The European Union is bracing for potential 20% tariffs from the Trump administration as the April 2 deadline for <a href="https://www.benzinga.com/topic/tariffs">&#8220;reciprocal&#8221; trade measures looms. </a>



The <a href="https://www.ft.com/content/c5d9a416-16d7-410e-96a5-cdfe1dc02a62">Financial Times reported </a>Wednesday that Maroš Šefčovič, the European Commissioner for Trade and Economic Security, warned that the U.S. may slap 20% tariffs on European Union products starting April 2, with no exemptions for any of the bloc's 27 member states.



According to two people briefed on the talks, Šefčovič said that while the final contours of the U.S. trade plan remain unclear, the scale of tariffs discussed would be around 20%—a level that would mark the highest U.S. tariffs on the EU since the bloc's founding members initiated a common trade policy in the late 1950s.



Šefčovič said such tariffs would be "devastating" for Europe's economy, which is already grappling with weak growth and elevated inflation.



President Donald Trump declared that April 2 would be "Liberation Day," a symbolic moment when "reciprocal" tariffs would be introduced against trading partners accused of taking advantage of low U.S. trade barriers.



Šefčovič said the EU would respond in kind, potentially triggering a new round of retaliatory tariffs. The bloc&#8217;s trade office has not confirmed what countermeasures are being considered, but Brussels has previously targeted U.S. agriculture, tech and spirits during past disputes.



On Wednesday, Trump also said that new tariffs on imported automobiles would be unveiled.



Markets React, But Seasonality Could Offer Support



Following the tariff threat, iShares Europe ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEV#NYSE">IEV</a>), which tracks major European equities, fell 1.4% on Wednesday, marking a two-week low. 



Shares of luxury German automaker Mercedes Benz Group AG (OTCPK: MBGAF) plummeted over 4%, eyeing the worst session since November 6, 2024, when they tumbled in reaction to Donald Trump&#8217;s election victory.



Similarly, Germany&#8217;s biggest automaker, Volkswagen AG (OTCPK: VWAGY), witnessed a 3% drop.



Yet, the selloff may not necessarily trigger a prolonged downtrend, especially for traders looking at seasonality-related strategies. 



April has historically brought a tailwind for European stocks. Over the last 25 years, IEV has posted an average gain of 3.2% in April – the most than in any other month – with positive performance in 71% of those years. The strongest April on record came in 2003, when the ETF soared 14.1%.



The SPDR DJ Euro STOXX 50 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FEZ#NYSE">FEZ</a>)—another benchmark for Eurozone blue chips—has delivered an average April return of 2.9%, ending the month in the green 73% of the time.



Read now: 



<ul>
<li><a href="https://www.benzinga.com/etfs/sector-etfs/25/03/44495583/these-4-sp-500-sectors-could-outperform-the-market-in-april-if-history-has-a-say">These 4 S&amp;P 500 Sectors Could Outperform The Market In April, If History Has A Say</a></li>
</ul>



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Trump May Slap A 20% Tariff On EU, Yet April Still Offers Rally Hopes For European Stocks

April tends to be a favorable month for U.S. equities, and history makes a compelling case for this. Over the past 95 years, the S&amp;P 500 has gained an average of 1.1% in April, finishing <a href="https://www.benzinga.com/markets">higher 61% of the time.</a>



In April, the index notched some of its most powerful monthly rallies in history, surging 43.6% in April 1933 and 17.9% in April 2020. Yet, it&#8217;s not always been a smooth ride — the worst April returns were a 20% crash in 1932 and a 9.5% drop in 1970.



Zooming in on the past three decades, April's track record becomes even more convincing. 



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), the benchmark ETF tracking the S&amp;P 500, delivered an average gain of 1.9% over the last 30 Aprils, making it the second-best month of the year after November. SPY ended April in the green 77% of the time.



That said, 2025 has started on a cautious note. Through March 26, the S&amp;P 500 is down about 3% year-to-date. 



Yet history suggests a seasonal tailwind could soon be at play — especially in four specific sectors that have consistently outperformed the broader market in April.



<h3 class="wp-block-heading">Financials (XLF): Banks Lead The Earnings Charge</h3>



The Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) has historically been April&#8217;s top-performing sector. 



Since its inception in 1999, XLF has risen an average of 2.7% during the month, with gains coming in 65% of the time. The seasonal strength is largely tied to the first-quarter earnings season, which kicks off in April and is typically led by major banks. Optimism surrounding annual earnings outlooks often provides a boost.



XLF has already outperformed the broader market in 2025, gaining 4.5% year-to-date. Within the sector, JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) stands out: Over the past 45 years, JPM shares have climbed an average of 2.6% in April, delivering positive returns 68% of the time.



<h3 class="wp-block-heading">Consumer Discretionary (XLY): Big Tech Retailers Deliver Spring Strength</h3>



The Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) also posted a strong seasonal performance, rising 2.4% on average in April over the last 26 years. It has a 65% winning rate during the month.



April is historically the best month for Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), with an average gain of 7.6% and a 70% success rate. 



Likewise, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) tends to accelerate this time of year, with April returns averaging 5.9%, making it the second-strongest month for the electric vehicle maker, behind only November's 11.9% surge.



<h3 class="wp-block-heading">Materials (XLB): A Solid Spring For Commodities And Chemicals</h3>



The Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) also delivered strong April sector performers. XLB has risen an average of 3.1% in April over the past 26 years, with a 65% win rate. The ETF is up about 3% year-to-date, suggesting some early momentum heading into April.



One heavyweight in the materials space, Linde plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LIN#NYSE">LIN</a>) — which represents roughly 20% of XLB's holdings — has consistently delivered in April. With 32 years of historical data, Linde has averaged a 3.5% gain in the month and ended April in positive territory 69% of the time.



<h3 class="wp-block-heading">Energy (XLE): The Strongest April Performer</h3>



Energy stocks have historically delivered the most robust gains in April, with the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) averaging a 4.1% return and closing the month higher 62% of the time. 



Yet, it&#8217;s worth noting that this impressive figure is skewed by an extraordinary rebound in April 2020, when XLE surged nearly 30% following a historic 35% plunge in March 2020 — a period marked by collapsing oil prices and pandemic-driven market chaos. 



Looking at long-term leaders within the sector, Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) shares have gained an average of 2.7% in April over the past 40 years, while Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) performed slightly better, rising 3.1% on average over the same period. 



Below is a table showing each sector&#8217;s average performance in April.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><thead><tr><th>ETF</th><th>Avg. April Return (%)</th></tr></thead><tbody><tr><td>Real Estate&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>)</td><td>0.4%</td></tr><tr><td>Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)</td><td>1.2%</td></tr><tr><td>Consumer Staples&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>)</td><td>1.2%</td></tr><tr><td>Health Care&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>)</td><td>1.6%</td></tr><tr><td>SPDR S&amp;P 500 ETF Trust&nbsp;</td><td>1.9%</td></tr><tr><td>Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>)</td><td>1.95%</td></tr><tr><td>Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>)</td><td>2.4%</td></tr><tr><td>Consumer Discretionary&nbsp;Select Sector SPDR Fund</td><td>2.4%</td></tr><tr><td>Industrials&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>)</td><td>2.6%</td></tr><tr><td>Financial Select Sector SPDR Fund </td><td>2.7%</td></tr><tr><td>Materials&nbsp;Select Sector SPDR Fund </td><td>3.1%</td></tr><tr><td>Energy&nbsp;Select Sector SPDR Fund</td><td>4.07%</td></tr></tbody></table></figure>



Read now: 



<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/03/44483044/want-to-buy-stocks-in-2025-theres-one-conflicting-place-to-find-winners">Want To Buy Stocks In 2025? There&#8217;s One Conflicting Place To Find Winners, Analyst Says</a></li>
</ul>



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Sector ETFs

AMZN

TSLA

XLRE

These 4 S&P 500 Sectors Could Outperform The Market In April, If History Has A Say

Bitwise Asset Management chief investment officer Matthew Hougan says the firm is "extraordinarily bullish" on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) as the cryptocurrency gains widespread acceptance from governments, corporations and traditional <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44194484/congressman-on-digital-assets-subcommittee-buys-bitcoin-etf-before-trumps-strategic-reserve-announcement">asset managers.&nbsp;</a>



What To Know: Hougan sat down with Benzinga at the Future Proof Citywide <a href="https://futureproofhq.com/">event</a> in Miami Beach, FL last week and talked about the importance of a crypto-friendly administration and President Donald Trump's recent announcement of a strategic bitcoin reserve. 



