Editor&#8217;s Note: This article has been updated to correctly attribute the tariff announcement to the Trump administration.



U.S. equity indices reversed earlier gains and fell into negative territory during Friday afternoon trading in New York after the White House confirmed that new tariffs on imports from Canada, Mexico, and China would take effect on Saturday, escalating trade tensions with the <a href="https://www.benzinga.com/news/global/25/01/43401971/white-house-confirms-tariffs-on-key-us-trade-partners-this-weekend">country's three largest suppliers.</a>



The S&amp;P 500—tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)—fell 1%, sliding from 6,120 points at midday to 6,045 points by 2:45 p.m. ET.



The Dow Jones Industrial Average dropped 0.8% to 44,530 points, while the Nasdaq 100—tracked by the Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)—fell 1.5%, reversing an earlier 1.3% gain.



Sector-wise, the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) deepened its losses, sliding 2.9%. Meanwhile, the Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) was the only sector still in positive territory, up 0.3%, though it had pared earlier gains.



The Trump administration is imposing a 25% tariff on goods from Canada and Mexico, along with a 10% duty on Chinese imports. White House Press Secretary Karoline Leavitt stated that the measure responds to these nations&#8217; alleged role in allowing illegal fentanyl to enter the U.S.



A <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43398182/trumps-25-tariffs-could-slaughter-canada-mexico-economies-hit-us-auto-industry-analysts-warn">Goldman Sachs research note</a> published Friday estimated that GDP in Canada and Mexico could decline by 1% to 4%, with consumer prices rising up to 2% due to increased import costs.



For the U.S., the new tariffs would raise the overall tariff rate by 7.3 percentage points, resulting in a 0.7% increase in core personal consumption expenditures prices, the Federal Reserve's preferred inflation gauge, and a 0.4% drag on U.S. GDP growth.



<h3 class="wp-block-heading">Dollar Reigns Supreme, Canadian Dollar Nears 9-Year Lows</h3>



In currency markets, the U.S. dollar strengthened against all major counterparts, particularly against those most affected by the tariff announcement.



The greenback surged past 1.4520 against the Canadian dollar, on track to close the session at its highest level since January 2016.



The dollar erased earlier losses against the Mexican peso and gained 0.3% against the Chinese yuan.



A broader measure of dollar strength, as broadly followed by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), was up 0.3%.



<h3 class="wp-block-heading">Bond Yields Surge, Gold Retreats, Bitcoin Slumps</h3>



Treasury yields spiked, reflecting investor concerns over the inflationary impact of tariffs. Both 10-year Treasury yields and 30-year yields were up 5 basis points to 4.57% and 4.81%, respectively. 



As a reaction, the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) fell 0.7%



Gold pared earlier gains amid a stronger dollar and rising yields.



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) bore the brunt of the risk-off move, tumbling over 3% from $105,000 to $102,000.



Read Next: 



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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43399315/apples-better-than-feared-guidance-calms-iphone-ai-china-concerns-7-analyst-reactions">Apple&#8217;s &#8216;Better Than Feared&#8217; Guidance Calms iPhone, AI, China Concerns: 7 Analyst Reactions</a></li>
</ul>



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Analyst Color

Cryptocurrency

Equities

Government

Macro Economic Events

Regulations

Sector ETFs

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Broad U.S. Equity ETFs

Commodities

Currency ETFs

Econ #s

Economics

ETFs

$BTC

Wall Street Sinks On Trump's Tariff Announcement, Bitcoin Drops 3%, Dollar Soars (CORRECTED)

An American Airlines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) plane and an Army helicopter&#8217;s mid-air collision near Ronald Reagan Washington National Airport has authorities looking for answers as President Donald Trump lashes out at DEI policies as<a href="https://www.benzinga.com/general/travel/25/01/43354408/trump-comments-on-american-airlines-crash-heres-what-we-know-what-he-suggests-is-to-blame"> an early scapegoat.</a>



What Happened: The Wednesday night crash led to the <a href="https://www.benzinga.com/general/travel/25/01/43343648/all-60-passengers-4-crew-members-onboard-american-airlines-jet-feared-dead-after-midair-collision-official-says">death of 67 people </a>aboard the two aircraft after which the search and rescue mission quickly turned into a recovery mission.



A total of 41 bodies have been recovered from the wreckage along with black boxes from the plane. Officials continue to look for the black box aboard the Army helicopter, <a href="https://www.nbcnews.com/news/us-news/live-blog/dc-plane-crash-live-updates-rcna190079">reported</a> NBC News.



American Airlines announced Friday that flight number 5342 will be retired and renamed as flight number 5677. Changing flight numbers after accidents is a common practice for the industry.



The Ronald Reagan Washington National Airport is operating as normal on Friday after facing closures following the accident.



Wednesday's plane crash is the deadliest aviation incident in the United States in 23 years.



Read Also: <a href="https://www.benzinga.com/25/01/43373139/trumps-comments-on-american-airlines-crash-despicable-says-pete-buttigieg-president-should-be-leading-not-lying">Trump&#8217;s Comments On American Airlines Crash &#8216;Despicable,&#8217; Says Pete Buttigieg: President Should Be &#8216;Leading, Not Lying&#8217;</a>



What Could Investigation Find?: The investigation, which is being led by the National Transportation Safety Board, is in the early stages and preliminary findings from the black boxes could take around 30 days to be made public.



Early reports in the investigation from the Federal Aviation Administration point to one air traffic controller being left to do the jobs of two people, the New York Times <a href="https://www.nytimes.com/2025/01/31/business/dc-plane-helicopter-crash-cause.html">reported</a>.



The airport often has one air traffic controller handling air traffic and one handling helicopters. On some nights after 9:30 p.m. when traffic is lower, one person handles both duties. The report said on Wednesday one traffic controller was allowed to leave before 9:30 leaving one person in charge of both duties earlier than normal.



The FAA investigation said this was "not normal for the time of day and volume of traffic."



Audio recordings hear the traffic controller asking the helicopter to stay away from the flight path of the plane.



The helicopter also allegedly flew outside its approved flight plan and the airplane was told to land at a different runway than originally planned, adding additional complications to landing at the airport.



Another item factoring into the investigation is a shortage of air traffic controllers at the airport with some employees working six days a week and 10 hours a day, which may lead to fatigue and impact the ability to do their jobs.



An FAA spokesperson said the airport had 25 certified air traffic controllers out of a goal of 28. Reports show there were 19 controllers back in September 2023 with the union asking for 30.



The plane crash and investigation follows changes made at several key government agencies in recent days. On Jan. 21, Trump fired the heads of the Coast Guard and Transportation Security Administration and eliminated the Aviation Security Advisory Committee.



Former Federal Aviation Administration leader Michael Whitaker resigned from his position on Jan. 20, a move that came months after Trump-ally Elon Musk demanded he quit his position.



Helicopter traffic around the airport has been an ongoing concern flagged by pilots before and could factor into the investigation and lead to changes.



On Tuesday, another flight set to land at Reagan Washington National Airport had to go around due to helicopter traffic, NBC News reported. &nbsp;



A <a href="https://www.nbcchicago.com/investigations/records-show-pilots-complained-for-20-years-about-near-misses-at-dc-airport/3661183/">review </a>of complaints by NBC 5 found at least 16 complaints since 2006 of pilots having close calls with helicopters or other airplanes when trying to land at the airport.



Included in the complaints is one from April 2024 where a pilot said he did not see a helicopter 300 feet below his aircraft and received no warning from air traffic control.



Trump's Blame Game: Trump has suggested in the days following the accident that diversity, equity and inclusion (DEI) policies "could have been" a cause of the plane crash.  



When asked about coming to the conclusion that DEI was to blame and providing evidence, Trump snapped back at a reporter.



"Because I have common sense. OK? And unfortunately, a lot of people don't. We want brilliant people doing this," Trump said. &nbsp;



Also supporting Trump's public blaming DEI for the deadly accident was billionaire Elon Musk, who owns the X social media platform.



Musk <a href="https://x.com/elonmusk/status/1885089037112791069">shared </a>multiple posts from people suggesting DEI factored into the equation or could be a reason why the aircrafts collided. Musk also shared a New York Post article about the FAA pushing for diversity in hiring.



"Under the Biden administration, the FAA and other government agencies had absolutely insane hiring practices that endangered the public. President @realDonaldTrump and his team are working rapidly to restore competent personnel to all positions involving your safety," Musk tweeted.



Reporters asked White House Press Secretary Karoline Leavitt about Trump's remarks during a press briefing Friday.



"Given DEI hires, it's not safe to fly commercially, is it?" Fox News White House correspondent Peter Doocy <a href="https://x.com/atrupar/status/1885391686924157358">asked</a>.



Leavitt said it is still safe, a comment that could contradict what Trump said the day before.



Doocy also <a href="https://x.com/atrupar/status/1885392023462490597">asked </a>if the air traffic controller in the DCA tower Wednesday was hired or not fired previously because of their race.



"That investigation is ongoing," Leavitt answered. <a href="https://www.nbcnews.com/author/phil-helsel-ncpn115631"></a><a href="https://www.wsj.com/news/author/benjamin-katz" target="_blank" rel="noreferrer noopener"></a>



AAL Price Action: American Airlines stock is up 1% to $17.04 on Friday versus a 52-week trading range of $9.07 to $19.10. The stock dropped Thursday and is now trading nearly flat in 2024 with shares up 20% over the last year.

