The Sunday rally was short-lived as President Donald Trump's tariff confirmation sent top cryptocurrencies down on Monday.



<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 7:30 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>-8.09%</td><td>$86,051.25</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>-13.48%</td><td>$2,147.29</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-15.69%</td><td>$0.1991</td></tr></tbody></table></figure>



What Happened: Bitcoin dumped to an intraday low of $85,081, a day after the <a href="https://in.benzinga.com/25/03/44068814/bitcoin-ethereum-dogecoin-rally-on-trumps-strategic-crypto-reserve-announcement-cardano-xrp-solana-skyrocket-analyst-says-btcs-new-ath-possible-later-in-the-month">announcement of a U.S. strategic cryptocurrency reserve</a> powered it above $95,000.



Ethereum tanked over 13% to an intraday low of $2,097.08, erasing the Sunday upsides, while Dogecoin also took a U-turn, plunging over 15%.&nbsp;



The pullback liquidated $804 million from the cryptocurrency market in the last 24 hours, with $86 million in long positions wiped out.



However, over $1 billion in short positions risked liquidation if Bitcoin rebounded to around $92,300.



Bitcoin's Open Interest plummeted 9.88% in the last 24 hours. Interestingly, Binance futures traders were buying the dip, with long positions surging to 69% of the total bets.



The Crypto Fear and Greed Index fell back into the "Extreme Fear" region, fuelling concerns of further sell-offs.



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 7:30 p.m. ET)</td></tr><tr><td>UNUS SED LEO (LEO)</td><td>+1.27%</td><td>$9.94</td></tr><tr><td>Tether Gold (XAUt)</td><td>+0.99%</td><td>$2,886.73</td></tr><tr><td>Pax Gold (PAXG)</td><td>+0.75%</td><td>$2,888.86</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization tanked 9.27% to $2.84 trillion in the last 24 hours.



Stocks tumbled on Monday. The Dow Jones Industrial Average fell 649.67 points, or 1.48%, to close at 43,191.24. The S&amp;P 500 sank 1.76% to end at 5,849.72, while the tech-focused Nasdaq Composite lost 2.64% to close the session at 18,350.19.



The sell-offs were triggered after <a href="https://www.benzinga.com/general/social-media/25/03/44098232/markets-tank-after-trump-confirms-more-tariffs-heres-what-wall-street-is-saying">Trump reiterated the imposition of tariffs</a> on key trade partners Canada, Mexico, and China.



Investors will focus on the February jobs data, which is due out on Friday, to assess the strength of the U.S. economy.



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



Analyst Notes: Popular blockchain analytics firm CryptoQuant noted that Bitcoin's short-term holders were experiencing modest losses, which could spur accumulation as prices decline.



"For Bitcoin to retest its ATH, a substantial bullish impulse is required, marked by a breakthrough of the STH Cost Basis level ($90,000–91,000) and the ability to maintain prices above this threshold to restore short-term investor confidence," the firm projected.



The cost basis for short-term holders is the original buying price of an investment held for less than a year.



<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">Market Analysis "For Bitcoin to retest its ATH, a substantial bullish impulse is required, marked by a breakthrough of the STH Cost Basis level (90–91K USD) and the ability to maintain prices above this threshold to restore ST investor confidence." – <a href="https://twitter.com/AxelAdlerJr?ref_src=twsrc%5Etfw">@AxelAdlerJr</a> <a href="https://t.co/AvqivYZqS5">pic.twitter.com/AvqivYZqS5</a>&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1896663624472744072?ref_src=twsrc%5Etfw">March 3, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Widely followed cryptocurrency analyst Ali Martinez called $97,000 the "most critical resistance barrier" for Bitcoin, where roughly 2.27 million investors acquired over 1.64 million BTCs.&nbsp;



"Breaking through this supply wall could open the door for new all-time highs," Martinez predicted.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The most critical resistance barrier for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is $97,000, where 2.27 million investors acquired over 1.64 million <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>. Breaking through this supply wall could open the door for new all-time highs! <a href="https://t.co/onQeQw2WGj">pic.twitter.com/onQeQw2WGj</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1896653806957682853?ref_src=twsrc%5Etfw">March 3, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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



<ul>
<li><a href="https://www.benzinga.com/etfs/specialty-etfs/25/03/44092638/bitcoin-mining-etfs-under-pressure-profits-plunge">Bitcoin Mining ETFs Under Pressure As Falling Profits Weigh On Miners</a></li>
</ul>

Cryptocurrency

News

Markets

Movers

Trading Ideas

$BTC

$DOGE

$ETH

Bitcoin, Ethereum, Dogecoin Nosedive As Trump's Tariff Moves Wipe Out Crypto Reserve-Fueled Gains: Analyst Says Breaking Through This Barrier Will Help BTC Touch New Highs

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Chair Robyn Denholm has sold approximately $33.7 million worth of the electric vehicle maker&#8217;s stock, according to a filing with the Securities and Exchange Commission on Monday. This sale is part of a previously adopted trading plan.



What Happened: Denholm has been steadily offloading Tesla shares over recent months. In early February, she sold 112,390 shares worth about $43.2 million, alongside CFO Vaibhav Taneja and board member Kimbal Musk, <a href="https://www.benzinga.com/tech/25/02/43557967/elon-musks-brother-kimbal-musk-and-other-tesla-execs-sell-over-73-million-in-stock">who also offloaded significant holdings</a>. 



This trend among Tesla insiders comes as the company navigates macroeconomic uncertainties and intensifying competition in the EV market.



See Also: <a href="https://www.benzinga.com/trading-ideas/25/03/44097468/polestar-vs-tesla-can-smaller-ev-company-disrupt-giant-facing-boycotts-protests-with-trade-in-offer">Polestar Vs. Tesla: Can Smaller EV Company Disrupt Giant Facing Boycotts, Protests With &#8216;Trade In&#8217; Offer?</a>



Why It Matters: Tesla shares declined 2.84% on Monday, weighed down by broader market concerns following President Donald Trump's announcement of new tariffs on imports from Canada, Mexico, and China. The 25% tariffs on Canadian and Mexican imports and 20% tariffs on Chinese goods have sparked fears of rising costs and inflationary pressure. 



Meanwhile, Tesla&#8217;s leading competitor, BYD Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>), reported robust sales growth in February, more than doubling its new energy passenger vehicle deliveries to 318,233 units. The Chinese EV maker, which briefly overtook Tesla as the world's top battery electric vehicle (BEV) seller in late 2023, remains a formidable challenger, particularly with its <a href="https://www.benzinga.com/25/03/44072164/tesla-rival-byd-more-than-doubles-passenger-vehicle-sales-in-february-thriples-production">dominance in plug-in hybrids</a>.



Price Action: Tesla's stock declined 2.84% on Monday, closing at $284.65, with an additional 0.79% drop in after-hours trading, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>. 



Read Next:



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<li><a href="https://www.benzinga.com/personal-finance/25/03/44065932/mark-cuban-was-asked-how-hed-invest-100k-his-answer-buy-bulk-toothpaste-and-soup-for-the-best-guaranteed-return-on-investment" target="_blank" rel="noreferrer noopener">Mark Cuban Was Asked How He'd Invest $100K — His Answer? Buy Bulk Toothpaste And Soup For The ‘Best Guaranteed Return On Investment'</a></li>
</ul>



Image Via Shutterstock



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

Equities

BYDDY

TSLA

Tesla Chair Robyn Denholm Sells Over $30 Million Worth Of Stock As Automaker Grapples With Macroeconomic Uncertainties, Increased Competitive Heat

On Monday, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) CEO Tim Cook sparked speculation with a cryptic teaser hinting at a new &#8220;Air&#8221; product launch this week, leaving fans wondering whether it's the highly anticipated MacBook Air or something entirely unexpected.



What Happened: Cook posted a short video on X, formerly Twitter, with the text, &#8220;There's something in the air,&#8221; accompanied by the caption, &#8220;This week.&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This week. <a href="https://t.co/uXqQaGNkSk">pic.twitter.com/uXqQaGNkSk</a>&mdash; Tim Cook (@tim_cook) <a href="https://twitter.com/tim_cook/status/1896589954517701057?ref_src=twsrc%5Etfw">March 3, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



While he didn't specify which device Apple is set to unveil, speculation points toward new MacBook Air models <a href="https://in.benzinga.com/tech/25/02/43906680/apples-m4-macbook-air-set-for-march-debut-says-top-analyst-new-13-inch-and-15-inch-models-reportedly-incoming">powered by the upgraded M4 chip</a>.



See Also: <a href="https://www.benzinga.com/media/25/03/44069785/trump-blasts-uks-apple-encryption-order-warns-against-grave-privacy-violations-thats-something-you-hear-about-with-china">Trump Blasts UK&#8217;s Apple Encryption Order, Warns Against &#8216;Grave&#8217; Privacy Violations: &#8216;That&#8217;s Something… You Hear About With China&#8217;</a>



Previously, Bloomberg columnist Mark Gurman reported that Apple is preparing to introduce 13-inch and 15-inch MacBook Air models sometime this month. Apple also launched its <a href="https://www.benzinga.com/news/24/03/37457340/apple-unveils-new-macbook-air-with-m3-chip-and-dual-display-support">M3 MacBook Air</a> around this time last year.