The last existential threat to bitcoin was removed when governments began accepting and adopting the cryptocurrency as an asset, Hougan said. 



Read Next: <a href="https://www.benzinga.com/news/global/25/03/44494896/us-adds-50-chinese-entities-to-export-restriction-list-curtailing-access-to-nvidia-amd-chips">US Adds 50 Chinese Entities To Export Restriction List Curtailing Access To Nvidia, AMD Chips</a>



"We see governments around the world buying it. Do you wanna wait til it&#8217;s too late to get in, or do you want to build your position now? The reason it&#8217;s important for crypto investors is the biggest existential risk to crypto has always been that governments wouldn&#8217;t like it, right?," Hougan told Benzinga.&nbsp;



The chief investment officer said that the bitcoin of today has matured and become legitimized and accepted in a way it was not even five or 10 years ago. He pointed to institutional investors, hedge funds, ETFs and more than 70 corporations that now keep bitcoin as part of their holdings. 



Bitwise designed the Bitwise Bitcoin Standard Corporations ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OWNB#NYSE">OWNB</a>) that provides exposure to corporations with at least 1,000 bitcoin on their balance sheets.



"BlackRock is in the space. Fidelity is in the space. Stan Druckenmiller owns bitcoin. Ray Dalio owns bitcoin. The United States owns bitcoin," Hougan said. 



Hougan said that though the short-term outlook for bitcoin is risky, he sees the influx of capital eventually pushing bitcoin to $200,000 in the long run.&nbsp;



"Short term: risky. Long term: extraordinarily bullish," Hougan said, sharing Bitwise's current outlook for bitcoin.&nbsp;



Read More:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/news/global/25/03/44477467/trumps-tariffs-on-buyers-of-venezuelan-oil-could-boost-energy-sector-exxon-mobil-stock">Trump&#8217;s Tariffs On Buyers Of Venezuelan Oil Could Boost Energy Sector, Exxon Mobil Stock&nbsp;</a></li>
</ul>



Image: Benzinga

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OWNB

EXCLUSIVE: Bitwise Sees Bitcoin Reaching $200,000, CIO Says Firm Is 'Extraordinarily Bullish'

U.S. stocks declined on Wednesday, with all major indices in the red by midday in New York, as renewed concerns <a href="https://www.benzinga.com/topic/tariffs">over tariffs rattled investors.</a>



President Donald Trump signaled that new trade duties on automobiles could be announced as early as today, while market participants are also bracing for April 2, which marks the start of reciprocal tariffs.



Technology shares, particularly semiconductor stocks, led the selloff, dragging the Nasdaq 100 sharply lower and trimming much of its weekly gains. Shares of Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) tumbled 5.9%, on track for the worst daily loss since early March, as investors fear further restrictions on chip exports to China. The iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) fell 3.4%. 



Meanwhile, blue-chip stocks in the Dow Jones Industrial Average were more resilient, supported by strength in the energy and consumer staples sectors. The CBOE Volatility Index (VIX), Wall Street's so-called "fear gauge," jumped 8% to 18.9.



The dollar and Treasury yields remained flat, reflecting a wait-and-see stance in the bond market amid uncertainty over the broader economic impact of potential tariffs.



In commodities, crude oil rose 1.4%, extending weekly gains to 2.5%—on track for its best week since early January—after a surprise drop in commercial inventories. Metals held steady, with copper holding record highs.



Bitcoin slipped 1% to $86,500 following a flat close the previous day.



<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>Chg %</td></tr><tr><td>Dow Jones</td><td>42,552.19</td><td>-0.1%</td></tr><tr><td>Russell 2000</td><td>2,078.48</td><td>-0.9%</td></tr><tr><td>S&amp;P 500</td><td>5,720.71</td><td>-1.0%</td></tr><tr><td>Nasdaq 100</td><td>19,980.84</td><td>-1.5%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated at 1:00 p.m. ET</figcaption></figure>



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



<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 1% to $569.92.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) inched 0.2% lower to $424.78.</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;dropped 1.7% to $485.01.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) also fell 1% to $205.59</li>



<li>The&nbsp;Consumer Staples&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) outperformed, up 1.3%; the&nbsp;Technology&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) was the worst sector performer, down 2.1%.</li>
</ul>



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



<ul>
<li>GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) skyrocketed 15% in reaction to stronger-than-expected quarterly earnings. The retailer eyes its strongest one-day gain since June 2024. </li>



<li>Other stocks reacting to earnings reports were Cintas Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTAS#NYSE">CTAS</a>), up 6.5%, Paychex Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>), up 4.8%, Dollar Tree Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>), up 4.9%, and Chewy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>), up 1.5%. </li>
</ul>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/federal-reserve/25/03/44493432/elevated-consumer-inflation-expectations-raise-the-bar-for-possible-rate-cuts-this-year-goldman-sachs">Elevated Consumer Inflation Expectations &#8216;Raise The Bar For Possible Rate Cuts This Year&#8217;: Goldman Sachs</a></li>
</ul>



Photo: Shutterstock

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Broad U.S. Equity ETFs

CHWY

CTAS

DLTR

NVDA

PAYX

SOXX

Stocks Slip As Tariff Fears Resurface: What's Driving Markets Wednesday?

Fintech Block Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XYZ#NYSE">XYZ</a>) is the latest company to announce a <a href="https://www.benzinga.com/topic/layoffs">series of layoffs</a> with 931 people, or around 8% of the company laid off in the latest round.



Company co-founder and CEO Jack Dorsey sent a letter to employees on the latest news. Here's what Dorsey had to say.



What Happened: Dorsey laid out the facts and reasons why the job cuts were happening, while also ensuring employees that jobs were not being replaced<a href="https://www.benzinga.com/topic/artificial-intelligence"> by artificial intelligence.</a>



"Today we'll be making some org changes, including eliminating roles and beginning the consultation process in countries where required. I want to give you all the straight facts," Dorsey said in the email, which was obtained by <a href="https://techcrunch.com/2025/03/25/read-the-email-jack-dorsey-sent-when-he-cut-931-of-blocks-staff/">TechCrunch</a>.



Benzinga reached out to Block for comment.



Dorsey laid out the three main areas in his letter being strategy, performance and hierarchy. The letter lays out why some teams are being reduced and how some employees with poor performance were let go.



The job cuts totaled as follows:



<ul>
<li>Strategy: 391 people</li>



<li>Performance: 460 people</li>



<li>Hierarchy: 80 managers</li>
</ul>



Block is also closing the majority of its 748 job openings, keeping only some key leadership and critical operational roles open.



"None of the above points are trying to hit a specific financial target, replacing folks with AI, or changing our headcount cap. They are specific to our needs around strategy, raising the bar and acting faster on performance, and flattening our org so we can move faster with less abstraction."



Dorsey said the large number of job cuts was happening at once because the company is "behind in our actions."



"When we know, we should move, and there hasn't been enough movement. We need to move to help us meet and stay ahead of the transformational moment our industry is in."



