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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



Read Next: 



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<li><a href="https://www.benzinga.com/news/econ-s/25/01/43348204/gold-hits-record-high-as-central-banks-ease-stance-5-mining-stocks-rally">Gold Hits Record High As Central Banks Ease Stance: 5 Mining Stocks Rally</a></li>
</ul>

Macro Economic Events

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Markets

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

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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



Read Next:



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



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

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



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



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



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



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



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



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



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



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



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



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



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



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



Read Next:



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



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



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

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



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



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



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



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



In premarket trading on Friday, both the SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and the Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) were higher. SPY was up 0.42% at $607.59, and QQQ gained 0.80% to reach $527.22, based on <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From The Last Session



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



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



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



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



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



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>0.25%</td><td>19,681.75</td></tr><tr><td>S&amp;P 500</td><td>0.53%</td><td>6,071.17</td></tr><tr><td>Dow Jones</td><td>0.38%</td><td>44,882.13</td></tr><tr><td>Russell 2000</td><td>1.07%</td><td>2,307.45</td></tr></tbody></table></figure>



Insights From Analysts



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



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



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



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



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



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



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



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



Upcoming Economic Data



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



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



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



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



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



Stocks In Focus:



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



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



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



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



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



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



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



Commodities, Gold And Global Equity Markets:



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



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



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



Read Next:



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<li><a href="https://www.benzinga.com/25/01/43376448/elon-musks-x-money-to-see-about-600-million-active-monthly-users-via-visa-direct-integration">Elon Musk&#8217;s &#8216;X Money&#8217; To See About 600 Million Active Monthly Users Via Visa Direct Integration: &#8216;Excited To Partner,&#8217; Says CEO</a></li>
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US Stock Futures Climb After Apple Beats Q1 Expectations: Expert Says Tech Stocks Hold Above Key Level Despite DeepSeek Impact

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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



Image via Shutterstock



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



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

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

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



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



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



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



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



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



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



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



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



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



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



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



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



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">You have the relationship backwards. The BRICS nations are the suckers for accepting our fiat currency for their real consumer goods. We get actual products that make our lives better, that we lack the capacity to produce ourselves. All they get in return is our inflation.&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1864269213696708985?ref_src=twsrc%5Etfw">December 4, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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



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</ul>



Photo by lucky_xtian on Shutterstock

Cryptocurrency

Macro Notification

Social Media

Politics

Global

$BTC

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

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



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 7:45 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+0.03%</td><td>$104,582.18</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+3.95%</td><td>$3,267.77</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+0.05%</td><td>$0.3308</td></tr></tbody></table></figure>



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



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



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



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



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



"Extreme Greed" emotion dominated the market, according to the reading on the Crypto Fear &amp; Greed Index, sparking concerns of a further correction.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 7:45 p.m. ET)</td></tr><tr><td>DeXe (DEXE)</td><td>+30.15%</td><td>$20.80</td></tr><tr><td>JasmyCoin (JASMY)</td><td>+29.66%</td><td>$0.03193</td></tr><tr><td>Arweave (AR)</td><td>+27.44%</td><td>$16.46</td></tr></tbody></table></figure>



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



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



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



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



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



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



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



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">With a significant amount of <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> accumulated at $97,877, this level holds critical importance. If it holds, the bull run could continue. However, a break below $97,877 and $91,700 could put the entire bull market in jeopardy.<a href="https://t.co/adz1GAiTFL">https://t.co/adz1GAiTFL</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1884901807228436492?ref_src=twsrc%5Etfw">January 30, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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



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



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



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I don&#39;t think we&#39;ll have many 30% corrections on <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> during this cycle. The markets become larger, through which a lot more liquidity is added and Bitcoin becomes more &#39;boring&#39;. Just a gradual upwards pace. Either Bitcoin peaks in Q4 2025 or somewhere beginning 2027.&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1885005301436531134?ref_src=twsrc%5Etfw">January 30, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo by Avi Rozen on Shutterstock



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<li><a href="https://www.benzinga.com/markets/cryptocurrency/23/06/32811591/winklevoss-twins-say-elizabeth-warren-and-gary-genslers-war-on-crypto-will-cost-democrats-">Winklevoss Twins Say Elizabeth Warren And Gary Gensler&#8217;s War On Crypto &#8216;Will Cost Democrats 2024 Election&#8217;</a></li>
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Trading Ideas

$DOGE

$ETH

TSLA

Bitcoin, Dogecoin Trade Flat, Ethereum Rises Ahead Of Fed's Preferred Inflation Gauge Release: Will Bitcoin Peak In Early 2027?

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



The Palantir Trade



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



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



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



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



Other Key Trades:



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



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



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



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



Photo courtesy: Shutterstock



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



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

ACHR

ARKK

PLTR

QCOM

RBLX

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

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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="&#x1f534; WATCH LIVE: Apple Q1 2025 Earnings Call &#x7C; $AAPL" width="500" height="281" src="https://www.youtube.com/embed/DCP8UZ6Cfp0?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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<li><a href="https://www.benzinga.com/trading-ideas/movers/25/01/43348950/wall-street-remains-flat-microsoft-eyes-heaviest-drop-since-late-2022-gold-sets-fresh-records">Wall Street Remains Flat, Microsoft Eyes Heaviest Drop Since Late 2022, Gold Sets Fresh Records: What&#8217;s Driving Markets Thursday?</a></li>
</ul>



Photo: Courtesy of Apple.

