Latest news for Tess Holdings Co (OTC:TSSHF) Stock

Tess Holdings Co Ltd is engaged in the development and electricity sales of renewable power plants and power retailing business. Further, it is also involved in the operation and maintenance of cogeneration and other environmental energy-saving systems.

TESS HOLDINGS CO LTD by TESS Holdings Co LTD.

Tess Holdings Co Ltd

<ul>
<li>Type Inspection Authorization is considered the final phase of aircraft certification ahead of commercial service</li>
<li>Tests were completed using an FAA-conforming flight deck in a Joby simulator</li>
<li>Company targets 2025 to start TIA flight testing with first FAA-conforming aircraft, currently being built</li>
</ul>

News

JOBY

Joby Says It Conducts First FAA Testing Under TIA, Begins Final Phase of Certification Program

Canoo's Common Stock will continue to trade on The Nasdaq Capital Market under the existing ticker symbol "GOEV" and will begin trading on a split-adjusted basis when the market opens on December 24, 2024. The new CUSIP number for Canoo's Common Stock following the reverse stock split will be 13803R300.

Stock Split

GOEV

Canoo Plans To Effect 1-For-20 Reverse Stock Split Of Its Common Stock, Effective On December 24, 2024

Novo Nordisk today announced headline results from REDEFINE 1, a phase 3 trial in the global REDEFINE programme. REDEFINE 1 is a 68-week efficacy and safety trial investigating subcutaneous CagriSema (a fixed dose combination of cagrilintide 2.4 mg and semaglutide 2.4 mg) compared to the individual components cagrilintide 2.4 mg, semaglutide 2.4 mg and placebo, all administered once-weekly. The trial included 3,417 randomised people with obesity or overweight with one or more comorbidities and a mean baseline body weight of 106.9 kg.
The trial achieved its primary endpoint by demonstrating a statistically significant and superior weight loss at week 68 with CagriSema versus placebo.
The REDEFINE 1 trial was based on a flexible protocol, allowing patients to modify their dosing throughout the trial. After 68 weeks, 57.3% of patients treated with CagriSema were on the highest dose compared to 82.5% with cagrilintide 2.4 mg and 70.2% with semaglutide 2.4 mg.

Novo Nordisk Says CagriSema Demonstrates Weight Loss In Adults With Obesity Or Overweight In The REDEFINE 1 Trial; Company Says  Trial Achieved Its Primary Endpoint By Demonstrating Weight Loss At Week 68 With CagriSema Versus Placebo

Stifel analyst Thomas Stephan downgrades RxSight (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RXST#NASDAQ">RXST</a>) from Buy to Hold and lowers the price target from $65 to $40.

Downgrades

Price Target

Analyst Ratings

RXST

Stifel Downgrades RxSight to Hold, Lowers Price Target to $40

Stifel analyst Chris O'Cull initiates coverage on Valvoline (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VVV#NYSE">VVV</a>) with a Hold rating and announces Price Target of $42.

Initiation

Stifel Initiates Coverage On Valvoline with Hold Rating, Announces Price Target of $42

Morgan Stanley analyst John Glass upgrades Brinker International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EAT#NYSE">EAT</a>) from Underweight to Equal-Weight and raises the price target from $70 to $115.

Upgrades

Morgan Stanley Upgrades Brinker International to Equal-Weight, Raises Price Target to $115

Loop Capital analyst Rick Paterson upgrades FedEx (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) from Hold to Buy and raises the price target from $288 to $365.

