Concerns over <a href="https://www.benzinga.com/topic/tariffs">trade tariffs continue</a> to rattle financial markets, fueling economic uncertainty and sparking heightened volatility across asset classes.



President Donald Trump initially proposed a 25% tariff on imports from Mexico and Canada starting from Tuesday, but later excluded automobiles before ultimately deciding to postpone all tariffs covered under the North American <a href="https://www.benzinga.com/news/25/03/44143647/trump-considering-tariff-relief-for-mexico-canada-commerce-secretary-lutnick-says">trade agreement until April 2.</a>



The U.S. dollar suffered heavy losses, with the Dollar Index posting its steepest weekly decline since November 2022, effectively wiping out gains made following Trump's election victory.



Wall Street extended its losing streak to three consecutive weeks, with the Nasdaq 100 <a href="https://www.benzinga.com/25/03/44197558/whats-moving-markets-friday">sliding into correctio</a>n territory after tumbling more than <a href="https://www.benzinga.com/25/03/44186189/nasdaq-100-to-enter-bear-market-territory-next-two-weeks-crucial-as-35-fall-following-correction-can-make-it-a-reality-warns-analyst">10% from its peak.</a> The S&amp;P 500 also gave up all gains accumulated post-Trump election.



Energy and financial stocks led the decline, as investors trimmed their growth forecasts for the U.S. economy in response to trade uncertainty and weaker economic data.



Fresh estimates from the Atlanta Fed's GDPNow model suggest that real GDP growth for the first quarter of 2025 could shrink by 2.4% annualized. 



Market expectations for Federal Reserve policy have also shifted significantly. Just a month ago, traders priced in only one rate cut by year-end, but now three cuts are fully anticipated.



On the <a href="https://www.benzinga.com/general/market-summary/25/03/44194357/markets-breathe-sigh-of-relief-as-february-jobs-data-shows-economy-not-falling-off-a-cliff-economist-says">labor market front</a>, the pace of job creation stood at 151,000 in February, up from 125,000 in January but slightly below forecasts of 160,000. The unemployment rate edged up from 4% to 4.1%, slightly above forecasts of an unchanged reading.



Wage growth also showed signs of slowing, with average hourly earnings rising 0.3% month-over-month, down from January's 0.4% increase.



Bitcoin prices softened despite a major policy move from the White House. Trump signed an executive order establishing a Strategic Bitcoin Reserve, aimed at leveraging seized digital assets for government use.



David Sacks, the White House&#8217;s crypto and AI policy leader revealed the reserve would be entirely funded using Bitcoin confiscated from illicit activities through criminal or civil asset forfeiture cases, meaning it wouldn't impose any direct <a href="https://www.benzinga.com/25/03/44183572/trump-establishes-strategic-bitcoin-reserve-funded-by-forfeited-assets-i-made-the-promise">financial cost on taxpayers.</a>&nbsp;



<h1 class="wp-block-heading">Auto Stocks Surge</h1>



Shares of major Michigan-based automakers rebounded as Trump postponed tariffs on Mexican imports, giving Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), General Motors Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), and Stellantis NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) short-term relief, though <a href="https://www.benzinga.com/etfs/sector-etfs/25/03/44153070/auto-etfs-surge-on-trumps-tariff-reprieve-but-uncertainty-looms">long-term uncertainty persists.</a> Read Next: •<a href="https://www.benzinga.com/news/25/03/44196560/bessent-describes-economic-detox-period-as-us-shifts-to-trump-policies"> Bessent Describes Economic &#8216;Detox Period&#8217; As US Shifts To Trump Policies</a>



Image created using artificial intelligence via Midjourney.

Global

Markets

STLA

Tariff Uncertainty Roils Wall Street, Dollar Suffers A Blow, Bitcoin Slips Despite US Strategic Reserve: This Week In Markets

Federal Reserve Chair Jerome Powell is taking a measured approach, carefully assessing the impact of President Donald Trump's shifting trade policies on economic stability before making any adjustments to monetary policy while evolving trade policies contribute to <a href="https://www.benzinga.com/25/03/44189725/unemployment-rate-ticks-higher-in-february-us-economy-adds-fewer-jobs-than-expected">economic uncertainty</a>.



