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Baosheng Media Group Holdings Limited - Ordinary shares

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Former President Donald Trump has gained a slight lead over Vice President Kamala Harris among early voters in battleground states.
What Happened: The Harvard CAPS/Harris poll reveals that 48% of early voters in key swing states are in favor of Trump, while Harris has the support of 47%. An additional 5% of the respondents either opted for another candidate or had not yet cast their vote. &#8220;Trump's swing state strategy is paying off,&#8221; noted Mark Penn, the poll&#8217;s co-director, <a href="https://thehill.com/homenews/campaign/4932890-donald-trump-kamala-harris-battleground-states-harvard-harris-survey/">reported</a> The Hill.
Despite Trump&#8217;s slight advantage in swing states, Harris holds a substantial 8-point lead among early voters nationwide, with 51% support compared to Trump&#8217;s 43%. Overall, 45% of voters stated they&#8217;d be voting early, while 50% intend to vote on Election Day.
The poll, conducted from October 11-13, was based on responses from 3,145 registered voters, including 2,596 likely voters and 898 battleground state voters. The margin of error for the total sample was plus or minus 1.8 percentage points.
With less than a month to go until Election Day, the race for the Oval Office is incredibly close, with key battleground states expected to play a decisive role.
See Also: <a href="https://www.benzinga.com/government/24/10/41308384/mark-cuban-clashes-with-bill-ackman-after-billionaire-fund-manager-calls-kamala-harris-startup-tax-d?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Clashes With Bill Ackman After Billionaire Fund Manager Calls Kamala Harris&#8217; Startup Tax Deduction Proposal &#8216;Extremely Misleading:&#8217; &#8216;We Need To Get You Watching Shark Tank&#8217;</a>
Why It Matters: Earlier, a <a href="https://www.benzinga.com/news/24/10/41306411/kamala-harris-leads-trump-but-most-americans-are-pessimistic-about-the-nations-direction-poll-shows">CBS News poll</a> showed Harris leading Trump by 3 points. However, most Americans expressed a pessimistic outlook on the state of the country.
Simultaneously, the Democratic Party saw a dip in voter registration advantage in key battleground states like Pennsylvania, North Carolina, and Nevada, potentially posing a challenge for Harris, as reported by <a href="https://www.benzinga.com/news/24/10/41306291/trouble-for-kamala-harris-ahead-pennsylvania-north-carolina-nevada-democrats-lose-voter-registration">Benzinga</a>.
Despite these challenges, an <a href="https://www.benzinga.com/news/24/10/41312383/trump-and-harris-neck-and-neck-in-final-stretch-of-presidential-race-but-heres-how-vice-president-ca">NBC News poll</a> showed Trump and Harris evenly matched with 48% support each, indicating a neck-and-neck race in the final stretch of the presidential election.
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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>

News

Politics

General

Trump Ahead Of Harris Shows Poll Among Early Voters In Key Battlegrounds: Ex-President's 'Swing State Strategy' Is Paying Off

The debate over the effects of different <a href="https://www.benzinga.com/markets/cannabis/22/11/29549541/the-strongest-magic-mushroom-species">psilocybin mushroom strains</a> has long divided growers and users. Psilocybe cubensis varieties like Golden Teacher, B+ and Z-strain are often believed to have distinct psychedelic effects, leading to endless online discussions and confusion for newcomers trying to choose the &#8220;best&#8221; strain. However, as Double Blind <a href="https://doubleblindmag.com/variances-in-magic-mushroom-strains/">reported</a>, recent <a href="https://f1000research.com/articles/10-961?trk=public_post_comment-text">research</a> suggests that these strains may be more alike than they are different.
For years, the phrase &#8220;a cube is a cube&#8221; has been used to downplay the idea that specific Psilocybe cubensis strains offer unique psychedelic experiences. This statement rejects the notion that one strain is inherently better for certain uses, like microdosing or intense trips, emphasizing that the differences are largely superficial.
<h3 class="wp-block-heading">The Science Behind Mushroom Strains</h3>
<a href="https://www.benzinga.com/topic/magic-mushrooms">Psilocybin mushrooms</a> belong to the genus Psilocybe, with Psilocybe cubensis being the most commonly cultivated species. Within this species, strains or varieties, such as B+, Golden Teacher, and others, have been differentiated by their appearance, ease of cultivation and purported effects. Yet, as Kevin McKernan et al. demonstrated in a genetic study of 81 strains, there is minimal difference between many strains, even when sold by various vendors. The lack of genetic consistency between strains across different suppliers highlights that most of these variations are not as distinct as once thought.
&#8220;Strains are often little more than marketing labels,&#8221; notes Ian Bollinger, a scientist known for his work with Oakland Hyphae&#8217;s Hyphae Cup, a potency-testing competition. According to Bollinger, &#8220;Potency has less to do with the strain itself and more to do with the supporting of the strain. The three major factors that go into a potent mushroom are how you cultivate it, its genetics, and, furthermore, how you treat it afterward.&#8221;
<h3 class="wp-block-heading">Cultivation Over Strain</h3>
The <a href="https://www.benzinga.com/money/how-to-grow-magic-mushrooms-at-home">cultivation process</a> plays a far greater role in determining the potency and quality of magic mushrooms than the specific strain being grown. In fact, even with genetically distinct strains like Penis Envy, known for its high psilocybin content, the difference in potency often comes down to how well the mushroom was grown, harvested and preserved. The data from the Hyphae Cup showed that, while Penis Envy is a common submission for potency testing, the results often overlap with those from other strains, further suggesting that cultivation techniques may overshadow any inherent genetic advantages.
Strains like Golden Teacher and B+ may have been originally named to denote specific traits, such as appearance or ease of growth, but over time, these traits become less reliable due to genetic drift and inconsistent spore-sharing practices. As Bollinger points out, only one of the key factors affecting potency is linked to genetics, making cultivation methods far more significant in determining the final product's effects.
<h3 class="wp-block-heading">The Future Of Mushroom Strains</h3>
A 2023 <a href="https://www.cell.com/current-biology/abstract/S0960-9822(23)01460-4">study</a> compared the genetic diversity of 86 cultivated strains and 38 wild strains from Australia, revealing that domesticated strains have far less genetic diversity. This raises questions about the impact of domestication on Psilocybe cubensis, as selective breeding may have reduced traits like contamination resistance, making modern cultivated strains weaker than their wild counterparts.
Looking forward, many experts suggest that instead of focusing on specific strains, growers and consumers should prioritize learning about optimal cultivation practices and experimenting with different species. Wild species like Psilocybe cyanescens, known for their higher potency and resilience to contamination, offer exciting possibilities for both growers and psychonauts.
Until there's more conclusive research on the differences between strains, experts advice for new growers is simple: pick a strain you like the sound of and focus on refining your cultivation technique. As Bollinger says, &#8220;The real magic is in how you grow and handle your mushrooms.&#8221;
Cover image made with AI

Cannabis

Psychedelics

Magic Mushroom Strains: Is There Really A Difference?