After-Hours Center

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

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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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<li><a href="https://www.benzinga.com/news/econ-s/25/01/43348204/gold-hits-record-high-as-central-banks-ease-stance-5-mining-stocks-rally">Gold Hits Record High As Central Banks Ease Stance: 5 Mining Stocks Rally</a></li>
</ul>



The Ambassador Bridge between Detroit, Michigan and Windsor, Ontario. Photo via Shutterstock.

Commodities

Currency ETFs

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

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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



Read Next: 



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



Image: Shutterstock

Legal

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

Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) analysts balance the positives and negatives of Azure&#8217;s weakness and strength in AI from the company&#8217;s<a href="https://www.benzinga.com/news/earnings/25/01/43320124/microsoft-shares-slide-after-q2-results-cloud-revenue-misses-expectations-details"> quarterly financial results. </a>



The Microsoft Analysts: 



<ul>
<li>Morgan Stanley analyst Keith Weiss maintained an Overweight rating on Microsoft and lowered the price target from $540 to $530.</li>



<li>Bank of America analyst Brad Sills reiterated a Buy rating with a $510 price target.</li>



<li>DA Davidson analyst Gil Luria maintained a Neutral rating with a $425 price target.</li>



<li>Raymond James analyst Andrew Marok reiterated an Outperform rating with a $480 price target.</li>



<li>RBC Capital analyst Rishi Jaluria maintained an Outperform rating with a $500 price target.</li>



<li>JPMorgan analyst Mark Murphy maintained an Overweight rating with a $465 price target.</li>



<li>Truist analyst Joel Fishbein reiterated a Buy rating with a $600 price target.</li>



<li>Piper Sandler analyst Brent Bracelin maintained an Overweight rating with a $520 price target.</li>



<li>Goldman Sachs analyst Kash Rangan maintained a Buy rating with a $500 price target.</li>
</ul>



Read Also: <a href="https://www.benzinga.com/markets/equities/25/01/43327008/microsofts-13-billion-run-rate-and-openai-azure-deal-spark-surge-in-enterprise-demand-for-ai-solutions-just-first-tranche-of-future-growth-potential">Microsoft&#8217;s $13 Billion Run Rate And OpenAI Azure Deal Spark Surge In Enterprise Demand For AI Solutions: Just &#8216;First Tranche&#8217; Of Future Growth Potential</a>



Morgan Stanley on MSFT: Microsoft is "working to find the right balance," Weiss said in a new investor note.



"While Azure was disappointing, strength in the GenAI ramp vs moderating capex growth should support accelerating FY26 FCF growth," Weiss said.



The analyst said commercial bookings growth was ahead of expectations, helping offset Azure weakness.



Microsoft showed evidence of Azure product cycles and M365 copilot product cycles performing and driving better growth, Weiss added.



"We believe MSFT represents an attractive risk/reward for a leading secular growth franchise."



Bank of America on MSFT: Sills called the Microsoft quarterly results mixed with strong AI and cloud demand alongside the "rare execution challenges" for Azure.



"No change to view that Microsoft represents an AI winner in both apps and infrastructure."



The analyst said the Azure issues are fixable, but growth could continue to be impacted in the coming quarters.



DA Davidson on MSFT: Luria said Microsoft reported stable performances across all three business segments in a new investor note.



"While demand for its AI services remain heightened, core Azure services continue to decelerate, which is leading management to pull its previous guidance of a second half reacceleration of Azure revenue," Luria said.



The analyst said Microsoft is guiding towards flat capex, which means it is "still planning more capex for less growth."



Raymond James on MSFT: The quarter had a solid contribution from AI while the timeline for Azure to reaccelerate has been extended, Marok said in a new investor note.



"Overall, this quarter will go down as a disappointment, not due to any revisions on the scale of the AI opportunity but more due to the timing of capitalization on these trends," Marok said.



The analyst said the positives in the quarter were M365 commercial cloud growth, AI contribution commentary, search and advertising growth, the margin outlook and a solid quarter for gaming content and services.



RBC Capital on MSFT: Jaluria highlighted the weakness of Azure in a new investor note, but sees positives from Microsoft in other areas. &nbsp;



"Revenue was decent outside of Azure, but F3Q revenue was guided below consensus and EPS came in ahead," Jaluria said.



The analyst said Azure AI results were also strong and exceeded expectations.



"We see an upward revision path for estimates, and would be buyers of weakness."



JPMorgan on MSFT: Azure weakness overshadowed a commercial bookings boom in the quarter, Murphy said in a new investor note.



The analyst said the commercial bookings is likely attributable to OpenAI.



"This, in turn, should help to assuage recent investor concerns relating to the Stargate project and whether Microsoft's relationship with OpenAI might have changed adversely," Murphy said.



Murphy said the AI portion of Azure is "quite healthy."



Truist on MSFT: Fishbein said Microsoft's quarter saw Azure as a disappointment while artificial intelligence shined through in a new investor note.