What Happened: Speaking Friday at an <a href="https://www.youtube.com/watch?v=sBQVhbF1elo&amp;ab_channel=CNBCTelevision">event</a> hosted by the University of Chicago, Powell reassured that despite market volatility, the U.S. economy remains stable. He emphasized the central bank sees no urgent need to adjust interest rates until there is more clarity.



"We do not need to rush and are in a strong position to wait for better insight," Powell stated. He pointed out sentiment surveys have not consistently predicted consumer spending trends, reinforcing the Fed's focus on analyzing concrete economic indicators.



Read Also: <a href="https://www.benzinga.com/news/25/03/44196560/bessent-describes-economic-detox-period-as-us-shifts-to-trump-policies">Bessent Describes Economic &#8216;Detox Period&#8217; As US Shifts To Trump Policies</a>



Uncertainty in trade policy has disrupted business confidence and market performance, with major indexes such as the S&amp;P 500 erasing post-election gains and the Nasdaq falling into correction territory. Consumer confidence <a href="https://www.benzinga.com/government/regulations/25/03/44171377/retailers-warn-of-price-increases-due-to-trump-tariffs-as-consumer-health-concerns-persist">has also declined</a>, as inflation fears linked to tariffs weigh on sentiment.



What Else: Powell on Friday also highlighted that monetary policy decisions consider a broad range of factors beyond tariffs. "It's about overall economic growth and the cumulative effects of these sweeping policy changes," he noted.



With inflation above target levels, some Fed officials, including St. Louis Fed President Alberto Musalem, caution <a href="https://www.benzinga.com/news/25/03/44092335/trumps-tariffs-threaten-canada-mexico-china-and-american-wallets">stagflation remains a possibility</a>.



While financial markets expect rate cuts, Powell underscored the Fed's patient approach, stating, "Our current policy stance is well-positioned to address the risks and uncertainties ahead."



Read Next:<a href="https://www.benzinga.com/general/social-media/25/03/44098232/markets-tank-after-trump-confirms-more-tariffs-heres-what-wall-street-is-saying" target="_blank" rel="noreferrer noopener">&nbsp;</a>



<ul>
<li><a href="https://www.benzinga.com/general/social-media/25/03/44098232/markets-tank-after-trump-confirms-more-tariffs-heres-what-wall-street-is-saying" target="_blank" rel="noreferrer noopener">Markets Tank After Trump Confirms More Tariffs: Here&#8217;s What Wall Street Is Saying</a></li>
</ul>



Photo: Courtesy Federal Reserve

Government

News

Economics

Federal Reserve

Powell Stresses Patience As Fed Navigates Market Uncertainty, Trade Turmoil

Financial markets have been volatile since President&nbsp;Donald Trump&#8216;s <a href="https://www.benzinga.com/news/24/11/41768178/donald-trump-defeats-kamala-harris-to-win-2024-election">election on Nov. 5, 2024</a>, and subsequent inauguration. Which companies have surged under the new administration and which have struggled?



Best Performers: Six companies in the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) have returned over 30% since Nov. 5, 2024, according to data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro.</a>



Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) leads the pack, rocketing up 59.91% from $51.13 to $81.76. The Denver, Colorado-based company&#8217;s annualized return is over 184%. The retail investor darling has capitalized on AI trends and CEO Alex Karp&#8217;s support for Elon Musk&#8217;s government efficiency efforts, which he defended as a push to eliminate <a href="https://www.benzinga.com/markets/equities/25/02/43806845/palantir-ceo-alex-karp-backs-elon-musks-government-efficiency-efforts-calls-him-most-important-builder">fraud, waste, and abuse.</a>



According to Benzinga Edge, the company has momentum on its side, scoring a very high 99 out of 100, though it lags on key valuation metrics, indicating the stock could be overvalued.



