Wall Street soared Monday, kicking off the week in full risk-on mode as investors welcomed signs of easing trade tensions and <a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44459470/us-business-activity-rebounds-as-services-growth-outpaces-forecasts-yet-cost-pressures-intensify">stronger-than-expected economic data. </a>



President Donald Trump&#8216;s softer tone on potential tariffs ahead of the looming April 2, 2025 deadline helped calm nerves. Adding to the optimism, fresh business surveys showed a strong rebound in services activity in March, easing recession worries.



U.S. economic activity accelerated in March, with the Composite Purchasing Managers' Index (PMI) rising rom 51.6 in February to to 53.5. Services PMI jumped to 54.3 — well above consensus forecasts of 50.8 and sharply higher than the prior month's 51.0 reading. Yet, the report also flagged a notable uptick in cost pressures, as businesses reported growing concerns over input prices, likely linked to heightened speculation around potential tariff measures.



The S&amp;P 500 jumped 1.75% by midday in New York, on track for its best one-day performance since mid-January. The Nasdaq 100 rallied 2%, mirroring gains from March 14 — the index's strongest day since early November 2024.



Small caps outperformed their large-cap peers, underscoring the market's improving risk appetite. The Russell 2000 surged 2.8%, marking its best session since the post-election rally on Nov. 6, 2024.



Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) led the charge on both the S&amp;P 500 and Nasdaq 100, soaring 9.8%, on track for its sharpest one-day gain since early November.



All seven mega-cap tech stocks posted solid gains, with the Roundhill Magnificent Seven ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NYSE">MAGS</a>) climbing 2.9% after Friday's 1.4% rise, setting up what could be its strongest two-day advance since early January.



Every S&amp;P 500 sector, except utilities, traded in positive territory, with consumer discretionary and technology leading the pack.



The U.S. dollar index edged higher, eyeing a fourth consecutive session of gains. Meanwhile, Treasury yields spiked across the curve as investors rotated out of safe-haven assets. The 10-year yield jumped seven basis points to 4.32%, while the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) dropped 0.9%.



Gold pulled back 0.3% to $3,014 per ounce, on pace for its third straight decline, as investors favored riskier assets.



Oil prices gained 1.5% after Trump threatened a 25% tariff on <a href="https://www.benzinga.com/government/regulations/25/03/44460897/oil-prices-rally-exxon-hits-16-week-highs-as-trump-vows-25-tariffs-on-any-country-buying-venezuelan-crude">countries importing Venezuelan crude.</a>



Crypto-related assets also rallied. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) climbed 2.7% to $88,400, while MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) jumped 7.4% and Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) rose 6.2%.



<h1 class="wp-block-heading">Monday&#8217;s Performance In Major U.S. Indices, ETFs</h1>



<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> Russell 2000</td><td>2,104.07</td><td>2.3%</td></tr><tr><td> Nasdaq 100</td><td>20,160.42</td><td>2.1%</td></tr><tr><td> S&amp;P 500</td><td>5,762.34</td><td>1.7%</td></tr><tr><td> Dow Jones</td><td>42,589.04</td><td>1.4%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated at 12:20 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>) rose 1.8% to $573.92.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 1.3% to $425.30.</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;rallied 2% to $490.39.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) soared 2.4% to $208.59</li>



<li>The&nbsp;Consumer Discretionary&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) outperformed, up 2.7%; the&nbsp;Utilities&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) lagged, down 0.2%.</li>
</ul>



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



<ul>
<li>Shares of Chinese electric-vehicle giant BYD Co. Ltd. (OTCPK: BYDDY) rallied 5.5% in over-the-counter markets amid stronger-than-expected quarterly earnings. The carmaker is now up 60% year-to-date. </li>



<li>Shares of Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) soared 7.3%, eyeing their biggest one-day jump since February 2024, as Chinese conglomerate Ant Group is increasingly shifting to domestic and AMD chips amid exports controls. </li>



<li>Airline and travel-related stocks rallied substantially amid easing recession fears. United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>), Delta Air Lines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) and Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>) were up 5.7%, 4.2% and 4%, respectively. </li>
</ul>



Read now: 



<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/03/44458099/us-economy-faces-fork-in-the-road-is-yardenis-roaring-2020s-still-possible">US Economy Faces &#8216;Fork In The Road&#8217;: Is Yardeni&#8217;s &#8216;Roaring 2020s&#8217; Still Possible?</a></li>
</ul>



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TSLA

S&P 500 Rallies On Best Day In 2 Months As Recession Fears Ease, Tesla Rockets, Bitcoin Hits $88,000: What's Driving Markets Monday?

Crude prices surged and energy stocks rose Monday after President Donald Trump vowed to slap a sweeping 25% tariff on any country that imports Venezuelan oil, signaling renewed geopolitical tensions <a href="https://www.benzinga.com/topic/oil">in global energy markets.</a>



West Texas Intermediate light crude, as closely tracked by the United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), rose over 1% to $69 per barrel, touching a three-week high.



"Any country that purchases Oil and/or Gas from Venezuela will be forced to pay a Tariff of 25% to the United States on any Trade they do with our Country," Trump said, adding that enforcement would begin next month and be "registered and documented."



The statement came via a <a href="https://truthsocial.com/@realDonaldTrump/posts/114217914259825110">post </a>on Truth Social, where the former president accused Venezuela of sending violent criminals to the United States and branded the Tren de Aragua gang as a &#8220;Foreign Terrorist Organization.&#8221;



Trump added that the proposed secondary tariffs would go into effect on April 2, what he called "Liberation Day in America."



Read also: <a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44459470/us-business-activity-rebounds-as-services-growth-outpaces-forecasts-yet-cost-pressures-intensify">US Business Activity Rebounds As Services Growth Outpaces Forecasts, Yet Cost Pressures Intensify</a>



Venezuela's oil exports have risen in recent years, and they remain a crucial revenue source for the embattled regime of Nicolás Maduro. 



According to Reuters, Venezuela exported 772,000 barrels a day of crude last year, marking a 10% increase from a year earlier. China is widely considered the largest purchaser of Venezuelan crude, though much of the oil arrives through indirect routes or intermediaries that obscure its origin to sidestep international sanctions.



Beyond geopolitics, U.S. economic data on Monday gave oil another push. Business activity surveys in March came in stronger than expected, easing recession fears but raising concerns that input costs may be accelerating again.



<h3 class="wp-block-heading">US Energy Stock Reactions</h3>



The oil rally ignited gains across the energy sector. Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) rose 1.1% to $116.75 by 11:15 a.m. in New York, reaching its highest level price since early December. Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) added 0.4%, while ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>) gained 0.6%.



The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) climbed 0.6%, extending its year-to-date gain to 7.8%—the best performance among all S&amp;P 500 sectors in 2025.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/03/44458099/us-economy-faces-fork-in-the-road-is-yardenis-roaring-2020s-still-possible">US Economy Faces &#8216;Fork In The Road&#8217;: Is Yardeni&#8217;s &#8216;Roaring 2020s&#8217; Still Possible?</a></li>
</ul>



Photo: Shutterstock

Latin America

Oil Prices Rally, Exxon Hits 16-Week Highs As Trump Vows 25% Tariffs On Any Country Buying Venezuelan Crude

Police in Austin, Texas, discovered multiple &#8220;incendiary&#8221; devices at a Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) showroom <a href="https://www.benzinga.com/general/entertainment/25/03/44461252/tesla-stock-soars-monday-could-a-new-documentary-about-elon-musks-political-influence-pour-cold-water-on-momentum">on Monday morning.</a>



What To Know: The FBI is assisting Austin Police in their investigation, CNBC <a href="https://www.cnbc.com/2025/03/24/tesla-musk-showroom-in-texas-targeted-with-incendiary-devices-police-say.html">reports</a>. Authorities responded to the scene around 8 a.m. local time, calling in the Austin Police Department Bomb Squad to handle the devices, which were safely taken into police custody without incident. Officials have not identified any suspects, and the investigation remains ongoing.



The news comes after a <a href="https://www.benzinga.com/markets/equities/25/03/44434973/tesla-record-highest-trade-ins-amid-backlash-against-ceo-elon-musk-surge-in-vandalism">series of incidents</a> targeting Tesla locations. The electric vehicle company has faced increasing criticism, partly due to CEO Elon Musk's political affiliations and role in the Trump administration.



Read Also: <a href="https://www.benzinga.com/trading-ideas/technicals/25/03/44460563/tesla-jumps-10-on-china-fsd-optimism-tariff-easing-hopes">Tesla Jumps 10% On China FSD Optimism, Tariff Easing Hopes</a>



Musk currently leads DOGE, the <a href="https://www.benzinga.com/25/03/44447947/big-short-investor-danny-moses-warns-of-economic-risks-from-elon-musks-doge-induced-federal-job-cuts">administration's initiative</a> to reduce federal spending and government workforce numbers. The timing of the incident coincided with Musk's attendance at a White House Cabinet meeting with President Donald Trump.



What Else: Despite speculation by Musk and Trump that recent vandalism against Tesla is part of a coordinated effort, law enforcement agencies have found no evidence supporting these claims, according to NBC News.



At least 10 Tesla locations have been targeted, with reports of arson, vandalism and damage to Tesla vehicles circulating on social media. A website has also published a map of Tesla owners and facilities, though its origins remain unclear.



