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Unusual Machines Inc is a development stage technology company.

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Donald Trump Jr. is an advisor and investor in GrabAGun, a gun ecommerce company going public via SPAC merger.

Trump Jr. Partners With GrabAGun: What Investors Should Know About E-Commerce Company Set To Trade As &#39;PEW&#39;

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UMAC stock surged 375% after adding Donald Trump Jr to advisory board. The company&#39;s entering military drone components could generate 98% revenue growth.

Unusual Machines Revenue Could Double In 2025 Under Trump Administration, Says Analyst

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Dollar Index and stock futures fall in premarket trading, global economy and markets will be influenced by data and central bankers this week.

US Stocks To Edge Lower After Thanksgiving As Investors Await Data: Analyst Expects A Santa Rally Thanks To &#39;Goldilocks Foundation&#39; For Big Tech And Tesla Going Into 2025

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Two Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) whale investors, inactive for six years, were suspected of booking hundreds of millions in profits by selling the second-largest cryptocurrency just before the big market crash on Sunday.
What Happened: The two wallets deposited 135,548 ETH, worth $399 million, to&nbsp;cryptocurrency exchange Bitfinex&nbsp;eight hours before the overnight crash, according to on-chain tracker Spot On Chain. The wallets originally withdrew ETH at just $153.65 on Jan. 5, 2019, when the stash was worth $20.8 million.
It wasn&#8217;t immediately clear whether the investors offloaded the entire stockpile. But if they did, they&#8217;d be netting a profit of $378.3 million. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Two dormant Ethereum whale wallets just woke up after 6 years and deposited 135,548 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> ($399M) to <a href="https://twitter.com/hashtag/Bitfinex?src=hash&amp;ref_src=twsrc%5Etfw">#Bitfinex</a> 8 hours—just before the market crash! These wallets originally withdrew <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> at just $153.65 (then $20.8M) on Jan 5, 2019. If they truly bought then and sold now,… <a href="https://t.co/j2RqIZFw0a">pic.twitter.com/j2RqIZFw0a</a>
&mdash; Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1886253982869565593?ref_src=twsrc%5Etfw">February 3, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also:<a href="https://www.benzinga.com/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/25/02/43425216/elon-musk-supports-putting-treasury-department-operations-on-blockchain-to-fix-irregularities">Elon Musk Says Treasury Officials &#8216;Breaking The Law Every Hour&#8217; By Approving Fraudulent Payments — DOGE Lead Wants A Blockchain Fix</a>
The whale movement was not an isolated incident but rather a market-wide phenomena. Large Ether transactions worth more than $100,000 soared by 72.35% in the last 24 hours, <a href="https://app.intotheblock.com/">according </a>to IntoTheBlock.
Additionally, more than $320 million worth of Ether entered exchanges on a net basis, nearly tripling from the previous day. The sharp jump in deposits indicated potential sell-offs.
Why It Matters:&nbsp;The movement of these Ethereum wallets comes amid one of the biggest falls in the cryptocurrency market in recent memory. 
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) <a href="https://www.benzinga.com/25/02/43425613/bitcoin-crashes-below-92000-ethereum-dogecoin-slump-as-trumps-tariff-war-spooks-investors-analyst">crashed below $92,000</a>&nbsp;for the first time since January 13, while Ethereum sank to a nearly 3-month low. Cryptocurrency liquidations topped $2 billion in the last 24 hours, the worst single-day liquidation event for the market.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">In the past 24 hours, over $2.16 billion across the crypto market was liquidated. This was the single-largest liquidation event in the history of these markets—beating COVID and FTX. Insane. <a href="https://t.co/Vwi3fvyjMi">pic.twitter.com/Vwi3fvyjMi</a>
&mdash; Joe Consorti &#x26a1;&#xFE0F; (@JoeConsorti) <a href="https://twitter.com/JoeConsorti/status/1886257605548396692?ref_src=twsrc%5Etfw">February 3, 2025</a></blockquote>
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Price Action: At the time of writing, Ethereum was exchanging hands at $2,580.72. down 16.46% 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;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43423466/how-does-pete-hegseth-feel-about-bitcoin-his-financial-filings-reveal-the-answer">How Does Pete Hegseth Feel About Bitcoin? His Financial Filings Reveal The Answer</a></li>
</ul>
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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Ethereum Whales Awake After Six Years, Score $378 Million Potential Profit Hours Before Market Crash