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/pltr"><img loading="lazy" decoding="async" width="1024" height="232" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/07132016/Screenshot-2025-03-07-at-1.20.11-PM-1024x232.png" alt="" class="wp-image-814893" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/07132016/Screenshot-2025-03-07-at-1.20.11-PM-1024x232.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/07132016/Screenshot-2025-03-07-at-1.20.11-PM-300x68.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/07132016/Screenshot-2025-03-07-at-1.20.11-PM-768x174.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/07132016/Screenshot-2025-03-07-at-1.20.11-PM.png 1340w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<ul>
<li>Unlock the rest of the BZ Edge Rankings and <a href="https://www.benzinga.com/quote/TPR">see how&nbsp;Tapestry Inc. stacks up</a></li>
</ul>



Five other stocks have returned 30% or more since Trump&#8217;s election victory:



<ul>
<li>Tapestry Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPR#NYSE">TPR</a>), up 49.66% (148.56% annualized).</li>



<li>Warner Bros Discovery Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>), up 35.32% (105.68% annualized).</li>



<li>VeriSign, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRSN#NASDAQ">VRSN</a>), up 33.19% (99.30% annualized).</li>



<li>Super Micro Computer Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), up 33.32% (99.69% annualized).</li>



<li>Gilead Sciences Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>), up 30.48% (91.19% annualized).</li>
</ul>



Worst Performers: Several other S&amp;P 500 companies have fared much worse since Trump prevailed in the November election.



Some poor performers have been impacted by Trump&#8217;s policies. First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), a manufacturer of solar panels, has seen its stock decline amid concerns about Trump&#8217;s support for fossil fuels. The Tempe, Arizona-based company&#8217;s shares have sunk 36.41% since Nov. 5, 2024.



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/FSLR"><img loading="lazy" decoding="async" width="1024" height="230" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/07133556/Screenshot-2025-03-07-at-1.35.52-PM-1024x230.png" alt="" class="wp-image-814924" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/07133556/Screenshot-2025-03-07-at-1.35.52-PM-1024x230.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/07133556/Screenshot-2025-03-07-at-1.35.52-PM-300x67.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/07133556/Screenshot-2025-03-07-at-1.35.52-PM-768x173.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/07133556/Screenshot-2025-03-07-at-1.35.52-PM.png 1316w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



Benzinga Edge indicates the company may be undervalued at depressed valuations but does not fare well with its momentum and growth prospects.



Four other stocks round of the worst performers in the S&amp;P 500 since Trump&#8217;s win:



<ul>
<li>Iron Mountain Inc&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IRM#NYSE">IRM</a>) shares declined 34.47%.</li>



<li>ON Semiconductor Corp&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) shares fell 35.71%.</li>



<li>FMC Corp&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FMC#NYSE">FMC</a>) shares tumbled 35.32%.</li>



<li>Celanese Corp&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CE#NYSE">CE</a>) shares sunk 39.6%.</li>
</ul>



Also Read:



<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/03/44194357/markets-breathe-sigh-of-relief-as-february-jobs-data-shows-economy-not-falling-off-a-cliff-economist-says">Markets Breathe &#8216;Sigh Of Relief&#8217; As February Jobs Data Shows Economy &#8216;Not Falling Off A Cliff,&#8217; Economist Says</a></li>
</ul>



Disclaimer: The author owns shares of Warner Bros. Discovery at the time of publication.



Image created using artificial intelligence via Midjourney.

Equities

Large Cap

Mid Cap

Broad U.S. Equity ETFs

Politics

ETFs

FSLR

GILD

PLTR

SMCI

VRSN

Best And Worst Performing S&P 500 Stocks Since Trump's Election Win

Plans for a strategic reserve including Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and possibly other cryptocurrencies have been one of the hottest topics in<a href="https://www.benzinga.com/25/03/44183572/trump-establishes-strategic-bitcoin-reserve-funded-by-forfeited-assets-i-made-the-promise"> the cryptocurrency sector.</a>



Benzinga polled readers to ask which cryptocurrencies the White House administration should be most focused on for the strategic reserve.



What Happened: The election of Donald Trump as president in the 2024 election sent many cryptocurrencies, including Bitcoin, <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41778425/bitcoins-all-time-high-a-groundbreaking-milestone-and-strong-post-election-rally-coming-ex">to all-time highs.</a>



Trump's new Executive Order to establish a Strategic Bitcoin Reserve will see the initial funding from Bitcoin owned by the federal government that won't be sold.



The news follows a social media post from Trump on March 2 that said a reserve <a href="https://www.benzinga.com/25/03/44068814/bitcoin-ethereum-dogecoin-rally-on-trumps-strategic-crypto-reserve-announcement-cardano-xrp-solana-skyrocket-analyst-says-btcs-new-ath-possible-later-in-the-month">could include cryptocurrencies </a>such as Bitcoin, Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>) and XRP Token (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>).