According to a recent report from <a href="https://www.benzinga.com/topic/beacon-securities-limited">Beacon Securities</a>, cannabis sales in Colorado and Connecticut are showing mixed results, reflecting both growth and challenges in the legal cannabis market.
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can&#8217;t afford to miss out if you're serious about the business.</li>
</ul>
<h3 class="wp-block-heading">Colorado Sales Up 5% Quarter-To-Date</h3>
In Colorado, legal cannabis sales totaled $122 million in August, holding steady month-over-month but down 8% compared to $132 million in August 2023. However, on a quarter-to-date (QTD) basis, sales reached $245 million for July and August, up 5% from the $233 million recorded in April and May.
The Colorado Department of Revenue (CDOR) reported 673 adult-use dispensaries by the end of August, with an average revenue of $162,000 per dispensary, or approximately $1.9 million annually. This is a slight decline from $172,000 per dispensary in August 2023, but the year-over-year declines in revenue per dispensary have slowed, partially due to a 2% reduction in store count since January.
Notable companies with operations in Colorado include Schwazze (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SHWZ#OTC">SHWZ</a>) and The Cannabist Company (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CBSTF#OTC">CBSTF</a>).
<h3 class="wp-block-heading">Connecticut Sales Flat Year-Over-Year</h3>
In Connecticut, legal cannabis sales reached $23.4 million in September, down 9% month-over-month but 7% lower than September 2023. Despite the monthly dip, quarterly sales totaled $74 million in Q3 2024, up 2% from Q2 2024.
With 51 dispensaries operating by the end of September, the average revenue per dispensary was $460,000 per month, down 14% from $535,000 in August. Companies with notable operations in Connecticut include Curaleaf (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>), Green Thumb Industries (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTC">GTBIF</a>), Trulieve Cannabis (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>), and Verano Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VRNOF#OTC">VRNOF</a>).
Read Also:<a href="https://www.benzinga.com/markets/cannabis/24/10/41284994/grown-rogue-secures-800k-vireo-forfeits-4-5m-warrants-in-cannabis-shakeup-whats-next-for-both"> Grown Rogue Secures $800K, Vireo Forfeits 4.5M Warrants In Cannabis Shakeup—What&#8217;s Next For Both?</a>

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Retail Sales

Markets

THE CANNABIST CO HLDG by THE CANNABIST COMPANY HOLDINGS INC.

CBSTF

CURALEAF HLDGS INC by Curaleaf Hldgs Inc.

CURLF

GTBIF

SHWZ

TCNNF

VRNOF

Is Colorado's Cannabis Market Back On Track? A 5% Sales Boost Says Yes

Washington State University (WSU) researchers have received a $670,000 grant from the National Institutes of Health (NIH) to tackle cannabis misuse among young adults.
The project, led by Stacey Hust and Jessica Willoughby, will focus on educating college students in three states where cannabis is legal. The states are Washington, Illinois and New York, <a href="https://news.wsu.edu/news/2024/10/14/cannabis-intervention-project-receives-nih-backing/">reported</a> WSU Insider.
A particular focus of the study is <a href="https://www.benzinga.com/topic/cannabis-edibles">cannabis edibles</a>, which are increasingly popular but often misunderstood.
The three-year NIH-funded initiative aims to develop and test a technology-based intervention designed to educate young adults on the risks of cannabis. The focus is set on edibles. 
Edibles are a growing segment of the <a href="https://www.benzinga.com/topic/cannabis-markets">cannabis market</a>. Yet, many users are unaware of the delayed onset of effects and misunderstand portion sizes, which can lead to accidental overconsumption.
"Adolescents and young adults are not necessarily educated consumers when it comes to cannabis," said Hust. "Our research has shown that many do not understand the THC content in edibles or how to properly gauge serving sizes."
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/40799657/top-brands-in-2-2b-cannabis-edibles-market-include-wyld-incredibles-wana-and-kiva">Top Brands In $2.2B Cannabis Edibles Market Include Wyld, Incredibles, Wana And Kiva</a>
The intervention project includes a mixed-media video presentation. It will be hosted by a former cannabis marketer and is designed to correct these misconceptions by helping users assess cannabis products more effectively. 
The program emphasizes reading labels and understanding THC levels, using examples like <a href="https://www.benzinga.com/markets/cannabis/24/08/40346905/thc-infused-soda-maker-ramps-up-market-presence-with-debut-in-mi-boosts-ca-product-offering">cannabis-infused sodas</a>.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.</li>
</ul>
Preliminary results have shown the intervention successfully increased cannabis knowledge and awareness of health risks. 
Now, with the <a href="https://www.benzinga.com/markets/cannabis/23/12/36048967/federal-agency-announces-new-cannabis-research-center-to-alleviate-study-barriers-regulatory-hur">NIH funding</a>, the WSU team will refine the program and test it on a larger scale, with plans to customize it for different states&#8217; regulations. 
Ultimately, the researchers hope to secure further funding for a national clinical trial to assess its long-term impact on cannabis use and misuse.
<ul>
<li>Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/08/40121015/first-ever-human-trial-finds-cbg-reduces-anxiety-and-boosts-memory">First-Ever Human Trial Finds CBG Reduces Anxiety And Boosts Memory</a></li>
</ul>
Cover: Photo by Kindelmedia via Pixels

Education

Curious About Cannabis Edibles? Fed Health Agency Funds Project To Study Use Among Young Adults

In a bid to control escalating gas prices, California Governor Gavin Newsom (D) has signed into law a bill that empowers his administration to regulate the state&#8217;s dwindling oil refineries. The move underscores California&#8217;s ongoing battle with affordability.
What Happened: Newsom approved the ABX 2 1 bill. The legislation mandates oil companies to prevent price surges due to maintenance issues and low supplies. The signing of the bill marks a decline in the political clout of Big Oil in California, a state actively transitioning from fossil fuels to renewable energy sources, <a href="https://www.politico.com/news/2024/10/14/gavin-newsom-law-gas-prices-00183615">reported</a> Politico.
&#8220;They have been raking in unprecedented profits because they can,&#8221; said Newsom, according to the report. The governor said that the proposal was not about politics, but took the opportunity to take a potshot at Republican Presidential candidate Donald Trump. He said the industry was raising gas prices to &#8220;scare voters&#8221; into backing the ex-president.
Western States Petroleum Association CEO Cathy Reheis-Boyd said about the move by California, &#8220;For those ready to stop playing politics, we welcome the opportunity to address the real issues driving fuel prices higher for Californians and their families.&#8221;
Western States Petroleum Association includes companies such as ExxonMobil, Marathon Petroleum, and HFSinclair. 
See Also: <a href="https://www.benzinga.com/news/24/10/41303300/mary-trump-because-donald-is-a-world-class-hypocrite-it-turns-out-his-interviews-have-been-edited?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mary Trump: &#8216;Because Donald Is A World-Class Hypocrite, It Turns Out His Interviews Have Been Edited&#8217;</a>
Set to come into effect in January, the law aims to curb price spikes that have seen the state&#8217;s average gas price exceed $6 per gallon in the past two years. It authorizes the California Energy Commission to require refiners to store more gas and share resupply plans with the state.
Why It Matters: The new law comes in the wake of rising concerns over gasoline prices in California. In September 2023, Tai Milder, the director of California&#8217;s Division of Petroleum Market Oversight, <a href="https://www.benzinga.com/government/23/09/34914870/california-faces-rising-gasoline-prices-division-of-petroleum-market-oversight-raises-concerns">expressed concerns</a> over some refineries&#8217; failure to maintain adequate gasoline levels or import enough fuel to compensate for production shortfalls.
Furthermore, the state has been taking legal action against major oil companies. Last year, California <a href="https://www.benzinga.com/markets/equities/23/09/34649658/california-sues-exxon-shell-and-bp-over-shameful-deception-sickens-you-to-your-core">initiated a lawsuit</a> against Exxon Mobil Corporation, Shell PLC, BP P.L.C., ConocoPhillips, Chevron Corporation, and the American Petroleum Institute. The state accused these companies of concealing the dangers of fossil fuels for decades, leading to significant climate change-related damages.
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>