However, Apple has other &#8220;Air&#8221;-branded products in the pipeline. Reports suggest a new iPad Air could <a href="https://www.benzinga.com/tech/25/02/43428732/apples-spring-2025-lineup-iphone-se-4-m4-macbook-air-and-more-expected-soon">also be on the horizon</a>. There have even been rumors of a potential iPhone &#8220;Air,&#8221; though that may <a href="https://in.benzinga.com/tech/25/02/43802471/apples-leaked-renders-show-iphone-17-air-and-pro-getting-unique-camera-islands-but-base-models-looks-may-disappoint-some">materialize in September</a>.



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.



Why It&#8217;s Important: Last month, Apple launched the iPhone 16e, a <a href="https://www.benzinga.com/tech/25/02/43820197/apple-unveils-iphone-16e-with-a18-chip-ai-features-599-price-tag">budget-friendly</a> model replacing the iPhone SE. It is priced at $599 and features the A18 chip and Apple Intelligence.



In its <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> report, Apple reported a revenue of $124.3 billion, surpassing analyst expectations. Despite a slight dip in iPhone sales, the company&#8217;s installed base reached an all-time high.



Mac revenue reached $8.99 billion, up from $7.78 billion last year, while iPad revenue grew to $8.09 billion from $7.02 billion.



Price Action: Apple&#8217;s stock closed at $238.03 on Monday, down 1.58%, but gained 0.97% in after-hours trading, bringing its year-to-date decline to 2.39%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.



Photo via Shutterstock



Check out more of Benzinga&#8217;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:



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<li><a href="https://www.benzinga.com/news/25/02/44055314/mrbeast-lost-millions-on-amazons-beast-games-now-hes-looking-to-raise-hundreds-of-millions-to-take-h" target="_blank" rel="noreferrer noopener">MrBeast Lost Millions On Amazon's ‘Beast Games'—Now He's Looking To Raise Hundreds Of Millions To Take His Brand To The Next Level</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.

Tech

AAPL

Tim Cook Says 'There's Something In The Air' — New MacBook Air Or A Surprise Product Launch On The Cards?

Stocks fell sharply Monday after President Donald Trump announced plans to impose 25% tariffs on imports from Canada and Mexico and an additional 20% tariff on goods imported from China, beginning Tuesday. Here's a look at reactions from Wall Street<a href="https://www.benzinga.com/markets/bonds/25/03/44096578/leon-cooperman-says-he-likes-cash-calls-trumps-deficit-cutting-contractionary"> insiders and experts:</a>



The Kobeissi Letter pointed to a dramatic drop in the Dow Jones index of more than 1100 points at one point, after opening Monday's session up 300 points.&nbsp;



Read Next: <a href="https://www.benzinga.com/general/market-summary/25/03/44084997/tesla-rebounds-while-tariffs-weigh-on-manufacturing-whats-driving-markets-monday">Tesla Rebounds While Tariffs Weigh On Manufacturing: What&#8217;s Driving Markets Monday?</a>



The account posted a chart on social media showing the magnitude of Trump's<a href="https://www.benzinga.com/news/25/03/44092335/trumps-tariffs-threaten-canada-mexico-china-and-american-wallets"> tariff increases</a>, which it said will bring the U.S. average effective tariff to as high as 20% or more.



<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">As the trade war ramps up, the US average tariff rate is set to rise to levels not seen since the Great Depression. Currently, the US average effective tariff rate is set to rise as high as 20% or more. This does not even include the potential 100% tariff on BRICS countries. <a href="https://t.co/c0S2PB6mvr">pic.twitter.com/c0S2PB6mvr</a>&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1896675827800236144?ref_src=twsrc%5Etfw">March 3, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Economist Peter Schiff warned that the higher tariffs would do more harm to the United States than to the countries they are imposed upon.&nbsp;



<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">It&#39;s ridiculous for anyone to claim that foreign nations have more to lose from a trade war than the U.S. Tariffs are taxes on imports. The U.S. is more dependent on imports than any other nation. Therefore, the U.S. has more to lose from a trade war than any other nation!&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1896573597965341121?ref_src=twsrc%5Etfw">March 3, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Others were more optimistic about the new trade policies, including Anthony Pompliano, who highlighted Taiwan Semiconductor Manufacturing Company Ltd.'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) earlier announcement of a $100 billion investment in the United States.&nbsp;



<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">To all the people saying tariffs don't work, here is TSMC saying they are going to invest $100 billion in the US, build 5 new facilities, and create 20,000 American jobs. Probably just a coincidence. <a href="https://t.co/t2cbtb9kMM">pic.twitter.com/t2cbtb9kMM</a>&mdash; Anthony Pompliano &#x1f32a; (@APompliano) <a href="https://twitter.com/APompliano/status/1896673175066587156?ref_src=twsrc%5Etfw">March 3, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Chamath Palihapitiya, entrepreneur and CEO of Social Capital, said that a decline in asset prices, including stocks and homes, could actually benefit President Trump because many of his supporters are young and "asset-light."&nbsp;



<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">1. Trump is more popular with young people than old people. Most young people don't own stocks or homes (aka they are asset-light). 2. Trump is also more popular amongst working and middle class folks. Most of these folks are also asset-light. It stands to reason that a fall…&mdash; Chamath Palihapitiya (@chamath) <a href="https://twitter.com/chamath/status/1896677671939318179?ref_src=twsrc%5Etfw">March 3, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Markets React:&nbsp;



All 3 major indices ended Monday's session firmly red as traders digested President Trump&#8217;s tariff announcements. 



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), tracking the S&amp;P 500, closed down 1.75% at $583.77 and the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), tracking the Nasdaq 100 index, ended the session 2.14% lower at $497.30.&nbsp;



Read Next:



<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/02/44015237/pending-home-sales-crash-to-record-low-jobless-claims-soar-wall-street-reacts">Pending Home Sales Crash To Record Low, Jobless Claims Soar: Wall Street Reacts</a></li>
</ul>



Image: Shutterstock

Social Media

Broad U.S. Equity ETFs

Global

ETFs

General

Markets Tank After Trump Confirms More Tariffs: Here's What Wall Street Is Saying

Restaurant company Chipotle Mexican Grill (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) could be negatively impacted by pending tariffs on Mexico, which could increase the cost of avocados and <a href="https://www.benzinga.com/news/global/25/02/43442219/why-beer-tequila-avocados-cars-iphone-prices-could-rise-trumps-tariffs-on-canada-mexico-china-to-hurt-several-sectors">other food items.</a>



While companies will be faced with tough challenges of how to offset the increased prices and lower profits, Chipotle's CEO Scott Boatwright is committed to not passing the costs onto the consumer.



What Happened: Tariffs of 25% on items imported into the United States from Mexico are <a href="https://www.benzinga.com/news/global/25/02/44010093/trumps-plan-for-canada-mexico-china-tariffs-to-start-march-4-could-shake-stock-market">expected to take effect </a>Tuesday and the restaurant industry is one of many that could face higher costs as a result.



Boatwright recently shared how the company was bracing for higher costs as a result of President Donald Trump&#8217;s tariffs.



"It is our intent as we sit here today to absorb those costs," Boatwright <a href="https://www.nbcnews.com/business/consumer/chipotle-prices-trump-tariffs-ceo-company-will-absorb-higher-costs-rcna194214">said </a>on "NBC Nightly News" Sunday. He said the tariffs could be a "significant headwind" for the company and pricing changes could come in the long run.



Boatwright previously said Chipotle imports around 50% of its avocados from Mexico, with the remaining share coming from places like Colombia, Peru and the Dominican Republic.



"We are fortunate to have such an extraordinary economic model at Chipotle that we can withstand those types of inflationary pressures and not have to pass those costs off to the consumer."



The Chipotle CEO said the company's cost of goods could increase 0.6% on a rolling basis from the tariffs.



"We don't think it's fair to the consumer to pass those costs off to the consumer, because pricing becomes permanent,&#8221; Boatwright said. &#8220;And so again, back to the idea of delivering extraordinary value to the consumer. We're going to stay the course."



Read Also: <a href="https://www.benzinga.com/news/global/25/02/43795579/warren-buffett-unfazed-by-trumps-tariff-threats-oracle-of-omaha-bets-on-mexico-beer">Warren Buffett Unfazed By Trump&#8217;s Tariff Threats: Oracle Of Omaha Bets On Mexico, Beer</a>



Why It's Important: The decision not to pass costs onto consumers was likely a tough one and one that other companies will wrestle with.



Benzinga <a href="https://www.benzinga.com/news/global/24/12/42402629/trump-to-change-dollar-stores-for-good-dollar-tree-exec-says-prepared-to-act">previously shared</a> that Dollar Tree said tariffs could mean price hikes in stores or changes to the product assortment.



Dollar Tree Interim CEO Mike Creedon said the company would look to negotiate lower costs with suppliers, could change product specs and pack sizes and stop the sale of certain items altogether.