Loop Capital Upgrades FedEx to Buy, Raises Price Target to $365

U.S. stock futures declined on Friday, ahead of the &#8220;Triple Witching&#8221; hour, which is expected to see the expiry of about $6.6 trillion options, for the quarter.
This comes after the market fell on Wednesday after the Federal Reserve&#8217;s hawkish cut and ended mixed on Thursday. In Friday&#8217;s premarket, all four major indices were trading lower.
The 10-year and two-year Treasury notes yielded 4.55% and 4.28%, respectively. The probability of having no change in the interest rates for the upcoming Jan. 31, 2025 decision was at 89.3%, according <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">to</a> CME Group&#8217;s FedWatch tool.
Investors will receive another critical economic data point on Friday with the release of the November personal consumption expenditures (PCE) inflation index. This release follows other inflation indicators that suggest price increases accelerated in November.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-1.12%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.78%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.57%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-1.13%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Friday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was down 1.16% to $579.30&nbsp;and the Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 1.23% to $507.83, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Cues From The Last Session
The S&amp;P 500 ended the day essentially unchanged after giving up earlier gains. The Nasdaq 100 fell 0.5%, fluctuating between small gains and losses throughout the session.
However, Dow Jones ended marginally higher, breaking its 10-day losing streak.
Most sectors on the S&amp;P 500 closed on a negative note, with materials, real estate, and energy stocks recording the biggest losses on Thursday. However, utilities and financials stocks bucked the overall market trend, closing the session higher.
Thursday&#8217;s economic data showed a revision upward in one of the Fed&#8217;s preferred inflation measures to 2.2%.
As Fed Chair Jerome Powell has indicated that further easing would require additional progress on inflation, market participants will now focus on the final significant economic data point of the year: November&#8217;s personal consumption expenditures, due out on Friday.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.10%</td>
<td>19,372.77</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.087%</td>
<td>5,867.08</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.036%</td>
<td>42,342.24</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.45%</td>
<td>2,221.50</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts
The &#8220;Triple Witching&#8221; hour is a quarterly event that occurs during the final hour of trade on the third Friday of March, June, September, and December. During this period, contracts for stock index futures, stock index options, and stock options all expire at the same time.
According to the Chairman and Founder of Navellier &amp; Associates, Louis Navellier, &#8220;The timing of buying the dip is complicated by options expiration tomorrow and Christmas next week, but a recovery by the end of the year would not surprise anyone.&#8221;
He also said, &#8220;In my opinion, the stock and bond market reactions to the FOMC Statement, dot plot, and Fed Chairman Powell's press conference were grossly overdone and eviscerated all the stock market gains since the Presidential election.&#8221;
According to him, both France and Germany are in the midst of a political crisis and are "headless" until new leadership emerges. &#8220;As a result, I am expecting up to four Fed rate cuts in 2025 as collapsing interest rates in the eurozone also cause U.S. Treasury yields to decline,&#8221; he said.
However, Tom Lee, managing partner and head of research at Fundstrat Global Advisors, thinks <a href="https://www.benzinga.com/markets/equities/24/12/42608297/tom-lee-explains-why-fewer-cuts-in-2025-could-boost-the-market-urges-investors-to-buy-the-dip-amid-recent-volatility#:~:text=What%20Happened%3A%20%E2%80%9CThe%20fewer%20cuts,on%20Thursday%2C%20according%20to%20Fundstrat.&amp;text=%2C%20suffering%20its%20steepest%20one%2Dday%20decline%20since%20September%202022">fewer cuts are better for the economy</a>.
"The fewer cuts [the Fed does] in 2025, it actually is better for this bull market because it provides a lot of future ammunition to protect the economy," he said.
"I know yesterday's (Wednesday&#8217;s) pullback was really painful, but to us, the fundamentals supporting stocks are intact.&#8221;
Carson Research&#8217;s vice president and global macro strategist, Sonu Varghese called 2024 a &#8220;strong&#8221; year for U.S. stocks, even with the recent pullback.
&#8220;The fallout from the Fed meeting wiped out post-election gains across large swaths of the market, including value stocks and mid-cap and small-cap stocks, though looking back over the entire year, almost every major category is up double-digits so far, across style (value – core – growth) and capitalization (large – mid &#8211; small). For comparison the MSCI All-Cap World ex US Net Index is up just 7.2% year to date. That should tell you how strong of a year 2024 has been for US stocks, even with the recent pullback,&#8221; Varghese said in a note.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures</a>
Upcoming Economic Data
Important data is slated to be released on Friday that will help investors to determine the future course of action.
<ul>
<li>On Friday, personal income and spending data along with core and headline PCE index data for November will be released at 8:30 a.m., ET.</li>
<li>Consumer sentiment data for December will be released at 10:00 a.m., ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>Psyence Biomedical Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PBM#NASDAQ">PBM</a>) was up 105% in premarket after it inked an IP licensing and mutual exclusivity agreement with Optimi Health Corp., a Canadian psychedelics pharmaceutical manufacturer.</li>
<li>Humacyte Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUMA#NASDAQ">HUMA</a>) was up 52.31% in premarket after it received FDA approval for SYMVESS, a bioengineered human tissue designed as a universally implantable vascular conduit for arterial injury treatment.</li>
<li>Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) was down 3.37% after issuing <a href="https://www.benzinga.com/24/12/42610441/nikes-new-ceo-says-we-lost-our-obsession-with-sport-as-he-rebukes-old-strategies-on-performance-marketing-isolation-of-wholesalers-aims-to-create-demand">lower revenue guidance</a> and additional gross margin pressure given the higher demand creation expenses.</li>
<li>FedEx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) was 7.33% higher after it posted stronger-than-expected results for its second quarter. The company also announced that it has decided to pursue a full separation of FedEx Freight through the capital markets, creating a new publicly traded company.</li>
<li>BlackBerry Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BB#NYSE">BB</a>) was down 5.03% as it expects fourth-quarter revenue in the range of $126 million to $135 million versus the estimates of $161.49 million.</li>
<li>Winnebago Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WGO#NYSE">WGO</a>) was up 2.04% as analysts expect it to post quarterly earnings at 20 cents per share on revenue of $672.23 million before the opening bell.</li>
<li>Carnival Corporation. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) fell 1.11% as it is expected to report quarterly earnings at 8 cents per share on revenue of $5.93 billion before the opening bell.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures were lower in the early New York session by 2.75% to hover around $68.66 per barrel.
The gold spot index was up by 0.42% to $2,619.24 per ounce. The Dollar Index was down 0.16% to 108.239 level.
Asian markets declined on Friday, as Hong Kong&#8217;s Hang Seng, South Korea&#8217;s Kospi, Japan&#8217;s Nikkei 225, India&#8217;s S&amp;P BSE Sensex, China&#8217;s CSI 300 and Australia&#8217;s ASX 200 index fell. Most European markets were also in the red in early trading.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42610958/expecting-up-to-four-fed-rate-cuts-in-2025-says-this-analyst-despite-hawkish-powell-saying-it-was-close-on-the-decision-to-cut-or-not-heres-why">Hawkish Powell Aside, This Analyst Expects 4 Fed Rate Cuts In 2025: Here&#8217;s Why</a></li>
</ul>
Photo courtesy: Wikimedia

