According to Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) CEO Brian Moynihan, Federal Reserve policy should remain steady despite concerns about economic uncertainty. On Wednesday, he said the Fed should be &#8220;a little cautious about cutting,&#8221; citing economic growth of around 2% and <a href="https://www.benzinga.com/topic/tariffs">ongoing tariff adjustments. </a>



&#8220;It would seem that maybe they'd want to hold on to the firepower that they've built up over the last year or so,&#8221; Moynihan told CNBC during a &#8220;Squawk Box&#8221; <a href="https://www.cnbc.com/2025/03/19/bank-of-americas-ceo-says-economic-growth-is-better-than-people-think-and-the-fed-should-stay-on-hold.html">interview</a>. He added, &#8220;They shouldn't be premature to try to boost the economy when it's growing at 2%.&#8221;



What Happened: Moynihan described the 2% GDP growth projection as &#8220;trend growth,&#8221; noting that such expansion aligns with economic targets following the financial crisis. 



He emphasized that despite rising concerns about inflation and slowing confidence levels, spending data indicates economic resilience. &#8220;We see the consumer continue to be solid, and that should bode well for the economy,&#8221; he said. 



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



On the broader economic picture, Moynihan acknowledged that President Donald Trump&#8217;s tariffs would likely reduce growth by about 0.4 percentage points in the near term, CNBC reports. Despite this, he remained confident that the economy will stabilize.



&#8220;Right now, we're not talking about what could happen,&#8221; Moynihan said. &#8220;We're talking about what is happening. The consumer continues to spend pretty strongly for the first part of this year.&#8221;



Why It Matters: Consumer behavior data from BofA Securities supports Moynihan&#8217;s optimism. A recent survey by BofA Securities showed an increase in home improvement spending expectations from 27% last year to 31% in March 2025, the highest since May 2024. Plans for family growth have also improved, with intentions to have a baby rising from 9% to 12%.



Meanwhile, The Conference Board Consumer Confidence Index fell 7 points to 98.3 in February, its steepest decline since August 2021. Yet, consumer spending remains <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/03/44383156/consumer-confidence-dips-but-spending-on-home-improvements-and-family-planning-sees-uptick-analyst-survey">consistent across various sectors.</a>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/real-estate/reit/25/03/44396973/mortgage-applications-drop-as-rising-rates-squeeze-refinance-demand">Mortgage Applications Drop As Rising Rates Squeeze Refinance Demand</a></li>
</ul>



Image created using artificial intelligence via Midjourney.

Econ #s

Federal Reserve

Fed Must Be 'A Little Cautious' On Rate Cuts, Warns BofA CEO

The latest market downturn has left many investors questioning whether this is a temporary dip or the beginning of <a href="https://www.benzinga.com/markets">a prolonged bear market.</a>



Yet, an eye-opening indicator suggests that opportunities may be more abundant than feared—95% of S&amp;P 500 stocks currently hold a median analyst price target above their latest trading price, signaling significant upside potential across the board.



Notably, two Magnificent Seven stocks—Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)—rank among the top when comparing the gap between Wall Street&#8217;s median price target and current prices, a quite uncommon event for tech giants that traditionally trade at valuation premiums.



<h3 class="wp-block-heading">Is This A Market Bottom Or A Value Trap?</h3>



The S&amp;P 500 officially entered correction territory last week, leaving investors to wonder whether the worst is over or if further downside awaits.



Ed Yardeni, president of Yardeni Research, has been one of the more bullish voices on Wall Street. Last week, he raised his probability of a bearish scenario from 20% to 35%. That forecast includes the possibility of a recession or stagflation—a combination of stagnant growth and inflation.



Yardeni also acknowledged the possibility that a bear market may have begun on Feb. 20, the day after the S&amp;P 500 reached a record high. This shift in sentiment led him to lower his year-end 2025 S&amp;P 500 target from 7,000 to 6,400.



From a technical standpoint, only 41% of S&amp;P 500 stocks are trading above their 200-day moving average, signaling that most have fallen below a key trend support level, potentially confirming a bearish phase.



Yet, long-term market data provides a reason for optimism. 



Jeffrey Buchbinder, chief equity strategist at LPL Financial, points out that market corrections—defined as a decline of 10% or more—occur every 1.1 years on average, dating back to 1928. 



&#8220;Corrections also tend to produce attractive buying opportunities&#8221;



Since 1950, the S&amp;P 500 has experienced an average intra-year drawdown of a negative 13.7%, yet it has still managed to post an average annual gain of 9.5%, with 73% of those years ending in positive territory. 



Even in years when the index experienced an intra-year decline of 10% to 20%, the average annual return was still 8.4%, with 64% of those years finishing higher.



<h3 class="wp-block-heading">Which Stocks Have The Biggest Upside?</h3>



Based on current analyst price targets, several stocks stand out for their potential gains. 



Deckers Outdoor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>) leads the list, with a median price target nearly 95% higher than its last price. First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) follows closely, with a projected upside of 93%.



Notably, Tesla and Nvidia, two of the most closely watched growth stocks, also rank high on the list. Analysts see Tesla's price target at $371.50, representing a 64.9% upside, while Nvidia's median price target sits at $175, implying a 51.6% gain from current levels.



