French equities dropped on Monday after Moody's downgraded France's credit rating to Aa3, citing worsening public <a href="https://www.benzinga.com/markets/eurozone">finances and political instability.</a>



The CAC 40 index, which tracks France's largest companies and is mirrored by the iShares MSCI France Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWQ#NYSE">EWQ</a>), fell 0.9% by 8:20 a.m. in New York, eyeing its third straight session in the red.



<h3 class="wp-block-heading">Moody's: France's Fiscal Challenges Are Escalating</h3>



In a report issued on Saturday, Moody's highlighted France's high debt burden, ongoing political instability, and diminished ability to consolidate public finances as key drivers for the downgrade.



See Also: <a href="https://www.benzinga.com/24/12/42504194/us-stocks-to-open-higher-ahead-of-feds-decision-this-week-analyst-says-santa-comes-later-in-december">US Stocks To Open Higher Ahead Of Fed&#8217;s Decision This Week: Analyst Says &#8216;Santa Comes Later In December&#8217;</a>



The outlook was revised from negative to stable, signaling that no further changes to the rating are imminent in the near term.



According to the credit rating agency, France&#8217;s public finances are expected to deteriorate over the next three years, with fiscal deficits likely to remain elevated due to political fragmentation. Moody&#8217;s forecasts that efforts to cut deficits will stall, diverging from its previous projections in October 2024.



&#8220;The decision to downgrade France&#8217;s ratings to Aa3 reflects our view that the country&#8217;s public finances will be substantially weakened over the coming years. This is because political fragmentation is more likely to impede meaningful fiscal consolidation,&#8221; the agency wrote in the report. &nbsp;



<h3 class="wp-block-heading">Political Turmoil Deepens Fiscal Concerns</h3>



The downgrade followed a historic no-confidence vote in the National Assembly, which led to the ousting of Prime Minister Michel Barnier and his minority government last week. 



Barnier's controversial 2025 austerity budget, which aimed to reduce the deficit to 5% of GDP, down from 6.1% in 2024, through €60 billion in spending cuts and tax hikes, faced fierce opposition from both left-wing and far-right lawmakers.



President Emmanuel Macron <a href="https://www.benzinga.com/news/global/24/12/42486154/macron-taps-bayrou-to-navigate-frances-fractured-politics-etfs-to-watch">responded by appointing</a> François Bayrou, a centrist and longtime ally, as the new prime minister—his fourth this year. Bayrou, known for his criticism of France's fiscal trajectory, acknowledged the &#8220;Himalayan&#8221; challenge of stabilizing public finances, signaling that austerity efforts may face further political resistance.



<h3 class="wp-block-heading">Key Risks to Watch Ahead</h3>



France&#8217;s downgrade to Aa3 introduces a fresh set of challenges that could ripple through its economy and beyond, starting with the threat of rising borrowing costs. 



Yields on 10-year French sovereign bonds are currently trading slightly above 3%, marking a spread of about 80 basis points versus German bunds. 



This increase in financing costs would add pressure to an already fragile fiscal position, further straining the government's ability to manage its towering public debt, which currently exceeds 112% of the gross domestic product.



The second, and perhaps more daunting, risk is continued political instability. With no parliamentary majority, Prime Minister François Bayrou will struggle to pass critical fiscal reforms, risking delays in deficit reduction.



The repercussions of France&#8217;s fiscal and political troubles could extend far beyond its borders, potentially triggering a European spillover effect. As the eurozone&#8217;s second-largest economy, France plays a pivotal role in the bloc's overall economic health.



On Monday the Euro Stoxx 600 index – as broadly tracked by the iShares MSCI Eurozone ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EZU#NYSE">EZU</a>) – slipped 0.4%.



Now Read:



<ul>
<li><a href="https://www.benzinga.com/24/12/42502841/wedbush-analyst-raises-teslas-price-target-to-515">Tech Bull Raises Tesla Price Target To $515, Predicts $1 Trillion AI Opportunity Under Trump White House: &#8216;Total Game Changer&#8217;</a></li>
</ul>



Image: Shutterstock

Specialty ETFs

Eurozone

ETFs

France's Credit Rating Downgrade Sparks Market Unease: 'Public Finances Will Be Materially Weaker'

U.S. listed Chinese stocks Alibaba Group Holding. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), JD.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) and Baidu, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>), NIO Inc. (NYSE:&nbsp;NIO),&nbsp;Li Auto Inc.&nbsp;(NASDAQ:&nbsp;LI),&nbsp;and XPeng Inc.&nbsp;(NYSE:&nbsp;XPEV) stocks are trading lower on Monday.



The data shows that China&#8217;s economic growth slowed in November. Key indicators such as retail sales and property investment underperformed expectations.



The National Bureau of Statistics (NBS) reported a 3% year-on-year increase in November retail sales, down from October&#8217;s 4.8% growth and missing economists&#8217; estimates of 5.3%.



Also Read: <a target="_blank" href="https://www.benzinga.com/24/12/42468572/netflix-adjusts-parental-leave-policy-amid-cultural-and-financial-shifts" rel="noreferrer noopener">Netflix Adjusts Parental Leave Policy, But There Is A Catch</a>



Fixed-asset investment growth for the year through November rose by 3.3%, while property investment declined by 10.4%, reflecting persistent challenges in the real estate sector, SCMP <a target="_blank" href="https://www.scmp.com/economy/economic-indicators/article/3290925/chinas-retail-sales-november-miss-estimate-30" rel="noreferrer noopener">reports</a>.



NBS spokesperson Fu Linghui attributed the weaker retail sales to the early timing of China&#8217;s &#8220;Double 11&#8221; shopping festival, which shifted some spending to October as per SCMP.



However, Fu emphasized that combined sales figures for October and November showed more substantial growth compared to the third quarter.



Despite this, he acknowledged the need to stabilize employment and incomes to fully unleash domestic demand, citing an increasingly complex external environment and insufficient internal demand as ongoing challenges.



At China&#8217;s annual Central Economic Work Conference (CEWC) last week, leaders prioritized <a target="_blank" href="https://www.benzinga.com/government/regulations/24/12/42460099/us-listed-chinese-stocks-give-up-gains-in-anticipation-of-more-stimulus-to-beat-us-tariffs" rel="noreferrer noopener">boosting consumption</a>, enhancing investment efficiency, and expanding domestic demand as top economic goals for 2025.



Industrial production rose 5.4% year-on-year in November, slightly exceeding October&#8217;s 5.3% increase, while the urban unemployment rate remained steady at 5%.



Experts, including Ding Shuang of Standard Chartered, told the SCMP that retail sales have returned to a subdued pace, suggesting that broader policy measures are needed to boost consumer confidence and stabilize key markets like property and stocks.



China&#8217;s economic outlook for 2025 faces external headwinds, including geopolitical tensions, semiconductor embargo and tariff threats from U.S. President-elect Donald Trump.



Price Actions: At the last check on Friday, BABA stock is down 1.80% to $86.24. JD is down 1.23%, BIDU is down 1.67%, LI is down 1.67%, and XPEV is down 0.81%.



Also Read:



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<li><a href="https://www.benzinga.com/24/12/42468724/warner-bros-discovery-restructures-with-focus-on-streaming-and-tv-divisions-stock-shoots-up" target="_blank" rel="noreferrer noopener">Warner Bros. Discovery Stock Spikes As Board OKs Restructuring Plan</a></li>
</ul>



Photo by asiandelight on Shutterstock

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News

Regulations

Emerging Markets

Movers

Tech

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Trading Ideas

BABA

BIDU

US-Listed Chinese Stocks React To Underwhelming Consumption Data

Satoshi Action Fund CEO and co-founder Dennis Porter on Sunday revealed that President elect Donald Trump is exploring the possibility of issuing an executive order to create a <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42487721/bitcoin-much-better-than-gold-as-reserve-asset-says-crypto-hedge-fund-founder">Strategic Bitcoin Reserve (SBR)</a>.



The move would mark a significant shift in U.S. economic policy, positioning Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) as a core national asset.



"If he (Trump) doesn't act, we will be ready to apply pressure at the state level by creating a wave of Strategic Bitcoin Reserves," Porter <a href="https://x.com/Dennis_Porter_/status/1868351652258005166">stated</a> in a series of social media posts.



He emphasized the urgency of the initiative, adding, "We are in a race to SBR."



Porter's comments come as Trump has signaled openness to the concept, previously promising to end federal sales of seized Bitcoin and instead <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42220158/donald-trump-to-establish-a-national-bitcoin-reserve-pros-vs-cons-compared">build a permanent reserve.</a> 



Speaking at a summer conference, Trump said, "For too long, the government has violated the cardinal rule that every Bitcoin owner knows by heart: Never sell your Bitcoin." 



He described the proposed reserve as a "permanent national asset to benefit all Americans."



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42486061/always-pay-the-tax-man-bitcoin-investor-sentenced-to-two-years-for-tax-evasion-on-crypto-gains">Always Pay The Tax Man: Bitcoin Investor Sentenced To Two Years For Tax Evasion On Crypto Gains</a>



While the idea of a federal reserve garners attention, Porter stressed the importance of passing state-level legislation to solidify the framework. 



"Executive Orders get reversed when a new president takes over. They are worthless," he noted, advocating for a more durable legislative approach.



The campaign to establish Bitcoin reserves reflects growing interest in cryptocurrency as a strategic asset. 



Supporters argue that such reserves could strengthen the U.S. position in an increasingly digital global economy. 



"Applying pressure requires us to pass SBR laws,&#8221; Porter said.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42485534/riot-platforms-acquires-5117-bitcoin-for-510million">Riot Platforms Acquires 5,117 Bitcoin For $510 Million</a></li>
</ul>



Photo: Shutterstock

Cryptocurrency

$BTC

Trump Reportedly Considering Executive Order To Establish Strategic Bitcoin Reserve

Leading cryptocurrencies surged Sunday evening as investors raised risk appetites on strong expectations of another interest rate cut.



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 7:30 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+5.04%</td><td>$106,370.44</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>+3.51%</td><td>$3,992.72</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>+2.21%</td><td>$0.4033</td></tr></tbody></table></figure>



What Happened: Bitcoin tapped a new all-time high of $106,000, having earlier broken through the $102,000 resistance



Following in its footsteps, Ethereum rose above $4,000 before pulling back slightly.



Total cryptocurrency liquidations topped $309 million over the last 24 hours, out of which $204 million belonged to leveraged shorts.



The market started to get overleveraged, and any dip below $100,000 would liquidate over $1 billion in long positions.



