time&#8221; and committed to collaborating with Western Hemisphere nations to stem illegal immigration.
The State Department has not yet commented on Rubio&#8217;s impending travel.
Why It Matters: The controversy over the Panama Canal has been brewing for some time. In January, <a href="https://www.benzinga.com/news/global/25/01/42864556/trump-does-not-rule-out-military-force-to-acquire-panama-canal-greenland-we-need-them-for-economic-security">Trump refused to rule out the use of military force</a> to regain control of the canal, citing economic security. 
Trump&#8217;s comments sparked backlash from Panama&#8217;s President Mulino, who <a href="https://www.benzinga.com/24/12/42639737/trumps-call-to-reclaim-panama-canal-sparks-backlash-every-square-meter-belongs-to-panama-says-president-mulino">asserted Panama&#8217;s ownership of the canal</a> in December. 
Trump&#8217;s threat to seize the canal, which <a href="https://www.benzinga.com/startups/25/01/43036986/trumps-2-5-billion-power-play-what-seizing-the-panama-canal-would-cost">generates $2.5 billion in annual revenue for Panama</a> and handles 5% of global maritime trade, has raised concerns about potential disruption to international commerce.
Image 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>

Marco Rubio Reportedly Set To Visit Panama Amid Trump's Canal Rhetoric

Artificial intelligence and AI agents are changing the workforce and the job market, according to a report from the <a href="https://www.benzinga.com/search?q=World+Economic+Forum#:~:text=Adam%20Eckert,1%3A40%20PM">World Economic Forum.&nbsp;</a>
The Details: According to the WEF's The Future of Jobs Report 2025, 41% of employers surveyed expect to reduce the size of their workforces in the next five years, specifically in roles "where AI can replicate people's work." 
The survey's respondents expect the fastest-declining roles to include cashiers and ticket clerks, administrative assistants and executive secretaries, printing workers, accountants and auditors. The WEF primarily attributed the decline in demand for these clerical roles to AI and information processing technologies, robots and autonomous systems. 
Read Next: <a href="https://www.benzinga.com/trading-ideas/movers/25/01/43136971/will-soundhound-ai-stock-get-a-boost-from-project-stargate">Will SoundHound AI Stock Get A Boost From Project Stargate?&nbsp;</a>
Growth in AI and information processing technology is expected to create 11 million jobs, while eliminating nine million others, more than any other technology trend. 
The WEF pointed to robotics and autonomous systems as the largest net job displacer, with a net decline of five million jobs.
"Trends such as generative AI and rapid technological shifts are upending industries and labor markets, creating both unprecedented opportunities and profound risks," said Till Leopold, head of Work, Wages and Job Creation at WEF. 
"The time is now for businesses and governments to work together, invest in skills, and build an equitable and resilient global workforce," Leopold added.&nbsp;
AI Agents: Some companies like Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) and Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) are developing AI agents designed to automate repetitive and time-consuming tasks. These AI agents could contribute to some of the job displacement the WEF highlighted. 
Oracle offers more than 50 role-based AI agents within its Oracle Fusion Cloud Applications Suite which can <a href="https://www.benzinga.com/quote/ORCL#:~:text=Oracle%20AI%20Agents%20Help%20Sales%20Teams%20Create%20More%20Meaningful%20Customer%20Connections">perform tasks</a> in the areas of finance, sales, customer service and marketing. Salesforce's Agentforce is an AI platform that enables companies and organizations <a href="https://www.benzinga.com/25/01/42917603/salesforce-empowers-retailers-with-ai-to-boost-efficiency-and-sales">to build</a> customized autonomous AI agents for various business functions.
Experts predict AI agents will grow to become commonplace in the near term. 
"Agents are the next step in putting AI to work in the real world. Consumers should expect almost every major business they interact with to create an agent. We'll see agents supporting customers in banking, insurance, healthcare and retail. By this time next year, agents will be a reality of our collective digital lives," Paul Drews, managing partner for Salesforce Ventures<a href="https://www.fastcompany.com/91254053/25-experts-predict-how-ai-will-change-business-and-life-in-2025"> told</a> Fast Company.&nbsp;
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</ul>
Photo: Shutterstock

Global

Movers

Tech

ORCL

AI, AI Agents Will Create 'Unprecedented Opportunities And Profound Risks,' World Economic Forum Says