Other stocks with significant upside potential include:



<ul>
<li>Caesars Entertainment Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>) &#8211; 81.4% potential upside</li>



<li>Western Digital Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>) &#8211; 80.4% potential upside</li>



<li>United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) &#8211; 80.2% potential upside</li>



<li>Delta Air Lines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) &#8211; 72.0% potential upside</li>
</ul>



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><thead><tr><th>#</th><th>Stock name</th><th>Last Price</th><th>Price Target &#8211; Median</th><th>Target vs. Last Price %</th></tr></thead><tbody><tr><td>1</td><td>Deckers Outdoor Corp.</td><td>115.30</td><td>225.00</td><td>95.14%</td></tr><tr><td>2</td><td>First Solar, Inc. </td><td>127.34</td><td>245.95</td><td>93.14%</td></tr><tr><td>3</td><td>Caesars Entertainment, Inc. </td><td>27.56</td><td>50.00</td><td>81.42%</td></tr><tr><td>4</td><td>Western Digital Corp.</td><td>44.34</td><td>80.00</td><td>80.42%</td></tr><tr><td>5</td><td>United Airlines Holdings, Inc. </td><td>71.34</td><td>128.60</td><td>80.26%</td></tr><tr><td>6</td><td>Delta Air Lines, Inc. </td><td>45.92</td><td>79.00</td><td>72.04%</td></tr><tr><td>7</td><td>Tesla, Inc. </td><td>225.31</td><td>371.50</td><td>64.88%</td></tr><tr><td>8</td><td>Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>)</td><td>19.07</td><td>31.00</td><td>62.56%</td></tr><tr><td>9</td><td>Align Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALGN#NASDAQ">ALGN</a>)</td><td>164.53</td><td>260.00</td><td>58.03%</td></tr><tr><td>10</td><td>Constellation Energy Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>)</td><td>210.85</td><td>331.50</td><td>57.22%</td></tr><tr><td>11</td><td>MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>)</td><td>31.86</td><td>50.00</td><td>56.94%</td></tr><tr><td>12</td><td>Carnival Corp. &amp; plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>)</td><td>20.12</td><td>31.00</td><td>54.08%</td></tr><tr><td>13</td><td>Nvidia Corp. </td><td>115.43</td><td>175.00</td><td>51.61%</td></tr><tr><td>14</td><td>KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>)</td><td>114.02</td><td>170.00</td><td>49.10%</td></tr><tr><td>15</td><td>Synchrony Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYF#NYSE">SYF</a>)</td><td>53.05</td><td>79.00</td><td>48.92%</td></tr><tr><td>16</td><td>Iron Mountain Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IRM#NYSE">IRM</a>)</td><td>87.62</td><td>127.50</td><td>45.51%</td></tr><tr><td>17</td><td>Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>)</td><td>203.38</td><td>295.00</td><td>45.05%</td></tr><tr><td>18</td><td>Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>)</td><td>96.44</td><td>139.00</td><td>44.13%</td></tr><tr><td>19</td><td>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>)</td><td>37.90</td><td>54.50</td><td>43.80%</td></tr><tr><td>20</td><td>Synopsys Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>)</td><td>447.99</td><td>644.00</td><td>43.75%</td></tr></tbody></table><figcaption class="wp-element-caption">Data: Koyfin</figcaption></figure>



Read now: 



<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44379453/equity-exposure-plummets-cash-holdings-jump-as-investors-rethink-us-exceptionalism-bank-of-america-survey">Equity Exposure Plummets, Cash Holdings Jump As Investors Rethink &#8216;US Exceptionalism,&#8217; Bank Of America Survey</a></li>
</ul>



Photo: Shutterstock

Analyst Color

Equities

Large Cap

Mid Cap

Price Target

Economics

ALGN

DECK

DELL

FSLR

NCLH

NVDA

SMCI

SNPS

TSLA

Analysts See Upside For 95% Of S&P 500 Stocks: How Nvidia, Tesla Stack Up

Mortgage applications took a sharp 6.2% dive last week as rising interest rates pushed refinance demand lower, according to the latest data from <a href="https://www.benzinga.com/news/econ-s">the Mortgage Bankers Association. </a>



In a report released Wednesday, the MBA said its Market Composite Index—a key measure of mortgage loan application volume—dropped 6.2% on a seasonally adjusted basis for the week ending March 14. On an unadjusted basis, the index was down 6%.



All eyes are now on the Federal Reserve's policy announcement later on Wednesday, which could set the tone for interest rates and housing affordability in the months ahead.



<h3 class="wp-block-heading">Why Did Mortgage Applications Fall?</h3>



The primary driver behind the decline was a jump in mortgage rates. After nine consecutive weeks of declines, the average 30-year fixed mortgage rate rose to 6.72%, up by 5 basis points from last week. 



The MBA's Refinance Index plunged 13% from the prior week, though it remained 70% higher than the same period last year. 



Refinancing activity accounted for 42% of total mortgage applications, down from 45.6% the previous week. Adjustable-rate mortgages, which tend to see higher demand when fixed rates rise, made up just 6.7% of all applications.



Despite the broader decline, home purchase applications showed resilience, with the seasonally adjusted Purchase Index edging up 0.1% from the prior week. On an unadjusted basis, purchases rose 1% and were 6% higher than a year ago.



"Mortgage rates increased for the first time in nine weeks, with the 30-year fixed rate rising to 6.72%," said Mike Fratantoni, MBA's SVP and chief economist. 



"This increase in rates led to a decrease in refinance volume. However, purchase application volume inched up to its highest level in six weeks, led by a 3% increase in FHA purchase applications."



Fratantoni also highlighted that a growing supply of homes and stable mortgage rates have supported activity in the spring homebuying season.



<h3 class="wp-block-heading">Fed Decision Could Shape Housing Market Outlook</h3>



The Federal Reserve is set to announce its latest interest rate decision Wednesday, with markets widely expecting the central bank to maintain its benchmark rate in the 4.25%-4.5% range. 



