A benign December inflation report was all it took to ignite another strong rally on Wall Street, with major indices delivering their best weekly performance since the post-election <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43064144/wall-street-roars-ahead-of-trumps-inauguration-intel-rallies-bitcoin-tops-105000-whats-driving-markets-friday">surge in early November.</a>



Heading into the week, markets were gripped by concerns over inflation and interest rates, pricing in just one rate cut by year-end while the 30-year Treasury <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42990155/5-yields-fuel-demand-treasury-etfs-despite-bond-market-pain-relief-rally">yield hovered around 5%.</a>



Fresh data showed inflation rising for the third straight month up to 2.9%, yet right in line with forecasts. A softer core reading — excluding food and energy — gave traders hope that the Fed might cut rates at <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43003047/stocks-rise-on-core-inflation-slowdown-banks-rally-after-strong-q4-earnings-treasury-yields-plummet">least twice this year.</a>



Adding fuel to the bull run, major banks kicked off the fourth-quarter 2024 earnings season with blowout results.



Financial stocks — as tracked by the Financials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) — jumped 6% for the week, their best <a href="https://www.benzinga.com/news/earnings/25/01/43007354/big-banks-crush-q4-earnings-forecasts-financial-stocks-set-for-biggest-1-day-rally-since-trumps-election">rally since October 2023.</a> Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) led the charge among big players, surging 11% to hit record highs.



In commodities, oil briefly touched $80 per barrel before retreating after the approval of a ceasefire deal in Gaza <a href="https://www.benzinga.com/news/global/25/01/43055426/oil-dips-as-israeli-security-cabinet-approves-gaza-ceasefire-yet-experts-warn-red-sea-risks-persist">between Israel and Hamas.</a>



In cryptocurrency markets, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) continues to defy gravity, surpassing $100,000, fueled by optimism over crypto-friendly policies under the incoming Donald Trump administration.



Trump will officially take office as the 47th U.S. president on Monday.



You might have missed&#8230;



<h1 class="wp-block-heading">Bessent&#8217;s Economic Vision</h1>



Scott Bessent, Trump's Treasury secretary nominee, laid out his economic agenda before the Senate, emphasizing tax cuts, deregulation, energy expansion and tougher trade policies — particularly targeting <a href="https://www.benzinga.com/government/regulations/25/01/43041207/5-things-investors-need-to-know-about-scott-bessents-economic-policies-as-he-faces-senate-grilling-for-treasury-job">China, Russia and Iran.</a>



<h1 class="wp-block-heading">Bitcoin Reserve Talks</h1>



Reports suggest Trump is open to the idea of a U.S. strategic Bitcoin reserve, a move that could reshape fiscal policy and <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43035888/donald-trump-reportedly-open-to-us-crypto-reserve-as-bitcoin-reserve-chatter-gathers-steam">spark industrywide debate.</a>



<h1 class="wp-block-heading">Detroit EV Surge</h1>



Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) and General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) reported a sharp rise in electric vehicle sales, with the Mustang Mach-E and Cadillac Lyriq emerging <a href="https://www.benzinga.com/trading-ideas/25/01/42978236/us-electric-vehicle-sales-hit-record-1-3-million-units-in-2024-despite-tesla-declines-top-10-bestselling-models-list">as top sellers in 2024.</a>



<h1 class="wp-block-heading">TikTok Ban Upheld</h1>



The U.S. Supreme Court upheld a law forcing ByteDance to sell the TikTok app by Jan. 19 <a href="https://www.benzinga.com/general/social-media/25/01/43060894/supreme-court-upholds-tiktok-ban-ahead-of-trumps-inauguration">over national security concerns.</a> Trump could attempt to roll back the <a href="https://www.benzinga.com/general/social-media/25/01/43018125/trump-considers-executive-order-to-save-tiktok-from-being-banned-in-4-days">ban after taking office.</a>



Read Now: 



<ul>
<li><a href="https://www.benzinga.com/25/01/43062563/imf-lifts-us-growth-outlook-betting-markets-raise-odds-on-trump-led-economic-boom">IMF Lifts US Growth Outlook, Betting Markets Raise Odds On Trump-Led Economic Boom</a></li>
</ul>



Photo: Shutterstock

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$BTC

Wall Street Rallies As Inflation Fears Recede, Banks Smash Earnings, Bitcoin Reclaims $100,000: This Week In The Markets

Each week,&nbsp;Benzinga&#8217;s Stock Whisper Index&nbsp;uses a combination of proprietary data and pattern recognition to showcase five stocks that are just under the&nbsp;<a href="https://www.benzinga.com/topic/stock-whisper-index" target="_blank" rel="noreferrer noopener">surface and deserve attention</a>.



Investors are constantly on the hunt for undervalued, under-followed and emerging stocks. With countless methods available to retail traders, the challenge often lies in sifting through the abundance of information to uncover new opportunities and understand why certain stocks should be of interest.



Read Also:&nbsp;<a href="https://www.benzinga.com/trading-ideas/25/01/42802731/exclusive-top-20-most-searched-tickers-on-benzinga-pro-in-2024-where-do-tesla-nvidia-gamestop-trump-media-stocks-rank" target="_blank" rel="noreferrer noopener">EXCLUSIVE: Top 20 Most-Searched Tickers On Benzinga Pro In 2024 — Where Do Tesla, Nvidia, GameStop, Trump Media Stocks Rank?</a>



Here's a look at the Benzinga Stock Whisper Index for the week ending Jan. 17:



Applovin Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>): The mobile app technology company was one of the top-performing stocks in 2024 with shares up over 700%. The stock is following up the strong year with a surge in the early days of 2025 and momentum led by<a href="https://www.benzinga.com/quote/APP/analyst-ratings"> several analyst ratings</a> in January. Wells Fargo maintained an Overweight rating and raised the price target from $360 to $366. Benchmark initiated coverage on the stock with a Buy rating and $375 price target. JPMorgan maintained a Neutral rating and raised the price target from $200 to $325. Jefferies maintained a Buy rating and raised the price target from $400 to $425. The company will report fourth-quarter financial results on Feb. 12, which could be an early indictor of how investors feel about the company's future growth. Analysts expect earnings per share to hit $1.24, up from $0.49 in last year's fourth quarter and revenue to hit $1.26 billion, up from $953.2 million in last year's fourth quarter. The company has beaten analyst estimates for earnings per share in six straight quarters and revenue estimates in seven of the last eight quarters.



The stock was up nearly 10% over the last five days, as shown on the <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent011725&amp;t=be2bearmibe3na1">Benzinga Pro chart</a> below.



<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent011725&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="997" height="501" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/17144233/Screenshot-300.png" alt="" class="wp-image-739889" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/17144233/Screenshot-300.png 997w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/17144233/Screenshot-300-300x151.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/17144233/Screenshot-300-768x386.png 768w" sizes="(max-width: 997px) 100vw, 997px" /></a></figure>



Quantum Computing Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QUBT#NASDAQ">QUBT</a>): One of the hottest sectors in 2024 and early 2025 for investors has <a href="https://www.benzinga.com/tech/25/01/42879725/nvidia-ceo-sends-quantum-stocks-lower-poll-finds-over-50-pick-rigetti-or-skip-for-2025">been quantum computing</a>. After a strong performance in 2024, Quantum Computing Inc saw shares fall on comments from NVIDIA CEO Jensen Huang and a short report. The Capybara Research <a href="https://www.benzinga.com/markets/equities/25/01/43052999/quantum-computing-stock-drops-over-3-during-friday-premarket-amid-fraud-allegations">alleges </a>Quantum Computing is using misleading press releases that exaggerate the company's businesses.



"Quantum Deception. QUBT Is a rampant fraud. We are short and think shareholders will be left with nothing when all is done," Capybara Research said.



Huang sent shares of stocks in the sector lower recently when he said that quantum computing applications could be 20 years away. Nvidia later announced its <a href="https://www.benzinga.com/news/25/01/43001201/nvidia-announces-first-ever-quantum-day-at-gtc-2025-days-after-jensen-huang-said-quantum-computing-is-20-years-away">first-ever quantum computing day</a> and a Microsoft executive<a href="https://www.benzinga.com/markets/equities/25/01/42998134/qubt-qbts-up-12-rgti-gains-3-in-wednesday-premarket-quantum-computing-stocks-gain-momentum-after-microsoft-says-we-are-right-on-the-cusp-of-seeing-quantum-computers-solve-meaningful-problems"> shared positive commentary</a> on businesses preparing to be "quantum ready" by 2025.



In a recent Benzinga reader poll, Quantum Computing ranked second among four stocks in the sector that investors would most want to buy for 2025 with 24% of the vote. Beating Quantum Computing was Rigetti Computing Inc. with 33% of the vote.



<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent011725&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="999" height="502" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/17144253/Screenshot-301.png" alt="" class="wp-image-739890" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/17144253/Screenshot-301.png 999w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/17144253/Screenshot-301-300x151.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/17144253/Screenshot-301-768x386.png 768w" sizes="(max-width: 999px) 100vw, 999px" /></a></figure>



Coinbase Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>): Interest in Coinbase is surging over the last week and it could be related to company announcements and<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42981650/why-cryptos-election-spending-spree-signals-a-push-for-regulatory-overhaul"> the pending inauguration</a> of President-elect Donald Trump on Jan. 20. Coinbase <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43028215/coinbase-launches-bitcoin-backed-loans-for-us-users">announced new</a> Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) loans where users can borrow up to $100,000 USDC (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>) and access cash without having to sell their cryptocurrency. Coinbase and other cryptocurrency-related companies could benefit from the new White House administration with Trump indicating that he could make Bitcoin <a href="https://www.benzinga.com/25/01/43047039/trump-planning-to-declare-cryptocurrency-as-national-priority-increase-engagement-with-industry-report">a national priority</a> and create a strategic reserve. The price of Bitcoin is trading higher ahead of Trump's inauguration and Coinbase shares are up over 20% in the last five days.



<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent011725&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="999" height="505" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/17144309/Screenshot-302.png" alt="" class="wp-image-739891" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/17144309/Screenshot-302.png 999w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/17144309/Screenshot-302-300x152.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/17144309/Screenshot-302-768x388.png 768w" sizes="(max-width: 999px) 100vw, 999px" /></a></figure>



Sprouts Farmers Market (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFM#NASDAQ">SFM</a>): The specialty grocery retailer returns to the Stock Market Index after an appearance <a href="https://www.benzinga.com/trading-ideas/24/11/41856335/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-42">back in November</a>. The company, which has over 400 stores in 23 states, will report fourth-quarter financial results likely in February. Analysts expect the company to show earnings per share and revenue growth on a year-over-year basis. The company has beaten analyst estimates for both earnings per share and revenue in three straight quarters. Investors may be looking to the specialty retailer as Robert F. Kennedy Jr. could become the next leader of the Department of Health and Human Services under Trump's administration. Kennedy could push for healthier food options for consumers, which could benefit retailers specializing in healthy food options like Sprouts.



<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent011725&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="999" height="502" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/17144324/Screenshot-303.png" alt="" class="wp-image-739892" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/17144324/Screenshot-303.png 999w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/17144324/Screenshot-303-300x151.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/17144324/Screenshot-303-768x386.png 768w" sizes="(max-width: 999px) 100vw, 999px" /></a></figure>



Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>): The media company saw strong interest from readers during the week, which comes as the company has some good news and could also be on watch as an enemy of Trump. Comcast broadcast one of the opening round games of the 2024 NFL Playoffs with the match between the Washington Commanders and Tampa Bay Buccaneers <a href="https://www.benzinga.com/general/sports/25/01/43013529/amazon-scores-record-with-steelers-ravens-nfl-playoffs-stream-how-game-stacks-up-with-other-media-streamers">having an average</a> of 29 million viewers. Comcast will also air the second-round matchup of the Los Angeles Rams and Philadelphia Eagles on Sunday, Jan. 19 at 3 p.m. ET. Comcast and its stock could also be drawing attention with the <a href="https://www.benzinga.com/government/regulations/25/01/42798568/the-death-of-net-neutrality-winners-losers-and-what-it-means-for-the-future-of-the-interne">death of net neutrality</a>, which could benefit the company.