Read Also: <a href="https://www.benzinga.com/markets/25/03/44450464/fbi-alerts-public-over-increasing-tesla-property-attacks">FBI Alerts Public Over Increasing Tesla Property Attacks</a>



Last Thursday, Musk alleged on his platform X that the <a href="https://www.benzinga.com/markets/equities/25/03/44455245/tesla-vandalism-no-coordinated-efforts-detected-experts-dispute-elon-musk-and-trumps-allegations">attacks were &#8220;coordinated.&#8221;</a> Trump further amplified these claims in a Fox News interview, calling the acts &#8220;domestic terrorism&#8221; and blaming left-wing political groups, though he provided no evidence.



Attorney General Pam Bondi has <a href="https://www.benzinga.com/markets/equities/25/03/44455245/tesla-vandalism-no-coordinated-efforts-detected-experts-dispute-elon-musk-and-trumps-allegations">announced charges</a> against three individuals in separate states—Oregon, South Carolina and Washington—but federal agencies, including the FBI and ATF, maintain that the attacks appear to be the work of lone offenders rather than an organized campaign.



Implications For Tesla and Its Owners: The rising number of vandalism cases has financial consequences for Tesla and its customers. Experts warn that the trend could lead to <a href="https://www.benzinga.com/markets/equities/25/03/44455245/tesla-vandalism-no-coordinated-efforts-detected-experts-dispute-elon-musk-and-trumps-allegations">increased insurance premiums</a> for Tesla vehicles.



Additionally, there has been a notable increase in Tesla trade-ins, potentially linked to backlash against Musk's political stances. Federal agencies have <a href="https://www.benzinga.com/markets/25/03/44450464/fbi-alerts-public-over-increasing-tesla-property-attacks">issued warnings</a> about the growing frequency of these incidents, urging Tesla owners to remain cautious.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/03/44458099/us-economy-faces-fork-in-the-road-is-yardenis-roaring-2020s-still-possible" target="_blank" rel="noreferrer noopener">US Economy Faces ‘Fork In The Road': Is Yardeni's ‘Roaring 2020s' Still Possible?</a></li>
</ul>



Photo: Shutterstock

News

Politics

Tesla Showroom Targeted In Austin As Vandalism Escalates

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock is roaring back after a steep decline, surging over 10% on Monday morning as buyers stepped in following <a href="https://www.benzinga.com/quote/TSLA/news">a recent pullback</a>. 



The stock had been under heavy selling pressure, but renewed enthusiasm around its <a href="https://www.benzinga.com/25/02/43932533/tesla-starts-rolling-out-fsd-features-in-china">Full Self-Driving (FSD) rollout in China</a>, easing tariff concerns, and technical support levels appear to be fueling the rebound.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="618" height="487" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/24103818/Screenshot-2025-03-24-at-8.05.39-PM.png" alt="" class="wp-image-838686" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/24103818/Screenshot-2025-03-24-at-8.05.39-PM.png 618w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/24103818/Screenshot-2025-03-24-at-8.05.39-PM-300x236.png 300w" sizes="(max-width: 618px) 100vw, 618px" /></a></figure>



<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>



<h2 class="wp-block-heading">TSLA Stock: Buyers Step In, But Challenges Remain</h2>



Despite Monday's 10% pop, Tesla's stock is down 28% year to date and 17% over the past month. The bearish setup is undeniable:



<ul>
<li>Tesla stock trades below its five-day, 20-day and 50-day exponential moving averages.</li>



<li>The eight-day simple moving average (SMA) of $243.48 and 20-day SMA of $258.95, signal some bullish momentum, with the current price at $273.00.</li>



<li>However, Tesla's 50-day SMA ($332.89) and 200-day SMA ($284.66) all point to a bearish trend.</li>



<li>The Moving Average Convergence Divergence (MACD) indicator at a negative 24.83 reinforces the bearish sentiment.</li>



<li>The Relative Strength Index (RSI) has risen back at 48.01, suggesting Tesla stock seems to have dodged the oversold territory, for now at least.</li>
</ul>



Read Also: <a href="https://www.benzinga.com//node/44459470">US Business Activity Rebounds As Services Growth Outpaces Forecasts, Yet Cost Pressures Intensify</a>



<h2 class="wp-block-heading">FSD In China &amp; Tariff Relief: Key Catalysts</h2>



Tesla's FSD rollout in China could provide a much-needed catalyst for further upside. While sales were expected, the big question is whether Chinese consumers will pay a premium for it, given that local rival BYD Co Ltd (OTCPK:BYDDF) offers driver-assist tech for free. If FSD adoption gains momentum, it could significantly boost Tesla's competitive position in the region.



Additionally, investors are cheering reports that former President Donald Trump is backing off some broad tariff threats made just weeks ago. The potential easing of trade tensions is seen as a positive for Tesla, which has significant exposure to China's electric vehicle market.



<h2 class="wp-block-heading">What's Next For TSLA?</h2>



Tesla's ability to sustain its rally will likely depend on whether buying pressure continues, and if fundamental catalysts such as the FSD launch and tariff relief can outweigh bearish technical signals. The upcoming first-quarter delivery report on April 2 will be another key moment for investors to watch.



With strong early trading momentum and buyers stepping in, Tesla's recovery is gaining traction. The next test? 



Whether this surge can break through key resistance levels and turn the tide for good.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com//node/44458804">Elon Musk 10 Years Ago Called Autonomous Driving &#8216;A Solved Problem&#8217;—Said &#8216;We Will Be There In A Few Years&#8217;</a></li>
</ul>



Image created using artificial intelligence via Midjourney.

Technicals

Trading Ideas

BYDDF

Tesla Jumps 10% On China FSD Optimism, Tariff Easing Hopes

The U.S. economy stands at a critical juncture. Mounting recession fears are colliding with the possibility of a technology-fueled productivity boom that could reshape the decade and power the stock <a href="https://www.benzinga.com/markets">market to new heights.</a>



In a note shared Monday, Ed Yardeni, one of Wall Street's most enduring bulls, said the U.S. economy faces "a fork in the road." The Yardeni Research president gives a 65% probability of a so-called Roaring 2020s scenario and a 35% chance of a more stagnant, stagflationary outcome, including a recession.



"We've decided to fold our 1990s meltup/meltdown scenario into our Roaring 2020s scenario," Yardeni said. 



"The current correction in the stock market suggests that the former has played out already, as the bull market's highflyers have been hit hardest."



<h3 class="wp-block-heading">What's Behind The Current Market Correction?</h3>



Markets have clearly been rattled. The S&amp;P 500 index — as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) — has declined 10.1% from its Feb. 19 peak through Mar. 13, while the Nasdaq 100, tracked by the Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), has slid 11.8% since its Dec. 16 high.



&#8220;The Magnificent-7 stocks led the recent rout,&#8221; Yardeni said.



The Roundhill Magnificent Seven ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NYSE">MAGS</a>)—tracking the elite group of tech giants like Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Amazon Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) —has dropped 18.8% from its Dec. 17 peak.



This contrasts with the Defiance Large Cap ex-Mag 7 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXMAGS#NYSE">EXMAGS</a>), often referred to as the "S&amp;P 493," which is down just 6% since mid-February. The sharper decline in tech mega caps signals that the stock market correction is concentrated among prior highflyers.



These types of corrections—defined as 10%-20% pullbacks—typically reflect rising fears of an economic downturn.



Yet Yardeni stressed that forward earnings for the S&amp;P 500 continue to hit record highs, suggesting that Wall Street analysts remain more optimistic than investors. That divergence, he said, can be attributed to analysts being closely tied to corporate guidance, which often downplays macro fears.



<h3 class="wp-block-heading"> Two-Sided Outlook: Stagflation Or Productivity Boom?</h3>



Yardeni raised his recession probability to 35% earlier this month, attributing the increase to a "Trump Turmoil 2.0" characterized by tariff threats and political instability. Yet, his base case remains anchored in optimism.



In his Roaring 2020s scenario, Yardeni sees real GDP growth fueled by a 2% annual increase in productivity and labor force growth of 0.5%-1%, supporting potential economic expansion of 2.5%-3% annually. 



That would keep inflation in check, lift profit margins, boost wages and purchasing power, and ultimately push the S&amp;P 500 to 10,000 by the decade&#8217;s end.



"This includes the possibility of a rebound in the former highflyers," Yardeni said, suggesting tech stocks could still have room to run once market jitters subside.



<h3 class="wp-block-heading">What The Fed And Markets Are Pricing In</h3>



The Federal Reserve's March dot plot revealed that policymakers are still anticipating two rate cuts in 2024, followed by two in 2025 and one more in 2027. 



The longer-run federal funds rate remains anchored at 3%. These projections, along with the downgrade in real GDP forecasts to 1.7% for 2025, reflect the Fed's view of a soft landing. They also acknowledge the economic drags coming from tighter fiscal policy and potential trade disruptions.



Fed officials trimmed their real GDP growth expectations across the board: 



<ul>
<li>from 2.1% to 1.7% for 2025</li>



<li>from 2.0% to 1.8% for 2026, and</li>



<li>from 1.9% to 1.8% for 2027.</li>
</ul>



The Fed also raised its inflation forecast for core personal consumption expenditures, the central bank's preferred inflation gauge, to 2.8% for year-end 2024, up from 2.5% in December.



Kalshi, a prediction market regulated by the Commodity Futures Trading Commission, shows a 40% probability of a U.S. recession in 2025. That&#8217;s slightly higher than Yardeni's 35% estimate. These odds have ticked higher recently, mirroring growing concern over macro headwinds and geopolitical noise.