Chipotle said earlier this year that 2025 could prove to be a volatile year with slower sales growth than analysts expected.



As a public company, Chipotle faces the tough task of appealing to both investors and consumers. While the move to eat the costs at the restaurant level will be praised by consumers, investors may not share that sentiment. The question will be if they can gain additional customers who appreciate the move or take share from other restaurants that put surcharges on items.



Companies will likely be impacted by tariffs and with stocks selling off on Monday, investors may be expecting things to get worse before they get better.



Benzinga&nbsp;<a href="https://www.benzinga.com/trading-ideas/25/02/43827291/exclusive-will-trumps-tariffs-hurt-or-help-stock-market-59-say-this" target="_blank" rel="noreferrer noopener">recently asked</a>&nbsp;if the tariffs could impact stock market indexes like the S&amp;P 500, which is tracked by the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>).



"How will Trump's tariffs affect the stock market?" Benzinga asked.



The results were:



<ul>
<li>Weigh down: 59%</li>



<li>Push higher: 23%</li>



<li>No real impact: 19%</li>
</ul>



The majority of respondents said Trump's tariffs will send the stock market lower. The remaining voters were split nearly even between the stock market going higher as the result of tariffs or the tariffs not having a real impact on stock market returns.



CMG Price Action: Chipotle stock was up 0.7% to $54.33 on Monday versus a 52-week trading range of $47.98 to $69.26. Chipotle stock is down 9.3% year-to-date in 2025 and trading flat over the last year.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/general/restaurants/25/02/44059763/rfk-jr-applauds-this-restaurant-chains-move-fries-will-be-rfkd">RFK Jr Applauds This Restaurant Chain&#8217;s Move: &#8216;Fries Will Be RFK&#8217;D&#8217;</a></li>
</ul>



Photo: Shutterstock

Politics

Retail Sales

Restaurants

Chipotle Ready To Eat Tariff Costs, Won't Charge Customers More: 'We Don't Think It's Fair To The Consumer'

Electric vehicle company Polestar Automotive Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSNY#NASDAQ">PSNY</a>) has used several strategies to increase its sales and brand awareness in recent years. A new promotion aimed at Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is gaining steam and sees the company attempting to lure away <a href="https://www.benzinga.com/tech/25/01/43155064/polestar-ceo-looks-to-attract-tesla-customers-disenchanted-by-elon-musks-politics-somebody-outside-of-germany-endorsing-right-wing-politicial-parties-totally-unacceptable">existing EV users.</a>



What Happened: Outspoken <a href="https://www.benzinga.com/general/space/25/03/44082374/could-musks-starlink-secure-an-faa-deal-under-trumps-presidency">political commentary and action</a> from Tesla CEO Elon Musk could be damaging the brand awareness and sales of Tesla according to recent reports and sales figures.



Rival EV companies are looking to capitalize on the increased pressure on Tesla from the public and consumers.



Polestar has been attempting to lure Tesla customers in recent months and the company is recently offering a $5,000 discount for Tesla owners who lease a Polestar 3. Added into an additional $15,000 in lease incentives, Polestar customers that come from Tesla could save $20,000 as reported by <a href="https://insideevs.com/news/752184/polestar-3-tesla-lease-deal/">InsideEVs</a>.



Polestar US Head of Sales Jordan Hofmann said in a LinkedIn <a href="https://www.linkedin.com/feed/update/urn:li:activity:7301314899694039040/">post</a> that the promotion is working.



"The numbers speak for themselves. This week we saw some of the highest order days for Polestar 3, and the response to our Tesla Conquest Offer has been incredible," Hofmann said.



Hofmann said momentum for the Polestar 3 is growing.



Read Also: <a href="https://www.benzinga.com/news/25/02/44047246/polestar-secures-new-450m-financing-deal-to-boost-growth">Polestar Secures New $450M Financing Deal To Boost Growth</a>



Why It's Important: While Tesla has faced increased competition in recent years with more electric vehicle companies and models, the political moves by Musk have given companies a new rally cry of offering switch incentives that are working.



The incentives from Polestar and reported momentum from the company come as Tesla sales have declined in <a href="https://www.benzinga.com/25/02/43534797/tesla-sales-drop-60-in-germany-are-elon-musks-politics-getting-in-the-way-of-ev-growth">places like Germany </a>and California to start <a href="https://www.benzinga.com/trading-ideas/25/02/43447273/tesla-sales-drop-12-in-california-is-elon-musks-support-for-donald-trump-hurting-ev-sales">the 2025 year</a>.



Tesla is also facing protests at several locations around the world. Actor and filmmaker Alex Winter told <a href="https://insideevs.com/news/751777/tesla-takeover-alex-winter-interview/">InsideEVs </a>that the protests aren't against Tesla but rather the man leading the company.



"We are anti-Elon Musk. The mission is to decouple Musk from Tesla, because he is a toxic figurehead for that company," Winter said. &nbsp;



Winter, known for his role in the "Bill &amp; Ted" film franchise, is one of the larger voices in the current Tesla protest movement. He said that it's important to get people to stop buying Tesla vehicles as this would force the company to part ways with Musk.



"I think it's the hypocrisy of it. This idea that these guys, who have built their wealth off of government subsidies and government handouts, are accusing hard-working, low-income people of being parasites."



Price Action: Tesla stock was down 2.8% to $284.65 on Monday versus a 52-week trading range of $138.80 to $488.54. Tesla stock is down 25% year-to-date in 2025 and up 51% over the last year.



Polestar stock was down 1.8% to $1.07 Monday versus a 52-week trading range of $0.61 to $1.94. Polestar stock is down 27% year-to-date in 2025 and down 40% over the last year.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/politics/25/02/43880789/elon-musk-approval-rating-hits-41-voters-not-impressed-with-doge-work-and-calls-to-eliminate-departments">Elon Musk Approval Rating Hits 41%: Voters Not Impressed With DOGE Work And Calls To Eliminate Departments</a></li>
</ul>



Photo: Shutterstock

PSNY

Polestar Vs. Tesla: Can Smaller EV Company Disrupt Giant Facing Boycotts, Protests With 'Trade In' Offer?

U.S. President Donald Trump is preparing to slap tariffs on America&#8217;s largest trading partners despite rising signs of an increasingly <a href="https://www.benzinga.com/personal-finance/25/02/44030960/americans-now-expect-4-3-inflation-an-alarming-jump-in-just-3-months">less stable economy</a>.



What To Know: Trump has announced plans to impose 25% tariffs on imports from Canada and Mexico, as well as 20% tariffs on China, beginning Tuesday, according to <a href="https://www.cnn.com/2025/03/03/economy/tariff-choas-threatens-risky-economy/index.html">CNN</a>. 



Meanwhile, consumer confidence has taken a turn, some GDP forecasts have gone negative and consumer spending <a href="https://www.benzinga.com/news/econ-s/25/02/43736972/us-retail-sales-fall-more-than-expected-raise-growth-concerns">unexpectedly declined in January</a>, raising concerns about the economic growth trajectory. Inflation has also proved to be sticky with <a href="https://www.benzinga.com/news/25/02/43667632/inflation-rises-in-january-housing-costs-up-adding-to-consumers-2025-concerns">Consumer Price Index&nbsp;data</a> from January showing a 3% increase, above economist forecasts.



Tariffs could put further pressure on CPI measures as tariffs tend to increase costs. Canada, Mexico and China have also said they would retaliate with tariffs of their own, which creates the possibility for a trade war. If inflation remains elevated above the Federal Reserve&#8217;s 2% goal, rates could remain high for longer than expected.



Check This Out: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44085332/peter-schiff-says-trump-forcing-us-taxpayers-to-buy-bitcoin-and-other-worthless-crypto-is-preventing-the-market-from-collapse">Peter Schiff Says Trump Forcing US Taxpayers To Buy Bitcoin &#8216;And Other Worthless Crypto&#8217; Is Preventing The Market From Collapse</a>



According to <a href="https://www.cnbc.com/2025/03/02/scott-bessent-says-trump-tariffs-wont-cause-inflation-to-increase.html">CNBC</a>, Treasury Secretary Scott Bessent&nbsp;on Sunday said Trump&#8217;s proposed tariffs are not likely to put further pressure on inflation. Bessent indicated that China will &#8220;eat any tariffs that go on.&#8221;



"China will pay for the tariffs because their business model is exporting their way out of this inflation,&#8221; the Treasury Secretary reportedly said in an interview.



St. Louis Federal Reserve President Alberto Musalem&nbsp;also <a href="https://www.cnbc.com/2025/03/03/inflation-will-move-toward-2percent-target-but-risks-to-outlook-are-rising-says-feds-musalem.html">said</a> that near-term inflation expectations have &#8220;risen substantially&#8221; over the past few weeks during a keynote address at the National Association for Business Economics conference on Monday. 



Although the risks appear to be more skewed to the upside, Muslim&#8217;s baseline case is for &#8220;continued disinflation.&#8221;



The Fed <a href="https://www.benzinga.com/25/01/43316048/fed-holds-interest-rates-steady-halts-streak-of-consecutive-cuts-as-inflation-remains-elevated">kept rates steady</a> in January following three consecutive rate cuts that began in September. The federal funds rate currently sits at a target range of 4.25% to 4.5%. The next meeting is slated for later this month.



