Micron Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) reported second-quarter financial results Thursday after the bell. Here&#8217;s a look at the key details <a href="https://www.benzinga.com/pressreleases/25/03/g44424567/micron-technology-inc-reports-results-for-the-second-quarter-of-fiscal-2025">from the quarter</a>.



Q2 Earnings: Micron reported second-quarter revenue of $8.05 billion, beating the&nbsp;<a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">consensus estimate</a>&nbsp;of $7.89 billion. Total revenue was up from $5.82 billion on a year-over-year basis. 



The company reported second-quarter adjusted earnings of $1.56 per share, beating analyst estimates of $1.42 per share, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.



Operating cash flow came in at $3.94 billion versus $3.24 billion in the prior quarter and $1.22 billion in the comparable quarter last year. Adjusted free cash flow was $857 million in the second quarter. The company ended the period with $9.6 billion in cash, marketable investments and restricted cash.



&#8220;Micron delivered fiscal&nbsp;Q2&nbsp;EPS above&nbsp;guidance&nbsp;and data center revenue tripled from a year ago,&#8221; said&nbsp;Sanjay Mehrotra, president and CEO of Micron.



&#8220;We are extending our technology leadership with the launch of our 1-gamma DRAM node. We expect record quarterly revenue in fiscal&nbsp;Q3, with DRAM and NAND demand growth in both data center and consumer-oriented markets, and we are on track for record revenue and significantly improved profitability in fiscal 2025.&#8221;



Guidance: Micron expects third-quarter revenue of $8.8 billion, plus or minus $200 million, versus estimates of $8.49 billion. The company anticipates third-quarter adjusted earnings of $1.57 per share, plus or minus 10 cents per share, versus estimates of $1.47 per share.



Micron executives will further discuss the quarter on a conference call with analysts and investors at 4:30 p.m. ET.



MU Price Action: <a href="https://www.benzinga.com/quote/MU" target="_blank" rel="noreferrer noopener">Micron shares</a> were up 5.16% after hours, trading at $108.31 at the time of publication Thursday, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.



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Photo: Courtesy of Micron.

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Micron Q2 Earnings: Revenue Beat, Data Center Sales Triple, EPS Beat, Strong Guidance, Shares Jump

When the going gets tough, the tough get going. This old adage rings true in today&#8217;s volatile markets, as Warren Buffett&#8216;s Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) is on track for its strongest two-month performance relative to the <a href="https://www.benzinga.com/topic/warren-buffett">S&amp;P 500 since 2010. </a>



The Omaha-based conglomerate surged 10.3% in February 2025, marking its best month since March 2022, and has gained another 2.5% in March. 



Meanwhile, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the broader market, declined 1.3% in February and has plunged nearly 5% in March.



This performance has widened Berkshire's outperformance over the S&amp;P 500 to 20 percentage points since February, putting it on track for its best two-month run versus the index since February 2010.



In 2024, Berkshire Hathaway had only marginally outperformed the S&amp;P 500 by 1.8 percentage points. 



On Thursday, shares of Berkshire Hathaway Inc. New hit fresh record highs, closing at $528.73.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="529" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/20163601/image-185-1024x529.png" alt="" class="wp-image-834719" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/20163601/image-185-1024x529.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/20163601/image-185-300x155.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/20163601/image-185-768x396.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/20163601/image-185-1536x793.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/20163601/image-185.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3 class="wp-block-heading">Buffett's Long-Term View Holds</h3>



The stock's momentum aligns with Buffett's long-standing investment philosophy, as outlined in Berkshire's latest annual letter to shareholders.



The 93-year-old billionaire emphasized the company's patient, long-term approach: &#8220;Over time, we think it highly likely that gains will prevail – why else would we buy these securities? – though the year-by-year numbers will swing wildly and unpredictably. Our horizon for such commitments is almost always far longer than a single year. In many, our thinking involves decades. These long-termers are the purchases that sometimes make the cash register ring like church bells.&#8221;



Buffett also highlighted Berkshire's role as a major taxpayer, noting that the company has paid more in corporate income tax than any other U.S. firm in history, including tech giants with trillion-dollar valuations. In 2024 alone, Berkshire made four payments to the IRS totaling $26.8 billion, accounting for about 5% of all corporate taxes paid in the U.S.



<h3 class="wp-block-heading">Berkshire's Top Holdings</h3>



According to Berkshire's latest 13F filing as of December 2024, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) remained its largest holding, representing 28.1% of the company's portfolio. This was followed by American Express Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) at 16.8% and Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) at 11.2%.



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Buffett's Berkshire Hathaway Outpaces S&P 500 With Best 2-Month Run Since 2010

Casino stocks are entering a period of seasonal strength, fueled by a surge in sports betting, increased travel during spring break, and a potential spending <a href="https://www.benzinga.com/topic/gaming">boost from tax refunds.</a>



Seasonax data shows that four major casino operators rank among the top-performing S&amp;P 500 stocks between March 20 and April 20, based on two decades of market trends.



<h3 class="wp-block-heading">A Strong Seasonal Pattern For Casino Stocks</h3>



Shares of Caesars Entertainment Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NYSE">CZR</a>) have posted an average return of 7.4% during this period over the past 20 years, making it the fourth-best performing S&amp;P 500 stock. 



MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>) follows closely with 6.59% average gains.



Las Vegas Sands Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LVS#NYSE">LVS</a>) and Wynn Resorts Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WYNN#NYSE">WYNN</a>) also show strong seasonality, with respective average gains of 5.63% and 5.24% in this timeframe.



Historical data suggests this could be one of the strongest months for gaming stocks.



<h3 class="wp-block-heading">March Madness: A Billion-Dollar Betting Event</h3>



The NCAA March Madness tournament is one of the largest sports betting events in the U.S., generating billions in wagers. Sportsbooks—both online and in physical casinos—see massive betting volume. 



The American Gaming Association estimates that Americans will legally wager $3.1 billion on the men&#8217;s and women&#8217;s March Madness tournaments in 2025, an increase from $2.7 billion in 2024.



This surge in activity often translates into stronger Q1 results for casino operators.



<h3 class="wp-block-heading">Spring Break Brings Tourists and Big Spending</h3>



March and April mark peak spring break travel, driving increased foot traffic in key gambling destinations like Las Vegas and Atlantic City. 



Higher occupancy rates at resorts and casinos boost gaming revenue and non-gaming spending, benefiting companies such as Las Vegas Sands and Wynn Resorts.



Hotel room rates and casino floor activity typically see an uptick, reinforcing seasonal gains in gaming stocks.



<h3 class="wp-block-heading">Investors Positioning for Strong Q1 Earnings</h3>



The spike in betting activity and travel spending during March often sets up casino stocks for a strong earnings season in April. Investors tend to anticipate robust first-quarter results, which can push stock prices higher leading into earnings reports.



Las Vegas Sands Corp. is set to report its quarterly earnings on Apr. 16, a key event that could set the tone for the broader casino and gaming industry.



Other major casino operators, including Caesars Entertainment, MGM Resorts International, and Wynn Resorts, are scheduled to release their earnings reports in early May.



<h3 class="wp-block-heading">The April Effect: Tax Refunds and Consumer Spending</h3>



Another key driver of seasonal gains is the arrival of tax refunds in March and April. 



Historically, discretionary spending rises during this period, with some of that extra cash flowing into casinos, sports betting, and entertainment venues.



For many Americans, tax refunds act as an additional source of disposable income, contributing to higher gaming revenue. This effect could further support the positive seasonal trend seen in casino stocks.



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Gaming

Macro Economic Events

Sports Betting

Econ #s

Economics

WYNN

Casino Stocks Set For A Winning Streak: Why March Madness, Spring Break Could Fuel Big Gains

U.S. consumers are feeling the cost of living squeeze amid higher housing costs, slower wage growth and rising unemployment fears, raising concerns about how much longer they can keep <a href="https://www.benzinga.com/topic/expert-ideas">spending on discretionary items.</a>



While the labor market has provided a cushion thus far, cracks are emerging, testing the resilience of household budgets and their ability to sustain the broader economy.



In a report released Thursday, Joe Wadford, an economist at the Bank of America Institute, said that while overall consumer spending remains resilient, financial headwinds are mounting—particularly for lower-income consumers.



&#8220;Consumer resilience continues, but cost-of-living increases, slowing wage growth, and unemployment fears are a headwind for some,&#8221; Wadford said.



<h3 class="wp-block-heading">Housing Costs Are Squeezing Budgets</h3>



The biggest challenge for many households is the rising cost of housing, which is hitting lower-income consumers the hardest. According to Bank of America payments data, rent and mortgage payments for this group were up 11% in February compared to the 2023 average, while higher-income customers saw a smaller increase of 9%.



&#8220;It's likely that lower-income consumers are getting hit harder as apartment rental increases spread to less expensive areas,&#8221; the report said. 