Earnings

Equities

Futures

Economics

Federal Reserve

Pre-Market Outlook

Markets

Movers

Trading Ideas

HUMA

US Stocks To Open Lower As Traders Brace For 'Triple Witching' Hour: Analyst Says End Of The Year Recovery 'Would Not Surprise Anyone'

Keefe, Bruyette &amp; Woods analyst Michael Brown upgrades Ares Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARES#NYSE">ARES</a>) from Market Perform to Outperform and raises the price target from $166 to $202.

ARES

Keefe, Bruyette & Woods Upgrades Ares Management to Outperform, Raises Price Target to $202

Keefe, Bruyette &amp; Woods analyst Kyle Voigt upgrades Tradeweb Markets (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TW#NASDAQ">TW</a>) from Market Perform to Outperform and raises the price target from $143 to $150.

Keefe, Bruyette & Woods Upgrades Tradeweb Markets to Outperform, Raises Price Target to $150

NIPG

NIP Group Introduces Its First MOBA Game- Re: Aetatis, Which Begins Open Beta Testing On December 24, 2024,

BMO Capital analyst Evan David Seigerman downgrades Merck &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) from Outperform to Market Perform and lowers the price target from $136 to $105.

BMO Capital Downgrades Merck & Co to Market Perform, Lowers Price Target to $105

BMO Capital analyst Evan Seigerman downgrades Biogen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) from Outperform to Market Perform and lowers the price target from $230 to $164.

BIIB

BMO Capital Downgrades Biogen to Market Perform, Lowers Price Target to $164

Needham analyst Serge Belanger reiterates Omeros (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OMER#NASDAQ">OMER</a>) from Hold to Hold.

Reiteration

OMER

Needham Reiterates Hold on Omerosto Hold

ZCAR

Zoomcar Says It Launched Zoomcar Cabs, Which Are Affordable Car Rentals With Drivers As A New Offering