Comcast also caught the attention of Trump recently with the incoming president threatening the company after late-night talk show host Seth Meyers criticized him.



"Comcast should pay a BIG price," Trump said, as reported by <a href="https://deadline.com/2025/01/trump-seth-meyers-nbc-comcast-1236256452/">Deadline</a>.



Trump blasted Comcast previously and threatened to pull their FCC license. Trump's appointee to lead the FCC is Brendan Carr, who is considering challenging networks like Comcast's NBC for featuring Kamala Harris in a "Saturday Night Live" episode and not providing equal time to Trump.



<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent011725&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="995" height="505" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/17144340/Screenshot-304.png" alt="" class="wp-image-739894" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/17144340/Screenshot-304.png 995w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/17144340/Screenshot-304-300x152.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/17144340/Screenshot-304-768x390.png 768w" sizes="(max-width: 995px) 100vw, 995px" /></a></figure>



Stay tuned for next week&#8217;s report, and follow Benzinga Pro for all the latest headlines and&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent011725&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">top market-moving stories here.</a>



Read the latest Stock Whisper Index reports here:



<ul>
<li><a href="https://www.benzinga.com/trading-ideas/24/12/42628286/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-including-qubt-qbts" target="_blank" rel="noreferrer noopener">December 20</a></li>



<li><a href="https://www.benzinga.com/media/24/12/42709387/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet" target="_blank" rel="noreferrer noopener">December 27</a></li>



<li><a href="https://www.benzinga.com/25/01/42798998/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet" target="_blank" rel="noreferrer noopener">January 3</a></li>



<li><a href="https://www.benzinga.com/25/01/42927075/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">January 10</a></li>
</ul>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/01/43041374/exclusive-how-high-will-sp-500-go-under-donald-trump-in-2025-readers-are-optimistic-26-say-this">EXCLUSIVE: How High Will S&amp;P 500 Go Under Donald Trump In 2025? Readers Are Optimistic, 26% Say This…</a></li>
</ul>

Exclusives

$USDC

CMCSA

COIN

QUBT

Benzinga's 'Stock Whisper' Index: 5 Stocks Investors Secretly Monitor But Don't Talk About Yet

Prediction market traders on Polymarket are cautiously optimistic about immediate crypto-related action from President-elect Donald Trump <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43064144/wall-street-roars-ahead-of-trumps-inauguration-intel-rallies-bitcoin-tops-105000-whats-driving-markets-friday">on Inauguration Day</a>.



What Happened: Specifically, according to Polymarket <a href="https://polymarket.com/event/what-will-trump-say-during-inauguration-speech?tid=1737128695515">data</a>, the question of whether Trump will mention cryptocurrency or Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) in his inauguration speech on Monday is sitting at a 31% chance.



However, a separate Polymarket market, focusing on Trump's anticipated executive order on cryptocurrency within his first day, shows a contrasting picture, as it <a href="https://polymarket.com/event/trump-cryptocurrency-executive-order-on-day-1/trump-cryptocurrency-executive-order-on-day-1?tid=1737128770527">reflects</a> a 41% chance of it materializing.



This data, indicates a more positive outlook on the administration&#8217;s broader crypto policy.



This apparent contradiction highlights the uncertainty surrounding Trump's immediate crypto plans. 



While the data suggests the market is not confident an inauguration speech will discuss crypto, it believes there is a high chance of an executive order pertaining to crypto soon after. 



The contrasting data underscores a potential disconnect between immediate public messaging and the administration&#8217;s policy aims.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43059401/bitcoin-spikes-to-104000-traders-eye-130000-target-in-late-january">Bitcoin Spikes To $104,000, Traders Eye $130,000 Target In Late January</a>



Why It Matters: These dynamics are set against a backdrop of reports suggesting a major policy shift.



The incoming administration is reportedly planning an executive order declaring cryptocurrency a national priority and integrating industry <a href="https://www.benzinga.com/25/01/43047039/trump-planning-to-declare-cryptocurrency-as-national-priority-increase-engagement-with-industry-report">expertise into the administration</a>.



There is the potential of a directive for all federal agencies to review their policies on digital assets, and possibly halt any pending litigation related to cryptocurrency. 



There also are conversations on creating a <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43056350/maga-memecoin-leads-trump-meme-rally-as-strategic-bitcoin-reserve-speculation-intensifies">national Bitcoin reserve</a> with the government's existing holdings of the digital asset, which was a prominent campaign promise to attract support from the crypto community.



These reports have bolstered expectations for a <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43062518/2025-to-see-dogecoin-etf-strategic-bitcoin-reserve-microstrategy-of-ethereum-predicts-crypto-hedge-fund">more pro-crypto stance</a> from the Trump administration.



The president-elect&#8217;s crypto and AI czar, David Sacks, is reportedly collaborating with industry experts to develop a legislative agenda and address contentious laws like SAB 121, which restricts banks&#8217; ability to offer digital asset custody services.



The Biden administration faced criticism for what some saw as overregulation of digital assets. 



Trump's policies, on the other hand, are expected to focus on creating opportunities for innovation and adoption in the cryptocurrency space. 



A US crypto reserve, if implemented, could strengthen Bitcoin's position as a store of value and draw significant institutional investment.



Speaking with Benzinga, Marcin Kazmierczak, COO of Redstone, described the potential impact: "If this were to materialize, it would represent nothing short of Bitcoin reaching its ultimate endgame—the largest economy embracing the store-of-value narrative."



Trump's pro-crypto stance could also favor certain digital assets. 



Analysts expect Bitcoin, Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), Ripple (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), and even Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) to perform well under his administration due to their association with narratives of financial inclusion, institutional adoption, and retail enthusiasm. 



Aurelie Barthere, Principal Research Analyst at Nansen, added, "BTC, because of its &#8216;reserve currency&#8217; narrative, and assets like SOL or XRP with US affiliations, could thrive under Trump."



Read Next: 



<ul>
<li><a style="font-weight: bold;" href="https://www.benzinga.com/markets/cryptocurrency/25/01/43053129/bitcoin-miners-consolidate-power-12-firms-now-control-30-of-network-hash-rate">Bitcoin Miners Consolidate Power: 12 Firms Now Control 30% Of Network Hash Rate</a></li>
</ul>



Image: Unsplash

$DOGE

$SOL

$XRP

Donald Trump To Mention Bitcoin Or Crypto At Inauguration? Polymarket Traders Say There's A Chance

President Joe Biden prioritized <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">freeing non-violent drug offenders</a> during his final few days in the White House, but TikTok? That's President-elect Donald Trump's problem now. 



According to the <a href="https://apnews.com/article/tiktok-ban-trump-executive-order-1e95d9836bf6f8c0c245ed1c3234d968">Associated Press</a>, Biden has no intention of enforcing the ban, which takes effect on his last full day in office, Jan. 19, and one day <a href="https://www.benzinga.com/news/25/01/42995328/trump-inauguration-from-elon-musk-jeff-bezos-to-barack-obama-george-bush-and-bill-clinton-who-all-will-attend">before Trump&#8217;s inauguration</a>.



With a deadline looming, the app's fate lands in the hands of the so-called People's Bid for TikTok—backed by none other than Kevin O'Leary of &#8220;Shark Tank&#8221; and billionaire Frank McCourt. Apparently, TikTok's U.S. assets are still up for grabs, but no word yet on the price tag or whether a deal can realistically get done <a href="https://www.benzinga.com/general/social-media/25/01/43060894/supreme-court-upholds-tiktok-ban-ahead-of-trumps-inauguration">in a few days</a>.



<h2 class="wp-block-heading">Bankruptcy Block</h2>



Joann Inc. is stitching together a bankruptcy plan for the second time within 12 months. The Ohio-based fabric and crafts retailer is seeking a buyer for its portfolio of some 800 stores. 



Gordon Brothers Retail Partners emerged as the &#8220;stalking horse&#8221; bidder, but Joann remains hopeful for better offers—perhaps from someone who knows how to thread the needle.



Previously, the 82-year-old retailer was under the stewardship of private equity firm Leonard Green &amp; Partners, which acquired it via a $1.6 billion leveraged buyout in 2011. The firm buried the company under a pile of debt (<a href="https://wolfstreet.com/2024/03/18/brick-and-mortar-meltdown-fells-another-retailer-joann-inc-files-for-bankruptcy-3-years-after-ipo/">reportedly</a> $921 million in long-term debt as of Oct. 31, 2020) and <a href="https://www.benzinga.com/news/21/03/20048728/ipo-preview-roblox-coupang-joann-lead-busy-week-of-offerings">sent it public in 2021</a>. 



Joann went private again in <a href="https://apnews.com/article/joann-bankruptcy-chapter-11-filing-75093d4032907c59a45e472dd4e23229">March</a> 2024 while under Chapter 11 bankruptcy protection. The company managed to reduce its $1 billion total debt by about $500 million at the time.



Despite efforts to save itself last year, Joann is joining the growing quilt of recent retail casualties: Party City, Big Lots, LL Flooring, The Body Shop and The Container Store <a href="https://www.benzinga.com/news/legal/24/12/42710619/deal-dispatch-party-city-wraps-big-lots-goes-bust-container-store-continues">to name a few</a>.



Kirkland &amp; Ellis is handling legal matters, while Centerview Partners LLC offers financial advice. Alvarez &amp; Marsal North America, LLC is overseeing the restructuring process.



<h2 class="wp-block-heading">New On The Block</h2>



<ul>
<li>Investment firm KKR &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) hired Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) to run an auction for its minority stake in Philippine fintech company Maya, Reuters reported. </li>



<li>New York-headquartered KKR owns more than 20% of Maya and the potential sale, if it goes through, could value Maya at more than $2 billion, one of the sources said.</li>



<li>DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>) is looking to <a href="https://www.benzinga.com/news/large-cap/25/01/43028181/chemical-company-dupont-electronics-business-separation-retains-water-business">jettison its electronics business</a>. The Wilmington, Delaware-based company expects the transaction to be completed by Nov. 1. DuPont also decided to retain its water business after evaluating strategic alternatives.</li>



<li>Ingevity Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGVT#NYSE">NGVT</a>) is shopping its Performance Chemicals Industrial Specialties segment, which includes divesting parts of its North Charleston, South Carolina site. The company hopes to improve earnings cash flow and conclude the review process by year-end. Whether a transaction comes about <a href="https://www.benzinga.com/news/25/01/43027745/ingevity-explores-strategic-options-for-performance-chemicals-segment-to-strengthen-portfolio-projects-fy24-revenue-at-1-40-billion">remains to be seen</a>. </li>



<li>S&amp;W Seed Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SANW#NASDAQ">SANW</a>) is up for sale. It&#8217;s also considering a merger or recapitalization as part of a larger strategic review. The Longmont, Colorado-based company has already sold its Australia subsidiary. &#8220;We continue to support all initiatives that optimize shareholder value and will consider the full range of potential strategic alternatives to ensure S&amp;W Seed is best positioned for future success,&#8221; chairman Alan Willits said.</li>
</ul>