Benzinga asked readers about the potential cryptocurrencies.



"Which cryptocurrency do you think the U.S. government should prioritize in its digital strategy?" Benzinga asked.



Here are the results:



<ul>
<li>Bitcoin: 62%</li>



<li>Ethereum: 18%</li>



<li>XRP Token: 16%</li>



<li>Solana: 5%</li>



<li>Cardano: 0%</li>
</ul>



The poll found the majority of readers think Bitcoin should be the priority of any digital asset strategy. Ranking second was a close battle between Ethereum and XRP Token. Solana and Cardano ranked a distant fourth and fifth with Cardano receiving no votes in the poll.



Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44189645/strategic-bitcoin-reserve-cements-digital-gold-narrative-advocates-point-out">Strategic Bitcoin Reserve Cements &#8216;Digital Gold&#8217; Narrative, Advocates Point Out</a>



Why It's Important: Trump has signaled Bitcoin will be the focus of the fund while investors are now left guessing or waiting to hear if other cryptocurrencies will be added to the strategic reserve.



The cryptocurrency community has been mixed on the inclusion of other assets with some questioning why XRP Token or Cardano would be held over Ethereum and other top assets.



Before the&nbsp;strategic crypto reserve&nbsp;was announced by Trump with possible cryptocurrency choices, <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44155576/bitcoin-ethereum-solana-stablecoins-or-no-crypto-in-2025-heres-what-readers-choose">Benzinga polled readers</a> asking about 2025.



&#8220;Which crypto asset are you most likely to invest in during 2025?&#8221; Benzinga asked.



The results were:



<ul>
<li>None, I&#8217;m staying away: 43%</li>



<li>Bitcoin: 35%</li>



<li>Ethereum: 10%</li>



<li>Solana: 10%</li>



<li>Stablecoins: 3%</li>
</ul>



The leading vote-getter in the poll was people staying away from cryptocurrency, receiving nearly half of the vote. Of the four cryptocurrency options including stablecoins, Bitcoin was the leading vote-getter with 35% of the vote.



Ethereum and Solana each got 10% of the vote with stablecoins ranking last at 3%.



The poll shows that when it comes to investing in cryptocurrency in 2025, investors are either staying away or likely buying Bitcoin.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44194484/congressman-on-digital-assets-subcommittee-buys-bitcoin-etf-before-trumps-strategic-reserve-announcement">Congressman On Digital Assets Subcommittee Buys Bitcoin ETF Before Trump&#8217;s Strategic Reserve Announcement</a></li>
</ul>



The study was conducted by Benzinga from March 6, 2025, through March 7, 2025. It included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 103 adults.



Photo: Shutterstock AI

Cryptocurrency

Exclusives

$ADA

$BTC

$ETH

$SOL

$XRP

Bitcoin, Ethereum, Solana, XRP Or Cardano: Readers Rank The Order Of Importance For Trump's Crypto Reserve

All three major indices were red in Friday&#8217;s midday trading, with the S&amp;P 500 and Nasdaq 100 down 1% and 1.24%, respectively, and on track for their worst weeks since September 2024. The Nasdaq fell into correction territory on Friday after dropping more than 10% below<a href="https://www.benzinga.com/news/25/03/44196560/bessent-describes-economic-detox-period-as-us-shifts-to-trump-policies"> its peak in February. </a>



Tariff announcements and uncertainty roiled markets throughout the week. President Donald Trump on Thursday suspended <a href="http://Namrata Sen Canadian PM Justin Trudeau Retaliates With 25% Tariffs On US Goods Amid Escalating Trade War (CORRECTED) Canadian Prime Minister Justin Trudeau has announced a 25% tariff on $155 billion worth of U.S. goods. This decision comes as a direct response to the 25% tariffs imposed by U.S. President Donald Trump on Canadian goods, as reported by BNN Bloomberg. 3/7/2025, 4:05 AM">all tariffs</a> on products covered by the North American trade agreement until April 2, though it had little effect on market volatility.