Higher-income households may be faring better because &#8220;homeownership tends to skew toward higher-income individuals, and monthly mortgage payments typically do not change over time.&#8221;



For lower-income households, housing is their largest expense, consuming nearly half of their after-tax income, followed by transportation, groceries and utility bills.



&#8220;These expenses account for around 95% of their after-tax income,&#8221; Bank of America data revealed, leaving little room for discretionary spending.



<h3 class="wp-block-heading">Consumers Have Slightly Cut Back Spending</h3>



Despite rising costs, discretionary spending—on goods such as electronics, travel, and restaurants—has remained relatively stable over the past year. 



Bank of America's payments data shows that while spending on these items has declined compared to two years ago, the rate of decrease has slowed.



&#8220;Customers with lower incomes spent a higher share of their paychecks on necessities and have seen a larger decline in discretionary spending over the past two years than other income cohorts,&#8221; the report said. 



Yet, the report highlighted that the rate of decline has more than halved in the past year, with discretionary spending as a share of total outflows falling by just 0.3 percentage points in February, compared to a 0.8 percentage point decline the previous year.



Discretionary-related stocks have struggled this year. The Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>), which tracks major names like Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Home Depot Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>), and Booking Holdings Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), is down 11% year to date, underperforming all other S&amp;P 500 sectors.



<h3 class="wp-block-heading">The Labor Market Is Holding Up, But Cracks Are Emerging</h3>



A strong labor market has helped sustain consumer spending so far, but that is not warranted to be the case also in the future.



Households across all income levels have seen post-tax wages and salaries rise year over year. While deposits are declining, &#8220;they're not declining as fast as they were last year,&#8221; according to Bank of America data.



Signs of weakness are emerging. The U.S. unemployment rate stood at 4.1% in February, higher than in previous years, and consumer expectations around job security have deteriorated. 



In its March economic projection, the Federal Reserve upwardly revised the unemployment rate from 4.3% to 4.4% for 2025.



The University of Michigan's Survey of Consumers found that 66% of respondents in March expect unemployment to worsen over the next 12 months—the highest share in the past 10 years.



&#8220;It's 14% higher than it was in the first two months of the COVID-19 pandemic,&#8221; the report highlighted, suggesting that consumer fears about job losses could soon impact their spending decisions.



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Analyst Ratings

AMZN

BKNG

TSLA

US Consumers Face Risks As Rising Cost Of Living, Job Market 'Cracks' Threaten Spending, Bank of America Warns

Existing home sales rebounded sharply in February, marking a 4.2% monthly increase, while median prices inched closer<a href="https://www.benzinga.com/real-estate"> to the $400,000 milestone. </a>



With inventory rising but still tight, some analysts say the housing market may be setting up for another leg higher, potentially defying affordability concerns.



According to a report released Thursday by the National Association of Realtors, February&#8217;s seasonally adjusted annualized sales rate hit 4.26 million homes. While that's down 1.2% from a year earlier, it marks a notable reversal from recent months of stagnation.



<h3 class="wp-block-heading">Rising Prices, Tighter Inventory: Recipe For Another Surge?</h3>



The median sales price of an existing home climbed 3.8% year-over-year to $398,400, its 20th consecutive month of gains. Even as higher mortgage rates have sidelined some buyers, a persistent housing shortage is keeping pressure on prices.



Inventory has been a persistent issue in the housing market, with the supply of unsold homes rising 5.1% from January to 1.24 million units. At the current sales pace, that represents 3.5 months' worth of supply—a slight improvement but still well below the six-month threshold considered balanced for buyers and sellers.



&#8220;Home buyers are slowly entering the market,&#8221; said NAR chief economist Lawrence Yun. &#8220;Mortgage rates have not changed much, but more inventory and choices are releasing pent-up housing demand.&#8221;



Despite rising supply, housing shortages remain a structural issue. Homeowners who locked in ultra-low mortgage rates during the pandemic have been reluctant to sell, constraining inventory and keeping prices elevated.



Each 1% increase in home prices translates into approximately $350 billion in added housing equity for U.S. property owners, Yun said. That's nearly $1.3 trillion in home value appreciation at a time when the stock market is undergoing a correction.



<h3 class="wp-block-heading">Anomaly Between Housing And Wages</h3>



Bravos Research, in a Thursday email, highlighted the extraordinary divergence between home prices and wages.



&#8220;U.S. housing&#8217;s next big move could shock everyone,&#8221; analysts said.



Over the last decade, home prices have jumped 150%, while wages have risen just 57%. In contrast, during the 1980-2003 period, it took 23 years for home prices to climb that much.



"Today, home prices are at the highest levels in history relative to wages, making this one of the most unaffordable housing markets of the last 60 years," Bravos Research noted.



With home prices climbing and affordability worsening, some fear a repeat of the 2008 housing crash. Yet, key differences in debt levels and lending standards suggest otherwise.



A decade ago, the U.S. housing market was propped up by excessive leverage. In 2007, mortgage debt represented 75% of the country's GDP. But today, that figure has steadily declined below 50%, signaling a more stable credit environment.



Unlike the lead-up to the financial crisis, home prices are rising without reckless mortgage lending.



This suggests that, while expensive, housing is not in a speculative bubble fueled by debt, according to Bravos Research. 



<h3 class="wp-block-heading">Could Home Prices Climb Another 50%?</h3>



Historically, real estate values and stock markets tend to move in sync. Yet today, while stocks have surged, home prices have lagged.



Bravos Research pointed to a similar divergence in the late 1990s—right before housing prices took off.



&#8220;We actually believe home prices can still climb!&#8221; the firm said. &#8220;This could suggest as much as a 50% rise in home prices over the next few years—comparable to what we saw between 2019 and 2022.&#8221;



If history repeats itself, real estate values may be poised for another sharp leg higher.



The Vanguard Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNQ#NYSE">VNQ</a>) is up nearly 3% year-to-date, outperforming the S&amp;P 500 index, tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which has fallen by 3.5% in the same period. 



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Sector ETFs

US Home Sales Jump In February, Median Price Nears $400,000: 'Next Big Move Could Shock Everyone,' Analysts Say

U.S. stocks traded sideways on Thursday as investors digested Federal Reserve Chair Jerome Powell's remarks on inflation and tariffs following the Federal Open Market<a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44405112/tariff-inflation-may-be-transitory-powell-says-stocks-rally-bitcoin-clears-85000-as-bulls-return"> Committee meeting on Wednesday.</a> 



Powell downplayed concerns that tariffs imposed by President Donald Trump could reignite inflation, calling their impact "transitory." Yet, the Fed's latest projections signaled slower economic growth, rising unemployment and hotter inflation. 



By midday in New York, major indexes were little changed, with financial stocks leading modest gains. 



Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) extended its rally to fresh record highs, on track for a sixth consecutive positive session. The stock's year-to-date outperformance over the S&amp;P 500 has widened to 20 percentage points.



In commodities, gold edged lower as the U.S. dollar strengthened, while Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) slid 2.8%, dipping below $85,000. Oil prices jumped 1.5% to $67 per barrel amid escalating geopolitical tensions, as Israel launched a new ground operation in Gaza, breaking a two-month ceasefire.



<h3 class="wp-block-heading">Thursday&#8217;s Performance In Major US Indices, ETFs</h3>



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Major Indices</td><td>Price</td><td>1-day %chg</td></tr><tr><td>Dow Jones</td><td>42,081.53</td><td>0.3%</td></tr><tr><td>S&amp;P 500</td><td>5,674.16</td><td>0.0%</td></tr><tr><td>Russell 2000</td><td>2,080.75</td><td>0.0%</td></tr><tr><td>Nasdaq 100</td><td>19,711.27</td><td>-0.1%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated at 12:30 p.m. ET</figcaption></figure>



According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:



<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) inched 0.1% down to $566.56.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 0.2% to $421.00.</li>



<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;slipped 0.2% to $479.28.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) eased 0.2% to $206.03</li>



<li>The&nbsp;Financial&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) outperformed, up 0.6%; the&nbsp;Technology&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) lagged, down 0.6%.</li>
</ul>



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



<ul>
<li>Darden Restaurants Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) rose 5.4% in reaction to stronger-than-expected earnings. </li>



<li>Other stocks reacting to corporate earnings were Jabil Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>), up 5.2%, Accenture plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>), down 7.2%, PDD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>), up 2%, Five Below Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NYSE">FIVE</a>), up 7%, Facset Research Systems (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDS#NYSE">FDS</a>).</li>



<li>Companies slated to report their earnings after the close include Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>), Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), FedEx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>), Lennar Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>). </li>
</ul>



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Federal Reserve

$BTC

FIVE

Wall Street Holds Steady As Buffett's Berkshire Hathaway Notches Record Highs: What's Driving Markets Thursday?