Investors will closely watch Fed Chair Jerome Powell's comments for clues on the path of future rate cuts, particularly as policymakers release their updated economic projections, known as the &#8220;dot plot.&#8221;



In December, the Fed had already revised its inflation projections higher while scaling back expected rate cuts for 2025 from four to two. With persistent inflationary pressures—including potential price increases due to tariffs under a Trump administration—there is speculation that the Fed may further adjust its inflation outlook.



The bond market remains steady ahead of the announcement. The yield on 30-year U.S. Treasury bonds held at 4.59%, while the iShares Residential and Multisector Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REZ#NYSE">REZ</a>) was up 0.1% in premarket trading Wednesday. Year to date, the fund has gained over 5%. Meanwhile, the Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) was flat.



Read now: 



<ul>
<li><a href="https://www.benzinga.com/general/biotech/25/03/44395415/trump-administration-weighs-deep-cuts-to-domestic-hiv-prevention-programs-gilead-stock-slides">Trump Administration Weighs Deep Cuts To Domestic HIV Prevention Programs, Gilead Stock Slides</a></li>
</ul>



Image created using artificial intelligence via Midjourney.

Macro Economic Events

REIT

Sector ETFs

ETFs

Real Estate

XLRE

Mortgage Applications Drop As Rising Rates Squeeze Refinance Demand

Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) isn't just pushing <a href="https://www.benzinga.com/topic/artificial-intelligence">the AI envelope</a> — it's rewriting the entire playbook. 



At GTC 2025, the chip giant laid out a roadmap stretching to 2028, reinforcing its "aggressive one-year product cadence" and solidifying its dominance in AI acceleration, said JPMorgan analyst Harlan Sur.



<h2 class="wp-block-heading">The Big Reveal: Blackwell Ultra &amp; Beyond</h2>



CEO Jensen Huang took the stage to announce that Nvidia is on track for a second-half 2025 rollout of Blackwell Ultra (B300), which will deliver a 50% boost in compute performance over the current Blackwell chips. 



That's a massive leap, but it's just the beginning.



<h2 class="wp-block-heading">AI Scaling Laws Are Changing</h2>



Sur noted that "AI model innovations, such as DeepSeek, should drive significantly higher compute complexity and require higher compute performance/intensity." 



Read Also: <a href="https://www.benzinga.com/25/03/44392370/nvidia-destroys-420-billion-of-investor-wealth-since-deepseek-launch-valuation-hits-a-29-month-low-as-gtc-fails-to-ignite-stock">Nvidia Loses $420 Billion In Market Capitalization Since DeepSeek Launch, Valuation Hits A 29-Month Low As GTC Fails To Ignite Stock</a>



Nvidia showcased this reality, demonstrating that advanced reasoning models demand 20 times more tokens and 150 times more compute power than traditional large language models.



<h2 class="wp-block-heading">Rubin GPU To Shake Up The Market</h2>



By late 2026, Nvidia will roll out Rubin, a new GPU architecture that Sur highlighted as offering 3.3 times the performance of Blackwell Ultra, thanks to next-gen HBM4 DRAM with 288GB capacity. But it doesn't stop there—by 2027, the Rubin Ultra NVL 576 will introduce a 144-GPU chipset based on a 4-chiplet architecture, delivering a staggering 14x boost over Blackwell Ultra NVL72.



<h2 class="wp-block-heading">Networking &amp; Robotics – The Next Frontier?</h2>



While Nvidia remains committed to copper cabling, the company is exploring co-packaged optics (CPO) for future applications. However, Sur pointed out that its adoption could be limited due to concerns around "technical challenges, reliability/manufacturability concerns, and vendor lock-in."



Meanwhile, Nvidia isn't stopping at AI chips—it's leveraging its full-stack development platform to expand into humanoid robotics, a sector that could redefine automation in the coming years.



JPMorgan isn't budging on its bullish stance, reiterating that "Nvidia continues to remain 1-2 steps ahead of its competitors." 



With a $170 price target, Wall Street sees plenty of upside as the AI revolution powers forward.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/25/03/44393619/nvidia-teams-up-with-gehc-google-ibm-and-crowdstrike-to-redefine-ai-and-quantum-technology">NVIDIA Teams Up with GE, Google, IBM, And CrowdStrike To Redefine AI And Quantum Technology</a></li>
</ul>



Image: Shutterstock

Long Ideas

Analyst Ratings

Tech

Trading Ideas

Nvidia Extends AI Reign To 2028: JPMorgan Says It's Still '1-2 Steps Ahead'

General Mills, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) shares are <a href="https://www.benzinga.com/premarket" target="_blank" rel="noreferrer noopener">trading lower in premarket</a> today.



On Wednesday, the company reported a third-quarter sales decrease of 5% year-on-year to $4.84 billion, missing the analyst consensus estimate of $4.96 billion. Organic <a href="https://www.benzinga.com/pressreleases/25/03/b44394078/general-mills-reports-fiscal-2025-third-quarter-results-and-updates-full-year-outlook" target="_blank" rel="noreferrer noopener">net sales were down 5%.</a>



North America Retail segment sales declined 7% to $3 billion. North America&nbsp;Pet segment sales remained flat Y/Y at $624 million, while International segment sales decreased 4% to $651 million.



Adjusted EPS of $1.00 <a href="https://www.benzinga.com/earnings">beat the consensus estimate of $0.96.</a>



Gross margin expanded 40 basis points Y/Y to 33.9%. Adjusted gross margin down 60 basis points to 33.4%.