See Also: <a href="https://www.benzinga.com/25/01/43046722/starship-explodes-during-flight-test-elon-musk-says-success-is-uncertain-but-entertainment-is-guaranteed">Starship Explodes During Flight Test, Elon Musk Says: &#8216;Success Is Uncertain, But Entertainment Is Guaranteed!&#8217;</a>



<h2 class="wp-block-heading">Updates From The Block</h2>



<ul>
<li>Lourenco Goncalves raised eyebrows during a Monday press conference. According to <a href="https://www.bloomberg.com/news/articles/2025-01-14/cliffs-ceo-rips-evil-japan-and-doubles-down-on-america-first">Bloomberg</a>, the CEO of Cleveland-Cliffs Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) called Japan, a U.S. ally, &#8220;evil&#8221; and accused it of teaching China harmful practices like dumping and overproduction. His comments came as Cleveland-Cliffs eyes a new bid for U.S. Steel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>), following Biden&#8217;s decision to block Nippon Steel&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NPSCY#OTC">NPSCY</a>) <a href="https://www.benzinga.com/trading-ideas/movers/25/01/42787508/biden-blocks-14-9b-us-steel-takeover-shares-plunge">$14 billion acquisition attempt</a>. While positioning his company as a potential buyer, Goncalves&#8217; rhetoric escalated tensions within the steel industry. Nippon is now looking to Trump to <a href="https://www.benzinga.com/news/25/01/42994950/nippon-steel-eyes-trump-administration-to-revive-15b-us-steel-deal-blocked-by-biden-well-do-whatever-it-takes">help close the deal</a>. </li>



<li>T-Mobile (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) will buy Vistar Media for $600 million. The telecom company expects the deal to strengthen its advertising business, Reuters reported. </li>
</ul>



Deals in the biotech and pharmaceutical sectors piled up this week. Here&#8217;s a sample of Benzinga&#8217;s coverage:



<ul>
<li>Biogen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) submitted an unsolicited bid to acquire all of the outstanding shares of Sage Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAGE#NASDAQ">SAGE</a>) that it does not already own <a href="https://www.benzinga.com/25/01/42957657/biogens-push-for-sage-therapeutics-could-strengthen-its-neurology-strategy-analysts-say">for $7.22 per share</a>. Goldman Sachs analyst Salveen Richter believes the proposal makes strategic sense, considering the financial success of the Zurzuvae launch for postpartum depression (PPD).</li>



<li>GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>) <a href="https://www.benzinga.com/25/01/42950025/gsk-to-buy-us-based-stomach-cancer-drug-developer-for-over-1-billion">agreed to acquire</a> IDRx, Inc., a biopharmaceutical company focused on precision therapeutics for gastrointestinal stromal tumors (GIST), for $1 billion. The deal may require an additional $150 million from GSK after certain regulatory approval milestones. </li>



<li>Eli Lilly (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) scooped up Scorpion Therapeutics&#8217; early-stage <a href="https://www.benzinga.com/25/01/42949261/eli-lilly-scoops-up-scorpion-therapeutics-early-stage-cancer-program-for-25-billion">cancer program for $2.5 billion</a>. </li>



<li>Like Bristol-Myers Squibb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) and AbbVie Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>), Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) is seeking to bolster its neuropsychiatric portfolio<a href="https://www.benzinga.com/general/biotech/25/01/42948170/like-bristol-myers-squibb-and-abbvie-johnson-johnson-seeks-to-bolster-neuropsychiatric-portfolio-with-15-billion-deal"> with a $15 billion deal</a></li>



<li>Crown Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) offered to acquire all outstanding common shares of Revance Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RVNC#NASDAQ">RVNC</a>) at $3.10 per share.</li>



<li>Salarius Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLRX#NASDAQ">SLRX</a>) agreed to a deal with Decoy Therapeutics, a preclinical biotech focused on peptide conjugate therapeutics. The merged entity will target unmet needs in respiratory diseases and GI oncology.</li>



<li>Lantheus Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LNTH#NASDAQ">LNTH</a>) strengthens its radiopharmaceutical position with<a href="https://www.benzinga.com/m-a/25/01/42937565/lantheus-strengthens-radiopharmaceutical-leadership-with-350m-acquisition-of-life-molecular-imaging"> $350 million acquisition of Life Molecular Imaging</a>.</li>
</ul>



For last week&#8217;s edition of Deal Dispatch, <a href="https://www.benzinga.com/ma/25/01/42921113/deal-dispatch-td-bank-charles-schwab-eyenovia-smart-share-hit-auction-block">click here</a>.



Now Read:



<ul>
<li><a href="https://www.benzinga.com/real-estate/25/01/43055513/eccentric-billionaire-howard-hughes-former-miami-estate-on-market-for-55-5-million">Eccentric Billionaire, Legendary Filmmaker Howard Hughes&#8217; Former Miami Estate On Market For $55.5 Million</a></li>
</ul>



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Deal Dispatch: Biden Punts TikTok Ban To Trump, Plus Another Legacy Retailer Goes Bankrupt

A flurry of new data is in and the housing market is flashing mixed signals from builders, buyers and analysts. Here&#8217;s what <a href="https://www.benzinga.com/markets/bonds/25/01/42963973/housing-demand-falls-as-average-30-year-mortgage-rate-above-7">you need to know.</a>



The Data: The Census Bureau and the Department of Housing and Urban Development December<a href="https://www.census.gov/construction/nrc/current/index.html"> housing data</a> released Friday was mixed with housing starts beating expectations while housing completions declined. 



Housing starts jumped 15.8% in December to a seasonally adjusted annual rate of 1.499 million, surpassing the estimate of 1.33 million and rising sharply from November's revised rate of 1.294 million. However, privately-owned housing units authorized by building permits in December declined 0.7% from November's rate of 1.493 million and fell 3.1% compared to December 2023.



Meanwhile, housing completions fell 4.8% in December to 1.544 million, potentially signaling that builders face challenges in finishing projects. Annual housing completions in 2024 rose 12.3% to 1.627 million. 



Read Next: <a href="https://www.benzinga.com/general/health-care/25/01/43041254/unitedhealth-ceo-highlights-hospitals-doctors-pharmas-role-in-soaring-health-care-costs">UnitedHealth CEO Highlights Hospitals, Doctors, Pharma&#8217;s Role In Soaring Health Care Costs</a>&nbsp;



According to <a href="https://www.nahb.org/news-and-economics/housing-economics/indices/housing-market-index">data released</a> Thursday from the National Association of Home Builders and Wells Fargo, U.S. homebuilders lowered their six-month outlook on prospective sales as buyers are discouraged by rising mortgage rates which crossed over the 7% mark last week.&nbsp;



However, homebuilder sentiment rose in January on optimism about current sales and prospective buyer traffic. The survey also attributed the rise in sentiment to the anticipation of likely more favorable regulatory conditions under the incoming Trump administration. 



Expert Ideas: Analysts from JPMorgan said on Friday that the firm remains optimistic on housing spending, despite surging mortgage rates.&nbsp;



The analysts view consumers as in the "acceptance phase" when it comes to interest rates and expect existing home sales to grind modestly higher, up from 40-year lows.&nbsp;



"More specifically, we believe 30-year mortgage rates being in the high 6 range is ‘okay,'" JPMorgan analysts wrote.&nbsp;



Stocks To Watch: Investors can track the U.S. homebuilders and construction through the IShares U.S. Home Construction ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITB#BATS">ITB</a>) and the SPDR Series Trust SPDR Homebuilders ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XHB#NYSE">XHB</a>). 



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/25/01/43007213/experts-see-the-fed-on-hold-for-now-if-there-are-any-cuts-at-all-in-2025-after-decembers-sticky-consumer-inflation-report">Interest Rate Cuts &#8216;On Hold&#8230; If There Are Any At All In 2025&#8217; After December&#8217;s Sticky Consumer Inflation Report: Economists&nbsp;</a></li>
</ul>



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Housing Market: Builders Forge Ahead As Buyers Enter 'Acceptance Phase' On Rates

The U.S. Supreme Court has upheld a ruling that TikTok will be banned in the country unless parent company ByteDance sells off the American<a href="https://www.benzinga.com/general/social-media/25/01/43047973/tiktok-ban-decision-left-to-trump-by-biden-administration-what-this-means-for-170-million-us-users-and-big-tech"> portion of the business.</a>



What Happened: In a unanimous decision, the Supreme Court issued its ruling that TikTok is<a href="https://www.benzinga.com/24/12/42654769/tiktok-ban-under-trump-president-elect-wants-to-keep-months-after-pelosi-said-follow-the-money"> set to be banned</a> on Jan. 19, ending access to updates for the app for 170 million monthly American users.



"There is no doubt that, for more than 170 million Americans, TikTok offers a distinctive and expansive outlet for expression, means of engagement, and source of community. But Congress has determined that divestiture is necessary to address its well-supported national security concerns regarding TikTok's data collection practices and relationship with a foreign adversary," the written <a href="https://www.supremecourt.gov/opinions/24pdf/24-656_ca7d.pdf">ruling </a>said.



The Supreme Court ruled TikTok's argument that the ban would violate First Amendment rights was not valid.



The written ruling cites incoming President Donald Trump, who previously issued an Executive Order in August 2020 to have TikTok banned, "the spread in the United States on mobile applications developed and owned by companies in (China) continues to threaten the national security, foreign policy, and economy of the United States."



Under the Supreme Court's ruling, the pending ban of TikTok will see Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) and Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) forced to stop offering the TikTok app in its mobile app stores to American users or face fines.



Read Also: <a href="https://www.benzinga.com/general/sports/25/01/43032864/mark-cuban-says-tiktok-ban-wont-hurt-sports">Mark Cuban Says TikTok Ban Won&#8217;t Hurt Sports: Fans Can &#8216;Find the Same League Content Elsewhere&#8217;</a>



Why It's Important: The TikTok ban is set to happen on Sunday, one day before Trump will be inaugurated as president.



Trump, who previously supported a ban on TikTok, has since changed his tune and now supports keeping the app or delaying the ban. Trump is considering an executive order that could delay the ban, according to reports.



On Friday, Trump said he spoke to Chinese President Xi Jinping and TikTok was among the topics discussed.



"It is my expectation that we will solve many problems together, and starting immediately. We discussed balancing Trade, Fentanyl, TikTok, and many other subjects," Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/113844165549788304">said </a>in a post that was published before the Supreme Court announced its ruling.



The exiting Joe Biden administration is leaving the decision to ban TikTok up to Trump.



"Our position on this has been clear: TikTok should continue to operate under American ownership. Given the timing of when it goes into effect over a holiday weekend a day before the inauguration, it will be up to the next administration to implement," a White House spokesperson&nbsp;<a href="https://abcnews.go.com/Politics/biden-administration-leave-trump-implement-tiktok-ban/story?id=117753133" target="_blank" rel="noreferrer noopener">told</a>&nbsp;ABC News.



Trump has met with TikTok CEO Shou Chew at Mar-A-Lago and a report said Chew will<a href="https://www.benzinga.com/media/25/01/43047509/tiktok-ceo-shou-chew-to-join-trumps-inauguration-alongside-musk-bezos-and-zuckerberg-amid-looming-us-ban-report"> attend Trump's inauguration</a> on Monday.



Trump's meeting with Chew and talks with President Jinping could be among the reasons he has changed his mind about a TikTok ban.



Another reason for the potential reversal of his stance on TikTok&nbsp;<a href="https://www.benzinga.com/24/12/42654769/tiktok-ban-under-trump-president-elect-wants-to-keep-months-after-pelosi-said-follow-the-money" target="_blank" rel="noreferrer noopener">could be the support</a>&nbsp;of Republican megadonor&nbsp;Jeff Yass, who owns 15% of ByteDance.