U.S. President Donald Trump called on Congress to pass stablecoin legislation during his address at the Blockworks Digital Asset Summit in New York City, emphasizing the need for clear rules to foster <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44415405/donald-trump-reportedly-making-big-announcement-for-next-steps-in-crypto-policy-at-digital-asset-summit-on-thursday">innovation in the cryptocurrency sector. </a>



What Happened: Speaking to an audience of crypto industry leaders, Trump highlighted the potential of stablecoins to enhance the U.S. financial system and maintain the dollar's global dominance, marking his first address at a crypto conference as a sitting president.



The summit, held at 10:40 AM ET, follows a series of <a href="https://www.benzinga.com/government/regulations/25/03/44195822/what-will-trump-say-at-white-house-crypto-summit-bets-favor-ai-xrp-solana">pro-crypto actions</a> by the Trump administration, reflecting a shift from previous regulatory hostility toward digital assets.



Trump underscored the importance of a legal framework for stablecoins, which he believes will enable institutions to invest and innovate freely. 



"I've also called on Congress to pass landmark legislation creating simple, common-sense rules for stable coins and market structure," he stated, framing the move as a critical step in a broader technological revolution. 



He further emphasized the potential benefits, saying, "With the right legal framework, institutions large and small will be liberated to invest, innovate, and take part in one of the most exciting technological revolutions in modern history."



The push for <a href="https://in.benzinga.com/markets/cryptocurrency/25/03/44419298/why-the-future-of-stablecoins-like-usdt-usdc-looks-bright-report#:~:text=A%20stablecoin%2Dnative%20economy%20could,replacing%20fiat%20in%20mainstream%20finance.">stablecoin legislation</a> aligns with Trump's vision to position the U.S. as the global leader in crypto, a goal he reiterated by pledging to make America "the undisputed Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) superpower and the crypto capital of the world."



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44414660/coinbase-sold-12652-eth-according-to-standard-chartered-analysis">Coinbase Sold 12,652 ETH, According To Standard Chartered Analysis</a>



Why It Matters: The address comes on the heels of Trump's recent crypto initiatives, including the White House Digital Asset Summit two weeks prior, led by AI and crypto czar David Sachs, and an executive order signed the same week establishing the <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44197287/us-to-conduct-full-audit-of-bitcoin-holdings-following-strategic-reserve-executive-order">Strategic Bitcoin Reserve</a> and U.S. Digital Asset Stockpile. 



Trump criticized the Biden administration's handling of crypto assets, noting, "Biden got a fraction of their value," in reference to the government's past sales of seized Bitcoin. 



He also highlighted the termination of Operation Choke Point 2.0, a policy he described as "a form of lawfare through government weaponization," which had restricted banking access for crypto firms. 



The event, attended by figures like Ripple (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) CEO Brad Garlinghouse and Strategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) executive chairman Michael Saylor, points toward a growing government engagement with the crypto industry.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44407461/recession-would-be-a-big-catalyst-for-bitcoin-blackrocks-head-of-digital-assets-says">Recession Would Be &#8216;A Big Catalyst For Bitcoin,&#8217; BlackRock&#8217;s Head Of Digital Assets Says</a></li>
</ul>



Image created using artificial intelligence with Midjourney.

Cryptocurrency

$XRP

MSTR

Donald Trump Calls For Stablecoin Legislation, Lauds Bitcoin Reserve: 'Biden Got A Fraction Of Their Value'

Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) has already cemented its dominance in AI. Still, JPMorgan analyst Harlan Sur sees the chip giant poised for even bigger gains &#8211; potentially outgrowing <a href="https://www.benzinga.com/quote/NVDA/news">overall data center spending</a>.



With AI factories emerging as wildcards and inference demand set to explode, Nvidia might be sitting on an untapped goldmine.



<h2 class="wp-block-heading">Nvidia's Next-Gen AI Advantage</h2>



At its recent financial analyst event, Nvidia laid out its roadmap, emphasizing its holistic ecosystem spanning silicon, hardware, software, and a developer base that dwarfs its competition. 



While rivals are still chasing Nvidia's last-gen Hopper GPUs, the company is already rolling out its next-gen Blackwell architecture—promising a staggering 40x performance improvement. 



Sur believes this head start, combined with Nvidia's unrivaled software stack, positions it to dominate AI inference, which could account for 90% of the market in the long run.



Read Also: <a href="https://www.benzinga.com/25/03/44396940/nvidias-ai-reign-extends-to-2028-jpmorgan-says-its-still-1-2-steps-ahead">Nvidia Extends AI Reign To 2028: JPMorgan Says It&#8217;s Still &#8216;1-2 Steps Ahead&#8217;</a>



<h2 class="wp-block-heading">The AI Factory Wildcard</h2>



One of the biggest wildcards? AI factories. 



While Nvidia's projections already factor in data center spending, Sur notes that AI factory investments &#8211; potentially worth hundreds of billions &#8211; aren't even included in those forecasts yet. If this sector takes off as expected, Nvidia's upside could be even greater than current estimates suggest.



<h2 class="wp-block-heading">Strong Margins And Market Position</h2>



Meanwhile, custom AI chips from competitors may offer cost savings, but Sur argues that Nvidia's total cost of ownership advantage and revenue-generating potential give it the upper hand. While others scramble to optimize their ASIC solutions, Nvidia continues to integrate its hardware and software seamlessly, making adoption far easier for enterprises.



Despite the complexity of transitioning from Hopper to Blackwell, Nvidia expects to stabilize its architecture over the next three to four years, improving margins while maintaining its aggressive lead. With gross margins projected to hit the mid-70% range, the company looks well-positioned to sustain its dominance in AI.



JPMorgan remains bullish, reiterating an Overweight rating on Nvidia stock with a price target of $170 by year-end 2025. 



With data center spending accelerating, AI factories emerging and inference demand surging, Nvidia's growth story may still be in its early chapters.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/trading-ideas/technicals/25/03/44401363/nvidia-stock-nears-a-death-cross-can-the-gtc-ai-hype-save-it">Nvidia Stock Nears A Death Cross &#8211; Can The GTC AI Hype Save It?</a></li>
</ul>



Photo: Shutterstock

Long Ideas

Trading Ideas

NVDA

Is Nvidia Sitting On The AI Goldmine No One Sees Yet?

President Donald Trump wasted no time in pressuring the Federal Reserve to lower interest rates, calling Apr. 2 &#8211; when reciprocal tariffs take effect &#8211; <a href="https://www.benzinga.com/topic/donald-trump">&#8220;Liberation Day in America.&#8221; </a>



Meanwhile, the Fed signaled rising economic uncertainty, slashed growth forecasts and raised inflation expectations, leaving markets to decipher its next move.



In a post on his Truth Social platform shortly after the Federal Open Market Committee (FOMC) kept interest rates steady at 4.25%-4.50% on Wednesday, Trump urged the Central Bank to &#8220;do the right&#8221; thing and cut rates.



He indicated that tariffs would &#8220;transition their way through the economy,&#8221; justifying lower borrowing costs.



<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 Fed would be MUCH better off CUTTING RATES as U.S.Tariffs start to transition (ease!) their way into the economy. Do the right thing. April 2nd is Liberation Day in America!!!&mdash; Trump Posts on &#120143; (@trump_repost) <a href="https://twitter.com/trump_repost/status/1902543516565373380?ref_src=twsrc%5Etfw">March 20, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h3 class="wp-block-heading">Fed&#8217;s New Economic Outlook: Slower Growth, Stubborn Inflation</h3>



The Federal Reserve's latest economic projections painted a more challenging picture for the U.S. economy compared to December. 



The Fed now expects real GDP to expand by just 1.7% this year, down from its prior 2.1% estimate. Growth projections for 2026 and 2027 were also revised slightly downward. 



At the same time, inflation estimates rose, with the Personal Consumption Expenditures price index forecasted to reach 2.7% in 2025, up from 2.5%. The core PCE inflation rate, which excludes food and energy, was also revised upward to 2.8% from 2.5%.



The Fed maintained its projection for two rate cuts this year and the next. 