Also Read:<a target="_blank" href="https://www.benzinga.com/25/03/44372913/whats-going-on-with-nio-stock-today" rel="noreferrer noopener"> NIO And CATL To Build China's Largest Battery Swapping</a>



Operating margin expanded 50 basis points to 18.4%, and operating income for the quarter decreased 2% to $891 million.



General Mills held $521.3 million in cash and equivalents as of February 23, 2025. Operating cash flow for nine months totaled $2.3 billion.



General Mills repurchased about 14 million shares of common stock through nine months of fiscal 2025 for a total of $902 million.



&#8220;Our third-quarter organic net sales finished below our expectations, driven largely by greater-than-expected retailer inventory headwinds and a slowdown in snacking categories,&#8221; said Chairman and CEO Jeff Harmening.



Outlook: General Mills expects macroeconomic uncertainty to continue to impact consumers in the&nbsp;fourth quarter. Also, the company plans to make investments in the&nbsp;fourth quarter&nbsp;in advance of significant<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener"> fiscal 2026 new product launches.</a>



The company now expects FY25 organic net sales&nbsp;to be down&nbsp;2% to down&nbsp;1.5%, compared to the previous expectation of the lower end of the range of between flat and up&nbsp;1%.



Also, the company now expects adjusted operating profit and adjusted EPS to be down 8% to down 7% in constant currency, compared to the previous ranges of between down 4% and down 2% in constant currency, reflecting lower net sales. This guidance does not include any impact from new tariff actions in 2025.



In addition, the company has commenced a review of expected cost-savings initiatives that target savings of at least&nbsp;$100 million&nbsp;in fiscal 2026.&nbsp;



Price Action: GIS shares are trading lower by 3.29% at $58.42 in premarket at last check Wednesday.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/general/health-care/25/03/44359600/hyperfine-nvidia-partner-to-make-brain-mris-more-affordable" target="_blank" rel="noreferrer noopener">Hyperfine, Nvidia Partner To Make Brain MRIs More Affordable</a></li>
</ul>



Photo by calimedia via Shutterstock.

Earnings

News

Guidance

Movers

General

Pillsbury Maker General Mills Cautions About Economic Uncertainty After Q3 Revenue Dip

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock climbed 3.70% during the pre-market trading session on Wednesday as it attempted to rebound from the gloom surrounding the past trading sessions.



What Happened: In Tuesday&#8217;s interview on Fox News&#8217;s Sean Hannity, CEO Elon Musk responded to the protests, expressing surprise at the &#8220;level of hatred and violence from the [political] left.&#8221;



He defended Tesla as a &#8220;peaceful company&#8221; that has &#8220;never done anything awful.&#8221; Musk also touched upon the Department of Government Efficiency (DOGE), which he oversees.



He underscored the high national debt, pointing out that interest payments surpass the entire military budget.



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Elon Musk laments &#039;deranged&#039; Democrats&#039; attacks on Tesla plants" width="500" height="281" src="https://www.youtube.com/embed/03-FBV1T1Lc?start=893&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>



In another positive development, Tesla secured its <a href="https://www.benzinga.com/25/03/44392619/elon-musks-tesla-secures-first-approval-towards-rolling-out-robotaxi-in-california">first permit in California</a>, a significant step towards launching a robotaxi service, enabling the company to operate a fleet of vehicles for scheduled trips.



However, the permit does not allow Tesla to offer autonomous rides or run a public ride-hailing service. Musk has turned his attention to robotaxis as sales slow, pledging to launch driverless services in California and Texas this year.



SEE ALSO: <a href="https://www.benzinga.com/25/03/44393177/fubotv-partners-with-rangers-sports-network-for-full-season-of-texas-rangers-baseball">FuboTV Partners With Rangers Sports Network For Full Season Of Texas Rangers Baseball</a>



Why It Matters: Tesla investors are going through a period of uncertainty amid declining share prices and ongoing protests against the company.



Rising competition from Chinese EV manufacturer BYD (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) has also added to the concerns. All these factors have triggered a substantial sell-off of shares. As of Wednesday, Tesla&#8217;s stock had dipped about 47% since the Jan. 20 inauguration of President Donald Trump.



According to RBC Capital analyst Tom Narayan, &#8220;Much of the attention around Tesla has centered on <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/03/44380301/tesla-analyst-says-demand-fears-overblown-but-has-some-concerns-as-used-car-prices-plummet">its recent delivery </a>performance in Jan and Feb in Europe and China.&#8221;



He believes that concerns about demand are likely exaggerated, as Europe and China account for only a small share of Tesla&#8217;s total vehicle sales. However, the analyst is concerned as Tesla used car prices are declining at three times the pace of the overall used car market.



On Tuesday, Tesla stock declined 5.35% to close at $225.31. Over the past 12 months, the stock gained over 31%, as per <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.



READ MORE:



<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/03/44371661/ai-bubble-bursting-magnificent-7s-profit-margins-face-pressure-as-capital-spending-can-tumble-in-2025">AI Bubble Bursting? Magnificent 7&#8217;s Profit Margins Face Pressure As &#8216;Capital Spending Can Tumble&#8217; In 2025</a></li>
</ul>



Image via Shutterstock



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

Markets

BYDDF

Tesla Stock Surges Nearly 4% In Pre-Market: What's Going On?

U.S. stock futures advanced on Wednesday ahead of the Federal Open Market Committee&#8217;s (FOMC) decision on the interest rates. Futures of all four benchmark indices were higher in premarket trading.