<h3>Companies Reporting Before The Bell</h3>
• Tyson Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) is projected to report quarterly earnings at $0.88 per share on revenue of $13.46 billion. 
• Saia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAIA#NASDAQ">SAIA</a>) is projected to report quarterly earnings at $2.77 per share on revenue of $780.35 million. 
• Alliance Res Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARLP#NASDAQ">ARLP</a>) is likely to report quarterly earnings at $0.67 per share on revenue of $635.60 million. 
• Johnson Outdoors (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JOUT#NASDAQ">JOUT</a>) is estimated to report quarterly loss at $1.30 per share on revenue of $104.73 million. 
• Lavoro (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LVRO#NASDAQ">LVRO</a>) is estimated to report quarterly loss at $0.37 per share on revenue of $373.85 million. 
• NAPCO Security Techs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NSSC#NASDAQ">NSSC</a>) is estimated to report quarterly earnings at $0.34 per share on revenue of $49.88 million. 
• Twist Bioscience (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWST#NASDAQ">TWST</a>) is expected to report quarterly loss at $0.63 per share on revenue of $86.95 million. 
• IDEXX Laboratories (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDXX#NASDAQ">IDXX</a>) is estimated to report quarterly earnings at $2.40 per share on revenue of $936.68 million. 
<h3>Companies Reporting After The Bell</h3>
• BellRing Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRBR#NYSE">BRBR</a>) is expected to report quarterly earnings at $0.48 per share on revenue of $524.74 million. 
• New Jersey Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NJR#NYSE">NJR</a>) is estimated to report quarterly earnings at $1.06 per share on revenue of $468.00 million. 
• Cabot (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBT#NYSE">CBT</a>) is likely to report quarterly earnings at $1.77 per share on revenue of $997.10 million. 
• KKR Real Estate Finance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KREF#NYSE">KREF</a>) is likely to report quarterly loss at $0.07 per share on revenue of $34.78 million. 
• Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>) is estimated to report quarterly earnings at $2.49 per share on revenue of $813.57 million. 
• Kyndryl Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KD#NYSE">KD</a>) is expected to report quarterly earnings at $0.41 per share on revenue of $3.81 billion. 
• Everest Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EG#NYSE">EG</a>) is estimated to report quarterly loss at $17.08 per share on revenue of $3.93 billion. 
• Equity Residential (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQR#NYSE">EQR</a>) is likely to report quarterly earnings at $1.00 per share on revenue of $754.93 million. 
• Clorox (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>) is likely to report quarterly earnings at $1.40 per share on revenue of $1.63 billion. 
• J&amp;J Snack Foods (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JJSF#NASDAQ">JJSF</a>) is estimated to report quarterly earnings at $0.59 per share on revenue of $360.85 million. 
• Healthpeak Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOC#NYSE">DOC</a>) is likely to report quarterly earnings at $0.45 per share on revenue of $691.84 million. 
• Palantir Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) is expected to report quarterly earnings at $0.11 per share on revenue of $775.91 million. 
• MGIC Investment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTG#NYSE">MTG</a>) is expected to report quarterly earnings at $0.66 per share on revenue of $303.53 million. 
• AECOM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACM#NYSE">ACM</a>) is estimated to report quarterly earnings at $1.10 per share on revenue of $4.11 billion. 
• Capital Southwest (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSWC#NASDAQ">CSWC</a>) is likely to report quarterly earnings at $0.62 per share on revenue of $50.62 million. 
• Woodward (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>) is estimated to report quarterly earnings at $1.18 per share on revenue of $772.98 million. 
• Sun Country Airlines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNCY#NASDAQ">SNCY</a>) is estimated to report quarterly earnings at $0.20 per share on revenue of $258.04 million. 
• Flexsteel Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLXS#NASDAQ">FLXS</a>) is estimated to report quarterly earnings at $0.74 per share on revenue of $104.61 million. 
• RBB Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RBB#NASDAQ">RBB</a>) is expected to report quarterly earnings at $0.36 per share on revenue of $28.12 million. 
• NXP Semiconductors (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>) is likely to report quarterly earnings at $3.13 per share on revenue of $3.10 billion. 
• Kforce (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KFRC#NYSE">KFRC</a>) is projected to report quarterly earnings at $0.59 per share on revenue of $341.43 million. 
• Rambus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>) is expected to report quarterly earnings at $0.47 per share on revenue of $160.29 million. 
• NewMarket (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEU#NYSE">NEU</a>) is estimated to report earnings for its fourth quarter. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Earnings Scheduled For February 3, 2025

The combination brings together the best of both companies to accelerate growth, improve profitability and serve customers all over the world from operations in more than 30 countries. Together with DS Smith, International Paper will be a great place to work with colleagues who value excellence, ethics and safety above all else.
"With a stronger portfolio of sustainable packaging solutions, the combination of International Paper and DS Smith enhances our offerings, increases innovation and expands our geographic reach," said Andy Silvernail, International Paper Chairman and Chief Executive Officer. "We will bring together the capabilities and expertise of two experienced teams, with similar cultures to create the global leader in sustainable packaging solutions."