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><thead><tr><th>Variable</th><th>2025</th><th>2026</th><th>2027</th><th>Longer Run</th></tr></thead><tbody><tr><td>Change in real GDP</td><td>1.7</td><td>1.8</td><td>1.8</td><td>1.8</td></tr><tr><td>Dec. projection</td><td>2.1</td><td>2.0</td><td>1.9</td><td>1.8</td></tr><tr><td>Unemployment rate</td><td>4.4</td><td>4.3</td><td>4.3</td><td>4.2</td></tr><tr><td>Dec. projection</td><td>4.3</td><td>4.3</td><td>4.3</td><td>4.2</td></tr><tr><td>PCE inflation</td><td>2.7</td><td>2.2</td><td>2.0</td><td>2.0</td></tr><tr><td>Dec. projection</td><td>2.5</td><td>2.1</td><td>2.0</td><td>2.0</td></tr><tr><td>Core PCE inflation</td><td>2.8</td><td>2.1</td><td>2.0</td><td></td></tr><tr><td>Dec. projection</td><td>2.5</td><td>2.1</td><td>2.0</td><td></td></tr><tr><td>Federal funds rate</td><td>3.9</td><td>3.4</td><td>3.1</td><td>3.0</td></tr><tr><td>Dec. projection</td><td>3.9</td><td>3.4</td><td>3.1</td><td>3.0</td></tr></tbody></table><figcaption class="wp-element-caption">Source: Federal Reserve</figcaption></figure>



<h3 class="wp-block-heading">Powell Dismisses Tariffs Worries, But Markets See Dovish Tilt</h3>



Despite the inflation uptick, Fed Chair Jerome Powell struck a cautious but reassuring tone, suggesting that tariff-driven price increases may be &#8220;transitory&#8221; and not necessarily warrant monetary intervention. 



Yet, he admitted that many of his colleagues adjusted their inflation forecasts to reflect the impact of higher tariffs.



Powell also downplayed concerns from the latest University of Michigan&#8217;s Consumer Survey, which showed inflation expectations hitting 30-year highs, calling the data potentially an outlier.



When asked about the possibility of a rate cut in May, Powell made it clear: &#8220;We&#8217;re not going to be in any hurry to move.&#8221;



Markets took the Fed's stance as dovish, with both the U.S. dollar and Treasury yields weakened.



&#8220;Market interpreted the Fed as incrementally/slightly dovish on balance, with the USD depreciating between 0.2% and 0.5%,&#8221; Bank of America economist Aditya Bhave said. 



&#8220;In our view, this puts a lot of focus on the New York Fed inflation expectations measure. If it were to also pick up, Powell could change his tone.&#8221; 



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was 0.6% lower during Thursday premarket trading in New York after closing 1.1% higher a day earlier.



Read now: 



<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44406928/economists-react-to-powell-we-are-now-seeing-the-stag-and-the-flation">Economists React To Powell: &#8216;We Are Now Seeing The Stag And The Flation&#8217;</a></li>
</ul>



Photo: Shutterstock

Government

Regulations

Trump Urges Fed To Cut Interest Rates As 'Liberation Day In America' Looms

In the wake of escalating vandalism incidents, Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) owners are calling on CEO Elon Musk to implement enhanced security features.



What Happened: Reports of Tesla vehicles being set ablaze and showrooms being defaced have surged across the United States and in countries such as France and Germany. Even minor damages like keying can cause up to $1,000 in damages, often not covered by insurance or subject to high co-pay fees. Hence, vehicle owners are demanding additional security features for protection, <a href="https://fortune.com/2025/03/19/scared-tesla-owners-petition-elon-musk-to-help-prevent-car-attacks/">reported</a> Fortune.



Tesla owner and investor Sawyer Merritt expressed his concerns in an online forum, &#8220;I&nbsp;really hope Tesla is working&nbsp;on some sort of defensive&nbsp;measures…just something extra to make&nbsp;Tesla owners feel a little&nbsp;bit better about parking in&nbsp;public parking lots.&#8221;



Although all&nbsp;Tesla cars feature&nbsp;a Sentry Mode that records suspicious activity, it has not been effective in deterring vandalism as many individuals are oblivious to the fact that they are being recorded. Recent arson incidents in Las Vegas and an attack at a Kansas City showroom have heightened these concerns.



Despite Tesla vehicles&#8217; operating system&#8217;s ability to add new features through over-the-air updates, no such security enhancements have been introduced yet. This is amid speculations that Tesla owners are being targeted due to Musk&#8217;s controversial federal cost-cutting role in the Department of Government Efficiency (DOGE)



John Stringer, President of the Tesla Owners Silicon Valley club, stated, &#8220;Within the community, there definitely is fear right now.&#8221;



SEE ALSO: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44363871/peter-schiff-slams-bitcoin-etfs-calls-selling-gold-for-btc-worst-timed-trade-in-history">Peter Schiff Slams Bitcoin ETFs, Calls Selling Gold For BTC &#8216;Worst-Timed Trade In History&#8217;</a>



Why It Matters: This plea for enhanced security comes on the heels of&nbsp;<a href="https://www.benzinga.com/markets/equities/25/03/44390358/elon-musk-calls-it-extreme-domestic-terrorism-after-website-publishes-data-on-us-tesla-owners">reports</a>&nbsp;that a website named &#8220;Dogequest&#8221; had published personal information of Tesla owners across the U.S. The website featured an interactive map with a Molotov cocktail cursor, and the data leak included names, addresses, and phone numbers of Tesla owners.&nbsp;



Elon Musk condemned the act, labeling it as &#8220;extreme domestic terrorism.&#8221; &nbsp;In Tuesday's interview on Fox News's&nbsp;Sean Hannity,&nbsp;Musk&nbsp;responded to the protests, expressing surprise at the "level of hatred&nbsp;and violence from the [political]&nbsp;left."



Also, U.S. Attorney General&nbsp;Pam Bondi called the&nbsp;ongoing vandalism against Tesla vehicle owners &nbsp;"nothing short of domestic terrorism" and vowed to impose severe penalties on offenders if apprehended. Meanwhile, CNN reported that the FBI is investigating incidents of Tesla vehicles being shot at and set on fire at a facility in Las Vegas.



On Wednesday, Tesla climbed 4.68% to close at $235.86. Over the past 30 days, the stock lost more than 33%, as per <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.



<ul>
<li>READ MORE: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/03/44410479/federal-reserve-brings-back-transitory-inflation-amid-tariff-war-economist-mohamed-el-erian-calls-it-a-big-policy-mistake">Federal Reserve Brings Back &#8216;Transitory&#8217; Inflation Amid Tariff War: Economist Mohamed El-Erian Calls It A &#8216;Big Policy Mistake&#8217;</a></li>
</ul>



Image via Shutterstock



Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Markets

Tesla Owners Call On Elon Musk For Advanced Security Features Amid Rising Vandalism: 'There Definitely Is Fear Right Now'

President Donald Trump is set to address the Digital Asset Summit (DAS) in New York City later today and is expected to make key announcements related to <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44363340/crypto-leaders-step-up-pressure-on-sec-as-trumps-policies-reshape-regulatory-landscape">crypto policies in the United States</a>.



This marks the first time a sitting U.S. president will speak at a cryptocurrency conference.



What Happened: Hosted by Blockworks, the event has drawn significant attention from the crypto community, with expectations of a major announcement on Trump's next steps for crypto policy.



The summit follows Trump's recent pro-crypto actions, including the establishment of a <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44397546/bitcoin-could-reach-200000-in-2025-if-fed-relaxes-policy-bitwises-matt-hougan-says">Strategic Bitcoin Reserve</a>, as the industry seeks clarity on regulatory frameworks and economic policies impacting digital assets.



Eleanor Terrett, a former Fox Business reporter, <a href="https://x.com/EleanorTerrett/status/1902414828016210050">shared</a> on X that Trump's appearance might be either a livestream or a pre-recorded speech, noting the fluid nature of the president's schedule.



"I'm told this may yet happen but could also be done via a taped recording," Terrett stated, adding, "A big announcement regarding [Trump's] plans for next steps in crypto policy is coming imminently out of the [Blockworks DAS]." 



The anticipation stems from Trump's earlier moves, such as signing an executive order on March 7 to create a Strategic Bitcoin Reserve using 200,000 seized Bitcoin, valued at approximately $17 billion, and a separate Digital Asset Stockpile for other cryptocurrencies.



Hunter Horsley, CEO of Bitwise Asset Management, highlighted the significance of the event on X, <a href="https://x.com/HHorsley/status/1902507068554408274">stating</a>, "The year America woke up and started to lead in fostering Bitcoin &amp; crypto."



The lack of new Bitcoin purchases disappointed some investors, with Bitcoin's price dropping to $86,400 levels on March 8.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44395095/recession-would-be-a-big-catalyst-for-bitcoin-blackrocks-head-of-digital-assets-says">Recession Would Be &#8216;A Big Catalyst For Bitcoin,&#8217; BlackRock&#8217;s Head Of Digital Assets Says</a>



Why It Matters: This sentiment aligns with Trump's recent rhetoric, <a href="https://truthsocial.com/@realDonaldTrump/114192326899482441">including </a>a Truth Social post on March 20, where he urged the Federal Reserve to cut interest rates to support economic transitions, writing, "The Fed would be MUCH better off CUTTING RATES as U.S. Tariffs start to transition (ease!) their way into the economy. Do the right thing."