Read Next: <a href="https://www.benzinga.com/general/market-summary/25/03/44194357/markets-breathe-sigh-of-relief-as-february-jobs-data-shows-economy-not-falling-off-a-cliff-economist-says">Markets Breathe &#8216;Sigh Of Relief&#8217; As February Jobs Data Shows Economy &#8216;Not Falling Off A Cliff,&#8217; Economist Says</a>



"The stock market is moving in lockstep with tariff headlines, and that is likely to keep volatility very elevated for the foreseeable future, as the market does not like uncertainty," said Glen Smith, chief investment officer at GDS Wealth Management, per CNBC. 



"While we expect the market to find its footing and recover from the tariff-driven selloff, investors should brace for continued choppiness until these uncertainties clear," Smith added. 



The yield on the 10-year US Treasury note dipped to the 4.23% mark on Friday after a softer-than-expected February <a href="https://www.benzinga.com/25/03/44189725/unemployment-rate-ticks-higher-in-february-us-economy-adds-fewer-jobs-than-expected">jobs report</a> added to concerns of a slowing U.S. economy. The BLS nonfarm payrolls report showed the U.S. added 151,000 jobs in February, below market expectations of 160,000, as tracked by Trading Economics. The unemployment rate ticked unexpectedly higher to 4.1%, above the 4.0% expected. 



The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) rose 0.6% to $90.94. 



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell back below $90,000 after President Donald Trump signed an executive order establishing a strategic Bitcoin reserve on Thursday. The President&#8217;s crypto summit will be held at the White House later on Friday with the potential for additional catalysts for cryptocurrencies.



Wall Street now looks ahead to next week&#8217;s inflation data, JOLTS job openings report and preliminary figures for the Michigan consumer sentiment index. 



<h1 class="wp-block-heading">Friday's Performance In Major U.S. Indices, ETFs</h1>



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Major Indices</td><td>Price</td><td>1 day % chg.</td></tr><tr><td>Nasdaq 100</td><td>17,822.68</td><td>-1.38%</td></tr><tr><td>S&amp;P 500</td><td>5,680.26</td><td>-1.01%</td></tr><tr><td>Dow Jones</td><td>42,261.60</td><td>-0.74%</td></tr><tr><td>Russell 2000</td><td>2,036.80</td><td>-1.44%</td></tr></tbody></table></figure>



According to Benzinga Pro data:



<ul>
<li>The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) dropped 0.84% to $567.87. </li>



<li>The SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) was down 0.61% at $423.31. </li>



<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) slid 1.17% to $482.49. </li>



<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) was down 1.35% to $202.50.</li>



<li>The Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) fell 2.28% to $201.35.&nbsp;</li>



<li>The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) rose 1.28% to $87.06.&nbsp;</li>
</ul>



<h1 class="wp-block-heading">Friday&#8217;s Stock Movers&nbsp;</h1>



Broadcom, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) shares moved higher Friday after the <a href="https://www.benzinga.com/quote/AVGO#:~:text=Broadcom%20Shares%20Jump,intelligence%20chip%20selloff.">company reported</a> better-than-expected first-quarter financial results and strong forward guidance.



Stocks reacting to company earnings reports included:&nbsp;



<ul>
<li>Costco Wholesale Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>) </li>



<li>Hewlett Packard Enterprise Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) </li>



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



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



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



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



<li>Algonquin Power &amp; Utilities Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AQN#NYSE">AQN</a>) </li>



<li>Genesco Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCO#NYSE">GCO</a>) </li>
</ul>



Companies reporting on Monday include: 



<ul>
<li>Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) </li>



<li>Vail Resorts, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTN#NYSE">MTN</a>) </li>



<li>Asana, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASAN#NYSE">ASAN</a>) </li>



<li>BioNTech SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>) </li>



<li>Grupo Supervielle S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUPV#NYSE">SUPV</a>) </li>



<li>Hesai Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSAI#NASDAQ">HSAI</a>) </li>



<li>Redwire Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDW#NYSE">RDW</a>) </li>
</ul>



Read Next:<a href="https://www.benzinga.com/general/social-media/25/03/44098232/markets-tank-after-trump-confirms-more-tariffs-heres-what-wall-street-is-saying" target="_blank" rel="noreferrer noopener">&nbsp;</a>



<ul>
<li><a href="https://www.benzinga.com/general/social-media/25/03/44098232/markets-tank-after-trump-confirms-more-tariffs-heres-what-wall-street-is-saying" target="_blank" rel="noreferrer noopener">Markets Tank After Trump Confirms More Tariffs: Here's What Wall Street Is Saying</a></li>
</ul>



Image: Shutterstock

Market Summary

Sector ETFs

Movers

General

ASAN

AVGO

BNTX

COST

FNKO

HSAI

ORCL

RELI

SERV

SUPV

Nasdaq Falls Into Correction As Tariffs Roil Wall Street: What's Moving Markets Friday?