SHEL

Gavin Newsom Approves New Law to Tackle Gas Prices, Says Oil Industry Raising Prices To 'Scare Voters' Into Supporting Trump

In 2025, more than 30 million Americans can file their taxes for free through the IRS's Direct File program. This program was originally launched in 2024 as a pilot and is expanding to cover 24 states, more of which are expected to join in the future.&nbsp;
<a href="https://www.benzinga.com/personal-finance/24/07/39874181/irs-finalizes-10-year-rule-for-retirement-withdrawals-making-things-even-more-insanely-complicat">The IRS</a> aims to simplify tax filing with Direct File and says the program is easy, secure and cost-free for eligible taxpayers. Here&#8217;s what you need to know if you're wondering whether you're eligible and what income types qualify.&nbsp;
Don't Miss:
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<li>Can you guess how many retire with a $5,000,000 nest egg? &#8211;<a href="https://www.benzinga.com/money/retire-5mil-nest-egg"> How does it compare to the average?</a></li>
<li>This billion-dollar fund has invested in the next big real estate boom,<a href="https://www.benzinga.com/money/fundrise-flagship-fund"> here's how you can join for $10.</a></li>
</ul>
<h2 class="wp-block-heading">Who Can Use Direct File?</h2>
Only those who have lived in the eligible 24 states for all of 2024 can use Direct File. Participating states include:&nbsp;
<ul>
<li>Alaska</li>
<li>Arizona</li>
<li>California</li>
<li>Connecticut</li>
<li>Florida</li>
<li>Idaho</li>
<li>Kansas</li>
<li>Maine</li>
<li>Maryland</li>
<li>Massachusetts</li>
<li>Nevada</li>
<li>New Hampshire</li>
<li>New Jersey</li>
<li>New Mexico</li>
<li>New York</li>
<li>North Carolina</li>
<li>Oregon</li>
<li>Pennsylvania</li>
<li>South Dakota</li>
<li>Tennessee</li>
<li>Texas</li>
<li>Washington state</li>
<li>Wisconsin</li>
<li>Wyoming</li>
</ul>
See Also: <a href="https://www.benzinga.com/money/62-years-old-with-1-mil-saved">I&#8217;m 62 Years Old And Have $1.2 Million Saved. Is This Enough to Retire Stress-Free?</a>
This program expansion was made possible by the <a href="https://www.benzinga.com/personal-finance/24/09/40696394/inflation-jobs-and-taxes-how-trump-and-harris-economic-policies-differ">Biden-Harris Administration's Inflation Reduction Act</a>, providing a significant boost for working-class and middle-income families. According to a news release from the U.S. Department of the Treasury, Americans spend an average of $270 and 13 hours filing taxes. The IRS aims to help individuals and families avoid these costs.&nbsp;
<h2 class="wp-block-heading">What Types of Income Are Eligible?</h2>
With the Direct File program expansions, there will be more eligibility for different types of income, credits and deductions in 2025. Here's a breakdown of the income categories that qualify for free filing through direct file:&nbsp;
<ul>
<li>W-2 Wage Income: This covers most employed workers.</li>
<li>Social Security Income: If you receive Social Security retirement benefits, you can file for free.</li>
<li>Unemployment Compensation: For those who received unemployment benefits in 2024, this income type is also eligible.</li>
<li>Interest Income: In 2025, the program expands to allow interest income above $1,500, making it easier for taxpayers with savings or investments to qualify.</li>
<li>Pension and Annuity Income: This includes non-IRA retirement income, a common source for retirees.</li>
</ul>
If your income comes from gig work, contract work (Form 1099-NEC), rental properties or self-employment, you'll need to explore other filing options, as Direct File does not yet support these.
See Also: <a href="https://www.benzinga.com/money/irs-finalizes-10-year-rule-adv">IRS Finalizes 10-Year Rule For Retirement Withdrawals, Making Things &#8216;Even More Insanely Complicated&#8217;</a>
<h2 class="wp-block-heading">Tax Credits and Deductions You Can Claim</h2>
In addition to filing for free, Direct File users can take advantage of various tax credits and deductions. For the 2025 season, the program supports the following credits:
<ul>
<li>Earned Income Tax Credit (EITC): A vital credit for <a href="https://www.benzinga.com/personal-finance/24/08/40586670/survey-finds-46-of-middle-class-workers-are-halting-or-cutting-their-retirement-contributions-du">low-to-moderate-income workers</a>.</li>
<li>Child Tax Credit: For those raising children under 17.</li>
<li>Credit for Elderly or Disabled: This credit can provide relief for qualifying seniors and individuals with disabilities.</li>
<li>Retirement Saver&#8217;s Credit: This credit is for those contributing to retirement savings plans such as 401(k)s or IRAs.</li>
</ul>
Additionally, taxpayers can claim the standard deduction and certain &#8220;above-the-line&#8221; deductions, including student loan interest and health savings account contributions. Direct File does not support itemized deductions, however.
See Also: How do billionaires pay less in income tax than you?<a href="https://www.benzinga.com/money/tax-deferring-adv"> Tax deferring is their number one strategy</a>.
<h2 class="wp-block-heading">Why You Should Check if You&#8217;re Eligible</h2>
For eligible taxpayers, Direct File offers a free and timesaving alternative. The program has no hidden fees, is available in Spanish and works seamlessly on smartphones, tablets and computers. For many, this could mean significant savings, both financially and in terms of time spent on tax preparation.
The expanded Direct File program may provide a practical alternative to traditional tax filing methods. As the 2025 tax season approaches, it&#8217;s worth checking if you can take advantage of this no-cost filing option, especially if your income falls into one of the supported categories. Stay informed about the latest developments and see if this streamlined process might work for you.
Read Next:
<ul>
<li>Many are using this retirement income calculator to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on how on what&#8217;s behind this formula.</a></li>
<li>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/red-ventures"> The percentage may shock you</a>.</li>
</ul>