Kim Jong Un&#8216;s North Korean hackers have reportedly stolen a staggering $1.3 billion in cryptocurrencies this year. This amount represents more than half of the total $2.2 billion stolen globally, according to research firm Chainalysis. The report highlights the increasing threat posed by these cybercriminals, who have more than doubled their haul from the previous year.
What Happened: The report indicates that some of these cybercriminal activities involved&nbsp;North Korean hackers posing as&nbsp;remote IT workers to infiltrate&nbsp;cryptocurrency and technology firms. The surge in stolen cryptocurrency underscores the industry&#8217;s need to address the evolving threat landscape, according to&nbsp;Chainalysis, BBC&nbsp;<a href="https://www.bbc.com/news/articles/cwy3dz0614jo">reported</a> on Friday.
The report also notes that the majority of the stolen crypto was due to compromised private keys, which are essential for controlling access to user assets on crypto platforms. Significant incidents this year included the theft of $300 million in Bitcoin from DMM Bitcoin in Japan and nearly $235 million from WazirX in India.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42604023/bitcoin-ethereum-xrp-plunge-over-6-each-dogecoin-drowns-14-in-turbulent-post-fomc-thursday?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, XRP Plunge Over 6% Each, Dogecoin Drowns 14% On Turbulent Post-FOMC Thursday</a>
The U.S. government has accused the North Korean regime of using cryptocurrency theft to evade international sanctions and fund its weapons programs. A federal court in St. Louis recently&nbsp;indicted 14 North Koreans for&nbsp;their alleged involvement in a conspiracy to extort funds from U.S. companies.
Why It Matters: The escalation of North Korean cyberattacks on cryptocurrency platforms has been a growing concern. Earlier this year,&nbsp;reports&nbsp;indicated that these <a href="https://www.benzinga.com/markets/asia/24/09/40712420/north-korean-hackers-escalate-crypto-heists-funds-stolen-double-to-1-6b">state-sponsored hackers </a>had intensified their efforts, resulting in billions of dollars in losses. The sophistication of these attacks raises significant questions about the security of digital assets and the broader implications for the global financial system.
Additionally, the&nbsp;FBI&nbsp;has issued warnings about potential <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40725296/kim-jong-uns-north-korea-backed-hackers-may-target-bitcoin-and-ethereum-etfs-fbi-issues-wa">North Korean cyber activities</a> targeting U.S.-based exchange-traded funds associated with Bitcoin and Ethereum. 
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/general/entertainment/24/12/42545829/mark-cuban-expresses-sympathy-for-hawk-tuah-girl-amid-meme-coin-controversy-wasnt-something-she-fully-understood?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Expresses Sympathy For &#8216;Hawk Tuah&#8217; Girl Amid Meme Coin Controversy: &#8216;Wasn&#8217;t Something She Fully Understood&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image Via Shutterstock

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

Cryptocurrency

General

Kim Jong Un's North Korea-Linked Hackers Steal $1.3B In Bitcoin And Other Cryptocurrencies In 2024: Report

Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) announced Thursday that eight grandchildren of founder Sam Walton will gain voting rights over the family&#8217;s holdings, expanding the total number of voting members to 11 in a significant transition of power for America&#8217;s wealthiest retail dynasty.
What Happened: The Walton family holds roughly 46% of Walmart&#8217;s shares valued at approximately $345 billion at current market prices. Walmart&#8217;s current market capitalization stands at $750 billion.
The expansion marks a crucial step in preserving multi-generational control over the retail giant that began as a single Arkansas store in 1962.
According to Walmart&#8217;s disclosure, the transition will not affect existing leadership roles or board seats held by family members. The company currently has two Walton family members on its 12-person board, including Steuart Walton, who in 2016 became the first grandchild <a href="https://www.benzinga.com/startups/23/12/36262896/passing-the-waltons-how-the-house-of-nahyan-family-of-abu-dhabi-surpassed-walmart-heirs-as-worlds-ri">elected to the board at age 34</a>.
&#8220;The Walton family continues to believe in the importance of maintaining the appropriate balance of family and non-family ownership,&#8221; the family stated in Thursday&#8217;s press release, emphasizing their commitment to supporting all shareholders&#8217; interests and long-term business success.
See Also: <a href="https://www.benzinga.com/markets/equities/24/12/42608297/tom-lee-explains-why-fewer-cuts-in-2025-could-boost-the-market-urges-investors-to-buy-the-dip-amid-recent-volatility">Tom Lee Explains Why &#8216;Fewer Cuts In 2025&#8217; Could Boost The Market, Urges Investors To &#8216;Buy The Dip&#8217; Amid Recent Volatility</a>
Why It Matters: This move follows earlier leadership transitions, <a href="https://www.benzinga.com/general/education/15/06/5572729/a-history-of-the-waltons-reign-over-wal-mart">including the 2015 appointment</a> of Greg Penner, Sam Walton&#8217;s son-in-law, as chairman, succeeding Rob Walton. The founding generation, including siblings Alice, Jim, and Rob Walton, now in their 70s and 80s, has been gradually stepping back from direct involvement in the business.
In 2022, Rob Walton and his family members notably <a href="https://www.benzinga.com/news/22/08/28588081/have-the-walmart-heirs-been-selling-their-shares-heres-how-much-they-still-own">expanded their business empire</a> by acquiring the Denver Broncos NFL team for $4.65 billion.
Price Action: Walmart stock closed at $93.40 on Thursday, with analysts maintaining a <a href="https://www.benzinga.com/quote/WMT/analyst-ratings">consensus price target</a> of $94.39, based on 31 analyst ratings.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42610523/charlie-mungers-bitcoin-warning-reignites-as-gordon-johnson-calls-king-crypto-worthless-with-btc-near-100k">Gordon Johnson Revives Charlie Munger&#8217;s Criticism Of Bitcoin As &#8216;Rat Poison,&#8217; Calls It &#8216;Worthless&#8217; With BTC Falling Below $100,000: &#8216;Purely Speculative Tulip That&#8217;s In A Bubble&#8217;</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Walmart Founder Gives Voting Power To 8 Grandchildren As Walton Family Strengthens Control Over $345 Billion Retail Empire