A report from&nbsp;<a href="https://www.politico.com/news/2024/03/14/trump-tiktok-billionaire-donors-00146892" target="_blank" rel="noreferrer noopener">Politico&nbsp;</a>featured the potential of Trump looking for a way to benefit from opposing the TikTok ban.



"It's a mirror image of 2020," former technology company spokesperson&nbsp;Nu Wexler&nbsp;previously told Politico. "He tried to ban TikTok and then figured out that there was an out — that he could take care of a donor — and flipped on it."



&#8220;When it comes to Trump, follow the money," Rep. Nancy Pelosi (D-Calif.) told Politico of Trump's TikTok reversal.



Trump&nbsp;<a href="https://www.benzinga.com/news/24/03/37594839/enemy-of-the-people-trump-slams-meta-stock-as-tiktok-ban-faces-scrutiny" target="_blank" rel="noreferrer noopener">acknowledged in an interview</a>&nbsp;with CNBC he met with Yass but the two did not talk about TikTok or ByteDance.



While there have been several interested parties in buying the American TikTok division from ByteDance, the parent company has not indicated they will sell the division. ByteDance has also not indicated if they will end access to the app in America.



TikTok users who have already downloaded and use the app may continue to have access to the app, but will no longer get updates or receive security fixes if ByteDance keeps access to the app open.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/general/social-media/25/01/42957741/tiktok-ban-deadline-ahead-what-will-happen-to-app-on-your-phone">TikTok Ban Deadline Ahead: What Will Happen To App On Your Phone?</a></li>
</ul>



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Supreme Court Upholds TikTok Ban Ahead Of Trump's Inauguration: Necessary For 'Well-Supported National Security Concerns'

Risk appetite surged on Wall Street at the end of the week, with investors ramping up stock purchases ahead of Monday's market closure for Martin Luther King Day, which is also when Donald Trump will be sworn in as <a href="https://www.benzinga.com/topic/donald-trump">the 47th U.S. president.</a>



All major indices posted robust gains in midday trading, setting up for their strongest weekly performance since early November. Broad-based buying lifted every sector into the green, underscoring the strength of the rally.



Adding to the positive mood, the Israeli Security Cabinet approved a ceasefire deal with Hamas <a href="https://www.benzinga.com/news/global/25/01/43055426/oil-dips-as-israeli-security-cabinet-approves-gaza-ceasefire-yet-experts-warn-red-sea-risks-persist">in Gaza</a>, leaving final government approval as the last step before the agreement takes effect on Sunday.



Chipmaker Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) soared 8.9%, marking its biggest single-day jump since August 2024. The rally was fueled by rumors that the company could be a takeover target. 



Treasury yields edged higher but remained on track for steep weekly declines, following a softer-than-expected December inflation report that eased concerns over aggressive Federal Reserve policy.



The U.S. dollar rose 0.3% on Friday but is still slightly lower for the week, potentially snapping a six-week winning streak.



Gold prices steadied after Thursday's strong rally, while oil prices extended their decline as ceasefire efforts gained traction.



Cryptocurrency sentiment surged, driven by speculation that the incoming Trump administration could announce the creation of <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43062518/2025-to-see-dogecoin-etf-strategic-bitcoin-reserve-microstrategy-of-ethereum-predicts-crypto-hedge-fund">a Bitcoin Reserve Fund.</a> Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was up 5% to over $105,000. 



<h1 class="wp-block-heading">Friday&#8217;s Performance In Major U.S. Indices, ETFs</h1>



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Major Indices</td><td>Price</td><td>1-day % chg</td></tr><tr><td>Nasdaq 100</td><td>21,483.46</td><td>1.9%</td></tr><tr><td>S&amp;P 500</td><td>6,013.18</td><td>1.3%</td></tr><tr><td>Dow Jones</td><td>43,641.72</td><td>1.1%</td></tr><tr><td>Russell 2000</td><td>2,279.34</td><td>0.6%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated at 12:45 p.m. ET</figcaption></figure>



According to&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent011525&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>&nbsp;data:



<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 1.2% to $598.98.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 1.1% to $436.12.</li>



<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rallied 1.8% to $522.24.</li>



<li>The&nbsp;iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.7% to $226.01.</li>



<li>The&nbsp;Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up 1.8%; the&nbsp;Health Care Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) lagged, down 0.1%.</li>
</ul>



<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>



<ul>
<li>Truist Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>) rallied nearly 5% in reaction to stronger-than-expected quarterly results. </li>



<li>Other stocks reacting to earnings included Schlumberger N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>), up 7.9%; Fastenal Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FAST#NASDAQ">FAST</a>), up 0.64%; State Street Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>), down 3%; Huntington Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBAN#NASDAQ">HBAN</a>), up 0.39%; Regions Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RF#NYSE">RF</a>), down 0.86% and Citizens Financial Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>), up 1.8%.</li>
</ul>



Read Now: 



<ul>
<li><a href="https://www.benzinga.com/25/01/43062563/imf-lifts-us-growth-outlook-betting-markets-raise-odds-on-trump-led-economic-boom">IMF Lifts US Growth Outlook, Betting Markets Raise Odds On Trump-Led Economic Boom</a></li>
</ul>



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Wall Street Roars Ahead Of Trump's Inauguration, Intel Rallies, Bitcoin Tops $105,000: What's Driving Markets Friday?

Investors may be underestimating Donald Trump&#8216;s potential push for fiscal discipline, making long-term bonds and rate-sensitive sectors an attractive bet, according to Bank of America&#8217;s chief <a href="https://www.benzinga.com/topic/expert-ideas">investment strategist Michael Hartnett. </a>



In his flagship &#8216;The Flow Show&#8217; report published Friday, Hartnett shifted to a bullish stance on bonds, stressing that the yield spike seen in recent months has created an opportunity. 



&#8220;20-year corporate bonds now yielding 6.3%, pension funds would be looking to park some of those gains in bonds,&#8221; he said, recommending investors &#8220;buy long duration bonds.&#8221;



Hartnett indicated the case for duration bonds – as commonly tracked by the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) – is strengthening as U.S. government spending slows, the Federal Reserve keeps a cautious stance on inflation, and yields approach peak levels.



<h3 class="wp-block-heading">Is The Bond Bear Market Peaking?</h3>



The past two years have been brutal for fixed-income investors. 



Higher-for-longer interest rates and rising deficits crushed bond prices, and since the Federal Reserve's 100-basis-point interest rate cuts, bonds have remained the worst-performing asset class. 



Yet Hartnett sees the tide turning.



Historically, rolling 10-year returns from U.S. Treasuries have never been negative over the past 90 years. The market has reached what he calls the &#8220;peak in &#8216;anything but bonds&#8217; trade of the 2020s.&#8221;



The technical backdrop also suggests stabilization. The 30-year Treasury yield has hit a double top at 5%, a level Hartnett believes represents strong resistance.



If yields retreat toward 4%, a diversified low-risk bond portfolio—comprised of Treasuries, investment-grade debt, high-yield bonds, and emerging market credit—could generate 11%-12% annualized returns, Hartnett highlighted.



A higher-risk allocation, with greater exposure to junk bonds and preferred securities, could yield up to 15%.



<h3 class="wp-block-heading">Trump's Fiscal Shift </h3>



As Hartnett highlighted, the U.S. budget deficit has risen to $7.3 trillion, fueling a 50% surge in nominal GDP, with government spending contributing significantly to economic growth.



Yet, according to the expert with the Fed prioritizing inflation control and Trump likely pushing for spending cuts, deficits could shrink, reducing upward pressure on yields. 



&#8220;We say Trump&#8217;s need for &#8216;smaller government&#8217; = &#8216;twin peak&#8217; in 5% bond yields,&#8221; Hartnett said.



Scott Bessent, Trump's nominee for Treasury Secretary, made it clear during his Senate confirmation hearing on Thursday that tackling government spending <a href="https://www.benzinga.com/government/regulations/25/01/43041207/5-things-investors-need-to-know-about-scott-bessents-economic-policies-as-he-faces-senate-grilling-for-treasury-job">will be a top priority.</a>



&#8220;We have a spending problem,&#8221; he said, emphasizing the need for significant reductions in government outlays.



Bessent indicated runaway spending as a key reason he joined the Trump campaign, signaling his commitment to aggressive fiscal tightening. 



&#8220;One of the things that got me out from behind my desk and my quiet life in this campaign was the thought that this spending is out of control,&#8221; Bessent said.



<h3 class="wp-block-heading">The Bond Market's Attractive Risk-Reward Profile</h3>



At current levels, the bond market presents what Hartnett describes as a &#8220;very good&#8221; risk-reward profile. 



A scenario where yields drop 100 basis points (1 percentage point) could generate strong returns, while even a rise in yields may not severely dent total performance. 



With yields near 5%, the worst may be over for bonds, according to Hartnett&#8217;s calculations. 



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><thead><tr><th>Portfolio Type</th><th>Current Yield (%)</th><th>Duration</th><th>Convexity</th><th>1-Year Return (If Yields Drop 100bps)</th><th>2-Year Return (If Yields Drop 100bps)</th><th>1-Year Return (If Yields Rise 100bps)</th><th>2-Year Return (If Yields Rise 100bps)</th></tr></thead><tbody><tr><td>Low-risk bond portfolio</td><td>5.7%</td><td>6.5</td><td>1.1</td><td>12%</td><td>17%</td><td>-1.0%</td><td>5%</td></tr><tr><td>High-risk bond portfolio</td><td>7.5%</td><td>7.0</td><td>0.9</td><td>15%</td><td>22%</td><td>0.4%</td><td>8%</td></tr></tbody></table><figcaption class="wp-element-caption">Source: Bank of America</figcaption></figure>



<h3 class="wp-block-heading">Which Sector ETFs Stand To Benefit?</h3>



Investors looking to position for lower yields should consider rate-sensitive exchange-traded funds. 



Hartnett's report highlights opportunities in:



<ul>
<li>SPDR S&amp;P Homebuilders ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XHB#NYSE">XHB</a>): Lower mortgage rates could revive housing demand.</li>



<li>Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>): Defensive, dividend-paying stocks tend to outperform in a falling rate environment.</li>



<li>Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>): Banks benefit from a steepening yield curve and deregulation.</li>



<li>SPDR S&amp;P Biotech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XBI#NYSE">XBI</a>): Growth stocks, including biotech, typically gain as borrowing costs decrease.</li>
</ul>



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42990155/5-yields-fuel-demand-treasury-etfs-despite-bond-market-pain-relief-rally">5% Yields Fuel Demand For Long-Dated Treasury ETFs Despite Bond Market Pain: Is A Relief Rally On The Horizon?</a></li>
</ul>



Photo: Shutterstock

Regulations

Bonds

Specialty ETFs

Treasuries

Federal Reserve

'Buy Long Duration Bonds,' Says Bank Of America Strategist: 4 ETFs To Watch As Trump's Deficit Fight Unfolds

Oil prices extended their decline on Friday after Israel's Security Cabinet approved a ceasefire deal with Hamas, signaling a potential end in the <a href="https://www.benzinga.com/topic/gaza">15-month-long Gaza conflict.</a>



West Texas Intermediate crude futures – as tracked by the United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) – edged down 0.6% to $78.38 a barrel as of 8:40 a.m. ET, following a sharp 2.7% drop on Thursday. 



Brent crude also eased 0.5% to $81 per barrel. Meanwhile, U.S. energy stocks, as tracked by the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), edged 0.1% higher in the premarket, eyeing their eight straight day of gains. 



In a note Friday, <a href="https://www.energyintel.com/00000194-713c-d625-ab9e-f3bdb2db0000">Energy Intelligence</a> said oil prices fell amid expectations that Yemen's Iran-backed Houthi militia may halt attacks on vessels in the Red Sea, thus provoking less disruptions to global trade and oil flows. 