Bitcoin's Open Interest soared by 7.48% in the last 24 hours. A rise in OI, coinciding with a price rally, indicated an influx of fresh money into the derivatives market.



Market sentiment remained in the "Extreme Greed" zone, as per the Cryptocurrency Fear &amp; Greed Index,



Top Gainers (24-Hours)



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 7:30 p.m. ET)</td></tr><tr><td>Fantom (FTM)</td><td>+20.94%</td><td>$1.47</td></tr><tr><td>Stacks (ETX)</td><td>+17.47%</td><td>$2.59</td></tr><tr><td>Ondo (ONDO)</td><td>+16.05%</td><td>$2.14</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.74 trillion, following an increase of 1.92% over the last 24 hours.



Stock futures traded near flatline Sunday evening. The Dow Jones Industrial Average Futures rose 46 points, or 0.10%, as of 8:40 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 rose 0.07%, while Nasdaq 100 Futures added only 0.04%.



This week, investors will focus on the year's last Federal Open Market Committee meeting, during which the central bank officials will decide on the benchmark interest rates.



Participants have priced in a 93.7% chance of a 0.25% cut to a 4.25%-4.50% range, <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">as per</a> the CME Fedwatch tool.



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



Analyst Notes: Amid Bitcoin's strong rally, influential cryptocurrency analyst Ali Martinez sparked concerns about a potential market top.



"Long-term Bitcoin holders often sell near market tops. Interestingly, in 2017 and 2021, their biggest sell-offs occurred right before the final leg-up," Martinez said, drawing parallels with ongoing patterns.



"Could we be on the verge of a similar pattern? Is this the start of a market top?"



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Long-term <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> holders often sell near market tops. Interestingly, in 2017 and 2021, their biggest sell-offs occurred right before the final leg up. Could we be on the verge of a similar pattern? Is this the start of a market top? <a href="https://t.co/3L0cFoNebs">pic.twitter.com/3L0cFoNebs</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1868455501140521439?ref_src=twsrc%5Etfw">December 16, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Another widely followed market observer, Michaël van de Poppe, predicted the "next wave" for altcoins.



"Yes, it&#8217;s time for a new move and, as the markets tend to move like this, but this move is going to be significantly bigger than the previous one," the analyst remarked.



<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">The <a href="https://twitter.com/hashtag/Altcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoin</a> markets are ready for their next wave. Yes, it&#39;s time for a new move and, as the markets tend to move like this, but this move is going to be significantly bigger than the previous one. Here&#39;s an ideal recipe on how to handle those moves, maximizing returns. The… <a href="https://t.co/bjhuhdJ5Kz">pic.twitter.com/bjhuhdJ5Kz</a>&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1868360673098625106?ref_src=twsrc%5Etfw">December 15, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



In the last 24 hours, Bitcoin dominance dropped by 4% to 55.9%, while the market share of altcoins rose 3.48% to 31.2%.



Read Next:&nbsp;&nbsp;&nbsp;&nbsp;



<ul>
<li><a href="https://www.benzinga.com/24/12/42470335/if-you-invested-1000-in-xrp-token-when-ashton-kutcher-surprised-ellen-degeneres-with-4m-charity-donation-heres-how-much-youd-have-today">If You Invested $1,000 In XRP Token When Ashton Kutcher Surprised Ellen DeGeneres With $4 Million Charity Donation, Here&#8217;s How Much You&#8217;d Have Today</a></li>
</ul>



Photo courtesy: Shutterstock

Markets

$DOGE

$ETH

Bitcoin Breaks $106K, Ethereum, Dogecoin Rally Ahead Of Key Fed Meet But Top Analyst Triggers Anxiety With This Observation

Wedbush Securities analyst and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) bull Dan Ives said on Sunday that he is raising the price target on the EV giant&#8217;s stock from $400 to $515. 



What Happened: &#8220;&#8230;we believe the Trump White House will be a &#8216;total game changer&#8217; for the autonomous and AI story for Tesla and Musk over the coming years,&#8221; Ives said in a post on social media platform X. 



&#8220;Bull case is $650 for 2025. AI/autonomous opportunity is worth at least $1 trillion.&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Raising price target on Tesla to $515 as we believe the Trump White House will be a &quot;total game changer&quot; for the autonomous and AI story for Tesla and Musk over the coming years. Bull case is $650 for 2025. AI/autonomous opportunity is worth at least $1 trillion &#x1f525;&#x1f3c6;&#x1f402;&#x1f37f;&#x1f4cd;&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1868365307636801629?ref_src=twsrc%5Etfw">December 15, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Ives believes Tesla could touch a market cap of $2 trillion by 2025-end with the company&#8217;s vision for autonomous driving finding a more concrete structure. Wedbush&#8217;s current price target, however, assumes no value for the company&#8217;s Optimus humanoid robot which Ives said &#8220;could be a major upside catalyst for the Tesla story.&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We believe Tesla could reach a $2 trillion market cap by the end of 2025 as the company&#39;s autonomous vision starts to take shape. Importantly, our price target conservatively assumes no value today for Optimus which could be a major upside catalyst for the Tesla story &#x1f525;&#x1f3c6;&#x1f402;&#x1f37f;&#x1f447; <a href="https://t.co/IBxilcLgC3">https://t.co/IBxilcLgC3</a>&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1868414138105618765?ref_src=twsrc%5Etfw">December 15, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Why It Matters: Tesla stock closed up 4.3% at $436.23 on Friday. The stock is up by around 76% year-to-date, according to data from <a href="http://pro.benzinga.com">Benzinga Pro.</a>



33 analysts together have a consensus rating of &#8220;Buy&#8221; on Tesla. Brokerage Stifel gave Tesla a price target of $411 earlier this month while maintaining a &#8220;buy rating.&#8221;



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/quote/TSLA/analyst-ratings"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16041724/Screenshot-2024-12-16-at-2.47.16%E2%80%AFPM.png" alt="" class="wp-image-693380"/></a></figure>



Many, including Ives, are hopeful that Musk&#8217;s newly forged friendship with President-elect Donald Trump will enable a better environment for the deployment of autonomous vehicles while his other policies against EVs will harm smaller rival players, effectively reducing competition for Tesla. 



Last week, it was reported that a trump transition team responsible for devising a 100-day strategy for automotive policy wants the incoming administration to<a href="https://www.benzinga.com/24/12/42495770/trump-transition-team-advocates-for-abolishing-car-crash-reporting-rule-tesla-stands-to-gain"> abolish the requirement to report car crashes</a> if advanced driver assistance or autonomous driving technologies are engaged within 30 seconds of impact. Tesla has been a critic of the requirement. 



Musk's Tesla is developing a set of advanced driver assistance features called full self-driving with which it intends to enable&nbsp;<a href="https://www.benzinga.com/trading-ideas/movers/24/11/42038624/tesla-stock-is-trading-higher-monday-whats-going-on" target="_blank" rel="noreferrer noopener">vehicle autonomy in due time.</a>



In November, it was also reported that Trump&nbsp;is planning to&nbsp;<a href="https://www.benzinga.com/news/global/24/11/41999238/ross-gerber-blasts-teslas-support-for-ending-ev-tax-credit-as-insanity-amid-reported-policy-shift-under-trump-administration" target="_blank" rel="noreferrer noopener">end the $7,500 consumer tax credit</a>&nbsp;for purchasing EVs under the Inflation Reduction Act (IRA).



&nbsp;"In my view, we should end all government subsidies, including those for EVs, oil and gas," <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42005034/elon-musk-backs-calls-for-end-to-ev-subsidies-but-former-tesla-exec-warns-of-massive-drop-in-manufacturing-investments-if-trump-follows-through">Musk then wrote</a> on X.



Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/24/12/42501487/cybertruck-production-rate-was-reduced-even-before-decembers-production-pause-says-tesla-researcher" target="_blank" rel="noreferrer noopener">Tesla's Cybertruck Production Rate Was Reduced Even Before December's Pause, Says Researcher</a></li>
</ul>



Image via Tesla

Analyst Color

Price Target

Analyst Ratings

TSLA

Tech Bull Raises Tesla Price Target To $515, Predicts $1 Trillion AI Opportunity Under Trump White House: 'Total Game Changer'

U.S. stock futures were trading higher on Monday in premarket hours after the tech-heavy <a href="https://www.benzinga.com/24/12/42495649/microstrategy-palantir-axon-added-to-nasdaq-100-super-micro-computer-moderna-illumina-exit-the-index">Nasdaq 100 index</a> extended its relentless climb last week, setting new record highs and nearing the 22,000-point milestone. The futures of all four major indices were trading higher.



The 10-year and two-year Treasury notes yielded 4.38% and 4.23%, respectively. The Federal Reserve&#8217;s upcoming meeting this week is highly anticipated by market observers.



The Federal Open Market Committee is widely expected to announce another interest rate reduction at the conclusion of their meeting on Wednesday. The probability of a further 25 basis point rate cut in December rose to 97.1% versus 61.9% a month ago, according to <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">CME Group&#8217;s FedWatch tool</a>.



If the Fed cuts rates, it would be the third consecutive cut, bringing the federal funds rate down from its current level of 4.50% to 4.75%. Following the meeting, Chairman Jerome Powell&#8216;s remarks will be closely scrutinized by market participants.



Investors will receive another critical economic data point on Friday with the release of the November personal consumption expenditures (PCE) inflation index. This release follows other inflation indicators that suggest price increases accelerated in November.



Prior to that, GDP revisions on Thursday will reveal whether the economy maintained the previously estimated 2.8% growth rate for the third quarter.



<figure class="wp-block-table"><table><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Nasdaq 100</td><td>0.31%</td></tr><tr><td>S&amp;P 500</td><td>0.20%</td></tr><tr><td>Dow Jones</td><td>0.10%</td></tr><tr><td>Russell 2000</td><td>0.27%</td></tr></tbody></table></figure>



In premarket trading on Monday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was up 0.20% to $605.44 and the Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.32% to $532.25, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.



Cues From The Last Session



The Nasdaq 100 rally was driven by <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42492966/ai-driven-rally-pushes-tech-stocks-to-records-broadcom-enters-trillion-dollar-club-inflation-data-flashes-warning-signal-this-week-in-the-markets">tech giants and AI optimism</a>. It&#8217;s set to double since the start of 2023, with five of the &#8220;Magnificent Seven&#8221; stocks hitting record highs. Broadcom Inc. joined the $1 trillion market cap club after strong earnings.



The Dow Jones Industrial Average, on the other hand, fell for the seventh consecutive day on Friday and S&amp;P 500 index closed marginally lower.