On Tuesday, the stocks plunged after a two-day rally as the Magnificent 7 stocks dragged the indices down. Nvidia Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) GTC AI Conference failed to ignite a rally despite a slew of announcements.



The two-day FOMC meeting began on Tuesday, and the Federal Reserve Chairman Jerome Powell is expected to announce its decision during a press conference on Wednesday afternoon.



The 10-year Treasury yield stood at 4.29%, while the two-year yield was at 4.05%. According <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">to</a> the CME Group's FedWatch tool, there is a 99% chance that the Federal Reserve will keep interest rates unchanged.



<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>0.16%</td></tr><tr><td>S&amp;P 500</td><td>0.26%</td></tr><tr><td>Dow Jones</td><td>0.02%</td></tr><tr><td>Russell 2000</td><td>0.28%</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, were higher in premarket on Wednesday. The SPY was up 0.26% to $562.46, and the QQQ advanced 0.35% to $476.22, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From The Last Session



Technology, communication services, and consumer discretionary sectors led U.S. stock declines on Tuesday, with the Nasdaq Composite falling roughly 300 points.



Specifically, Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) dropped about 4%, and Nvidia Corp. fell over 3%.



The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) also saw a decline exceeding 1%. In contrast, energy and healthcare stocks rose, defying the broader market&#8217;s downward trend.



Economic data showed that U.S. import prices increased by 0.4% in February, exceeding expectations, while export prices rose 0.1%. The U.S. industrial production also surpassed estimates, increasing by 0.7% in February.



The Nasdaq 100 index continues to be in the correction zone as it was still 12.33% lower from its previous high. While Dow Jones was 7.75% lower, S&amp;P 500 declined 8.67% from their respective 52-week highs.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>-1.71%</td><td>17,504.12 </td></tr><tr><td>S&amp;P 500</td><td>-1.07%</td><td>5,614.66</td></tr><tr><td>Dow Jones</td><td>-0.62%</td><td>41,581.31</td></tr><tr><td>Russell 2000</td><td>-0.89%</td><td>2,049.94</td></tr></tbody></table></figure>



Insights From Analysts



"No rate change is expected," noted senior economist at WisdomTree, Jeremy Siegel ahead of the Federal Reserve&#8217;s decision, adding that the dot plot will be updated. The market is pricing in two rate cuts this year, he says, but he's "not convinced that the Fed will fully signal that just yet."



Furthermore, Siegel anticipates Powell will face intense scrutiny regarding declining market sentiment and inflation concerns.



He believes market direction hinges on the tariff situation; further escalation by President Donald Trump could trigger a significant downturn, potentially a &#8220;bear market&#8221;. Regarding Big Tech, Siegel argues current valuations, excluding Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), are high but not bubble-like, unlike the 2000 tech boom.



&#8220;For now, tariffs remain the dominant market force. The path forward depends on how Trump navigates trade policy—any softening would be bullish for equities, while continued escalation would put further downside pressure on stocks,&#8221; Siegel added.



&#8220;We don't expect any surprises at this week&#8217;s FOMC meeting, with the Fed likely holding the federal funds rate in the 4.25% to 4.5% range,&#8221; said Collin Martin, director, of fixed income strategy at the Schwab Center for Financial Research



&#8220;With growth concerns now making the most headlines, Fed Chairman Powell will likely be asked about the balance of risks given that all of the uncertainty out there could weigh on the labor market. We still expect rate cuts later this year, likely in the second half,&#8221; said Martin



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>FOMC will announce its decision on interest rates at 2:00 p.m., and Federal Reserve Chairman Jerome Powell will address a press conference at 2:30 p.m., ET.</li>
</ul>



Stocks In Focus:



<ul>
<li>Signet Jewelers Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIG#NYSE">SIG</a>) was up 0.31% in premarket on Wednesday ahead of its earnings before the opening bell. Analysts expect earnings of $6.25 per share on revenue of $2.33 billion.</li>
</ul>



<ul>
<li>Williams-Sonoma Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>) advanced 1.17% as Wall Street expects it to report earnings of $2.93 per share on revenue of $2.35 billion before the opening bell.</li>
</ul>



<ul>
<li>Five Below Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>) rose 1.26% ahead of its earnings after the closing bell. Analysts expect earnings of $3.38 per share on revenue of $1.39 billion.</li>
</ul>



<ul>
<li>Healthequity Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HQY#NASDAQ">HQY</a>) slumped 13.09% after it posted downbeat earnings for its fourth quarter on Tuesday.</li>
</ul>



<ul>
<li>StoneCo Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STNE#NASDAQ">STNE</a>) jumped 8.02% after reporting better-than-expected fourth-quarter earnings and sales results.</li>
</ul>



<ul>
<li>Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) was 2.01% higher after it announced an AI server lineup with new Nvidia GPU support.</li>
</ul>



<ul>
<li>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) gained 1.06% ahead of the second day of the GTC AI conference.</li>
</ul>



<ul>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) climbed 2.96% after receiving approval for rolling out its first Robotaxi in California.</li>
</ul>



<ul>
<li>TEN Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XHLD#NASDAQ">XHLD</a>) surged 33.63% after it announced that it would initiate a $1 million stock repurchase program on March 17, 2025, with no set end date, funded by operating cash and subject to market conditions.</li>
</ul>



<ul>
<li>5E Advanced Materials Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FEAM#NASDAQ">FEAM</a>) plunged 20.72% after it announced a resale of up to 20.63 million common shares by stockholders; the company will receive no proceeds and will cover all the expenses.</li>
</ul>



Commodities, Gold And Global Equity Markets:



Crude oil futures were trading lower in the early New York session by 0.63% to hover around $66.33 per barrel.