News

Politics

Trump, Musk Blame DEI For Plane Crash: Authorities Look At Staffing, Congestion For Answers, Search Continues After 41 Bodies Found

United Parcel Service, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) reported its fourth-quarter results on Thursday and announced a plan to reduce its Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) package volume by more than 50% by the second half of 2026. The announcement comes as part of a set of strategic initiatives UPS launched to drive approximately $1 billion in savings <a href="https://www.benzinga.com/pressreleases/25/01/b43330139/ups-releases-4q-2024-earnings-and-provides-2025-guidance">by reconfiguring its U.S. network. </a>



The Details: UPS executives laid out additional details during the company's earnings call with analysts. 



CEO Carol Tome said the shift away from Amazon would benefit the company and its shareholders &#8220;because if we take no action, it will likely result in diminishing returns.&#8221; 



"Amazon is our largest customer but it&#8217;s not our most profitable customer," Tome said.



Read Next: <a href="https://www.benzinga.com/general/health-care/25/01/43372753/eggs-prices-soar-as-bird-flu-spreads-why-experts-expect-another-45-increase-in-2025">Eggs Prices Soar As Bird Flu Spreads: Why Experts Expect Another 45% Increase In 2025</a>



Amazon made up 11.8% of UPS's total company revenue in<a href="https://www.benzinga.com/news/earnings/25/01/43335015/ups-q4-earnings-major-customer-volume-cut-raises-jitters-stock-tanks"> fiscal 2024</a>, however, the margin on Amazon packages is "very dilutive" to its U.S. domestic business, the CEO disclosed on the call. 



She said the company's contract with Amazon was up this year and UPS needed to reassess the relationship. The result of reduced Amazon volumes will be "an improved customer mix at a significantly higher revenue per piece,&#8221; Tome said.&nbsp;



BofA Securities analysts highlighted UPS&#8217;s margin outlook points to an increase of 120 basis points to 8.8% in 2025 with the reduction in Amazon volume. The firm reiterated its Buy rating on UPS shares but lowered the price from $150 to $133.



According to <a href="https://www.supplychaindive.com/news/ups-amazon-volume-reduction-q4-2024-earnings/738749/">a report </a>from Supply Chain Dive, Amazon had offered to increase UPS's volumes, not reduce them.&nbsp;



"Due to their operational needs, UPS requested a reduction in volume and we certainly respect their decision," Amazon spokesperson Kelly Nantel told Supply Chain Dive. "We'll continue to partner with them and many other carriers to serve our customers."



Tome confirmed on the earnings call that the "accelerated glide down" of Amazon volumes was initiated by UPS.&nbsp;



"This was not their ask. This was us. This was UPS taking control of our destiny," the CEO said.&nbsp;



UPS Price Action: After a volatile morning, UPS stock is flat at $114.85 at time of publication Friday, according to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>. 



Read Next:&nbsp;



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<li><a href="https://www.benzinga.com/news/earnings/25/01/43320124/microsoft-shares-slide-after-q2-results-cloud-revenue-misses-expectations-details">Microsoft Shares Slide After Q2 Results, Cloud Revenue Misses Expectations: Details</a>&nbsp;</li>
</ul>



Photo: Shutterstock

Earnings

Large Cap

Movers

AMZN

UPS CEO Says Amazon Is 'Our Largest,' But 'Not Our Most Profitable Customer'

President Donald Trump is moving forward with a sweeping tariff plan targeting key U.S. trading partners, a move that is already rattling financial markets and <a href="https://www.benzinga.com/markets/25/01/43377455/trumps-tariffs-could-force-us-to-buy-venezuelan-oil-theres-no-other-option-on-the-table-says-canadas-foreign-minister">drawing economic concerns. </a>



The White House confirmed Friday that new tariffs on imports from Canada, Mexico, and China will take effect this weekend, escalating trade tensions with three of the country's largest suppliers, CNBC <a href="https://www.cnbc.com/2025/01/31/trump-tariffs-on-canada-mexico-and-china-begin-saturday-white-house-says.html">reports</a>.



What Happened: The administration is imposing a 25% tariff on goods from Canada and Mexico, along with a 10% duty on Chinese imports. White House Press Secretary Karoline Leavitt stated that the move is in response to the role these nations allegedly play in allowing illegal fentanyl to enter the U.S. 



While details remain scarce, the administration indicated that specific tariff measures will be publicly available on Saturday, according to CNBC.



Markets reacted swiftly to the announcement, with the Dow Jones Industrial Average falling more than 200 points. Investors had been bracing for potential trade restrictions, but the broad scope of these tariffs injected fresh volatility into the session.



Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43399315/apples-better-than-feared-guidance-calms-iphone-ai-china-concerns-7-analyst-reactions">Apple&#8217;s &#8216;Better Than Feared&#8217; Guidance Calms iPhone, AI, China Concerns: 7 Analyst Reactions</a>



Why It Matters: The tariffs could disrupt supply chains, raising costs for businesses and consumers. Analysts warn that industries such as automobiles, healthcare, and consumer goods may face higher expenses, potentially leading to price increases.



Mexico and Canada are critical U.S. trading partners, with imports from both countries totaling nearly $910 billion in 2023. Economists at Goldman Sachs estimate that the tariffs could reduce GDP in Canada and Mexico by as much as 4% while pushing <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43398182/trumps-25-tariffs-could-slaughter-canada-mexico-economies-hit-us-auto-industry-analysts-warn">U.S. core inflation higher.</a>



Analysts at Bank of America warn that a prolonged tariff dispute could dampen economic growth and accelerate inflation across North America.



The White House has yet to clarify whether any exemptions will be granted, denying earlier reports that some exclusions might be available.



All three major U.S. stock indexes reacted to the tariff announcement, with SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) trading 0.12% lower, Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) up 0.51%, and SPDR Dow Jones Industrial Average ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) down 0.63% at the time of publication.



Read Next:



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<li><a href="https://www.benzinga.com/news/econ-s/25/01/43396354/inflation-rises-again-may-be-end-of-the-road-for-interest-rate-cuts-expert-says">Inflation Rises Again: May Be &#8216;End Of The Road&#8217; For Interest Rate Cuts, Expert Says</a></li>
</ul>



Image created using artificial intelligence via Midjourney.

Asia

Global

White House Confirms Tariffs On Key US Trade Partners This Weekend

Major stock indices have completed their recovery following Monday's sharp drop, buoyed by tech stocks rallying on the back of solid earnings <a href="https://www.benzinga.com/news/econ-s">and positive macroeconomic data.</a>



The S&amp;P 500 index stands at 6,118 points at midday trading in New York, not far from the all-time high of 6,128 points reached last Friday.



The Personal Consumption Expenditure price index — the Fed's preferred inflation gauge — <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43390001/feds-favorite-inflation-gauge-rises-as-predicted-consumer-spending-jumps-at-fastest-pace-in-9-months">came in line with expectations in December</a>, easing market participants&#8217; concerns over interest rates. Fed futures continue to reflect expectations for two rate cuts by the end of the year.



Meanwhile, personal spending posted a robust 0.7% increase in December, signaling strong consumer appetite in the final month of the year — a promising sign for corporate earnings.



The Magnificent Seven — as tracked by the Roundhill Magnificent Seven ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>) – soared 1.6% on Friday, effectively erasing weekly losses after plunging as much as 3.1% on Monday due to the DeepSeek selloff.



Yet, within the elite group, NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) remains 12% lower than last Friday's close, with Friday&#8217;s gains primarily driven by Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)



The Dow Jones, flat on the day, attempted to break its all-time highs at the open but faced resistance from sellers. Sector-wise, tech leads the charge, while energy lags following mixed earnings results from oil giants Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>).



Gold climbed above $2,800 per ounce, extending new records as demand for the ultimate safe-haven asset surges amid rising geopolitical and trade risks. This comes after President Donald Trump confirmed on Thursday his plan to introduce 25% tariffs on Mexico and Canada starting Feb. 1.



WTI crude oil prices were down 0.3% at $72.3 per barrel, potentially marking their second consecutive weekly decline.



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) paused for a breather, holding steady at $104,800.



<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>21,814.96</td><td>1.4%</td></tr><tr><td>• S&amp;P 500</td><td>6,118.40</td><td>0.8%</td></tr><tr><td>• Russell 2000</td><td>2,315.94</td><td>0.4%</td></tr><tr><td>• Dow Jones</td><td>44,973.98</td><td>0.2%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated at 12:24 p.m. ET</figcaption></figure>



According to&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent013125&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>&nbsp;data:



<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;rose 0.7% to $609.38.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) edged up by 0.1% to $449.30.</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>)&nbsp;rallied 1.4% to $530.49.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.5% to $229.68.</li>



<li>The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up 1.2%; the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 1.7%.</li>
</ul>



<h2 class="wp-block-heading">Friday&#8217;s Stock Movers</h2>



<ul>
<li>Stocks reacting to earning reports included: 
<ul>
<li>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), up 0.72%</li>



<li>Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) up 0.80%</li>



<li>Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) up 0.17% </li>



<li>KLA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>) up 2.11%, </li>



<li>PPG Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPG#NYSE">PPG</a>) down 6.12%, </li>



<li>ResMed Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RMD#NYSE">RMD</a>) down 6.36%, </li>



<li>Baker Hughes Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) up 5.52%, </li>



<li>Deckers Outdoor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>) down 16.5%,</li>



<li>LPL Financial Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>) up 1.99%.</li>



<li>Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>): down 1.31%</li>



<li>AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>): up 6.7%</li>



<li>Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>): down 3.7%</li>



<li>Colgate-Palmolive Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CL#NYSE">CL</a>): down 4.5%</li>



<li>Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>): down 0.8%</li>



<li>Charter Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>): up 3.6%</li>



<li>Booz Allen Hamilton Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAH#NYSE">BAH</a>): down 0.6%</li>
</ul>
</li>
</ul>



Read Now: 



<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43398182/trumps-25-tariffs-could-slaughter-canada-mexico-economies-hit-us-auto-industry-analysts-warn">Trump&#8217;s 25% Tariffs Could Slaughter Canada, Mexico Economies, Hit US Auto Industry, Analysts Warn</a></li>
</ul>



Photo: Shutterstock

Tech

AAPL

ABBV

CHTR

DECK

INTC

KLAC

LPLA

MAGS

NVDA

TSLA

Tech Stocks Rally, S&P 500 Flirts With Records, Gold Extends All-Time Highs: What's Driving Markets Friday?

Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) analysts see China, iPhone and Services as the key highlights from the company&#8217;s<a href="https://www.benzinga.com/news/earnings/25/01/43355688/apple-q1-earnings-revenue-beat-eps-beat-iphone-sales-slip-installed-base-climbs-to-all-time-high-our-best-quarter-ever"> first-quarter financial results. </a>



The Apple Analysts: 



<ul>
<li>Raymond James analyst Srini Pajjuri reiterated an Outperform rating on Apple with a $250 price target.</li>



<li>Bank of America analyst Wasmi Mohan reiterated a Buy rating and raised the price target from $253 to $265.</li>



<li>Goldman Sachs analyst Michale Ng maintained a Buy rating and raised the price target from $280 to $294.</li>



<li>Rosenblatt analyst Barton Crockett maintained a Buy rating and raised the price target from $262 to $263.</li>



<li>Oppenheimer analyst Martin Yang reiterated a Perform rating with no price target.</li>



<li>Piper Sandler analyst Matt Farrell reiterated a Neutral rating with a $225 price target.</li>



<li>Needham analyst Laura Martin maintained a Buy rating with a $260 price target.</li>
</ul>



Raymond James on AAPL: First-quarter results were better than expected and Apple's outlook was "decent," Pajjuri said in a new investor note.



"We are encouraged by stronger upgrade trends in regions where Apple Intelligence is available, and remain optimistic [about] further momentum," Pajjuri said.



The analyst said the tech giant is "uniquely positioned" for one-device AI features with a strong ecosystem in place.



"On-device AI has lower capex needs and offers faster monetization potential through consumer hardware upgrades, which we think makes AAPL stock particularly attractive."



Bank of America on AAPL: Strong Services growth and higher gross margins could bring upside for Apple stock, Mohan said in a new note.



"We view GM as sustainable and expect more iPhone unit upside once Apple Intelligence further improves functionality," Mohan said.



The analyst said Apple's product portfolio is "resilient to macro demand fluctuations" and guidance was "better than feared."



Revenue in China was down 11% year-over-year. The analyst said lean channel inventory and sales momentum in the region at the end of the quarter could prove to be a tailwind to iPhone sales in the March quarter.



Goldman Sachs on AAPL: iPad and Mac showed strength in the quarter to offset iPhone and Wearables, Ng said in a new note.



The analyst said second-quarter guidance was "better-than-feared" and estimates could include the benefit of the iPhone SE4, which has not been announced.



"The strong F2Q25E outlook and commentary on Apple Intelligence's impact on iPhone demand to-date helps strengthen the favorable investment thesis around an iPhone upgrade cycle," Ng said.



The analyst said iPhone 16 sales are outpacing the iPhone 15 and upgrade rates are improving.



Apple's Services segment had record gross margins and revenue. The analyst sees this segment continuing to benefit from Apple's growing installed base and increased customer engagement.



Rosenblatt on AAPL: Investors&#8217; fears about AI, and iPhone were "flipped to the mat" by the company, Crockett said in a new note.



"Fears had built that data points of weak global and China iPhone sales meant that consumers weren't interested in Apple Intelligence, less interested in Apple's iPhones, and that the bottom had fallen out in China," Crockett said.



The analyst said third-party data can be noisy and unreliable.



Crockett predicts Apple's March quarter could see China sales benefitting from inventory replenishment and a government stimulus. &nbsp;



Oppenheimer on AAPL: Services record revenue is a tailwind for margins, Yang said in a new note.



"Overall, Apple delivered slightly better than expected results, but iPhone supercycle based on Apple Intelligence rollout, seems harder to achieve any time soon," Yang said.



The analyst highlighted Apple CEO Tim Cook's comments that regions with Apple Intelligence outperformed regions without.



"We believe Apple will show stronger resistance to competition with its expanding hardware and software ecosystem."



Yang said Apple's elevated stock valuation, a lack of "compelling consumer gen AI applications and increased competition in China&#8221; could keep the company from beating analyst expectations for revenue and earnings.



"Longer term, we see compelling value in the Apple ecosystem and its ability to monetize its user base."



Piper Sandler on AAPL: Apple's quarterly revenue was in-line with estimates while iPhone revenue was worse than expected, Farrell said in a new note.



"Both iPhone revenue and broader China remain challenged in our view, with upside in the calendar fourth quarter driven by iPhone and Mac," Farrell said.



Needham on AAPL: Martin said highlights from Apple's quarter were record devices, Services record revenue growth, Mac and iPad revenue growth, iPhone 16 sales compared to iPhone 15 and gross margins.



The analyst said negatives from the quarter were iPhone revenue, China revenue, weak second-quarter guidance and wearables.



Martin said Apple provided a non-answer to a question about DeepSeek.



"AAPL ‘making its own weather' can make it appear totally out of touch with the real world sometimes, and their DeepSeek ‘non-answer' is a great example of this," Martin said.



Martin said Apple's installed base is its "most valuable asset."



"We argue that the best way to think about AAPL's valuation, pricing power, competitive advantage period and barriers to entry is through the lens of AAPL's installed base."



AAPL Price Action: Apple stock is up 0.8% to $239.65 on Friday versus a 52-week trading range of $164.08 to $260.09. Apple stock is up 30% over the last year.



Read Next:



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<li><a href="https://www.benzinga.com/news/econ-s/25/01/43396354/inflation-rises-again-may-be-end-of-the-road-for-interest-rate-cuts-expert-says">Inflation Rises Again: May Be &#8216;End Of The Road&#8217; For Interest Rate Cuts, Expert Says</a></li>
</ul>



Image created using artificial intelligence via Midjourney.

Price Target

Reiteration

Analyst Ratings

Trading Ideas

Apple's 'Better Than Feared' Guidance Calms iPhone, AI, China Concerns: 7 Analyst Reactions

A trade war across North America is about to begin. President Donald Trump's decision to impose a 25% tariff on all imports from Canada and Mexico starting Saturday threatens to disrupt key supply chains across the North American region, with wide-ranging repercussions among <a href="https://www.benzinga.com/government/regulations/25/01/43353698/trump-slaps-25-tariffs-on-canada-mexico-loonie-peso-slide-oil-climbs">trade-intensive sectors. </a>



The tariffs directly target two of United States&#8217; largest trading partners. In 2023, the U.S. imported $480 billion worth of goods from Mexico, making it America&#8217;s top import source, while $429.6 billion in goods came from Canada, ranking third behind China.



Analysts and economists warn that the consequences could be severe for economies and may effect industries from automobiles and industrials to health care and consumer goods.



<h3 class="wp-block-heading">Uncertainty Looms As Markets Await Further Details</h3>



Joseph Brusuelas, chief economist at RSM, said that markets are failing to grasp the long-term economic risks.



&#8220;The market will not be able to have it both ways on tariffs and trade wars for long. Tariffs can&#8217;t be both a negotiating tactic and an offset that raises revenues to finance tax cuts. It&#8217;s a polite fiction that depends on the willing suspension of disbelief by the investment community that is simply not sustainable,&#8221; Brusuelas said.



Brusuelas highlighted how tariff-related concerns surged in corporate earnings discussions, with industrials and health care sectors seeing the highest mentions. 



&#8220;Investors are confused by the unclear tariff rollouts from the Trump administration,&#8221; said Boris Kovacevic, global macro strategist at Convera, adding that the lack of clarity from the White House is making market pricing difficult.



Currency markets reacted immediately to the announcement. The Mexican peso has fallen by over 1% against the dollar since Thursday&#8217;s tariff announcement, while the Canadian dollar weakened 0.6%.



&#8220;The Canadian dollar and the Mexican peso will likely act as buffers to help each country deal with the ensuing negative terms-of-trade shock, as the prices of Canadian and Mexican exports are likely to fall. &nbsp;Economic activity will likely decelerate in both countries and higher inflation is also likely,&#8221; said Bank of America economist Carlos Capistran. 



Betting markets now indicate near-certainty that the U.S. will impose tariffs on both Mexico and Canada this year. Data from CFTC-regulated betting platform Kalshi shows odds of tariffs on Mexico surging to 96% on Jan. 31, up from 83% just a day earlier.



<iframe loading="lazy" src="https://kalshi.com/external-widgets/events/KXTARIFFSMEX-26/markets/KXTARIFFSMEX-26?color_scheme=light&#038;widget_size=medium&#038;variant=a&#038;utm_campaign=benzinga_widget" width="488px" height="242px" style="border:0" > </iframe>



<h3 class="wp-block-heading">Mexico, Canada May Face Heavy Economic Damage, US Auto Industry Most At Risk</h3>



The economic damage of such tariff measures could be significant. In a note shared Friday, Goldman Sachs estimated that GDP in Canada and Mexico could drop by 1%-4%, with prices rising up to 2% due to the increased costs of goods.



For the U.S., the tariffs would raise the overall tariff rate by 7.3 percentage points, leading to a 0.7% increase in core personal consumption expenditures prices, the Fed&#8217;s key measure of inflation, and a 0.4% drag on GDP.



Automakers such as General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) rely heavily on parts and vehicles imported from both countries.



&#8220;Our estimates serve as a reminder of the sizable economic and market risks associated with Trump's trade proposals,&#8221; wrote economist Joseph Briggs. 