<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">Dow down 7 days in a row, but only 2.6% off the all-time highs (third least ever). I see 78 7-day losing streaks since 1900 and an avg of 24.7% off ATHs.&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1868406754448691224?ref_src=twsrc%5Etfw">December 15, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Inflation data released during the week raised some red flags. Consumer inflation rose 2.7% year-over-year in November, in line with expectations, but producer inflation jumped to 3% year-over-year, exceeding estimates of 2.6%. This marked the sharpest increase since February 2023, raising concerns about potential cost pass-throughs to consumers.



<figure class="wp-block-table"><table><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>0.12%</td><td>19,926.72</td></tr><tr><td>S&amp;P 500</td><td>-0.002%</td><td>6,051.09</td></tr><tr><td>Dow Jones</td><td>-0.20%</td><td>43,828.06</td></tr><tr><td>Russell 2000</td><td>-0.60%</td><td>2,34.90</td></tr></tbody></table></figure>



See Also: <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42492966/ai-driven-rally-pushes-tech-stocks-to-records-broadcom-enters-trillion-dollar-club-inflation-data-flashes-warning-signal-this-week-in-the-markets">AI-Driven Rally Pushes Tech Stocks To Records, Broadcom Enters Trillion-Dollar Club, Inflation Data Flashes Warning Signal: This Week In The Markets</a>



Insights From Analysts



Talking about the possibility of a &#8220;Santa Rally,&#8221; by the end of December the chief market strategist at Carson Group, Ryan Detrick shared a chart titled &#8216;Santa Comes Later In December&#8217; showing how the market has picked up after Dec. 16, on an average from 1950 to 2023.



He said, &#8220;Weak breadth, inflation heating up, bears saying they are sorry, etc, have all been listed as reasons for the recent weakness. Or maybe it is perfectly normal for stocks not to do much the first half of December, before an end-of-year rally?&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Weak breadth, inflation heating up, bears saying they are sorry, etc, have all been listed as reasons for the recent weakness. Or maybe it is perfectly normal for stocks not to do much the first half of December, before an end of year rally? Let&#39;s not give up on Santa yet. <a href="https://t.co/xo6mxsq8Yg">pic.twitter.com/xo6mxsq8Yg</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1868396543985762667?ref_src=twsrc%5Etfw">December 15, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



He further made a case for a year-end rally in another X post. He shared a chart that compared high-yield bonds with U.S. Treasury bonds and high-beta stocks with low volatility stocks. &#8220;High yield and high beta are outperforming bonds and low volatility,&#8221; he said.



<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">Nice chart from <a href="https://twitter.com/HumbleStudent?ref_src=twsrc%5Etfw">@HumbleStudent</a> on why a year-end rally is still possible. High yield and high beta are outperforming bonds and low volatility. Risk on signals are still in play (weak breadth and all). <a href="https://t.co/VTVXgmve85">pic.twitter.com/VTVXgmve85</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1868405432550555851?ref_src=twsrc%5Etfw">December 15, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Tom Lee, the managing partner and head of research at Fundstrat Global Advisors, hosted a webinar outlining his 2025 outlook. According to him, the S&amp;P 500 will have a better first half of the year getting up to 7,000, followed by a weaker second half of the year with us ultimately ending at 6,600



&#8220;To us, the downside risks are: DOGE too effective and GDP falls on spending cuts, (if) tariffs are actually implemented and GDP impacted,&#8221; Lee said.



Upcoming Economic Data:



Important data is slated to be released this week that will help investors determine the future course of action.



<ul>
<li>On Monday, the Empire State manufacturing survey data for December will be released at 8:30 a.m., ET.</li>



<li>The S&amp;P flash U.S. services and manufacturing PMI data for December will be released at 9:45 a.m., ET.</li>



<li>On Tuesday, U.S. retail sales data for November will be announced at 8:30 a.m., ET.</li>



<li>The industrial production and capacity utilization data for November will be announced at 9:15 a.m., ET.</li>



<li>The home builder confidence index data will be released for December at 10:00 a.m., ET.</li>



<li>And, lastly, the Federal Open Market Committee meeting will begin on Tuesday.</li>



<li>On Wednesday, housing starts, and building permit data for November will be announced at 8:30 a.m., ET.</li>



<li>The FOMC&#8217;s interest rate decision will be announced at 2:00 p.m., ET, and the Fed Chair Jerome Powell&#8217;s press conference will begin at 2:30 p.m., ET.</li>



<li>Micron Technology, Lennar, General Mills, and Toro will report earnings.</li>



<li>On Thursday, the data for initial jobless claims till Dec. 14, GDP&#8217;s second revision for the third quarter and Philadelphia Fed manufacturing survey data for December will be released at 8:30 a.m., ET.</li>



<li>Existing home sales data and U.S. leading economic indicators for November will be announced at 10:00 a.m., ET.</li>



<li>Accenture, Nike, Cintas, FedEx, and Paychex will report earnings.</li>



<li>On Friday, personal income and spending data along with core and headline PCE index data for November will be released at 8:30 a.m., ET.</li>



<li>Consumer sentiment data for December will be released at 10:00 a.m., ET.</li>



<li>Carnival Corporation and Winnebago Industries will report earnings.</li>
</ul>



Stocks In Focus:



<ul>
<li>MicroStrategy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) advanced 5.26%, Palantir Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) was up 0.78%, and Axon Enterprise Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXON#NASDAQ">AXON</a>) rose by 3.12% in premarket trade as Nasdaq announced on Friday that these stocks will join the Nasdaq 100 index.</li>
</ul>



<ul>
<li>Moderna Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) declined by 0.5%, Super Micro Computer Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) fell by 11.71% and Illumina Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>) dropped by 0.99% in premarket after Nasdaq&#8217;s Friday announcement, booting these stocks off Nasdaq 100 index.</li>
</ul>



<ul>
<li>Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) was up 1.57%, continuing Friday&#8217;s upmove fueled by strong quarterly earnings and upbeat AI-driven guidance for the coming year. Friday&#8217;s rally propelled the chipmaker into the exclusive $1 trillion market-cap club, making it the eighth-largest publicly traded company.</li>
</ul>



<ul>
<li>Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) was 1.07% up after Wedbush&#8217;s Dan Ives hiked its price target citing AI and autonomous opportunity worth $1 trillion.</li>
</ul>



<ul>
<li>Amplitech Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMPG#NASDAQ">AMPG</a>) advanced 4.76% in premarket after it announced the sale of 1,352,500 shares of its common stock at $1.60 per share, totaling to price of $2.2 million.</li>
</ul>



<ul>
<li>Checkpoint Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CKPT#NASDAQ">CKPT</a>) was up 11.44% after the U.S. Food and Drug Administration approved UnloxcyT for the treatment of adults with metastatic cutaneous squamous cell carcinoma.</li>
</ul>



Commodities, Bonds And Global Equity Markets:



Crude oil futures were declining in the early New York session by 1.43% to hover around $70.27 per barrel.



The gold spot index rose by 0.08% to $2,677.91 per ounce. The Dollar Index was down 0.09% to 106.912 level.



Asian markets declined on Monday including Australia&#8217;s ASX 200, Hong Kong&#8217;s Hang Seng, China&#8217;s CSI 300, Japan&#8217;s Nikkei 225, India&#8217;s S&amp;P BSE Sensex, and South Korea&#8217;s Kospi Index. Most European markets also fell except Spain&#8217;s IBEX 35.



<ul>
<li>Read Next: <a href="https://www.benzinga.com/24/12/42503379/balaji-srinivasan-contrasts-ais-reputation-as-making-it-easy-to-fake-things-with-cryptos-tamper-proof-technology">Former Coinbase Tech Chief Contrasts AI&#8217;s Reputation As Making It Easy To Fake Things With Crypto&#8217;s Tamper-Proof Technology</a></li>
</ul>



Image Via Shutterstock

Equities

Macro Economic Events

Market Summary

Economics

Federal Reserve

Pre-Market Outlook

General

AMPG

AVGO

AXON

CKPT

ILMN

MRNA

MSTR

PLTR

SMCI

US Stocks To Open Higher Ahead Of Fed's Decision This Week: Analyst Says 'Santa Comes Later In December'

Analysts predict a good year for gold in 2025 after it&#8217;s poised for the best annual performance in over a decade in 2024. However, Michael Saylor, co-founder and executive chairman of MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), has <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42413650/michael-saylor-urges-us-to-ditch-gold-for-bitcoin-sell-the-past-own-the-future">called for a dramatic shift </a>in U.S. economic strategy, urging the country to abandon gold as a reserve asset in favor of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).



What Happened: The World Gold Council in its 2025 outlook has outlined three scenarios for the precious metal in the upcoming year. According to them, gold will &#8220;remain rangebound&#8221; if existing market expectations are correct.



Explaining its rationale for the rangebound assertion, the council notes that &#8220;a combination of higher rates and lower economic growth could negatively affect investors and consumers.&#8221;



On the flip side, &#8220;significantly lower interest rates or a deterioration in geopolitics or market conditions will improve gold's performance.&#8221;



JPMorgan has said that it expects gold prices to &#8220;find continued support from central banks, particularly in emerging markets. Critically, gold—the original safe-haven asset—can serve as an attractive hedge against both geopolitical risk and uncertainty around sovereign debt and deficits.&#8221;



See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42413650/michael-saylor-urges-us-to-ditch-gold-for-bitcoin-sell-the-past-own-the-future">Michael Saylor Urges US To Ditch Gold For Bitcoin: &#8216;Sell The Past, Own The Future&#8217;</a>



Goldman Sachs, on the other hand, forecasts gold prices will reach $2,700 by early next year, &#8220;buoyed by interest rate cuts by the Federal Reserve and gold purchases by emerging market central banks. The metal could get an additional boost if the U.S. imposes new financial sanctions or if concerns mount about the U.S. debt burden.&#8221;



Bitcoin Bulls Disagree



Despite a largely positive outlook for gold in 2025, few Bitcoin bulls think differently. Speaking on an episode of the Galaxy Brains podcast, Saylor labeled gold as a "shiny dead rock.&#8221;



"If you want to elevate the U.S.&#8217;s economic leadership in the world, there are two very simple strategies," Saylor said. "Dump the gold and buy Bitcoin."



He suggested that replacing gold with Bitcoin as a strategic reserve asset would allow the U.S. to demonetize gold—an asset heavily held by rival nations—and capitalize on Bitcoin&#8217;s growth potential.



Price Action: Gold spot prices have risen by 28.63% year-to-date, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>. This is gold&#8217;s best performance since 2007 when gold surged by over 31%.