The implied probability that the Fed will keep rates unchanged again is currently at 93%, according to CME Group's <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">FedWatch tool</a>.



The SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) faces heavy selling pressure Monday. Trump&#8217;s tariffs will go into effect in less than 24 hours. At last check, it was down about 1.89% at $583.10, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/03/44084997/tesla-rebounds-while-tariffs-weigh-on-manufacturing-whats-driving-markets-monday">Tesla Rebounds While Tariffs Weigh On Manufacturing: What&#8217;s Driving Markets Monday?</a></li>
</ul>



Image: created with Canva.

Government

Federal Reserve

Trump's Tariffs Threaten Canada, Mexico, China — And American Wallets

Billionaire hedge fund manager Leon Cooperman says he&#8217;s taken a &#8220;conservative view&#8221; for his portfolio amid President Donald Trump&#8216;s second term and a long-term <a href="https://www.benzinga.com/government/regulations/25/01/43143201/higher-for-longer-interest-rates-shift-investors-to-value-tariff-fears-overstated">high interest rate environment</a>.



Cooperman <a href="https://www.youtube.com/watch?v=S7N7_gb-0iE&amp;ab_channel=CNBCTelevision">appeared</a> on CNBC on Monday to discuss the macroeconomic environment informing his pivot toward cash and stocks trading at lower valuations.



Cooperman, the chairman and CEO of Omega Advisors, says Trump&#8217;s focus on the deficit is the &#8220;right thing to do&#8221; but is concerning for markets.



&#8220;The president&#8217;s on the right track, but I think he&#8217;s doing things in a very destabilizing manner,&#8221; Cooperman said. &#8220;&#8230;he&#8217;s trying to change the whole ethos of the country&#8230; I understand what he&#8217;s doing, focusing on the deficit, but focusing on the deficit is contractionary.&#8221;



Cooperman has donated to Republican campaigns in the past <a href="https://www.fec.gov/data/receipts/individual-contributions/?contributor_name=Leon+Cooperman">according</a> to FEC filings and <a href="https://www.benzinga.com/general/politics/23/10/35526976/billionaire-hedge-funder-leon-cooperman-says-trump-belongs-in-jail-would-be-terrible-for-the-cou">criticized both Trump</a> and his predecessor, President Joe Biden.



The Goldman Sachs alum says market valuation multiples are too high at 23 times earnings. For his portfolio, Cooperman is looking at stocks trading at a discount with high growth prospects, particularly Fidelis Insurance Holdings Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIHL#NYSE">FIHL</a>) and Lithia Motors Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAD#NYSE">LAD</a>).



Vertiv Holdings Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>) is among Cooperman&#8217;s top holdings, though he does not plan to sell at high current valuations due to tax considerations.



He holds around 15% of his portfolio in short-term cash and thinks that stocks are better protected than bonds to inflation risk.



&#8220;I have a very negative view of bonds — bonds don&#8217;t make any sense to me at 4.2% [yields],&#8221; Cooperman said. &#8220;Rates are going to head up in the long run.&#8221;



Also Read:



<ul>
<li><a href="https://www.benzinga.com/news/25/03/44092335/trumps-tariffs-threaten-canada-mexico-china-and-american-wallets">Trump&#8217;s Tariffs Threaten Canada, Mexico, China — And American Wallets</a></li>
</ul>



Image created using artificial intelligence via Midjourney.

Bonds

Hedge Funds

Economics

FIHL

Leon Cooperman Says He Likes Cash, Calls Trump's Deficit Cutting 'Contractionary'

Okta Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>) reported fourth-quarter financial results after the market close on Monday. Here&#8217;s a look at the key metrics <a href="https://www.benzinga.com/pressreleases/25/03/b44093617/okta-announces-fourth-quarter-and-fiscal-year-2025-financial-results">from the quarter</a>.



Q4 Earnings: Okta reported fourth-quarter revenue of $682 million, beating analyst&nbsp;<a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">estimates</a>&nbsp;of $669.46 million, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>. The cloud-native cybersecurity company reported adjusted earnings of 78 cents per share, beating analyst estimates of 74 cents per share.



Total revenue and subscription revenue were both up 13% on a year-over-year basis. Remaining performance obligations totaled $4.215 billion at quarter's end, up 25% year-over-year.



Net cash provided by operations was&nbsp;$286 million, up from $174 million in the prior year&#8217;s quarter. The company generated free cash flow of $284 million in the quarter, up from $166 million year-over-year. Okta ended the quarter with $2.523 billion in cash, cash equivalents and short-term investments.



&#8220;Okta&#8217;s strong financial results were highlighted by accelerating RPO and cRPO, coupled with record profitability and cash flow,&#8221; said&nbsp;Todd McKinnon, co-founder and CEO of Okta.



&#8220;In a rapidly evolving IT and security landscape, organizations are turning to Okta as their identity partner for our ability to deliver the broadest array of modern identity security with the flexibility to meet their demands.&#8221;



See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/03/44092246/best-buy-q4-earnings-preview-analysts-say-upside-limited-tariffs-present-downside-risk">Best Buy Q4 Earnings Preview: Analysts Say Upside Limited, &#8216;Tariffs Present Downside Risk&#8217;</a>



Outlook: Okta expects first-quarter revenue to be in the range of $678 million to $680 million versus estimates of $670.81 million. The company anticipates first-quarter adjusted earnings&nbsp;of 76 to 77 cents per share versus estimates of 70 cents per share.&nbsp;



Okta expects full-year 2026 revenue to be in the range of $2.85 billion to $2.86 billion versus estimates of $2.8 billion. The company expects full-year adjusted earnings of $3.15 to $3.20 per share versus estimates of $2.94 per share.



&#8220;We&#8217;re entering the new fiscal year laser focused on serving our customers with even more innovation on the Okta and Auth0 platforms while further elevating the industry with the Okta Secure Identity Commitment,&#8221; McKinnon said.



Okta also announced that it passed $1 billion in total sales on the Amazon Web Services (AWS) Marketplace in January. The company first listed its secure identity solutions in AWS Marketplace in December 2020.



Okta executives will further discuss the quarter on a conference call with investors and analysts at 5 p.m. ET.



OKTA Price Action: <a href="https://www.benzinga.com/quote/OKTA" target="_blank" rel="noreferrer noopener">Okta shares</a> were up 11.3% after hours, trading at $98.58 at the time of publication Monday, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.



Photo: Shutterstock.

Earnings

Guidance

OKTA

Okta Q4 Earnings: Revenue Beat, EPS Beat, Strong Guidance, Shares Jump 12%

Crypto markets are pulling back after a strong Sunday as digital asset investment products saw their third consecutive week of outflows, with Bitcoin taking the biggest hit—$2.6 billion in outflows.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>&nbsp;$85,736.90</td><td>-8.8%</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>&nbsp;$2,119.28</td><td>-15.5%</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>&nbsp;$144.10&nbsp;</td><td>-17%</td></tr><tr><td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>&nbsp;$2.40</td><td>-16.3%</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>&nbsp;$0.1994</td><td>-14.8%</td></tr><tr><td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>&nbsp;$0.00001290&nbsp;&nbsp;</td><td>-14%</td></tr></tbody></table></figure>



Notable Statistics:



<ul>
<li>IntoTheBlock data shows large transaction volume increasing by 25% and daily active addresses falling by 16.8%. Transactions greater than $100,000 are up from 9,755 to 10,965 in a single day. Exchanges netflows are up by 4.1%.</li>



<li>Coinglass data reports 195,184 traders were liquidated in the past 24 hours for $672.38 million.</li>
</ul>



Notable Developments:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44077079/analysts-doubt-us-crypto-reserve-expansion-beyond-bitcoin-cite-funding-challenges">Analysts Doubt US Crypto Reserve Expansion Beyond Bitcoin, Cite Funding Challenges</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44080002/crypto-czar-david-sacks-confirms-selling-all-bitcoin-ethereum-solana-holdings-denies-large-indirect-holdings">Crypto Czar David Sacks Confirms Selling All Bitcoin, Ethereum, Solana Holdings, Denies &#8216;Large Indirect Holdings&#8217;</a></li>



<li><a href="https://www.benzinga.com/25/03/44072215/blockchain-to-redefine-global-markets-in-a-decade-says-pyth-director">Blockchain To Redefine Global Markets In A Decade, Says Pyth Director</a></li>



<li><a href="https://www.benzinga.com/25/03/44087250/strategys-saylor-calls-crypto-reserve-bullish-for-bitcoin-predicts-100-trillion-opportunity">Strategy&#8217;s Michael Saylor Calls Crypto Reserve &#8216;Bullish for Bitcoin&#8217;, Predicts $100 Trillion Opportunity</a></li>
</ul>



Top Losers:



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Raydium (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">RAY</a>)</td><td>$2.20</td><td>-22%</td></tr><tr><td>Ethena (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">ENA</a>)</td><td>$0.3656</td><td>-21.6%</td></tr><tr><td>Official Trump (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>)</td><td>$12.95</td><td>-20.8%</td></tr></tbody></table></figure>



Trader Notes: Crypto trader Follis <a href="https://x.com/follis_/status/1896651334545502594">dubbed</a> the recent price action "Sunday pump, Monday dump" as Bitcoin reversed its gains. Ali Martinez noted that the last two times Bitcoin formed a hammer candlestick on the weekly chart, it led to major price rallies.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The last two times <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> printed a hammer candlestick on the weekly chart, it led to significant price surges! <a href="https://t.co/LfdEg7gscv">pic.twitter.com/LfdEg7gscv</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1896622098208162271?ref_src=twsrc%5Etfw">March 3, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



CJ <a href="https://x.com/CJ900X/status/1896649152878219322">pointed out</a> that Bitcoin rejecting at the yearly open isn't a great sign, with price re-entering last Wednesday's range. He predicts a move towards $83,000 and warns that for bulls, low $80Ks need to hold as a higher low.