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



Now Read: 



<ul>
<li><a href="https://www.benzinga.com/markets/25/03/44449088/buffetts-berkshire-hathaway-outpaces-s-p-500-with-best-2-month-run-since-2010">Buffett&#8217;s Berkshire Hathaway Outpaces S&amp;P 500 With Best 2-Month Run Since 2010</a></li>
</ul>



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US Economy Faces 'Fork In The Road': Is Yardeni's 'Roaring 2020s' Still Possible?

Officials from the U.S. and Russia have commenced discussions in Saudi Arabia. The goal of these talks is to establish a comprehensive ceasefire in Ukraine and a distinct Black Sea maritime agreement.



What Happened: These talks come on the heels of U.S. negotiations with Ukraine that took place in Saudi Arabia on Sunday. The discussions are a part of U.S. President Donald Trump&#8216;s escalated efforts to resolve the conflict that has been ongoing for three years. The U.S. delegation is spearheaded by Andrew Peek, a senior director at the White House National Security Council, and Michael Anton, a senior State Department official, reported the Reuters on Monday.



The talks primarily aim to secure a maritime ceasefire in the Black Sea to enable free shipping. Russia&#8217;s delegation features Grigory Karasin, the chair of the Foreign Affairs Committee in the upper house of parliament, and Sergei Beseda, an adviser to the Federal Security Service&#8217;s director.



Trump has expressed satisfaction with the progress of the talks and lauded Russian President Vladimir Putin&#8216;s involvement. However, major European powers remain doubtful about Putin&#8217;s readiness to make significant concessions.



The talks also aim to discuss &#8220;the line of control&#8221; between the two countries, peacekeeping, and &#8220;confidence-building measures,&#8221; including the repatriation of Ukrainian children taken by Russia.



About Ukraine honoring the terms of the Black Sea Grain Deal, Kremlin spokesman Dmitry Peskov stated, &#8220;But if you remember the initiative in its previous form, there was quite a large part of the obligations to our country that were not fulfilled last time. Therefore, this will also be on the agenda today.&#8221;



SEE ALSO: <a href="https://www.benzinga.com/general/space/25/03/44454270/crypto-tycoon-joins-forces-with-elon-musks-spacex-to-launch-first-private-space-station">Crypto Tycoon Joins Forces With Elon Musk&#8217;s SpaceX To Launch First Private Space Station</a>



Why It Matters: These discussions follow the Trump administration&#8217;s push for <a href="https://www.benzinga.com/25/03/44435337/trump-administration-pushes-for-revised-terms-to-access-ukraines-critical-resources-amid-peace-talks-report">revised terms to access </a>Ukraine&#8217;s critical resources amid peace talks. The U.S. is persuading Kyiv to agree to comprehensive terms about the ownership and control of a joint investment fund. This could potentially extend to U.S. ownership of other economic assets in Ukraine, such as nuclear power plants.



 Trump announced that the U.S. is aiming to establish agreements on rare earths and minerals globally, with a special focus on Ukraine. This initiative is part of a larger strategy to secure a peace agreement with Russia.



Following the reports of the peace talks, oil prices climbed on Monday as the Brent crude futures gained 54 cents at $72.18 a barrel by 1102 GMT. IG market strategist Yeap Jun Rong told Reuters, &#8220;&#8230;the broader demand-supply outlook still remains mixed. Ukraine-Russia ceasefire talks raise the prospects of increased Russian exports on an eventual resolution, while the OPEC+ production hike as early as April points to further supply additions.&#8221; 



These developments, along with U.S. sanctions on Iranian exports, make energy ETFs a key area of investor interest. iShares U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYE#NYSE">IYE</a>) climbed 0.75% over the past month, while SPDR S&amp;P Oil &amp; Gas Exploration &amp; Production ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOP#NYSE">XOP</a>) dropped 2.57% during the same period. 



<ul>
<li>READ MORE: <a href="https://www.benzinga.com/markets/forex/25/03/44454065/india-china-markets-gain-in-asia-europe-mixed-dollar-eases-global-markets-today-while-us-slept">India, China Markets Gain In Asia, Europe Mixed; Dollar Eases &#8211; Global Markets Today While US Slept</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.



<a rel="noreferrer noopener" href="https://www.benzinga.com/quote/xop" target="_blank"></a>

Oil Rises As US And Russia Begin Talks In Saudi Arabia For Ukraine Ceasefire, Black Sea Deal

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) may have outgrown its status as just a <a href="https://in.benzinga.com/25/03/44281569/rumble-buys-bitcoin-a-valuable-hedge-against-inflation">hedge against traditional finance risks</a> and is increasingly behaving like a Nasdaq-listed tech stock, according to new research from Standard Chartered's Head of Digital Asset Research, Geoffrey Kendrick.



What Happened: In a note shared with Benzinga Monday, Kendrick highlighted how Bitcoin's short-term trading patterns are highly correlated to the Nasdaq Composite, suggesting BTC is serving a dual role in modern portfolios.



While Bitcoin has long been positioned as a buffer against TradFi turbulence—such as the <a href="https://www.benzinga.com/general/24/05/39029080/silicon-valley-bank-to-sell-9-8-billion-venture-capital-arm-for-340-million-a-year-after-1-8-billion">Silicon Valley Bank collapse</a> in March 2023—the report finds that, on shorter timelines, the cryptocurrency moves closely in tandem with U.S. technology stocks.



To illustrate this, Standard Chartered created a hypothetical index dubbed &#8220;Mag 7B,&#8221; which inserts Bitcoin into the popular &#8220;Magnificent 7&#8221; tech-stock basket while removing Tesla.



According to Kendrick, this modified index generates both higher returns and lower volatility compared to the original Mag 7.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44448388/tether-is-now-too-big-to-fail-says-anthony-pompliano-heres-why">Tether Is Now &#8216;Too Big To Fail,&#8217; Says Anthony Pompliano: Here&#8217;s Why</a>



"We find that Mag 7B has both higher returns and lower volatility than Mag 7," Kendrick wrote, adding that the findings suggest Bitcoin can serve as both a TradFi hedge and a technology stock proxy.



The &#8220;Magnificent 7&#8221; typically includes leading tech names such as Apple, Microsoft, Amazon, Meta, Alphabet, Nvidia, and Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).



By swapping Tesla for Bitcoin, Kendrick argues the new &#8220;Mag 7B&#8221; index provides investors with a portfolio that is more resilient and potentially more profitable.



Why It Matters: As Bitcoin&#8217;s presence in institutional portfolios continues to grow, Kendrick believes that its dual utility—acting both as a hedge and as a growth asset—could fuel additional capital inflows. &#8220;Over time, I think BTC may come to serve multiple purposes in investor portfolios,&#8221; Kendrick noted.



Kendrick also forecasts positive short-term momentum for Bitcoin, citing expectations of a more favorable U.S. tariff announcement and Nasdaq rebalancing. 



&#8220;Higher Nasdaq will equal higher Bitcoin. $90,000 in focus now,&#8221; he added.



Bitcoin is trading up over 3.5% on Monday, lifting the total market cap of the crypto industry by 1.5% to $2.9 trillion.



Among major cryptocurrencies, Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) are trading up 4%, 3.2%, 6.5% and 3%, respectively.



Read Next: 



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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44441721/donald-trump-calls-for-stablecoin-legislation-lauds-bitcoin-reserve-biden-got-a-fraction-o">Donald Trump Calls For Stablecoin Legislation, Lauds Bitcoin Reserve: &#8216;Biden Got A Fraction Of Their Value&#8217;</a></li>
</ul>



Image: Shutterstock

Cryptocurrency

$DOGE

$ETH

$SOL

$XRP

Bitcoin Could Replace Tesla In 'Magnificent 7' To Boost Returns, Reduce Volatility: Standard Chartered

U.S. stock futures gained on Monday, continuing the momentum from Friday's rally. Futures of major benchmark indices were in the green in premarket trading, pointing to rising bullish sentiments among investors.



The markets will look towards the Trump administration's actions closely this week – reports suggest that the government could limit the scope of the planned tariffs.



While the Trump administration is still expected to launch reciprocal tariffs against major trading partners of the U.S., critical industries like automobile and semiconductors are no longer expected to be hit by tariffs, for the time being, according <a href="https://www.bloomberg.com/news/articles/2025-03-22/trump-plans-his-tariff-liberation-day-with-more-targeted-push">to</a> a Bloomberg report.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Nasdaq 100</td><td>1.10%</td></tr><tr><td>S&amp;P 500</td><td>0.90%</td></tr><tr><td>Dow Jones</td><td>0.70%</td></tr><tr><td>Russell 2000</td><td>1.00%</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, which track the S&amp;P 500 index and Nasdaq 100 index, respectively, gained in premarket on Monday. The SPY was up 1.06% to $569.98, while the QQQ gained 1.29% to $486.32, according to<a href="https://pro.benzinga.com/dashboard"> Benzinga Pro</a> data.



Cues From Last Session:



U.S. stocks settled higher on Friday, with the S&amp;P 500 recording slight gains during the session. The broad-market S&amp;P 500 also reported gains last week after recording losses for four straight weeks. The Nasdaq gained 0.2%, while the Dow added 1.2% during the week.



FedEx Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) shares dipped more than 6% on Friday after the company's third-quarter adjusted EPS results missed analysts&#8217; expectations.