Read Also: <a href="https://www.benzinga.com/news/earnings/25/02/43867724/block-shares-sink-after-q4-revenue-miss-ceo-jack-dorsey-expects-to-end-year-at-rule-of-40-run-rate">Block Shares Sink After Q4 Revenue Miss, CEO Jack Dorsey Expects To End Year &#8216;At Rule Of 40 Run Rate&#8217;</a>



Why It's Important: Dorsey said his job is to increase the value of the company.



"We believe this will help us focus and execute better to do just that," Dorsey said.



Dorsey called the job cuts the "toughest part" of his job.



The Block co-founder said he's open to direct feedback and encouraged employees to email him if there are areas the company could do better.



"Thank you to all those leaving us. I am grateful and appreciative for you and your work, which has built us up to this point. We will continue to honor that by increasing our value to our customers, and therefore to all of our shareholders, including you."



Block previously cut around 1,000 jobs in January 2024. At the end of 2024, the company had around 11,300 employees.



While Dorsey likely never meant for his letter to reach the public, the words dig into the reasoning behind the cuts and the company&#8217;s efforts to play catch-up in some areas if it feels it is behind.



XYZ Price Action: Block stock is down 1.6% to $60.32 on Wednesday versus a 52-week trading range of $53.54 to $99.26. Block stock is down 29% year-to-date in 2025.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/03/44299872/jack-dorseys-block-first-us-company-to-deploy-nvidias-ai-cluster-predicts-30x-performance-boost">Jack Dorsey&#8217;s Block First US Company To Deploy Nvidia&#8217;s AI Cluster, Predicts 30x Performance Boost</a></li>
</ul>



Photo: Shutterstock

Management

Tech

Trading Ideas

Jack Dorsey Says Block Not 'Replacing Folks With AI' In Letter Explaining 900+ Job Cuts

Recent spikes in consumer inflation expectations are threatening to narrow the Federal Reserve's room to maneuver to further reduce interest rates this year, casting new uncertainty over whether cuts <a href="https://www.benzinga.com/news/econ-s">will materialize this year.</a>



In a note shared this week, Goldman Sachs analyst Elsie Peng discussed recent data showing a notable rise in survey-based inflation forecasts and why the Federal Reserve might have to tread carefully despite softening economic conditions.



See Also: <a href="https://www.benzinga.com/government/regulations/25/03/44492183/cfos-increasingly-alarmed-over-tariffs-as-business-confidence-wavers-15-say-they-are-concerned-about-duties-in-q1">CFOs Increasingly Alarmed Over Tariffs As Business Confidence Wavers: 15% Say They Are &#8216;Concerned&#8217; About Duties In Q1</a>



<h3 class="wp-block-heading">What&#8217;s Driving Inflation Expectations Higher?</h3>



The University of Michigan&#8217;s closely watched Survey of Consumers revealed a jump in year-ahead inflation expectations to 4.9% in March, up from 4.3% in February. That's the highest reading since November 2022. 



Longer-term expectations, tracking perceived inflation over five to ten years, climbed to 3.9% — a level not seen since 1993.



These figures are particularly concerning because they suggest consumers are not just reacting to short-term price pressures but may be bracing for a more structurally persistent inflation regime. Elevated inflation expectations can become self-fulfilling, as households and businesses adjust behavior in anticipation of future price increases.



It's not just the Michigan survey flashing red. The Conference Board's Consumer Confidence Index, released Tuesday, showed inflation expectations rising from 5.8% to 6.2% in March.



Yet Federal Reserve Chair Jerome Powell, speaking after the March Federal Open Market Committee (FOMC) meeting, downplayed the Michigan <a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44331170/us-consumer-confidence-plunges-as-inflation-fears-hit-highest-level-since-1993">results, calling them an "outlier." </a>



Still, there&#8217;s more nuance under the hood.



<h3 class="wp-block-heading">Are Political Biases, Tariffs Distorting The Data?</h3>



Peng said that recent survey results are being distorted by sampling changes and political polarization.



Last year, the University of Michigan switched from a phone-based to an online format, resulting in a greater share of extreme responses.



This shift, combined with how survey medians are calculated, has skewed results toward more extreme inflation views, especially amid news of new tariffs.



"Inflation expectations have become extremely partisan," she said, adding that expectations tend to rise when a respondent's opposing party is in power.



Adjusting for these factors, Goldman Sachs estimates that the 1-year inflation expectation for March should be closer to 3.6% rather than 4.9%, and the 5-10-year expectation should be 3.3% instead of 3.9%.



Even so, Peng said that "these adjusted expectations are still meaningfully higher than late last year," reinforcing the idea that consumers are genuinely rattled by tariff news and persistent inflation in essential categories like food and energy.



Investors who turned to traditional inflation hedges like Treasury inflation-protected securities, tracked by the iShares TIPS Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TIP#NYSE">TIP</a>), or gold, tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), would have seen year-to-date gains of 3% and 14% respectively, in contrast to a 3% decline in the broader S&amp;P 500 index.



<h3 class="wp-block-heading">What This Means For The Fed's Rate Path</h3>



Goldman's analysis adds another layer to the growing debate over how much room the Fed really has to ease policy this year. 



According to Fed funds futures, markets expect at least three rate cuts in 2024. However, persistently high inflation expectations—even if somewhat overstated—make it harder for the central bank to justify easing unless economic data deteriorate sharply.



"High inflation and high survey-based inflation expectations raise the bar for possible rate cuts this year," Peng said.



Yet, she also added that if economic growth slows enough, Fed officials would still likely proceed with cuts — particularly if market-based inflation expectations remain well-anchored.



In such a scenario, officials could take the same stance they held during the first trade war in 2019: temporary inflation bumps related to tariffs don't pose long-term risks if broader demand weakens.



Based on the latest dot plot, the Federal Reserve projected two additional rate cuts for 2025.



Betting markets on the CFTC-regulated platform Kalshi now reflect expectations for two rate cuts, a shift down from earlier projections of three cuts earlier this month.



<iframe loading="lazy" src="https://kalshi.com/external-widgets/events/KXRATECUTCOUNT-25DEC31?color_scheme=light&#038;widget_size=large&#038;utm_campaign=benzinga_widget" width="552px" height="400px" style="border:0"></iframe>



Read now: 



<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/03/44475192/consumer-confidence-falls-to-lowest-since-2022-as-inflation-tariff-worries-grow">Consumer Confidence Falls To Lowest Since 2022 As Inflation, Tariff Worries Grow</a></li>
</ul>



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Federal Reserve

Elevated Consumer Inflation Expectations 'Raise The Bar For Possible Rate Cuts This Year': Goldman Sachs

Dollar Tree Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) shares are <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">trading higher in premarket</a> after the fourth-quarter FY24 earnings.



On Wednesday, the company reported fourth-quarter sales of $8.26 billion, <a target="_blank" href="https://www.benzinga.com/pressreleases/25/03/b44489886/dollar-tree-inc-reports-results-for-the-fourth-quarter-fiscal-2024" rel="noreferrer noopener">beating the analyst consensus estimate of $8.24 billion.</a>



Adjusted EPS of $2.29 also beat the <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">consensus estimate of $2.19.</a>



The revenue and adjusted EPS data includes the discontinued operations of Family Dollar. All the other data excludes Family Tree operations.



Dollar Tree reached an agreement today, under which Brigade Capital Management, LP (Brigade) and Macellum Capital Management, LLC (Macellum) will partner to <a target="_blank" href="https://www.benzinga.com/pressreleases/25/03/b44489868/dollar-tree-announces-agreement-to-divest-its-family-dollar-business-to-brigade-capital-management" rel="noreferrer noopener">acquire the company&#8217;s Family Dollar</a> business segment for $1.007 billion.



Following an extensive evaluation of various options for the Family Dollar segment, the leadership team and Board of Directors at Dollar Tree concluded that selling Family Dollar to Brigade and Macellum would create the greatest value for Dollar Tree shareholders and set Family Dollar up for long-term success.