Here&#8217;s how a few other gold ETFs have performed this year.



<figure class="wp-block-table"><table><tbody><tr><td>ETFs</td><td>YTD Performance</td></tr><tr><td>Franklin Responsibly Sourced Gold ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FGDL#NYSE">FGDL</a>)</td><td>29.07%</td></tr><tr><td>iShares Gold Trust Micro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAUM#NYSE">IAUM</a>)</td><td>28.52%</td></tr><tr><td>SPDR Gold MiniShares Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLDM#NYSE">GLDM</a>)</td><td>28.55%</td></tr><tr><td>Aberdeen Physical Gold Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGOL#NYSE">SGOL</a>)</td><td>28.46%</td></tr></tbody></table></figure>



<figure class="wp-block-image size-large"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020045/Gold-ETf-final-1024x576.png" alt="" class="wp-image-693140" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020045/Gold-ETf-final-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020045/Gold-ETf-final-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020045/Gold-ETf-final-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020045/Gold-ETf-final-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020045/Gold-ETf-final.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



In comparison, Bitcoin ETFs have surged over four times during the same period.



<figure class="wp-block-table"><table><tbody><tr><td>ETF</td><td>YTD Performance</td></tr><tr><td>Fidelity Wise Origin Bitcoin Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FBTC#BATS">FBTC</a>)</td><td>138.83%</td></tr><tr><td>Grayscale Bitcoin Mini Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BITC#NYSE">BITC</a>)</td><td>123.13%</td></tr></tbody></table></figure>



<figure class="wp-block-image size-large"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020016/Bitcoin-ETfs-final-1024x576.png" alt="" class="wp-image-693139" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020016/Bitcoin-ETfs-final-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020016/Bitcoin-ETfs-final-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020016/Bitcoin-ETfs-final-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020016/Bitcoin-ETfs-final-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020016/Bitcoin-ETfs-final.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/24/12/42495307/charlie-munger-identified-this-stock-30-years-ago-after-warren-buffett-passed-on-it-heres-how-it-is-doing-as-it-accomplishes-four-milestones-in-its-current-quarter">Charlie Munger Identified This Stock 30 Years Ago After Warren Buffett Passed On It: Here&#8217;s How It Is Doing Now</a></li>
</ul>



Photo courtesy: Shutterstock

Commodities

BITC

FBTC

FGDL

GLDM

IAUM

SGOL

Gold Poised For Its Best Year In A Decade While Bitcoin Surges: Analysts Eye 2025 As A Golden Era For Precious Metal Amid Michael Saylor's Push For BTC As A Reserve Asset

Eric Trump, executive vice president of the Trump Organization, has positioned himself as a central figure in shaping the Trump family's political and financial strategies. He is a key figure poised to play a pivotal role in shaping America's trajectory alongside his father, Donald Trump. 



In a recent exclusive interview with Benzinga&#8216;s <a href="https://www.benzinga.com/author/bibhu-pattnaik">Bibhu Pattnaik</a>, Eric highlighted his father's focus on government efficiency, drawing parallels with Billionaire Elon Musk's approach to innovation. 



Praising Musk as "the Albert Einstein of our time," Eric underscored Musk's emphasis on creating efficiency in his businesses, including reusable rockets. 



&#8220;He&#8217;s a great chap. Elon Musk is the Albert Einstein of our time. The guy&#8217;s incredible. Actually, if you break down most of his businesses, what&#8217;s his recipe for success? And that&#8217;s, frankly, efficiency. He wants to make the most efficient rockets, ones that land back on top so they can be reusable in two weeks and everything else, right,&#8221; Eric told Benzinga. 



He further claimed that Musk&#8217;s efficiency-focused philosophy could reshape the U.S. government under a Trump-Musk alliance.



On Musk's role, Eric expressed confidence in his ability to contribute to America's progress, suggesting that his strategies could help cut federal spending by a trillion dollars. 



Also Read: <a href="https://www.benzinga.com/markets/24/11/41869001/heres-how-trumps-policies-might-shape-the-markets-future">Here&#8217;s How Trump&#8217;s Policies Might Shape The Market&#8217;s Future</a>



&#8220;He wants efficiency, and that&#8217;s what DOGE is going to do. He&#8217;s going to create efficiency in the United States government. He&#8217;s going to cut a trillion dollars. I think Elon Musk is going to do an incredible job, and I think we&#8217;re going to see a stronger America because of it,&#8221; Eric added. 



Eric's comments framed Musk as a key partner in driving efficiency in both the private and public sectors.



Eric criticized the current federal workforce, alleging that a significant portion of government employees don't show up to work five days a week. He suggested reducing inefficiencies by cutting unnecessary roles and redirecting resources. 



He argued that such measures would lead to significant cost savings and a leaner, more effective government.



&#8220;Listen, 90% of the U.S. government doesn&#8217;t even show up to work five days a week. Yet you have 2.5 million employees in the United States government. Congratulations! if you&#8217;re not showing up to work, we don&#8217;t need you. Get rid of you and go be useful somewhere else,&#8221; Eric said. 



&#8220;Go do something where you&#8217;re going to be efficient. The commercial markets won&#8217;t allow somebody to not show up at work, right? Don&#8217;t take care of that problem. I think my father is going to create massive efficiency,&#8221; he further said. 



Eric also discussed his ongoing support for his father's campaign efforts, signaling a continuation of the family's influence on Republican politics. 



His remarks come as Donald Trump prepares for a potential 2024 bid, intertwining family business, politics, and innovation in a controversial but headline-grabbing vision for the future.



Read Next



<a href="https://www.benzinga.com/news/24/11/42154761/majority-of-americans-approve-of-trumps-second-term-agenda">Majority of Americans Approve of Trump&#8217;s Second-Term Agenda</a>

Politics

Exclusives

Interview

EXCLUSIVE: Eric Trump Calls Elon Musk 'Albert Einstein Of Our Time,' Says Tesla CEO Will Help Build 'A Stronger America'

When Elon Musk took to X to <a href="https://x.com/elonmusk/status/1864683112057213028">question</a> why Americans aren't &#8220;getting their money's worth&#8221; despite the United States leading the world in health care administrative costs, Mark Cuban stepped in with some tough truths. Cuban, known for his straight talk and deep dive into health care reform, gave Musk and other CEOs a crash course on how their decisions directly impact health care costs and quality in the U.S.



"The key is the contracts CEOs of self-insured companies sign," Cuban wrote in response to Musk's tweet. He explained that many of these contracts, especially with Pharmacy Benefit Managers (PBMs), are at the <a href="https://www.benzinga.com/markets/equities/24/08/40560002/governments-suing-pharmacy-benefit-managers-over-insulin-prices-have-long-benefited-from-their-r">root of spiraling costs and poor care</a>.



Don't Miss:



<ul>
<li><a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.</li>



<li>Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.</li>



<li><a href="https://www.benzinga.com/money/cd-valet-growth">CD Popularity Soars: Over 50 Million Americans Embrace Safe Savings with 5–10% Annual Growth</a></li>
</ul>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The key is the contracts CEOs of self insured companies sign. You may not understand why, but the healthcare insurance and PBM contracts YOU have signed for Tesla, SpaceX , <a href="https://twitter.com/X?ref_src=twsrc%5Etfw">@X</a>, along with CEOs of other big companies , have more impact on healthcare costs and quality of care… <a href="https://t.co/5RbX3wLBRv">https://t.co/5RbX3wLBRv</a>&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1864785125227032764?ref_src=twsrc%5Etfw">December 5, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">What's Wrong With PBM Contracts?</h2>



Cuban laid out seven major issues with typical PBM agreements that affect not only companies like Musk's Tesla and SpaceX but also their employees and families:



<ol>
<li>No control over claims data: Companies don't get full access to the data about what's being billed or paid.</li>



<li>Restricted formularies: PBMs control which medications are covered, often prioritizing profits over health.</li>



<li>Overpriced &#8220;Specialty Drugs&#8221;: These are often marked up without justification.</li>



<li>Rebates come at a cost: "Rebates" paid by pharmaceutical companies ultimately increase employee deductibles and co-pays, hitting the sickest and oldest the hardest.</li>



<li>Harming independent pharmacies: PBMs often reimburse small pharmacies less than the cost of brand-name drugs, driving many out of business.</li>



<li>No manufacturer collaboration: Companies can't directly work with drug manufacturers to create targeted wellness programs.</li>



<li>Opaque contracts: Many PBM agreements include NDAs, making the system inefficient and increasing<a href="https://www.benzinga.com/personal-finance/24/07/39799717/patients-pay-the-price-as-drug-middlemen-profit-says-ftc-report-mark-cubans-take-anyone-surprise"> prices nationwide</a>.</li>
</ol>



"All of this allows the big PBMs to continue to distort the pharmacy market for literally EVERYONE," Cuban emphasized.



See Also: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."<a href="https://www.benzinga.com/money/warren-buffet-make-money-when-you-sleep"> Here&#8217;s how you can earn passive income with just $100.</a>



<h2 class="wp-block-heading">What CEOs Can Do</h2>



Cuban didn't just highlight problems – he offered solutions. He called on Musk and other CEOs to take control by directly contracting with health care providers and working with "pass-through" PBMs that prioritize transparency and lower costs. Cuban also suggested that educating CEOs on these practices should be a priority for <a href="https://www.benzinga.com/news/24/12/42335531/jeff-bezos-counters-elon-musk-led-doge-cost-cutting-plan-says-america-needs-growth-orientation-heres-what-the-amazon-founder-said-to-tackle-national-debt">Musk's future agency</a>, the Department of Government Efficiency (DOGE).



"It starts and ends with educating CEOs like yourself, of self-insured companies, to do what is in the best interest of their employees and families," Cuban wrote.



Trending: The number of ‘401(k)' Millionaires is up 43% from last year —<a href="https://www.benzinga.com/money/401k-millionaires"> Here are three ways to join the club.</a>



He also warned about the legal risks for companies that ignore these issues, citing them as a sign of what's to come. There &#8220;will be ubiquitous class action lawsuits coming for all CEOs next," he warned.



Cuban clarified that while he might not "know cars or rockets," he knows how to fix health care. His message to Musk – and other CEOs – was straightforward: the power to change the system is in their hands. By prioritizing transparency and better contracts, they can make a massive impact on the cost and quality of health care for millions of Americans.