Personal Finance

More Than 30 Million Americans Can File Taxes For Free In 2025 – Find Out If You're One Of Them And What Income Types Are Eligible

Media mogul Barry Diller, who is the chair of IAC Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IAC#NASDAQ">IAC</a>) is among the technology sector entrepreneurs who are backing Vice President Kamala Harris in <a href="https://www.benzinga.com/topic/2024-election">the 2024 election.</a>
In recent interviews, Diller opened up on his feelings about Harris' election opponent Donald Trump.
What Happened: Diller, who is <a href="https://www.benzinga.com/news/24/07/39998104/dont-discount-kamala-harris-yet-says-iac-chairman-barry-diller-recounting-how-she-mobilized-her-forc">a longtime supporter</a> of the Democratic Party and has donated to Harris, criticized the wealthy business figures who are supporting Trump in the 2024 election.
"I want Donald Trump pushed into the dustheap of history," Diller said, as <a href="https://www.ft.com/content/ebf2c74c-3732-45cf-b520-be2e3c496104">reported </a>by Financial Times.
Diller said he's surprised by "plutocrats" who support Trump and the likely reason being over taxes and money.
"A good many of them are saying they will vote for Trump because of his position on taxes and other things that will keep their dollars when they have more dollars than they would conceivably need."
During the interview, Diller namedrops hedge fund billionaire John Paulson, who predicted the stock market would crash if Harris won the presidency.
"I heard him talk [about Trump] for 20 minutes and … he never talked about the character of the person. What he and others do is refuse to talk about the character of what is arguably a rotten person."
Diller said he had lunch with Trump back in his "30s" while working at Paramount and around the time Trump was "an up-and-coming real estate guy."
The IAC chairman said the meeting with Trump was reminiscent of talking to someone who tells you how great you are, but they really mean the comments as insults and not compliments.
"I remember going to the elevator and as the door closed thinking: I never want to see this person again in my life."
When running into Trump over the past few decades, Diller has managed to not speak to the former president.
"It is 45 years now since my first encounter (and) I have never spoken to him since. So I have a badge."
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</ul>
Diller Criticizes Musk: Another name mentioned by Diller of Trump supporters who may be backing the former president for the wrong reasons is Tesla CEO Elon Musk.
"Why he has gone this way, I think, is out of some weird bitterness and rejection by the current administration," Diller said on the "Fire and Fury" <a href="https://omny.fm/shows/fire-and-fury-the-podcast/special-guest-barry-diller">podcast</a>, as <a href="https://www.businessinsider.com/elon-musk-backing-donald-trump-rejected-joe-biden-barry-diller-2024-10">shared </a>by Business Insider.
Diller said Musk and President Joe Biden have publicly spoken out against each other after the billionaire was previously a supporter of the current president.
Unlike billionaires supporting Trump for taxes and money reasons, Diller said Musk may be doing so as he believes the Republican party is more supportive of free speech.
Diller also said Musk's political statements could be hurting revenue on social media platform X.
"He took over Twitter [X] and alienated at least half the audience for no reason other than his own talking. What hurt Twitter was his anti-advertising policies and statements that hurt Twitter's economy."
The media mogul previously said Musk buying X, which was formerly known as Twitter, for $44 billion was similar to if the billionaire "bought a toy."
"How long he will use it, like today, we don't really know, but he's not going to walk away, I don't think."
Check This Out:
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<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent101424">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Photos: Donald Trump, Barry Diller, Shutterstock

Billionaire Trump Supporters 'Refuse To Talk About The Character Of…Rotten Person': Media Mogul Barry Diller Sounds Off On Elon Musk, Others

STOCK RISES 1.7%
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="791" height="810" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/14205328/Screen-Shot-2024-10-14-at-4.51.49-PM.png" alt="" class="wp-image-2344" style="width:624px" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/14205328/Screen-Shot-2024-10-14-at-4.51.49-PM.png 791w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/14205328/Screen-Shot-2024-10-14-at-4.51.49-PM-293x300.png 293w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/14205328/Screen-Shot-2024-10-14-at-4.51.49-PM-768x786.png 768w" sizes="(max-width: 791px) 100vw, 791px" /></figure>
Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>) today experienced a Power Inflow, a significant event for those who follow where smart money goes and value order flow analytics in their trading decisions. 
Today, at 10:19 AM on October 14th, a significant trading signal occurred for Caterpillar, Inc. as it demonstrated a Power Inflow at a price of $388.65. This indicator is crucial for traders who want to know directionally where institutions and so-called "smart money" moves in the market. They see the value of utilizing order flow analytics to guide their trading decisions. The Power Inflow points to a possible uptrend in Caterpillar&#8217;s stock, marking a potential entry point for traders looking to capitalize on the expected upward movement. Traders with this signal closely watch for sustained momentum in Caterpillar&#8217;s stock price, interpreting this event as a bullish sign.
Signal description
Order flow analytics, aka transaction or market flow analysis, separate and studies both the retail and institutional volume rate of orders (flow). It involves analyzing the flow of buy and sell orders, along with size, timing, and other associated characteristics and patterns, to gain insights and make more informed trading decisions. This particular indicator is interpreted by active traders as a bullish signal.&nbsp;
The Power Inflow occurs within the first two hours of the market open and generally signals the trend that helps gauge the stock&#8217;s overall direction, powered by institutional activity in the stock, for the remainder of the day.&nbsp;
By incorporating order flow analytics into their trading strategies, market participants can better interpret market conditions, identify trading opportunities, and potentially improve their trading performance. But let's not forget that while watching smart money flow can provide valuable insights, it is crucial to incorporate effective risk management strategies to protect capital and mitigate potential losses. Employing a consistent and effective risk management plan helps traders navigate the uncertainties of the market in a more controlled and calculated manner, increasing the likelihood of long-term success
If you want to stay updated on the latest options trades for CAT, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.&nbsp;
<a href="https://benzinga.com/apis?_gl=1&#x2A;1hlgn5i&#x2A;_ga&#x2A;MTY1NjE2NTYxMi4xNzE0NzQ4MTAy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDc0ODEwMi4xLjEuMTcxNDc0ODQyOC4wLjAuMA..">Market News and Data are brought to you by Benzinga APIs</a> and include firms, like <a href="https://finitusa.com/en/">Finit USA</a>, responsible for parts of the data within this article. 
&#xA9; 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
After Market Close UPDATE:
The price at the time of the Power Inflow was $388.65. The returns on the High price ($396.28) and Close price ($394.14) after the Power Inflow are respectively 1.7% and 1.4%. The result underlines the importance of a trading plan that includes Profit Targets and Stop Losses that reflect your appetite for risk.
Past Performance is Not Indicative of Future Results

Signals

Trading Ideas

Tradepulse Power Inflow Alert: Caterpillar Inc. Receives Alert And Rises Over 7 Points