After the Federal Reserve chair Jerome Powell delivered <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42563299/feds-powell-shocks-markets-its-a-new-phase-were-significantly-closer-to-neutral">hawkish commentary </a>along with a 25 basis points rate cut on Wednesday, the markets have slipped for two consecutive days. Even as the Fed's December dot plot projects only two additional 25-basis-point cuts in 2025, this analyst expects up to four rate cuts in 2025.
What Happened: Chairman and Founder of Navellier &amp; Associates, Louis Navellier said, &#8220;In my opinion, the stock and bond market reactions to the FOMC Statement, dot plot, and Fed Chairman Powell's press conference were grossly overdone and eviscerated all the stock market gains since the Presidential election.&#8221;
He added that Powell&#8217;s comment that the Fed's year-end inflation forecast has "kind of fallen apart" did not inspire confidence.
Navellier thinks that the Fed could possibly follow the falling interest rates in the Eurozone as Europe&#8217;s largest economies, Germany and France, are slipping into recession.
&#8220;The European Central Bank will be cutting key interest rates 4 to 5 times in 2025 until key interest rates are at 2% to 1.75%. Most Fed watchers and the FOMC itself do not see all these global dominos falling in the eurozone as the recession in its largest economy, Germany, gets worse. The second-largest economy in the eurozone, France, is also slipping into a recession.&#8221;
See Also: <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42563299/feds-powell-shocks-markets-its-a-new-phase-were-significantly-closer-to-neutral">Fed&#8217;s Powell Shocks Markets After Interest Rate Cut: &#8216;It&#8217;s A New Phase&#8217;</a>
Why It Matters: According to Navellier, both France and Germany are in the midst of a political crisis and are "headless" until new leadership emerges. &#8220;As a result, I am expecting up to four Fed rate cuts in 2025 as collapsing interest rates in the eurozone also cause U.S. Treasury yields to decline,&#8221; he said.
Pointing out one of the first things that Powell said was &#8220;it was close&#8221; on the decision to cut or not. Navellier described this as &#8220;the most telling thing&#8221; about his speech as 95% of the market bet was for a cut.
However, he thinks the current pullback in the market could become a buying opportunity &#8220;if earnings continue to rise as expected.&#8221;
Price Action: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) has fallen by 3.33% over the last five trading sessions, while Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) has slipped 3.06% in the same period. On a year-to-date basis, both the ETFs are up 24% and 27.72%, respectively.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/market-summary/24/12/42569883/quantum-computing-rigetti-d-wave-skyrocket-up-to-300-in-5-sessions-after-google-unveils-willow-chip-but-analysts-urge-caution-not-every-tiktok-guitarist-is-the-next-taylor-swift">Quantum Computing, Rigetti, D-Wave Skyrocket Up To 300% In 5 Sessions After Google Unveils Willow Chip, But Analysts Urge Caution: &#8216;Not Every TikTok Guitarist Is The Next Taylor Swift&#8217;</a></li>
</ul>
Photo courtesy: Federal Reserve

Analyst Color

Hawkish Powell Aside, This Analyst Expects 4 Fed Rate Cuts In 2025: Here's Why

Biotech

Large Cap

Health Care

GSK Announced Headline Results From FIRST-ENGOT-OV44 Phase 3 Trial Of Zejula (Niraparib) And Jemperli (Dostarlimab) In First Line Advanced Ovarian Cancer, The Trial Met Its Primary Endpoint Of Progression-free Survival, The Key Secondary Endpoint Of Overall Survival Did Not Meet Statistical Significance

<h3>Companies Reporting Before The Bell</h3>
• CSP (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSPI#NASDAQ">CSPI</a>) is likely to report earnings for its fourth quarter. 
• Winnebago Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WGO#NYSE">WGO</a>) is estimated to report quarterly earnings at $1.18 per share on revenue of $789.00 million. 
<h3>Companies Reporting After The Bell</h3>
• Xcel Brands (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XELB#NASDAQ">XELB</a>) is projected to report quarterly loss at $0.11 per share on revenue of $1.60 million. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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