Rekt Capital highlighted Bitcoin's downside deviation, filling the CME gap—potentially setting up a higher low relative to last week's low.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> Indeed, Bitcoin is experiencing another downside deviation which is filling the massive CME Gap to a great extent All in an effort to likely establish some sort of Higher Low relative to last week&#39;s low<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/GtddRJQF2W">https://t.co/GtddRJQF2W</a> <a href="https://t.co/b0x7CsIV2t">pic.twitter.com/b0x7CsIV2t</a>&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1896651365180682587?ref_src=twsrc%5Etfw">March 3, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44085332/peter-schiff-says-trump-forcing-us-taxpayers-to-buy-bitcoin-and-other-worthless-crypto-is-preventing-the-market-from-collapse">Peter Schiff Says Trump Forcing US Taxpayers To Buy Bitcoin &#8216;And Other Worthless Crypto&#8217; Is Preventing The Market From Collapse</a></li>
</ul>



Image: Shutterstock

$ENA

$RAY

$SHIB

$SOL

$TRUMP

$XRP

Bitcoin, Ethereum, XRP, Dogecoin See 'Sunday Pump, Monday Dump'—A Higher Low In The Making?

The market just wrapped up a lackluster February, with <a href="https://www.benzinga.com/topic/s-p-500-index">the S&amp;P 500 Index</a> slipping 1.4% amid economic uncertainty, sticky inflation, and signs of retail buyer fatigue.



But according to Adam Turnquist, Chief Technical Strategist at LPL Financial, seasonal trends suggest that March could bring a shift in momentum, making it a key period for portfolio adjustments.



Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/43861187/sp-500-vs-russell-2000-are-small-caps-set-for-a-breakout">S&amp;P 500 Vs. Russell 2000: Are Small Caps Set For A Breakout?</a>



<h2 class="wp-block-heading">March's Historical Strength Warrants Tactical Adjustments</h2>



Since 1950, the S&amp;P 500 has posted an average March gain of 1.1%, finishing positive 65% of the time. Historically, momentum tends to carry into April, signaling a potential rebound. This seasonality could present a chance for investors to reassess sector allocations and position themselves ahead of a historically favorable period.



Beyond seasonality, macroeconomic headwinds remain in focus. Inflation data continues to drive market sentiment, and Federal Reserve policy expectations could further dictate investor positioning. 



However, Turnquist notes that past trends suggest investors who rotate into outperforming sectors early in the month could benefit from the seasonal upswing.



<h2 class="wp-block-heading">Where To Position: Sector Standouts And Weak Spots</h2>



Turnquist highlights three sectors with historical March outperformance: real estate, utilities, and consumer discretionary. Since 2002, real estate has averaged a 2.0% gain in March, while utilities and consumer discretionary stocks have delivered 1.7% average gains since 1990.



To capitalize on these seasonal trends, investors may look to the Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) and the Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) for defensive positioning, while the Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) could benefit from renewed market momentum. These exchange-traded funds (ETFs) offer broad exposure to sectors that have historically outperformed during this period.



Conversely, healthcare has underperformed in March, with an average return of just 0.5%. Investors looking to rebalance may consider reducing exposure to healthcare stocks or reallocating funds toward historically stronger sectors.



<h2 class="wp-block-heading">A Prime Moment For Portfolio Adjustments</h2>



With February's pullback offering a reset, March presents a prime opportunity for investors to optimize portfolios ahead of what has historically been a seasonally strong period. 



While macroeconomic risks persist, historical patterns suggest that a tactical shift into leading sectors could offer a strategic advantage.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/25/03/44074852/sp-500-correction-overdue-will-the-markets-sideways-dance-turn-into-a-tumble-focus-on-balance-and-diversification-recommends-analyst">S&amp;P 500 Correction &#8216;Overdue:&#8217; Will The Market&#8217;s &#8216;Sideways&#8217; Movement Turn Into A Tumble? &#8216;Focus On Balance And Diversification,&#8217; Says Analyst</a></li>
</ul>



Image created using artificial intelligence via Midjourney.

Long Ideas

Sector ETFs

XLRE

March Market Trends Signal 3 Sectors To Watch As Seasonal Strength Builds

Renowned Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) skeptic Peter Schiff has weighed in on Donald Trump's announcement regarding a potential crypto strategic reserve, voicing concerns over <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43765261/bitcoin-reserve-can-potentially-secure-u-s-superpower-status">government involvement in the market</a>.



What Happened: Schiff retweeted an <a href="https://x.com/PeterSchiff/status/1896524086576337391">X</a> post from Feb. 26, where he stated that the &#8220;only thing that can delay a Bitcoin meltdown is Trump.&#8221; 



He had suggested that strong government support—such as a strategic Bitcoin reserve funded by large purchases—could temporarily push prices higher.



Referencing the announcement of a crypto reserve, Schiff referred to his earlier take, saying that &#8220;without Trump forcing U.S. taxpayers to buy Bitcoin and other worthless crypto tokens, the entire crypto market would collapse.&#8221;



Schiff <a href="https://x.com/PeterSchiff/status/1896536936824872976">argued</a> that a government-backed crypto reserve would ultimately be counterproductive. 



While large-scale purchases might provide short-term price stability, he warns that once the buying stops, the market would likely resume its decline. Worse, if the government ever liquidates its holdings, it could trigger a massive crash.



While Schiff <a href="https://x.com/PeterSchiff/status/1896390842782494938">acknowledges</a> that Trump may view crypto as an important industry, he insists that taxpayer funds should not be used to "subsidize" it. 



He believes markets—not governments—should determine winners and losers, arguing that history has shown central planning to be ineffective



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44080002/crypto-czar-david-sacks-confirms-selling-all-bitcoin-ethereum-solana-holdings-denies-large-indirect-holdings">Crypto Czar David Sacks Confirms Selling All Bitcoin, Ethereum, Solana Holdings, Denies &#8216;Large Indirect Holdings&#8217;</a>



Why It Matters: In a CNBC <a href="https://www.youtube.com/watch?v=xSKRwaK4Lq4">interview</a> in December, GOP Senator Cynthia Lummis (R-Wyo.) countered concerns about taxpayer funding, stating that the U.S. government would not need to print new money to establish <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42601193/senator-lummis-introduces-strategic-bitcoin-reserve-proposal">a strategic reserve.</a>



She pointed out that the government already holds over 200,000 BTC from asset forfeitures. Additionally, reserves at the 12 Federal Reserve Banks—including gold certificates—could be converted at fair market value and sold into Bitcoin



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44069015/bitcoin-is-digital-gold-but-whats-the-rationale-for-an-xrp-reserve-asks-peter-schiff-cardano-founder-charles-hoskinson-says-trump-made-the-right-decision">Bitcoin Is Digital Gold But &#8216;What&#8217;s The Rationale For An XRP Reserve&#8217;, Asks Peter Schiff: Cardano Founder Charles Hoskinson Says Trump Made The Right Decision</a></li>
</ul>



Image: Shutterstock

Peter Schiff Says Trump Forcing US Taxpayers To Buy Bitcoin 'And Other Worthless Crypto' Is Preventing The Market From Collapse

Billionaire Elon Musk could benefit from his close friendship with President Donald Trump, which could add to <a href="https://www.benzinga.com/topic/elon-musk">his massive wealth.</a>



A new report suggests that Musk's SpaceX may receive potential funding from the FAA.



What Happened: While Musk's Starlink segment of SpaceX previously <a href="https://www.benzinga.com/news/24/10/41113339/elon-musk-resumes-slamming-fccs-decision-to-deny-starlink-885m-subsidy-after-fema-sends-its-terminal">clashed with government agencies</a> like the Federal Communications Commission, the unit could land several new government deals under the Trump presidency.



Starlink could be the winner of a $2.4 billion FAA contract, taking over from Verizon Communications (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>). The FAA has directed its staff to find tens of millions of dollars for a Starlink deal according to a Rolling Stone <a href="https://www.rollingstone.com/politics/politics-features/elon-musk-starlink-faa-officials-find-funding-1235285246/">report</a>.



Sources said the FAA has told employees to find money for the Starlink deal verbally, a rare occurrence that could indicate that "someone does not want a paper trail."