A political committee opposing Florida&#8217;s cannabis legalization measure has received a $500,000 donation from an organization reportedly linked to Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO <a href="https://www.benzinga.com/topic/elon-musk">Elon Musk</a>'s prior support of Gov.<a href="https://www.benzinga.com/23/05/32545295/ron-desantis-or-tim-scott-elon-musk-says-he-wants-this-person-to-be-next-president"> Ron DeSantis's primary presidential bid</a>. The financial boost comes as the campaign pushing for cannabis legalization crosses $100 million in contributions.
Florida's cannabis legalization initiative, known as&nbsp;Amendment 3, is set to go before Florida voters in&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/04/38034138/florida-supreme-court-approves-cannabis-legalization-proposal-for-november-election-in-blow-to-d" target="_blank" rel="noreferrer noopener">the upcoming November elections</a>.
The Florida branch of the American Civil Liberties Union (ACLU) posted a familiar video while commenting on Musk&#8217;s anti-cannabis move, which is followed by a breakdown of the campaign finance database provided by Florida investigative reporter Jason Garcia, who covers corporate influence in Florida.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">You mean this Elon Musk is against legal cannabis in Florida? Vote yes on Amendment 3 and let's end the drug war in Florida.<a href="https://t.co/8qLhPqTlWA">pic.twitter.com/8qLhPqTlWA</a> <a href="https://t.co/JAMvBnTsyM">https://t.co/JAMvBnTsyM</a>
&mdash; ACLU of Florida (@ACLUFL) <a href="https://twitter.com/ACLUFL/status/1844924362622930994?ref_src=twsrc%5Etfw">October 12, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">Read Also: <a href="EXCLUSIVE: Elon Musk's X Is 'Safe Space' To Say Weed: 'The Only Social Platform Where You Can Talk About Cannabis Openly'">EXCLUSIVE: Elon Musk&#8217;s X Is &#8216;Safe Space&#8217; To Say Weed: &#8216;The Only Social Platform Where You Can Talk About Cannabis Openly&#8217;</a></figcaption></figure>
<h1 class="wp-block-heading"> Musk Money To &#8216;Keep Florida Clean&#8217;?</h1>
The so-called Faithful &amp; Strong Policies, Inc., which is headed by Florida attorney Scott Wagner, made the contribution to <a href="https://www.benzinga.com/markets/cannabis/24/08/40486924/ken-griffins-12m-donation-and-desantiss-anti-cannabis-pacs-face-off-against-pro-legalization-gro">Keep Florida Clean</a>, a group dedicated to defeating Amendment 3, according to <a href="https://dos.elections.myflorida.com/committees/ComDetail.asp?account=88582">campaign filings</a> (seen above). Keep Florida Clean and the&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/06/39565658/desantis-anti-cannabis-florida-freedom-fund-raises-barely-a-fraction-of-legalization-committees-" target="_blank" rel="noreferrer noopener">Florida Freedom Fund</a> are both chaired by James Uthmeier, DeSantis&#8217; chief of staff and former campaign manager when the governor ran for president.
The half-million dollar injection into the anti-legalization campaign comes with just three weeks to go before the election and shortly after a new poll showing majority support for the cannabis measure, though not quite enough to meet the 60% requirement to pass the constitutional amendment. The latest <a href="https://floridapolitics.com/archives/701476-poll-abortion-recreational-pot-measures-have-majority-support-but-just-1-has-enough-backing-to-pass/">NBC 6 poll</a>, conducted from October 1-4 showed 58% of voters support the measure, falling just two points short of the threshold.
That said, the $500,000 pales in comparison to the over $100 million raised by <a href="https://drupal-cloudfront.benzinga.com/topic/smart-safe-florida">Smart &amp; Safe Florida</a>, the committee that helped put the cannabis legalization amendment on the ballot. As of late August, the legalization amendment had pulled in at least $91 million <a href="https://news.ballotpedia.org/2024/09/18/florida-amendment-3-exceeds-previous-records-for-marijuana-legalization-campaign-contributions/">according to Ballotpedia</a>, the vast majority of which was provided by the state's largest medical marijuana operator Trulieve Cannabis Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>).
While Musk's connection to Faithful &amp; Strong Policies at the moment is uncertain, The Wall Street Journal <a href="https://www.wsj.com/politics/policy/elon-musk-political-donations-stephen-miller-desantis-39464294">reported</a> that he previously contributed $10 million to the organization, with about half of that supporting DeSantis's presidential campaign. Marijuana Moment first <a href="https://www.marijuanamoment.net/group-thats-been-backed-by-elon-musk-donates-500000-to-anti-marijuana-legalization-effort-in-florida/">reported</a> this story.
Meanwhile, DeSantis has been actively rallying opposition to the initiative as his administration has faced criticism over a <a href="https://www.benzinga.com/markets/cannabis/24/10/41207561/desantis-state-of-florida-under-fire-for-taxpayer-funded-anti-cannabis-ad-as-new-lawsuit-emerges">taxpayer-funded public service announcement</a> warning of impaired driving in states with legalized cannabis. At the same time, Trulieve <a href="https://www.benzinga.com/markets/cannabis/24/10/41156781/trulieve-sues-florida-gop-for-defamation-over-false-and-misleading-claims-as-cannabis-legalizati">filed a defamation lawsuit </a>against Florida's Republican Party, accusing it of misleading voters about the implications of Amendment 3.
Now Read:
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<li><a href="https://www.benzinga.com/markets/cannabis/24/10/41320395/florida-cannabis-legalization-gains-support-from-former-congressman-citing-economic-growth-publi">Florida Cannabis Legalization Gains Support From Former Congressman, Citing Economic Growth, Public Health</a></li>
</ul>
Photos: Eugenio Cuppone via Pixabay; Shutterstock

Legal

TSLA

Elon Musk-Linked Organization Donates $500,000 To Scuttle Florida Cannabis Legalization Amendment