"There were significant bright spots in their AI strategies gaining traction underscored by the announcement that their AI business now exceeds $13B," Fishbein said.



The analyst said the positive momentum of AI could "lead to a reacceleration" for Microsoft revenue.



Piper Sandler on MSFT: Bracelin said the Azure results overshadow the potential AI upside from the quarter.



"There are few $160B+ run-rate business models (Microsoft Cloud + AI) growing 20%+ y/y capable of sustaining a high-margin operating model in excess of 40%+," Bracelin said.



The analyst said investors are focusing too much on Azure and should focus on the big price and "add to positions on weakness."



"The big picture takeaway for us was that MSFT is at the steepest part of the AI investment cycle yet operating margins were guided up y/y and EPS remain poised for double-digit growth."



Goldman Sachs on MSFT: Concerns on Azure growth "remain significant for investors," Rangan said in a new investor note.



The analyst said Azure uncertainty could be overshadowing improvements in Capex and earnings per share guidance.



"As Microsoft continues to bring capacity online, prioritizes AI opportunities, and improves execution around Azure more broadly, there remains a possibility that Azure growth could re-accelerate F4Q25," Rangan said.



Rangan said Microsoft is well positioned to capitalize on several secular trends like GenAI, cloud consumption, SaaS and digital transformation with its strong presence in place.



"We believe Microsoft is one of the most compelling investment opportunities in the technology industry and across sectors."



MSFT Price Action: Microsoft stock is down 6% to $415.72 on Thursday versus a 52-week trading range of $385.58 to $468.35. Microsoft stock is up 1.5% over the last year.



Read Next: 



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



Photo: Mamun_Sheikh/Shutterstock.com

Price Target

Reiteration

Microsoft Analysts Weigh Azure Weakness Against AI Strength: 'Most Compelling Investment Opportunities'

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) analysts highlighted a confirmation of the low-cost vehicle in 2025, unsupervised FSD and updates on Optimus Bot as the key takeaways from the company's <a href="https://www.benzinga.com/news/earnings/25/01/43321103/tesla-q4-earnings-highlights-revenue-miss-eps-miss-ev-updates-automaker-says-2025-will-be-a-seminal-year">fourth-quarter financial results.</a>



The Tesla Analysts: Bank of America analyst John Murphy reiterated a Neutral rating on Tesla with a $490 price target.



Goldman Sachs analyst Mark Delaney maintained a Neutral rating with a $345 price target.



Needham analyst Chris Pierce reiterated a Hold rating with no price target.



RBC Capital analyst Tom Narayan maintained an Outperform rating with a $440 price target.



Cantor Fitzgerald analyst Andres Sheppard maintained a Neutral rating and raised the price target from $365 to $425.



Piper Sandler analyst Alexander Potter maintained an Overweight rating with a $500 price target.



Stifel analyst Stephen Gengaro reiterated a Buy rating with a $492 price target.



Morgan Stanley analyst Adam Jonas maintained an Overweight rating with a $430 price target.



Read Also: <a href="https://www.benzinga.com/news/global/25/01/43251316/tesla-faces-boycott-call-in-poland-over-musks-wwii-comments">Tesla Faces Boycott Call In Poland Over Musk&#8217;s WWII Comments: &#8216;No Normal Pole Should Buy&#8217;</a>



Bank of America on TSLA: A mark-to-market benefit on the company's Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) investment helped cushion the company's gross margins, Murphy said in a new investment note.



"Excluding this gain, 4Q:24 results were materially weaker than our forecast," Murphy said.



The analyst said the new product launches being on-track and the robotaxi are positives, while concerns about volume, lower pricing, tariffs and the "Optimus distraction" are headwinds for the company.



"1Q:25 results will be adversely impacted by several weeks of lost Model Y production as TSLA shifting all of its factories to the new Model Y. This will weigh on revenues and gross margin. We roughly estimate TSLA will lose 100k vehicles of production from this changeover."



Goldman Sachs on TSLA: After reporting profitability below consensus estimates, Delaney said margins and FSD progress will likely be the key debates.



The analyst said strong energy profits and the non-cash gains on Bitcoin, estimated at 17 cents per share, weren't enough to offset weakness on gross margins.



"The automotive non-GAAP gross margin excluding regulatory credits declined to 13.6% in 4Q24 from 17.1% in 3Q24, below our 15.0% estimate and StreetAccounts consensus at ~16%," Delaney said.



The analyst said the quarterly results had something for bulls and bears. The negatives were profitability, earnings per share weakness, margins and the downtime for the Model Y transition.



"Positively, Tesla continue to expect to introduce a new lower cost model with production planned to start later in 1H25, and Tesla commented that it expects to start a robotaxi operation in Austin this June."



Delaney said FSD v13 is "very good," but Tesla needs to show more progress for it to become an eyes-off product.



"While we continue to see Tesla as a leader in autonomous technology, our base case remains that it will take the company longer to reach its AV goals than it targets."



Needham on TSLA: Telsa could struggle to match supply and demand, Pierce said in a new investor note.



The analyst said Tesla is playing catch-up in autonomous driving until it can unlock the full fleet of vehicles currently on the road.