Shares of Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) fell more than 5% on Friday after the company reported third-quarter financial results.



Most sectors on the S&amp;P 500 closed on a negative note, with materials, real estate, and utilities stocks recording losses on Friday.



However, communication services and consumer discretionary stocks bucked the overall market trend, closing the session higher.



<figure class="wp-block-table"><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>0.52%</td><td>17,784.05</td></tr><tr><td>S&amp;P 500</td><td>0.082%</td><td>5,667.56</td></tr><tr><td>Dow Jones</td><td>0.076%</td><td>41,985.35</td></tr><tr><td>Russell 2000</td><td>-0.56%</td><td>2,056.98</td></tr></tbody></table></figure>



Insights From Analysts:



Analysts sought to brush aside concerns of a bear market, stating that it's not as much of a concern and that it is likely a rotational behavior.



"Statistically, this type of action is extreme and typically comes at the end of a bear market in a waterfall sell-off and not right after an all-time high. A simple reflexive rebound to the 20-day moving average would wipe out half the decline," said Ivan Martchev, investment strategist at Navellier &amp; Associates.



Martchev pointed to a drastic decline in VIX, also known as the fear gauge index, which fell nearly 10% and 11.72% in two sessions last week.



He added that the chances of the S&amp;P 500 making an all-time high in the second quarter this year are "better than ever," but this is contingent on President Donald Trump registering a few trade war wins.



Ryan Detrick, chief market strategist at Carson Group, brushed aside bearish concerns, too.



He pointed to the sharp 34% decline in the S&amp;P 500 five years ago on this day due to the COVID-19-related shutdowns.



"The S&amp;P 500 was up nearly 200% (total return) earlier this year off those lows. Remember that the next time you hear some scary headlines," he said.



<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">Five years ago today the S&amp;P 500 bottomed after a 34% bear market due to shutting down the economy. The S&amp;P 500 was up nearly 200% (total return) earlier this year off those lows. Remember that the next time you hear some scary headlines. <a href="https://t.co/l9mbGVk5HJ">pic.twitter.com/l9mbGVk5HJ</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1903932416714043719?ref_src=twsrc%5Etfw">March 23, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Upcoming Economic Data



Here's what investors will keep an eye on this week:



<ul>
<li>On Monday, the S&amp;P services PMI and manufacturing PMI are scheduled to be released at 9:45 a.m. ET.</li>



<li>On Tuesday, the S&amp;P Case-Shiller home price index for 20 cities is scheduled to be released at 9 a.m. ET.</li>



<li>Consumer confidence and new home sales data are scheduled to be released at 10 a.m. ET.</li>



<li>On Wednesday, durable goods orders data is set to be released at 8:30 a.m. ET.</li>



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



<li>On Thursday, initial jobless claims data, second revision of GDP, advanced U.S. trade balance in goods, and advanced wholesale inventories data are to be released at 8:30 a.m. ET.</li>



<li>Pending home sales data is set to be released at 10 a.m. ET.</li>



<li>Richmond Fed President Tom Barkin is set to speak at 4:30 p.m.</li>



<li>On Friday, personal income, spending, personal consumption expenditure index, and core PCE index are scheduled to be released at 8:30 a.m. ET.</li>



<li>Consumer sentiment data is scheduled to be released at 10 a.m. ET.</li>
</ul>



Stocks In Focus:



<ul>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) continues to remain in focus on Monday, rising nearly 4% in pre-market trade and extending gains from Friday.</li>



<li>The AZEK Company Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZEK#NYSE">AZEK</a>) gained over 18% pre-market after James Hardie Industries Plc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JHX#NYSE">JHX</a>) announced plans to acquire the company in a $8.75 billion deal.</li>



<li>MicroAlgo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLGO#NASDAQ">MLGO</a>) gained over 42% pre-market, reversing the 19% dip on Friday when it announced a new stock offering to service a convertible bond.</li>



<li>Castellum Inc. (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/CTM#AMEX">CTM</a>) gained nearly 14% after the company announced a $4.5 million offering pricing.</li>



<li>23andMe Holding Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ME#NASDAQ">ME</a>) tumbled over 40% after the company initiated involuntary Chapter 11 proceedings.</li>



<li>Investors are awaiting earnings results from KB Home (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBH#NYSE">KBH</a>), Intuitive Machines Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUNR#NASDAQ">LUNR</a>), and Enerpac Tool Group Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EPAC#NYSE">EPAC</a>) today.</li>
</ul>



Commodities, Gold And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 0.75% to hover around $68.78 per barrel.



Gold futures gained 0.41% to hover around $3,060.91 per ounce.



10-year treasury yields edged up by 0.029% to hover at 4.281%.



Asian markets closed on a mixed note on Monday. While Taiwan Weighted and KOSPI fell over 0.4%, Hang Seng rose 0.90%, and Shanghai Composite edged up by 0.15%.



European markets were similarly mixed in early trade.



Read Next:



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<li><a href="https://www.benzinga.com/25/03/44452879/meta-profits-from-llama-ai-models-despite-denials-court-filing-reveals">Mark Zuckerberg&#8217;s Meta Profits From Llama AI Models Despite Denials, Court Filing Reveals</a></li>
</ul>



Photo courtesy: Shutterstock

Futures

Pre-Market Outlook

AZEK

EPAC

LUNR

MLGO

US Stocks Likely To Open Higher As Trump May Soften Tariff Plans: Analysts Brush Off Bear Hug Fears

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk endorsed new loan verification measures implemented by the Small Business Administration, highlighting concerns about fraudulent applications using stolen Social Security numbers.



What Happened: &#8220;No more loans to babies or people too old to be alive,&#8221; Musk wrote Monday on X, responding to an announcement from the Department of Government Efficiency (DOGE), which he leads under President Donald Trump&#8216;s administration.



The SBA now requires date of birth verification for all direct loan applications and has paused processing for applicants under 18 or over 120 years old, what DOGE called &#8220;basic sanity checks&#8221; to minimize fraud.



The measures follow revelations that during 2020-2021, the SBA issued 3,095 loans totaling $333 million to borrowers supposedly over 115 years old who remained listed as alive in Social Security databases. In one case, a purported 157-year-old received $36,000 in loans.



<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">No more loans to babies or people too old to be alive (ie stolen Social Security numbers) <a href="https://t.co/m4QFdOTZ8k">https://t.co/m4QFdOTZ8k</a>&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1904030373899616736?ref_src=twsrc%5Etfw">March 24, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



This initiative connects to broader concerns Musk raised in February about Social Security Administration (SSA) data accuracy. He shared statistics showing millions of Americans <a href="https://in.benzinga.com/news/25/02/43774570/elon-musk-sparks-debate-on-social-security-data-after-report-finds-millions-of-alive-centenarians-in-america">over 100 years old still listed as alive in the system</a>, jokingly suggesting, &#8220;Maybe Twilight is real and there are a lot of vampires collecting Social Security.&#8221;



See Also: <a href="https://www.benzinga.com/markets/25/03/44452553/billionaire-investor-mark-cuban-questions-fate-of-amazon-amid-trumps-reciprocal-tariffs-its-about-how-you-use-them">Billionaire Investor Mark Cuban Questions Fate Of Amazon Amid Trump&#8217;s Reciprocal Tariffs: &#8216;It&#8217;s About How You Use Them&#8217;</a>



Why It Matters: University of Michigan economics professor Justin Wolfers previously provided context, citing a July 2023 SSA Inspector General audit that identified approximately 18.9 million number holders born <a href="https://in.benzinga.com/news/25/02/43774570/elon-musk-sparks-debate-on-social-security-data-after-report-finds-millions-of-alive-centenarians-in-america">before 1920 without death information</a>. 



The audit revealed 98% of these cases receive no payments, with the anomaly largely attributed to pre-electronic record-keeping era deaths.



Critics like Rep. Adam Schiff (D-Calif.) have voiced concerns about the potential undermining of Social Security, claiming Republicans are &#8220;setting up Social Security for failure&#8221; by reducing access points for assistance.



<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">They're not even hiding it: By cutting phone lines and closing offices, Republican billionaires are setting up Social Security for failure. And when your check doesn't show up, there will be no one to call. This is their plan to end Social Security. <a href="https://t.co/VEmpu8vune">pic.twitter.com/VEmpu8vune</a>&mdash; Adam Schiff (@SenAdamSchiff) <a href="https://twitter.com/SenAdamSchiff/status/1903536936901578914?ref_src=twsrc%5Etfw">March 22, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The SBA&#8217;s new verification procedures represent early efforts by the Trump administration&#8217;s efficiency initiative to address data integrity issues affecting federal loan programs while balancing operational priorities with resource constraints.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/03/44452531/nvidia-chip-flows-under-scrutiny-as-malaysia-moves-to-tighten-regulations-amid-us-export-controls-on-china">Nvidia Chip Flows Under Scrutiny As Malaysia Moves To Tighten Regulations Amid US Export Controls On China</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.

Elon Musk Backs Crackdown On SBA Loans After $333 Million Went To Borrowers Over 115 Years Old

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) reached $86,909.48 on Monday, gaining 1.03% over 24 hours as cryptocurrency markets continue responding to shifting Federal Reserve <a href="https://www.benzinga.com/trading-ideas/movers/25/03/44451478/bitcoin-ethereum-dogecoin-rise-as-white-house-official-hints-at-gold-powered-btc-purchases-analyst-says-watch-out-for-these-key-btc-levels">monetary policy expectations</a>.