Musk, who is a key figure in Trump's Department of Government Efficiency, has sought to fire hundreds of employees at the FAA.



The Verizon deal for air traffic control has been a hot topic in recent weeks with reports that Starlink could end up with the contract, a move that could be a conflict of interest given Musk's role within the new White House administration, according to Rolling Stone.



Congresswoman Rosa DeLaura (D-Conn.) and Congressman James Clyburn (D-S.C.) called a reported deal between the FAA and Starlink "a glaring conflict of interest," as <a href="https://www.theverge.com/news/622502/faa-orders-staff-find-funding-starlink-verizon-deal">reported </a>by The Verge. The members of Congress said a potential deal would "put Elon Musk's personal wealth over the American people's lives."



The billionaire has claimed that Verizon's communications system with air traffic control is "breaking down rapidly." Musk later issued a correction and said the Verizon system was "not yet operational." Musk's criticism was instead directed at L3 Harris Technologies Inc (NYSE:LHX), which made the system currently being used.



Read Also: <a href="https://www.benzinga.com/politics/25/02/43880789/elon-musk-approval-rating-hits-41-voters-not-impressed-with-doge-work-and-calls-to-eliminate-departments">Elon Musk Approval Rating Hits 41%: Voters Not Impressed With DOGE Work And Calls To Eliminate Departments</a>



Why It's Important: It is not currently clear if Verizon's deal with the FAA remains operational or if Starlink has landed any FAA deals.



Along with the potential FAA deal, Starlink is likely to be a big winner from the current Federal Communications Commission.



The <a href="https://www.benzinga.com/24/11/42029445/trump-names-pro-starlink-fcc-commissioner-brendan-carr-as-chairperson">FCC is led</a> by Brendan Carr, a public supporter of Starlink. Carr opposed a previous FCC decision not to offer $900 million in subsidies to Starlink.



Starlink made recent headlines by <a href="https://www.benzinga.com/general/space/25/03/44064222/starlink-launches-80-monthly-plan-as-it-targets-wider-customer-base">announing a new monthly plan</a> offering a lower network speed available in select areas. The residential lite plan costs $80 per month and is cheaper than the normal $120 per month plan.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/news/25/02/43962278/elon-musks-doge-staffers-resign-refuse-to-dismantle-critical-public-services-white-house-hits-back-saying-trump-wont-be-stopped-by-protests-and-lawsuits">Musk&#8217;s DOGE Staffers Revolt! Refuse To &#8216;Dismantle&#8217; Services…White House Fires Back</a></li>
</ul>



Photo created using images from Shutterstock.

SPACE

Could Musk's SpaceX Secure An FAA Deal For Starlink Under Trump's Presidency?

Stocks fell broadly on Monday to start the month of March with all three major indices red in midday trading. Investors digested a decline in February's ISM Manufacturing PMI data which fell to 50.3%, down <a href="https://www.benzinga.com/general/market-summary/25/03/44081294/tariffs-weigh-on-us-manufacturing-february-prices-grow-at-fastest-pace-since-2022">from 50.9% in January.&nbsp;</a>



Overall demand weakened in February, new orders and employment contracted and production growth decelerated sharply. The impact of new tariffs drove prices higher at the fastest pace since June 2022,&nbsp; according to Trading Economics. Additional tariffs are set to go into effect on Tuesday, dampening investor sentiment.&nbsp;



Read Next: <a href="https://www.benzinga.com/general/market-summary/25/02/44015237/pending-home-sales-crash-to-record-low-jobless-claims-soar-wall-street-reacts">Pending Home Sales Crash To Record Low, Jobless Claims Soar: Wall Street Reacts</a>



The tech sector was Monday's worst performer, led lower by Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) and Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>). The SPDR Select Sector Technology Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) was down 0.63% and the tech-heavy Nasdaq 100 slipped 0.5%.&nbsp;



The yield on the 10-year US Treasury note fell to 4.2% on Monday, down 35bps in the last nine sessions. The iShares 20+ Year Treasury Bond ETF was down by 0.16%. 



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and other cryptocurrencies were down after rallying on Sunday following President Trump's announcement of the creation of a strategic reserve that would include bitcoin, Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and other popular cryptos.&nbsp;



<h2 class="wp-block-heading">Monday's Performance In Major U.S. Indices, ETFs</h2>



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Major Indices</td><td>Price</td><td>1 day % chg.</td></tr><tr><td>Nasdaq 100</td><td>18,775.16</td><td>-0.38%</td></tr><tr><td>S&amp;P 500</td><td>5,943.70</td><td>-0.19%</td></tr><tr><td>Dow Jones</td><td>43,734.63</td><td>-0.24%</td></tr><tr><td>Russell 2000</td><td>2,148.56</td><td>-0.67%</td></tr></tbody></table></figure>



According to Benzinga Pro data:



<ul>
<li>The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) slipped 0.15% to $593.29. </li>



<li>The SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) was down 0.16% at $437.68.&nbsp;</li>



<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.03% to $508.33. </li>



<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) eased 0.43% to $213.73.</li>



<li>The Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) rose 0.16% to $216.30. </li>



<li>The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) fell 0.63% to $90.43. </li>
</ul>



<h2 class="wp-block-heading">Monday's Stock Movers: </h2>



Shares of Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) climbed 3% after a Morgan Stanley analyst predicted a rebound in the beaten down stock. Tesla stock remains down <a href="https://www.benzinga.com/government/regulations/25/03/44071203/tesla-falls-nearly-23-destroying-354-billion-of-investor-wealth-in-2025-its-only-going-to-get-worse-says-top-investor">by more</a> than 20% over the past month. 



Stocks reacting to company earnings reports included: 



<ul>
<li>Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>)&nbsp;</li>



<li>Hut 8 Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUT#NASDAQ">HUT</a>)&nbsp;</li>



<li>Fortrea Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTRE#NASDAQ">FTRE</a>)</li>



<li>Burford Capital Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUR#NYSE">BUR</a>)&nbsp;</li>



<li>N-able, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NABL#NYSE">NABL</a>)&nbsp;</li>



<li>Cassava Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAVA#NASDAQ">SAVA</a>)&nbsp;</li>



<li>ImmunityBio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBRX#NASDAQ">IBRX</a>)</li>



<li>Ready Capital Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RC#NYSE">RC</a>)&nbsp;</li>



<li>Biohaven Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHVN#NYSE">BHVN</a>)&nbsp;</li>
</ul>



Companies reporting after Monday's closing bell include: 



<ul>
<li>B. Riley Financial, Inc.(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RILY#NASDAQ">RILY</a>)&nbsp;</li>



<li>Okta, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>)&nbsp;</li>



<li>NuScale Power Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMR#NYSE">SMR</a>)&nbsp;</li>



<li>GitLab Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTLB#NASDAQ">GTLB</a>)&nbsp;</li>



<li>Curaleaf Hldgs Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>)&nbsp;</li>



<li>Dave Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAVE#NASDAQ">DAVE</a>)&nbsp;</li>



<li>Emergent BioSolutions Inc.&nbsp; (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EBS#NYSE">EBS</a>)&nbsp;</li>



<li>AST SpaceMobile, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>)&nbsp;</li>



<li>Concentra Group Holdings Parent, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CON#NYSE">CON</a>)&nbsp;</li>
</ul>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/news/econ-s/25/02/43977811/mortgage-rates-drop-to-lowest-levels-since-december-but-housing-market-remains-largely-stuck">Mortgage Rates Drop To Lowest Levels Since December, But Housing Market Remains &#8216;Largely Stuck&#8217;&nbsp;</a></li>
</ul>



Image: Shutterstock

Large Cap

Market Summary

AMZN

ASTS

AVGO

BHVN

CURLF

DAVE

FTRE

GTLB

IBRX

NABL

NOVA

RILY

SAVA

Tesla Rebounds While Tariffs Weigh On Manufacturing: What's Driving Markets Monday?

Prominent pseudonymous crypto trader Eugene Ng Sio is eyeing a measured approach to the current market conditions following President Trump&#8217;s strategic cryptocurrency reserve announcement that sent Bitcoin (CRYPTO BTC) <a href="https://www.benzinga.com/25/03/44068814/bitcoin-ethereum-dogecoin-rally-on-trumps-strategic-crypto-reserve-announcement-cardano-xrp-solana-skyrocket-analyst-says-btcs-new-ath-possible-later-in-the-month">above $94,000 on Sunday</a>.



What Happened: Major cryptocurrencies have slightly retraced following the Sunday rally, with all proposed &#8216;reserve cryptocurrencies&#8217; trading above Friday&#8217;s highs.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Price</td><td>24-Hour Performance</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>$93,100</td><td>+8.7%</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>$2,370</td><td>+7.0%</td></tr><tr><td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>$2.67</td><td>+18.2%</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>$164.36</td><td>+16.0%</td></tr><tr><td>Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>)</td><td>$0.9965</td><td>+53.8%</td></tr></tbody></table></figure>



Eugene, who had been &#8220;previously very long&#8221; before Trump&#8217;s announcement, disclosed in a message on his Telegram channel that he has &#8220;closed majority of longs&#8221; as the risk-reward ratio has shifted. 