While not directly mentioning crypto, the post reflects Trump's focus on economic policies that could indirectly influence digital asset markets, especially as the industry looks for signals on capital gains tax adjustments or regulatory clarity.



Sources indicate that attendees at the summit, including Ripple (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) CEO Brad Garlinghouse and Strategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) executive chairman Michael Saylor, expect discussions on regulatory frameworks, U.S. competitiveness in the digital asset space, and Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) role as a store of value. 



The industry also expects potential announcements, such as eliminating capital gains tax on Bitcoin or expanding government-backed crypto reserves, though these remain unconfirmed. 



The summit follows Trump's <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44125213/white-house-crypto-summit-to-feature-roundtable-with-industry-leaders-including-michael-saylor">White House Crypto Summit</a> on March 7, where he pledged to make the U.S. the "crypto capital of the world," a promise that has fueled industry optimism despite recent market volatility.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44394754/cathie-wood-hops-on-tokenization-hype-train-says-wed-love-to-tokenize-our-venture-fund">Cathie Wood Hops On Tokenization Hype Train, Says &#8216;We&#8217;d Love To Tokenize Our Venture Fund&#8217;</a></li>
</ul>



Image: Shutterstock

Donald Trump Reportedly Making 'Big Announcement' For 'Next Steps In Crypto Policy' At Digital Asset Summit On Thursday

Copper prices have surged above $10,000 per metric ton on the London Metal Exchange (LME) for the first time since October. On LME, copper has gained 14% year-to-date, while <a target="_blank" href="https://www.benzinga.com/topic/copper" rel="noreferrer noopener">U.S. copper futures</a> surged 26%.



The price differential widened to $1,200 per metric ton, creating arbitrage opportunities. Since copper futures result in physical delivery on maturity, buyers have scrambled to move supplies into the U.S.



Between 100,000 and 150,000 metric tons of copper will arrive in the U.S. in the coming weeks, potentially surpassing the monthly import record of 136,951 tons set in January 2022.



Leading commodity traders, including Trafigura, Glencore, and Gunvor, have aggressively rerouted shipments, with additional warehouse space being secured in New Orleans and Baltimore to handle the influx.



Still, the 12% differential between the domestic and foreign copper prices is around half of anticipated copper tariffs.



On February 25, President Donald Trump signed an executive action directing the U.S. Commerce Department to investigate copper imports on national security grounds. Leading institutions, including Goldman Sachs and Citigroup, responded, predicting a <a target="_blank" href="https://www.benzinga.com/news/guidance/25/03/44271394/goldman-sachs-sees-copper-imports-increasing-tariffs-as-fcx-positions-to-benefit" rel="noreferrer noopener">25% tariff</a> on imported copper by year-end.



"Copper's rise is being driven solely by supply concerns surrounding the potential for universal tariffs to be placed on all imports of copper into the US," Natalie Scott-Gray, a senior metals demand analyst at StoneX, <a target="_blank" href="https://x.com/neilksethi/status/1902053890079535258" rel="noreferrer noopener">said</a>, warning about the high reliance on foreign copper.



According to ING, in 2024, the U.S. imported <a target="_blank" href="https://think.ing.com/articles/industrial-metals-monthly-us-copper-tariff-risks-pull-more-metal-to-the-us/" rel="noreferrer noopener">850,000 tons</a> of refined copper, excluding scrap. Chile was the largest supplier, accounting for 41% of imports, while 27% came from Canada.



Despite efforts to increase local production, output has steadily declined, falling 3% in 2024 after an 11% drop in 2023. Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>), the largest U.S. producer, has faced declining ore grades, environmental regulations, and permitting challenges, limiting the ability to ramp up domestic supply.



The firm's CEO, Kathleen Quirk, has called for Trump's administration to classify copper as a critical mineral, anticipating a $500 million windfall from tax credits tied to the Inflation Reduction Act. Quirk sees Freeport's domestic production growing by 8%, targeting an output of 225,000 metric tons, none of which will be exported.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/03/44375055/trump-turns-to-beautiful-clean-coal-to-address-domestic-energy-demand" target="_blank" rel="noreferrer noopener">Trump Turns To ‘Beautiful, Clean Coal' To Address Domestic Energy Demand</a></li>
</ul>



Photo via Shutterstock

Commodities

Legal

COPX

CPER

FQVLF

JJCTF

LUNMF

MTAL

SCCO

Copper Surges As Arbitrage Opportunity Drives US Imports

U.S. stock futures declined on Thursday following the Federal Open Market Committee&#8217;s (FOMC) decision on Wednesday. Futures of all four benchmark indices were lower in premarket trading.



On Wednesday, the stocks advanced after Federal Reserve Chairman Jerome Powell announced that the inflation caused by President Donald Trump&#8217;s tariffs would be &#8220;transitory&#8221; in nature. Furthermore, the &#8220;dot plot&#8221; projected two rate cuts in 2025, maintaining the Fed&#8217;s initial forecast.



The 10-year Treasury yield stood at 4.22%, while the two-year yield was at 3.97%. According <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">to</a> the CME Group's FedWatch tool, there is an 82.6% chance that the Federal Reserve will keep the interest rates unchanged during its May meeting.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Nasdaq 100</td><td>-0.83%</td></tr><tr><td>S&amp;P 500</td><td>-0.66%</td></tr><tr><td>Dow Jones</td><td>-0.53%</td></tr><tr><td>Russell 2000</td><td>-0.75%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose in premarket on Thursday. The SPY was up 0.29% to $568.76, and the QQQ advanced 0.40% to $482.80, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From The Last Session



Energy, technology, and consumer discretionary sectors led a broad rally on Wednesday, propelling the S&amp;P 500 index. This surge occurred alongside the Federal Reserve&#8217;s decision to maintain interest rates.



Despite projecting two 2025 rate cuts, the Fed&#8217;s dot plot now signals lower growth and higher inflation, sparking stagflation worries.



Notably, Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) rebounded 1.8% after its CEO&#8217;s address, and Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) soared nearly 7% on delivery and cash flow improvement plans. Meanwhile, mortgage applications declined, but all S&amp;P 500 sectors closed positively.



As of Wednesday, the Nasdaq 100 remains in correction territory, having fallen 11.19% from its prior peak. Similarly, the Dow Jones and S&amp;P 500 have dropped 6.70% and 7.68%, respectively, from their 52-week highs.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>1.41%</td><td>17,750.79</td></tr><tr><td>S&amp;P 500</td><td>1.08%</td><td>5,675.29</td></tr><tr><td>Dow Jones</td><td>0.92%</td><td>41,964.63</td></tr><tr><td>Russell 2000</td><td>1.57%</td><td>2,082.08</td></tr></tbody></table></figure>



Insights From Analysts



Market volatility, driven by tariff uncertainties and federal job cuts, has created a buying opportunity, according to Scott Wren, Senior Global Market Strategist. &#8220;The pullback in equities offers an opportunity,&#8221; he said.



Despite recent market pullbacks, Wren advises shifting from bonds to equities. He argues that while tariffs and job cuts introduce costs, their impact on the overall economy, particularly the likelihood of a recession, is minimal.



Tariffs, while causing localized price increases, won&#8217;t uniformly affect U.S. firms, and federal layoffs represent a small portion of the labor market, with historical data suggesting displaced workers find alternative employment. Wren also notes that tariff revenue and federal budget savings tend to be limited.



He added that strong labor market fundamentals and healthy household finances support continued consumer spending, mitigating recession risks. &#8220;We think the economy will grow a little more slowly than in 2024, but the consumer and the labor market look more like their averages of the past 15 years than a prelude to a recession,&#8221; he said.



Mohamed El-Erian, a prominent economist, criticized the Federal Reserve&#8217;s recent communication, citing their past error in labeling inflation as &#8220;transitory.&#8221; He believes the Fed should be more cautious, especially given their previous misjudgment and current economic uncertainties.