What Happened: BitMEX co-founder Arthur Hayes predicted on Sunday that Bitcoin will reach $110,000 before retesting the $76,500 level. &#8220;I bet BTC hits $110K before it retests $76.5K,&#8221; Hayes wrote on X.



He attributed this forecast to the Federal Reserve shifting from quantitative tightening to quantitative easing for treasuries, adding that tariffs are irrelevant due to &#8220;transitory inflation.&#8221;



Hayes&#8217; prediction comes as the Federal Reserve held interest rates <a href="https://in.benzinga.com/economics/macro-economic-events/25/03/44403637/fed-holds-rates-while-growth-forecasts-slip-inflation-projections-rise">steady at 4.25%-4.50% last Wednesday</a>, with Chairman Jerome Powell reviving the controversial term &#8220;transitory&#8221; to describe potential inflationary effects from new tariffs. 



The Fed also announced plans to slow its quantitative tightening program beginning in April, reducing Treasury securities redemption caps from $25 billion to $5 billion monthly.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I bet <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> hits $110k before it retests $76.5k. Y? The Fed is going from QT to QE for treasuries. And tariffs don't matter cause "transitory inflation". JAYPOW told me so. I'll expound on that in my next essay, that's the TLDR for your TikTok peanut brain.&mdash; Arthur Hayes (@CryptoHayes) <a href="https://twitter.com/CryptoHayes/status/1904000755381760058?ref_src=twsrc%5Etfw">March 24, 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/trading-ideas/movers/25/03/44451478/bitcoin-ethereum-dogecoin-rise-as-white-house-official-hints-at-gold-powered-btc-purchases-analyst-says-watch-out-for-these-key-btc-levels">Bitcoin, Ethereum, Dogecoin Rise As White House Official Hints At Gold-Powered BTC Purchases: Analyst Says Watch Out For These Key BTC Levels</a>



Why It Matters: This policy shift occurs amid growing stagflation concerns. The Fed&#8217;s latest projections show Gross Domestic Product growth falling to 1.7% for 2025 (down from December&#8217;s 2.1% estimate), while core PCE inflation expectations <a href="https://in.benzinga.com/economics/macro-economic-events/25/03/44403637/fed-holds-rates-while-growth-forecasts-slip-inflation-projections-rise">rose from 2.5% to 2.8%</a>.



&#8220;It&#8217;s simply too early to say with any degree of confidence that the inflationary effects will be transitory,&#8221; criticized Allianz chief economic adviser Mohamed El-Erian, recalling the Fed&#8217;s 2022 misstep when it initially <a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44406928/economists-react-to-powell-we-are-now-seeing-the-stag-and-the-flation">dismissed persistent inflation</a>.



Despite economist warnings, markets rallied following Powell&#8217;s statements. The S&amp;P 500 index tracked by SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) closed 0.08% higher on Friday, while Bitcoin surged past $85,000. Gold also extended record highs and steadied at $3,020 per ounce.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/25/03/44452553/billionaire-investor-mark-cuban-questions-fate-of-amazon-amid-trumps-reciprocal-tariffs-its-about-how-you-use-them">Billionaire Investor Mark Cuban Questions Fate Of Amazon Amid Trump&#8217;s Reciprocal Tariffs: &#8216;It&#8217;s About How You Use Them&#8217;</a></li>
</ul>



Image Via Shutterstock



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

Arthur Hayes Predicts Bitcoin To Hit $110K Before Retesting $76.5K, Cites Fed's Policy Pivot

Leading cryptocurrencies gained Sunday amid hints the U.S. government would use gold reserves to fund Bitcoin purchases.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:30 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+2.66%</td><td>$86,262.05</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>+1.41%</td><td>$2,013.81</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>+3.73%</td><td>$0.1739</td></tr></tbody></table></figure>



What Happened: The apex cryptocurrency rose to an intraday high of $86,632.21 in the overnight hours, while Ethereum wiggled in the $2,000 region for most of the day.



The spike comes after Bo Hines, the executive director of the President's Council of Advisers on Digital Assets, <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44450232/white-house-says-gold-reserves-may-be-used-to-purchase-bitcoin">suggested in an interview </a>that the U.S. could capitalize on the gains from its gold holdings to purchase more Bitcoin.



The two blue-chip currencies have demonstrated divergent trajectories in March. While Bitcoin has gained 1.94% since the month began, its younger sibling has plunged over 10%.&nbsp;



Additionally, Bitcoin's market dominance has remained at 60%, while Ethereum's share has shrunk from 9.4% to 8.6%.



The spike resulted in the liquidation of $143 million from the cryptocurrency market in the past 24 hours, with short liquidations accounting for $91 million.



Bitcoin's Open Interest surged 5.43% in the last 24 hours. Interestingly, the majority of futures traders were positioned short as of this writing, according to the Long/Short ratio, suggesting that a pullback might be in the works.



The market sentiment remained in the "Fear" region, according to the Crypto Fear and Greed Index.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:30 p.m. ET)</td></tr><tr><td>Fartcoin (FARTCOIN)</td><td>+24.45%</td><td>$0.5551</td></tr><tr><td>Bonk (BONK)</td><td>+11.34%</td><td>$0.00001353</td></tr><tr><td>Four (FORM)</td><td>+9.12%</td><td>$1.96</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $2.81 trillion, following an increase of&nbsp; 1.95% over the previous day.



Stock futures edged higher in Sunday overnight trading. The Dow Jones Industrial Average Futures rose 190 points, or 0.45%, as of 8:39 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 gained 0.62%, while Nasdaq 100 Futures added 0.78%.



The rally followed a positive week for stocks, with the Dow and the S&amp;P 500 gaining 0.77% and 0.079%, respectively, amid <a href="https://in.benzinga.com/25/03/44437504/feds-goolsbee-urges-patience-as-trumps-tariffs-stir-fears-of-stagflation-we-need-to-be-careful-when-you-say-transitory">anxiety over a potential economic slowdown</a> triggered by President Donald Trump&#8217;s tariff policies.



The rally followed a winning week for stocks, with the Dow Jones Industrial Average dipped 11.31 points, or 0.03%, to close at 41,953.32. The S&amp;P 500 fell 0.22% lower at 5,675.29. The tech-focused Nasdaq Composite slid 0.33%, ending at 17,691.63.



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



Analyst Notes: Influential cryptocurrency analyst and trader Ali Martinez pointed out areas of interest on Bitcoin's price chart.&nbsp;



"Support from $82,590 to $85,150, where 1.16 million investors bought 625,000 BTC," Martinez highlighted.&nbsp;



He also drew attention to the key resistance level between $95,400 and $97,970, where 1.77 million investors bought 1.44 million BTC.



<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">Key levels to watch for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>: &#8211; Support from $82,590 to $85,150, where 1.16 million investors bought 625,000 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a>. &#8211; Resistance from $95,400 to $97,970, where 1.77 million investors bought 1.44 million <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>. <a href="https://t.co/CPPgKuDfOm">pic.twitter.com/CPPgKuDfOm</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1903913140313624868?ref_src=twsrc%5Etfw">March 23, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Another well-known trader, Crypto Feras, stated that Ethereum must retake $2150 as support; otherwise, the recent spike would be considered a bearish retest.



"A successful reclaim can ultra send it towards $2.8 and $4k as well, but it needs to happen first. Otherwise, $1539 is next," the trader predicted.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Etherum?src=hash&amp;ref_src=twsrc%5Etfw">#Etherum</a> <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> needs to reclaim 2150$ area as a support again, otherwise we are just heading towards another bearish retest. a successful reclaim can ultra send it towards 2.8 &amp; 4k as well. but it needs to happen first, otherwise 1539$ is next<a href="https://twitter.com/search?q=%24ethusd&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ethusd</a> <a href="https://twitter.com/hashtag/ethusdt?src=hash&amp;ref_src=twsrc%5Etfw">#ethusdt</a> <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> <a href="https://t.co/9VAyYw9WAN">pic.twitter.com/9VAyYw9WAN</a>&mdash; Crypto Feras  (@CryptoFeras) <a href="https://twitter.com/CryptoFeras/status/1903973472151466085?ref_src=twsrc%5Etfw">March 24, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo by Avi Rozen on Shutterstock



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Movers

Bitcoin, Ethereum, Dogecoin Rise As White House Official Hints At Gold-Powered BTC Purchases: Analyst Says Watch Out For These Key BTC Levels

Canadian Prime Minister Mark Carney has announced a federal election set for April 28, citing the need to counteract President Donald Trump&#8217;s recent tariffs.