Pierce said autonomous and robotics are "shouldering an even heavier load" for Tesla's growth story. Tesla's comments on Optimus Bot production levels were likely well received by bulls, Pierce said.



"ASPs are still fuzzy, and production cadence slippage wouldn't be overly surprising, but we expect bulls to welcome any TSLA Robotics disclosures," Pierce said.



The analyst said Tesla's confirmation of a low-priced vehicle could expand the company's total addressable market.



"Between this potential vehicle and the updated Model Y we see the potential for TSLA to refresh their vehicle lineup for the first time in years."



RBC Capital on TSLA: News on a low-cost vehicle, FSD, robotaxi and Optimus show that the "moonshots getting real," Narayan said in a new investor note.



The analyst said confirmation of the low-cost vehicle could be one of the most important items from the earnings report.



"We think some investors thought this would be withdrawn," Narayan said.



The analyst forecasts 2025 delivery growth of 14% helped by the affordable vehicle models set to be introduced.



Cantor Fitzgerald on TSLA: Tesla's announcement on unsupervised FSD, Optimus Bot and the confirmation of the lower-cost model in 2025 see Sheppard updating estimates and raising the price target in a new note.



"We are increasing our PT to $425 as we incorporate revenues from Unsupervised FSD starting in 2H25, and from Optimus starting 2H26, to our model, driven by higher energy generation and storage revenue estimates in FY25 and FY26," Sheppard said.



With the price target increase, Sheppard said there are key risks for Tesla remaining. Risks include Chinese automotive competition, regulatory approval for FSD and robotaxi, the removal of the EV tax credit and a slowdown in EV demand.



Piper Sandler on TSLA: Gross margins and lower average selling prices were misses in Tesla's fourth quarter, Potter said in a new investor note.



"Q4 results weren't great, but who cares? Elon has never sounded so bullish," Potter said of Tesla CEO Elon Musk.



The analyst said Tesla committed to new products and vehicle growth in 2025, along with bullish commentary on FSD software.



"It's true, Elon Musk's predictions re: FSD timing have been historically inaccurate…but to us, this time it feels different; peers (and investors) should not dismiss this."



Potter said solving FSD could be the first step of "commercializing real-world AI," which would open up new valuation scenarios for Tesla.



Stifel on TSLA: Fourth-quarter results are neutral for Tesla stock, Gengaro said in a new note.



The analyst said negatives in the report were revenue, gross margins and profit per vehicle sold. The positives were lower cost of goods per vehicle, strong 2025 expectations for vehicle growth, strong guidance for energy storage and progress on FSD/robotaxi.



"We reiterate our belief that TSLA remains very well positioned, and FSD and Robotaxi will be critical value drivers," Gengaro said.



Gengaro said FSD and robotaxi initiatives are "critical to the story."



The analyst said the removal of the $7,500 tax credit will hurt Tesla margins, but be a "bigger problem" for Tesla's competition.



"We believe that CEO Elon Musk's support for the President and involvement in the administration likely creates and easier path to FSD and Robotaxi."



Morgan Stanley on TSLA: A vague outlook and a miss on weaker prices have Jonas asking if Tesla is a car company with shares trading higher after the earnings report.



"4Q results were mostly disappointing, but not particularly narrative changing," Jonas said.



While Tesla said it expected a "return to growth" for vehicle delivery in 2025, Jonas said there was not a mention of Musk's previous guidance of 20% to 30% volume growth.



"Tesla's 4Q results are emblematic of a company in the transition from an automotive ‘pure play' to a highly diversified play on AI and robotics."



TSLA Price Action: Tesla stock is up 3.56% to $402.91 Thursday at publication versus a 52-week trading range of $138.80 to $488.54.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/tech/25/01/43327268/tesla-expects-50-surge-in-energy-storage-deployments-for-2025-after-segment-revenue-doubles-in-q4">Tesla Expects 50% Surge In Energy Storage Deployments For 2025 After Segment Revenue Doubles In Q4</a></li>
</ul>



Photo: Shutterstock

Tesla Analysts Highlight FSD, Robotaxis, New Vehicles For Growth: 'Elon Has Never Sounded So Bullish'

The parents of former <a href="https://www.benzinga.com/news/24/10/41141962/remember-sbfs-i-didnt-stash-billions-away-the-latest-ftx-repayment-update-may-have-other-ideas">FTX CEO Sam Bankman-Fried</a> are pursuing a presidential pardon for their son from Donald Trump, according to a report.



What Happened: Joseph Bankman and Barbara Fried, both Stanford Law professors, have been in discussions with legal experts and individuals within Trump's network regarding possible clemency for their 32-year-old son, who was sentenced to 25 years in prison for fraud, Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-01-30/sam-bankman-fried-s-parents-explore-seeking-trump-pardon-for-son">reported</a>.



It remains unclear whether any direct outreach has been made to the White House.



Neither Bankman-Fried's parents nor his legal representatives have commented on these efforts, and the White House has yet to issue any statement on the matter.



Since taking office, Trump has exercised his pardon power extensively, prompting a surge in requests from individuals convicted of financial crimes. 