<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 word — "transitory" — is back at the Federal Reserve as Chair Powell characterizes the price effects of tariffs as a one-off. I would have thought that, particularly after the big policy mistake of earlier this decade and given all the current uncertainties, some Fed…&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1902435256927388049?ref_src=twsrc%5Etfw">March 19, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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



Upcoming Economic Data



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



<ul>
<li>The initial jobless claims data for the week ended March 15 and the Philadelphia Fed manufacturing survey data for March will be out by 8:30 a.m., ET.</li>
</ul>



<ul>
<li>February&#8217;s existing home sales and U.S. leading economic indicators data will be released by 10:00 a.m., ET.</li>
</ul>



Stocks In Focus:



<ul>
<li>Accenture Plc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) was down 0.30% in premarket on Thursday ahead of its earnings before the opening bell. Analysts expect earnings of $2.82 per share on revenue of $16.62 billion.</li>
</ul>



<ul>
<li>Jabil Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>) advanced 0.67% as Wall Street expects it to report earnings of $1.83 per share on the revenue of $6.41 billion before the opening bell.</li>
</ul>



<ul>
<li>Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) rose 0.73% ahead of its earnings after the closing bell. Analysts expect earnings of $1.42 per share on the revenue of $7.89 billion.</li>
</ul>



<ul>
<li>FedEx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) was above the flatline by 0.07% as Wall Street expects it to report earnings of $4.54 per share on the revenue of $21.89 billion after the closing bell.</li>
</ul>



<ul>
<li>Microchip Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>) dropped 2.29% after announcing an offering of $1.35 billion in depository shares.</li>
</ul>



<ul>
<li>OptiNose Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPTN#NASDAQ">OPTN</a>) was 60.83% higher after it canceled its earnings conference call following its acquisition agreement with Paratek Pharmaceuticals</li>
</ul>



<ul>
<li>AGM Group Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGMH#NASDAQ">AGMH</a>) surged 37.22% after it was given 180 by Nasdaq to get its stock price back up to $1.00 for maintaining compliance.</li>
</ul>



<ul>
<li>Virpax Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRPX#NASDAQ">VRPX</a>) plunged 12.84% after it announced that it will execute a 1-for-25 reverse stock split on March 20, 2025, with trading on a split-adjusted basis beginning March 21, 2025. This reduces outstanding shares and proportionally adjusts equity awards.</li>
</ul>



<ul>
<li>Zoomcar Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZCAR#NASDAQ">ZCAR</a>) slumped 28.45% after it said that it would implement a 1-for-20 reverse stock split on March 21, 2025, with adjusted trading beginning March 24, 2025. This aims to maintain Nasdaq compliance.</li>
</ul>



Commodities, Gold And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 0.67% to hover around $67.36 per barrel.



The gold spot index was down by 0.14% to $3,043.20 per ounce. Its last record high was at $3,057.36 per ounce. The Dollar Index was up by 0.32% at the 103.756 level.



Asian markets closed mixed on Thursday with China&#8217;s CSI 300, Hong Kong's Hang Seng, and Japan's Nikkei 225 index falling in trade. Whereas, India's S&amp;P BSE Sensex, South Korea's Kospi, and Australia's ASX 200 index advanced. European markets traded lower.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/03/44354638/mark-cuban-advises-genz-to-spend-every-waking-minute-learning-about-ai-amid-disruption-heres-a-list-of-ai-investm">Mark Cuban Advises GenZ To &#8216;Spend Every Waking Minute Learning About AI:&#8217; Here&#8217;s A List Of AI Investment Opportunities For Long Term</a></li>
</ul>



Photo courtesy: Shutterstock

Market Summary

Futures

Pre-Market Outlook

AGMH

MCHP

OPTN

VRPX

ZCAR

US Stocks Likely To Open Lower After Fed Decision: Any Pullback In Equities 'Offers An Opportunity,' Says Expert

&nbsp;Jamie Dimon, CEO of&nbsp;JPMorgan Chase &amp; Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), expressed his views on the current economic landscape, highlighting concerns over geopolitical tensions and potential tariff impacts.



What Happened: In a recent conversation with Abode (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) CEO Shantanu Narayen at Adobe&#8217;s annual summit, Dimon characterized the economy as being in a &#8220;soft landing&#8221; phase, "but there's a lot of turbulence out there." He underscored the uncertainty surrounding President Donald Trump&#8216;s proposed tax plan and the potential ramifications of tariffs on the global economy, <a href="https://fortune.com/2025/03/19/jamie-dimon-on-tariffs-geopolitics-and-the-misery-facing-the-bottom-20-of-u-s-earners/">reported</a> Fortune.



Geopolitical issues, especially the situations in Ukraine, Russia, and the Middle East, were also a point of concern for Dimon. He emphasized their impact on the future of free democratic societies.



On the topic of consumer spending in the U.S., Dimon noted a reduction in spending among lower-income individuals, while wealthier individuals remain significantly wealthier due to the rise in home&nbsp;and stock prices over the&nbsp;past two decades.



"The bottom 20% [of earners in the U.S.] didn't get a pay raise for 25 years; they're dying younger. Their schools aren't good and they live in crime-ridden neighborhoods,&#8221; stated Dimon as he expressed concern.



Addressing inflation, Dimon expressed optimism for its decrease. He acknowledged that the transition to a green economy and trade restructuring could lead to inflation, advising the audience to focus on long-term trends rather than the latest inflation reports.



SEE ALSO: <a href="https://www.benzinga.com/25/03/44410584/amid-bitcoins-decline-gold-backed-cryptos-have-returned-solid-gains-this-year">Bitcoin&#8217;s Recent Struggles Aside, Gold Hit A New All-Time High Shining A Bright Spotlight On These Precious Metal Cryptos That Rocked In 2025</a>



Why It Matters: Trump&#8217;s recent tariff announcements have received mixed reactions from leading economists. While, Lawrence H. Summers, former U.S. Treasury Secretary,<a href="https://editorial.benzinga.com/wp-admin/post.php?post=833010&amp;action=edit"> strongly criticized</a> recent tariff policies, cautioning against potential recession risks and adverse long-term effects.



However,&nbsp;Justin Wolfers, Senior Fellow at&nbsp;Brookings Institute,&nbsp;stated that a recession is ‘not inevitable,' while reasoning that Trump inherited a robust U.S. economy and has not been in office long enough to significantly alter it.



Dimon&#8217;s recent remarks at the Adobe summit provide further insight into his perspective on the broader economic landscape, highlighting potential challenges and uncertainties that could impact the global economy and consumer spending.



<ul>
<li>READ MORE: <a href="https://www.benzinga.com/25/03/44409322/masayoshi-sons-softbank-buys-oracle-backed-ampere-for-65-billion-to-power-us-ai-push">Masayoshi Son&#8217;s SoftBank Buys Oracle-Backed Ampere For $6.5 Billion To Boost US AI Push</a></li>
</ul>



Image via Shutterstock



Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

ADBE

Jamie Dimon Says 'There's A Lot Of Turbulence Out There' Amid Trump Tariffs, Inflation Woes And Geopolitical Risks

Leading cryptocurrencies ushered in a strong rally Wednesday after Ripple Labs' announced victory in the SEC lawsuit and dovish signals from Federal Reserve Chair Jerome Powell.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:45 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+3.53%</td><td>$86,130.95</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>+4.49%</td><td>$2,032.82</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>+4.38%</td><td>$0.1763</td></tr></tbody></table></figure>



What Happened: Bitcoin surged to a 10-day high of $87,443.27 late evening, before profit-taking pulled it back to the $86,000 region.



Ethereum reclaimed $2,000 after ten days, with the second-largest cryptocurrency soaring 4.5% over the previous day.



The bullish cryptocurrency-specific catalyst was Ripple CEO Brad Garlinghouse's <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44398151/ripple-ceo-announces-victory-as-sec-drops-appeal-in-xrp-lawsuit">announcement </a>that the SEC won't seek further appeals in the four-year-long legal case. The news also sent XRP, the coin at the center of the dispute, rallying nearly 10%.



The northward movement liquidated $355 million from the cryptocurrency market over the last 24 hours, with short positions accounting for $258 million.



The rally in spot prices also energized the derivatives market, with Open Interest for both Bitcoin and Ethereum contracts surging over 6%.



Interestingly, the majority of Bitcoin speculative traders were positioned short as of this writing, according to the Long/Short ratio.



The market turned "Neutral" after a prolonged stay in the "Fear" zone, according to the Crypto Fear and Greed Index.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:45 p.m. ET)</td></tr><tr><td>XRP (XRP)</td><td>+9.53%</td><td>$2.52</td></tr><tr><td>Bonk (BONK)</td><td>+9.33%</td><td>$0.00001201</td></tr><tr><td>Sonic (S)</td><td>+8.33%</td><td>$0.5423</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $2.84 trillion, expanding&nbsp; 4.17% in the last 24 hours.



Stocks rebounded Wednesday after dovish signals from the Fed. The Dow Jones Industrial Average surged 383.32 points, or 0.92%, to close at 41,964.63. The S&amp;P 500 rose 1.08%, ending at 5,675.29, while the tech-heavy Nasdaq Composite spiked 1.41% to close at 17,750.79.



On expected lines, the central bank <a href="https://in.benzinga.com/economics/macro-economic-events/25/03/44405112/tariff-inflation-may-be-transitory-powell-says-stocks-rally-bitcoin-clears-85000-as-bulls-return">kept the benchmark interest rates unchanged</a> at the current 4.25%-4.50% range, although it projected two rate cuts for the rest of the year.



Fed Chair Powell indicated that inflation driven by new trade tariffs might be "transitory," and that the recession risk remains "moderate" and "not high."