DITHF

International Paper And DS Smith Merge To Form Global Leader In Sustainable Packaging

Former <a href="https://www.benzinga.com/topic/yanis-varoufakis">Greek Finance Minister</a> Yanis Varoufakis warns that the TikTok ban controversy in the United States exposes a deeper issue: the concentration of power among tech platform owners who function as &#8220;techno-feudal lords&#8221; over social media users.
What Happened: &#8220;There is no stopping a form of economic activity which concentrates so much direct power in the hands of so few people, over our thoughts, our minds,&#8221; Varoufakis <a href="https://www.abc.net.au/news/2025-02-01/social-media-hunger-games-technofeudalism-control/104877888?utm_source=abc_news_app&amp;utm_medium=content_shared&amp;utm_campaign=abc_news_app&amp;utm_content=mail">told</a> ABC News, arguing that Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) poses similar concerns as TikTok. &#8220;Do not fall into the trap of thinking that there is a good techno-feudal lord.&#8221;
Varoufakis is also a game theory expert who tried to use strategic brinkmanship to negotiate Greece's bailout during its 2015 financial crisis.
Varoufakis advocates for &#8220;interoperability&#8221; regulations that would allow users to transfer their followers between platforms, similar to phone number portability between carriers. This approach, he argues, &#8220;would reduce the switching costs and would deal a major blow at the exorbitant power of platform owners.&#8221;
His concerns come as major tech figures, including Tesla Inc. CEO Elon Musk and Meta&#8217;s Mark Zuckerberg, maintain close ties with political leadership. &#8220;What they want from a president — and they don&#8217;t give a damn whether it&#8217;s [Donald] Trump or anyone else — is to get the federal government off their back,&#8221; Varoufakis said.
See Also: <a href="https://www.benzinga.com/25/02/43426284/palantir-technologies-pre-earnings-plunge-tariff-impact-or-investor-jitters-heres-what-technical-analysis-suggests">Palantir Technologies Plunges Overnight On Robinhood: Trump Tariff Impact Or Investor Jitters?</a>
Why It Matters: The ongoing TikTok situation, which could force ByteDance into a joint <a href="https://www.benzinga.com/25/01/43230011/meta-leverages-tiktok-ban-threats-to-boost-instagram-offering-creators-cash-deals">venture worth up to $50 billion</a> according to Wedbush Securities analyst Dan Ives, exemplifies this power dynamic. Potential buyers include Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) Chairman Larry Ellison, and a consortium led by YouTube star MrBeast offering over $20 billion.
Meanwhile, Meta is capitalizing on TikTok&#8217;s uncertainty by offering <a href="https://www.benzinga.com/25/01/43230011/meta-leverages-tiktok-ban-threats-to-boost-instagram-offering-creators-cash-deals">creators up to $50,000 monthly</a> to shift to Instagram Reels, highlighting the platform owners&#8217; ability to reshape the social media landscape. The company has invested over $2 billion in creator payments in 2024 alone.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/02/43425232/gary-black-warns-teslas-18-export-volume-at-risk-amid-trump-tariffs-full-scale-retaliatory-trade-war-possible">Gary Black Warns Tesla&#8217;s 18% Export Volume At Risk Amid Trump Tariffs: &#8216;Full-Scale Retaliatory Trade War&#8217; Possible</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.

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ORCL

TSLA

TikTok Ban Exposes 'Techno-Feudal' Power: Influencers With Massive Following Should Be Able To Carry Followers Across Platforms, Says Economist

VAALCO Energy Marks Major Step In Côte d'Ivoire Offshore Project, FPSO Set For Dubai Refurbishment

Arthur J. Gallagher & Co. Acquires W K Webster, Expands Marine Claims Services

CenterPoint Energy Houston Electric's enhanced Systemwide Resiliency Plan (SRP) expected to reduce outage impacts due to extreme weather and storms by&nbsp;1.3 billion minutes into 2029
100% of lines serving the most customers will have automation devices capable of self-healing; 99% of substations will be raised above the 500-year flood plain, more than 50% of CenterPoint's electric system will be undergrounded; and replace or install 130,000 stronger, more storm-resilient poles and braces&nbsp;
The 2026-2028 SRP will be the largest single resiliency investment in CenterPoint history and will help address the impact of a wide range of extreme weather&nbsp;and other threats