Social media followers of the president, first lady and vice president were surprised to learn that they now follow people they may not have wanted to after Donald Trump was inaugurated as<a href="https://www.benzinga.com/general/entertainment/25/01/43139381/how-many-people-watched-donald-trumps-2025-inauguration-spoiler-less-than-biden-four-years-ago"> president on Monday.</a>
What Happened: Users of Instagram and Facebook, which are owned by Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), have experienced several recent changes including CEO Mark Zuckerberg announcing the end of <a href="https://www.benzinga.com/25/01/42851889/meta-ditches-fact-checking-for-community-notes-zuckerberg-says-opportunity-to-restore-free-expression">content moderation teams</a>.
Instagram and Facebook users who followed Joe Biden, Kamala Harris and Jill Biden over the past several years were also surprised to find themselves now following Donald Trump, J.D. Vance and Melania Trump after Monday.
Users were quick to blame Meta Platforms and cite the potential influence of Zuckerberg, who has been cozying up to Trump in recent months. Zuckerberg attended the inauguration and Meta recently donated $1 million to the president's inauguration fund.
Some users reported they were unable to unfollow the accounts of the new political leaders, including singer Demi Lovato, as reported by <a href="https://variety.com/2025/digital/news/facebook-instagram-users-forced-trump-vance-follow-1236282155/">Variety</a>.
"I have unfollowed this guy twice today," Lovato said of the @vp account now belonging to Vance. "Shady f&#x2A;&#x2A;&#x2A;ing business meta."
Meta contends they have done nothing wrong and this is the practice done in past presidential transitions. The official accounts for @potus, @vp and @flotus have been transferred over to the new people in those roles, while keeping the same followers and the content being wiped clean and archived to other accounts.
"People were not made to automatically follow any of the official Facebook or Instagram accounts for the president, vice president or first lady," Meta spokesperson Andy Stone <a href="https://www.threads.net/@andymstone/post/DFImiJsPblY">said </a>in a post on Threads. "Those accounts are managed by the White House so with a new administration, the content on those Pages changes."
Stone said the same changes took place when Biden took over as president for Trump in 2021. One potential difference is the ability to unfollow these particular accounts.
"It may take some time for follow and unfollow requests to go through as these accounts change hands," Stone added.
Users can follow and unfollow other accounts without any problem as of time of writing of this article.
Here are the current follower accounts for several mentioned Instagram accounts:
<ul>
<li>@potus (now Trump): 16.8 million</li>
<li>@realdonaldtrump (his existing account): 31.2 million</li>
<li>@potus46archive (Joe Biden's old account): 18.7 million</li>
<li>@flotus (now Melania Trump): 4.1 million</li>
<li>@flotus46archive (Jill Biden's old account): 4.1 million</li>
<li>@joebiden (Joe Biden's existing account): 17 million</li>
<li>@vp (now Vance): 15.7 million</li>
<li>@vp46archive (Harris's old account): 16.9 million</li>
<li>@kamalaharris (Kamala Harris's existing account): 19.6 million</li>
</ul>
The accounts had the same number of followers when they were archived as they did for the new account holder. This means that the VP and POTUS accounts have lost followers since the transition took place.
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</ul>
X Does It A Little Differently: Social media accounts with the names POTUS, VP and FLOTUS belong to the people in those roles. The question is how to manage the transition.
With users upset, the question now becomes whether social media companies should have to alert users that they are now following new people or if the accounts should start over from 0.
Platform X, which is owned by Trump-ally Elon Musk, chooses to do the latter.
Followers of the @potus, @vp and @flotus accounts on X saw those accounts change names to archived accounts. Users were not forced to follow the @potus, @vp and @flotus accounts once again as they started from 0 with the new names and faces attached.
Here's a look at the current follower accounts on X:
<ul>
<li>@potus: 1.5 million</li>
<li>@potus46archive: 37 million</li>
<li>@potus45: 31.4 million</li>
<li>@potus44: 12.9 million</li>
<li>@flotus: 116.1 thousand</li>
<li>@flotus46archive: 4.4 million</li>
<li>@vp: 424.9 thousand</li>
<li>@vp46archive: 14.9 million</li>
</ul>
Many politicians have existing accounts and use the official White House accounts along with their own personal ones. This means outgoing parties like Biden and Harris have their own accounts they will now use. For reference, here are the followers on those accounts along with former President Barack Obama:
<ul>
<li>Biden: 38.2 million</li>
<li>Harris: 21.0 million</li>
<li>Trump: 99.1 million</li>
<li>Obama: 130.8 million</li>
</ul>
Obama is ranked as the second most-followed person on X, <a href="https://www.benzinga.com/general/social-media/24/10/41168674/elon-musk-passes-200-million-followers-on-x-heres-the-top-10-accounts-and-where-barack-obama">trailing only Musk</a> (213.7 million). Trump's personal account ranks eighth currently.
According to data from <a href="https://socialblade.com/twitter/user/potus">SocialBlade</a>, the @potus account ended Jan. 20 with 702,038 followers.
Trump's personal account has added 2.7 million followers over the past 30 days, averaging a gain of 89,571 daily. Biden's personal account has lost 33,118 followers over the past 30 days, averaging a daily loss of 1,104 a day.
Social media users should be aware of these policies and know who they are following as it may have changed after Monday.
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Photo: Shutterstock

Government

Social Media

Follow Biden Or Harris On Instagram, Facebook? Chances Are You're Now Following Trump Or Vance