One of his most notable acts was <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43183294/trump-a-man-of-his-word-says-ross-ulbricht-after-pardon-silk-road-creators-lots-to-talk-about-remark-fuels-curiosity">granting clemency to Ross Ulbricht,</a> the founder of Silk Road, who had been serving a life sentence for drug trafficking and money laundering.



Trump's stance on cryptocurrency has shifted significantly over time—from initial skepticism to strong support—which has fueled optimism among convicted figures in the crypto space. 



Bankman-Fried, once regarded as a leading figure in the industry before FTX's collapse, may now be looking to capitalize on Trump's changing views as he seeks a pardon.



Unlike Ulbricht, who had broad backing from the libertarian and crypto communities, Bankman-Fried has not received similar widespread support. 



However, his defense team has argued that his sentence was overly harsh, particularly given that most FTX customers have recovered their lost funds.



Ryan Salame, a former FTX executive <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/39044786/former-ftx-executive-ryan-salame-sentenced-to-over-7-years-in-prison">sentenced to over seven years</a> for campaign finance violations and operating an unlicensed money-transmitting business, has also expressed interest in securing a pardon.



Unlike past administrations, Trump has often bypassed the traditional Justice Department clemency process, instead granting pardons based on personal recommendations or political factors.



Also Read:<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43347567/institutional-bitcoin-buyer-boom-czech-national-bank-approves-reserve-proposal-norways-sovereign-wealth-fund-increases-exposure"> Institutional Bitcoin Buyer Boom: Czech National Bank Approves Reserve Proposal, Norway&#8217;s Sovereign Wealth Fund Increases Exposure</a>



Why It Matters: Trump's use of pardons differs from his first term, when most clemency decisions were made toward the end of his presidency.



His current approach more closely resembles that of Joe Biden, who issued pardons for political allies and family members before leaving office.



Though Bankman-Fried was previously known as a major Democratic donor, Trump has shown willingness to assist individuals across the political spectrum if he believes they were unfairly prosecuted. 



The former president has reportedly considered intervening in the bribery case against New York Mayor Eric Adams, who claimed he was targeted for criticizing Biden's immigration policies.



Adding another dimension to Bankman-Fried's case is the fact that both he and Trump were tried by U.S. District Judge Lewis A. Kaplan. 



The same judge who sentenced the FTX founder to 25 years in prison also oversaw Trump's defamation and sexual assault cases brought by journalist E. Jean Carroll. 



Both men have accused Kaplan of being biased against them.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43344908/bitcoin-will-not-be-considered-for-central-bank-reserves-ecb-president-christine-lagarde-says">&#8216;Bitcoin Will Not Be Considered For Central Bank Reserves,&#8217; ECB President Christine Lagarde Says</a></li>
</ul>



Image: Shutterstock

Sam Bankman-Fried's Parents Seek Presidential Pardon From Donald Trump

Wall Street is struggling to find risk-on momentum, with major indexes stuck near the flatline at midday as investors assess the latest earnings reports from mega-cap tech stocks and weaker-than-expected U.S. economic growth in the<a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43336153/us-economy-grows-below-q4-estimates-as-consumer-spending-hits-7-quarter-high"> final quarter of 2024.</a>



After Tuesday's rally — which followed a selloff triggered by DeepSeek&#8217;s impact earlier in the week — caution has taken hold, signaling the wounds from the downturn are still fresh.



Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) is among the hardest-hit stocks, plunging more than 6%, which could mark its worst daily decline<a href="https://www.benzinga.com/news/earnings/25/01/43333060/msft-stock-declines-over-4-in-premarket-after-q2-results-ceo-satya-nadella-says-deepseek-has-some-r"> since October 2022</a>.



Despite reporting overall stronger-than-expected earnings, Microsoft&#8217;s cloud segment, Azure, fell short of growth expectations, and the company slightly missed its revenue guidance for the ongoing quarter.



In contrast, Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) climbed 1.7% post-earnings, reaching new all-time highs.



Another major laggard was United Parcel Service Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>), which plummeted 15%, potentially heading for its worst single-day drop <a href="https://www.benzinga.com/news/earnings/25/01/43335015/ups-q4-earnings-major-customer-volume-cut-raises-jitters-stock-tanks">since going public in 2002</a>.



UPS Chief Financial Officer Brian Dykes revealed during the earnings call the company reached an agreement in principle with Amazon.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) to significantly cut the volume of packages it handles for the e-commerce giant, aiming for a 50% reduction by the second half of 2026.



The U.S. dollar and bond yields remained stable following the Federal Reserve's decision Wednesday to keep interest rates unchanged at 4.25%-4.5%.



Among commodities, precious metals stood out, with gold rising 1.4% to <a href="https://www.benzinga.com/news/econ-s/25/01/43348204/gold-hits-record-high-as-central-banks-ease-stance-5-mining-stocks-rally">new all-time highs </a>and silver climbing 2.4%.



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) edged up 1% to around $105,000.