What Happened: Carney, who recently took office following Justin Trudeau&#8217;s resignation, stated on the social platform X, &#8220;I have just asked the Governor General to dissolve Parliament and call a federal election on April 28.&#8221; He emphasized the necessity to strengthen Canada&#8217;s economy and address the impact of Trump&#8217;s tariffs. The post was first noted in a <a href="https://thehill.com/policy/international/5209833-canada-pm-mark-carney-calls-for-snap-election-says-trump-wont-break-us/">report</a> from The Hill.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I have just asked the Governor General to dissolve Parliament and call a federal election on April 28. We need to build the strongest economy in the G7. We need to deal with President Trump's tariffs. Canadians deserve a choice about who should lead that effort for our country.&mdash; Mark Carney (@MarkJCarney) <a href="https://twitter.com/MarkJCarney/status/1903854242114183451?ref_src=twsrc%5Etfw">March 23, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



In a separate post on X, he asked Canadians for a &#8220;strong, positive mandate to deal with President Trump.&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I am asking Canadians for a strong, positive mandate to deal with President Trump and build a stronger economy here at home. <a href="https://t.co/VK2XPeEeNX">pic.twitter.com/VK2XPeEeNX</a>&mdash; Mark Carney (@MarkJCarney) <a href="https://twitter.com/MarkJCarney/status/1903872313843441912?ref_src=twsrc%5Etfw">March 23, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Earlier this month, Trump imposed 25% tariffs on Canada and Mexico, altering the dynamics between the neighboring countries. Carney, a prominent banker and political newcomer, described the situation as a significant crisis, attributing it to Trump&#8217;s &#8220;unjustified trade actions&#8221; and threats to Canadian sovereignty, according to The Hill.



Carney criticized Trump&#8217;s assertion that Canada should become the 51st U.S. state, a notion dismissed by Canadian officials as absurd. The New York Times noted that Carney&#8217;s call for a swift election was anticipated, given his lack of a parliamentary seat and the Liberal Party&#8217;s minority status. He will contend with the Conservative Party and Pierre Poilievre in the upcoming election.



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: The announcement of a snap election by Carney comes shortly after he assumed leadership of the Liberal Party, succeeding Trudeau. Carney, who previously served as the governor of both the Bank of Canada and the Bank of England, has <a href="https://in.benzinga.com/news/25/03/44213871/canadas-next-pm-mark-carney-vows-to-win-trade-war-with-trump-says-americans-should-make-no-mistake">vowed to stand firm</a> against U.S. President Trump&#8217;s trade threats. 



His leadership was solidified with a <a href="https://in.benzinga.com/25/03/44212152/mark-carney-takes-justin-trudeaus-job-as-canadas-new-pm-ready-to-face-trumps-tariff-threats-i-know-how-to-manage-crises">decisive victory</a> in the Liberal Party leadership race, securing 85.9% of the vote. Carney&#8217;s financial and crisis management expertise is expected to play a crucial role as Canada navigates the economic challenges posed by the tariffs.



The economic landscape in Canada is currently fraught with challenges, as the Organization for Economic Co-operation and Development has <a href="https://in.benzinga.com/etfs/specialty-etfs/25/03/44444256/canada-faces-rising-inflation-slowing-growth-risks-as-trumps-tariffs-loom-one-etf-can-turn-this-crisis-into-opportunity">lowered its growth forecasts</a> for the country. Rising inflation and slowing growth are significant concerns amidst the ongoing trade tensions. 



Image via Shutterstock



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

General

Canada's PM Mark Carney Calls For Snap Election Amid Tense US Relations: Asks For 'Strong, Positive Mandate To Deal With President Trump'

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



U.S. stocks settled higher on Friday, with the S&amp;P 500 recording slight gains during the session. The broad-market S&amp;P 500 also reported gains last week after recording losses for four straight weeks. The Nasdaq gained 0.2%, while the Dow added 1.2% during the week.



FedEx Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) shares dipped more than 6% on Friday after the company's third-quarter adjusted EPS results missed analysts&#8217; expectations. Shares of Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) fell more than 5% on Friday after the company reported third-quarter financial results.



Shares of Micron Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) fell around 8% Friday after the company reported second-quarter financial results.



Most sectors on the S&amp;P 500 closed on a negative note, with materials, real estate, and utilities stocks recording losses on Friday. However, communication services and consumer discretionary stocks bucked the overall market trend, closing the session higher.



The Dow Jones closed higher by around 32 points to 41,985.35 on Friday. The S&amp;P 500 rose 0.08% to 5,667.56, while the Nasdaq Composite climbed 0.52% at 17,784.05 during Friday's session.



Investors are awaiting earnings results from KB Home (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBH#NYSE">KBH</a>), Intuitive Machines Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUNR#NASDAQ">LUNR</a>), and Enerpac Tool Group Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EPAC#NYSE">EPAC</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 22.6, the index remained in the &#8220;Extreme Fear&#8221; zone on Friday, versus a prior reading of 22.2.



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



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Photo courtesy: Shutterstock

Earnings

S&P 500 Ends 4-Week Losing Streak: Investor Fear Eases Slightly, But Greed Index Remains In 'Extreme Fear' Zone

On Sunday, Chinese Vice Premier He Lifeng met with top executives from Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), Mastercard Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), Eli Lilly and Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), Cargill, and other major firms.



What Happened: "China will continue to improve the business environment and welcome more investment by multinational companies in China, sharing opportunities for development," he told the leaders, describing the country's economy as "highly resilient" and "full of vitality."



Executives from medical device maker Medtronic PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>) and investment management firm Conning were also in attendance, reported Reuters, citing a statement from China's Ministry of Commerce.



However, the statement did not specify where the meeting took place.



Many of the executives are in Beijing to attend the China Development Forum, where further high-level meetings, including a possible session with President Xi Jinping, are expected later this week, the report noted, citing unnamed sources.



See Also:&nbsp;<a href="https://www.benzinga.com/25/03/44272657/alibaba-chairperson-says-everyone-is-concerned-about-tariffs-as-he-expects-levies-on-chinese-evs" target="_blank" rel="noreferrer noopener">Alibaba's Joseph Tsai Says ‘Everyone Is Concerned About Tariffs,' As He Expects Levies On Chinese EVs</a>



Why It's Important: Beijing has ramped up efforts to attract foreign capital amid a slowing economy and fresh <a href="https://in.benzinga.com/news/global/25/03/44448798/china-ponders-export-limitations-to-quell-trumps-trade-onslaught">U.S. tariff headwinds</a> under President Donald Trump.



While American companies made up the largest group at this year's forum, sources say fewer U.S. CEOs attended compared to last year—signaling ongoing caution in cross-border corporate relations, the report noted.



Previously, the Chinese President expressed concerns about the possibility of China facing isolation similar to the Soviet Union during the Cold War. The ongoing trade war has heightened <a href="https://in.benzinga.com/25/03/44161587/is-china-apprehensive-of-losing-the-trade-war-to-the-us-china-could-get-isolated-like-moscow-fears-xi-jinping">fears of economic isolation</a>.



 Despite these challenges, <a href="https://in.benzinga.com/general/market-summary/25/03/44273552/ray-dalio-says-china-is-way-ahead-in-ai-and-robotics-us-lags-in-mass-production">China remains a leader</a> in technological advancements, particularly in artificial intelligence and robotics, according to investor Ray Dalio.



Image via Shutterstock



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

Media

China Courts Apple, Pfizer, Eli Lilly Amid US Pressure, Vice Premier Says Beijing 'Will Continue To Improve The Business Environment'

Three months after saying that a one-size-fits-all federal minimum wage &#8220;wouldn't work,&#8221; President Donald Trump has rolled back a key wage rule <a href="https://www.benzinga.com/news/25/03/44277188/a-poverty-sentence-heres-why-some-say-losing-a-federal-job-is-worse-than-being-fired-in-the-private-sector">affecting federal contractors</a>. The move cancels an executive order from then-President Joe Biden that required contractors to pay their workers at least $17.75 per hour.



<h2 class="wp-block-heading">Trump&#8217;s Take on Federal Wages</h2>



Back on Dec. 8, during an <a href="https://www.nbcnews.com/meet-the-press/video/trump-says-he-would-consider-raising-the-federal-minimum-wage-226490437864">appearance</a> on NBC News&#8217; &#8220;Meet the Press,&#8221; Trump said, "It would be nice to have just a minimum wage for the whole country, but it wouldn't work because you have places where it's very inexpensive to live." He argued that a federal minimum wage could have &#8220;very little effect&#8221; in some areas due to lower living costs.



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His comments fueled debate over whether the U.S. should have a federal wage floor at all. But as of 2023, only about 1.1% of American workers actually earn the <a href="https://www.benzinga.com/personal-finance/25/01/43234188/bernie-sanders-the-7-25-federal-minimum-wage-is-shameful-in-2025-america">federal minimum of $7.25 an hour</a>, according to the <a href="https://www.bls.gov/opub/reports/minimum-wage/2023/">Bureau of Labor Statistics</a>. The vast majority earn more, thanks to higher state minimums and market conditions.



<h2 class="wp-block-heading">Biden&#8217;s $17.75 Minimum Wage for Contractors Repealed</h2>



On March 15, Trump formally repealed Biden's 2021 order that had gradually raised the minimum wage for federal contract workers to $17.75 per hour by this past January. That order replaced an earlier rule from President Barack Obama, who had bumped the contractor minimum to $10.10 in 2014 with periodic increases.



Biden's order also removed an exemption for seasonal recreational businesses on federal land—a carveout Trump had supported during his first term. With the repeal, many federal contractors will now fall back to the Obama-era rate of $13.30 or to the base federal minimum of $7.25 per hour, unless higher state minimum wages apply.



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<h2 class="wp-block-heading">Millions of Workers Could See Pay Changes</h2>



According to <a href="https://www.reuters.com/legal/government/trump-nixes-1775-minimum-wage-federal-contractors-adopted-by-biden-2025-03-20/">Reuters</a>, roughly 20% of the U.S. workforce is employed by companies with federal contracts. Critics of Biden&#8217;s rule, including some Republicans and business groups, said the $17.75 wage made it harder for small businesses to compete and didn't fit low-cost areas.