President Donald Trump's plan to add a 25% tariff on goods from Mexico and Canada by Feb. 1 has started a big argument about whether it's legal and how it could hurt the economy.&nbsp;
Former New York prosecutor Tristan Snell said there was &#8220;one small problem&#8221; with Trump&#8217;s announcement. &#8220;The president does NOT have unilateral power to change tariff rates,&#8221; he <a href="https://x.com/TristanSnell/status/1881525990863823231">said</a> on X on Tuesday and also raised a critical question: &#8220;Will GOP representatives and senators vote to destroy their local economies?&#8221; According to him, significant changes to trade policy require Congressional approval.
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<li>The average 401(k) balance soars to a record-breaking high – <a href="https://www.benzinga.com/money/average-401k-balances-soars-to-record-high">Here's how to know if your nest egg is keeping pace.</a></li>
</ul>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">BREAKING: Trump says 25% tariffs on Canada and Mexico will begin February 1. One small problem. The president does NOT have unilateral power to change tariff rates. Trump needs Congress &#8211; and will GOP reps and senators vote to destroy their local economies?
&mdash; Tristan Snell (@TristanSnell) <a href="https://twitter.com/TristanSnell/status/1881525990863823231?ref_src=twsrc%5Etfw">January 21, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
<h2 class="wp-block-heading">Can Trump Legally Impose These Tariffs?</h2>
While the president has some executive tools, like the International Emergency Economic Powers Act (IEEPA) and sections of the Trade Acts of 1930 and 1974, these measures are subject to legal constraints per law firm Buchanan Ingersoll &amp; Rooney. For instance:
<ul>
<li>Although IEEPA permits tariffs in times of national emergency, it is unprecedented to use it to apply tariffs all at once and doing so would probably be challenged in court.</li>
<li>Section 122 of the Trade Act of 1974 permits a temporary 15% import surcharge to address balance-of-payment deficits, but it is limited in scope and duration.</li>
<li>Article 1, Section 8 of the U.S. Constitution grants Congress, not the president, the power to impose taxes and duties. While Trump could try to leverage a Republican majority, bypassing Congress altogether would be legally questionable.</li>
</ul>
Economists and trade experts question whether Trump will follow through with his tariff threats. Goldman Sachs economist <a href="https://www.benzinga.com/25/01/43103527/mexican-peso-canadian-dollar-slide-as-trump-threatens-25-tariffs-expert-eyes-price-hikes-on-typical-us-breakfast">Alec Phillips noted</a> that similar proposals in Trump's first term often fizzled out before implementation.&nbsp;
Trending: ‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. <a href="https://www.benzinga.com/money/mode-mobile-2">You can invest today for just $0.26/share with a $1000 minimum.</a>
"Despite Trump&#8217;s comments, we continue to believe the odds of a 25% tariff on Canada and Mexico are low at 20%. We are lowering our odds of a universal tariff this year to 25%," Phillips said in a note.
<h2 class="wp-block-heading">How Could Tariffs Impact Neighboring States?</h2>
Trump&#8217;s proposal may greatly impact states in the United States that rely on commerce with Canada and Mexico. Supply chain interruptions could occur in border areas like Texas, California and Michigan, which depend on imports for sectors like the automobile industry.&nbsp;
Similarly, agricultural states such as Iowa, which export heavily to Mexico, might face retaliatory tariffs that harm farmers. Everyday goods, including groceries and beverages, <a href="https://www.benzinga.com/startups/24/12/42344194/these-products-will-likely-see-price-hikes-due-to-trumps-tariffs-on-canada-and-mexico-2">could become more expensive</a>, exacerbating inflation.&nbsp;
Furthermore, businesses involved in cross-border commerce may face difficulties due to rising production costs, which could lead to job losses in the retail, industrial and agricultural sectors.
See Also: It&#8217;s no wonder Jeff Bezos holds over $70 million in art — <a href="https://www.benzinga.com/money/masterworks">this alternative asset has outpaced the S&amp;P 500 since 1995, delivering an average annual return of 11.4%. Here&#8217;s how everyday investors are getting started.</a>
<h2 class="wp-block-heading">Canada and Mexico Push Back</h2>
Canadian Prime Minister Justin Trudeau criticized the tariff threat, promising that Canada would fight back with equal tariffs if necessary. "Canada will respond and everything is on the table," Trudeau said, emphasizing Canada&#8217;s critical role in providing resources like steel, aluminum and energy. He also warned that alienating Canada could force the U.S. to source goods from adversarial nations like China or Russia.
Mexican President Claudia Sheinbaum took a calmer approach, emphasizing the importance of diplomacy while defending Mexico's independence. She pointed out that both countries would face economic harm if the tariffs were enforced.
President Donald Trump argues that the proposed tariffs on Mexico and Canada are necessary to protect American workers and industries. He believes these measures will curb illegal immigration and drug trafficking, which he ties to cross-border trade issues. Trump has also stated that tariffs will generate revenue for the U.S. while encouraging domestic production, reducing reliance on foreign goods.
As Trump's administration doubles down on its aggressive trade agenda, all eyes are on Congress. Will GOP lawmakers back these tariffs, knowing the potential damage to local economies? With legal hurdles and economic risks mounting, the debate over Trump's tariff policy is far from over.
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<li>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></li>
<li>If there was a new fund backed by Jeff Bezos offering a <a href="https://www.benzinga.com/money/arrived-private-credit-fund">7-9% target yield with monthly dividends would you invest in it</a>?</li>
</ul>

Former NY Prosecutor Questions GOP: 'Will They Vote To Destroy Their Local Economies?' Says Trump Lacks Unilateral Power To Change Tariffs

Steel Dynamics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) reported quarterly earnings of $1.36 per share which missed the analyst consensus estimate of $1.42 by 4.23 percent. This is a 47.89 percent decrease over earnings of $2.61 per share from the same period last year. The company reported quarterly sales of $3.87 billion which missed the analyst consensus estimate of $3.95 billion by 2.07 percent. This is a 8.53 percent decrease over sales of $4.23 billion the same period last year.