Israeli President Isaac Herzog hailed the Security Cabinet's approval of the ceasefire deal as a "vital step," emphasizing the moral and national duty of bringing home Israeli hostages.



<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">I welcome the Israeli Security Cabinet&#39;s decision to approve the hostage deal which will bring our hostages home, as presented by the Prime Minister and the negotiating team. I expect the government to follow suit in swiftly affirming this decision. This is a vital step toward… <a href="https://t.co/djCvh3WK39">pic.twitter.com/djCvh3WK39</a>&mdash; יצחק הרצוג Isaac Herzog (@Isaac_Herzog) <a href="https://twitter.com/Isaac_Herzog/status/1880241695637328243?ref_src=twsrc%5Etfw">January 17, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



In a statement on X , Herzog acknowledged the emotional weight of the agreement, particularly for families whose loved ones may not return in the initial stages.



&#8220;I welcome the Israeli Security Cabinet&#8217;s decision to approve the hostage deal which will bring our hostages home, as presented by the Prime Minister and the negotiating team. I expect the government to follow suit in swiftly affirming this decision.&#8221;



Herzog's statement, released just before Shabbat, also carried a message of hope and national healing, urging Israelis to see this moment as an opportunity to rebuild and shape their shared future. 



&#8220;I harbor no illusions — the deal will bring with it great challenges and painful, agonizing moments that we will need to overcome and face together. With all my heart, I embrace the families of the hostages, especially those who know that their loved ones will not return in the first stage. We must bring everyone back. Everyone! We will not rest or relent until this happens.&#8221;



While the ceasefire agreement must still pass a full Cabinet vote, Herzog's strong endorsement signals growing political momentum behind the deal.



On Thursday, Prime Minister Benjamin Netanyahu spoke separately with U.S. President Joe Biden and President-elect Donald Trump, thanking them for their roles in advancing the deal.



<h3 class="wp-block-heading">Red Sea Shipping Risks Keep Oil Markets Unsettled</h3>



Despite the ceasefire, S&amp;P Global Ratings <a href="https://www.spglobal.com/commodity-insights/en/news-research/latest-news/shipping/011625-shipping-risks-via-red-sea-remain-elevated-despite-israel-hamas-ceasefire">indicated</a> that most shipping firms are still maintaining alternative routes away from the Red Sea due to ongoing security concerns. 



A senior oil trading executive told the rating agency that &#8220;the risk of Houthi rebel attacks on ships remains significant,&#8221; as the group is backed by Iran.



This continued disruption could sustain pressure on oil prices, given the strategic importance of the Red Sea for global energy trade. The Bab el-Mandeb Strait, which connects the Red Sea to the Gulf of Aden, is a key chokepoint for oil shipments from the Middle East to Europe and North America.



Analysts at Capital Economics say the ceasefire's impact on global inflation and monetary policy may be overstated.



While easing geopolitical tensions could lower energy and shipping costs, the broader disinflationary effects might not be strong enough to significantly influence central banks&#8217; rate decisions.



According to Upstream, if the ceasefire holds, market focus could shift toward the U.S. and Russia. Yet, doubts persist over how durable the peace agreement will be and what it means for long-term stability in the region.



Read now: 



<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/01/43041207/5-things-investors-need-to-know-about-scott-bessents-economic-policies-as-he-faces-senate-grilling-for-treasury-job">5 Things Investors Need To Know About Scott Bessent&#8217;s Economic Policies As He Faces Senate Grilling For Treasury Job</a></li>
</ul>



Photo: Shutterstock

Oil Dips As Israeli Security Cabinet Approves Gaza Ceasefire: Experts Warn Red Sea Risks Persist

<a target="_blank" href="https://www.benzinga.com/topic/semiconductors" rel="noreferrer noopener">Contract chipmaker</a> Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) chief C.C. Wei opted to maintain a low profile by skipping President-elect&nbsp;Donald Trump&#8217;s inauguration, including donations to the Trump camp, Bloomberg reports.



The inaugural committee raised over <a target="_blank" href="https://www.benzinga.com/markets/equities/25/01/42938119/lockheed-martin-donates-1m-to-trumps-inaugural-committee-as-speculation-grows-over-elon-musk-led-doge-crackdown-on-traditional-defense-contracts" rel="noreferrer noopener">$170 million for January events</a>, thanks to donors including&nbsp;Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>),&nbsp;Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>),&nbsp;Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>),&nbsp;Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google, and&nbsp;Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>).



Big Tech giant leaders, including Apple&#8217;s Tim Cook, Amazon&#8217;s Jeff Bezos, and Tesla Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Elon Musk will attend the inauguration on January 20.



Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/price-target/25/01/43038644/citi-cheap-valuation-investment-banking-and-trading-outlook-paired-with-accelerating-buybacks-sparks-optimism-analyst" rel="noreferrer noopener">Citi Outperforms Analyst Expectations With 12% Revenue Growth, Confirms $20 Billion Buyback Plan</a>



Reuters reports that Wei blamed the crisis of skilled workers, supply chain gaps, and inadequate chip plant construction regulations for delaying the construction of its Arizona project.



Wei added that Taiwan Semiconductor&#8217;s U.S. plant is unlikely to procure the most advanced chip technology before factories in Taiwan due to compliance issues, construction, and other regulations.



Wei told Reuters that building the new Arizona factory took at least twice as long as in Taiwan due to the complex regulations that made it challenging to employ the chipmaker&#8217;s latest technology in the U.S. before Taiwan.



Previously, Taiwan Semiconductor stated most of its chip manufacturing would remain in Taiwan, especially for the most advanced chips.



Trump had called out Taiwan during <a target="_blank" href="https://www.benzinga.com/government/24/10/41604100/trump-goes-after-taiwan-semiconductor-on-joe-rogan-podcast" rel="noreferrer noopener">his presidential campaigns</a> for allegedly&nbsp;sabotaging America&#8217;s chip industry. He verbally attacked the U.S. CHIPS Act and pledged to slap tariffs on Taiwanese chips. He had also flagged the lack of a formal defense treaty between the U.S. and Taiwan.



Additionally, before handing over the charge to the Trump government, the Biden administration launched another round of <a target="_blank" href="https://www.benzinga.com/government/regulations/25/01/42897081/nvidia-and-ai-chip-stocks-brace-for-impact-as-biden-administration-considers-new-china-export-ban-report" rel="noreferrer noopener">artificial intelligence technology sanctions</a> on countries, including China and Russia, to restrict their warfare capabilities.



China has been a key semiconductor market for companies like Taiwan Semiconductor. Washington aims to maintain its semiconductor position dominance and share control with its allies, including Taiwan, the Netherlands (home to ASML Holding (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/asml#NASDAQ">ASML</a>)), and South Korea (home to Samsung Electronics (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ssnlf#OTC">SSNLF</a>)).



Wei told Bloomberg that he found the semiconductor sanctions &#8220;manageable&#8221; and does not expect them to affect chips for non-AI sectors such as cars and crypto-mining.



On Thursday, Taiwan Semiconductor reported <a target="_blank" href="https://www.benzinga.com/news/earnings/25/01/43022654/taiwan-semiconductor-q4-earnings-3nm-and-5nm-nodes-lead-topline-growth-expands-margins-issues-strong-q1-outlook" rel="noreferrer noopener">fourth-quarter revenue</a> of $26.88 billion (NT$868.46 billion), up 38.8%, topping the consensus estimate of $26.28 billion.



As its 3-nm and 5-nm technologies gained traction, the chipmaker&#8217;s gross margins expanded by 600 bps to 59%.



It expects first-quarter 2025 revenue of $25.0 billion—$25.8 billion versus the&nbsp;$24.97 billion consensus. It projects a gross margin of 57%—59%. Taiwan Semiconductor committed $38 billion—$42 billion to fiscal 2025 capex versus actual capex of $29.8 billion a year ago.&nbsp;



During the earnings call, Wei expressed conviction in producing chips of the same quality in Arizona as in Taiwan with a smooth ramp-up process.



Taiwan Semiconductor stock surged 109% in the last 12 months.



Investors can gain exposure to companies engaged in the manufacturing of semiconductors through VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>)



and iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>).



Price Action:&nbsp;TSM stock traded higher by 0.20% to $215.21 premarket at the last check on Friday.



Also Read:



<ul>
<li><a href="https://www.benzinga.com/news/earnings/25/01/43026092/bank-of-america-q4-earnings-6-7-billion-profit-1-7-billion-in-investment-banking-fees-forecasts-higher-nii-in-2025" target="_blank" rel="noreferrer noopener">Bank of America Q4 Earnings: $6.7 Billion Profit, $1.7 Billion In Investment Banking Fees</a></li>
</ul>



Photo by Jack Hong via Shutterstock

Media

AMZN

ASML

MSFT

SOXX

SSNLF

TSLA

Taiwan Semi Chief To Skip Trump Inauguration, Calls US Semiconductor Sanctions 'Manageable'

U.S. stock futures were trading higher on Friday morning, recovering from the previous day&#8217;s losses. Futures across all major indices showed gains.



Although the S&amp;P 500 ended its winning streak on Thursday, a strong Friday session could potentially result in the best weekly performance for the index since the November election.



The 10-year Treasury note yielded 4.60% and the two-year note was at 4.23%. Market expectations for the upcoming Federal Reserve meeting outcome on Jan. 31 suggest a high probability of 97.3% that the central bank will maintain interest rates at their current level, <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">according to</a> CME Group&#8217;s FedWatch tool.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Nasdaq 100</td><td>0.48%</td></tr><tr><td>S&amp;P 500</td><td>0.33%</td></tr><tr><td>Dow Jones</td><td>0.06%</td></tr><tr><td>Russell 2000</td><td>-0.19%</td></tr></tbody></table></figure>



Major stock market ETFs, such as the SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), were trading higher in pre-market trading on Friday. SPY saw a 0.35% increase to $593.70, while QQQ climbed 0.44% to $515.33, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.



Cues From The Last Session



U.S. stocks closed <a href="https://www.benzinga.com/news/earnings/25/01/43049530/sp-500-ends-three-session-win-streak-amid-decline-in-apple-nvidia-greed-index-remains-in-fear-zone">lower </a>on Thursday, ending a three-day winning streak. The tech sector weighed heavily on the market, with Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares declining significantly.



Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) and Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) posted positive earnings reports. Whereas, retail sales growth slowed in December, and jobless claims rose slightly, potentially dampening investor sentiment.



While most sectors finished the day in positive territory, including utilities, real estate, and industrials, the technology and communication services sectors dragged down the overall market.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>-0.89%</td><td>19.338.29</td></tr><tr><td>S&amp;P 500</td><td>-0.21%</td><td>5,937.34</td></tr><tr><td>Dow Jones</td><td>-0.16%</td><td>43,153.13</td></tr><tr><td>Russell 2000</td><td>0.15%</td><td>2,266.79</td></tr></tbody></table></figure>



Insights From Analysts



As Donald Trump moves to the White House on Monday, Dec. 20, Robin Brooks, the ex-Goldman Sachs FX Strategist and a senior fellow at Brookings Institution <a href="https://www.brookings.edu/articles/china-tariffs-and-trump-2-0/">said</a> the tariff confrontation between the U.S. and China could prove detrimental to the S&amp;P 500.



China's most &#8220;potent weapon&#8221; is the depreciation of the yuan as an offset to additional U.S. tariffs. This could negatively impact the U.S. economy, potentially tightening financial conditions and weighing on the S&amp;P 500, Brooks said in his research note.