Also Read: <a target="_blank" href="https://www.benzinga.com/25/03/44475168/cognizant-partners-with-nvidia-to-enhance-enterprise-operations-with-neuro-ai-platform" rel="noreferrer noopener">Cognizant Boosts Stock Buyback, Partners With NVIDIA To Enhance Enterprise Operations With Neuro AI Platform</a>



Net proceeds from the sale are estimated to total approximately $804 million.



Same-store sales increased 2% for the Dollar Tree segment, and the sales gained 0.7% on a continuing operations basis.



Gross profit for the quarter decreased 2.8% Y/Y to $1.9 billion, and the gross margin contracted 130 basis points to 37.6%.



Operating income for the quarter plunged 26.5% to $533.6 million, and the margin contracted 390 basis points to 10.7%.&nbsp;



The company held $1.25 billion in cash and equivalents as of February 1. Operating cash flow for the year totaled $2.2 billion with a free cash flow of $893 million, based on continuing operations.



The company opened 33 new Dollar Tree&nbsp;stores in the quarter, bringing full-year openings to 525. Dollar Tree repurchased 3.3 million shares for&nbsp;$403.6 million, including applicable excise tax.



&#8220;In the fourth quarter, our team was focused on successfully closing out the year, bringing the strategic review to a favorable conclusion, and setting Dollar Tree on a path to realize its full potential to create long-term value for our associates, customers, and shareholders,&#8221;&nbsp;said CEO Mike Creedon.



Outlook: Dollar Tree sees FY25 sales from continuing operations of $18.5 billion &#8211; $19.1 billion. Same store sales growth of 3% &#8211; 5%. The company anticipates FY25 adjusted <a href="https://www.benzinga.com/calendars/guidance">EPS from continuing operations of $5.00 &#8211; $5.50.</a>



Dollar Tree&nbsp;sees first-quarter revenue from continuing operations&nbsp;of $4.5 billion &#8211; $4.6 billion. Same store sales growth of 3% &#8211; 5%. The company expects first-quarter adjusted EPS of $1.10 &#8211; $1.25.



Price Action: DLTR shares traded higher by 3.10% at $69.22 in premarket at last check Wednesday.



Read Next:



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Earnings

Guidance

Asset Sales

Movers

General

Dollar Tree To Offload Family Dollar Business For $1 Billion, Anticipates 3% To 5% Standalone Same-Store Sales Growth

Geopolitical tensions between Washington and Beijing continue to intensify regarding access to <a target="_blank" href="https://www.benzinga.com/topic/artificial-intelligence" rel="noreferrer noopener">artificial intelligence and</a> other advanced semiconductor technology.



The U.S. had imposed multiple semiconductor embargoes on China, restricting the latter&#8217;s exposure to cutting-edge technology from Nvidia Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>). The move is followed by China&#8217;s retaliation.



China has introduced energy efficiency rules for using advanced chips that would prevent Chinese companies from buying Nvidia&#8217;s tweaked processors, the Financial Times <a target="_blank" href="https://www.ft.com/content/6a2c54fe-e2b7-4c58-907d-68076456d907" rel="noreferrer noopener">reported</a>, citing documents they reviewed.



Also Read: <a target="_blank" href="https://www.benzinga.com/government/regulations/25/02/44006332/nvidia-faces-new-ai-chip-challenge-as-huawei-gains-ground-in-china-despite-us-sanctions" rel="noreferrer noopener">Nvidia Faces New AI Chip Challenge As Huawei Gains Ground In China Despite US Sanctions</a>



China&#8217;s National Development and Reform Commission urged Chinese groups to use tailor-made chips in new data centers and expansion of existing facilities.



According to the report, Nvidia&#8217;s tailor-made chip for China, H20, failed to comply with the commission&#8217;s new rules.



Reportedly, the Chinese regulator has passively urged Alibaba Group Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), ByteDance, and Tencent Holding (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) against procuring H20 chips, signifying a threat to Nvidia&#8217;s $17 billion annual business in the country. China is Nvidia&#8217;s fourth-largest market.



Reportedly, Nvidia is eying a meeting between its senior executives and commission chair Zheng Shanjie. Also, Nvidia is ready with a solution to adjust H20 chips to meet the NDRC norms.



Tech powerhouses from Alibaba to Tencent aggressively ramped up their orders for H20 chips this year after DeepSeek launched its efficient reasoning model.



Reportedly, Huawei Technologies Co <a target="_blank" href="https://www.benzinga.com/media/25/03/44488569/chinas-huawei-reportedly-doubles-ai-chip-yields-to-40-now-nvidia-ceo-jensen-huang-warns-that-the-chinese-tech-giant-is-the-most-formidable-competitor-despite-us-sanctions" rel="noreferrer noopener">doubled the yield rate</a> on its latest AI chips from around 20% a year ago to&nbsp;~40% now. Huawei&#8217;s revenue grew by 22% in 2024, reaching 860 billion yuan ($118.27 billion).



In February, Nvidia reported <a target="_blank" href="https://www.benzinga.com/news/earnings/25/02/43991607/nvidia-q4-earnings-highlights-revenue-beat-eps-beat-demand-for-blackwell-is-amazing" rel="noreferrer noopener">fourth-quarter revenue</a> of $39.3 billion, up 78%, beating a Street consensus estimate of $38.05 billion.



Nvidia expects first-quarter revenue of $43.0 billion, +/—2%, ahead of a street consensus estimate of $41.75 billion.



Price Action: NVDA stock is down 1.83% at $118.47 premarket at last check Wednesday.



Also Read:



<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/03/44330619/tesla-bets-on-low-cost-evs-in-china-after-february-sales-hit-two-year-low" target="_blank" rel="noreferrer noopener">Tesla Bets On Low-Cost EVs in China After February Sales Hit Two-Year Low</a></li>
</ul>



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Asia

Emerging Markets

Media

BABA

TCEHY

In Geopolitical Chess, China's Latest Energy Norms Block Nvidia's Chip Strategy Amid US Sanctions

Popular dog-themed cryptocurrency Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) is trading at one-month highs on Wednesday morning amid a broader jump in <a href="https://www.benzinga.com/money/shiba-inu-price-prediction">risk-on sentiment for meme coins</a>.



What Happened: SHIB soared over 14% in the last 24 hours to a market capitalization of over $9 billion. 



The coin sailed to an intraday high of $0.00001561, a level last seen on Feb. 23, before reversing slightly due to profit-taking.



SHIB&#8217;s trading volume jumped 108% to $453 million, making it one of the most traded cryptocurrencies in the last 24 hours.



Whale interest in the coin soared, with large transactions valued at over $100,000 surging by 72% over the previous day, <a href="https://app.intotheblock.com/">according</a> to IntoTheBlock. 



Moreover, the total balance held by long-term holders rose 0.02% over the last 24 hours, suggesting that accumulation was going on.



Speculation also increased in the derivatives market. The open interest in SHIB futures contracts spiked 33% to levels last seen more than a month ago, <a href="https://www.coinglass.com/BitcoinOpenInterest">as per</a> Coinglass.



This meant more liquidity in the market and a potential for higher volatility in the days ahead.



Why It Matters: World Of Charts, a widely followed X account dedicated to cryptocurrency analysis, noted SHIB&#8217;s attempts to break out of the descending channel pattern, projecting a twofold jump if it succeeded. 



A descending channel is formed by two downward-sloping trendlines, indicating a bearish trend. However, a potential breakout from the upper trendline could signal a reversal.