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



Analyst Notes: In a note to Benzinga, Chris Kline, COO and Co-Founder of BitcoinIRA, stated that the end of the XRP saga would "excite" the XRP community and boost adoption.



"I certainly know quite a few of our clients will be excited as it feels a lead weight has been lifted," Kline added.



Influential cryptocurrency analyst Ali Martinez said that while Ethereum may have breached the $2,000 resistance, $2,400 must be "conquered" for a bullish flip.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> smashed $2,000 today! But conquering the $2,400 zone is a must for a bullish flip. <a href="https://t.co/yzPHu0OoBf">pic.twitter.com/yzPHu0OoBf</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1902399416260284502?ref_src=twsrc%5Etfw">March 19, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo by Avi Rozen on Shutterstock



Read Next:    



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44395095/recession-would-be-a-big-catalyst-for-bitcoin-blackrocks-head-of-digital-assets-says">Recession Would Be &#8216;A Big Catalyst For Bitcoin,&#8217; BlackRock&#8217;s Head Of Digital Assets Says</a></li>
</ul>

$DOGE

$ETH

Bitcoin, Ethereum, Dogecoin Rally On Jerome Powell's Dovish Signals: Analyst Says 'Lead Weight Has Been Lifted' As Ripple-SEC Case Concludes

On Wednesday, SoftBank Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) announced that it has <a href="https://www.benzinga.com/markets/equities/25/01/42890464/softbank-owned-arm-eyes-acquisition-of-oracle-backed-chip-designer-ampere-computing-amid-nvidias-dominance-report">acquired</a> Ampere Computing in a $6.5 billion deal, with the transaction expected to close in the second half of 2025.



What Happened: Ampere, backed by Oracle Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) and Carlyle Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CG#NASDAQ">CG</a>), designs high-performance server chips based on Arm Holdings PLC – ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) architecture.



Both Oracle and Carlyle will sell their stakes as part of the transaction.



Founded in 2017 by Renee James, a former Intel Corp president, Ampere will operate as an independent subsidiary of SoftBank and retain its headquarters in Santa Clara, California.



The company currently employs around 1,000 semiconductor engineers.



See Also:&nbsp;<a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42888800/goldman-sachs-flags-market-correction-risk-as-inflation-trump-policies-stir-uncertainty" target="_blank" rel="noreferrer noopener">Goldman Sachs Flags Market Correction Risk As Inflation, Trump Policies Stir Uncertainty</a>



Why It's Important: The acquisition signals SoftBank's aggressive pivot toward AI infrastructure, <a href="https://in.benzinga.com/media/25/01/43374528/softbank-may-lead-openais-40-billion-funding-round-at-a-300-billion-valuation-despite-deepseek-disruption-report">following its partnership</a> with OpenAI and involvement in the Donald Trump-backed $500 billion Stargate initiative.



The move also bolsters SoftBank's Arm ecosystem, following its $32 billion acquisition of Arm in 2016 and Arm's 2023 IPO.



SoftBank also plans to build a <a href="https://in.benzinga.com/media/25/03/44327422/softbank-to-build-676-million-ai-data-center-in-japan-linked-to-openai-partnership">$676 million AI data center</a> in Japan. This facility is expected to support large-scale AI projects, further enhancing SoftBank&#8217;s AI ecosystem.



Earlier this week, the company also unveiled a <a href="https://www.benzinga.com/tech/25/03/44398359/softbank-unveils-ai-model-to-streamline-telecom-operations">new AI model</a> designed to optimize telecom operations.



Photo by NP27 on Shutterstock.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/01/42890014/jim-cramer-warns-on-quantum-stories-as-stocks-plunge-we-need-you-out-before-the-froth-goes-away" target="_blank" rel="noreferrer noopener">Jim Cramer Warns On ‘Quantum Stories' As Stocks Plunge: ‘We Need You Out Before The Froth Goes Away'</a></li>
</ul>



Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

ORCL

SFTBF

SFTBY

Masayoshi Son's SoftBank Buys Oracle-Backed Ampere For $6.5 Billion To Boost US AI Push

The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index remained in the &#8220;Extreme Fear&#8221; zone on Wednesday.



U.S. stocks settled higher on Wednesday, with the S&amp;P 500 surging more than 1% during the session. The Federal Reserve maintained the federal funds rate unchanged at a range of 4.25% to 4.5%, with Chairman Jerome Powell reviving the term "transitory" to describe the potential inflationary effects of new tariffs.



While the Fed still projects two rate cuts in 2025 in its latest dot plot, projections now reflect lower growth and higher inflation, fueling renewed concerns about stagflation.



Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) rose 1.8%, snapping a two-day losing streak, following CEO Jensen Huang&#8217;s keynote speech the previous day. The Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) surged around 7% after CFO Brian West outlined plans to boost aircraft deliveries and reduce first-quarter cash outflows, supported by improved factory efficiency and inventory reductions.



On the economic data front, U.S. mortgage applications declined by&nbsp;6.2%&nbsp;in the second week of March, following a cumulative&nbsp;37%&nbsp;increase from the two prior weeks.



All sectors on the S&amp;P 500 closed on a positive note, with energy, information technology, and consumer discretionary stocks recording the biggest gains on Wednesday.



The Dow Jones closed higher by around 383 points to 41,964.63 on Wednesday. The S&amp;P 500 rose 1.08% to 5,675.29, while the Nasdaq Composite climbed 1.41% at 17,750.79 during Wednesday's session.



Investors are awaiting earnings results from Accenture plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>), Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), and FedEx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 22.4, the index remained in the &#8220;Extreme Fear&#8221; zone on Wednesday, versus a prior reading of 20.2.



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



Read This Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/25/03/44396642/jim-cramer-says-tjx-is-terrific-recommends-buying-these-stocks">Jim Cramer Says TJX Is &#8216;Terrific,&#8217; Recommends Buying These Stocks</a></li>
</ul>



Photo courtesy: Shutterstock

S&P 500 Surges Over 1% Following Fed Decision: Investor Fear Eases, Greed Index Remains In 'Extreme Fear' Zone

On Wednesday, Cathie Wood-led Ark Invest made notable trades, including the sale of shares in Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>). This move comes as Meta&#8217;s AI model, Llama, reached a significant milestone of 1 billion downloads, while the company faces ongoing privacy scrutiny.



The Meta Trade: Ark Invest&#8217;s ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) sold 7,361 shares of the Mark Zuckerberg-led company. The sale was valued at approximately $4.3 million, based on Meta&#8217;s closing price of $584.06. This decision follows a <a href="https://www.benzinga.com/25/03/44368691/cathie-wood-dumps-over-7-million-worth-of-meta-shares-as-mark-zuckerbergs-social-empire-faces-privacy-heat-ark-sells-block-shares-again">previous sale</a> of over $7 million worth of Meta shares on Monday as the company deals with privacy challenges and global expansion efforts. Notably, Ark also <a href="https://in.benzinga.com/25/03/44389960/cathie-woods-big-tuesday-bet-ark-pours-7-8-million-into-tempus-ai-despite-stock-stumble">offloaded $1.26 million</a> worth of Meta shares on Wednesday.



Despite these issues, Meta has relatively fared well in 2025, benefiting from lower leverage compared to other tech giants. Recently, Meta&#8217;s AI model, Llama, achieved a milestone of 1 billion downloads, as announced by Zuckerberg.



Other Key Trades:



<ul>
<li>Sold 850,762 shares of UiPath Inc. from ARKK and 14,822 shares from ARKF.</li>



<li>Sold 65,855 shares of Illumina Inc. from ARKK and 20,529 shares from ARKG.</li>



<li>Bought 140,089 shares of Iridium Communications Inc for ARKK, 14,875 shares for ARKQ, and 9,517 shares for ARKX.</li>



<li>Bought 20,201 shares of CRISPR Therapeutics AG for ARKK and 13,726 shares for ARKG.</li>



<li>Bought 68,441 shares of Intellia Therapeutics Inc. for ARKK and 27,938 shares for ARKG.</li>
</ul>



Image via Shutterstock



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/trading-ideas/movers/25/03/44398390/trump-media-launches-truth-on-roku-calling-it-the-singular-option-for-non-woke-tv">Trump Media Launches Truth+ On Roku, Calling It &#8216;The Singular Option For Non-Woke TV&#8217;</a></li>
</ul>



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

ARKK

Cathie Wood Offloads Meta Stock While Mark Zuckerberg Celebrates Llama AI Success

The Federal Reserve left interest rates unchanged at 4.25%-4.50% on Wednesday, with Chairman Jerome Powell reviving the term &#8220;transitory&#8221; to describe the potential inflationary <a href="https://www.benzinga.com/topic/tariffs">effects of new tariffs.</a>



While the Fed still projects two rate cuts in 2025 in its latest dot plot, projections now reflect lower growth and higher inflation, fueling renewed concerns about stagflation.