Even though the new administration may seek to mitigate this by implementing targeted tariffs or a phased-in, conditional universal tariff, he said, &#8220;Given how little is priced, it seems likely that market volatility will rise in the months ahead.&#8221;



Highlighting the corporate earnings in 2025, Callie Cox, the chief market strategist at Ritholtz Wealth Management, said in an X post &#8220;All 11 sectors are expected to report growing profits, which would be the first time that&#8217;s happened since 2018.



<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">Wall Street expects the perfect year from S&amp;P 500 companies in 2025. All 11 sectors are expected to report growing profits, which would be the first time that&#39;s happened since 2018. Think about that when you listen to management comments this season. <a href="https://t.co/HinFA3zu88">pic.twitter.com/HinFA3zu88</a>&mdash; Callie Cox (@callieabost) <a href="https://twitter.com/callieabost/status/1880016203093332149?ref_src=twsrc%5Etfw">January 16, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Carson Research's report <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43049404/bull-markets-last-for-79-years-on-average-but-third-year-returns-can-be-weak-says-this-research-firm">analyzing</a> bull markets over the past 50 years shows that the 1987 and 2002 bull markets spanned five years each, while the 1974 bull market extended for 6.2 years.



Notably, the 2009 bull market lasted for 11 years, the longest in recent times. Additionally, the 1988 bull market held a record at 12.3 years.



On average, these five bull markets over the last 50 years were 7.9 years long.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Bull Markets Over The Last 50 Years</td><td>Total Duration (In Years)</td></tr><tr><td>August 1982-1987</td><td>5</td></tr><tr><td>October 2002-2007</td><td>5</td></tr><tr><td>September 1974 to November 1980</td><td>6.2</td></tr><tr><td>February 2009-2020</td><td>11</td></tr><tr><td>January 1988 to March 2000</td><td>12.3</td></tr><tr><td>Average</td><td>7.9</td></tr></tbody></table></figure>



"Looking at the previous 11 bull markets, we found the average bull lasted more than five years, suggesting even though this bull market is mighty, it could have plenty of room left to run," the note stated.



See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures </a>



Upcoming Economic Data



<ul>
<li>On Friday, Housing Starts and Building Permits for December will be announced at 8:30 a.m. ET.</li>
</ul>



<ul>
<li>Industrial Production and Capacity Utilization for December is slated to release at 9:15 a.m. ET.</li>
</ul>



Stocks In Focus:



<ul>
<li>Fastenal Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FAST#NASDAQ">FAST</a>) was up 0.17% in premarket on Friday as Wall Street expects it to report quarterly earnings at 48 cents per share on revenue of $1.84 billion before the opening bell before the opening bell.</li>
</ul>



<ul>
<li>State Street Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>) was up 0.01% ahead of its earnings before the opening bell. Analysts expect it to report quarterly earnings of $2.43 per share on revenue of $3.32 billion.</li>
</ul>



<ul>
<li>Schlumberger NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) was up 0.51% in premarket on Friday as Wall Street expects it to report quarterly earnings of 90 cents per share on revenue of $9.18 billion before the opening bell.</li>
</ul>



<ul>
<li>JB Hunt Transport Services Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBHT#NASDAQ">JBHT</a>) dropped 10.85% after reporting weaker-than-expected earnings for its fourth quarter on Thursday.</li>
</ul>



<ul>
<li>Versus Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VS#NASDAQ">VS</a>) was up 83.85% as it announced its expansion into Brazil to leverage its gamification platform to transform audience engagement across industries.</li>
</ul>



<ul>
<li>iSpecimen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISPC#NASDAQ">ISPC</a>), a leading online biospecimen marketplace, was up 44.56% as it secured the critical hMPV virus specimens as cases surged in China.</li>
</ul>



<ul>
<li>Qorvo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>) was up 7.09% as the activist investor Starboard Value LP reportedly acquired a 7.7% stake worth approximately $500 million in the struggling semiconductor manufacturer for potential operational changes.</li>
</ul>



Commodities, Gold And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 0.32% to hover around $78.10 per barrel.



The gold spot index was down by 0.77% to $2,729.99 per ounce. The Dollar Index was up 0.13% at 109.104 level.



Most Asian markets closed lower on Friday including Australia&#8217;s ASX 200, Japan&#8217;s Nikkei 225, and South Korea&#8217;s Kospi index. On the other hand, Hong Kong&#8217;s Hang Seng and China&#8217;s CSI 300 index advanced. European markets were trading higher.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/01/43027048/blackrock-generates-industry-leading-etf-inflows-of-390-billion-in-2024-here-are-five-ishares-etfs-that-investors-should-look-out-for">BlackRock Generates Industry-Leading ETF Inflows Of $390 Billion In 2024: Here Are Five iShares ETFs That Investors Should Look Out For</a></li>
</ul>



Photo courtesy: Shutterstock

Pre-Market Outlook

Markets

ISPC

JBHT

NVDA

QRVO

US Stocks Likely To Open Higher Ahead of Trump's Inaugration: All 11 Sectors To Report Growing Profits In 2025, Says Analyst

President Joe Biden has granted clemency to nearly 2,500 non-violent drug offenders as his last hours in the White House wind down. 



"Today, I am commuting the sentences of nearly 2,500 people convicted of non-violent drug offenses who are serving disproportionately long sentences compared to the sentences they would receive today under current law, policy, and practice," Biden said in a <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2025/01/17/statement-from-president-joe-biden-on-additional-clemency-actions/">statement</a> Friday. "Today's clemency action provides relief for individuals who received lengthy sentences based on discredited distinctions between crack and powder cocaine, as well as outdated sentencing enhancements for drug crimes." 



No word yet as to whether <a href="https://www.benzinga.com/news/legal/24/11/42177984/joe-biden-how-about-pardoning-non-violent-cannabis-prisoners-along-with-those-thanksgiving-turkeys">non-violent cannabis prisoners</a> will be involved in this group of people receiving commutations.



Read Also:<a href="https://www.benzinga.com/government/regulations/25/01/43040086/nra-warns-of-legal-confusion-over-guns-and-cannabis"> NRA Warns Of Legal Confusion Over Guns And Cannabis: Could Fed Ban Expand?</a>



The clemency is expected to benefit federal prisoners who are serving or were convicted of crack cocaine-related crimes, <a href="https://www.npr.org/2025/01/17/g-s1-41788/biden-pardons-commutations-drug-sentences">noted</a> NPR. The White House said these individuals had received sentences that were longer than they would be under today's drug policies and laws.



Biden told USA Today in a Jan. 8 interview that he would likely address sentencing disparities for offenses involving crack cocaine. &#8220;This action is an important step toward righting historic wrongs, correcting sentencing disparities, and providing deserving individuals the opportunity to return to their families and communities after spending far too much time behind bars,&#8221; he told Susan Page.



The Biden administration often criticized President Ronald Reagan's Anti-Drug Abuse Act that led to the arrest and imprisonment of thousands, a vast majority Black people. Due to automatic sentencing requirements, some people spent decades behind bars for possessing crack or cocaine.



Biden <a href="https://www.benzinga.com/24/12/42258387/biden-grants-full-and-unconditional-pardon-to-hunter-i-hope-americans-will-understand">granted a full and unconditional pardon</a> to his son Hunter Biden in early December 2024, drawing criticism from Democrats and Republicans and many in <a href="https://www.benzinga.com/24/12/42346107/critics-urge-biden-to-free-non-violent-pot-offenders-after-pardoning-son">the cannabis community</a>.



Just two weeks after his son's pardon, Biden <a href="https://www.benzinga.com/news/legal/24/12/42466804/biden-commutes-1500-sentences-grants-39-pardons-pot-prisoners-included-marks-single-day-record">commuted the sentences</a> of nearly 1,500 individuals and pardoned 39 others convicted of nonviolent offenses.



Biden has said he would consider additional pardons, <a href="https://www.nytimes.com/2025/01/17/us/politics/biden-commute-sentences-drug-offenders.html">according</a> to the NY Times, which could include preemptive pardons for former elected officials who President-elect Donald &nbsp;Trump has indicated he may target. &nbsp;



Now Read:



<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/01/43042694/president-trumps-endorsement-represents-a-sea-change-in-cannabis-policy-says-trulieve-ceo-as-advocacy-groups-join-forces">&#8216;President Trump&#8217;s Endorsement Represents A Sea Change In Cannabis Policy,&#8217; Says Trulieve CEO As Advocacy Groups Join Forces</a></li>
</ul>



Photo: Shutterstock

Cannabis

Biden Commutes Sentences Of Nearly 2,500 Convicted of Non-Violent Drug Offenses, No Mention Of Cannabis Prisoners

Leading coins remained steady on Thursday amid reports that President-elect Donald Trump may announce several pro-cryptocurrency measures after being sworn in.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:30 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+0.31%</td><td>$100,211.61</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-1.77%</td><td>$3,340.29</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+0.54%</td><td>$0.3789</td></tr></tbody></table></figure>



What Happened: Bitcoin wiggled in the $100,000 region, a day after reclaiming the psychologically important level on softer inflation data.&nbsp;



Ethereum also chopped in the $3,300-$3,900 zone as holders waited for the second-largest cryptocurrency to recapture the $4,000 milestone it reached last month.



The cryptocurrency market was brimming with optimism ahead of Trump's inauguration on Jan. 20. The president-elect was reportedly planning to designate cryptocurrency policy <a href="https://www.benzinga.com/25/01/43047039/trump-planning-to-declare-cryptocurrency-as-national-priority-increase-engagement-with-industry-report">as a national priority</a>.



Over $332 million was liquidated from the cryptocurrency market in the last 24 hours, with long liquidations accounting for $188 million.



About $960 million in upside bets could be liquidated if Bitcoin falls back to $95,000.



Bitcoin's Open Interest rose 2.21% in the last 24 hours. A sideways price movement, coupled with a rising Open Interest, typically precedes upside breakouts.



That said, more than half of derivatives traders on Binance placed short bets on Bitcoin, expecting a correction.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:30 p.m. ET)</td></tr><tr><td>Hedera (HBAR)</td><td>+23.49%</td><td>$0.387</td></tr><tr><td>Algorand (ALGO)</td><td>+12.24%</td><td>$0.4854</td></tr><tr><td>EOS (EOS)</td><td>+10.61%</td><td>$0.9507</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.52 trillion, increasing marginally by 0.04% in the last 24 hours.



Stocks reversed course on Thursday, erasing gains from the rally a day before. The Dow Jones Industrial Average fell 68.42 points, or 0.16%, to 43,153.13 The S&amp;P 500 ended a 3-day winning streak, closing 0.21% lower at 5,937.34. The tech-focused Nasdaq Composite lost 0.89% to end at 19,338.29.



Mega tech stocks such as Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) slipped 3.44% and 1.96%, respectively, likely contributing to the sell-offs.



See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>



Analyst Notes: Popular on-chain analyst Ali Martinez highlighted Bitcoin&#8217;s Long Term Holder Net Unrealized Profit/Loss indicator, which revealed a market sentiment ranging from "Euphoria" to "Greed" for long-term investors.



Net Unrealized Profit/Loss is derived from market value and realized value to track investor sentiment over time for a cryptocurrency.



<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">Long-term holders are starting to feel greedy again as <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> reclaims $100,000! <a href="https://t.co/RcOo9g5Ohg">pic.twitter.com/RcOo9g5Ohg</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1880048640984481985?ref_src=twsrc%5Etfw">January 17, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Crypto Candy, a widely followed X handle dedicated to cryptocurrency analysis and trading ideas, noted that Bitcoin was encountering a strong resistance zone at $101,000-$103,000, breaking which could propel the apex digital asset to all-time highs.



"Otherwise, if it is rejected once more, we might see it fall back to the $93,000-$91,000 level, although this is considered less likely," Crypto Candy gave the bearish thesis.