<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/search?q=%24Shib&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$Shib</a> <a href="https://twitter.com/hashtag/Shib?src=hash&amp;ref_src=twsrc%5Etfw">#Shib</a> Breaking Descending Channel Range, Successful Breakout Could Lead Solid Rally In Coming Days, Expecting 2x After Successful Breakout. <a href="https://t.co/V0YNZAI80m">pic.twitter.com/V0YNZAI80m</a>&mdash; World Of Charts (@WorldOfCharts1) <a href="https://twitter.com/WorldOfCharts1/status/1904835994118938880?ref_src=twsrc%5Etfw">March 26, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/03/44487309/jim-cramer-applauds-gamestop-for-acting-on-his-bitcoin-ploy-as-apex-crypto-barely-moves-after-his-remark">Jim Cramer Applauds GameStop For Acting On His &#8216;Bitcoin Ploy,&#8217; CEO Ryan Cohen Can&#8217;t Help But React</a>



The overall meme coin market capitalization soared 10% to $59.11 billion in the last 24 hours, with other marquee coins such as Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>) also netting returns of 10% and 15.20%, respectively, in the last 24 hours.



Price Action:&nbsp; At the time of writing, SHIB was exchanging hands at $0.00001540, up 14.30% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. Year-to-date, the meme coin has tanked 27%.



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/25/03/44486921/xrp-outshines-bitcoin-ethereum-with-17-ytd-gains-as-trump">XRP Has Outshone Bitcoin, Ethereum This Year With Impressive 17% YTD Gains — Will It Reclaim The Third-Largest Crypto Spot?</a></li>
</ul>



Image: Shutterstock

$DOGE

$PEPE

$SHIB

Shiba Inu Hits A 1-Month High As Meme Coin Market Explodes—Will The Dog-Themed Crypto Chart Another 2X Jump?

U.S. stock futures were trading lower on Wednesday, after advancing for three consecutive sessions. Futures of major benchmark indices were lower in premarket trading.



Investors are reacting cautiously to President Donald Trump&#8216;s mixed tariff signals. While stocks rallied on hints of potential duty reductions, Trump also announced impending tariffs on pharma and auto, along with secondary tariffs on Venezuelan oil and gas buyers. The volatility reflects the market&#8217;s sensitivity to the administration&#8217;s fluctuating trade stance.



The 10-year Treasury yield stood at 4.33%, while the two-year yield was at 4.02%. According to the CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>, there is an 88.4% chance that the Federal Reserve will keep the interest rates unchanged during its May meeting. 



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Nasdaq 100</td><td>-0.15%</td></tr><tr><td>S&amp;P 500</td><td>-0.12%</td></tr><tr><td>Dow Jones</td><td>-0.16%</td></tr><tr><td>Russell 2000</td><td>-0.21%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, dropped in premarket on Wednesday. The SPY was down 0.18% to $574.44, while the QQQ declined 0.24% to $492.26, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



Consumer discretionary, communication services, financials, and energy sectors led a broad market rally on Tuesday, driving U.S. stocks higher.



Whereas, utilities, consumer staples, real estate and health care sectors declined.



On the economic front, the U.S. home prices hit a 20th record high, S&amp;P Case-Shiller showed a 4.1% annual rise in January. March saw a further decline in consumer confidence, according to the Conference Board, with the current conditions index slipping to 92.9, below expectations and marking a fourth consecutive monthly drop.



The Dow Jones index rose 4 points or 0.01% on Tuesday to 42,587.50, whereas the S&amp;P 500 index was up 0.16% at 5,776.65. Nasdaq Composite notched a 0.46% gain to end at 18,271.86, and the small-cap gauge, Russell 2000, declined 0.66% to 2,095.38.



<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>0.46%</td><td>18,271.86</td></tr><tr><td>S&amp;P 500</td><td>0.16%</td><td>5,776.65</td></tr><tr><td>Dow Jones</td><td>0.01%</td><td>42,587.50</td></tr><tr><td>Russell 2000</td><td>-0.66%</td><td>2,095.38</td></tr></tbody></table></figure>



Insights From Analysts:



The director of global macro at Fidelity Investments, Jurrien Timmer, highlighted in an X post that the market has gone from &#8220;above-trend to on-trend.&#8221;



According to his technical analysis, using Bollinger Bands, things are starting to look more balanced again after the S&amp;P 500 index had slipped into the correction.



<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">Technically, things are starting to look more balanced again. The chart below shows detrended Bollinger Bands for the S&amp;P 500. That's a fancy way of showing how many deviations the market is from its trendline. We were at +1 and are now at zero. In other words, the market has… <a href="https://t.co/4NKhFIuOgk">pic.twitter.com/4NKhFIuOgk</a>&mdash; Jurrien Timmer (@TimmerFidelity) <a href="https://twitter.com/TimmerFidelity/status/1904559651104125303?ref_src=twsrc%5Etfw">March 25, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Morgan Stanley&#8217;s chief equity strategist, Mike Wilson, maintained a 6,500 price target on the S&amp;P 500 index, with support at 5,500 points.



He was overweight on financials, industrials, energy and utilities. Whereas, he was underweight the Consumer in all styles.



<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">Morgan Stanley&#39;s chief equity strategist Mike Wilson &#x1f4e2; Maintains 6,500 <a href="https://twitter.com/search?q=%24SPX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SPX</a> price target &#x1f4e2;Overweight Financials, Industrials, Energy, Utes &#x1f4e2;Underweight the Consumer in all styles &#x1f4e2;5,500 support holds unless more severe slowing in economy, which is not our base case… <a href="https://t.co/RczZwCSGtD">pic.twitter.com/RczZwCSGtD</a>&mdash; Seth Golden (@SethCL) <a href="https://twitter.com/SethCL/status/1904497853361164379?ref_src=twsrc%5Etfw">March 25, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Wilson, in his weekly note, said that a Fed put is more likely than a Trump put.



&#8220;Investors are now very focused on the April 2nd reciprocal tariff deadline. While this catalyst could offer some incremental clarity on tariff rates and countries and products in scope, we think it&#8217;s more a starting point for tariff negotiations, as opposed to a clearing event. In short, a Fed put seems closer to being in the money than a Trump put though it probably would require material labor weakness or choppier credit and funding markets,&#8221; he stated.



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



Upcoming Economic Data



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



<ul>
<li>Durable goods orders data is set to be released at 8:30 a.m. ET.</li>
</ul>



<ul>
<li>St. Louis Fed President Alberto Musalem is scheduled to speak at 1:10 p.m. ET.</li>
</ul>



Stocks In Focus:



<ul>
<li>GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) surged 12.44% in premarket on Wednesday after the video game retailer announced a Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) treasury strategy and reported fourth-quarter adjusted earnings of 30 cents per share, beating analyst estimates of eight cents per share.</li>
</ul>



<ul>
<li>Theratechnologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/THTX#NASDAQ">THTX</a>) soared 53.25% after the company received FDA approval for EGRIFTA WR&#x2122; (Tesamorelin F8) to treat excess visceral abdominal fat in adults with HIV and Lipodystrophy.</li>
</ul>



<ul>
<li>Surgepays Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SURG#NASDAQ">SURG</a>) zoomed 73.19% on better-than-expected FY24 sales results.</li>
</ul>



<ul>
<li>CISO Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CISO#NASDAQ">CISO</a>) was up 16.04% after the company said it paid off its highest-interest loans as part of its ongoing efforts to strengthen its balance sheet.</li>
</ul>



<ul>
<li>Windtree Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WINT#NASDAQ">WINT</a>) jumped 9.15% after it had recently announced that it regained compliance status with Nasdaq regarding its listing rule standards.</li>
</ul>



<ul>
<li>Humacyte Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUMA#NASDAQ">HUMA</a>) dropped 22.78% after announcing the pricing of its $50 million public offering of 25 million common shares at $2.00 per share.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 0.70% to hover around $69.48 per barrel.



Gold Spot US Dollar declined 0.03% to hover around $3,019.12 per ounce. Its previous record high stood at $3,057.51 per ounce.



Asian markets closed on a mixed note on Wednesday. China&#8217;s CSI 300 and India's S&amp;P BSE Sensex index fell in trade. Whereas, Hong Kong's Hang Seng, South Korea's Kospi, Japan's Nikkei 225, and Australia's ASX 200 index advanced. European markets were also mixed in early trade.