The gold spot index was down by 0.12% to $3,030.36 per ounce. Its last record high was at $3,045.39 per ounce. The Dollar Index was up by 0.35% at the 103.608 level.



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



Read Next:



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<li><a href="https://www.benzinga.com/25/03/44392370/nvidia-destroys-420-billion-of-investor-wealth-since-deepseek-launch-valuation-hits-a-29-month-low-as-gtc-fails-to-ignite-stock">Nvidia Loses $420 Billion In Market Capitalization Since DeepSeek Launch, Valuation Hits A 29-Month Low As GTC Fails To Ignite Stock</a></li>
</ul>



Photo courtesy: Shutterstock

Government

Market Summary

Futures

Pre-Market Outlook

FEAM

FIVE

PLTR

STNE

XHLD

US Stocks Likely To Open Higher Ahead Of FOMC Decision: 'Tariffs Remain The Dominant Market Force' Amid Rising Economic Uncertainty, Says Expert

Gilead Sciences Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>) stock is trading lower during the premarket trading session on Wednesday.



According to a Tuesday report in the Wall Street Journal, the Health and Human Services Department (HHS) is considering substantial reductions in federal funding for <a target="_blank" href="https://www.benzinga.com/general/health-care" rel="noreferrer noopener">domestic HIV prevention</a>.



According to people familiar with the matter, the WSJ reports that the plans could be announced within a day. However, they are not final and could still be changed or canceled.



Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/25/03/44283318/gilead-presents-new-hiv-treatment-and-cure-research-data" rel="noreferrer noopener">Gilead Presents New HIV Treatment And Cure Research Data</a>



The Centers for Disease Control and Prevention (CDC) has a department focused on preventing HIV and other infectious diseases. It provides funding for state and local programs, including HIV tracking, syringe services, and community outreach, the WSJ writes.



Meanwhile, the Trump administration is planning significant staff cuts at the CDC as part of a broader reorganization, according to WSJ sources. The agency's structure makes it vulnerable to such changes since no single law defines its mission or programs.



Mitchell Warren, executive director of HIV prevention group AVAC, says the CDC's pre-exposure prophylaxis (PrEP) program could be reduced or cut. Launched last fall as a pilot program, it provides free medication to help prevent HIV.



PrEP&nbsp;is used by people who are HIV-negative and at high risk of being exposed to HIV infection.



In 2021, the FDA approved ViiV Healthcare's Apretude, the first injectable form of PrEP <a target="_blank" href="https://www.benzinga.com/24/12/42468692/gilead-unveils-new-yearly-hiv-injection-to-offer-hope-for-less-frequent-preventive-dosing" rel="noreferrer noopener">administered every two months</a>. ViiV Healthcare is owned by Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>), and Shinogi Ltd.



In 2023, the agency <a target="_blank" href="https://www.cdc.gov/nchhstp/budget-funding/index.html#cdc_program_funding_fund_by_cat-how-is-cdc-funding-used-for-hiv-viral-hepatitis-stis-tuberculosis-prevention" rel="noreferrer noopener">allocated</a> approximately $1.3 billion to combat HIV, viral hepatitis, sexually transmitted infections, and tuberculosis. Roughly 75% of those funds support state and local health departments, nonprofits, and other organizations engaged in disease prevention and outbreak response.



"No final decision on streamlining CDC's HIV Prevention Division has been made," the WSJ report <a target="_blank" href="https://www.wsj.com/health/healthcare/trump-administration-weighing-major-cuts-to-funding-for-domestic-hiv-prevention-8dcad39b" rel="noreferrer noopener">added</a>, citing the department's spokesman.



Gilead filed for regulatory approval of lenacapavir for PrEP (twice a year) last year and expects a potential <a target="_blank" href="https://www.benzinga.com/general/biotech/25/02/43673047/gilead-ups-2025-outlook-eyes-lenacapavir-launch-for-hiv-prevention" rel="noreferrer noopener">commercial launch in 2025</a>.&nbsp;



Gilead also&nbsp;revealed that it is developing a once-yearly injectable formulation for lenacapavir. In its investor presentation, the company expects&nbsp;the pivotal Phase 3 pharmacokinetics study's first patient to be in 2025, and potential regulatory filings will <a target="_blank" href="https://www.benzinga.com/24/12/42468692/gilead-unveils-new-yearly-hiv-injection-to-offer-hope-for-less-frequent-preventive-dosing" rel="noreferrer noopener">begin in late 2027</a>.



Price Action: At the last check on Wednesday, GILD stock was down 2.02% at $108 during the premarket session.



Read Next:



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<li><a href="https://www.benzinga.com/25/03/44393734/siemens-to-slash-6000-jobs-as-demand-slows-in-germany-and-china" target="_blank" rel="noreferrer noopener">Siemens To Slash 6,000 Jobs As Demand Slows In Germany And China</a></li>
</ul>

Biotech

Health Care

Media

GILD

Trump Administration Weighs Deep Cuts To Domestic HIV Prevention Programs, Gilead Stock Slides

Editor&#8217;s Note: The story has been corrected to reflect a $600 billion drop in Nvidia&#8217;s market cap.



At the GTC 2025 conference in San Jose, Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) announced that the company's newly released open-source software, Dynamo, can make China's DeepSeek R1 AI model 30 times faster when run on its latest Blackwell GPU chips.