<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>• Russell 2000</td><td>2,306.29</td><td>1.0%</td></tr><tr><td>• Dow Jones</td><td>44,866.30</td><td>0.3%</td></tr><tr><td>• S&amp;P 500</td><td>6,054.43</td><td>0.3%</td></tr><tr><td>• Nasdaq 100</td><td>21,420.81</td><td>0.0%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated at 12:50 p.m. ET</figcaption></figure>



According to&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent012925&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>&nbsp;data:



<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;inched 0.2% higher to $603.10.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) edged up by 0.2% to $448.22.</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;edged 0.1% lower to $521.30.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 1.2% to $228.50.</li>



<li>The&nbsp;Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) outperformed, up 1.7%; the&nbsp;Technology Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>), lagged down 0.4%.</li>
</ul>



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



<ul>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rose 4.4% in reaction to quarterly earnings results. </li>



<li>Other stocks reacting to earnings include: 
<ul>
<li>ServiceNow Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) down 12.6%</li>



<li>International Business Machines Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) up 12.3%</li>



<li>Lam Research Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) up 7.96%</li>



<li>Raymond James Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RJF#NYSE">RJF</a>) down 1.15%</li>



<li>Ameriprise Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMP#NYSE">AMP</a>) down 3.08%</li>



<li>Waste Management Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) up 4.53%</li>



<li>Las Vegas Sands Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LVS#NYSE">LVS</a>) up 10.4%</li>



<li>Lazard Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAZ#NYSE">LAZ</a>) up 3.58%</li>



<li>Kirby Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEX#NYSE">KEX</a>) up 7.22%</li>



<li>Flagstar Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLG#NYSE">FLG</a>) up 16.46%</li>



<li>Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>) down 4.43%</li>



<li>Northrop Grumman Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) down 2.04%</li>



<li>Dow Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>) down 6.09%</li>



<li>Valero Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLO#NYSE">VLO</a>) down 2.5%, </li>



<li>Cigna Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>) down 8.46%,</li>
</ul>
</li>



<li>Major companies slated to report earnings after the close are Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>), Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), KLA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>), PPG Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPG#NYSE">PPG</a>), ResMed Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RMD#NYSE">RMD</a>), Baker Hughes Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>), Deckers Outdoor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>) and LPL Financial Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>). </li>
</ul>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/general/gaming/25/01/43342224/ryan-cohen-moves-gamestop-shares-to-personal-name-sparking-speculation-on-next-steps">Ryan Cohen Moves 36.8 Million GameStop Shares To Personal Name, Sparking Speculation On Next Steps</a></li>
</ul>



Photo via Shutterstock.

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KLAC

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LRCX

Wall Street Remains Flat, Microsoft Eyes Heaviest Drop Since Late 2022, Gold Sets Fresh Records: What's Driving Markets Thursday?

All 64 passengers and crew members aboard an American Airlines regional jet have died after the <a href="https://www.benzinga.com/25/01/43328465/no-survivors-yet-to-plane-crash-near-reagan-national-airport-american-airlines-ceo-heads-to-washington">plane collided midair </a>with a U.S. Army Black Hawk helicopter near Ronald Reagan Washington National Airport on Wednesday night, officials confirmed Thursday. 



The crash, which sent both aircraft into the Potomac River, marks the deadliest air disaster on U.S. soil since 2001, <a href="https://www.cnbc.com/2025/01/30/aircraft-down-in-potomic-river-near-dca-airport.html">according </a>to CNBC.



Washington, D.C. Fire and EMS Chief John Donnelly said at least 28 bodies have been recovered so far—27 from the plane and one from the helicopter. 



"We are now at the point where we are switching from a rescue operation to a recovery operation," said Donnely, as <a href="https://apnews.com/article/ronald-reagan-national-airport-crash-62adba7fb1f546b4cf1716e42b86482b">reported </a>by the Associated Press.  



Read Next: <a href="https://www.benzinga.com/25/01/43306674/trumps-hhs-pick-robert-kennedy-jr-begins-senate-confirmation-hearings">Robert Kennedy Jr. Faces Senate Confirmation Hearings As Bird Flu Concerns Grow: Caroline Kennedy Says Cousin &#8216;Predator&#8217; Unfit For Office&nbsp;</a>



Officials said flight conditions were clear as the American Airlines jet was making a routine landing at Reagan National Airport. The cause of the collision is unclear at this time.&nbsp;



"On final approach into Reagan National it collided with a military aircraft on an otherwise normal approach," American Airlines Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) CEO Robert Isom said. "At this time we don't know why the military aircraft came into the path of the &#8230; aircraft."



The FAA announced that Reagan National Airport will reopen at 11 a.m. Thursday after flights were grounded <a href="https://www.benzinga.com/tech/25/01/43326442/takeoffs-landings-halted-at-reagan-washington-national-airport-after-jet-falls-in-potomac-river">following the crash</a>.  



Transportation Secretary Sean Duffy said the appropriate agencies, including the Federal Aviation Administration and U.S. Department of Transportation, are investigating the crash. 



"I would just say that everyone who flies in American skies expects that we fly safely," Duffy said, according to the AP. 