Read Next:



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<li>Many are using this retirement income calculator to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a></li>



<li>Studies show 50% of consumers think Financial Advisors cost much more than they do —<a href="https://www.benzinga.com/money/money-pickle"> to debunk this, this company provides matching for free and a complimentary first call with the matched advisor.</a></li>
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Startups

Mark Cuban Says, 'I Don't Know Cars Or Rockets,' But Schools Elon Musk On How American Health Insurance Works

The past week has been a whirlwind of economic news, with President-elect&nbsp;Donald Trump&nbsp;at the center of several major stories. The financial landscape is buzzing with anticipation and concern, from proposed tariffs affecting dollar stores to potential inflationary risks.



Let&#8217;s dive into the key stories that shaped the weekend.



Dollar Tree Prepares For Tariff Impact



A proposal by&nbsp;Donald Trump&nbsp;to impose tariffs on imports from China, Canada, and Mexico could significantly affect dollar stores in the U.S.&nbsp;Dollar Tree Inc.&nbsp;has already raised prices to $1.25 due to inflation, and further price hikes or changes in product offerings may be on the horizon.



<a href="https://www.benzinga.com/news/global/24/12/42402629/trump-to-change-dollar-stores-for-good-dollar-tree-exec-says-prepared-to-act">Read the full article here</a>.



Larry Summers Warns Of Inflation Risks



Former U.S. Treasury Secretary&nbsp;Larry Summers&nbsp;expressed concerns over Trump&#8217;s economic policies, suggesting they could lead to inflation levels surpassing those seen during President&nbsp;Joe Biden&#8216;s term. Summers highlighted the potential impact of maintaining tax cuts, implementing tariffs, and reducing the labor force.



<a href="https://www.benzinga.com/markets/24/12/42452944/larry-summers-cautions-on-trumps-tariffs-and-tax-cuts-markets-are-hair-trigger-sensitive-to-inflation">Read the full article&nbsp;here</a>.



See Also:&nbsp;<a href="https://www.benzinga.com/24/12/42432367/us-stock-futures-mixed-as-traders-brace-for-inflation-data-analyst-predicts-that-the-bull-market-is-far-from-over?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">US Futures Mixed As Street Braces For Inflation Data: Analyst Says 2024 Will Go Down As The &#8216;Best Election Year Return Ever&#8217;</a>



Andrew Ferguson to Lead FTC



 President-elect&nbsp;Donald Trump&nbsp;has selected&nbsp;Andrew Ferguson&nbsp;as his choice to replace&nbsp;Lina Khan&nbsp;as FTC Chair. Ferguson, who joined the FTC in April, aims to reshape the agency&#8217;s approach to tech regulation and antitrust enforcement.



<a href="https://www.benzinga.com/markets/24/12/42428224/trump-names-andrew-ferguson-as-ftc-chair-replacing-lina-khan-pledges-to-end-big-techs-vendetta-against-competition-and-free-speech">Read the full article&nbsp;here</a>.



Janet Yellen&#8217;s Tariff Concerns



U.S. Treasury Secretary&nbsp;Janet Yellen&nbsp;warned that Trump&#8217;s proposed tariffs could destabilize financial markets and increase costs for American households. Speaking at a Wall Street Journal event, Yellen emphasized the potential negative impact on U.S. economic competitiveness.



<a href="https://www.benzinga.com/markets/24/12/42430772/janet-yellen-warns-trump-tariffs-could-undermine-confidence-in-financial-markets-and-raise-american-household-costs">Read the full article&nbsp;here</a>.



Fed&#8217;s December Meeting and Rate Cuts



Traders anticipating significant Federal Reserve interest rate cuts in 2025 may face disappointment. The upcoming Fed meeting is expected to signal a cautious approach, with only three rate cuts projected for next year. This insight comes from a Bloomberg survey of economists.



<a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42489039/feds-december-meeting-could-crush-rate-cut-optimism-for-2025">Read the full article&nbsp;here</a>.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/general/space/24/12/42477647/elon-musk-reveals-spacexs-new-starship-spacecraft-is-easier-to-manufacture-and-less-susceptible-to-high-heating-ahead-of-7th-test-flight">Elon Musk Reveals SpaceX&#8217;s New Starship Spacecraft Is &#8216;Easier To Manufacture And Less Susceptible To High Heating&#8217; Ahead Of 7th Test Flight</a></li>
</ul>



Photo courtesy: Shutterstock



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/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>

Trump's Moves Stir Markets: Dollar Tree, Larry Summers, And More: This Week In Economics

As the weekend wraps up, we bring you a recap of the major stories that have shaped the business world. From potential changes in dollar stores due to Trump&#8217;s tariff plans to Canada&#8217;s possible retaliation in a trade war, there&#8217;s a lot to catch up on. Let&#8217;s not forget the significant milestones achieved by Elon Musk and the surprising alliances forming in the political and business arenas. Here&#8217;s the lowdown on what you may have missed.



Trump&#8217;s Tariff Plans Could Reshape Dollar Stores



A proposal by President-elect Donald Trump to impose tariffs on products imported from China, Canada, and Mexico could significantly impact the product assortment and pricing in American dollar stores. Dollar Tree Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>), known for offering items at $1 or less, has already raised prices to $1.25 to combat inflation.



<a href="https://www.benzinga.com/news/global/24/12/42402629/trump-to-change-dollar-stores-for-good-dollar-tree-exec-says-prepared-to-act">Read the full article here.</a>



Canada Considers Export Taxes in Potential Trade War



In response to Trump&#8217;s proposed tariffs, Canada is contemplating imposing export taxes on goods, including uranium, oil, and potash. According to a Bloomberg report, retaliatory tariffs on U.S.-made goods and export controls on certain Canadian products are most likely. The Trudeau government may also consider expanding its powers over export controls.



<a href="https://www.benzinga.com/news/global/24/12/42475000/if-trump-starts-a-trade-war-canada-could-impose-export-taxes-on-oil-uranium-report">Read the full article here.</a>



Elon Musk Becomes First Person Worth $400 Billion



Thanks to a continued surge in Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock price since Trump&#8217;s 2024 presidential election win, Elon Musk has become the first person ever worth more than $400 billion. Tesla&#8217;s stock hit a new all-time high of $415 on Wednesday, surpassing its previous high of $414.50.



<a href="https://www.benzinga.com/news/management/24/12/42444955/elon-musk-first-person-worth-400-billion-as-tesla-stock-hits-new-all-time-highs-how-2024-election-helped-could-lead-to-future-gains">Read the full article here.</a>



Mark Zuckerberg Donates $1M to Trump&#8217;s Inauguration



Meta Platforms Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CEO Mark Zuckerberg and his company have donated $1 million to support President-elect Donald Trump&#8217;s inauguration events. This is Meta&#8217;s first contribution to an inauguration fund and comes amid efforts to mend its relationship with Trump, who had previously accused the company of censoring right-wing voices.



<a href="https://www.benzinga.com/news/24/12/42454227/months-after-trump-threatened-to-put-mark-zuckerberg-in-prison-meta-ceo-donates-1m-to-president-elects-inaugural-event">Read the full article here.</a>



Trump and Bezos to Break Bread



President-elect Donald Trump has announced plans to dine with Amazon.com Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) founder Jeff Bezos. This surprising alliance comes after years of clashes and marks a shift in their relationship following Trump&#8217;s recent election win.



<a href="https://www.benzinga.com/media/24/12/42407739/trump-announces-plans-to-have-dinner-with-amazon-founder-jeff-bezos-as-billionaire-rivals-turn-unexpected-allies-after-years-of-clashes">Read the full article here.</a>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42488734/dogecoin-price-stuck-around-40-cents-why-isnt-doge-moving?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Price Stuck Around 40 Cents: Why Isn&#8217;t DOGE Moving?</a></li>
</ul>



Photo courtesy: Shutterstock



 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/anan-ashraf" target="_blank" rel="noopener">Anan Ashraf.</a>

AMZN

DLTR

Trump's Impact On Dollar Stores, Canada's Trade War, Musk's Wealth Surge And More: This Week In Politics

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.



The Dow dropped 1.8% this week, while the S&amp;P 500 fell 0.6%, ending a three-week winning streak. Meanwhile, the Nasdaq gained 0.3%, continuing its climb, driven by optimism in tech and artificial intelligence. 



The Nasdaq 100, boosted by the Magnificent Seven, reached record highs, approaching the 22,000 mark and logging a 30% year-to-date gain. Five of the group's stocks, including Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), hit new highs, with their combined market value <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42492966/ai-driven-rally-pushes-tech-stocks-to-records-broadcom-enters-trillion-dollar-club-inflation-data-flashes-warning-signal-this-week-in-the-markets">surpassing $18 trillion.</a>



Inflationary pressures also persisted in November, with the Consumer Price Index rising 2.7% year-over-year, marking the second consecutive annual increase and presenting challenges for the Federal Reserve's 2% target. Shelter costs, which rose 0.3%, accounted for 40% of the monthly CPI gain, underscoring the sticky nature of inflation despite <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42436676/inflation-rises-as-expected-in-november-sustain-hopes-for-next-weeks-fed-interest-rate-cut">earlier signs of disinflation.</a>



Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.



<h3 class="wp-block-heading">The Bulls</h3>



&#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42449593/tesla-stock-is-analysts-top-2025-sector-pick-elon-musks-political-involvement-will-accelerate-teslas-journey-beyond-autos">Tesla Is Analyst&#8217;s Top 2025 Stock Pick: Elon Musk Political Involvement May &#8216;Accelerate&#8217; EV Maker Beyond Autos</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, highlights Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) as an analyst&#8217;s top automotive pick for 2025, citing Elon Musk's political influence as a catalyst for Tesla&#8217;s expansion into AI, robotics, and renewable energy beyond its core automotive business.



&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42405504/dogecoin-can-touch-18-if-things-go-wild-says-influential-crypto-trader-thankful-for-the-dip-and-will-buy-more">Dogecoin Can Touch $18 If Things &#8216;Go Wild,&#8217; Says Influential Crypto Trader: &#8216;Thankful For The Dip And Will Buy More&#8217;</a>,&#8221; by <a href="https://www.benzinga.com/author/aniket-verma">Aniket Verma</a>, shares a crypto analyst&#8217;s bullish prediction for Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), targeting $3 with a potential high of $18 in a &#8220;wild&#8221; scenario, while using dips between $0.40 and $0.30 to increase holdings early in the bull cycle.



&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42433049/microstrategy-nasdaq-100-inclusion-on-the-horizon-could-spell-59-upside-says-bernstein">MicroStrategy: Nasdaq 100 Inclusion On The Horizon Could Spell 59% Upside, Says Bernstein</a>,&#8221; by <a href="https://www.benzinga.com/author/murtuza-merchant">Murtuza Merchant</a>, highlights the significance of MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) joining the Nasdaq 100. Bernstein projects the move could enhance visibility, drive $2.1 billion in ETF inflows, and support a $600 price target, underpinned by the company's Bitcoin-centric growth strategy.