Crude oil prices dropped sharply late Monday afternoon after The Washington Post reported Israeli Prime Minister Benjamin Netanyahu told the Biden administration he is willing to strike military targets rather than oil or <a href="https://www.benzinga.com/government/24/10/41298349/us-hits-iran-oil-exports-with-new-sanctions-after-israel-attack-crude-oil-holds-steady-at-75">nuclear facilities in Iran.&nbsp;</a>
The Details: Netanyahu told President Joe Biden in a call last Wednesday he is planning to target military infrastructure in a retaliatory strike against Iran, according to a U.S. official and an official <a href="https://www.washingtonpost.com/world/2024/10/14/israel-iran-strike-nuclear-oil-military/">familiar with the matter</a>. 
The sources also said Israel's action against Iran will be designed to avoid any perception of "political interference in the U.S. elections" noting an attack on Iranian oil facilities could send energy prices higher. The official familiar with the matter described Netanyahu as being in a "more moderated place" during the call between the two leaders.&nbsp;
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41320277/oil-prices-drop-2-as-opec-cuts-forecast-irans-output-rises-analyst-says-netanyahu-m">Oil Prices Drop 2% As OPEC Cuts Forecast, Iran&#8217;s Output Rises: Analyst Says Netanyahu May Doubt US Commitment To &#8216;Restricting Iranian Exports&#8217;</a>
What Else: The United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) which tracks West Texas Intermediate (WTI) light crude fell 2.01% in Monday's regular trading session after OPEC lowered its 2024 global <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41320277/oil-prices-drop-2-as-opec-cuts-forecast-irans-output-rises-analyst-says-netanyahu-m">oil-demand growth forecast</a> and its 2025 global oil-demand growth forecast. 
In its Monthly Oil Market Report <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41320277/oil-prices-drop-2-as-opec-cuts-forecast-irans-output-rises-analyst-says-netanyahu-m">released on Monday</a>, OPEC reduced its 2024 oil demand growth estimate by 106,000 barrels per day (bpd), now expecting global demand to increase by 1.93 million bpd next year. Additionally, the forecast for 2025 demand growth was lowered by 102,000 bpd to 1.6 million bpd year-over-year.
The ProShares Ultra Bloomberg Crude Oil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UCO#NYSE">UCO</a>) fund fell more than 2% in regular trading Monday following the lower global oil-demand growth forecast and is down another 4.51% at $27.50 after-hours. 
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</ul>
Photo: Shutterstock

Commodities

Global

Movers

Oil Prices Drop After Netanyahu Says Israel Will Attack Military, Not Oil Or Nuclear Targets In Iran

Insured losses are way higher than originally anticipated due to the havoc from <a href="https://www.benzinga.com/markets/equities/24/10/41240852/back-to-back-hurricanes-batter-floridas-insurance-market-stocks-to-watch">back-to-back hurricanes</a>.
What Happened: Moody&#8217;s Risk Management Solutions, or RMS, <a href="https://www.rms.com/newsroom/announcement/2024-10-14/moodys-rms-event-response-us-private-market-insured-loss-estimate-for-hurricanes-helene-and-milton">crunched</a> the data to determine the financial impact of Hurricanes Milton and Helene. 
The firm expects total insured losses to range between $35 billion and $55 billion. 
That&#8217;s nearly quadruple what Moody's originally estimated, with losses falling between $8 billion and $14 billion. 
Hurricane Milton, the 13th named storm of the season, closely followed Hurricane Helene, which made landfall just two weeks earlier in Florida&#8217;s Big Bend region along the Gulf of Mexico.
Both storms hit many of the same areas, bringing widespread wind damage, storm surges, and inland flooding.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41317881/hurricane-milton-to-deliver-2-5b-blow-to-floridas-homebuilding-sector-goldman-sachs">Hurricane Milton To Deliver $2.5B Blow To Florida&#8217;s Homebuilding Sector, Goldman Sachs Says</a>
Why It Matters: Moody&#8217;s estimates help insurance companies, policymakers and other stakeholders assess the financial risks and prepare for the economic consequences of such events in the future.
And that&#8217;s important considering hurricane season typically runs until Nov. 30. 
But here&#8217;s the thing: Floridians already pay exorbitant homeowners&#8217; insurance premiums, <a href="https://www.orlandoweekly.com/news/experts-worry-floridas-2024-hurricane-season-could-wipeout-recent-homeowners-insurance-fixes-38005875">per</a> Orlando Weekly. With the immense damage caused by these storms, they&#8217;re going to be paying even more.
According to Moody&#8217;s Chief Risk Modeling Officer Mohsen Rahnama, several factors add uncertainty to the final loss estimates. These include the complexity of hazard patterns, such as the damaging tornadoes spawned by Milton's rainbands in southern Florida, and the storm's interaction with a mid-latitude jet, which created two swaths of the strongest winds. 
In some cases, structures already damaged by Helene may have sustained further damage from Milton. This complicates efforts to determine the primary cause of loss and leads to potential coverage issues.
It&#8217;s not just Helene and Milton. Overlapping insurance claims and Florida's annual deductibles may increase losses for properties previously damaged by past hurricanes, such as Ian in 2022.
Altogether, the Moody&#8217;s ground teams conducted &#8220;field reconnaissance&#8221; for more than 2,000 miles of damage.
&#8220;Our teams are still in Florida surveying the impacted areas,&#8221; Rahnama said.
Florida&#8217;s Insurance Problem: Several major insurance companies had already retreated from Florida due to the high risks associated with the state&#8217;s frequent hurricanes and rising litigation costs. The ones that remained include:
<ul>
<li>Allstate Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) </li>
<li>Travelers Companies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) </li>
<li>Progressive Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) </li>
<li>State Farm</li>
</ul>
Florida-only carriers will take the hardest hit, per a Moody&#8217;s report from Oct. 10. These insurance companies have at least 75% of their homeowners and commercial property premiums written in the state, the firm noted. 
&#8220;The top 10 Florida-only insurers write about 50% of the state&#8217;s homeowners business and are more vulnerable than others given their geographic concentration,&#8221; the company <a href="https://floridaphoenix.com/wp-content/uploads/2024/10/Moodys-Ratings_Hurricane-Milton_Reinsurers-10Oct2024-PBC_1425591-1.pdf">stated</a>. They include:
<ul>
<li>Citizens Property Insurance Corp.</li>
<li>Universal P&amp;C</li>
<li>Tower Hill</li>
<li>First Protective</li>
<li>Slide Insurance</li>
<li>Edison Insurance</li>
<li>Amer Integrity</li>
<li>Florida Peninsula</li>
<li>Homeowners Choice P&amp;C</li>
<li>Security First </li>
</ul>
ETFs To Watch: Three exchange-traded funds tracking public companies in the insurance space were all in the green at last check Monday:
<ul>
<li>SPDR S&amp;P Insurance ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KIE#NYSE">KIE</a>), up 0.78%</li>
<li>iShares U.S. Insurance ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAK#NYSE">IAK</a>), up 0.37%</li>
<li>Invesco KBW Property &amp; Casualty Insurance ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWP#NASDAQ">KBWP</a>), up 0.58%</li>
</ul>
What&#8217;s Next: Moody's will provide a final industry loss estimate for Milton by the end of this week.
The National Hurricane Center is tracking a tropical depression in the Atlantic Ocean. 
Though it can bring heavy rain and cause flooding, a tropical depression is generally weak; if wind speeds increase beyond 39 miles per hour, it can develop into a tropical storm or hurricane if conditions allow.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Mon 10/14 8am EDT: <a href="https://twitter.com/hashtag/AL94?src=hash&amp;ref_src=twsrc%5Etfw">#AL94</a> has a chance of developing into a tropical depression as it approaches, or moves near the northern <a href="https://twitter.com/hashtag/LeewardIslands?src=hash&amp;ref_src=twsrc%5Etfw">#LeewardIslands</a> late this week. <a href="https://t.co/1aFZ3ykENk">pic.twitter.com/1aFZ3ykENk</a>
&mdash; National Hurricane Center (@NHC_Atlantic) <a href="https://twitter.com/NHC_Atlantic/status/1845796399990129124?ref_src=twsrc%5Etfw">October 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Now Read:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41319060/s-p-500-extends-record-highs-dow-breaks-43-000-ahead-of-pivotal-earnings-week-bitco">S&amp;P 500 Extends Record Highs, Dow Breaks 43K, Bitcoin Rallies: What&#8217;s Driving Markets Monday?</a></li>
</ul>
Photo: Shutterstock