<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"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> • As anticipated, BTC experienced a price decrease in the lower time frame upon encountering a strong resistance zone, and is now attempting to reclaim that resistance. Repeated tests of this zone appear to be weakening it. • If it successfully breaks through the… <a href="https://t.co/EhOYqdGWGv">pic.twitter.com/EhOYqdGWGv</a>&mdash; Crypto Candy&#x1f525;&#x1f48e; (@cryptocandy24x) <a href="https://twitter.com/cryptocandy24x/status/1880072388551012445?ref_src=twsrc%5Etfw">January 17, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo by Avi Rozen on Shutterstock



Read Next:    



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43035888/donald-trump-reportedly-open-to-us-crypto-reserve-as-bitcoin-reserve-chatter-gathers-steam">Donald Trump Reportedly Open To US Crypto Reserve As Bitcoin Reserve Chatter Gathers Steam</a></li>
</ul>

Movers

$ETH

Bitcoin, Ethereum, Dogecoin Steady As Market Expects Trump's Pro-Crypto Bonanza: Analyst Says BTC Could Hit All-Time High If It Breaks This Resistance

Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) will reportedly not apply its new &#8220;<a href="https://www.benzinga.com/25/01/42851889/meta-ditches-fact-checking-for-community-notes-zuckerberg-says-opportunity-to-restore-free-expression">Community Notes</a>&#8221; feature to paid advertisements.



What Happened: Earlier this month, Meta CEO Mark Zuckerberg said the company would replace its fact-checking system with Community Notes.



Unlike the system on Elon Musk's X, which applies to both paid and unpaid posts, Meta&#8217;s version will focus solely on organic content.



Meta&#8217;s Community Notes will allow users to crowdsource annotations on posts they believe are misleading or lack context.



However, these notes will only apply to organic content, not paid ads, when the feature launches later this year, <a href="https://www.wsj.com/articles/metas-community-notes-wont-apply-to-paid-ads-marketers-still-have-questions-9a2af62c">reported</a> the Wall Street Journal, citing people with direct knowledge of the matter.



Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.



Marketers are left in a state of confusion, trying to understand the impact on their strategies, said Darren D'Altorio of Wpromote.



The uncertainty has sparked discussions about the future of organic sponsored content on Meta&#8217;s platforms, the report noted.



A Meta spokesperson told the publication that the company will continue to evaluate and improve the Community Notes feature as it rolls out in the U.S. over the coming months.



Meta did not&nbsp;immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga's</a> request for comments.



Why It Matters: Meta is set to announce its <a href="https://www.benzinga.com/general/social-media/25/01/42991174/meta-platforms-analyst-expects-strong-momentum-in-q4-to-continue-in-2025">fourth-quarter earnings</a> on Jan. 29. Last year in October, the company reported its <a href="https://www.benzinga.com/news/earnings/24/10/41637326/meta-platforms-q3-earnings-revenue-beat-eps-beat-daily-actives-up-5-strong-momentum-in-ai">third-quarter revenue</a> of $40.59 billion, surpassing analysts&#8217; expectations of $40.29 billion. Advertising accounted for 96% of this total revenue.



Price Action: Meta&#8217;s stock declined 0.94% on Thursday and dipped further by 0.016% in after-hours trading, settling at $611.20, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.



Image via Shutterstock



Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.



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<li><a href="https://www.benzinga.com/news/24/10/41633790/apple-refreshes-macbook-pro-lineup-with-m4-pro-and-m4-max-3nm-chips">Apple Refreshes MacBook Pro Lineup With M4 Pro and M4 Max 3Nm Chips</a></li>
</ul>



Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Meta's 'Community Notes' To Exempt Paid Ads, Marketers Left Puzzled About Organic Content Risks: Report

SpaceX CEO Elon Musk shared a video of rocket parts raining down from the sky on Thursday after the company lost the Starship&#8217;s new-generation upper stage spacecraft during the seventh test flight of its Super Heavy-Starship mega rocket. 



What Happened: Musk said on X, &#8220;Success is uncertain, but entertainment is guaranteed!&#8221; 



<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">Success is uncertain, but entertainment is guaranteed! &#x2728; <a href="https://t.co/nn3PiP8XwG">pic.twitter.com/nn3PiP8XwG</a>&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1880040599761596689?ref_src=twsrc%5Etfw">January 16, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The first stage booster was successfully recaptured, but the Starship&#8217;s telemetry froze eight minutes and 27 seconds post-launch due to unexpected engine shutdowns or failures, <a href="https://www.cbsnews.com/news/spacex-starship-spacecraft-destroyed-super-heavy-mega-rocket-launch/">reported</a> CBS News.



The Super Heavy-Starship mega rocket was launched from SpaceX&#8217;s Boca Chica, Texas, manufacturing and flight test facility at 5:37 p.m. Eastern Time on Thursday. The rocket, powered by 33 methane-burning Raptor engines, generated up to 16 million pounds of thrust. 



Two minutes and 40 seconds after liftoff, the Super Heavy detached, allowing Starship to ascend toward space powered by its six Raptor engines. However, the loss of telemetry left flight controllers in the dark about the final stages of the ascent. 



SpaceX later confirmed the ship&#8217;s destruction on X, stating, &#8220;Starship experienced a rapid unscheduled disassembly during its ascent burn.&#8221;



<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">Starship experienced a rapid unscheduled disassembly during its ascent burn. Teams will continue to review data from today&#39;s flight test to better understand root cause. With a test like this, success comes from what we learn, and today's flight will help us improve Starship's…&mdash; SpaceX (@SpaceX) <a href="https://twitter.com/SpaceX/status/1880033318936199643?ref_src=twsrc%5Etfw">January 16, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also: <a href="https://www.benzinga.com/general/space/25/01/43023657/jeff-bezos-blue-origins-new-glenn-reaches-orbit-on-first-try-spacex-ceo-elon-musk-applauds-rivals-achievement">Jeff Bezos&#8217; Blue Origin&#8217;s New Glenn Reaches Orbit On First Try: SpaceX CEO Elon Musk Applauds Rival&#8217;s Achievement</a>



Why It Matters: The <a href="https://www.benzinga.com/25/01/43020027/starships-7th-test-flight-postponed-to-thursday-owing-to-unfavorable-weather-says-spacex">seventh test flight</a> of the Starship had been postponed to Thursday due to unfavorable weather conditions. The test flight featured multiple experiments to test a variety of heat shield improvements, including metallic tiles and one with active cooling. 



Earlier in December, Musk <a href="https://www.benzinga.com/24/12/42718758/elon-musk-says-starship-will-get-fully-reusable-heat-shield-in-2025-i-am-confident">shared his vision</a> of developing a fully reusable heat shield by 2025. The entrepreneur had also <a href="https://www.benzinga.com/government/24/10/41621276/elon-musk-predicts-sending-starship-to-mars-in-2-years-but-warns-regulatory-hurdles-could-delay-lift">outlined a bold timeline</a> for sending SpaceX&#8217;s Starship to Mars within two years, but he warned that regulatory challenges could delay these plans. T



The ongoing test program will determine when SpaceX&#8217;s ambitious missions of sending humans and cargo to Earth orbit, the moon, and Mars might be possible.



Check out more of Benzinga's Future Of Mobility coverage by <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/general/space/25/01/42892886/spacex-ceo-elon-musk-offers-free-starlink-terminals-to-los-angeles-areas-affected-by-wildfires">SpaceX CEO Elon Musk Offers Free Starlink Terminals To Los Angeles Areas Affected By Wildfires</a></li>
</ul>



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>

Starship Explodes During Flight Test, Elon Musk Says: 'Success Is Uncertain, But Entertainment Is Guaranteed!'

The CNN Money Fear and Greed index showed a decline in overall market sentiment, while the index remained in the &#8220;Fear&#8221; zone on Thursday.



U.S. stocks settled lower on Thursday, with the S&amp;P 500 ending a three-session winning streak.



Big tech shares recorded losses during the session, with Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) falling 4% and NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) down around 2%.



Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) topped earnings expectations, while Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) also surpassed bottom-line projections.



On the economic data front, U.S. retail sales rose 0.4% month-over-month in December versus a revised 0.8% increase in the previous month and down from market estimates of 0.6%. U.S. initial jobless claims increased by 14,000 from the previous week to 217,000 in the week ending January 11, compared to market estimates of 210,000.



Most sectors on the S&amp;P 500 closed on a positive note, with utilities, real estate, and industrials stocks recording gains on Thursday. However, information technology and communication services stocks bucked the overall market trend, closing the session lower.



The Dow Jones closed lower by around 68 points to 43,153.13 on Thursday. The S&amp;P 500 fell 0.21% to 5,937.34, while the Nasdaq Composite dipped 0.89% to 19,338.29 during Thursday's session.



Investors are awaiting earnings results from Fastenal Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FAST#NASDAQ">FAST</a>), State Street Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>, )) and Schlumberger Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 28.4, the index remained in the &#8220;Fear&#8221; zone on Thursday, versus a prior reading of 31.1.



The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/25/01/43025282/wall-streets-most-accurate-analysts-views-on-3-energy-stocks-with-over-7-dividend-yields">Wall Street&#8217;s Most Accurate Analysts&#8217; Views On 3 Energy Stocks With Over 7% Dividend Yields</a></li>
</ul>



Photo courtesy: Shutterstock

Earnings

S&P 500 Ends Three-Session Win Streak Amid Decline In Apple, Nvidia: Greed Index Remains In 'Fear' Zone

Ark Invest CEO Cathie Wood has been a proponent of space industry growth and she may have found her new <a href="https://www.benzinga.com/topic/space-stocks">favorite stock.</a>



What Happened: Two Ark Invest ETFs added small positions in Intuitive Machines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUNR#NASDAQ">LUNR</a>) to their portfolios on Wednesday, as the space stock soared over the past year and could gain more support with recent <a href="https://www.benzinga.com/general/sports/24/12/42647377/intuitive-machines-stock-is-moving-higher-monday-whats-going-on">NASA contract wins.</a>



The stock was added to the Ark Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>) with 267,642 shares <a href="https://www.ark-funds.com/">purchased</a>. This represents 0.52% of the ETF and the 35th largest position at the time of writing.



To make way for the addition, Ark sold shares of Rocket Lab USA Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>), another high-performing 2024 space stock. Rocket Lab is currently the fourth-largest position in the ETF at 5.59% of assets, trailing only Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), 15.44%; Kratos Defense &amp; Security Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KTOS#NASDAQ">KTOS</a>), 10.07% and Teradyne Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TER#NASDAQ">TER</a>), 9.03%.



The stock was also added to the Ark Space Exploration &amp; Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKX#BATS">ARKX</a>) with 160,178 shares purchased. This represents 1.04% of the ETF and the 27th largest position at the time of writing.



To make way for this addition, Ark sold shares of Kratos and Rocket Lab. Kratos is the largest holding in the ETF at 10.20% followed by Rocket Lab at 8.99%.



Both of the purchases, which were reported in overnight trading activity emails, are the total amount of shares owned as of Thursday. This means these were the first purchases by both ETFs. Investors will be closely following to see if Wood adds to the Intuitive Machines positions.



Read Also: <a href="https://www.benzinga.com/markets/penny-stocks/23/08/34102486/exclusive-cathie-wood-tells-benzinga-why-tesla-should-trade-as-a-tech-stock">EXCLUSIVE: Cathie Wood Tells Benzinga Why Tesla Should Trade As A Tech Stock</a>



Why It's Important: Intuitive Machines stock is up over 600% in the past year. The company had one of the biggest headlines in February 2024 as Intuitive Machines had the<a href="https://www.benzinga.com/24/02/37276634/intuitive-machines-built-odysseus-achieves-first-us-soft-landing-on-moon-since-1972-nasa-chief-says"> first private spacecraft</a> land on the moon and the first U.S. soft landing on the surface since 1972.