&#8220;At $80,000 BTC / $130 SOL the risk/reward was extremely skewed towards longs, but as of now I think is pretty neutral,&#8221; Eugene stated on Monday.



The trader warns that market volatility will continue to challenge traders on both sides. &#8220;Late shorts and longs on both side will continue to get clipped and only the disciplined will remain profitable,&#8221; he cautioned.



Eugene is adopting a wait-and-see approach, particularly with the upcoming March 7 deadline that could provide clearer direction. &#8220;I have not yet formed a view on whether this is a bullish reclaim of range or a bearish underside retest, and will let price tell me especially after 7 March,&#8221; he explained, adding that he will &#8220;generally keep risk light till then.&#8221;



Regarding Trump&#8217;s ability to include altcoins like Solana, Cardano, and XRP in the proposed strategic Bitcoin reserve, Eugene expressed skepticism about congressional approval while acknowledging Trump&#8217;s track record of achieving his goals.



What Experts Are Saying: Industry leaders have offered <a href="https://www.benzinga.com/25/03/44070857/coinbase-ceo-brian-armstrong-thinks-having-a-bitcoin-only-crypto-reserve-best-option-while-arthur-hayes">varying perspectives on the announcement</a>. 



Coinbase CEO Brian Armstrong suggested that a Bitcoin-only reserve would be the &#8220;best option,&#8221; while BitMEX co-founder Arthur Hayes downplayed the news, stating, &#8220;Nothing new here. Just words. Lmk when they get congressional approval.&#8221;



Despite market enthusiasm, with BitcoinIRA&#8217;s Chris Kline predicting Bitcoin could reach new all-time highs this month, Eugene&#8217;s message emphasizes discipline and patience as the market continues to face risks from <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44065886/trumps-tariffs-blamed-for-1-trillion-crypto-market-crash-is-crypto-president-era-over-already">imminent tariffs on Canada and Mexico.</a>



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44075328/eric-trump-says-timing-of-strategic-bitcoin-xrp-cardano-reserve-announcement-was-a-win-for">Eric Trump Says Timing Of Strategic Bitcoin, XRP, Cardano Reserve Announcement Was A ‘Win' For Retail Investors</a></li>
</ul>



Image: Shutterstock

$ADA

Bitcoin, Ethereum, XRP Consolidate After Trump Strategic Reserve Announcement

The U.S. manufacturing sector expanded for the second consecutive month in February 2025, following 26 months of contraction. However, the effects of newly imposed tariffs were felt <a href="https://www.benzinga.com/25/02/43439462/us-manufacturing-confidence-tops-forecasts">throughout the industry.&nbsp;</a>



The Details: According to the Institute for Supply Management, February's&nbsp;Manufacturing PMI fell to 50.3%, down from 50.9% in January, below market expectations of 50.5% as tracked by Trading Economics.&nbsp;



Overall demand weakened in February, new orders and employment contracted and production growth decelerated sharply. The impact of new tariffs drove prices higher at the fastest pace since June 2022, <a href="https://tradingeconomics.com/united-states/business-confidence">according </a>to Trading Economics. 



Read Next: <a href="https://www.benzinga.com/news/econ-s/25/02/44007082/q4-gdp-holds-at-2-3-after-minor-revision-in-second-estimate">Q4 GDP Holds At 2.3% After Minor Revision In Second Estimate&nbsp;</a>



<ul>
<li>New Orders Index: Fell back into contraction at 48.6%, down 6.5 percentage points from January&#8217;s 55.1%.</li>



<li>Production Index: Recorded 50.7%, a decline of 1.8 percentage points from January, but still in expansion.</li>



<li>Prices Index: Surged to 62.4%, up 7.5 percentage points, reflecting increased input costs due to tariffs.</li>



<li>Employment Index: Dropped to 47.6%, signaling contraction as companies continued cautious hiring and workforce reductions.</li>



<li>New Export Orders Index: Declined slightly to 51.4%, while the Imports Index rose to 52.6%.</li>
</ul>



Four of the six largest manufacturing industries, Petroleum &amp; Coal Products, Food, Beverage &amp; Tobacco Products, Chemical Products and Transportation Equipment, reported growth for the month.



"Demand eased, production stabilized, and destaffing continued as panelists' companies experience the first operational shock of the new administration's tariff policy. Prices growth accelerated due to tariffs, causing new order placement backlogs, supplier delivery stoppages and manufacturing inventory impacts," said Timothy R. Fiore, Chair of the ISM Manufacturing Business Survey Committee.&nbsp;



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



All 3 major indices are red in early trading Monday as the deadline for additional tariffs looms later in the week.&nbsp;



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), tracking the S&amp;P 500, was down 0.26% at $592.66 and the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), tracking the Nasdaq 100 index, was down 0.31% at $506.57 at the time of publication.&nbsp;&nbsp;



Read Next:



<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/02/44015237/pending-home-sales-crash-to-record-low-jobless-claims-soar-wall-street-reacts">Pending Home Sales Crash To Record Low, Jobless Claims Soar: Wall Street Reacts</a></li>
</ul>



Image: Shutterstock

Econ #s

Tariffs Weigh On US Manufacturing: February Prices Grow At Fastest Pace Since 2022

Kroger Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) shares are trading lower Monday after the company announced the resignation of <a href="https://www.benzinga.com/pressreleases/25/03/n44073307/kroger-announces-resignation-of-ceo-rodney-mcmullen">CEO Rodney McMullen</a>.



What Happened: McMullen resigned from Kroger following an investigation of personal conduct by the board. Kroger said it was made aware of a certain personal conduct on Feb. 21, which was immediately investigated. The company&#8217;s board found that McMullen&#8217;s conduct was inconsistent with Kroger&#8217;s policy on business ethics.



Kroger has appointed Ronald Sargent as chairman and interim CEO, effective immediately. Mark Sutton will serve as Kroger&#8217;s lead independent director, effective immediately. Kroger&#8217;s board has formed a search committee and engaged an outside firm to search for its next chief executive.



&#8220;As interim CEO, I am committed to working alongside our proven and experienced management team and dedicated associates to ensure Kroger continues providing exceptional value for our customers,&#8221; Sargent said.



Check This Out: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44073346/mstr-stock-up-nearly-13-in-monday-pre-market-whats-going-on">MSTR Stock Up Nearly 13% In Monday Pre-Market: What&#8217;s Going On?</a>



Kroger expects full-year identical sales without fuel to be at the high end of its guidance range. The company also expects full-year adjusted earnings per share to be slightly above the high end of its guidance range.



Kroger is due to report fourth-quarter financial results before the market opens on Thursday. Analysts currently expect the company to report earnings of $1.11 per share and revenue of $34.51 billion, according to estimates from <a href="http://pro.benzinga.com">Benzinga Pro</a>.



KR Price Action: <a href="http://benzinga.com/quote/kr">Kroger shares</a> were down 3.86% at $62.31 at the time of publication Monday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.



Photo: Shutterstock.

Management

Kroger Stock Is Sliding Monday: What's Going On?

Super Micro Computer Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) has finally filed its <a href="https://www.benzinga.com/quote/SMCI/news">long-awaited annual report</a>, and investors have plenty to digest. While the company is now in compliance with Nasdaq, the filing reveals several internal control issues, a significant customer shift, and mounting legal risks.



JPMorgan analyst Samik Chatterjee perused the details and maintained an &#8216;Underweight&#8217; rating on the stock.



<h2 class="wp-block-heading">Internal Controls: A Work In Progress</h2>



The auditors flagged "material weaknesses relative to internal controls over financial reporting." Among the concerns: the company failed to "properly identify, design, or implement general IT controls," had "inadequately designed" controls for segregation of duties, and lacked "proper documentation" in several financial areas. 



Super Micro's fix? The filing talks about bringing in more experienced personnel, enhancing IT systems, and ramping up training, notes Chatterjee. But with $18.6 million already spent addressing these deficiencies &#8211; and more costs expected &#8211; the road to remediation isn't cheap.



Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/44005208/nvidia-ai-juggernaut-rolls-on-but-can-arista-cisco-keep-up">Nvidia Dominance Continues As AI Demand Grows: Can Arista, Cisco Keep Up?</a>



<h2 class="wp-block-heading">A New Big Customer Emerges</h2>



Super Micro's latest numbers hint at a major shift in customer concentration. While one major customer has been contributing to around 20% of the company&#8217;s revenue in 2024, another — referred to as customer G (name note revealed) — is expected to gain significance in 2025.



This mystery customer is expected to account for 12% revenue contribution in the first quarter and 31% in the second quarter of 2025 (surpassing the existing major customer&#8217;s contribution), according to the company&#8217;s filing. 



The growing reliance on a few major buyers could be a game-changer for the company — whether for better or worse remains to be seen.



<h2 class="wp-block-heading">Inventory And Legal Risks Pile Up</h2>



Inventory levels have been fluctuating, with JPMorgan noting an expected drop from &#8220;$4.9 billion&#8230; to $3.6 billion&#8221; in the second quarter of 2025 according to the filing. Meanwhile, Super Micro recognized a "loss liability of $26.4 million" for unsold products already committed to. 