"That when you depart an airport, you get to your destination. That didn't happen last night and I know that President Trump, his administration, the FAA, the DOT, we will not rest until we have answers for the families and for the flying public. You should be assured that when you fly, you're safe," Duffy added.&nbsp;



Read Next:&nbsp;



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



Image: Shutterstock

Travel

64 Killed In American Airlines Midair Collision Near D.C., Worst US Air Disaster Since 2001

Intel Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NYSE">INTC</a>) is set to report its fourth-quarter financial results on Thursday after the closing bell. Here's a look at what the Street will be <a href="https://www.benzinga.com/trading-ideas/technicals/25/01/43316248/intel-faces-bearish-pressure-as-q4-earnings-loom-ceo-search-ai-in-focus">looking for in the report. </a>



What To Watch: Investors will be watching for updates on Intel's search for a permanent CEO following Pat Gelsinger's abrupt retirement on Dec. 1, 2024. David Zinsner and Michelle Johnston Holthaus are acting as interim co-CEOs while the board conducts its search.&nbsp;



Eyes will also be on<a href="https://www.benzinga.com/media/25/01/43004444/intel-plans-to-spin-off-5-billion-venture-capital-segment-will-remain-anchor-investor"> any updates</a> to segment spin-offs, including Altera and Intel Capital, and other restructuring efforts.&nbsp;



Updates on PC sales and demand trends are in the spotlight, as Intel&#8217;s PC revenue is expected to drop more than 11% on low AI PC demand. Investors will also be interested in Intel's data center segment which has seen declining revenues for ten consecutive quarters.



See Also:<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43254018/sofi-stock-falls-on-soft-guidance-despite-strong-quarter-with-record-member-growth-loan-originations-analyst"> SoFi Stock Falls On Soft Guidance Despite &#8216;Strong Quarter&#8217; With Record Member Growth, Loan Originations: Analyst </a>



Expert Ideas: Mizuho Securities recently suggested that Trump's <a href="https://www.benzinga.com/markets/equities/25/01/43258081/trump-proposes-tariffs-on-taiwans-semiconductor-and-pharmaceutical-imports-amid-tsmcs-65-billion-expansion-plans">proposed policies</a> and potential tariffs&nbsp; could benefit American chipmakers like Intel.&nbsp;



However, Rosenblatt analyst Hans Mosesmann maintained Intel stock with a Sell rating and $20 price target on Thursday ahead of the earnings release.&nbsp;



Analysts expect the company to report quarterly earnings of 12 cents per share and revenue of $13.81 billion, a significant drop from EPS of 54 cents and revenue of $15.41 billion from the same period last year.&nbsp;



INTC Price Action: According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Intel shares are up % at $ in Thursday's premarket trading.&nbsp;&nbsp;



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/25/01/43287988/microsoft-q2-preview">Microsoft Q2 Earnings Preview: Street &#8216;Too Optimistic&#8217; On Near-Term AI Returns?&nbsp;</a></li>
</ul>



Image: Shutterstock

Previews

Intel Q4 Earnings Preview: CEO Search, PC Demand, Spinoffs On Watch

GameStop Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) stock could be back in the spotlight with social media spotting a move made by CEO Ryan Cohen, which comes as the company has been quiet about what it's doing with <a href="https://www.benzinga.com/general/gaming/24/12/42425015/gamestop-q3-earnings-revenue-miss-4b-cash-no-more-offerings-planned-in-fiscal-year">its large cash balance.</a>



What Happened: A new 13D filing from GameStop <a href="https://www.benzinga.com/general/gaming/24/09/41069111/if-you-invested-1-000-in-gamestop-stock-when-ryan-cohens-stake-was-disclosed-heres-how-much-youd-h">CEO Ryan Cohen</a> shows that he has transferred ownership of 36,847,842 GME shares from RC Ventures LLC to his own personal name.



The move shows 8.2% ownership of GameStop in the <a href="https://gamestop.gcs-web.com/static-files/1dc83b9c-23fb-424b-9919-bca58a86ed6a">filing</a>. The transfer also takes the ownership from a Delaware place of organization to Canada, moving the shares to a new country.



"Upon the internal transfer of shares from RC Ventures, an entity holding Mr. Cohen's personal investments and of which Mr. Cohen serves as the manager and is the sole party with a pecuniary interest, to Mr. Cohen," the filing reads.



With the transfer, RC Ventures no longer beneficially owns any GameStop stock.



"The shares beneficially owned by Mr. Cohen were purchased with personal funds (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business). The aggregate purchase price of the 36,847,842 shares beneficially owned by Mr. Cohen is approximately $96,076,057, excluding brokerage commissions."



The reason for the move was not made publicly known, but <a href="https://x.com/Malone_Wealth/status/1884720034590953740/photo/1">speculation </a>has begun on social media.



Possible reasons for the move shared on social media include using the shares as collateral, taking GameStop private, making mergers and acquisitions easier with one less corporate layer or for tax strategy.



While the reason for the move is unknown and could just be a strategic decision for Cohen's personal financials, the move comes as GameStop has over $4 billion in cash and has been quiet on what it will be using the cash for.



One widely discussed theory on social media is that GameStop may be considering a merger or acquisition involving a company tied to RC Ventures, potentially explaining the share movement.



Read Also: <a href="https://www.benzinga.com/general/gaming/25/01/42924593/gamestop-pr-blitz-incoming-heres-what-public-relations-job-opening-says">GameStop PR Blitz Incoming? Here&#8217;s What Public Relations Job Opening Says</a>



Why It's Important: Cohen disclosed a 9% stake in GameStop in August 2020 and later increased his stake in the company to 13% later that year.