According to Goldman Sachs, in 2024, the U.S. produced 10.19 million vehicles domestically but sold 16.03 million, meaning that 5.85 million vehicles were imported, mainly from Canada and Mexico. 



With an average sales price of $45,000 per vehicle, the total value of auto imports exceeded $2.6 trillion, according to their calculation. 



The 25% tariff could add billions in costs to automakers, forcing them to either raise vehicle prices or absorb the cost and cut margins. Consumers could soon feel the impact at dealerships, as higher tariffs translate to more expensive cars.



Read now: 



<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/01/43377987/after-imposing-tariffs-on-canada-donald-trump-threatens-100-levy-on-brics-for-move-against-dollar-how-will-us-manage-production-from-slippers-to-ships-asks-expert">After Imposing Tariffs On Canada, Donald Trump Threatens 100% Levy On BRICS For Move Against Dollar: &#8216;How Will US Manage Production From Slippers To Ships?,&#8217; Asks Expert</a></li>
</ul>

Latin America

Trump's 25% Tariffs Could Slaughter Canada, Mexico Economies, Hit US Auto Industry, Analysts Warn

The Personal Consumption Expenditures price index, the Federal Reserve's preferred inflation measure, rose 2.6% in December 2024, according to data released Friday. While the data were in line with expectations, it marks the third consecutive increase in annual PCE inflation, following a low of 2.1%<a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43390001/feds-favorite-inflation-gauge-rises-as-predicted-consumer-spending-jumps-at-fastest-pace-in-9-months"> in September last year. </a>



Expert Ideas: Fed Governor Michelle Bowman delivered remarks after the print on Friday and said she thinks the Fed should wait for more evidence of easing inflation before making additional rate cuts.&nbsp;



"There is still more work to be done to bring inflation closer to our 2 percent goal. I would like to see progress in lowering inflation resume before we make further adjustments to the target range," Bowman said in remarks, as<a href="https://www.cnbc.com/2025/01/31/pce-inflation-december-2024-.html?&amp;qsearchterm=PCE"> reported by</a> CNBC.&nbsp;



"I do expect that inflation will begin to decline again and that by year-end, it will be lower than where it now stands," Bowman added. 



Read Next: <a href="https://www.benzinga.com/general/health-care/25/01/43372753/eggs-prices-soar-as-bird-flu-spreads-why-experts-expect-another-45-increase-in-2025">Eggs Prices Soar As Bird Flu Spreads: Why Experts Expect Another 45% Increase In 2025</a>



Joseph Brusuelas, chief economist at RSM, noted the "slow progress" towards the Fed's target rate of 2% and said policymakers will be looking for easing in rents and service inflation specifically before making another rate cut.&nbsp;



"It looks increasingly likely that we may have reached the end of the road on the Fed's current rate cutting campaign," Brusuelas said.&nbsp;



Mohamed El-Erian, chief economic advisor at Allianz, also highlighted the "stickiness" reflected in some of the Federal Reserve's favorite economic indicators. 



"The numbers are consistent with the view that inflation remains sticky above the Fed&#8217;s target, and is likely to remain so," El-Erian wrote in a social media post.



<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">Today&#39;s US data releases contain what many view as some of the Federal Reserve&#39;s favorite economic indicators. Specifically, Headline PCE for December remained unchanged at 2.6%, in line with the consensus forecast. Core inflation came in at 2.8%. The ECI (employment cost…&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1885323828940701942?ref_src=twsrc%5Etfw">January 31, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Markets React: All major U.S. indices are up on Friday with the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>),&nbsp; tracking the S&amp;P 500, up 0.65% at $608.97 and the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), tracking the Nasdaq 100 index, up 1.28% at $529.78 at the time of publication.&nbsp;



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/news/earnings/25/01/43320124/microsoft-shares-slide-after-q2-results-cloud-revenue-misses-expectations-details">Microsoft Shares Slide After Q2 Results, Cloud Revenue Misses Expectations: Details</a>&nbsp;</li>
</ul>



Image created using artificial intelligence via Midjourney.

Federal Reserve

Inflation Rises Again: May Be 'End Of The Road' For Interest Rate Cuts, Expert Says

Editor&#8217;s note: This story has been updated with additional details. 



The Federal Reserve&#8217;s preferred inflation measure surged as predicted last month, quelling headwinds for the central bank&#8217;s goal of gradually reaching the 2% target, while a strong surge in personal spending continued to reiterate the <a href="https://www.benzinga.com/news/econ-s">health of U.S. consumers.</a>



The Personal Consumption Expenditures price index rose 2.6% in December 2024 on a year-over-year basis, according to data released Friday. This means an acceleration from the previous 2.4% but in line with economic forecasts of 2.6%, as tracked by TradingEconomics estimates.



It&#8217;s also the third consecutive increase in annual PCE inflation, following a low of 2.1% in September last year. On a monthly basis, the PCE price index rose 0.3%, up from 0.1% in the prior month, but in line with expectations.



Core PCE inflation, which excludes volatile energy and food prices, held steady at 2.8% year over year, matching forecasts. On a monthly basis, core PCE rose 0.2%, also aligning with estimates.



In its December macroeconomic projections, the Federal Reserve raised its 2025 inflation outlook, expecting both headline and core PCE inflation to average 2.5% in 2025.



Personal income increased 0.4% month over month in December, accelerating from 0.3% in November, in line with expectations.



&#8220;The increase in personal income in December primarily reflected an increase in compensation, led by private wages and salaries,&#8221; the Bureau of Economic Analysis wrote. 



Personal spending spiked 0.7%, up from the previous 0.6%, beating forecasts of 0.5% and marking the strongest increase since March 2024. 



The highest changes in monthly consumer spending occurred in housing and utilities, up by $29.8 billion, transportation services, up $25.9 billion, and gasoline and other energy goods, up $21.8 billion. 



<h3 class="wp-block-heading">Market Reactions</h3>



The U.S. dollar index, which is tracked by the&nbsp;Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), held broadly steady minutes after the release.



Treasury yields inched marginally higher,&nbsp;with the 10-year yield up by 2&nbsp;basis points to 4.54%. 



Futures on major U.S. indices traded mostly in the green in New York premarket trading, with contracts on the S&amp;P 500 up 0.5%, although a tad lower following the PCE release. On Thursday, the SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) closed 0.5% higher.



Sector-wise, the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) led gains, up 1%, driven by a 4.2% premarket surge in Apple Inc.



The Consumer Staples&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) was the laggard, falling 0.5%, weighed down a 14% drop in Walgreens Boots Alliance Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>). 



Gold prices – tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) – remained steady at record highs of $2,800 per ounce, up 0.4% for the day. 



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</ul>

Markets

Fed's Favorite Inflation Gauge Rises As Predicted, Consumer Spending Jumps At Fastest Pace In 9 Months (UPDATED)

Oil giant Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) shares are trading lower after the company&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/b43380068/chevron-reports-fourth-quarter-2024-results" rel="noreferrer noopener">reported&nbsp;fourth-quarter&nbsp;results</a>.



Revenues&nbsp;and other income of&nbsp;$52.23 billion beat the consensus of&nbsp;$46.75 billion.&nbsp;



In the fourth quarter, net oil-equivalent production declined slightly to 3,350 MBOED from 3,392 MBOED a year ago quarter.



In 2024, worldwide net oil-equivalent production rose&nbsp;7%&nbsp;year over year to 3,338 MBOED, led by a full year of legacy PDC Energy and strong production in the Permian Basin (+18% Y/Y).



Adjusted net earnings were&nbsp;$3.63 billion, with adjusted EPS at $2.06 (down from&nbsp;$3.45 a year ago) in the quarter,<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener"> missing the consensus of&nbsp;$2.11.</a>



U.S. Upstream reported&nbsp;earnings of&nbsp;$1.420 billion&nbsp;versus a loss of $1.347 billion&nbsp;a year ago on the absence of decommissioning charges for previously sold certain assets and impairment charges, primarily related to California assets.



International upstream earnings fell&nbsp;to&nbsp;$2.884 billion from&nbsp;$2.933 billion a year ago, owing to lower realizations and higher operating expenses partly due to severance charges, impairments, and lower liftings.



U.S. downstream reported a loss of $348 million vs. a profit of $470 million due to reduced margins on refined product sales and increased operating expenses.



International downstream earnings declined to&nbsp;$100 million from&nbsp;$677 million in the prior year quarter, on decreased margins on refined product sales and impairments.



Operating cash flow decreased to $31.5 billion in 2024 from $35.6 billion a year ago owing to lower earnings and higher payments linked to asset retirement obligations.



Chevron returned&nbsp;$27.0&nbsp;billion&nbsp;of cash to shareholders in the year, including dividends of&nbsp;$11.8&nbsp;billion&nbsp;and share repurchases of&nbsp;$15.2&nbsp;billion.



The company held cash and equivalents of&nbsp;$6.8 billion as of December 31, 2024.



Dividend: The company increased its quarterly dividend by 5% to $1.71 per share, payable on March 10, to shareholders of record as of February 14, 2025.