Earnings

STLD

CORRECTION: Steel Dynamics Q4 EPS $1.36 Misses $1.42 Estimate, Sales $3.87B Miss $3.95B Estimate

As two people deeply impacted by cannabis, <a href="https://www.benzinga.com/topic/mike-tyson">Mike Tyson</a> and <a href="https://www.benzinga.com/topic/weldon-angelos">Weldon Angelos</a>, a justice reform advocate, applauded President Donald Trump's recent commitment to cannabis reforms, in an opinion piece <a href="https://www.foxnews.com/opinion/mike-tyson-weldon-angelos-hope-trump-fight-awful-marijuana-laws-biden-wouldnt-bother">published</a> by Fox News. 
These include rescheduling cannabis, ensuring banking access for cannabis businesses and granting clemency to those serving federal sentences for marijuana offenses.
Angelos criticized the inadequacy of President Joe Biden's efforts. Despite <a href="https://www.benzinga.com/markets/cannabis/22/10/29175510/breaking-biden-announces-pardons-for-all-federal-marijuana-possession-convictions">numerous promises</a> to decriminalize marijuana and expunge records, Biden's widely publicized <a href="https://www.benzinga.com/markets/cannabis/23/12/36361671/biden-pardons-thousands-convicted-of-cannabis-possession-calls-on-governors-to-do-the-same">misdemeanor pardons</a> "freed no one, restored no civil rights, and expunged no records," Angelos wrote.
Even Biden's <a href="https://www.benzinga.com/markets/cannabis/25/01/43054504/biden-commutes-sentences-of-nearly-2500-convicted-of-non-violent-drug-offenses-no-mention-of-cannabis-prisoners">last-minute clemency wave</a> largely bypassed marijuana offenders, with only a handful of cases benefiting from reforms. "This failure to prioritize marijuana clemency is bewildering," says Angelos. "Of all those impacted by harsh drug policies, individuals serving time for marijuana-related crimes are among the most deserving of relief."
Cannabis's continued classification as a <a href="https://www.benzinga.com/topic/controlled-substances-act">Schedule I drug </a>alongside heroin exacerbates the issue. This outdated designation prevents legitimate cannabis businesses from accessing banking services, forcing them to operate in cash, which invites crime and hampers growth. "Democrats had two years of controlling Congress and the presidency but failed to deliver meaningful cannabis reform," Angelos said.
Tyson echoes Angelos's concerns, underscoring cannabis's transformative potential. As the founder of <a href="https://www.benzinga.com/topic/tyson-2-0">TYSON 2.0</a>, a global cannabis brand, Tyson has long viewed the industry as a platform for wellness, innovation and entrepreneurship. "The cannabis industry is a multi-billion-dollar market employing hundreds of thousands of Americans and generating significant tax revenue," he says. Yet federal prohibition stifles its growth and leaves thousands imprisoned for cannabis-related offenses, devastating families and communities.
<h1 class="wp-block-heading">Tyson and Angelos Commend Trump's History of Action</h1>
Angelos benefited directly from Trump when he received a full pardon in 2020 after serving 13 years of a 55-year sentence for marijuana. Tyson said he's known Trump for years and he's &#8220;a man of his word, willing to take bold and compassionate action."
Tyson added, "His recent support for cannabis rescheduling, banking reform and clemency underscores his understanding of what's at stake — for the economy, for justice and for the thousands of families torn apart by outdated cannabis laws.&#8221;
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<li><a href="https://www.benzinga.com/general/health-care/25/01/43111246/legal-marijuana-linked-to-drop-in-anxiety-medications-what-it-means-for-pharma-giants">Legal Marijuana Linked To Drop In Anxiety Medications: What It Means For Pharma Giants</a></li>
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Photo: Shutterstock

Cannabis

Legal

Trump's Cannabis Reform: Mike Tyson, Weldon Angelos Say President Can Get It Done

Strong winds have caused another wildfire in Los Angeles County following the devastation wrought by <a href="https://www.benzinga.com/news/25/01/43066552/celebrity-realtor-josh-altman-says-half-of-palisades-residents-wont-move-back-after-fire">fires in Pacific Palisades</a> and Altadena.
What Happened: The Hughes Fire broke out midday Wednesday during a period of high winds in the area. The fire is concentrated in Castaic, a city of around 19,000 <a href="https://www.census.gov/quickfacts/fact/table/castaiccdpcalifornia/PST045224">residents</a> near the northernmost boundary of Los Angeles County.
Calfire <a href="https://www.fire.ca.gov/incidents/2025/1/22/hughes-fire/updates/685154eb-f60a-4d8f-b8df-0d59dbf1899f">estimates</a> the fire to have burned over 5,000 acres as of 1:03 p.m. PST with none of the fire contained. The Palisades fire burned over 23,000 acres <a href="https://www.latimes.com/wildfires-map/">according</a> to the Los Angeles Times.
The fire&#8217;s epicenter is roughly 10 miles north of Santa Clarita, a city of <a href="https://www.census.gov/quickfacts/fact/table/santaclaritacitycalifornia/PST045223">over</a> 224,000 residents, <a href="https://www.google.com/maps/@34.4567708,-118.580079,12.51z/data=!5m1!1e8?hl=en-US&amp;entry=ttu&amp;g_ep=EgoyMDI1MDEyMC4wIKXMDSoASAFQAw%3D%3D">according</a> to Google Maps.
Evacuations were <a href="https://www.fire.ca.gov/incidents/2025/1/22/hughes-fire">ordered</a> near Castaic and other rural areas surrounding the fire. Authorities issued warnings for the nearby hamlets Castaic Junction, Sandberg and Three Points. There are thus far no warnings for Santa Clarita.
Several nearby roads were closed due to smoke emanating from the fire, CBS reported.
Two Stocks To Watch: Six Flags Entertainment Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUN#NYSE">FUN</a>) operates its Six Flags Magic Mountain Valencia location in the area. The park <a href="https://www.scvedc.org/top-employers">employs</a> 3,000.
Edison International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EIX#NYSE">EIX</a>) is the parent company of Southern California Edison, which serves the Los Angeles County area. Wildfires can damage power lines, and utilities often face lawsuits if equipment is suspected to have caused the fire. The company&#8217;s exposure to previous fires led to a large market selloff.
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<li><a href="https://www.benzinga.com/news/25/01/43137164/trumps-immigration-raids-will-disrupt-chicagos-economy-pritzker-says">Trump&#8217;s Immigration Raids Could Disrupt Key Sectors Of Chicago&#8217;s Economy: Pritzker Says To Focus On Criminals, Not Law-Abiding Workers</a></li>
</ul>
Photo: Shutterstock