But advocates say the change could hurt low-wage workers. &#8220;The federal minimum wage has become largely irrelevant,&#8221; Chad Gammon, a certified financial planner, told <a href="https://www.gobankingrates.com/money/economy/trump-federal-minimum-wage-doesnt-work-what-happen-to-earnings-if-eliminated/">GOBankingRates</a>. He pointed out that the federal rate hasn't budged since 2009. Others warn the rollback may reduce worker protections.



The repeal also wipes out Biden-era rules that favored federal contractors who stayed neutral in union drives or joined registered apprenticeship programs. Trump didn't give a&nbsp; reason for the changes, but they align with his stated goal of <a href="https://www.benzinga.com/25/02/43701025/analyst-optimistic-about-banks-trumps-pro-business-agenda-should-drive-customer-acitivity">trimming regulations</a> he sees as unnecessary or burdensome.



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Trump Said 3 Months Ago Federal Minimum Wages Don't Work—Now He's Slashed Biden's $17.75 Minimum For Federal Contractors To State Minimums

The past week has been a rollercoaster ride for the financial world. From the Federal Reserve&#8217;s unchanged interest rates to Mark Cuban&#8217;s probing questions about the U.S. economic shift, the week was filled with significant events.



Let&#8217;s dive into the top stories that made headlines.



Fed&#8217;s Powell Revives &#8216;Transitory&#8217; Inflation Talk&nbsp;



The Federal Reserve, led by Chairman Jerome Powell, left interest rates unchanged at 4.25%-4.50% this week. Despite the Fed&#8217;s projection of two rate cuts in 2025, the latest dot plot reflects lower growth and higher inflation, sparking concerns about stagflation. Economists are questioning the Fed&#8217;s confidence in easing inflation, warning of potential policy missteps and rising recession risks.



<a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44406928/economists-react-to-powell-we-are-now-seeing-the-stag-and-the-flation">Read the full article here.</a>



Mark Cuban Questions Motives Behind Economic Shift



 Amid the ongoing U.S. economic overhaul, billionaire Mark Cuban has raised questions about the interests of those in charge. He contrasted the difference between turning around a corporation and a country, calling the 330 million citizens the directors of the corporation. Cuban&#8217;s comments came in response to a post that praised the current economic churn and criticized DOGE for being too timid.



<a href="https://www.benzinga.com/25/03/44431190/billionaire-mark-cuban-questions-motives-behind-national-turnaround-efforts-asks-who-will-be-worse-off-in-the-us-economic-shift">Read the full article here.</a>



See Also: <a href="https://www.benzinga.com/news/global/25/03/44430545/80-tesla-vehicles-damaged-at-dealership-in-hamilton-a-series-of-mischief-says-police" target="_blank" rel="noreferrer noopener">80 Tesla Vehicles Damaged At Dealership In Hamilton: ‘A Series Of Mischief,' Says Police</a>



Treasury Secretary Scott Bessent: A &#8216;Deficit Hawk&#8217;



 In a recent podcast episode, Treasury Secretary Scott Bessent discussed President Donald Trump&#8217;s economic plan and the importance of lowering debt and deficit. Despite identifying himself as a &#8220;deficit hawk,&#8221; Bessent admitted that he sometimes needs to coax Republicans not to cut spending &#8220;all at once.&#8221;



<a href="https://www.benzinga.com/25/03/44396136/treasury-secretary-scott-bessent-calls-himself-a-deficit-hawk-but-has-to-coax-gop-against-aggressive-cuts-says-he-is-completely-aligned-with-elon-musk-on-doge">Read the full article here.</a>



Ray Dalio Warns of Imminent Debt Crisis



Bridgewater Associates founder Ray Dalio has raised concerns about the U.S.&#8217;s national debt, predicting an imminent crisis. Dalio pointed out a severe imbalance between supply and demand, noting that the debt-to-GDP ratio has reached 122%, surpassing the nation&#8217;s economic output. He warned that the U.S. might soon face difficulties selling its debt.



<a href="https://www.benzinga.com/25/03/44345022/ray-dalio-has-a-chilling-warning-for-president-trump-debt-crisis-is-imminent-and-an-issue-of-paramount-importance">Read the full article here.</a>



Canada&#8217;s Retaliatory Tariffs Draw Criticism



In response to the Trump administration&#8217;s recent trade measures, Canada has introduced retaliatory tariffs against the U.S. Commerce Secretary Howard Lutnick criticized Canada&#8217;s &#8220;tone deaf&#8221; approach ahead of a meeting with Canadian officials.



<a href="https://www.benzinga.com/news/global/25/03/44344906/canadas-retaliatory-tariffs-against-us-draw-commerce-secretary-howard-lutnicks-ire-who-thinks-they-are-tone-deaf-the-british-didnt-respond-the-mexicans-didnt-respond">Read the full article here.</a>



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<li><a href="https://in.benzinga.com/news/25/03/44275192/perhaps-ray-dalio-has-different-data-but-grok-thinks-elon-musk-publicly-corrects-the-legendary-investor-over-china">&#8216;Perhaps Ray Dalio Has Different Data, But Grok Thinks…&#8217;—Elon Musk Publicly Corrects The Legendary Investor Over China</a></li>
</ul>



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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>

Jerome Powell's Stagflation Fears, Mark Cuban's Economic Queries, And Ray Dalio's Debt Warning: This Week In Economics

These ten large-cap stocks were the worst performers in the last week. Are they in your portfolio?



<ol>
<li>KE Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEKE#NYSE">BEKE</a>) shares dipped 15.38% after UBS downgraded the stock from Buy to Neutral and <a href="https://www.benzinga.com/quote/beke/analyst-ratings" target="_blank" rel="noreferrer noopener">announced a price forecast of $24.5</a>.</li>



<li>Reddit, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) stock fell 9.76%. The stock briefly surged after Google announced an expanded partnership with Reddit, aiming to integrate Reddit content more <a href="https://www.benzinga.com//node/44369039" target="_blank" rel="noreferrer noopener">effectively across Google's products</a>.</li>



<li>Incyte Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INCY#NASDAQ">INCY</a>) stock dived 8.75% after reporting topline results from two Phase 3 clinical trials of Povorcitinib in <a href="https://www.benzinga.com//node/44356786" target="_blank" rel="noreferrer noopener">patients with Hidradenitis Suppurativa</a>. William Blair and Guggenheim downgraded the stock, and Truist Securities cut its <a href="https://www.benzinga.com/quote/incy/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast from $74 to $72</a>.</li>



<li>James Hardie Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JHX#NYSE">JHX</a>) shares decreased 8.39%.</li>



<li>XPeng Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) shares dipped 8.13% after the company reported a <a href="https://www.benzinga.com//node/44373548" target="_blank" rel="noreferrer noopener">fourth-quarter adjusted EPS miss</a>.</li>



<li>Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) shares decreased 7.63% after the company issued first-quarter adjusted<a href="https://www.benzinga.com//node/44426184" target="_blank" rel="noreferrer noopener"> EPS guidance below estimates</a>.</li>



<li>Booz Allen Hamilton Holding Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAH#NYSE">BAH</a>) stock fell 7.22%. The company said it is entering into a strategic partnership with Shield AI to deliver AI-powered autonomous solutions <a href="https://www.benzinga.com//node/44378015" target="_blank" rel="noreferrer noopener">for the U.S. government</a>.</li>



<li>Telus Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TU#NYSE">TU</a>) shares decreased 7.07%.</li>



<li>Futu Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FUTU#NASDAQ">FUTU</a>) stock declined 7.01%, probably after the People's Bank of China kept the one-year loan prime rate at 3.1% and the five-year rate at 3.6%. Policymakers are navigating how to support economic growth while stabilizing the yuan amid rising trade tensions.</li>



<li>Micron Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) shares lost 6.02% last week after Rosenblatt cut its <a href="https://www.benzinga.com/quote/MU/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast from</a> $250 to $200. The company reported <a href="https://www.benzinga.com//node/44425486" target="_blank" rel="noreferrer noopener">Q2 financial results</a>.</li>
</ol>



Image by Robert Way via Shutterstock



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BEKE

FUTU

INCY

MRNA

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XPEV

XPeng, Reddit And Micron Tech Are Among Top 10 Large-Cap Losers Last Week (Mar 17-Mar 21): Are The Others In Your Portfolio?

The past week has been a rollercoaster ride for the tech and auto industry, with&nbsp;Elon Musk&nbsp;making headlines and&nbsp;Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&nbsp;facing challenges. From surprise all-hands meetings to delivery estimates taking a hit, there&#8217;s a lot to unpack.



Let&#8217;s dive in.



Musk Urges Tesla Employees to Hold Onto Their Stock



In a surprise late-night all-hands meeting, Tesla CEO Musk encouraged employees to keep their stock. The meeting, originally scheduled for 9:30 p.m. ET, didn&#8217;t kick off until 9:58 p.m. ET.



<a href="https://www.benzinga.com/tech/25/03/44429586/elon-musk-says-hang-on-to-your-stock-in-surprise-late-evening-tesla-all-hands-meeting-touts-7-million-evs-optimus-robot-and-ai-supercomputer-dojo">Read the full article here.</a>



Tesla&#8217;s March Deliveries Expected to Dip



Despite Tesla&#8217;s shares plunging nearly 40% in 2025, the company recorded its highest weekly registrations in China this year. However, analysts predict that Tesla&#8217;s March deliveries will fall short of expectations.