Mike Wirth, Chevron&#8217;s chairman and chief executive officer, said, &#8220;The company started up several key projects in the Gulf of America, including the industry-first, high-pressure Anchor project. In Kazakhstan, Tengizchevroil completed the Wellhead Pressure Management Project and recently <a target="_blank" href="https://www.benzinga.com/25/01/43189407/chevrons-tengiz-expansion-delivers-first-oil-adding-260000-barrels-per-day-capacity" rel="noreferrer noopener">started up the Future Growth Project.</a>&#8220;



The company recently completed asset sales in Canada, the Republic of Congo and Alaska, progressed the acquisition of Hess Corporation, and announced a target of&nbsp;$2 billion &#8211; $3 billion of structural cost <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">reductions by the end of 2026.</a>



Read: <a target="_blank" href="https://www.benzinga.com/25/01/42900932/chevrons-whale-platform-achieves-first-oil-aiming-for-300000-boeday-by-2026" rel="noreferrer noopener">Chevron Kicks Off Whale Oil Production: Details</a>



In December, the company stated that it expects organic capital expenditure of $14.5 billion to $15.5 billion for consolidated subsidiaries and $1.7 billion to&nbsp;$2.0 billion for <a target="_blank" href="https://www.benzinga.com/news/earnings/24/12/42366105/chevron-eyes-15-5-billion-capex-for-2025-anticipates-upto-1-5-billion-charges-in-q4" rel="noreferrer noopener">affiliate capital expenditures for 2025</a>.



Investors can gain exposure to CVX via&nbsp;EA Series Trust Strive U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRLL#NYSE">DRLL</a>) and&nbsp;SPDR Select Sector Fund &#8211; Energy Select Sector (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>).



Price Action: CVX shares are down 1.69% at $153.68 premarket at the last check Friday.



Read Next:



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<li><a href="https://www.benzinga.com/25/01/43308041/chevron-ge-vernova-engine-no-1-bet-big-on-ai-power-but-is-it-too-late" target="_blank" rel="noreferrer noopener">Chevron, GE Vernova Bet Big On AI Power: Data Centers To Consume Enough Natural Gas To Power 3.5 Million Homes</a></li>
</ul>



Image from Shutterstock.

Guidance

Dividends

General

DRLL

Chevron Q4 Earnings: Profits Decline Amid Lower Oil Output, Dividend Hike Offers Silver Lining

On Thursday, Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) launched its RTX 5090 and 5080 graphics cards, only to see them sell out almost immediately.



What Happened: The highly anticipated Nvidia Series 5000 GPUs sold out rapidly, leaving many gamers frustrated, <a href="https://in.ign.com/nvidia-rtx-5080/223698/news/nvidia-rtx-5090-and-5080-sell-out-instantly-and-scalpers-are-already-cashing-in-with-6000-ebay-listi">reported</a> IGN. The GPUs were anticipated to have limited availability, a fact Nvidia had previously warned about.



Despite the warning, eager buyers lined up at <a href="https://www.benzinga.com/tech/25/01/43242360/jensen-huang-mania-mirrors-taylor-swift-people-are-camping-outside-retailers-for-nvidia-5000-series-gpus">U.S. distributor Micro Center</a>, hoping to secure one of the coveted cards.



However, the limited stock led to scalpers listing the RTX 5090 on eBay for over $6,000, a significant markup from its $1,999 MSRP, the report noted.



See Also: <a href="https://www.benzinga.com/markets/25/01/43377131/tim-cook-wont-say-how-apple-plans-to-handle-trumps-tariff-policies-but-heres-whats-at-stake-for-the-iphone-maker">Tim Cook Won&#8217;t Say How Apple Plans To Handle Trump&#8217;s Tariff Policies — But Here&#8217;s What&#8217;s At Stake For The iPhone Maker</a>



Third-party manufacturers also increased prices, with the Asus ROG Astral model reaching $2,799.



As a result, gamers expressed their frustration online, with some calling it a &#8220;paper launch&#8221; due to the lack of available stock.



Why It Matters: The scarcity of these GPUs is partly due to a design flaw in Nvidia&#8217;s Blackwell-based processors. This flaw affected production yields, impacting the availability of the RTX 5090 and 5080.



Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.



Nvidia&#8217;s focus on data center chips, which share the same manufacturing process, further strained consumer GPU production, the report stated.



Nvidia is expected to report its fourth-quarter earnings on Feb. 26. Last quarter, it posted a <a href="https://www.benzinga.com/news/earnings/24/11/42099904/nvidia-beats-q3-revenue-eps-estimates-supply-constraints-ding-stock-huang-says-age-of-ai-is-in-full-steam">revenue of $35.1 billion</a>, marking a 94% year-over-year surge and surpassing Wall Street's consensus estimate of $33.12 billion.



Price Action: Nvidia&#8217;s stock dipped 1.16% in pre-market trading to $123.20 on Friday after closing at $124.65 up 0.77% during regular hours on Thursday, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.



Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.



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<li><a href="https://www.benzinga.com/tech/25/01/43221770/apples-ipad-turns-15-today-heres-a-throwback-to-when-steve-jobs-explained-called-it-the-third-category-after-phones-and-notebooks" target="_blank" rel="noreferrer noopener">Apple's iPad Turns 15 Today: Here's A Throwback To When Steve Jobs Explained Called It The ‘Third Category' After Phones And Notebooks</a></li>
</ul>



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



Image via Shutterstock

Media

Nvidia RTX 5090 And 5080 Sell Out Instantly — Scalpers Jack Up Prices To $6,000 As Gamers Face 'Paper Launch' Frustration

U.S. stock futures climbed on Friday, pointing to a third straight week of gains fueled by strong corporate earnings. Futures were higher for all four major indices.



The dollar index strengthened after Donald Trump announced Thursday that the U.S. will implement a 25% tariff on imports from Canada and Mexico, effective Saturday, Feb. 1. He also threatened the <a href="https://www.benzinga.com/government/regulations/25/01/43377987/after-imposing-tariffs-on-canada-donald-trump-threatens-100-levy-on-brics-for-move-against-dollar-how-will-us-manage-production-from-slippers-to-ships-asks-expert">BRICS nations</a> to impose 100% tariffs if they issue BRICS reserve currency.



Investors await the Personal Consumption Expenditure data for December, which will be released before the market opens.



The 10-year Treasury yield is currently at 4.53%, and the two-year yield is at 4.21%. The CME Group&#8217;s FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.htm">tool </a>indicates an 82% probability that the Federal Open Market Committee will maintain current interest rates in March 2025.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Nasdaq 100</td><td>0.78%</td></tr><tr><td>S&amp;P 500</td><td>0.45%</td></tr><tr><td>Dow Jones</td><td>0.34%</td></tr><tr><td>Russell 2000</td><td>0.01%</td></tr></tbody></table></figure>



In premarket trading on Friday, both 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 ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) were higher. SPY was up 0.42% at $607.59, and QQQ gained 0.80% to reach $527.22, based on <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From The Last Session



Stocks rallied Thursday following mixed reactions to a wave of earnings reports and economic data.



This followed Wednesday&#8217;s down session after the Fed held rates steady. Investor sentiment fluctuated due to DeepSeek&#8217;s low-cost AI model launch and Big Tech earnings, this week.



Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) shares fell 0.74% despite beating first-quarter revenue and earnings estimates as iPhone sales slipped in Q1 to $69.14 billion, versus $69.7 billion last year. Revenue reached $124.3 billion as compared to $124.13 billion expected by Benzinga Pro, and adjusted earnings per share was $2.40 as compared to the expectation of $2.36 per share.



IBM Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) surged nearly 13% on artificial intelligence growth, Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) gained 1.6% on strong results, while Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) fell 6.2% despite exceeding expectations due to weaker cloud revenue.



On the economic front, Q4 GDP growth and jobless claims were slightly below forecasts, but overall economic indicators remain strong, with the Fed, on Wednesday, citing a robust labor market and &#8220;somewhat elevated&#8221; inflation.



<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>0.25%</td><td>19,681.75</td></tr><tr><td>S&amp;P 500</td><td>0.53%</td><td>6,071.17</td></tr><tr><td>Dow Jones</td><td>0.38%</td><td>44,882.13</td></tr><tr><td>Russell 2000</td><td>1.07%</td><td>2,307.45</td></tr></tbody></table></figure>



Insights From Analysts



According to the analysts at BlackRock, strong corporate earnings have set the tone for the fourth-quarter season in swing.



&#8220;Even with higher-for-longer interest rates, we think U.S. stocks can keep outperforming this year. We stay overweight. Resilient economic growth is helping sectors beyond tech. That's partly driven by artificial intelligence (AI) spurring earnings beyond the initial winners during an economic transformation and policy change, we think. Yet we eye risks to risk appetite changing this year depending on earnings and policy.&#8221;



With interest rates in focus Ed Yardeni and Eric Wallerstein of Yradeni Research, said in their QuickTakes note that Fed Chair Jerome Powell&#8217;s basic message during his press conference was that the Fed is in no hurry to lower interest rates, but the Fed still intends to lower them over time.



Hence, they described it as a &#8220;dovish pause&#8221;.



Approaching the week from a technical perspective Jeff Buchbinder, the chief equity strategist at LPL Financial said that the S&amp;P 500 remains near record-high territory amid improving market breadth and momentum. &#8220;Technical damage within the heavy-weight tech sector has been minimal as buyers stepped up near support from the mid-January lows.&#8221;



Despite Monday's pullback, sector breadth is also holding up relatively well, with the majority of tech stocks trading above their 200-day moving average, Buchbinder added.



&#8220;However, technical damage has been more pronounced on a relative basis, as the tech sector vs. S&amp;P 500 ratio chart recently dropped to multi-month lows,&#8221; he said.