For additional bullish calls of the past week, check out the following:



<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42433831/bitcoin-to-200000-ethereum-to-7000-solana-to-750-in-2025-predicts-bitwise">Bitcoin To $200,000, Ethereum To $7,000, Solana To $750 In 2025, Predicts Bitwise</a>



<a href="https://www.benzinga.com/24/12/42453057/palantir-positioned-to-become-the-next-oracle-in-2025-says-dan-ives-messi-of-ai-set-for-breakout-year">Palantir Positioned To Become &#8216;The Next&#8217; Oracle In 2025, Says Dan Ives: &#8216;Messi Of AI&#8217; Set For Breakout Year</a>



<a href="https://www.benzinga.com/general/space/24/12/42412982/russell-2000-high-flyers-4-stocks-shaping-2024-with-quantum-ai-nuclear-space">Russell 2000 High Flyers: 4 Stocks Shaping 2024 With Quantum, AI, Nuclear, Space</a>



The Bears



&#8220;<a href="https://www.benzinga.com/news/legal/24/12/42404352/nvidia-china-antitrust-probe-may-remain-unsolved-in-near-term-says-top-analyst-investors-should-be-prepared-for-increased-scrutiny">Nvidia China Antitrust Probe May &#8216;Remain Unsolved&#8217; In Near Term Says Top Analyst; Investors Should Be Prepared For Increased Scrutiny</a>,&#8221; by <a href="https://www.benzinga.com/author/ananya-gairola">Ananya Gairola</a>, discusses China&#8217;s investigation into NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) for potential anti-competitive practices, with TF Securities&#8217; Ming-Chi Kuo predicting limited short-term financial impact but warning of escalating scrutiny, including possible future CUDA-related probes.



&#8220;<a href="https://www.benzinga.com/news/global/24/12/42402629/trump-to-change-dollar-stores-for-good-dollar-tree-exec-says-prepared-to-act">Trump To Change Dollar Stores For Good? Dollar Tree Exec Says &#8216;Prepared To Act&#8217;</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, highlights Dollar Tree Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) and Dollar General Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) bracing for cost pressures from proposed tariffs, with Dollar Tree's CEO stating the company is ready to adapt its pricing and supply strategies.



&#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42468190/defense-stocks-face-headwinds-as-trumps-doge-targets-spending-cuts-goldman-sachs-downgrades-general-dynamics-to-sell">Defense Stocks Face Headwinds As Trump&#8217;s DOGE Targets Spending Cuts: Goldman Sachs Downgrades General Dynamics</a>,&#8221; by <a href="https://www.benzinga.com/author/piero-cingari">Piero Cingari</a>, reports Goldman Sachs&#8217; downgrade of General Dynamics Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) to Sell, citing risks from Donald Trump&#8216;s Department of Government Efficiency&#8217;s potential Pentagon budget cuts, while Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) and Northrop Grumman Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) remain under scrutiny for valuation concerns and slowing growth.



For more bearish takes, be sure to see these posts:



<a href="https://www.benzinga.com/markets/24/12/42452944/larry-summers-cautions-on-trumps-tariffs-and-tax-cuts-markets-are-hair-trigger-sensitive-to-inflation">Larry Summers Warns Of Nixon-Era Risks In Trump&#8217;s Term: Policies Could Trigger &#8216;Significantly Larger&#8217; Inflation</a>



<a href="https://www.benzinga.com/media/24/12/42482813/intel-cfo-hints-at-possible-division-split-as-company-struggles-to-recapture-moat">Intel CFO Hints at Possible Division Split as Company Struggles To Recapture Moat</a>



<a href="https://www.benzinga.com/markets/24/12/42430772/janet-yellen-warns-trump-tariffs-could-undermine-confidence-in-financial-markets-and-raise-american-household-costs">Janet Yellen Warns Trump Tariffs Could &#8216;Undermine Confidence In Financial Markets&#8217; And Raise American Household Costs</a>



Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.



Image created using artificial intelligence via Midjourney.

Long Ideas

Short Ideas

AAPL

NVDA

Benzinga Bulls And Bears: Tesla, Nvidia, MicroStrategy, Dollar Tree, And Dogecoin Prediction Of $18 In 'Wild' Scenario

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



Intevac, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IVAC#NASDAQ">IVAC</a>), which manufactures technologies for applications like solar cells and hard disk drives, has undergone a makeover. With its old restructuring woes in the rearview mirror, the company&#8217;s forecasted EBITDA is looking a lot healthier — basically, it&#8217;s flexing its financial muscles. Now, investment bank Houlihan Lokey is putting out feelers to see what kind of strategic alternatives are out there, which basically means they're chatting with anyone who might want <a href="https://www.benzinga.com/topic/mergers-and-acquisitions">to ink a deal</a>.



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



Hershey Trust Co., holding a hefty 80% of the voting power at The Hershey Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>), recently told Mondelez International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>) to try again after <a href="https://www.benzinga.com/news/24/12/42398159/whats-going-on-with-hershey-stock-monday">rejecting their preliminary bid</a>, calling it &#8220;too low,&#8221; according to <a href="https://www.bloomberg.com/news/articles/2024-12-11/hershey-s-main-owner-said-to-reject-mondelez-s-offer-as-too-low?sref=TBDibEcD&amp;embedded-checkout=true">Bloomberg</a>. Meanwhile, Mondelez is wrestling with skyrocketing cocoa and coffee prices, possibly using that stress as fuel for their merger plans. Cocoa prices have gone through the roof—up over three times in the past year, and there was a 20% leap between October and November alone. Blame it on bad weather in cocoa-growing regions, shrinking global inventories, and the usual supply chain drama. Even BofA Securities analyst Peter T. Galbo jumped in, noting that Hershey looks like a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42483141/hershey-merger-talks-fail">pretty tasty merger target</a> amid all the cocoa chaos​.



Nippon Life Insurance wants to acquire all the shares it doesn&#8217;t already own in Resolution Life Group Holdings. The all-cash deal of $8.2 billion is the largest overseas acquisition ever by a Japanese insurer. It&#8217;s also only the second major deal Nippon Life has announced this year. It's clear that Japanese insurers, like Nippon Life, are on the lookout for opportunities abroad.



See Also: <a href="https://www.benzinga.com/general/space/24/12/42376708/nasa-mission-to-land-humans-on-moon-delayed-artemis-3-now-slated-for-mid-2027">NASA Mission To Land Humans On Moon Delayed &#8211; Artemis 3 Now Slated For&#8230;</a>



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



Dow agreed to sell a 40% stake in its U.S. Gulf Coast infrastructure assets to a fund managed by Macquarie Asset Management for $2.4 billion. The new partnership, cheekily named Diamond Infrastructure Solutions, will act as a go-to provider of top-tier infrastructure services for Dow and other industrial clients in Texas and Louisiana.



Novolex, the packaging giant backed by Apollo Global Management, has sealed the deal to acquire Pactiv Evergreen. The price hovers around <a href="https://www.benzinga.com/24/12/42395976/pactiv-evergreen-realreal-kodiak-sciences-and-other-big-stocks-moving-higher-on-monday">$3.22 billion</a>. The Wall Street Journal <a href="https://www.wsj.com/articles/apollo-backed-novolex-to-buy-pactiv-evergreen-for-3-22-billion-0e4815cf">reported</a> that the price tag equates to about $18 per share in cash, which is a sweet 23% premium over the stock's closing price of $14.66 on Dec. 6. It's also about 32% above where Pactiv's stock was trading on Dec. 2, right before rumors started flying about Apollo sniffing around for a takeover. 



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



The Onion's owners are upset with a bankruptcy judge for nixing their winning bid to buy Alex Jones&#8216; Infowars company. A federal bankruptcy judge declared <a href="https://www.benzinga.com/media/24/11/41982446/jokes-on-jones-onion-backed-by-families-of-sandy-hook-victims-buys-info-wars">last month's auction</a> and The Onion's offer "flawed," citing issues like a lack of transparency and an uneven playing field, as well as the failure to maximize value for Jones' creditors. This decision came after Elon Musk <a href="https://www.benzinga.com/24/11/42229130/elon-musks-x-objects-to-sale-of-conspiracy-theorist-alex-joness-infowars-accounts-to-the-onion-claims-ownership-over-joness-social-media">stirred the pot</a>. Jones vowed that even if Infowars gets shut down, he'll simply move his operations to his backup studios and keep broadcasting via satellites, stations, and of course, Musk&#8217;s X platform. Despite all the drama, the ruling was a rare victory for Jones, who's been battling legal claims from the families of victims from the Sandy Hook tragedy, which he defamed by calling it a hoax.



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



Fitch Ratings <a href="https://www.fitchratings.com/research/corporate-finance/us-corporate-m-a-could-accelerate-in-2025-credit-implications-mixed-02-12-2024">identified</a> several sectors with ample dry powder and legroom for acquisitions. They include construction, aerospace, gaming and leisure, healthcare, banking, and tech. Benzinga narrowed down which companies, based on growth potential and brand recognition, will likely attract suitors in 2025. These are primarily mid-size firms with market caps between $5 and $12 billion.



<ul>
<li>Dutch Bros Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BROS#NYSE">BROS</a>): This takeover target boasts expanding profits, minimal debt load, strong brand recognition, and potentially untapped markets in the coffee-crazed northeastern U.S.</li>



<li>Walgreens Boots Alliance Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>): On Dec. 10, news broke that Sycamore Partners was <a href="https://www.benzinga.com/24/12/42421855/walgreens-stock-jumps-on-report-of-potential-private-equity-sale-what-you-need-to-know">exploring an acquisition</a> of Walgreens, who intend to take the company private and potentially split up its divisions.</li>



<li>Roku Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>): ROKU's market cap is just under $12 billion, which is couch cushion cash for companies like Disney, Netflix, or Apple that could benefit from adding a hardware supplier</li>



<li>Zoom Video Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>): With a $26 billion market cap, Zoom needs a buyer with deep pockets like Google, Microsoft, or Apple, but the company has plenty of positive free cash flow and a sturdy balance sheet.</li>
</ul>



For <a href="https://www.benzinga.com/trading-ideas/24/12/42473024/5-merger-and-acquisition-targets-to-buy-before-trump-takes-over">more coverage, click here</a>.



For last week&#8217;s Deal Dispatch, <a href="https://www.benzinga.com/markets/24/12/42378209/deal-dispatch-ubisoft-in-buyout-talks-dental-supplier-explores-sale-beloved-drive-through-goes-bankrupt">click here</a>.