On the legal front, things aren't looking great either. The company is facing multiple lawsuits, including allegations of &#8220;breach of fiduciary duty, aiding and abetting breach of fiduciary duty, unjust enrichment, abuse of control, gross mismanagement, waste of corporate assets," notes Chatterjee. 



On top of that, there's an ongoing Department of Justice investigation, which JPMorgan warns could lead to financial penalties that Super Micro has yet to quantify.



<h2 class="wp-block-heading">Competitive Headwinds, ASP Risks</h2>



Export control regulations are another looming risk. New rules in January 2025 require "worldwide authorization for some of the company's advanced computing products." That means more red tape, competitive disadvantages, and uncertainty around international sales. 



Adding to the pressure, Super Micro acknowledged that its "increasing ASPs for server solutions" have been a key growth driver but flagged "volatility in component prices" and risks of commoditization that could weigh on future pricing power, according to Chatterjee.



Between internal control issues, a shifting customer base, regulatory challenges, and legal headwinds, Super Micro's latest annual report is anything but conclusive. 



With so many moving parts, investors will need to weigh whether the company's rapid growth can offset the risks outlined by JPMorgan's Chatterjee. 



For now, caution seems to be the name of the game.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/03/44070204/smci-co-founder-cashes-out-millions-in-stock-a-day-after-super-micros-delayed-filings">SMCI Co-Founder Cashes Out Millions In Stock A Day After Super Micro&#8217;s Delayed Filings</a></li>
</ul>



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Super Micro Earnings Reveal: Legal Risks Have 'Increased Materially', Mystery Customer & More

With its skyrocketing valuations and continued strength amid volatility, the S&amp;P 500 has risen 1.46% in 2025 following a 20% plus gain in 2023 and 2024. As experts predict an overdue correction, this analyst says the ongoing &#8220;sideways consolidation&#8221; over the last three months could be &#8220;corrective,&#8221; in nature.



What Happened: Last time the S&amp;P 500 experienced a correction, which is a decline of 10% or more from highs, was over a year ago in October 2023.



On an average, the markets have experienced at least one pullback in a year over the last 100 years, <a href="https://www.edwardjones.com/us-en/market-news-insights/stock-market-news/stock-market-weekly-update">says</a> the investment strategist at Edward Jones, Angelo Kourkafas, adding that &#8220;we may be overdue for one.&#8221;



However, he explains that the current &#8220;sideways&#8221; movement of prices over the last quarter could be serving as its &#8220;corrective&#8221; mechanism.



&#8220;More importantly, even if the current pullback turns into a correction, we don&#8217;t think it will progress into something worse, as there are no signs of either an economic downturn, a decline in corporate profits, or Fed rate hikes in the horizon,&#8221; he said.



The current landscape is marked by &#8220;known unknowns&#8221; stemming from policy uncertainty and trade concerns, Kourkafas explained.



President Donald Trump&#8216;s proposed policies on deregulation, tax cuts, and ongoing tariff negotiations have kept the financial market participants on their toes. These factors are likely to contribute to heightened market volatility in the coming months, said Kourkafas.



See Also: <a href="https://www.benzinga.com/25/03/44070799/mark-cuban-supports-trumps-new-gold-card-scheme-if-sold-to-corporations-for-employee-citizenship-have-a-look-at-the-listed-companies-with-most-number-of-immigrants">Mark Cuban Supports Trump&#8217;s New &#8216;Gold Card&#8217; Scheme If Sold To Corporations For Employee Citizenship: Here&#8217;re The Listed-Companies With Most Number Of Immigrants</a>



Why It Matters: According to Kourkafas, to navigate these swings, investors should consider rebalancing their portfolios and implementing dollar-cost averaging strategies, which can capitalize on price fluctuations.



He further emphasized on how the market leadership is broadening, with a shift away from U.S. large-cap, tech, and growth investments towards cyclical, value-style, and international equities.



&#8220;A focus on balance and diversification can potentially better help weather short-term dips, which over the long term are nearly impossible to avoid. We maintain the view that equities have the potential to build on last year&#8217;s strength, though with more moderate gains and higher volatility as market leadership continues to evolve,&#8221; he said.



Meanwhile, other experts like Howard Marks, who famously predicted the dot-com crash, have also <a href="https://www.benzinga.com/markets/equities/25/01/42995814/billionaire-investor-who-predicted-the-dot-com-crash-25-years-ago-warns-of-another-market-storm-brewing-in-the-us">cautioned against the formation of a bubble</a> in the market. In his memo dated Jan. 7, Marks points to several "cautionary signs" in the current market, including soaring valuations, AI hype, and heavy reliance on mega-cap tech stocks.



Marks also underscored research from JP Morgan Asset Management showing that high valuations like today's often precede lackluster returns over the following decade.



See Also: <a href="https://www.benzinga.com/25/03/44070216/billionaire-investor-howard-marks-warns-against-ais-powerful-novelty-and-fomo-as-nvidia-other-ai-linked-stocks-tumble-in-2025-this-is-the-kind-of-enthusiasm-that-sometimes-leads-to-bubbles">Billionaire Investor Howard Marks Warns Against AI&#8217;s &#8216;Powerful&#8217; Novelty And FOMO As Nvidia, Other AI-Linked Stocks Tumble In 2025: Says This Enthusiasm &#8216;Sometimes Leads To Bubbles&#8217;</a>



Price Action: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose in premarket on Monday. The SPY was up 0.34% to $596.18, and the QQQ also advanced 0.55% to $510.88, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



On Friday, the SPY closed up 1.56% to $594.18, and the QQQ advanced 1.56% to end at $508.10.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/03/44071203/tesla-falls-nearly-23-destroying-354-billion-of-investor-wealth-in-2025-its-only-going-to-get-worse-says-top-investor">Tesla Falls Nearly 23% Destroying $354 Billion Of Investor Wealth In 2025: &#8216;It&#8217;s Only Going To Get Worse,&#8217; Says Top Investor</a></li>
</ul>



Image Via Shutterstock

S&P 500 Correction 'Overdue:' Will The Market's 'Sideways' Movement Turn Into A Tumble? 'Focus On Balance And Diversification,' Says Analyst

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and altcoins rallied sharply after President Trump's surprise announcement of a <a href="https://www.benzinga.com/25/03/44068814/bitcoin-ethereum-dogecoin-rally-on-trumps-strategic-crypto-reserve-announcement-cardano-xrp-solana-skyrocket-analyst-says-btcs-new-ath-possible-later-in-the-month">U.S. crypto strategic reserve</a>.



What Happened: In an <a href="https://x.com/EricTrump/status/1896389993548931201">X</a> post on Monday, Eric Trump praised the timing of his father&#8217;s announcement, calling it a shift in financial dynamics that finally gives retail investors a leg up. 



He said that traditional financial markets are closed on Sundays, allowing retail investors to bank a &#8220;win.&#8221; 



Eric Trump warned that if traditional finance fails to adapt to the new reality of the world no longer running on a Monday to Friday &#8220;nine to five,&#8221; it risks becoming obsolete.



The reserve will reportedly hold Bitcoin, Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), and Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>).



Reaction to Eric Trump&#8217;s post were mixed, with Strategy executive chairman Michael Saylor saying, &#8220;Bitcoin never sleeps,&#8221; while trader David Gokhshtein seemed to agree with the president&#8217;s son that retail was "finally getting a chance to win."



Also Read<a href="https://in.benzinga.com/25/03/44070857/coinbase-ceo-brian-armstrong-thinks-having-a-bitcoin-only-crypto-reserve-best-option-while-arthur-hayes">: Coinbase&#8217;s Brian Armstrong Thinks Having A Bitcoin-Only Crypto Reserve &#8216;Best Option&#8217; While Arthur Hayes Says Trump&#8217;s Announcement Insignificant Until Congressional Approval</a>



Why It Matters: The global cryptocurrency market capitalization spiked 6.9% to $3.04 trillion after Trump's announcement pushing Bitcoin above the $90,000 mark.



In an emailed statement to Benzinga, MEXC Chief Operating Officer Tracy Jin noted that Trump&#8217;s crypto reserve announcement comes at a critical time, as market sentiment had been turning bearish. 



She highlighted that strategic reserves have historically driven demand, citing past price surges in gold and oil. In 2024, institutional and central bank interest in gold pushed prices higher by 26%.



Jin cautioned that Trump may simply be testing market reaction before committing to concrete steps, suggesting this could be an artificial pump. 



Key uncertainties remain, including the reserve&#8217;s size, how liquidity will be sourced, whether Congress will approve the plan, and how it will be executed. 



While the market has reacted positively, investors now await clarity on the reserve&#8217;s actual implementation.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/44050992/the-real-reason-why-bitcoin-is-down-14-in-7-days-and-may-go-down-more">The Real Reason Why Bitcoin Is Down 14% In 7 Days (And May Go Down More)</a></li>
</ul>



Image: Shutterstock

Eric Trump Says Timing Of Strategic Bitcoin, XRP, Cardano Reserve Announcement Was A 'Win' For Retail Investors

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