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



Upcoming Economic Data



Here&#8217;s what investors will keep an eye on Friday:



<ul>
<li>Fed Governor Michelle Bowman will be speaking at 8:30 a.m., ET.</li>
</ul>



<ul>
<li>Employment cost index data for Q4 will be released at 8:30 a.m., ET.</li>
</ul>



<ul>
<li>Also, the core and headline personal consumption expenditure, along with personal income and spending data will be announced at 8:30 a.m., ET.</li>
</ul>



<ul>
<li>The Chicago Business Barometer (PMI) for January will be out by 9:45 a.m., ET.</li>
</ul>



Stocks In Focus:



<ul>
<li>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) was up 3.46% in the premarket on Friday after beating the first-quarter expectations on Tuesday, despite a slip in iPhone sales.</li>
</ul>



<ul>
<li>Colgate-Palmolive Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CL#NYSE">CL</a>) was up 0.03% as Wall Street expects it to report earnings of 89 cents per share on revenue of $4.99 billion, before the opening bell.</li>
</ul>



<ul>
<li>Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>) fell 0.86% ahead of its earnings to be released before the opening bell. Analysts expect it to report quarterly earnings of 23 cents per share on revenue of $32.24 billion.</li>
</ul>



<ul>
<li>Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) was down 0.17% as Wall Street expects it to report earnings of $2.11 per share on revenue of $48.41 billion, before the opening bell.</li>
</ul>



<ul>
<li>Other companies that are slated to report earnings today included Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) up 0.6%, Novartis AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>) up 1.49%, Charter Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) up 2.09%, AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) up 0.99%, WW Grainger Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWW#NYSE">GWW</a>) up 1.05% and Charter Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) up 2.09%.</li>
</ul>



<ul>
<li>Nauticus Robotics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KITT#NASDAQ">KITT</a>) was up 46.15% after announcing a partnership to advance subsea autonomy solutions.</li>
</ul>



<ul>
<li>Cipher Mining Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CIFR#NASDAQ">CIFR</a>) was up 19.57% after the company announced a $50 million investment from Softbank.</li>
</ul>



Commodities, Gold And Global Equity Markets:



Crude oil futures were trading lower in the early New York session by 0.08% to hover around $72.67 per barrel.



The gold spot index was down by 0.08% to $2,791.94 per ounce. The Dollar Index was up 0.42% at 108.246 level.



Asian markets were higher on Friday except South Korea's Kospi index. Australia's ASX 200, Japan's Nikkei 225, South Korea's Kospi, Hong Kong's Hang Seng, and India's S&amp;P BSE Sensex rose. European markets were also higher in trade.



Read Next:



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<li><a href="https://www.benzinga.com/25/01/43376448/elon-musks-x-money-to-see-about-600-million-active-monthly-users-via-visa-direct-integration">Elon Musk&#8217;s &#8216;X Money&#8217; To See About 600 Million Active Monthly Users Via Visa Direct Integration: &#8216;Excited To Partner,&#8217; Says CEO</a></li>
</ul>



Photo courtesy: Shutterstock

Market Summary

Futures

Forex

Treasuries

Pre-Market Outlook

CIFR

KITT

MSFT

US Stock Futures Climb After Apple Beats Q1 Expectations: Expert Says Tech Stocks Hold Above Key Level Despite DeepSeek Impact

On Thursday, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) CEO Tim Cook lauded DeepSeek, a China-based AI startup.



What Happened: During Apple's <a href="https://in.benzinga.com/news/earnings/25/01/43355688/apple-q1-earnings-revenue-beat-eps-beat-iphone-sales-slip-installed-base-climbs-to-all-time-high-our-best-quarter-ever">first-quarter earnings</a> call, Cook was asked about the perception that Cupertino is benefiting from lower compute costs.



The analyst inquired about Cook&#8217;s perspective on the DeepSeek situation and whether any changes in the cost landscape could impact Apple's margins.



In response, the Apple CEO detailed the company's use of a hybrid AI model, where simple tasks are executed locally on devices, while complex operations are managed in the cloud through AI partnerships.



Currently, Apple collaborates with OpenAI, leveraging ChatGPT to assist iPhone users via a private cloud.



See Also:&nbsp;<a href="https://www.benzinga.com/news/legal/25/01/43325503/mark-zuckerbergs-meta-pays-trump-25-million-to-settle-lawsuit-over-facebook-instagram-ban-after-jan-6-riot-a-big-year-for-redefining-our-relationships-with-governments" target="_blank" rel="noreferrer noopener">Mark Zuckerberg's Meta Pays Trump $25 Million To Settle Lawsuit Over Facebook, Instagram Ban After Jan. 6 Riot: ‘A Big Year For Redefining Our Relationships With Governments'</a>



"From a CapEx point of view, we&#8217;ve always taken a very prudent and deliberate approach to our expenditure and we continue to leverage a hybrid model, which I think continues to serve us well," Cook stated.



Despite <a href="https://www.benzinga.com/25/01/43296041/openai-alleges-deepseek-used-proprietary-models-without-permission-as-microsoft-investigates-ai-security-risks">OpenAI&#8217;s accusation of DeepSeek</a> using its models without permission, Cook acknowledged DeepSeek&#8217;s contributions.



"In general, I think innovation that drives efficiency is a good thing. And, you know, that's what you see in that model," he said on the earnings call.



Why It Matters: Apple has previously indicated that it is <a href="https://www.benzinga.com/media/24/11/42030331/heres-when-google-gemini-could-be-integrated-with-apple-intelligence">open to incorporating AI models</a> from other companies, like Google's Gemini or Anthropic's Claude, into future iPhones.



<a href="https://www.benzinga.com/tech/25/01/43296460/dan-ives-says-chinese-startup-deepseeks-6-million-ai-development-assertion-is-likely-a-fictional-story">DeepSeek claims to have developed</a> its cost-efficient R1 model in just two months with an investment of $5.6 million. While these claims have been scrutinized they have also raised questions about the need for large-scale GPU investments.



Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.



On Wednesday, Meta CEO Mark Zuckerberg also <a href="https://www.benzinga.com/markets/25/01/43326499/mark-zuckerberg-says-chinas-deepseek-did-some-novel-things-were-still-digesting-but-meta-may-keep-pouring-billions-into-ai-infrastructure-anyway">acknowledged DeepSeek&#8217;s novel approaches</a>. However, he said it's too soon to determine how these developments will impact infrastructure usage and capital expenditures.



Microsoft CEO Satya Nadella also recognized DeepSeek&#8217;s AI innovations but remained cautious about their <a href="https://www.benzinga.com/tech/25/01/43327016/microsoft-ceo-satya-nadella-accepts-deepseek-ai-has-some-real-innovations-but-wont-say-if-they-mark-a-turning-point-for-ai-cost-reduction">potential to reduce AI costs</a>.



Apple&#8217;s earnings report revealed a fiscal first-quarter <a href="https://in.benzinga.com/news/earnings/25/01/43355688/apple-q1-earnings-revenue-beat-eps-beat-iphone-sales-slip-installed-base-climbs-to-all-time-high-our-best-quarter-ever">revenue of $124.3 billion</a>, surpassing analyst estimates, despite a decline in iPhone sales.



Price Action: Apple's stock rose by 3.01% in after-hours trading, hitting $244.75. In regular trading on Thursday, it closed at $237.59, reflecting a 0.74% decline, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.



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



Image via Shutterstock



Read Next:



<ul>
<li><a href="https://www.benzinga.com/tech/25/01/43221770/apples-ipad-turns-15-today-heres-a-throwback-to-when-steve-jobs-explained-called-it-the-third-category-after-phones-and-notebooks" target="_blank" rel="noreferrer noopener">Apple's iPad Turns 15 Today: Here's A Throwback To When Steve Jobs Explained Called It The ‘Third Category' After Phones And Notebooks</a></li>
</ul>



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

Tim Cook Praises China's DeepSeek For Driving Efficiency, Stresses Apple's 'Prudent And Deliberate' Approach Toward Capital Expenditure

President Donald Trump has resurfaced his old threat of imposing 100% tariffs on the BRICS nations via Truth Social, the social media platform owned by his company Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>). But this fund manager, while agreeing with his views asks how the will U.S. manage the production of essential goods.



What Happened: Trump, who had issued the 100% tariff threat earlier in December, <a href="https://www.benzinga.com/general/market-summary/24/12/42405749/bitcoin-far-more-of-a-threat-than-a-brics-reserve-currency-says-jeremy-siegel-find-it-curious-that-trump-championed-btc-at-100k">warned the BRICS nations again</a>, calling them &#8220;hostile,&#8221; for planning a combined BRICS currency.



<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/31031532/Screenshot-2025-01-31-at-1.45.23%E2%80%AFPM-1024x348.png" alt="" class="wp-image-759658"/></figure>



Aditya Sesh, founder and managing director of Basiz Fund&nbsp;Services, told <a href="https://www.benzinga.com/">Benzinga</a> that the U.S. is justified in using tariffs to protect the dollar&#8217;s strength and promote reciprocal trade, aiming to boost American exports and improve negotiating leverage for the country.



However, Sesh out that &#8220;Assuming 100% tariffs are imposed, how will the U.S. manage production from Slippers to Ships? Will American factories come up so quickly, and if so, at what cost? What about the inflationary impact of consumables in the U.S. when imports become expensive? It will also impact not just the American capital markets but also global capital markets.&#8221;



Trump announced Thursday that the <a href="https://www.benzinga.com/government/regulations/25/01/43353698/trump-slaps-25-tariffs-on-canada-mexico-loonie-peso-slide-oil-climbs">U.S. will implement a 25% tariff </a>on imports from Canada and Mexico, effective Saturday, Feb. 1. The decision comes in line with Trump&#8217;s pledge to impose tariffs, citing concerns over illegal immigration, trade imbalances, and fentanyl trafficking from Canada and Mexico.



BRICS, an intergovernmental organization, comprises nine countries including Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, and the United Arab Emirates.



Trump, in his post, drew a firm line, demanding a commitment from these nations to abandon such efforts. He also suggested these nations find &#8220;another sucker nation&#8221; to trade with, emphasizing the importance of access to the US economy.