Now Read:



<ul>
<li><a href="https://www.benzinga.com/24/12/42391429/canopy-growth-closes-acreage-deal-expanding-us-cannabis-portfolio-heres-what-investors-need-to-know">Canopy Growth Wraps Up Acreage Acquisition Expanding US Cannabis Portfolio, What Investors Need To Know</a></li>
</ul>

BROS

IVAC

MDLZ

ROKU

Deal Dispatch: Hershey Wants More From Mondelez, Houlihan Shops Intevac, Onion And Infowars Saga Continues

SEC Charges Cantor Fitzgerald With Causing 2 SPACs To Make Misleading Statements



The Securities and Exchange Commission on Thursday <a href="https://www.sec.gov/newsroom/press-releases/2024-199">charged </a>&nbsp;financial services firm Cantor Fitzgerald, L.P. with causing two special purpose acquisition companies that it controlled to make misleading statements to investors ahead of their initial public offerings.&nbsp;



The SEC's Order states that a team of Cantor Fitzgerald executives controlled two SPACs in 2020 and 2021 which raised $750 million from investors through IPOs. The SEC's order finds that Cantor Fitzgerald caused the SPACs in their SEC filings to deny having had contact or substantive discussions with potential business combination targets prior to their IPOs.&nbsp;



However, the Order finds that at the time of each SPAC's IPO, Cantor Fitzgerald personnel had already begun negotiations with a group of potential target companies for the SPACs, including with View, Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VIEWQ#OTC">VIEWQ</a>) and Satellogic, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATL#NASDAQ">SATL</a>), the companies with which the SPACs eventually merged.



"Cantor Fitzgerald misled investors about a critical investment consideration by repeatedly stating in public filings that it had not identified or approached any potential merger targets, despite having had substantive discussions with several private companies regarding a potential merger, including with the companies with which its SPACs eventually merged," said Sanjay Wadhwa, Acting Director of the SEC's Division of Enforcement.



The order charges Cantor with causing violations of certain antifraud and proxy provisions of the federal securities laws. Cantor Fitzgerald agreed to cease and desist from violations of the charged provisions and to pay a $6.75 million civil penalty without admitting or denying the order's findings.&nbsp;



SEC Charges Former Comtech CEO with Insider Trading



The SEC <a href="https://www.sec.gov/newsroom/press-releases/2024-195">announced</a> insider trading charges on Wednesday against Ken Peterman, the former CEO of Comtech Telecommunications Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMTL#NASDAQ">CMTL</a>), in connection with his sale of Comtech shares ahead of Comtech's forthcoming negative quarterly earnings results.



According to the SEC complaint, Peterman received a confidential presentation detailing Comtech's forthcoming negative quarterly earnings results on March 4, 2024 and informed that he was being terminated for cause eight days later.&nbsp;



The SEC's complaint alleges that just a few hours after he was terminated, and while under two different trading blackouts, Peterman placed an order to sell Comtech stock.



On March 18, 2024, Comtech reported its negative quarterly earnings, which caused its stock price to drop more than 25 percent. The complaint alleges that Peterman avoided losses by selling the shares in advance of Comtech's negative earnings announcement.&nbsp;



Peterman also allegedly directed his financial advisor to sell additional Comtech stock he held in a joint account, but the financial advisor was unable to complete the sale. Peterman allegedly would have avoided additional losses of about $110,000 had the trade been executed.&nbsp;



"There is no gray area when it comes to trading on the basis of material non-public information in breach of one's fiduciary duty. C-suite executives like the defendant, a CEO with decades of experience, know that it is illegal to use their company's confidential information for their own financial gain," said Tejal D. Shah, Associate Director of the SEC's New York Regional Office.&nbsp;



"Our action today should serve as a strong deterrent to those executives who might think about going down the same path," Shah added.&nbsp;



The complaint charges Peterman with violating Section 10(b) of the Securities Exchange Act of 1934 and seeks permanent injunctive relief, disgorgement with prejudgment interest, civil penalties and a bar preventing Peterman from serving as an officer or director of a public company.



The U.S. Attorney's Office for the Eastern District of New York also announced criminal charges against Peterman on Wednesday. 



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/24/12/42370672/sofi-makes-spacex-accessible-for-retail-investors">SoFi Unlocks SpaceX Exposure For Retail Investors: Here&#8217;s How</a></li>
</ul>



Image: Shutterstock

Legal

Insider Trades

CMTL

SATL

VIEWQ

Financial Crime Weekly: Cantor Fitzgerald Charged With Violating AntiFraud Provisions, Ex-ComTech CEO Charged With Insider Trading

These twelve large-cap stocks were the best performers in the last week. Are they in your portfolio?



<ol>
<li>Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) shares jumped 25.22% after the company reported better-than-expected Q4 financial results and raised its <a href="https://www.benzinga.com//node/42480891" target="_blank" rel="noreferrer noopener">quarterly common stock dividend</a>. Several analysts boosted <a href="https://www.benzinga.com//node/42480891" target="_blank" rel="noreferrer noopener">the price forecast on the stock</a>.</li>



<li>Ciena Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIEN#NYSE">CIEN</a>) stock escalated 21.94% after the company reported <a href="https://www.benzinga.com//node/42460647" target="_blank" rel="noreferrer noopener">better-than-expected fourth-quarter sales results</a>. Several analysts raised <a href="https://www.benzinga.com/quote/cien/analyst-ratings" target="_blank" rel="noreferrer noopener">the price forecast on the stock</a>.</li>



<li>YPF Sociedad Anonima (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YPF#NYSE">YPF</a>) shares increased 14.64%. B of A Securities upgraded the stock from Neutral to Buy and raised its <a href="https://www.benzinga.com/quote/ypf/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast from $31 to $55</a>.</li>



<li>Warner Bros. Discovery, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) stock upped 13.23% after the board approved the company&#8217;s plans <a href="https://www.benzinga.com//node/42468724" target="_blank" rel="noreferrer noopener">to implement a new corporate structure</a>. Analysts upped the<a href="https://www.benzinga.com/quote/wbd/analyst-ratings" target="_blank" rel="noreferrer noopener"> company&#8217;s price forecast</a>.</li>



<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock jumped 12.08%. Wedbush Securities analyst Dan Ives sees the company achieving a $2 trillion market cap by<a href="https://www.benzinga.com//node/42455654" target="_blank" rel="noreferrer noopener"> 2025-end in a bull case scenario</a>.</li>



<li>Rubrik, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBRK#NYSE">RBRK</a>) shares rose 11.68% after the company announced its security cloud <a href="https://www.benzinga.com//node/42461084" target="_blank" rel="noreferrer noopener">government achieved FedRAMP authorization</a>.</li>



<li>Amer Sports, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AS#NYSE">AS</a>) stock rose 10.56%. Several analysts raised the <a href="https://www.benzinga.com/quote/as/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast on the stock</a>.</li>



<li>Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) stock surged 10.54% last week <a href="https://www.benzinga.com//node/42408445" target="_blank" rel="noreferrer noopener">after the analyst said</a> the company is &#8220;well-positioned to gain significant share.&#8221;</li>



<li>Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) stock increased 10.21% following reports the company has resumed production of its 737 MAX aircraft after a lengthy <a href="https://www.benzinga.com//node/42422912" target="_blank" rel="noreferrer noopener">halt caused by an employee strike</a>.</li>



<li>Astera Labs, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAB#NASDAQ">ALAB</a>) stock rose 9.75%.</li>



<li>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) stock upped 8.65% following the unveiling of a new quantum computing <a href="https://www.benzinga.com//node/42447332" target="_blank" rel="noreferrer noopener">chip with breakthrough capabilities</a>.</li>



<li>Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) stock was up 7.82%, probably in <a href="https://www.benzinga.com//node/42484676" target="_blank" rel="noreferrer noopener">sympathy with Broadcom</a>.</li>
</ol>



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Large Cap

ALAB

CIEN

GOOGL

RBRK

RIVN

Tesla, Alphabet And Broadcom Are Among Top Large Cap Gainers Last Week (December 9-13): Are The Others In Your Portfolio?

These eleven large-cap stocks were the worst performers in the last week. Are they in your portfolio?



<ol>
<li>MongoDB, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDB#NASDAQ">MDB</a>) stock dipped 22.19% after the company reported third-quarter results and analysts <a href="https://www.benzinga.com//node/42421831" target="_blank" rel="noreferrer noopener">revised the price forecast</a>.</li>



<li>Applovin Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) shares dived 19.19%.</li>



<li>CAVA Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAVA#NYSE">CAVA</a>) shares fell 17.78%. A director <a href="https://www.benzinga.com/quote/cava/analyst-ratings" target="_blank" rel="noreferrer noopener">recently disclosed share sales</a>.</li>



<li>Super Micro Computer, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) stock plummeted 17.03% despite CEO Charles Liang&#8217;s reassurances that the company&#8217;s stock <a href="https://www.benzinga.com//node/42432508" target="_blank" rel="noreferrer noopener">would not be delisted from Nasdaq</a>.</li>



<li>FTAI Aviation Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTAI#NASDAQ">FTAI</a>) shares decreased 16.16%.</li>



<li>Adobe Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) declined 15.78% after the company reported fourth-quarter financial results and issued worse-than-expected FY25 guidance. Several <a href="https://www.benzinga.com//node/42465629" target="_blank" rel="noreferrer noopener">analysts revised the price forecast</a> on the stock.</li>



<li>Ferguson Enterprises Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FERG#NYSE">FERG</a>) stock fell 13.57% after the company reported <a href="https://www.benzinga.com//node/42415051" target="_blank" rel="noreferrer noopener">worse-than-expected financial results</a>. Several <a href="https://www.benzinga.com/quote/ferg/analyst-ratings" target="_blank" rel="noreferrer noopener">analysts revised the price forecast</a>.</li>



<li>Toll Brothers, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) fell 13.14% after reporting <a href="https://www.benzinga.com//node/42418066" target="_blank" rel="noreferrer noopener">fourth-quarter results</a>. Several analysts <a href="https://www.benzinga.com/quote/tol/analyst-ratings" target="_blank" rel="noreferrer noopener">revised the price forecast</a> on the stock.</li>



<li>BeiGene, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BGNE#NASDAQ">BGNE</a>) shares were down 12.78%. The company secures global licensing agreement for novel MAT2A Inhibitor SYH2039 <a href="https://www.benzinga.com//node/42475817" target="_blank" rel="noreferrer noopener">to target MTAP-Deleted solid tumors</a>.</li>



<li>Omnicom Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMC#NYSE">OMC</a>) shares declined 12.67%. The company <a href="https://www.benzinga.com//node/42392555" target="_blank" rel="noreferrer noopener">agreed to acquire</a> Interpublic Group of Companies, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IPG#NYSE">IPG</a>) for $13 billion.</li>



<li>Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) stock fell 12.15% last week after UBS <a href="https://www.benzinga.com//node/42487192" target="_blank" rel="noreferrer noopener">downgraded the stock</a> from Buy to Neutral and lowered its price forecast from $171 to $156.</li>
</ol>



Image via Shutterstock

ADBE

BGNE

CAVA

FERG

FTAI

Super Micro Computer, Adobe And Nucor Are Among Top Large Cap Losers Last Week (December 9-13): Are The Others In Your Portfolio?