New Fire Breaks Out In Los Angeles County

Marathon Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>) has outperformed the market over the past 10 years by 1.2% on an annualized basis producing an average annual return of 12.78%. Currently, Marathon Petroleum has a market capitalization of $47.49 billion. 
Buying $1000 In MPC: If an investor had bought $1000 of MPC stock 10 years ago, it would be worth $3,347.55 today based on a price of $147.75 for MPC at the time of writing.
<h3>Marathon Petroleum's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1737589513_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.

Trading Ideas

Here's How Much $1000 Invested In Marathon Petroleum 10 Years Ago Would Be Worth Today

Warren Buffett, one of the wealthiest individuals in history, has never shied away from sharing his <a href="https://www.benzinga.com/24/12/42364120/warren-buffett-was-married-to-one-woman-lived-with-another-and-sent-christmas-cards-signed-by-all-3-daughter-says-not-a-bad-thing">unorthodox views</a> on wealth and inheritance. Known for his financial genius and no-nonsense demeanor, Buffett has consistently rejected the idea of passing down unearned fortunes to his children. In his eyes, inherited wealth isn't a gift – it's a trap.
In a 1986 Fortune magazine interview, Buffett laid out his philosophy with striking clarity: "The perfect amount to leave your children is enough money so that they would feel they could do anything but not so much that they could do nothing." For him, leaving his kids a "lifetime supply of food stamps just because they came out of the right womb" was not only wasteful but harmful – an anti-social act. His stance was rooted in the belief that wealth without effort undermines character and fosters a dependency no better than the one critics of welfare programs often rail against.
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<li>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/1milsaved"> The percentage may shock you</a>.</li>
</ul>
While some billionaires seek to control how their children spend inherited money through intricate trust structures, Buffett took a different approach. He emphasized giving them the tools to succeed, not a crutch to lean on indefinitely.
According to his biography, Buffett's disdain for unearned wealth runs deep. "Around country clubs, you hear people talking about the debilitating aspects of a welfare cycle … These same people are leaving their kids with a lifetime supply of food stamps and beyond," he remarked. The contradiction drove him crazy: "Instead of a welfare officer, they have a trust fund officer." Buffett's solution? You shouldn't consume more than you produce.
Still, Buffett hasn't left his children out of the picture entirely. He's entrusted them with overseeing charitable foundations, ensuring they have a role in shaping his philanthropic legacy. This choice transforms them into some of the world's most influential philanthropists, directing billions toward causes that matter to the family. A 2016 Atlantic article reported that Buffett's children will oversee charitable trusts tied to the family's foundations, including an Omaha-focused grant-making powerhouse.
See Also: Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">with $1,000 you can invest at just $0.26/share!</a>
For Buffett, the balance between support and independence is crucial. He wants his kids to feel empowered to pursue their passions but believes handing them too much wealth would strip them of purpose. As he told Fortune, "A few hundred thousand dollars sounds about right."
Peter, <a href="https://www.benzinga.com/personal-finance/24/10/41198368/warren-buffetts-son-who-famously-cashed-in-his-90-000-inheritance-at-19-spends-millions-in-buffe">who famously used his $90,000 inheritance</a> at just 19 to launch a music career, now leads the NoVo Foundation. The foundation is dedicated to empowering women and girls, advancing social and emotional learning and supporting Indigenous communities.
Howard, on the other hand, heads the Howard G. Buffett Foundation, which tackles critical global issues like food security and conflict resolution. Meanwhile, <a href="https://www.benzinga.com/personal-finance/24/09/40881429/warren-buffetts-daughter-asked-him-for-a-41-000-loan-to-remodel-her-kitchen-but-the-billionaire-">Susan</a> chairs initiatives that champion education and social justice, focusing on creating meaningful change in underserved communities.
Buffett's <a href="https://www.benzinga.com/money/are-you-rich">views on wealth and inheritance</a> challenge societal norms, particularly among the ultrarich. His philosophy forces us to ask: Is it really a gift to leave massive wealth to the next generation or does it hinder their potential? For Buffett, the answer is clear: Wealth should be a tool for doing good, not an excuse for doing nothing.
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Personal Finance

Warren Buffett Insists His 3 Kids Won't Get A 'Lifetime Supply Of Food Stamps Just Because They Came Out Of The Right Womb'

S&amp;P Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPGI#NYSE">SPGI</a>) has outperformed the market over the past 10 years by 7.2% on an annualized basis producing an average annual return of 18.78%. Currently, S&amp;P Global has a market capitalization of $158.55 billion. 
Buying $1000 In SPGI: If an investor had bought $1000 of SPGI stock 10 years ago, it would be worth $5,541.26 today based on a price of $510.96 for SPGI at the time of writing.
<h3>S&amp;P Global's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1737588611_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.