The statement expresses confidence that the BRICS nations will be unsuccessful in their attempts to displace the dollar in international trade. It concludes with a stark warning: any country that attempts to challenge the dollar&#8217;s position should expect a severed trading relationship with the U.S.



See Also: <a href="https://www.benzinga.com/25/01/43376448/elon-musks-x-money-to-see-about-600-million-active-monthly-users-via-visa-direct-integration">Elon Musk&#8217;s &#8216;X Money&#8217; To See About 600 Million Active Monthly Users Via Visa Direct Integration: &#8216;Excited To Partner,&#8217; Says CEO</a> 



Why It Matters: U.S. economists, back in December had questioned Trump&#8217;s views on this matter. Jeremy Siegel, in a <a href="http://-https://www.benzinga.com/general/market-summary/24/12/42405749/bitcoin-far-more-of-a-threat-than-a-brics-reserve-currency-says-jeremy-siegel-find-it-curious-that-trump-championed-btc-at-100k">note </a><a href="https://www.benzinga.com/general/market-summary/24/12/42405749/bitcoin-far-more-of-a-threat-than-a-brics-reserve-currency-says-jeremy-siegel-find-it-curious-that-trump-championed-btc-at-100k">dated</a> Dec. 9, 2024, argued that Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) posed a greater threat to the dollar&#8217;s reserve currency status than any BRICS initiative.



A senior economist at WisdomTree and former professor at the University of Pennsylvania, Siegel <a href="https://resources.wisdomtree.com/weekly-siegel-commentary/archive-december-9-2024">said</a> that he finds it contradictory that Trump threatens BRICS nations with tariffs for seeking a new reserve currency, while simultaneously supporting Bitcoin, a similar alternative global currency.



Similarly, in his X post dated Dec. 4, Peter Schiff, who is the chief economist and global strategist at Europac.com said that Trump has &#8220;the relationship backwards&#8221; and the BRICS nations are at a disadvantage, exchanging valuable goods for U.S. fiat currency, which is subject to inflation. The U.S. receives tangible products it cannot produce domestically, while the BRICS nations receive currency that loses value, he added.



<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">You have the relationship backwards. The BRICS nations are the suckers for accepting our fiat currency for their real consumer goods. We get actual products that make our lives better, that we lack the capacity to produce ourselves. All they get in return is our inflation.&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1864269213696708985?ref_src=twsrc%5Etfw">December 4, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Meanwhile, the SPDR S&amp;P 500 ETF Trust (ARCA SPY) slipped in late trading Thursday as investors weighed the economic fallout from rising trade tensions between the longstanding



Read Next:



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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43333849/microstrategy-is-a-lever-for-the-believer-says-mizuho-initiates-coverage-on-bitcoins-levered-play-with-an-outperform-rating">MicroStrategy Is A ‘Lever For The Believer,' Says Mizuho, Initiates Coverage On Bitcoin's Levered Play With An ‘Outperform' Rating </a></li>
</ul>



Photo by lucky_xtian on Shutterstock

Macro Notification

Social Media

After Imposing Tariffs On Canada, Donald Trump Threatens 100% Levy On BRICS For Move Against Dollar: 'How Will US Manage Production From Slippers To Ships?,' Asks Expert

Leading cryptocurrencies lost their early gains on Thursday as investors awaited the release of crucial inflation data.



<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 7:45 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+0.03%</td><td>$104,582.18</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>+3.95%</td><td>$3,267.77</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>+0.05%</td><td>$0.3308</td></tr></tbody></table></figure>



What Happened: Bitcoin broke through $106,000 in the morning before falling back to the $104,000 region. Popular dog-themed meme coin Dogecoin witnessed a similar price pattern.



Ethereum, on the other hand, sustained its gains, rising nearly 4% in the last 24 hours.



About $86 million in short bets were wiped out in the last 24 hours, out of a total of $143 million in cryptocurrency liquidations.



Interestingly, traders placing short bets on Bitcoin rose against those gunning for price increases, according to the Long/Short Ratio.



That said, if Bitcoin reclaims its all-time high, more than $530 million in short positions will be liquidated.



"Extreme Greed" emotion dominated the market, according to the reading on the Crypto Fear &amp; Greed Index, sparking concerns of a further 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 7:45 p.m. ET)</td></tr><tr><td>DeXe (DEXE)</td><td>+30.15%</td><td>$20.80</td></tr><tr><td>JasmyCoin (JASMY)</td><td>+29.66%</td><td>$0.03193</td></tr><tr><td>Arweave (AR)</td><td>+27.44%</td><td>$16.46</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.57 trillion, growing by 1.92% in the last 24 hours.



Stocks closed in the green on Thursday. The Dow Jones Industrial Average added 136.83 points, or 0.38%, to close at 44,882.13. The S&amp;P 500 gained 0.53% to end at 6,071.17. The tech-focused Nasdaq Composite popped 0.25% to 19,681.75.



The uptick came as investors parsed the earnings of the "Magnificent 7" companies. Shares of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) rose 2.87% and 1.55%, respectively.



The focus now shifts to Friday's personal consumption expenditures index report, considered the Federal Reserve's preferred inflation gauge.



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



Analyst Notes: Popular cryptocurrency analyst and trader Ali Martinez emphasized the "critical importance" of $97,877 for Bitcoin, stating that a sizable amount of the apex cryptocurrency was scooped at this level.



"If it holds, the bull run could continue," Martinez predicted. "However, a break below $97,877 and $91,700 could put the entire bull market in jeopardy."



<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">With a significant amount of <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> accumulated at $97,877, this level holds critical importance. If it holds, the bull run could continue. However, a break below $97,877 and $91,700 could put the entire bull market in jeopardy.<a href="https://t.co/adz1GAiTFL">https://t.co/adz1GAiTFL</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1884901807228436492?ref_src=twsrc%5Etfw">January 30, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Another influential cryptocurrency trader, Michaël van de Poppe, ruled out the possibility of Bitcoin having 30% corrections this cycle.



"The markets become larger, through which a lot more liquidity is added and Bitcoin becomes more &#8216;boring&#8217;. Just a gradual upward pace," the trader noted.



Van De Poppe forecast that a Bitcoin peak could come either in the fourth quarter of 2025 or early 2027.



<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 don&#39;t think we&#39;ll have many 30% corrections on <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> during this cycle. The markets become larger, through which a lot more liquidity is added and Bitcoin becomes more &#39;boring&#39;. Just a gradual upwards pace. Either Bitcoin peaks in Q4 2025 or somewhere beginning 2027.&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1885005301436531134?ref_src=twsrc%5Etfw">January 30, 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/23/06/32811591/winklevoss-twins-say-elizabeth-warren-and-gary-genslers-war-on-crypto-will-cost-democrats-">Winklevoss Twins Say Elizabeth Warren And Gary Gensler&#8217;s War On Crypto &#8216;Will Cost Democrats 2024 Election&#8217;</a></li>
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Bitcoin, Dogecoin Trade Flat, Ethereum Rises Ahead Of Fed's Preferred Inflation Gauge Release: Will Bitcoin Peak In Early 2027?

On Thursday, Cathie Wood-led Ark Invest made significant trades involving Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>).



The Palantir Trade



Ark Invest&#8217;s decision to sell Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) shares on Thursday comes amid a backdrop of competitive pressures in the AI space. 



Recently, Palantir has <a href="https://www.benzinga.com/25/01/43234047/palantir-stock-is-falling-monday-whats-going-on">faced challenges</a> from Chinese startup DeepSeek, which has introduced a high-performance AI computing solution at a lower cost. This development has caused some concern among investors, leading to fluctuations in Palantir&#8217;s stock price.



Ark Invest executed a sale of 127,969 Palantir shares worth $10.4 million through its flagship ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>). The stock closed at $81.22 on Thursday, January 30, marking a 1.83% increase from the previous day.



Notably, Ark has been on a Palantir share-selling spree. In early January, the firm had <a href="https://www.benzinga.com/25/01/42835519/cathie-woods-monday-moves-dumps-15m-worth-of-hot-stock-palantir-loads-up-amazon-com">sold $14.93 million worth</a> of the Alex Karp-led technology company&#8217;s shares.



Other Key Trades:



<ul>
<li>10X Genomics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXG#NASDAQ">TXG</a>) &#8211; Ark Invest purchased 314,472 shares through the ARKK fund and 55,354 shares via the ARKG fund. </li>



<li>Roblox Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>) &#8211; Sold 33,404 shares from the ARKK fund. </li>



<li>Archer Aviation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACHR#NYSE">ACHR</a>) &#8211; Sold 57,238 shares from the ARKK fund.</li>



<li>Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) &#8211; Acquired 8,304 shares through the ARKW fund.</li>
</ul>



Photo courtesy: Shutterstock



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<li><a href="https://www.benzinga.com/government/regulations/25/01/43353698/trump-slaps-25-tariffs-on-canada-mexico-loonie-peso-slide-oil-climbs">Trump Slaps 25% Tariffs On Canada, Mexico: Loonie, Peso Slide, Oil Climbs</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>

ACHR

ARKK

PLTR

QCOM

RBLX

Cathie Wood's Ark Invest Dumps Over $10 Million Worth Of Palantir Stock As AI Competition Heats Up

Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) reported first-quarter financial results after the market close on Thursday. Here&#8217;s a look at the key <a href="https://www.benzinga.com/pressreleases/25/01/b43354083/apple-reports-first-quarter-results">metrics from the quarter</a>.



Q1 Earnings: Apple reported fiscal first-quarter revenue of $124.3 billion, beating analyst&nbsp;<a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">estimates</a> of $124.13 billion. The iPhone maker reported first-quarter adjusted earnings of $2.40 per share, beating analyst estimates of $2.36 per share.