Economists are increasingly skeptical of the Fed's confidence in inflation easing, with some warning of policy missteps and rising recession risks.



Here's a summary of key reactions from leading economists.



<h3 class="wp-block-heading">‘Transitory' Is Back: A Risky Assumption</h3>



Allianz chief economic adviser Mohamed El-Erian criticized Powell's use of &#8220;transitory&#8221; to describe tariff-driven inflation, recalling the Fed's 2022 mistake when it downplayed persistent price pressures.



&#8220;It's simply too early to say with any degree of confidence that the inflationary effects will be transitory,&#8221; El-Erian said, adding that businesses and households &#8220;still have fresh in their minds the recent history of high unanticipated inflation.&#8221;



Given the uncertainties, he expected Fed officials to show &#8220;greater humility.&#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">The word — "transitory" — is back at the Federal Reserve as Chair Powell characterizes the price effects of tariffs as a one-off. I would have thought that, particularly after the big policy mistake of earlier this decade and given all the current uncertainties, some Fed…&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1902435256927388049?ref_src=twsrc%5Etfw">March 19, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The Kobeissi Letter ridiculed Powell's response to stagflation concerns, recalling a past press conference where he dismissed the risk, saying he wasn't seeing the &#8220;stag&#8221; or the &#8220;flation.&#8221; Yet, that stance now appears contradictory, as the Fed's latest projections show slower GDP growth alongside rising inflation and unemployment.



&#8220;We are now seeing the &#8216;stag&#8217; and the &#8216;flation&#8217;.&#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">This clip is from almost exactly 11 months ago: Fed Chair Powell was asked about stagflation and he said he&#39;s not seeing the &quot;stag&quot; or the &quot;flation.&quot; Today, the Fed raised both unemployment and inflation forecasts for 2025, while cutting GDP growth estimates. We are now seeing… <a href="https://t.co/w5c35jnIWa">pic.twitter.com/w5c35jnIWa</a>&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1902423342709412138?ref_src=twsrc%5Etfw">March 19, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h3 class="wp-block-heading">Mixed Signals On Inflation And Growth</h3>



Jeffrey Roach, chief economist at LPL Financial, said the Fed&#8217;s decision was unsurprising, as policymakers are &#8220;in the midst of policy fog&#8221; while awaiting the impact of upcoming tariffs. 



He highlighted that despite upside risks in recent inflation data, core inflation should decelerate by summer, allowing the Fed to begin cutting rates in June.



Steve Wyett, chief investment strategist at BOK Financial, stressed the uncertainty arising from the Fed&#8217;s forecasts.



&#8220;The Fed remains as confused as the rest of us as to what the impact of policy changes will be,&#8221; he said. 



Charlie Ripley, senior investment strategist at Allianz Investment Management, highlighted the Fed's struggle to balance growth and inflation expectations.



&#8220;Growth appeared to be downgraded more than the uptick of inflation expectations, yet the pace of expected rate cuts remained the same,&#8221; he said, pointing to continued uncertainty around inflation. Yet, the Fed's decision to slow the run-off of its balance sheet in April provided &#8220;some consolation&#8221; for investors.



<h3 class="wp-block-heading">Recession Warnings Grow Louder</h3>



David Rosenberg, president of Rosenberg Research &amp; Associates Inc., indicates the Fed's updated unemployment forecast is a strong recession indicator. He noted that the Fed now sees unemployment rising to 4.4% by year-end, which historically signals an economic downturn.



&#8220;Back to 1948, that has never happened without an NBER-defined recession,&#8221; Rosenberg said, referring to the National Bureau of Economic Research, which officially declares U.S. recessions. 



He warned that if past trends hold, a recession could materialize as early as July, well before the Fed takes any significant action.



<h3 class="wp-block-heading">Is Powell Too Dovish?</h3>



Spencer Hakimian, founder of Tolou Capital Management, described Powell as &#8220;very dovish,&#8221; suggesting the Fed is either underestimating inflation risks or &#8220;hoping for a miracle.&#8221;



&#8220;They see higher inflation. But they&#8217;re projecting two more rate cuts,&#8221; he said, calling the approach a &#8220;heads I win, tails you lose&#8221; scenario. Despite his concerns, Hakimian remains bullish on risk assets, advising investors to stay &#8220;long a good amount of risk,&#8221; with 40-50% exposure.



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



Despite concerns from economists, Powell's remarks fueled a risk-on rally. 



The S&amp;P 500 index – as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) – closed 1.1% higher on Wednesday, while the tech-heavy Nasdaq 100 jumped 1.4%. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) surged past $85,000, and gold extended record highs, rising 0.5% to $3,050 per ounce.



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Economists React To Powell: 'We Are Now Seeing The Stag And The Flation'

Federal Reserve Chairman Jerome Powell indicated that inflation driven by new trade tariffs might be &#8220;transitory,&#8221; evoking comparisons to the Fed's 2022 misstep when it wrongly classified inflation as a <a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44403637/fed-holds-rates-while-growth-forecasts-slip-inflation-projections-rise">short-lived phenomenon.</a>



Speaking Wednesday following the Federal Open Market Committee's decision to hold rates at 4.25%-4.50%, Powell said the Fed is not in hurry to adjust interest rates and policymakers can &#8220;wait for clarity&#8221; before making moves.



<h3 class="wp-block-heading">How Much Of Inflation Is Due to Tariffs?</h3>



The Fed's updated macroeconomic projections show a slowing economy and stubbornly high inflation, raising concerns about stagflation. Growth forecasts for 2025 were revised downward, with real GDP now expected to expand 1.7%, down from December's 2.1% estimate. 



The Fed's preferred measure, the Personal Consumption Expenditures price index, is now expected to hit 2.7% in 2025, up from 2.5%. Core PCE, which strips out food and energy costs, was revised from 2.5% to 2.8% for 2025.



Powell admitted it is &#8220;very challenging&#8221; to isolate tariff-driven inflation from broader price pressures. 



&#8220;Some of it—a good part of it—is coming from tariffs,&#8221; he said. The difficulty lies in tracking which price increases are directly tied to tariffs and which are due to other economic factors.



Tariff-related inflation could be &#8220;transitory&#8221;, Powell said, depending on how quickly it moves through the economy. If inflation expectations remain anchored and the effects fade, the Fed may opt to look past these price increases.



Yet, some of its effects are already visible.



&#8220;We have had two very strong goods inflation readings in the last two months, which is very unexpected,&#8221; Powell said, suggesting that businesses may be preemptively raising prices in anticipation of tariffs. 



A similar dynamic occurred when washing machines were tariffed in 2018—prices on both washers and dryers jumped, even though only one was subject to tariffs.



The Fed is also factoring in potential retaliatory tariffs from other countries. Staff forecasts assume &#8220;full retaliation,&#8221; though the exact economic impact remains uncertain. 



Powell indicated that &#8220;when we actually know the specifics, we will be able to have a better-informed forecast.&#8221;



<h3 class="wp-block-heading">Powell Dismisses UMich Consumer Inflation Worries, Downplays Recession Fears</h3>



Recent surveys, including the University of Michigan Consumer Sentiment Index, indicate rising uncertainty among households and businesses, with inflation expectations soaring sharply as economic players anticipate tariffs. 



Powell downplayed the University of Michigan report, calling it an &#8220;outlier&#8221; compared to other measures of long-term inflation expectations.



Despite rising inflation expectations, the Fed is still projecting two rate cuts in 2025. Powell said weaker growth and higher inflation are &#8220;balancing each other out,&#8221; leading policymakers to maintain their current stance.



&#8220;We think our policy is in a good place,&#8221; Powell said. 



Powell said that while some forecasters have slightly raised the probability of a recession, the risk remains &#8220;moderate&#8221; and &#8220;not high.&#8221; He noted that while survey data from businesses and households show increased uncertainty, the hard economic data—such as GDP growth and employment—remains solid.



<h3 class="wp-block-heading">Market Reactions: Stocks Rally, Bitcoin Tops $85,000</h3>



Risk sentiment rippled through risky assets after Powell&#8217;s remarks on Wednesday.



The S&amp;P 500 – as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) – rallied 1.4% going into the closing bell, while the tech-heavy Nasdaq 100, tracked by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), soared 1.8%. 



Small caps outperformed large-cap counterparts, with the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) up 2%. 



Short-dated Treasury yields fell by 5 basis points to below 4% and the U.S. dollar index (DXY) trimmed session gains to 0.3%. Gold rose 0.5% to nearly $3,050 per ounce, further extending record highs. 



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) soared 3.3% to above $85,000, hitting a 10-session high.



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Photo courtesy of the Federal Reserve.

Tariff Inflation May Be 'Transitory,' Powell Says: Stocks Rally, Bitcoin Clears $85,000 As Bulls Return

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