Insurance

ETFs

iShares Dow Jones US Insurance Index Fund

KBWP

Hurricanes Helene, Milton Insurance Losses Spike To $55B: Moody's

Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) showed off its humanoid robot, Optimus, at the company's "We, Robot&#8221; unveiling event last Thursday. According to a Bloomberg report, humans were remotely assisting the Optimus robot prototypes<a href="https://www.benzinga.com/news/24/10/41285210/tesla-stock-falls-nearly-3-in-overnight-trading-on-robinhood-after-self-driving-cybercab-unveil"> with some functions.</a>&nbsp;
The Details: Tesla CEO Elon Musk showcased the latest version of his Optimus robots during the Cybercab (robotaxi) reveal, which also happened at the event, and predicted the humanoid robots would become &#8220;the biggest product ever of any kind.&#8221; Musk did not reveal the robots were assisted or controlled remotely by humans. 
According to the Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-10-14/tesla-s-optimus-robots-were-remotely-operated-at-cybercab-event?srnd=homepage-americas&amp;sref=TBDibEcD">report</a>, Tesla employees remotely oversaw interactions between the Optimus robots and attendees of the event, said the sources who asked not to be identified. The sources reported the Optimus humanoid robot prototypes were able to walk unassisted using AI. Tesla did not immediately respond to Bloomberg's request for comment.&nbsp;
Read Next: <a href="https://www.benzinga.com/fintech/24/10/41295297/whats-going-on-with-sofi-technologies-stock">What&#8217;s Going On With SoFi Technologies Stock?</a>
Several videos posted on social media show event attendees interacting with the robots who served drinks, sang &#8220;Happy Birthday&#8221; and even danced with guests. A video <a href="https://x.com/minchoi/status/1845070881191612916">posted on X</a> shows an Optimus robot serving in a bartending role and confirming he was being remotely assisted by a human.&nbsp;
"Today, I'm assisted by a human. I'm not yet fully autonomous," the Optimus robot said in the video.&nbsp;
Another video <a href="https://x.com/Scobleizer/status/1844594008225611858">shows a guest</a> asking Optimus how much of the robot is controlled by AI.&nbsp;
&#8220;I can&#8217;t disclose just how much, that&#8217;s something you&#8217;ll have to find out later,&#8221; the robot said. &#8220;I would say, it might be some. I&#8217;m not going to confirm, but it might be some.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I asked. <a href="https://t.co/FkgPrdRlyW">pic.twitter.com/FkgPrdRlyW</a>
&mdash; Robert Scoble (@Scobleizer) <a href="https://twitter.com/Scobleizer/status/1844594008225611858?ref_src=twsrc%5Etfw">October 11, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Some Tesla influencers and investors said they felt betrayed or misled by Tesla's nondisclosure of Optimus' human assistance. But <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41298220/uber-analysts-unfazed-by-teslas-cybercab-reveal-eye-stronger-av-position">several analysts</a> felt Optimus' interactions with guests at the event were impressive and are a potential catalyst for the company.&nbsp;
Wedbush's Dan Ives <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41295072/tesla-robotaxi-day-event-more-fanfare-than-substance-8-analysts-on-cybercab-optimus">highlighted</a> "the massive improvements in Optimus&#8221; and said Cybercab and Optimus &#8220;could be a major financial contributor to Tesla&#8221; following last week's event.&nbsp;
TSLA Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Tesla shares ended Monday's session 0.62% higher at $219.16.&nbsp;
Read Also:
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<li><a href="https://www.benzinga.com/news/24/10/41277250/whats-going-on-with-first-solar-stock">What&#8217;s Going On With First Solar Stock?</a></li>
</ul>
Photo: Shutterstock&nbsp;

Tech

Tesla's Optimus Robots Were Remotely Assisted By Humans At 'We, Robot' Event

These preliminary&nbsp;Third Quarter&nbsp;2024 revenue and Adjusted EBITDA results are within its previously announced&nbsp;guidance&nbsp;ranges.&nbsp;&nbsp;

Guidance

Forum Energy Technologies Reports Preliminary Q3 Revenue Of Approximately $208M (Est $214.5M), Bookings Of $205M

Federal Reserve Gov. Christopher J. Waller voiced concerns Monday over recent inflation data, signaling that the central bank must proceed cautiously <a href="https://www.benzinga.com/topic/interest-rates">on interest rate cuts. </a>
Speaking at a conference at Stanford University, Waller struck a slightly hawkish tone, highlighting the U.S. economy's strength while acknowledging worries over recent inflation upticks.
<h1 class="wp-block-heading">Solid Economic Growth but Disappointing Inflation</h1>
Waller emphasized the economy is on &#8220;solid footing,&#8221; with employment near the Federal Open Market Committee&#8217;s (FOMC) maximum objective. But he added, &#8220;The latest inflation data was disappointing.&#8221;
Despite progress in reducing inflation, recent figures suggest uneven progress toward the Fed&#8217;s 2% target.
Waller praised the economy&#8217;s resilience, noting that real GDP grew at a 2.2% annual rate in the first half of 2024 and is expected to accelerate in the third quarter. 
He also mentioned that household resources remain in good shape, though lower-income groups continue to face financial strain. &#8220;These revisions suggest that the economy is much stronger than previously thought, with little indication of a major slowdown in economic activity,&#8221; Waller said.
<h1 class="wp-block-heading">&#8216;Considerable Pent-Up Demand&#8217; As Interest Rates Fall</h1>
Waller highlighted continued strength in consumer spending, despite some moderation. 
Growth in personal consumption expenditures (PCE) has averaged around 2.5% this year. Waller&#8217;s business contacts expressed optimism about &#8220;considerable pent-up demand&#8221; for durable goods and home improvements, demand that has been delayed due to high interest rates.
As interest rates for credit cards and home equity loans begin to decline, Waller expects consumers to resume purchasing &#8220;durable goods, home improvements, and other big-ticket items.&#8221; 
&#8220;Now that rates have started to come down and are expected to come down more, consumers will be eager to make those purchases,&#8221; he said. 
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<h1 class="wp-block-heading">Jobs Market Remains Quite Healthy</h1>
Waller also addressed the September jobs report, which far exceeded expectations. &#8220;The labor market remains quite healthy,&#8221; he said, pushing back against speculation that the Fed might have considered an emergency rate cut earlier in the summer. 
While Waller expects payroll gains to slow, he believes job growth will continue at a &#8220;solid rate.&#8221;
He did, however, caution that interpreting the October jobs report may be difficult due to temporary disruptions from recent hurricanes and the Boeing strike, which are expected to skew the numbers.
<h1 class="wp-block-heading">Inflation Rollercoaster and Rate Outlook</h1>
Turning to inflation, Waller expressed concern over September's likely increase in PCE inflation, the Fed's preferred measure. &#8220;We have made a lot of progress on inflation over the last year and a half, but that progress has clearly been uneven — at times it feels like being on a rollercoaster,&#8221; Waller said.
He remains uncertain whether the recent uptick in inflation is a temporary blip or a signal of more persistent inflationary pressures. &#8220;I will be watching the data carefully to see how persistent this recent uptick is,&#8221; he added.
Despite these concerns, Waller reaffirmed his outlook for gradual rate reductions over the next year, aligning with the FOMC&#8217;s median projection of 3.4% for the federal funds rate by the end of 2025. 
However, he acknowledged, &#8220;There is less certainty about the final destination.&#8221;
<h1 class="wp-block-heading">Market Reactions</h1>
Waller&#8217;s remarks have not significantly shifted interest-rate expectations. According to the CME FedWatch Tool, the odds of a 25-basis-point rate cut remained steady at 86%. 
However, if more Fed policymakers also express concerns about inflation in the days to come, and if Thursday's retail sales data exceeds expectations, the likelihood of the Fed holding rates unchanged could rise from here.
On Monday, Treasury yields were largely stable, with the two-year note yield — sensitive to rate policy — hovering around 4%. The U.S. dollar index (DXY), tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), rose 0.3%, reaching its highest level since late July.
Meanwhile, the S&amp;P 500 index, monitored via the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), gained 0.8% to close at 5,859 points, extending its record highs.
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Macro Economic Events