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Pre-Market Outlook

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CISO

HUMA

SURG

THTX

WINT

US Stocks Likely To Open Lower After 3-Day Advance: Market Is Looking 'More Balanced' And Gone From 'Above-Trend To On-Trend,' Says Expert

Gold miners dominated <a target="_blank" href="https://www.benzinga.com/topic/mergers-and-acquisitions" rel="noreferrer noopener">mergers and acquisitions (M&amp;A) activity</a> in the metals and mining industry in 2024. Research by S&amp;P Global Market Intelligence found that yellow metal deals accounted for 70% of the total transaction value.



The <a target="_blank" href="https://www.spglobal.com/market-intelligence/en/news-insights/research/mining-mna-in-2024-gold-dominates-mna-space-for-2nd-consecutive-year" rel="noreferrer noopener">report</a> showed 62 gold-related transactions, compared to 47 in 2023, or a 32% growth. Although the overall deal value remained relatively close, at $26.36 billion, the $16.5 billion Newmont's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) acquisition of Newcrest was an outlier, skewing the numbers for the year before.



Most of 2024's M&amp;A occurred in two top jurisdictions, Australia and Canada. Gold's 27% surge in 2024 further incentivized acquisitions, while geopolitical risks, including the persisting conflict in Ukraine, tensions in the Middle East, and rising central bank purchases, encouraged expansions through acquisitions.



Northern Star Resources (OTCPK: NESRF) <a target="_blank" href="https://www.benzinga.com/24/12/42262825/northern-star-acquires-de-grey-for-33-billion-secures-promising-tier-1-asset" rel="noreferrer noopener">$3.26 billion acquisition</a> of De Grey Mining was the largest single transaction, consolidating ownership of one of Australia's most promising gold deposits. The number two spot went to AngloGold Ashanti's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AU#NYSE">AU</a>) <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/09/40790433/anglogold-ashanti-to-acquire-centamin-for-2-5b-to-become-fourth-largest-gold-producer" rel="noreferrer noopener">$2.48 billion takeover</a> of Centamin, strengthening its African presence.



In contrast, despite copper's growing popularity, copper-focused M&amp;A was comparatively subdued, with 16 total deals amounting to $5.7 billion. The largest one was Lundin Mining and BHP's joint <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/40031488/bhp-to-unlock-south-american-copper-riches-partners-with-lundin-for-filo-acquisition" rel="noreferrer noopener">$3.03 billion acquisition</a> of Filo Corp. If BHP's <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/05/39068033/time-runs-out-for-bhp-deal-49-billion-acquisition-of-anglo-american-proves-too-complex-to-solve" rel="noreferrer noopener">$49 billion bid for </a><a target="_blank" href="https://www.benzinga.com/news/large-cap/24/05/39068033/time-runs-out-for-bhp-deal-49-billion-acquisition-of-anglo-american-proves-too-complex-to-solve" rel="noreferrer noopener">Anglo American</a> had succeeded, the situation would have been vastly different.



S&amp;P's report also highlighted that while overall deal value remained stable, the absence of a $10 billion-plus megadeal meant that the average transaction size fell to $428.1 million—the lowest in five years and a 24% decline from 2023.



Large miners like Newmont sold smaller portfolio parts, focusing on top assets. At the same time, intermediate producers sought those assets to pursue margin-boosting synergies and growth necessary to break into the big leagues of producing over 1 million ounces annually.



In 2025, S&amp;P predicts further positive momentum in gold M&amp;A as metal prices bid new highs. The sector has already seen notable activity in early 2025, including Equinox Gold's $1.87 billion bid for Calibre Mining. However, <a target="_blank" href="https://www.benzinga.com/25/03/44394574/the-largest-shareholder-opposes-equinoxs-18-billion-acquisition" rel="noreferrer noopener">opposition from Equinox's top shareholder</a>, Van Eck, raises questions about whether the deal will proceed. Van Eck, who holds significant stakes in both companies, cited a lack of operational synergies as a key concern.



Gold Fields'<a target="_blank" href="https://www.benzinga.com/25/03/44458684/gruyere-power-struggle-gold-fields-surprise-offer-rejected-countermove-denied" rel="noreferrer noopener"> $2.1 billion offer</a> for Gold Road Resources announced this week was rejected as "opportunistic," with Gold Road arguing it undervalued its assets. The deal would have given Gold Fields full control over the Gruyere gold mine, but Gold Road proposed buying out Gold Fields' stake—a counteroffer that was subsequently rejected.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/trading-ideas/movers/25/03/44481208/sandstorm-gold-shares-are-up-today-whats-going-on" target="_blank" rel="noreferrer noopener">Sandstorm Gold Shares Are Up Today: What's Going On?</a></li>
</ul>



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Gold M&A Deals Are Accelerating, But Average Deals Are Smaller, Research Shows

Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) is set for a pivotal moment in its ongoing legal battle, with a U.S. judge scheduling a criminal fraud trial for Jun. 23, highlighting the aerospace giant&#8217;s persistent challenges stemming from <a href="https://www.benzinga.com/markets/equities/24/12/42716905/boeing-in-spotlight-after-fatal-737-800-crash-in-south-korea-stock-declined-28-amid-deepening-2024-challenges">two fatal 737 MAX crashes that claimed 346 lives</a>.



What Happened: The trial comes after U.S. District Judge Reed O&#8217;Connor rejected a previous plea deal, criticizing a diversity provision and setting the stage for a potentially landmark legal proceeding, reported Reuters. In 2023, O&#8217;Connor described Boeing&#8217;s actions as potentially &#8220;the deadliest corporate crime in U.S. history.&#8221;



The original plea agreement, struck in July, included a potential fine of $487.2 million and a three-year probation period with an independent monitor. However, victims&#8217; families have consistently argued that the deal fails to adequately hold Boeing accountable.



Boeing did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.



See Also: <a href="https://www.benzinga.com/markets/asia/25/03/44486235/chinas-milk-tea-chain-chagee-files-for-nasdaq-ipo-under-cha-taking-on-starbucks-in-growing-market">China&#8217;s Milk Tea Chain Chagee Files For Nasdaq IPO Under &#8216;CHA,&#8217; Taking On Starbucks In Growing Market</a>



Why It Matters: The case centers on Boeing&#8217;s alleged misrepresentations to U.S. regulators about critical flight control systems on the 737 MAX. The company&#8217;s legal challenges are compounded by recent safety incidents, including a January 2024 in-flight door panel blowout on an Alaska Airlines flight that <a href="https://www.benzinga.com/markets/25/03/44411079/boeing-frustrations-reach-crescendo-at-airline-founded-by-warren-buffett-of-india-we-just-dont-have-enough-aircraft-to-fly">exposed ongoing quality concerns</a>.



Despite these legal and operational hurdles, Boeing has secured some positive developments, including a significant U.S. Air Force contract for next-generation fighter aircraft, potentially worth tens of billions of dollars. 



The company continues to face delivery challenges, with airlines like Malaysia Aviation Group and Akasa Air experiencing <a href="https://www.benzinga.com/markets/equities/25/03/44431541/malaysia-aviation-group-orders-30-boeing-737-max-jets-secures-option-for-30-more-amid-rising-southeast-asia-demand">significant aircraft order delays</a>.



Price Action: Boeing closed at $182.59 on Monday, up 0.97% for the day. In after-hours trading, the stock dipped 0.10% to $182.40. Year to date, Boeing&#8217;s stock has gained 6.24%. However, over the past year, the stock has declined by 2.62%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.



Boeing lacks a strong growth forecast and valuation, according to Benzinga Edge&#8217;s ranking. For more insights,&nbsp;<a href="https://www.benzinga.com/screener/top-momentum-stocks" target="_blank" rel="noreferrer noopener">sign up for Benzinga Edge</a>.