Optimism for space stocks like Intuitive Machines carries into 2025 with the company announcing several NASA contract awards in December.



Intuitive Machines is also preparing to head back to the moon with a launch targeted for late February.



A recent <a href="https://www.benzinga.com/general/space/25/01/42828631/exclusive-rocket-lab-intuitive-machines-redwire-or-ast-spacemobile-33-of-readers-pick-this-space-stock-for-2025">Benzinga reader poll </a>asked which space stock they would most likely invest in for 2025. Rocket Lab won the poll with 33%. Intuitive Machines ranked second among the four stocks at 24%, while 26% said they wouldn't invest in space stocks in 2025.



The other item to watch is how high up the top holdings list Intuitive Machines is for the Ark Space Exploration ETF.



The Procure Space ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UFO#NASDAQ">UFO</a>) has been holding the stock for some time and Intuitive Machines is currently the top holding at 7.81%.



LUNR Price Action: Intuitive Machines trades at $19.06 at market close Thursday versus a 52-week trading range of $2.48 to $22.32.



Photo: Courtesy of Intuitive Machines

SPACE

ARKQ

ARKX

KTOS

LUNR

RKLB

Cathie Wood Adds New Space Stock To 2 ETFs: Company Went To Moon, Will Investment Returns Follow?

The CDC issued a health advisory Thursday recommending that hospitalized patients who have tested positive for influenza be tested for the bird flu <a href="https://www.benzinga.com/general/biotech/25/01/42854890/us-records-first-human-bird-flu-death-high-levels-of-respiratory-illnesses-vaccine-stocks-rally">virus within 24 hours.&nbsp;</a>



What To Know: There have been 67 confirmed human cases of bird flu in the U.S. since 2024 and the CDC<a href="https://www.cdc.gov/bird-flu/situation-summary/index.html"> says it is</a> "watching the situation carefully and working with states to monitor people with animal exposures."



The CDC's latest H5N1<a href="https://www.cdc.gov/han/2025/han00520.html"> bird flu advisory</a> comes as new cases continue to be revealed. On Wednesday, the CDC confirmed a bird flu infection in a child in the San Francisco area who was not hospitalized and has since recovered. The CDC said it is still investigating how the child was exposed to the virus. 



Read Next: <a href="https://www.benzinga.com/general/health-care/25/01/43041254/unitedhealth-ceo-highlights-hospitals-doctors-pharmas-role-in-soaring-health-care-costs">UnitedHealth CEO Highlights Hospitals, Doctors, Pharma&#8217;s Role In Soaring Health Care Costs</a>&nbsp;



According to a Washington Post<a href="https://www.washingtonpost.com/health/2025/01/16/bird-flu-testing-patients-in-hospital/"> report</a>, Nirav Shah, CDC's principal deputy director, said the latest recommendation is meant to accelerate testing rather than increase the number of tests being performed.&nbsp;



Shah said it was prompted by cases in which infected patients were later confirmed to have bird flu, including after being discharged.



Earlier this month, the Louisiana Department of Health reported the first human death in the U.S. related to the H5N1 bird flu virus.



Vaccine Makers: Shares of vaccine-related stocks are on watch as previous bird flu developments have caused shares to spike.&nbsp;



Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) received a $176 million government contract in July to advance development of its bird flu vaccine, leveraging the same mRNA technology used in the company's COVID-19 vaccine.  



Novavax, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVAX#NASDAQ">NVAX</a>) has a bird flu vaccine in clinical trials<a href="https://www.benzinga.com/general/biotech/24/11/41878334/fda-gives-green-signal-to-novavaxs-covid-19-influenza-combo-vaccine-late-stage-trial"> in addition</a> to a COVID-19-influenza combination vaccine in late-stage clinical trials. 



CureVac N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVAC#NASDAQ">CVAC</a>) stock is also on watch as the company has started a phase I/II study on its bird flu vaccine developed in collaboration with GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>).  



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Photo: Shutterstock

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Bird Flu Raising Red Flags Among Health Officials, CDC Urges Faster Testing

Scott Bessent, Donald Trump's nominee for Treasury Secretary, faced sharp questioning in his Senate confirmation hearing Thursday, defending the administration's economic agenda on tariffs, tax policy, government spending, <a href="https://www.benzinga.com/news/econ-s">and U.S. global competitiveness.</a>



Markets took note as Bessent outlined a vision that could steer fiscal policy, trade, and energy. He also reinforced the dollar's role as <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43021014/trumps-treasury-pick-scott-bessent-urges-dollar-must-remain-worlds-reserve-currency-as-president-elect-reportedly-pushes-for-strategic-bitcoin-reserve">the world's reserve currency</a>.



His remarks signal a return to Trump-era economic priorities — lower corporate taxes, higher tariffs, and increased domestic energy production—with significant implications for investors.



Here are five key takeaways. 



<h3 class="wp-block-heading">1) Will Tariffs Make The Dollar Even Stronger?</h3>



Bessent defended Trump's broad tariff proposals, rejecting claims they would act as a direct tax on American consumers.



See Also: <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42240108/trump-tariffs-could-hit-pockets-of-consumers-retailers-urge-customers-to-shore-up-purchases-experts-warn-a-stronger-dollar-might-still-not-make-up-for-deficit">Trump Tariffs Could Hit Pockets Of Consumers, Retailers Urge Customers To Shore Up Purchases</a>



He cited economic models suggesting that the costs wouldn't fully pass through to U.S. buyers but would instead be offset by currency appreciation, changing consumer behavior, and price adjustments by foreign producers.



"If we were to say use a number that has been thrown around in the press at 10% [universal tariffs], then traditionally the currency appreciates by 4%," Bessent said, indicating that a stronger dollar would offset some of the inflationary effects of tariffs.



Bessent also stressed the importance of safeguarding the U.S. dollar's status as the world's reserve currency, tying it directly to economic stability and national security.



During his confirmation hearing, he stated: &#8220;Critically, we must ensure that the U.S. dollar remains the world&#8217;s reserve currency."



He also indicated that tariffs could be a powerful tool in negotiations, potentially replacing sanctions in some cases. He referenced Trump's belief that sanctions may be pushing countries away from the U.S. dollar, indicating that tariffs could serve as a more strategic alternative.



His comments suggest that if Trump's tariffs are enacted, investors should watch for dollar strength, which could have major implications for exporters, multinational corporations, and commodity prices. 



Since Trump was elected in November, the U.S. dollar index (DXY) – as broadly tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) – <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42436633/trump-has-a-dollar-problem-president-elect-favors-weaker-currency-but-potential-tariffs-might-end-up-strengthening-the-greenback-instead">has risen by 5%</a>.



<h3 class="wp-block-heading">2) Trump's 2017 Tax Cuts Must Be Permanent</h3>



Bessent made clear that one of his top priorities is making Trump's 2017 tax cuts permanent, warning that allowing them to expire would create "an economic calamity" with &#8220;devastating&#8221; effects. 



If Congress does not act, Americans could face what he called a "gigantic middle-class tax increase" totaling $4.3 trillion starting in 2026.



&#8220;We must make permanent the 2017 Tax Cuts and JOBS Act, and implement new pro-growth policies to reduce the tax burden on American manufacturers, service workers, and seniors,&#8221; Bessent stated.



According to Bessent, such measures could increase U.S. GDP by 1.1% over time and boost business investment.



He also dismissed criticism that the tax cuts <a href="https://www.benzinga.com/personal-finance/24/11/42146895/are-you-rich-enough-to-benefit-from-trumps-tax-breaks-heres-how-much-youd-need-to-be-part-of-the-top-5">primarily benefited the wealthy</a>, arguing that "the top 50% of Americans now pay 98% of taxes."



&#8220;I believe Wall Street has done great the past few years and that Main Street has suffered. I think it&#8217;s Main Street&#8217;s time. Wall Street can continue to do well, maybe not as well, and it&#8217;s time to have a Main Street small-business-led recovery,&#8221; Bessent said.



See Also: <a href="https://www.benzinga.com/personal-finance/24/10/41313947/expert-finds-trumps-tax-proposal-drains-money-from-95-of-households-and-funnels-it-to-the-top-5-">Trump&#8217;s Tax Proposal Drains Money From 95% Of Households And Funnels It To The Top 5%, ITEP Says</a>



<h3 class="wp-block-heading">3) Spending Cuts And Deficit Control: Austerity Incoming?</h3>



Bessent painted a stark picture of Washington's fiscal trajectory, stating: "The United States does not have a revenue problem. We have a spending problem." 



He highlighted that the federal deficit has averaged 7% of GDP over the past four years, calling for major reductions in government expenditures.



&#8220;One of the things that got me out from behind my desk and my quiet life in this campaign was the thought that this spending is out of control,&#8221; Bessent said.



"We must work to get our fiscal house in order and adjust federal domestic discretionary spending that has grown by an astonishing 40% over the past four years," he added. 



Though he didn't specify which programs could face cuts, he indicated that federal agencies must prioritize productive investments over what he described as "wasteful spending that drives inflation."



Investors should brace for intense fiscal battles in Congress as lawmakers weigh <a href="https://www.benzinga.com/general/24/10/41653514/musk-says-us-must-live-within-our-means-with-proposed-2-trillion-spending-cut">spending reductions against economic risks</a>.



<h3 class="wp-block-heading">4) Energy Policy: More Domestic Drilling, Tougher On Russia And Iran</h3>



Bessent strongly aligned with Trump's call for "unleashing American energy production," arguing that higher domestic output is critical for economic growth and national security. 



He indicated that Biden's reluctance to impose tougher sanctions on Russian oil exports was driven by fears of rising U.S. fuel prices.



"If any officials in the Russian Federation are watching this confirmation hearing, they should know that if I'm confirmed… I will be 100% on board for taking sanctions up, especially on the Russian oil majors, to levels that would bring the Russian Federation to the table," Bessent stated.



The Treasury nominee also linked energy security to broader U.S. foreign policy, arguing that increased American oil production could help pressure adversaries like Iran.



See Also: <a href="https://www.benzinga.com/government/23/10/35240230/us-is-producing-more-oil-under-biden-than-at-any-point-under-the-trump-administration">US Produced More Oil Under Biden Than At Any Point Under The Trump Administration</a>



&#8220;We can make Iran poor again, not the Iranian people, the Iranian, the government, and then at the same time have our domestic producers push that up with the highest energy standards in the world,&#8221; Bessent said.



<h3 class="wp-block-heading">5) Countering China</h3>



Bessent signaled a tougher stance on China, arguing that the country's economic struggles are pushing it toward aggressive trade tactics. 



"China is the most unbalanced economy in the history of the world," he said, emphasizing that Beijing is attempting to "export their way out of their current economic malaise."



&#8220;They are using their surpluses to fund their military machine in China,&#8221; Bessent added.



To counter this, he backed stronger controls on U.S. investment in China, particularly in strategic sectors such as artificial intelligence, quantum computing, and semiconductors. 



&#8220;We want to make sure that we maintain [the lead] through smart policies,&#8221; he said. 



Check Out: 



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<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43036184/us-energy-sector-had-a-strong-start-to-2025-analysts-eye-constructive-setup-for-chevron">US Energy Sector Enjoys Strong Start To 2025, Analysts Eye &#8216;Constructive Setup&#8217; For Chevron</a></li>
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Image: Shutterstock

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5 Things Investors Need To Know About Scott Bessent's Economic Policies As He Faces Senate Grilling For Treasury Job

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