SPGI

Here's How Much You Would Have Made Owning S&P Global Stock In The Last 10 Years

Discover Financial Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>) reported fourth-quarter financial results Wednesday after the bell. Here&#8217;s a rundown <a href="https://www.benzinga.com/pressreleases/25/01/b43145255/discover-financial-services-reports-fourth-quarter-2024-net-income-of-1-3-billion-or-5-11-per-dilu">of the report</a>.
<ul>
<li>Q4 Revenue: $4.76 billion, versus <a href="https://www.benzinga.com/calendars/earnings">estimates</a> of $4.46 billion</li>
</ul>
<ul>
<li>Q4 EPS: $5.11, versus estimates of $3.58</li>
</ul>
In the digital banking segment, Discover ended the period with total loans of $121.1 billion, down 6% year-over-year. Net interest income for the quarter grew by&nbsp;5%&nbsp;year-over-year, driven by net interest margin expansion. Non-interest income increased&nbsp;68% year-over-year and total operating expenses climbed 4% year-over-year.
Payment services pretax income increased 37% year-over-year primarily due to volume growth and timing of incentives. Payment services volume was up&nbsp;4%&nbsp;compared to the prior year&#8217;s quarter.
&#8220;Discover&#8217;s&nbsp;fourth quarter&nbsp;results capped off a successful 2024 as loan growth, margin expansion, and credit improvement led to strong financial performance,&#8221; said Michael Shepherd, Discover&#8217;s interim CEO and president. 
&#8220;It was a transformative year for our business as we announced our pending merger with Capital One, exited student lending, and enhanced our risk management and compliance programs. These actions position us well for the future.&#8221;
See Also: <a href="https://www.benzinga.com/25/01/43142623/happy-birthday-sp-500-spy-etf-if-you-invested-1000-in-spy-at-launch-heres-how-much-youd-have-today">Happy Birthday S&amp;P 500 SPY ETF! If You Invested $1,000 In SPY At Launch, Here&#8217;s How Much You&#8217;d Have Today</a>
Discover&#8217;s board declared a quarterly cash dividend of 70 cents per share, payable on March 6 to shareholders of record as of Feb. 20. 
Management will further discuss the quarter on a conference call with analysts and investors slated for 8 a.m. ET Thursday morning.
DFS Price Action: <a href="http://benzinga.com/quote/dfs">Discover shares</a> were up 1.24% after-hours on Wednesday, trading at $199.95 at the time of publication, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Courtesy of Discover.

After-Hours Center

Discover Delivers Q4 Earnings Beat, Revenue Beat: The Details

Ingersoll Rand (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IR#NYSE">IR</a>) has outperformed the market over the past 5 years by 8.35% on an annualized basis producing an average annual return of 21.51%. Currently, Ingersoll Rand has a market capitalization of $37.98 billion. 
Buying $1000 In IR: If an investor had bought $1000 of IR stock 5 years ago, it would be worth $2,729.72 today based on a price of $94.23 for IR at the time of writing.
<h3>Ingersoll Rand's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1737587710_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 5 Years Ago Would Be Worth This Much Today

MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) shares closed down Wednesday, due to a<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43142275/bitcoin-ethereum-xrp-dogecoin-reel-downwards-but-trader-hints-at-bitcoin-god-candle-loading"> decline in Bitcoin's (CRYPTO: BTC/USD) price</a>, which dropped 1.73% to $104,313.65.
What To Know: Bitcoin transaction volume over $100,000 decreased by 15%, while netflows dropped 307%, signaling a possible cooling of market activity. Over $161 million in liquidations occurred in the past 24 hours, which put additional pressure on the market. 
While BlackRock clients facilitated the purchase of $600 million in Bitcoin via an ETF, market sentiment remains cautious due to the nature of these transactions.
Bitcoin's liquidity is concentrated between $96,000 and $111,000, with support levels between $88,000-$95,000. If these levels fail, Bitcoin could drop further, potentially impacting MicroStrategy's stock as well. 
Despite the short-term volatility, Bitcoin&#8217;s overall bullish trend remains intact as long as it stays above $58,000, which provides some stability for MicroStrategy.
Why It Matters: For MicroStrategy, the company's heavy exposure to Bitcoin potentially means its stock is especially sensitive to Bitcoin's price. The company also recently received shareholder approval for a proposal to increase its share count, which could lead to more Bitcoin purchases in the future. 
MSTR Price Action: Microstrategy shares closed Wednesday down 3.03% at $377.31, according to<a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072224&amp;t=be2bearmibe3na1"> Benzinga Pro.</a>
<figure class="wp-block-image size-large is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent012225&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="1024" height="521" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/22165820/Screenshot-2025-01-22-at-16.57.45-1024x521.png" alt="" class="wp-image-745617" style="width:502px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/22165820/Screenshot-2025-01-22-at-16.57.45-1024x521.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/22165820/Screenshot-2025-01-22-at-16.57.45-300x153.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/22165820/Screenshot-2025-01-22-at-16.57.45-768x391.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/22165820/Screenshot-2025-01-22-at-16.57.45.png 1437w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
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Image Via Shutterstock.

MSTR

MicroStrategy Shares Are Down With Bitcoin Today: What's Going On?