Reported Friday, CenterPoint Energy Unveils Multi-Year Resiliency Plan To Strengthen Houston Grid And Cut 1.3B Outage Minutes By 2029

Company will build production facility in Florida and add approximately 300 jobs to support strategic missile modernization

Contracts

Reported Friday, LMT Secures $383M U.S. Navy Contract For Trident II D5 Missile Modernization And New Florida Facility

ANVS

Reported Friday, Annovis Bio Proposed Public Offering Of Common Stock And Warrants

Reported Friday, Li Auto's January 2025 Delivery Update: Delivered 29,927 Vehicles, Cumulative Deliveries Reach 1,163,799

<ul>
<li>30,350 units delivered in January 2025, up 268% year-over-year</li>
<li>Monthly deliveries exceeded 30,000 units for the third consecutive month</li>
</ul>

XPEV

Reported Friday, XPENG's January 2025 Delivery Update: Delivered 30,350 Vehicles, Up 268% YoY

WTRG

Reported Friday, Essential Utilities' Aqua Pennsylvania Acquires Greenville Sanitary Authority Wastewater System For $18M, Plans $20M In Upgrades

Chinese EV giant BYD Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) sold 296,446 new energy passenger vehicles in January, marking a jump of nearly 47.5% from last year, thanks to a major jump in plug-in hybrid passenger vehicle sales, the company said on Sunday.
What Happened:&nbsp;Pure passenger EV (battery electric vehicle) sales of the Chinese player rose to 125,377 in January, marking a rise of 19% from the corresponding month of last year.
Plug-in hybrid passenger vehicle sales in the period rose 79% to 171,069 units.
The company also sold 4,092 commercial vehicles in January, including 286 buses.
Why It Matters:&nbsp;BYD is the biggest rival to American EV giant&nbsp;Tesla.
The company first&nbsp;<a href="https://www.benzinga.com/news/24/01/36839203/warren-buffett-backed-byd-sees-higher-profits-for-fy23-after-taking-over-tesla-as-biggest-ev-seller" target="_blank" rel="noreferrer noopener">took over Tesla</a>&nbsp;as the world's largest BEV seller in the fourth quarter of 2023. However, Tesla took back the crown in the first quarter of 2024 and held on to it for three consecutive quarters until the last quarter of 2024. 
Tesla reported in January that it delivered&nbsp;<a href="https://www.benzinga.com/trading-ideas/movers/25/01/42766117/tesla-stock-tumbles-on-q4-deliveries-whats-going-on" target="_blank" rel="noreferrer noopener">495,570 BEVs in the three months</a>&nbsp;through the end of December, significantly lower than the 595,413 BEVs&nbsp;<a href="https://www.benzinga.com/25/01/42758760/tesla-rival-byd-marks-50-growth-in-december-passenger-vehicle-sales-likely-to-trump-tesla-in-q4-bev-sales-yet-again" target="_blank" rel="noreferrer noopener">sold by BYD</a>&nbsp;in the period.
However, for the whole year, <a href="https://www.benzinga.com/25/01/42780142/chinese-player-byd-overtakes-tesla-yet-again-as-worlds-biggest-ev-seller-in-q4">Tesla delivered 1,789,226 BEVs</a>, retaining its position as the bestselling pure EV brand for the year, despite a year-over-year drop in deliveries of 1.1%. BYD, meanwhile, managed to deliver only 1,764,992 BEVs in the twelve months, or 24,234 units less than Tesla.
BYD, however, makes plug-in hybrids too, unlike Tesla which makes solely battery electric vehicles. 
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/tech/25/01/43380849/toyota-retains-top-selling-automaker-position-while-continuing-to-trail-tesla-byd-in-ev-sales" target="_blank" rel="noreferrer noopener">Toyota Retains Top-Selling Automaker Position While Continuing to Trail Tesla, BYD In EV Sales</a></li>
</ul>
Photo courtesy: Shutterstock

Tech

BYDDY

Tesla Rival BYD Marks 47.5% Growth In January Passenger Vehicle Sales Driven By Popularity Of Plug-In Hybrid EVs

<ul>
<li>13,863 vehicles were delivered in January 2025,&nbsp;increasing by 37.9% year-over-year</li>
<li>Cumulative deliveries reached 685,427 as of January 31, 2025</li>
</ul>

Reported Saturday, NIO's January 2025 Delivery Update: Delivered 13,863 Vehicles, Up 37.9%