What Happened: During a media <a href="https://fortune.com/2025/03/18/nvidia-ceo-jensen-huang-gtc-deepseek-sap-center-gpu-tech-artificial-intelligence-ai/">briefing</a> ahead of CEO Jensen Huang's keynote, Ian Buck, Nvidia's head of hyperscale and high-performance computing said, &#8220;Dynamo can capture that benefit and deliver 30 times more performance in the same number of GPUs in the same architecture for reasoning models like DeepSeek.&#8221;



Dynamo distributes AI workloads across up to 1,000 GPUs to boost throughput and performance. It is available now on GitHub.



See Also:&nbsp;<a href="https://www.benzinga.com/news/management/25/01/43274796/jensen-huang-loses-20b-in-wealth-how-deepseek-hit-nvidia-stock-and-worlds-richest-people" target="_blank" rel="noreferrer noopener">Jensen Huang Loses $20B In Wealth: How DeepSeek Hit Nvidia Stock And World&#8217;s Richest People</a>



The announcement comes just two months after DeepSeek R1 rattled investors by demonstrating how advanced AI models could reduce computing needs, leading to a <a href="https://in.benzinga.com/25/02/43876025/nvidia-ceo-attributed-the-deepseek-led-sell-off-to-investor-misconception-on-ai-spending-obviously-that-paradigm-is-wrong">$600 billion drop</a> in Nvidia's market cap.



Nvidia says Dynamo, combined with the memory-rich Blackwell Ultra chips and Grace CPUs, will allow AI data centers—what it calls "AI factories"—to run significantly more queries per second or offer premium services at higher margins.



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's Important: Nvidia is looking to reframe the narrative around increasingly efficient AI models like DeepSeek, which initially raised fears of slowing demand for its chips.&nbsp;



Since the launch of DeepSeek in January 2025, Nvidia has experienced a significant decline in market capitalization, <a href="https://in.benzinga.com/25/03/44392370/nvidia-destroys-420-billion-of-investor-wealth-since-deepseek-launch-valuation-hits-a-29-month-low-as-gtc-fails-to-ignite-stock">losing $420 billion</a>. This decline has now been exacerbated by a lackluster response to announcements made at the GTC AI Conference.



In addition to the Dynamo software, Huang also <a href="https://in.benzinga.com/tech/25/03/44383445/nvidia-ceo-jensen-huang-announces-gm-partnership-the-time-for-autonomous-vehicles-has-arrived">revealed a partnership</a> with General Motors Co. to advance autonomous vehicle technology at GTC.



He also said that Nvidia is <a href="https://www.benzinga.com/tech/25/03/44390580/nvidia-just-unveiled-a-humanoid-ai-brain-which-allows-robots-to-think-slow-jensen-huang-says-this-could-very-well-likely-be-the-largest-industry-of-all">expanding its focus</a> on embodied AI, introducing the Groot N1 model for humanoid robots, which could potentially revolutionize the industry.



Price Action: On Tuesday, Nvidia's stock dropped 3.43%, closing at $115.43. In the pre-market session on Wednesday, it gained 1.36%, reaching $117 at the time of writing. Year-to-date, the company's shares have fallen 16.54%, according to <a href="http://pro.benzinga.com/">Benzinga Pro</a>.



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



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</ul>



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



Photo courtesy: Shutterstock

Nvidia Says Dynamo Can Make DeepSeek R1 30X Faster With Blackwell, Months After The AI Model Sparked Selloff Leading To A $600 Billion Drop In Its Market Cap (CORRECTED)

Deepwater Asset Management managing partner Gene Munster highlighted five key takeaways from NVIDIA Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) recent keynote presentation, emphasizing that the artificial intelligence buildout remains in its early stages <a href="https://www.benzinga.com/tech/25/03/44383445/nvidia-ceo-jensen-huang-announces-gm-partnership-the-time-for-autonomous-vehicles-has-arrived">despite investor skepticism</a>.



What Happened: CEO Jensen Huang dedicated about a third of his two-hour-plus keynote to emphasizing that the AI infrastructure buildout is still in its early stages, Munster said noting that Nvidia shares traded down 2.5% during the presentation compared to Nasdaq&#8217;s 0.2% decline. &#8220;Investors are still skeptical given NVDA trades at 20x CY26 EPS. I buy it.&#8221;



Munster pointed to Huang&#8217;s confident stance on demand, as evidenced by the Nvidia CEO&#8217;s suggestion that customers need not purchase current-generation Hopper GPUs with Blackwell, which are now available. 



The keynote featured expected product announcements including Blackwell Ultra, Rubin, and co-packaged optics technology that enables data centers to deploy more GPUs.



Nvidia has consistently delivered around a 4x increase in AI computing power across generations, from Hopper in 2022 to Blackwell in 2024 and the anticipated Rubin in 2026. Notably, Gene Munster pointed out that &#8220;Rubin Ultra will require about 4.5x the power compared to Blackwell,&#8221; calling it &#8220;Good for&#8221; Vertiv Holdings Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>).



See Also: <a href="https://www.benzinga.com/25/03/44389618/trump-press-secretary-blasted-by-french-mep-over-statue-of-liberty-reaction-if-hundreds-of-thousands-of-young-americans-had-not-landed-on-our-beaches">Trump Press Secretary Blasted By French MEP Over Statue Of Liberty Reaction: &#8216;If Hundreds Of Thousands Of Young Americans Had Not Landed On Our Beaches&#8230;&#8217;</a>



Why It Matters: During the keynote, Huang <a href="https://www.benzinga.com/news/large-cap/25/03/44389027/tesla-takes-another-hit-with-nvidia-gm-self-driving-partnership">announced a partnership</a> with General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) for autonomous vehicles, declaring &#8220;The time for autonomous vehicles has arrived.&#8221; The collaboration includes factory planning, robotics, advanced driver-assistance systems, and in-cabin safety features built on Nvidia&#8217;s Blackwell architecture.