Wall Street has shown time and again that it's resilient enough to withstand a variety of challenging macroeconomic conditions.&nbsp;
From the <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43001512/inflation-rises-to-29-in-december-core-slows-yet-rising-energy-costs-put-feds-target-at-risk">high inflation</a> barrage of 2022 to a 5.5% peak in interest rates beginning in 2023, the S&amp;P 500's recovery to new all-time highs is a bullish signal. But what impact could the prospect of fewer rate cuts in 2025 have on the overall health of the market?&nbsp;
January 2025 saw Fed officials indicate that they <a href="https://www.morningstar.co.uk/uk/news/258864/will-the-us-fed-raise-interest-rates-in-2025.aspx#:~:text=Fed%20officials%20indicated%20they%20now,cuts)%20in%20their%20September%20projections." target="_blank" rel="noreferrer noopener">now expect two rate cuts</a> amounting to a half point throughout the year ahead. The news compounded the S&amp;P 500's steady decline in what's set to be a period of economic uncertainty for markets as the unpredictable President-elect Donald Trump approaches his second term in the White House. 
As recently as September, officials were anticipating a full percentage point of cuts throughout 2025 at a crucial time for Wall Street firms seeking to take advantage of lower borrowing costs to embrace the ongoing AI boom surrounding key sectors.&nbsp;
Lower interest rates are generally bullish for US firms because the lower cost of borrowing helps to facilitate more spending, investing, and hiring strategies.&nbsp;
Although US Bank data suggests that equity investors appear to be <a href="https://www.usbank.com/investing/financial-perspectives/market-news/how-do-rising-interest-rates-affect-the-stock-market.html" target="_blank" rel="noreferrer noopener">more focused</a> on factors like the wider economy and corporate earnings ahead of interest rates, a higher-for-longer environment could profoundly impact the growth of the most innovative players throughout US markets in 2025. This could have a domino effect on the growth of innovation throughout the AI sector and strong-performing markets in recent years. 
<h2 class="wp-block-heading">Keeping the Good Times Rolling&nbsp;</h2>
Tech stocks populate around one-third of the S&amp;P 500 index, and recent advances in AI and the hype surrounding innovations throughout the sector have played a key role in enabling Wall Street to shake off jitters related to historically high inflation and interest rate hikes in recent years.&nbsp;
Shares in leading AI stocks like Nvidia and Broadcom, which rallied 171% and 108% respectively in 2024, have helped to sustain the S&amp;P 500's outperformance, with the index surging 23.31% throughout the year with 57 record closes.&nbsp;
However, in the 21st Century, the average gain of the S&amp;P 500 is closer to 10% per year. It's this contrast that underlines the importance of the AI boom to Wall Street's health.&nbsp;
JPMorgan data has laid bare the historical parallels between Federal Reserve rate cuts and bullish sentiment on Wall Street. Since 1980, <a href="https://www.jpmorgan.com/insights/markets/top-market-takeaways/tmt-rate-cut-breakdown-what-you-need-to-know-now" target="_blank" rel="noreferrer noopener">five of the best 10 years</a> for the S&amp;P 500 happened when the Fed was cutting rates without a recession. Additionally, the Fed has cut rates 12 times when the index was within 1% of its all-time high, and in all 12 cases, the market was higher one year later–boasting a median return of 15%. 
Because the immediate effect of rate cuts involves a reduction in borrowing costs, these dovish reversions generally <a href="https://www.linkedin.com/pulse/what-fintech-industry-can-expect-from-rate-cut-later-year-oslgc#:~:text=Impact%20on%20Capital%20and%20Investment,wave%20of%20innovation%20and%20expansion.">improve consumer spending</a> as well as investment in innovation. This paves the way for cheaper access to capital and far stronger growth prospects.&nbsp;
At a time when the generative AI boom is moving from its hype phase to its implementation phase, this access to spending is imperative for the sustainability of Wall Street's brightest tech startups, and a more hawkish stance from the Fed could stifle the scaling up of artificial intelligence adoption.&nbsp;
<h2 class="wp-block-heading">Could Higher Rates Bring Growth?&nbsp;</h2>
Other high-growth industries like fintech could present solutions to consumers during a higher-for-longer interest rate environment that helps to keep stocks within the sector higher amid the uncertainty.&nbsp;
Although higher rates will stifle consumer appetite for borrowing, innovations <a href="https://www.benzinga.com/fintech/25/01/42818294/how-fintech-must-evolve-to-meet-the-needs-of-techs-new-wealth" target="_blank" rel="noreferrer noopener">within fintech like open banking</a> and buy now pay later (BNPL) could empower consumers to navigate the challenging economic climate. 
While open banking can help to promote financial management and literacy across various banking, investing, and saving apps, the <a href="https://www.eposnow.com/us/resources/payment-trends/#buy-now-pay-later" target="_blank" rel="noreferrer noopener nofollow">emerging BNPL trend</a> paves the way for access to borrowing for essential purchases that are usually interest-free. 
With this in mind, we could see the fintech landscape continue to grow as a solution to high interest rates while other major tech industries are hampered by higher costs during their scaling process.&nbsp;
<h2 class="wp-block-heading">Wall Street's Trump Card</h2>
Donald Trump's second term in the White House is sure to influence the performance of US markets alongside interest rates throughout 2025.&nbsp;
Concerns over the President-elect's tariffs and a stronger US Dollar, both of which could be inflationary, may significantly impact the Federal Reserve's stance on interest rates throughout the year.&nbsp;
Should a strengthening dollar begin to <a href="https://www.ig.com/au/trading-strategies/Why-US-rate-cuts-in-2025-could-surpass-current-expectations-250108" target="_blank" rel="noreferrer noopener">impact the ability of US manufacturers</a> and exporters to trade internationally, we could see the Fed cut rates to maintain a level of competitiveness across global markets. 
On the flip side, Trump's stance on deregulation could be such a catalyst for growth that it <a href="https://www.businessinsider.com/federal-reserve-fed-interest-rates-analyst-reaction-wall-street-stocks-2024-12" target="_blank" rel="noreferrer noopener nofollow">pushes yields higher</a> and prompts a Federal Reserve intervention, according to Jochen Stanzl, chief market analyst at CMC Markets. It's for this reason that early inflation data surrounding Trump's Presidency will be crucial for the future of rate cuts. 
<h2 class="wp-block-heading">What to Expect in 2025</h2>
The sheer power of the ongoing AI boom means that we're likely to see a high level of resilience in the S&amp;P 500 even in the most unpredictable of market circumstances. However, all bets are off when it comes to the rate cuts we're likely to see throughout the year.&nbsp;
While the Fed anticipates two cuts in 2025, Trump's arrival in the White House will be the deciding factor for the direction that both interest and <a href="https://www.benzinga.com/topic/inflation" target="_blank" rel="noreferrer noopener">inflation</a> take in the new year. 
As a hedge against the uncertainty, there may be more value in fintech moving forward, but the best approach for investors is to avoid resting on laurels and to continue to analyze emerging market and inflation data.&nbsp;