<a href="https://www.benzinga.com/25/03/44374442/tesla-investors-advised-to-fasten-their-seatbelts-as-this-analyst-expects-march-deliveries-to-take-a-hit-its-still-best-positioned-company-in-physical-ai">Read the full article here.</a>



See Also: <a href="https://www.benzinga.com/news/global/25/03/44430545/80-tesla-vehicles-damaged-at-dealership-in-hamilton-a-series-of-mischief-says-police" target="_blank" rel="noreferrer noopener">80 Tesla Vehicles Damaged At Dealership In Hamilton: ‘A Series Of Mischief,' Says Police</a>



Waymo Takes The Lead In Robotaxi Race



Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Waymo has taken a significant lead in the autonomous vehicle market, with over 2 million paid robotaxi rides across multiple U.S. cities. Meanwhile, Amazon&#8217;s Zoox is giving Tesla a run for its money.



<a href="https://www.benzinga.com/markets/equities/25/03/44349240/googles-waymo-leads-robotaxi-race-with-2-millon-paid-rides-zoox-challenges-tesla-for-second-spot-as-unsupervised-autonomy-becomes-table-stakes-says-gary-black">Read the full article here.</a>



Nvidia Partners with General Motors



Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang announced a partnership with General Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) for its self-driving segment, stating that &#8220;the time for autonomous vehicles has arrived.&#8221;



<a href="https://www.benzinga.com/tech/25/03/44383445/nvidia-ceo-jensen-huang-announces-gm-partnership-the-time-for-autonomous-vehicles-has-arrived">Read the full article here.</a>



Tesla Owners May Face Higher Insurance Premiums



Tesla owners might have to shell out more for insurance due to a surge in vandalism against the company&#8217;s vehicles. Incidents of spray-painting, arson, and even shootings have been reported, fueled by resentment towards Elon Musk&#8217;s association with the Trump administration.



<a href="https://www.benzinga.com/markets/equities/25/03/44432174/tesla-owners-might-have-to-pay-more-for-insurance-amid-a-surge-in-attacks-on-elon-musk-led-ev-giants-vehicles-expert">Read the full article here.</a>



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<li><a href="https://www.benzinga.com/markets/equities/25/03/44414187/elon-musks-tesla-recalls-over-46000-cybertrucks-due-to-safety-concerns" target="_blank" rel="noreferrer noopener">Elon Musk's Tesla Recalls Over 46,000 Cybertrucks Due To Safety Concerns</a></li>
</ul>



Photo courtesy: Shutterstock



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>

Elon Musk's Late-Night Pep Talk, Tesla's Delivery Woes, And More: This Week In Mobility

The past week has been a whirlwind of news, with the Trump administration making headlines on multiple fronts. From a shake-up in the education sector to controversial deportation practices, the administration&#8217;s actions have sparked widespread discussion. Let&#8217;s dive into the top stories of the week.



Trump Dismantles Department of Education



President Donald Trump has signed an executive order aimed at dismantling the U.S. Department of Education. The order also transfers federal student loan servicing to the Small Business Administration. Trump&#8217;s order instructs Education Secretary Linda McMahon to facilitate the dissolution of the Department of Education and return educational authority to the states.



<a href="https://www.benzinga.com/general/education/25/03/44444175/trump-orders-steps-to-dismantle-department-of-education-what-it-means-for-student-loans">Read the full article here.</a>



Revised Terms for Access to Ukraine&#8217;s Resources



The Trump administration is pushing for revised terms to access Ukraine's critical minerals and energy assets. This move is part of a larger strategy to secure a peace agreement with Russia. The U.S. is persuading Kyiv to agree to comprehensive terms about the ownership and control of a joint investment fund.



<a href="https://www.benzinga.com/25/03/44435337/trump-administration-pushes-for-revised-terms-to-access-ukraines-critical-resources-amid-peace-talks-report">Read the full article here.</a>



Trump Administration&#8217;s Deportation Practices Under Scrutiny



A federal judge has criticized the Trump administration for its handling of Venezuelan deportation flights. The administration has been accused of not providing sufficient details about the flights and failing to respond adequately to a court order.



<a href="https://www.benzinga.com/25/03/44428767/trump-administration-failed-to-respond-to-court-order-on-deportation-flights-explain-non-compliance-by-tuesday-says-judge">Read the full article here.</a>



Bill Gates Warns of Global Health Funding Gaps



Microsoft Corp. co-founder, Bill Gates, has urged the Trump administration to maintain funding for international health initiatives. Gates warned that his foundation cannot compensate for the potential shortfall caused by cuts to the U.S. Agency for International Development (USAID).



<a href="https://www.benzinga.com/25/03/44392153/bill-gates-cautions-trump-administration-his-foundation-cannot-bridge-global-health-funding-gaps-amid-usaid-cuts-reports">Read the full article here.</a>



US-EU Tensions Escalate



French MEP Raphael Glucksmann has criticized the Trump administration&#8217;s stance on U.S.-European relations. Glucksmann&#8217;s comments came in response to a statement made by White House spokesperson Karoline Leavitt, leading to an escalation in tensions between the U.S. and EU.



<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">Read the full article here.</a>



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Photo courtesy: Shutterstock



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

Global

Trump's Education Overhaul, Ukraine Resource Access, Deportation Controversy, And US-EU Tensions: This Week In Politics

<h2 class="wp-block-heading">Toyota Subsidiary Order To Pay Over $1.6B In Penalties For Emissions Fraud Scheme</h2>



U.S. District Court Judge Mark A. Goldsmith of the Eastern District of Michigan on Wednesday<a href="https://www.justice.gov/opa/pr/court-sentences-hino-motors-ltd-toyota-subsidiary-and-imposes-over-16b-penalties-emissions"> accepted </a>Hino Motors, Ltd.'s guilty plea to a single criminal charge for engaging in a multi-year conspiracy to defraud the U.S. government and consumers, as well as smuggling non-compliant goods <a href="https://www.benzinga.com/news/large-cap/25/03/44121022/trumps-25-tariffs-on-auto-imports-are-worth-the-short-term-pain-says-ohio-gop-senator">into the country.&nbsp;</a>



The court sentenced Hino, a subsidiary of Toyota Motor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>), to pay a $521.76 million criminal fine, serve five years of probation—during which it is barred from importing diesel engines it manufactures into the U.S.—and implement a compliance and ethics program with reporting requirements.



The court also imposed a $1.087 billion forfeiture money judgment against the company.



Read Next: <a href="https://www.benzinga.com/politics/25/03/44436692/fannie-mae-freddie-mac-in-upheaval-as-trump-administration-considers-privatizing-mortgage-giants">Fannie Mae, Freddie Mac In Upheaval As Trump Administration Considers Privatizing Mortgage Giants</a>



Between 2010 and 2019, Hino engineers falsified emissions test data submitted to the Environmental Protection Agency for engine certification approvals under the Clean Air Act. They manipulated emissions testing procedures, fabricated data without conducting tests and failed to disclose software functions that negatively affected emission control systems.&nbsp;



Hino Motors' fraudulent activity led to over 105,000 non-compliant diesel engines being imported and sold in the U.S., primarily installed in heavy-duty trucks



"By pleading guilty, Hino Motors, Ltd. has admitted to orchestrating a deliberate and years-long fraud scheme that put profit over principle," said Acting Assistant Director James C. Barnacle Jr. of the FBI's Criminal Investigative Division.



"It doesn't matter how complex the scheme is, the FBI is committed to holding individuals and organizations responsible for their actions," Barnacle said. 



<h2 class="wp-block-heading">Man Charged With Repeated Investment Policy Violations, Misconduct Resulting In Losses Of $1.6 Million</h2>



The SEC on Monday <a href="https://www.sec.gov/newsroom/press-releases/2025-55">filed charges</a> against David Yow Shang Chiueh and his firm, Upright Financial Corp., for repeated misconduct and violations of investment policies. The charges stem from investing over 25% of Upright Growth Fund&#8217;s assets in a single company for several years, resulting in $1.6 million in losses.



Despite settling similar charges in November 2021, Chiueh and Upright allegedly continued to violate the 25% industry concentration limit and misrepresent their actions from Nov. 24, 2021, to June 23, 2024. The prolonged non-compliance led to significant financial losses for the fund and its investors.



The SEC&#8217;s complaint also alleges additional misconduct, including:



<ul>
<li>Operating the fund&#8217;s board without the required number of independent trustees</li>



<li>Misrepresenting a trustee&#8217;s independence in filings</li>



<li>Withholding crucial information from the board</li>



<li>Hiring an accountant without proper board approval</li>
</ul>



"As alleged, the defendants not only ran the fund contrary to its fundamental investment policies, but they actively misled investors and the fund's board about their conduct," said Corey Schuster, Chief of the Division of Enforcement's Asset Management Unit.&nbsp;



"Undeterred by their prior SEC settlement involving these very same issues, we allege that the defendants repeatedly violated fundamental rules designed to protect investors in mutual funds," Schuster added. 



Read More:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/general/education/25/03/44444175/trump-orders-steps-to-dismantle-department-of-education-what-it-means-for-student-loans">Trump Orders Steps To Dismantle Department Of Education: What It Means For Student Loans</a></li>
</ul>



Image: Shutterstock

Legal

Financial Crime Weekly: Toyota Subsidiary To Pay Over $1.6 Billion For Emissions Fraud Scheme

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