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<li><a href="https://www.benzinga.com/tech/25/03/44487389/sundar-pichai-shows-off-googles-most-intelligent-ai-ever-with-a-dinosaur-video-game-that-even-you-could-make-with-a-simple-prompt" target="_blank" rel="noreferrer noopener">Sundar Pichai Shows Off Google's ‘Most Intelligent AI' Ever With A Dinosaur Video Game That Even You Could Make With A Simple Prompt</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.

Boeing Faces 'The Deadliest Corporate Crime' Trial As Judge Sets June Date In 737 MAX Fraud Case

Canada has put a stop to all rebate payments to Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), also excluding the company from future electric vehicle (EV) rebate programs. The decision comes in response to US tariffs.



What Happened: Transport Minister Chrystia Freeland announced the suspension and ban. The freeze will persist until each rebate claim is individually scrutinized and verified. The Transport minister further informed, "I also directed my department to change the eligibility criteria for future iZEV programs to ensure that Tesla vehicles will not be eligible for incentive programs so long as the illegitimate and illegal U.S. tariffs are imposed against Canada,&#8221; <a href="https://www.thestar.com/news/canada/canada-freezes-tesla-s-43-million-rebate-payments-bars-it-from-future-rebates-because-of/article_d93ae97a-944c-41c6-bae0-63e905050d87.html">reported</a> Toronto Star.



The decision to halt the payments, summing up to C$43 million ($30.11 million), was made ahead of Canadian Prime Minister Mark Carney&#8216;s call for a general election on April 28. Earlier this month, The Star revealed that a Tesla dealership in Quebec City secured nearly C$20 million in public subsidies by reporting over 4,000 electric vehicle sales in just one weekend.



Toronto had previously discontinued financial incentives for Tesla vehicles used as taxis or ride-hail vehicles due to rising trade tensions with the U.S.



SEE ALSO: <a href="https://www.benzinga.com/trading-ideas/movers/25/03/44480511/siriusxm-faces-headwinds-from-pricing-shift-ad-weakness-says-jpmorgan">SiriusXM Faces Headwinds From Pricing Shift, Ad Weakness, Says JPMorgan</a>



Why It Matters: This decision by the Canadian government comes after Nova Scotia excluded Tesla from their EV rebate program. The Progressive Conservative government, along with the NDP and Liberal opposition parties, unanimously <a href="https://www.benzinga.com/news/global/25/03/44452731/nova-scotia-joins-other-canadian-provinces-in-excluding-elon-musks-tesla-from-ev-rebate-program">voted to remove</a> Tesla from the rebate program. Freeland&#8217;s decision to exclude Tesla from future federal rebates follows similar actions by several provinces, driven by concerns over CEO Elon Musk&#8216;s stance on Canada and tariffs.



Tesla has been the biggest beneficiary of Canadian EV rebates, claiming C$713 million ($499.9 million) since 2019. However, many suspected the EV maker of having misused the rebate program.



Flavio Volpe, president of Canada's Automotive Parts Manufacturers' Association, stated, "Tesla exploited the iZEV program by sneaking in its Shanghai-built product to soak up Canada incentives while its CEO declared ‘Canada is not a real country' on X. Sounds like they made their bed."



This exclusion from the Canadian EV rebate programs is a big setback for Tesla and could potentially impact the company&#8217;s sales and market share in the region.



Tesla holds a momentum rating of 91.70% and a growth rating of 67.88%, according to&nbsp;<a href="https://www.benzinga.com/report/TSLA" target="_blank" rel="noreferrer noopener">Benzinga&#8217;s Proprietary Edge Rankings</a>. The Benzinga Growth metric evaluates a stock's historical earnings and revenue expansion across multiple timeframes, prioritizing both long-term trends and recent performance. For an in-depth report on more stocks and insights into growth opportunities,&nbsp;<a href="https://www.benzinga.com/screener/top-momentum-stocks" target="_blank" rel="noreferrer noopener">sign</a>&nbsp;<a href="https://www.benzinga.com/screener/top-momentum-stocks" target="_blank" rel="noreferrer noopener">up for Benzinga Edge.</a>



Tesla stock rose 3.45% to close at $287.99 on Tuesday. The stock has lost over 24% year-to-date.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="452" height="291" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/26033156/Screenshot-2025-03-26-130134.png" alt="" class="wp-image-841796" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/26033156/Screenshot-2025-03-26-130134.png 452w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/26033156/Screenshot-2025-03-26-130134-300x193.png 300w" sizes="(max-width: 452px) 100vw, 452px" /></figure>



<ul>
<li>READ MORE: <a href="https://www.benzinga.com/tech/25/03/44487389/sundar-pichai-shows-off-googles-most-intelligent-ai-ever-with-a-dinosaur-video-game-that-even-you-could-make-with-a-simple-prompt">Sundar Pichai Shows Off Google&#8217;s &#8216;Most Intelligent AI&#8217; Ever With A Dinosaur Video Game That Even You Could Make With A Simple Prompt</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.

Canada Bars Tesla From EV Rebates Programs In Response To 'Illegitimate And Illegal' US Tariffs

Taiwan Semiconductor Manufacturing Co.'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) $165 billion U.S. expansion is reportedly driven by geopolitical pressure, supply chain security, and customer demands, but it comes with major risks for Taiwan.&nbsp;



What Happened: TSMC&#8217;s accelerated U.S. expansion aims to meet the demands of American clients like Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Nvidia Corp.(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).



However, experts warn that Taiwan&#8217;s strategic importance could diminish as the U.S. increases its share in global chip production, <a href="https://asia.nikkei.com/Business/Technology/Tech-Asia/TSMC-s-165bn-U.S.-expansion-push-Inevitable-but-risky">reported</a> Nikkei Asia.



Earlier this month, TSMC announced an additional $100 billion investment to build five new chip facilities and an R&amp;D center in the U.S.



The self-governed island has relied on its &#8220;Silicon shield&#8221; for protection, but the U.S. is now home to TSMC&#8217;s first overseas cutting-edge plant in Arizona.



See Also:&nbsp;<a href="https://in.benzinga.com/markets/equities/25/01/43376506/intel-will-be-fighting-for-every-socket-in-the-data-center-business-says-co-ceo-michelle-holthaus-as-competition-from-amd-nvidia-heats-up" target="_blank" rel="noreferrer noopener">Intel ‘Will Be Fighting For Every Socket' In The Data Center Business, Says Co-CEO Michelle Holthaus As Competition From AMD, Nvidia Heats Up</a>



Konrad Young, a former R&amp;D director at TSMC and former senior advisor at Intel, said that Taiwan should move beyond the &#8220;silicon shield&#8221; concept and avoid linking its strategic significance solely to a single company or industry.



He stressed the need for Taiwan to establish &#8220;multiple shields&#8221; to showcase its broader value to governments worldwide.



Why It's Important: The expansion of TSMC in the U.S. has sparked a series of geopolitical and economic concerns.



Last month, <a href="https://in.benzinga.com/markets/equities/25/02/43966206/china-warns-tsmc-could-become-united-states-semiconductor-manufacturing-co-as-trump-pushes-us-chipmaking">China accused Taiwan</a> of potentially surrendering its semiconductor industry to the U.S. for political support. This accusation comes amid rumors of TSMC&#8217;s potential stake in Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>).



Moreover, Taiwan&#8217;s government has also scrutinized TSMC&#8217;s overseas ventures, saying that they require permission <a href="https://in.benzinga.com/government/regulations/25/02/44013241/taiwan-semiconductor-faces-government-scrutiny-on-overseas-ventures-amid-intel-stake-rumors">for joint ventures abroad</a>.