The past week has been a rollercoaster ride in the tech world. Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) bridged the gap between iPhones and Windows PCs, lawmakers demanded the removal of TikTok from app stores, and Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly introducing new features in its upcoming Watch Ultra. Let&#8217;s dive into the details.



Microsoft Bridges iPhone and Windows PCs Gap



Microsoft has made a significant move towards integrating iPhones and Windows PCs with its latest Phone Link update. This update allows Windows Insiders to share files between their iPhone and PC, enabling seamless transfer of photos, documents, and more.



<a href="https://www.benzinga.com/24/12/42455363/microsoft-brings-iphone-file-sharing-to-windows-pcs-with-new-phone-link-update-heres-what-you-need-to-know">Read the full article here.</a>



Lawmakers Demand Removal of TikTok from App Stores



U.S. lawmakers have instructed Apple and Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) to prepare for the removal of ByteDance-owned TikTok from their app stores by Jan. 19. This follows a federal appeals court ruling that requires ByteDance to divest TikTok in the U.S. or face a ban.



<a href="https://www.benzinga.com/24/12/42495579/lawmakers-demand-apple-and-google-remove-tiktok-by-jan-19-what-you-need-to-know">Read the full article here.</a>



See Also: <a href="https://www.benzinga.com/media/24/12/42407739/trump-announces-plans-to-have-dinner-with-amazon-founder-jeff-bezos-as-billionaire-rivals-turn-unexpected-allies-after-years-of-clashes?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Announces Plans To Have Dinner With Amazon Founder Jeff Bezos As Billionaire Rivals Turn Unexpected Allies</a>



Apple Watch Ultra to Feature Satellite Texting and Blood Pressure Measurements



Apple is reportedly set to introduce satellite texting and a non-invasive blood pressure tool in its upcoming Watch Ultra. The satellite feature will allow users to send texts via Globalstar Inc.'s satellites without cellular or Wi-Fi.



<a href="https://www.benzinga.com/24/12/42430306/apples-watch-ultra-next-year-could-come-with-satellite-texting-and-non-invasive-blood-pressure-technology-heres-what-we-know">Read the full article here.</a>



Unlocking Apple Intelligence Features with iOS 18.2



Apple rolled out iOS 18.2, packed with AI-powered features that might make your iPhone feel like it&#8217;s from the future. From crafting custom emojis to pointing your camera at objects for instant information, iOS 18.2 has something for everyone.



<a href="https://www.benzinga.com/tech/24/12/42453840/how-to-unlock-apple-intelligence-features-with-ios-18-2-everything-you-need-to-know">Read the full article here.</a>



Apple Faces $1.2B Lawsuit Over Child Sexual Abuse Material Detection



Apple is facing a $1.2 billion lawsuit for discontinuing its child sexual abuse material detection feature. The plaintiff alleges that Apple broke its promise to protect victims like her, claiming that images of her abuse were stored on iCloud.



<a href="https://www.benzinga.com/24/12/42381987/apple-faces-12b-lawsuit-for-dropping-csam-detection-while-google-and-meta-set-higher-standards-for-child-safety">Read the full article here.</a>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/general/social-media/24/12/42406434/meta-and-youtube-remove-accounts-of-luigi-mangione-but-x-reinstates-profile-elon-musk-says-happened-without-my-knowledge?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meta And YouTube Remove Accounts Of Luigi Mangione, But X Reinstates Profile</a></li>
</ul>



Photo courtesy: Shutterstock



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/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

GOOG

MSFT

Microsoft's iPhone File Sharing, Apple's Watch Ultra, $1.2 Billion Lawsuit And More: This Week In Appleverse

The week was a rollercoaster ride in the cryptocurrency world. From Peter Schiff&#8217;s advice to President Biden to sell all U.S.-owned Bitcoin, to a bearish turn in the Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) markets, and a potential surge in Dogecoin&#8217;s value, there was no shortage of action. Here&#8217;s a closer look at these stories.



Peter Schiff&#8217;s Advice to Biden



Renowned economist Peter Schiff has urged President Joe Biden to sell all Bitcoin owned by the U.S. before his term ends. Schiff believes this move could help reduce the country&#8217;s growing budget deficit. He shared his advice via a post, calling it the &#8220;one good thing&#8221; Biden could do before making way for a potential Donald Trump presidency.



<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42404610/peter-schiff-advises-biden-to-do-one-good-thing-before-his-term-ends-sell-all-the-bitcoin-held-by-the-us">Read the full article here.</a>



Bitcoin, Ethereum, Dogecoin Turn Bearish



Despite U.S. Bitcoin ETF inflows nearing $10 billion, cryptocurrency markets were trading lower on Monday. This includes Bitcoin, Ethereum, and Dogecoin, all of which turned red.



<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42399235/bitcoin-ethereum-dogecoin-turn-red-timeline-got-bearish-trader-notes">Read the full article here.</a>



Dogecoin&#8217;s Potential Surge



Popular crypto trader and analyst Ali Martinez has expressed optimism about Dogecoin&#8217;s future. Following a dip in Dogecoin&#8217;s value, Martinez plans to buy more of the meme coin, stating that it&#8217;s still early in the DOGE bull cycle. He predicts that Dogecoin could potentially reach $18 if things &#8220;go wild&#8221;.



<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42405504/dogecoin-can-touch-18-if-things-go-wild-says-influential-crypto-trader-thankful-for-the-dip-and-will-buy-more">Read the full article here.</a>



Microsoft&#8217;s Bitcoin Proposal



Ripple&#8217;s Stablecoin Approval Ripple Labs secured NYDFS approval for its RLUSD stablecoin, marking a significant milestone in its market expansion. The new stablecoin, pegged to the US dollar, is part of Ripple&#8217;s strategy to capitalize on the growing demand for stablecoins.



<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42423570/ripple-secures-nydfs-approval-for-rlusd-stablecoin-xrp-price-up-9">Read the full article here.</a>



Bitcoin&#8217;s Next Move



After soaring in 2024 due to several catalysts, including Bitcoin ETFs and more companies acquiring the cryptocurrency, Bitcoin has dipped. As speculation grows about its next move, over 60% of Benzinga readers predict that new all-time highs will be hit next, while others anticipate a further dip to $85,000.



<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42440369/bitcoins-next-move-105000-or-85000-poll-finds-over-60-say">Read the full article here.</a>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42482064/shiba-inu-burns-13-million-coins-in-24-hours-shib-chart-looks-primed-for-launch-very-soon-says-trader?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Burns 13 Million Coins In 24 Hours: &#8216;SHIB Chart Looks Primed For Launch Very Soon,&#8217; Says Trader</a></li>
</ul>



Photo courtesy: Shutterstock



 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/anan-ashraf" target="_blank" rel="noopener">Anan Ashraf.</a>

Schiff's Advice To Biden, Dogecoin's Potential Surge, Microsoft's Bitcoin Proposal, And More: This Week In Crypto

OpenAI&#8217;s CEO Sam Altman has made a surprising revelation. He chose not to take any equity in the company when it was established in 2015.



What Happened: Altman, a co-founder of the&nbsp;artificial intelligence firm, expressed&nbsp;at the New York Times&#8217;&nbsp;DealBook <a href="https://www.nytimes.com/events/dealbook/sessions/sam-altman-the-next-frontier">Summit </a>that his primary interest lies in leading the AI industry rather than in amassing wealth. His annual salary as OpenAI&#8217;s CEO is $76,000.



OpenAI, functioning as a nonprofit with a for-profit arm under Altman&#8217;s leadership, was recently valued at $157 billion. Despite the opportunity for a substantial equity stake, Altman chose to relinquish it to ensure a majority disinterested board, a prerequisite for the company&#8217;s nonprofit status.



Altman, who is already a billionaire with a&nbsp;net worth of $1.1 billion,&nbsp;primarily from equity in Stripe, Reddit, and Helion, perceives his role at OpenAI as a &#8220;childhood dream job&#8221; rather than a wealth generation source.



"This is my childhood dream job. Getting to work on artificial general intelligence and getting to sit in the room with the smartest researchers in the world and go on this crazy adventure, like that is what I always wanted to do," he said during the summit. 



Also Read: <a href="https://www.benzinga.com/tech/24/12/42378596/openais-chatgpt-makes-headway-in-search-threatening-googles-reign">OpenAI&#8217;s ChatGPT Makes Headway In Search, Threatening Google&#8217;s Reign</a>



His choice to refuse equity has stirred intrigue among investors, with some interpreting it as a lack of faith in the company&#8217;s success. Nonetheless, Altman has reiterated his dedication to OpenAI and its mission, irrespective of its for-profit status.



"If I could go back in time, I would have taken equity, just some little bit, just to never have to answer this question," Altman said.



Why It Matters: Altman&#8217;s decision to forgo&nbsp;an equity stake in OpenAI&nbsp;is a significant move, especially considering the company&#8217;s recent valuation. His choice underscores his commitment to the company&#8217;s mission and his belief in the transformative potential of artificial intelligence.



Altman&#8217;s decision also highlights the unique structure of OpenAI, which operates as a nonprofit but has a for-profit arm. This structure allows it to attract investment while maintaining a focus on its mission rather than profit.



Despite some investors&#8217; concerns, Altman&#8217;s decision could ultimately strengthen OpenAI&#8217;s position in the AI industry by reinforcing its commitment to its mission over profit.



Read Next



<a href="https://www.benzinga.com/news/24/07/39763462/whistleblowers-accuse-openai-of-hindering-staff-from-reporting-ai-risks" target="_blank" rel="noreferrer noopener">Whistleblowers Accuse OpenAI Of Hindering Staff From Reporting AI Risks</a>



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.

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Sam Altman Opted Out of Equity Stake In $157 Billion OpenAI, Prioritizing 'Dream Job' Over Wealth

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