Cohen later became the chairman of GameStop in June 2021 and was announced as the CEO in September 2023.



GameStop has been one of the most popular stocks in recent years thanks to strong interest from retail traders and <a href="https://www.benzinga.com/general/gaming/23/01/30412695/gamestop-short-squeeze-anniversary-a-look-back-at-david-vs-goliath-battle-and-whats-next">a short squeeze</a> that was one of the most talked about financial stories of the last 20 years that became a book, the subject of several documentaries and a major motion picture.



As a retailer that counts on sales of physical gaming items, the company has been the victim of declining sales across several business lines as the gaming sector transitions to more digital sales. The company has diversified into items like collectibles and trading cards, but many investors and analysts want to hear more on the company's growth strategy.



Cohen's move could signal a strategic shift for GameStop, or it might just be a routine filing.



GME Price Action: GameStop stock is up 2% to $28.10 Thursday versus a 52-week trading range of $9.95 to $64.83. The stock is up 93% over the last year.



Read Next: 



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



Photo Courtesy 1take1shot On Shutterstock.com

Gaming

Management

Ryan Cohen Moves 36.8 Million GameStop Shares To Personal Name, Sparking Speculation On Next Steps

It's no surprise that Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) have been on a capex spree, pouring billions into their cloud infrastructure <a href="https://www.benzinga.com/topic/artificial-intelligence">and AI ambitions</a>. 



Yet, just as the tech giants hit double-digit growth in the December quarter, a potential hiccup looms over their investment strategies—thanks to a little something called DeepSeek.



And as these two tech titans race in 2025, both are looking to strike a delicate balance between growth and optimization.



<h2 class="wp-block-heading">Meta's Power Play: Capex As A Strategic Advantage</h2>



Meta's cloud investments are cruising ahead with strong double-digit growth into 2025, with a hefty capex target of $60-65 billion for next year, representing a solid 60% y/y growth. This hefty investment is fueled by AI, servers, and data centers, which will be vital for Meta's grand ambitions.



Despite a looming focus on efficiency, Meta is playing down any concerns about cutting back on compute power, as the company still views these investments as its competitive edge.



&#8220;Robust capex investments will represent a strategic advantage over time,&#8221; Meta emphasized, according to JPMorgan analyst Doug Anmuth. It's clear that Meta's roadmap involves some serious firepower—both figuratively and literally—especially as it ramps up infrastructure to stay ahead of competitors.



Read Also: <a href="https://www.benzinga.com/markets/25/01/43326499/mark-zuckerberg-says-chinas-deepseek-did-some-novel-things-were-still-digesting-but-meta-may-keep-pouring-billions-into-ai-infrastructure-anyway">Mark Zuckerberg Says China&#8217;s DeepSeek Did Some Novel Things &#8216;We&#8217;re Still Digesting,&#8217; But Meta May Keep Pouring Billions Into AI Infrastructure Anyway</a>



<h2 class="wp-block-heading">Microsoft&#8217;s Cloud Capex: Keep Calm &amp; Optimize</h2>



Meanwhile, Microsoft&#8217;s cloud capex for the December quarter surged by 97% y/y to $22.6 billion, a bit higher than expected. But while Microsoft&#8217;s trajectory remains positive, there&#8217;s a twist: the company is signaling flat sequential growth for the first half of 2025. 



Why? A focus on &#8220;optimization&#8221; after the DeepSeek announcement. Microsoft wants to keep the momentum going but is cautious about scaling up too fast, especially as AI infrastructure and server investments take precedence.



To be fair, Microsoft has been the capex leader for quite some time now, with a quarterly average roughly +$10 billion higher than Meta's since March 2023, as noted by JPMorgan analyst Mark Murphy. But it's clear that the company is now entering a more measured phase of its cloud strategy, focusing on AI-related infrastructure and cost reduction at a software level. 



Microsoft emphasized the importance of &#8220;optimization from a software level in order to reduce the price (cost) of LLMs to generate broader demand,&#8221; according to Murphy.



<h2 class="wp-block-heading">Looking To The Horizon: Can They Both Win In The AI Race?</h2>



As both Meta and Microsoft pour resources into their AI and cloud infrastructure, it's evident that neither is slowing down anytime soon. The battle between the two will be one of scale, innovation, and, most critically, how they balance investment with optimization. 



For investors, the outlook remains "favorable for AI-levered names," according to JPMorgan analysts.



With both tech behemoths playing their cards carefully, it's clear that cloud growth isn't just about size—it's about finding efficiencies, optimizing infrastructure, and betting big on AI. 



And if DeepSeek is any indicator, the real question may not be how much they invest but how smartly they do it.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/tech/25/01/43327016/microsoft-ceo-satya-nadella-accepts-deepseek-ai-has-some-real-innovations-but-wont-say-if-they-mark-a-turning-point-for-ai-cost-reduction">Microsoft CEO Satya Nadella Accepts DeepSeek AI Has Some &#8216;Real Innovations&#8217; — But Won&#8217;t Say If They Mark A Turning Point For AI Cost Reduction</a></li>
</ul>



Image created using artificial intelligence via Midjourney.

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Meta Vs. Microsoft: Can Their AI Infrastructure Plans Hold Up Against DeepSeek?

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