Munster remained skeptical about GM&#8217;s autonomous driving prospects, writing, &#8220;I&#8217;d be surprised if anything significant comes from GM&#8217;s autonomy efforts, given they <a href="https://www.benzinga.com/tech/24/12/42429588/gms-cruise-exit-draws-sharp-reaction-from-co-founder-kyle-vogt-tesla-ceo-elon-musk-says-autonomous-driving-is-a-very-hard-problem">shut down Cruise back in December</a>.&#8221; Catching up to Alphabet Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Google-backed Waymo and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is &#8220;difficult in what is largely a winner-takes-most market.&#8221;



Investor focus now shifts to late April earnings reports from Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Alphabet Inc., Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) for further insights into AI market momentum.



Read Next: 



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<li><a href="https://www.benzinga.com/general/gaming/25/03/44387858/sam-altman-wants-to-get-rid-of-ai-bots-in-video-games-heres-the-why-and-how">Sam Altman Wants To Get Rid Of AI Bots In Video Games: Here&#8217;s The Why And How</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.

AMZN

GOOG

GOOGL

MSFT

Nvidia AI Boom Just Beginning As Blackwell Gains Traction And Rubin Ultra Raises The Power Bar, Says Gene Munster: 'Investors Are Still Skeptical'

The Bank of Japan unanimously voted Wednesday to maintain its benchmark interest rate at 0.5%, as policymakers weigh potential economic impacts from U.S. tariff policies under President Donald Trump&#8216;s administration while monitoring domestic inflation that remains above target.



What Happened: The decision comes as Japan&#8217;s Nikkei 225 index rose 0.62% to 38,081.23, while the yen held relatively steady at 149.31 against the dollar.



&#8220;Japan&#8217;s economy has recovered moderately, although some weakness has been seen in part,&#8221; the BOJ said in its statement, noting that underlying inflation pressures continue with consumer prices rising at 3.0-3.5% recently, well above the central bank&#8217;s 2% target.



The central bank highlighted &#8220;high uncertainties&#8221; surrounding Japan&#8217;s economic outlook, specifically mentioning &#8220;evolving situation regarding trade and other policies in each jurisdiction.&#8221;



See Also: <a href="https://www.benzinga.com/news/econ-s/25/03/44386583/speculators-trim-2025-rate-cut-bets-ahead-of-march-fed-meeting-as-inflation-risks-rise">Speculators Trim 2025 Rate-Cut Bets Ahead Of March Fed Meeting As Inflation Risks Rise</a>



Why It Matters: The BOJ&#8217;s cautious stance mirrors market uncertainties ahead of Wednesday&#8217;s Federal Reserve meeting, where U.S. policymakers are <a href="https://in.benzinga.com/analyst-ratings/analyst-color/24/11/42030455/should-you-subscribe-to-ntpc-green-energy-ipo-check-analysts-calls-latest-gmp">expected to hold rates steady</a> while potentially raising inflation forecasts to account for new tariffs.



Fed funds futures currently indicate expectations for three rate cuts by December, though analysts are increasingly skeptical about this timeline. Speculators have trimmed rate-cut bets, with Kalshi market data showing the most favored scenario now anticipates just two cuts, <a href="https://in.benzinga.com/news/econ-s/25/03/44386583/speculators-trim-2025-rate-cut-bets-ahead-of-march-fed-meeting-as-inflation-risks-rise">carrying a 24% probability</a>.



The yen, which experienced sharp volatility last year including a 38-year low against the dollar in July 2024, has stabilized somewhat following the BOJ&#8217;s rate <a href="https://www.benzinga.com/markets/asia/24/09/40951221/bank-of-japan-leaves-interest-rate-at-0-25-diverging-from-feds-50-basis-point-cut">increase to 0.25% last July</a>. 



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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.

Asia

Federal Reserve Next Up As Japan Maintains Rates Despite Inflation And Trump Tariff Concerns

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



U.S. stocks settled lower on Tuesday, with the Nasdaq Composite falling around 300 points during the session. Shares of Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) fell around 4%, while Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) declined more than 3% on Tuesday. The Technology Select Sector SPDR Fund also fell more than 1% during the session.



On the economic data front, U.S. import prices increased by 0.4% in February, versus market estimates of a 0.1% decline. U.S. export prices rose by 0.1% month-over-month in February. U.S. industrial production increased by 0.7% in February, surpassing market estimates of 0.2%.



Most sectors on the S&amp;P 500 closed on a negative note, with communication services, information technology, and consumer discretionary stocks recording the biggest losses on Tuesday. However, energy and healthcare stocks bucked the overall market trend, closing the session higher.



The Dow Jones closed lower by around 260 points to 41,581.31 on Tuesday. The S&amp;P 500 fell 1.07% to 5,614.66, while the Nasdaq Composite dipped 1.71% to 17,504.12 during Tuesday's session.



Investors are awaiting earnings results from Signet Jewelers Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIG#NYSE">SIG</a>), Williams-Sonoma Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>), and Five Below Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 19.7, the index remained in the &#8220;Extreme Fear&#8221; zone on Tuesday, versus a prior reading of 22.4.



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



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Nasdaq Falls 300 Points As Nvidia, Palantir Decline: Greed Index Remains In 'Extreme Fear' Zone

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