Macro Economic Events

Bonds

Measuring the Uneven Impact of Weakening Rate Cut Forecasts on Wall Street in 2025

AST SpaceMobile Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) shares are falling in Wednesday&#8217;s after-hours session after the space-based cellular broadband network company announced a <a href="https://www.benzinga.com/pressreleases/25/01/b43145116/ast-spacemobile-announces-proposed-private-offering-of-400-0-million-of-convertible-senior-notes-d">proposed private offering</a>.
What Happened: After the market close on Wednesday, AST SpaceMobile announced plans to offer $400 million worth of convertible senior notes due 2032 in a private offering to institutional investors. 
The company said it also intends to grant the initial purchasers a 13-day period to purchase up to an additional $60 million of the notes. 
AST SpaceMobile plans to use a portion of the net proceeds to pay the cost of capped call transactions. The remaining proceeds will be used for working capital and other general corporate purposes. 
AST SpaceMobile last reported <a href="https://www.benzinga.com/general/space/24/11/41994523/ast-spacemobile-misses-q3-earnings-expectations-announces-new-launch-service-agreements">earnings</a> in November, ending the period with $518.9 million in cash, cash equivalents and restricted cash.
AST Price Action: AST SpaceMobile shares were down 13.74% in after-hours, trading at $19.41 at the time of publication Wednesday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/01/43144858/sp-500-hits-fresh-records-at-6100-as-strong-earnings-trumps-ai-wager-fuel-bull-run">S&amp;P 500 Hits Fresh Records At 6,100: Strong Earnings, Trump&#8217;s AI Wager Fuel Bull Run</a></li>
</ul>
Photo: Courtesy of AST SpaceMobile.

SPACE

Offerings

ASTS

AST SpaceMobile Stock Is Tumbling Wednesday: What's Going On?

CrowdStrike Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) has outperformed the market over the past 5 years by 31.79% on an annualized basis producing an average annual return of 44.95%. Currently, CrowdStrike Holdings has a market capitalization of $93.11 billion. 
Buying $1000 In CRWD: If an investor had bought $1000 of CRWD stock 5 years ago, it would be worth $6,510.16 today based on a price of $378.00 for CRWD at the time of writing.
<h3>CrowdStrike Holdings's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1737586813_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.

CRWD

$1000 Invested In CrowdStrike Holdings 5 Years Ago Would Be Worth This Much Today

UBS analyst John Hodulik maintains Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) with a Buy and raises the price target from $1040 to $1150.

Price Target

Analyst Ratings

NFLX

UBS Maintains Buy on Netflix, Raises Price Target to $1150

Benzinga recently hosted its virtual event, ETF Unlocked, bringing together important thought leaders in the space to share their expertise and discuss current and future trends.

Scott Wetherington, CIO of <a href="https://www.adaptiveetfs.com/">Adaptive Investments</a>, participated in the event. Adaptive Investments offers 4 ETFs that are actively managed. The ETFs include the Adaptive Alpha Opportunities ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGOX#NYSE">AGOX</a>), RH Hedged Multi-Asset Income ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMAX#NYSE">AMAX</a>), RH Tactical Outlook ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RHTX#NYSE">RHTX</a>) and RH Tactical Rotation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RHRX#NYSE">RHRX</a>).&nbsp;

Mr Schoffstall, speaking of his fund&rsquo;s strategy, stated, &ldquo;[Precious Minerals] is a part of the market that&rsquo;s been really underappreciated in recent years, I think, and it&#39;s just starting to get its due&hellip;just the last year alone, in the critical minerals space, we&rsquo;ve seen about 1.1 trillion invested on a global scale.&rdquo;

Watch the full interview here:

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" frameborder="0" height="315" src="https://www.youtube.com/embed/0pOjoM1FtWM?start=2560" width="560"></iframe>

Featured photo by<a href="https://unsplash.com/@tprahm?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText"> Tyler Prahm</a> on<a href="https://unsplash.com/s/photos/etf?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText"> Unsplash</a>

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