Broad U.S. Equity ETFs

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Econ #s

Economics

Federal Reserve

PowerShares DB US Dollar Index Bullish Fund

Fed's Waller Signals Caution On Interest-Rate Cuts: 'Latest Inflation Data Was Disappointing'

Offerings

Forum Energy Technologies Reports Commencement Of Backstopped Private Offering Of $100M Of 5-year Senior Secured Bonds

<a href="https://www.forexlive.com/centralbank/feds-kashari-says-a-lot-of-progress-made-on-inflation-labor-market-is-strong-20241014/" title="https://www.forexlive.com/centralbank/feds-kashari-says-a-lot-of-progress-made-on-inflation-labor-market-is-strong-20241014/">https://www.forexlive.com/centralbank/feds-kashari-says-a-lot-of-progress-made-on-inflation-labor-market-is-strong-20241014/</a>

Fed's Kashkari Says We've Made A Lot Of Progress On Inflation, And Labor Market Is Strong; Not Worth It To Have Unemployment Rate Shoot Up; Don't Think China Is Remotely Competitive With U.S.; Not At All Worried That Yuan Could Replace Dollar As Global Reserve Currency; U.S. Competitive Position Is Very Very Strong, Though Can't Take It For Granted

INVO BioScience, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INVO#NASDAQ">INVO</a>) shares soared Monday after the company announced it closed <a href="https://www.benzinga.com/pressreleases/24/10/g41312767/invo-bioscience-and-naya-biosciences-close-merger-combined-company-to-operate-as-naya-biosciences-">its merger with NAYA Biosciences. </a>
The Details: Invo BioScience said the combined company will continue to operate its fertility business as well as expand its focus to the development of clinical-stage assets in oncology and autoimmune diseases. The company expects to change its name to Naya Biosciences and trade on the Nasdaq under the &#8220;NAYA&#8221; ticker.&nbsp;
The combined company will be led by Invo CEO Steve Shum, Invo CFO Andrea Goren and Dr. Daniel Teper, founder and former CEO of Naya Biosciences, who will be appointed as president of the combined company and CEO of the Naya Therapeutics subsidiary.&nbsp;
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&#8220;We are confident that our expanded portfolio business model and combined assets have the potential to create significant value for both legacy and new shareholders,&#8221; said Steve Shum, CEO of the combined company.
&#8220;Combining scalable, profitable revenues from our fertility business with the upside of innovative therapeutics optimizes risk-return for investors. In addition, the hub-and-spoke model allows for shared resources and talent to accelerate the development of our lean, agile subsidiaries," Shum said.&nbsp;
Invo shares climbed on heavy trading volume following Monday's announcement with more than 54 million shares traded in the session, according to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>.&nbsp;
INVO Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Invo BioScience shares are up 1.61% after-hours at $1.24 after gaining 92.55% in Monday&#8217;s regular session.
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Photo: Shutterstock&nbsp;

Health Care

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INVO

What Happened With Invo BioScience Stock Today?

Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) has outperformed the market over the past 15 years by 24.28% on an annualized basis producing an average annual return of 36.11%. Currently, Netflix has a market capitalization of $306.28 billion. 
Buying $100 In NFLX: If an investor had bought $100 of NFLX stock 15 years ago, it would be worth $10,022.09 today based on a price of $713.67 for NFLX at the time of writing.
<h3>Netflix's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728941426_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

NFLX

Here's How Much $100 Invested In Netflix 15 Years Ago Would Be Worth Today

EOG Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) has outperformed the market over the past 20 years by 2.05% on an annualized basis producing an average annual return of 10.7%. Currently, EOG Resources has a market capitalization of $74.42 billion. 
Buying $1000 In EOG: If an investor had bought $1000 of EOG stock 20 years ago, it would be worth $7,702.94 today based on a price of $130.89 for EOG at the time of writing.
<h3>EOG Resources's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728941421_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $1000 In This Stock 20 Years Ago, You Would Have $7,700 Today

ATEK

Athena Technology Acquisition Corp. II Says Financial Statements Contained Audit Opinion That Included Explanatory Paragraph Related To Ability To Continue As Going Concern

IMAX, CPOP among major communication services gainers; IAS, SSP among losers

The market has been high on Baosheng Media Group Holdings Ltd (BAOS)  stock recently. BAOS gets a Bullish score from InvestorsObserver Stock Sentiment Indicator. Baosheng Media Group Holdings Ltd has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on BAOS!See Full BAOS ReportW

Should You Buy Baosheng Media Group Holdings Ltd (BAOS) Stock on Thursday?

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PARA, AMC among major communication services gainers; NFLX, TC among losers

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Baosheng Media Confronts Shareholder Lawsuit

Baosheng Media Group Holdings Ltd (BAOS) has released an update. Baosheng Media Group Holdings Ltd faces a significant legal challenge as a petitio...

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CMCM, BZFD among major communication services gainers; MDIA, IHRT among losers

KUKE, FENG among major communication services gainers; CCG, MSGM among losers

Baosheng Media Group Holdings (BAOS) has released an update. Baosheng Media Group Holdings Limited has faced the termination of two significant inv...

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Thinking about buying stock in WeTrade Group, Nio, Arista Networks, Baosheng Media, or TAL Education Group?

Baosheng Media Group Holdings Limited Announces Filing of Current Report on Form 6-K with the SEC regarding Pending Legal Proceeding

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