Reported Saturday, ZEEKR Delivered 11,942 Vehicles In January, Cumulative Deliveries Reach 430,698

<ul>
<li>Total sales increased 15%; best January ever</li>
<li>Electrified sales up 41%; HEV sales jump 74%; EV sales Increased 15%</li>
<li>Best January ever model results for IONIQ 5, IONIQ 6, Tucson HEV, and Santa Fe HEV</li>
</ul>

HYMTF

Reported Saturday, Hyundai Motor America Achieves Record January Sales of 54,503 Units (+15% YoY), HEV Sales +74%, Electrified Sales +41%

Collaboration will define and drive global energy efficiency through advanced digital solutions

EPAM

Reported Saturday, EPAM And Baker Hughes Partner To Drive AI-Powered Digital Transformation In The Energy Sector

President Donald Trump imposed tariffs on the U.S.&#8217;s three largest trading partners — Canada, China, and Mexico — over the weekend. Economists have warned about potential negative impacts on American businesses and consumers. However, this economist argues that these tariffs could serve as a tool for transitioning the U.S. economy.
What Happened: Craig Shapiro, a macro strategist at the Bear Traps Report, outlined a bold hypothesis about the role of tariffs in reshaping America's economic future in a recent X post.
His argument centers around the concept of transitioning the U.S. from a high-time preference society, which according to him is focused on short-term gains and immediate profit maximization—to a more sustainable, low-time preference model.
A high-time preference is when someone is more likely to choose immediate gratification over future benefits. This shift, according to Shapiro, is crucial for the health and long-term prosperity of the United States and to bring back manufacturing in the country. 
According to him, tariffs are &#8220;a way to reduce wealth inequality from Wall Street to Main Street which is necessary to have a functioning society in the future.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Hypothesis: Tariffs are a tool to transition America back from its high time preference societal disaster to a more sustainable low time preference future. The US economy and financial markets have increasingly become a high time preference disaster, focused incessantly on…
&mdash; Craig Shapiro (@ces921) <a href="https://twitter.com/ces921/status/1886037535283143162?ref_src=twsrc%5Etfw">February 2, 2025</a></blockquote>
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Shapiro argues that the current state of the U.S. economy and financial markets is unsustainable, driven by an obsession with short-term results. This focus, he suggests, has been exacerbated by the government&#8217;s continuous money printing and ballooning deficits, leading to an imbalance in the economy. 
He warns that unless a major shift occurs, the country could face a &#8220;violent fourth turning,&#8221; a crisis that could permanently alter the fabric of American society.
See Also: <a href="https://www.benzinga.com/news/25/01/43388482/after-imposing-tariffs-on-canada-donald-trump-threatens-100-levy-on-brics-for-move-against-dollar-ho" target="_blank" rel="noreferrer noopener">After Imposing Tariffs On Canada, Donald Trump Threatens 100% Levy On BRICS For Move Against Dollar: ‘How Will US Manage Production From Slippers To Ships?,' Asks Expert</a>
Why It Matters: According to Shapiro, the key to averting such a crisis lies in the use of tariffs, particularly as a tool to address structural economic issues. He contends that the Trump administration by levying tariffs, in its second term can bring manufacturing jobs back to the country, reestablish a more balanced economy, and gradually address the wealth disparity that has come to define modern American society.
"They (tariffs) will begin to turn back the wealth inequality dial in favor of the 99% over the 1% and bring structural change that will eventually lead us to a better place."
He also acknowledged that the process will be difficult and may disrupt markets in the short term, he believes it is vital for rebalancing the economy. He argues that asset prices, particularly in the stock market, need to fall to reduce inflation and address the unequal distribution of wealth. In doing so, the economic benefits would be spread more evenly across society, allowing for a healthier, more equitable system.
"The folks around Trump this time around—Bessent, Miran, Lutnick, Rubio, and others—seem to understand that this time has to be different," Shapiro adds, referring to the president's advisers and supporters in the second term. &#8220;And so it will be.&#8221;
Tariff Details: The newly introduced tariffs on a third of U.S. imports, plus a 10% levy on Chinese goods, begin Tuesday, potentially driving up prices from agriculture to automobiles. The U.S. Chamber of Commerce has warned of supply chain disruptions and higher family costs, citing concerns over trade with Mexico worth $46 billion in agricultural products, and Canada valued at $97 billion in energy supplied.
Price Action: The exchange-traded fund tracking the S&amp;P 500 index, SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) closed 0.53% lower at $601.82 on Friday, whereas Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) tracking Nasdaq 100 declined 0.15% to $522.29.
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Photo courtesy: Shutterstock

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