Previously, the U.S. has also expressed concerns over Chinese tech giant Huawei Technologies&#8217; <a href="https://in.benzinga.com/media/25/02/44052145/taiwan-semi-faces-geopolitical-strain-due-to-us-scrutiny-on-huaweis-chip-access">access to TSMC chips</a>.



Despite these challenges, TSMC&#8217;s Chairman CC Wei earlier this month said that the U.S. expansion is driven by the booming demand for AI and smartphone technologies, <a href="https://in.benzinga.com/25/03/44195821/taiwan-semiconductor-chief-says-us-expansion-driven-by-ai-and-smartphone-boom-warns-of-supply-shortage">not political pressure</a>.



Price Action: TSMC&#8217;s stock inched up 0.32% in after-hours trading, reaching $181.48. Earlier on Tuesday, it closed at $180.90, slipping 0.14% during regular trading. So far this year, the company&#8217;s shares have declined 10.26%, according to <a href="http://pro.benzinga.com/">data from Benzinga Pro</a>.



Photo by Andy.LIU Shutterstock



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<li><a href="https://www.benzinga.com/markets/25/01/43373775/tim-cook-praises-chinas-deepseek-for-driving-efficiency-stresses-apples-prudent-and-deliberate-approach-toward-capital-expenditure" target="_blank" rel="noreferrer noopener">Tim Cook Praises China&#8217;s DeepSeek For Driving Efficiency, Stresses Apple&#8217;s ‘Prudent And Deliberate&#8217; Approach Toward Capital Expenditure</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

AAPL

INTC

TSMC's $165 Billion Bet On US Chip Manufacturing Raises Alarms In Taiwan Amid China Threat — Experts Warn Taipei Must Plan Beyond Its 'Silicon Shield'

Leading cryptocurrencies traded flat on Tuesday, even as another Wall Street player announced a Bitcoin treasury strategy.



<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 9:30 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+0.58%</td><td>$87,826.14</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>-0.17%</td><td>$2,073.75</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>+5.00%</td><td>$0.1945</td></tr></tbody></table></figure>



What Happened: The apex cryptocurrency rallied to an intraday high of $88,542.39, a marked improvement from the lows of $77,500 two weeks ago. Bitcoin, however, still traded down over 19% from its all-time highs set two months earlier. 



The sideways price action came despite video game retailer GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) announcing <a href="https://in.benzinga.com/general/gaming/25/03/44482313/gamestop-q4-earnings-revenue-miss-eps-beat-shares-surge-as-board-approves-bitcoin-as-treasury-reserve-asset">plans</a> to adopt Bitcoin as a Treasury reserve asset.



Ethereum consolidated in the $2,000 region, with a high of $2,084.04 recorded during the day.



Bitcoin's market dominance increased to 60.5% while Ethereum's share shrank by 1.91% over the last 24 hours. Dogecoin, meanwhile, recorded a healthy gain of 5%.



In the past 24 hours, 79,798 traders were liquidated, with total liquidations at $159.85 million. Nearly equal amounts of longs and shorts were wiped out.



Bitcoin's Open Interest fell 0.55% in the last 24 hours, while Ethereum also recorded a marginal decline in funds locked in its unsettled futures contracts.



Traders betting on Bitcoin's price increase surged sharply vis-à-vis those betting on its decline, according to the Long/Short Ratio.



The market sentiment changed from "Fear" to "Neutral," according to the Crypto Fear and Greed Index, suggesting a balance between market forces.



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 9:30 p.m. ET)</td></tr><tr><td>Movement (MOVE)</td><td>+30.06%</td><td>$0.5668</td></tr><tr><td>Cronos (CRO)</td><td>+15.40%</td><td>$0.1094</td></tr><tr><td>Zcash (ZEC)</td><td>+13.23%</td><td>$36.46</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $2.88 trillion, following a marginal increase of 0.41% in the last 24 hours.



Stocks carried on from the previous session's gains. The Dow Jones Industrial Average eked out a narrow gain of 1.42% to close at 42,587.50. The S&amp;P 500 gained 0.16%, ending at 5,776.65. The tech-focused Nasdaq Composite added 0.46% to close at 18,271.86.



The gains came despite <a href="https://in.benzinga.com/government/regulations/25/03/44475192/consumer-confidence-falls-to-lowest-since-2022-as-inflation-tariff-worries-grow">pessimistic consumer confidence</a> data that fell to its lowest reading since late 2022.



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



Analyst Notes: Popular on-chain blockchain analytics firm Santiment stated that Bitcoin's spike to $88,500 has brought optimism back to retail traders



The firm noted that trader greed has escalated, with BTC price projections on social media ranging from $100,000 to $159,000.



"Remember that cryptocurrency markets have ALWAYS historically moved the opposite direction of the crowd&#8217;s expectations," Santiment said, suggesting that this could be a good time for profit-taking.



<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">&#x1f911; As crypto has bounced nicely in the second half of March, traders have swung the pendulum back toward mild greed. After showing major fear in late February and early March following two stints of Bitcoin dipping as low as $78K, it appears that this rebound to $88.5K has… <a href="https://t.co/WGvmvKSv2X">pic.twitter.com/WGvmvKSv2X</a>&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1904680671714697351?ref_src=twsrc%5Etfw">March 25, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Influential cryptocurrency analyst, Ali Martinez, highlighted Ethereum's breach of $2,040.



"The next key hurdle is $2,300, where the pricing bands suggest strong resistance," Martinez 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"><a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> has reclaimed its realized price at $2,040. The next key hurdle is $2,300, where the pricing bands suggest strong resistance. <a href="https://t.co/vBIoZotIDR">pic.twitter.com/vBIoZotIDR</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1904633889802641803?ref_src=twsrc%5Etfw">March 25, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo by SvetlanaParnikova on Shutterstock



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<li><a href="https://www.benzinga.com/news/legal/25/03/44484286/ripple-closes-in-on-legal-resolution-with-sec-will-recover-75-million-from-original-fine">Ripple Closes In On Legal Resolution With SEC, Will Recover $75 Million From Original Fine</a></li>
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$ETH

Bitcoin, Ethereum Range-Bound, Dogecoin Spikes As GameStop Move Shines Spotlight On Crypto: Analytics Platform Says Now Could Be A Good Time To Take Profit

Chagee Holdings Limited, a premium tea drink brand, has filed with the Securities and Exchange Commission to list its ADSs on the Nasdaq Global Select Market under the ticker &#8220;CHA.&#8221; The company aims to fuel its expansion in the growing freshly-made tea drinks market through this IPO.  



Founded in 2017, Chagee has grown rapidly. As of Dec. 31, its network included 6,440 teahouses, with 6,284 in China, making it the largest network among premium brands in the country. The company reported approximately RMB 29.5 billion ($4.06 billion) in total Gross Merchandise Value for 2024, a 173% increase from 2023.  



Chagee emphasizes &#8220;tea tech,&#8221; integrating digital and automation to enhance operations. The company operates as a Cayman Islands holding company with subsidiaries in China and elsewhere. 



The IPO&#8217;s size and pricing details are yet to be disclosed. Citigroup, Morgan Stanley, Deutsche Bank, and CICC are among the underwriters. 



The company competes in the fast-evolving freshly made tea market against established players with more resources. It also vies with food and beverage operators, including Starbucks Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), for premium beverage sales.



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<li><a href="https://www.benzinga.com/trading-ideas/movers/25/03/44468143/sam-altman-founded-worldcoin-network-beats-bitcoin-ethereum-with-11-rally-amid-visa-partnership-reports" target="_blank" rel="noreferrer noopener">Sam Altman-Founded Worldcoin Network Beats Bitcoin, Ethereum With 11% Rally Amid Visa Partnership Reports</a></li>
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Image via Shutterstock



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

SBUX

China's Milk Tea Chain Chagee Files For Nasdaq IPO Under 'CHA,' Taking On Starbucks In Growing Market

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DMAGA/USD Page Not Found - Benzinga

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