Apple has now beat analyst estimates on the top and bottom lines in eight consecutive quarters, according to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.



Total revenue was up 4% year-over-year, and earnings per share climbed 10% year-over-year. Americas sales totaled $52.65 billion in the quarter, Europe sales came in at $33.86 billion, Greater China sales were $18.51 billion, Japan sales totaled $8.99 billion and the rest of Asia Pacific sales were $10.29 billion.



Products revenue came in at $97.96 billion, up from $96.46 billion year-over-year. Services revenue totaled $26.34 billion, up from $23.12 billion year-over-year. Here's a breakdown of product sales by category:



<ul>
<li>iPhone:&nbsp;$69.14 billion, versus $69.7 billion last year</li>



<li>Mac:&nbsp;$8.99 billion, versus $7.78 billion last year</li>



<li>iPad:&nbsp;$8.09 billion, versus $7.02 billion last year</li>



<li>Wearables, Home and Accessories:&nbsp;$11.75 billion, versus $11.95 billion last year</li>
</ul>



Apple noted that its active installed base of devices reached a new all-time high across all products and geographic segments.



&#8220;Today Apple is reporting our best quarter ever, with revenue of&nbsp;$124.3 billion, up&nbsp;4 percent&nbsp;from a year ago,&#8221; said Tim Cook, CEO of Apple. 



&#8220;Through the power of Apple silicon, we&#8217;re unlocking new possibilities for our users with Apple Intelligence, which makes apps and experiences even better and more personal. And we&#8217;re excited that Apple Intelligence will be available in even more languages this April.&#8221;



See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43347509/tesla-stock-analysts-highlight-fsd-robotaxis-new-vehicles-for-growth-elon-has-never-sounded-so-bullish">Tesla Analysts Highlight FSD, Robotaxis, New Vehicles For Growth: &#8216;Elon Has Never Sounded So Bullish&#8217;</a>



Apple's board declared a quarterly cash dividend of&nbsp;25 cents&nbsp;per share. The dividend is payable on Feb. 13 to shareholders of record as of Feb. 10.



Apple didn't provide forward guidance in its first-quarter earnings release, but the company typically provides commentary on the conference call on how it generally expects its different product lines to perform moving forward. Apple's call with analysts and investors will start at 5 p.m. ET.



AAPL Price Action: <a href="http://benzinga.com/quote/aapl">Apple shares</a> were volatile following the release. The stock was down 0.35% after-hours, trading at $236.76 at the time of publication Thursday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>. 



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="&#x1f534; WATCH LIVE: Apple Q1 2025 Earnings Call &#x7C; $AAPL" width="500" height="281" src="https://www.youtube.com/embed/DCP8UZ6Cfp0?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>



Read Next:



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<li><a href="https://www.benzinga.com/trading-ideas/movers/25/01/43348950/wall-street-remains-flat-microsoft-eyes-heaviest-drop-since-late-2022-gold-sets-fresh-records">Wall Street Remains Flat, Microsoft Eyes Heaviest Drop Since Late 2022, Gold Sets Fresh Records: What&#8217;s Driving Markets Thursday?</a></li>
</ul>



Photo: Courtesy of Apple.

After-Hours Center

Apple Q1 Earnings: Revenue Beat, EPS Beat, iPhone Sales Slip, Installed Base Climbs To All-Time High — 'Our Best Quarter Ever'

It was in the air, but now it's official. President Donald Trump confirmed Thursday the United States will impose 25% tariffs on imports from Canada and Mexico <a href="https://www.benzinga.com/topic/donald-trump">starting Saturday, Feb. 1.</a>



The move follows Trump's promise to impose tariffs due to concerns over illegal immigration, wide trade deficits and fentanyl trafficking from both countries.



Data from TradingEconomics shows the U.S. imported $429.6 billion in goods from Canada in 2023 and $480 billion from Mexico. This makes Mexico the largest U.S. trading partner in terms of imports, followed by China at $448 billion and Canada in third place.



As reported by <a href="https://www.bloomberg.com/news/articles/2025-01-30/trump-says-he-ll-hit-canada-mexico-with-25-tariffs-on-saturday?srnd=phx-politics">Bloomberg</a>, Trump laid out three reasons for the tariffs during an interview with reporters on Thursday:



<ol>
<li>Illegal immigration: &#8220;People have poured into our country so horribly and so much.&#8221;</li>



<li>Drug trafficking: &#8220;Fentanyl and everything else that have come into the country.&#8221;</li>



<li>Trade deficits: &#8220;The massive subsidies that we're giving to Canada and Mexico in the form of deficits.&#8221;</li>
</ol>



Trump also suggested the tariff rate could increase over time and said a decision on Canadian oil tariffs would be made later in the day, depending on oil prices. 



&#8220;We don't need the products that they have. We have all the oil that you need. We have all the trees you need,&#8221; he added, referring to major Canadian exports.



<h3 class="wp-block-heading">Market Reactions: Peso, Loonie Drop; Oil Surges</h3>



Markets reacted sharply to the news. The Canadian dollar – as tracked by the Invesco CurrencyShares Canadian Dollar Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXC#NYSE">FXC</a>) – weakened by 0.6%, with the USD/CAD exchange rate rising to 1.4480. The Mexican peso slid by over 1%, pushing USD/MXN to 20.60.



The U.S. dollar index (DXY) gained, indicating the greenback&#8217;s strength across currencies.



WTI oil futures – as closely tracked by the United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) – saw an immediate uptick before slightly paring back those gains.



The S&amp;P 500 index – tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) – fell minutes prior to the New York close.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="503" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/30161450/image-265-1024x503.png" alt="" class="wp-image-759027" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/30161450/image-265-1024x503.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/30161450/image-265-300x147.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/30161450/image-265-768x377.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/30161450/image-265-1536x754.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/30161450/image-265.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



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<li><a href="https://www.benzinga.com/news/econ-s/25/01/43348204/gold-hits-record-high-as-central-banks-ease-stance-5-mining-stocks-rally">Gold Hits Record High As Central Banks Ease Stance: 5 Mining Stocks Rally</a></li>
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The Ambassador Bridge between Detroit, Michigan and Windsor, Ontario. Photo via Shutterstock.

Trump Slaps 25% Tariffs On Canada, Mexico: Loonie, Peso Slide, Oil Climbs

DeepSeek took the investing world by storm over the past week with technology stocks facing a major selloff on Monday as the company's AI technology <a href="https://www.benzinga.com/markets/asia/25/01/43243584/deepseek-r1-vs-openai-what-consumers-need-to-know-about-ais-latest-challenger">showed strong results.</a>



The Chinese AI company now faces several potential battles and a new one concerning the trademark of the company's name could be next on the list.



What Happened: Since launching in the U.S., DeepSeek has been targeted by the White House as a potential <a href="https://www.benzinga.com/25/01/43293506/chinas-deepseek-under-white-house-scrutiny-over-potential-national-security-risks">national security risk.</a>



The company has also been <a href="https://www.benzinga.com/25/01/43296041/openai-alleges-deepseek-used-proprietary-models-without-permission-as-microsoft-investigates-ai-security-risks">accused of IP theft</a> by rival AI company OpenAI.



While DeepSeek's future in the U.S. faces scrutiny, a new issue is brewing with a report that the company does not own the trademark for its company name.



While DeepSeek quickly gained name recognition in the last week and saw its app shoot to the top of the downloads chart, the startup could be forced to change its name in the future.



The trademark for "DeepSeek" is owned by a Delaware-based company named Delson Group, as <a href="https://techcrunch.com/2025/01/29/deepseek-might-have-a-trademark-problem-in-the-u-s/">reported </a>by TechCrunch.



The trademark by Delson Group was filed days before DeepSeek put in their request on Tuesday with the U.S. Patent and Trademark Office.



Delson Group claims in their trademark filing that they have sold AI products under the DeepSeek name since early 2020. The company's CEO and founder Willie Lu also hosts educational courses on "AI Super-Intelligence" using the DeepSeek name according to the filing.



Read Also: <a href="https://www.benzinga.com/trading-ideas/movers/25/01/43289107/will-deepseek-hurt-magnificent-7-stocks-valuation">EXCLUSIVE: Will DeepSeek Hurt Magnificent 7 Valuations? 57% Say This</a>



Why It's Important: Trademark law in the U.S. often favors the first user of a trademark.



"While DeepSeek could potentially seek a coexistence agreement if they can prove they operate in different aspects of AI than Delson Group, the U.S. company has several advantages," lawyer Josh Gerben told TechCrunch. "They filed first, they claim earlier use – 2020 versus DeepSeek's claimed 2023 start date – they have a live website showing AI-related activities, including training events."



Delson Group could potentially sue to block DeepSeek from using their brand name in the U.S. due to the trademark filing, Gerben added.



The report said that a search for Delson Group uncovered the company has a history of trademark squatting, mainly with securing trademarks for the names of Chinese companies in the U.S.



Examples include trademarks for Tencent, Geely and China Mobile. Delson Group has around 28 current trademarks registered according to the report.



While certain cases of trademark squatting can be proven illegal and end trademark claims, the fact that Delson Group has been using the DeepSeek name and establishing an AI presence for the brand over the years could create a battle for the name that many Americans became more familiar with on Monday.



Read Next: 



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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43340327/meta-vs-microsoft-can-their-ai-infrastructure-plans-hold-up-against-deepseek">Meta Vs. Microsoft: Can Their AI Infrastructure Plans Hold Up Against DeepSeek?</a></li>
</ul>



Image: Shutterstock

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DeepSeek Doesn't Own Name Trademark In US: Could This Be The Next Battle Alongside IP Theft Allegations?

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