Treasury Secretary Scott Bessent acknowledged signs of economic weakness in the U.S. on Friday, citing a necessary adjustment as the country shifts from government-driven to <a href="https://www.benzinga.com/topic/economics">private sector-driven growth.</a>



What Happened: Speaking on <a href="https://www.cnbc.com/2025/03/07/treasury-secretary-bessent-says-economy-could-be-starting-to-roll-a-little-bit.html">CNBC's</a> Squawk Box, Bessent suggested the economy had become "addicted" to public spending and would undergo a "detox period."



His remarks referenced the administration inherited from former President Joe Biden, under whom economic growth was strong but showed signs of slowing in late 2024.



Read Also: <a href="https://www.benzinga.com/government/regulations/25/03/44190371/nasdaq-plans-24-hour-trading-to-tap-global-investor-demand">Nasdaq Plans 24-Hour Trading To Tap Global Investor Demand</a>



Since taking office in January, President Donald Trump has focused on reshaping global trade and reducing the federal workforce. However, CNBC noted that concrete economic data reflecting Trump's policies remains limited.



The <a href="https://www.benzinga.com/25/03/44189725/unemployment-rate-ticks-higher-in-february-us-economy-adds-fewer-jobs-than-expected">February jobs report</a> showed an increase in unemployment to 4.1% and job gains below expectations. Bessent on Squak Box downplayed inflation concerns, pointing to lower oil prices and <a href="https://www.benzinga.com/news/25/03/44173506/mortgage-rates-drop-ahead-of-spring-homebuying-season-will-consumers-take-the-plunge">mortgage rates</a>.



On Thursday, Bessent <a href="https://www.benzinga.com/news/global/25/03/44178376/bessent-backs-trump-tariffs-says-us-trade-needs-to-be-reciprocal">defended Trump&#8217;s newly announced tariffs </a>as necessary for economic balance, while businesses expressed concerns about rising costs and potential disruptions to investment.



He also emphasized improved financial regulatory coordination, which aligns with broader efforts by the Trump administration to reduce inefficiencies in government spending.



Read Also: <a href="https://www.benzinga.com/general/market-summary/25/03/44194357/markets-breathe-sigh-of-relief-as-february-jobs-data-shows-economy-not-falling-off-a-cliff-economist-says">Markets Breathe &#8216;Sigh Of Relief&#8217; As February Jobs Data Shows Economy &#8216;Not Falling Off A Cliff,&#8217; Economist Says</a>



Why This Matters: Bessent's comments this week highlight a significant transition in U.S. economic policy, as the Trump administration pivots away from government spending toward private sector-driven growth. 



His remarks suggest concerns over market dependence on federal support, framing the current economic slowdown as an expected adjustment rather than a crisis. However, the weaker-than-expected jobs report and rising unemployment indicate potential headwinds. 



Trump's trade policies, particularly tariffs, have raised concerns about potential supply chain disruptions, though Bessent assured Friday that they won't fuel long-term inflation.



Read Next:



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



Photo: Shutterstock

Bessent Describes Economic 'Detox Period' As US Shifts To Trump Policies

February's jobs report released Friday showed the U.S. economy added fewer jobs than expected, while the unemployment rate unexpectedly ticked higher.&nbsp;Experts are weighing <a href="https://www.benzinga.com/25/03/44189725/unemployment-rate-ticks-higher-in-february-us-economy-adds-fewer-jobs-than-expected">in on the report. </a>



What To Know: The U.S. economy added 151,000 jobs in February, below market expectations of 160,000, as tracked by Trading Economics. The unemployment rate ticked unexpectedly higher to 4.1%, above the 4.0% expected.&nbsp;



Read Next: <a href="https://www.benzinga.com/news/econ-s/25/03/44143666/us-services-sector-unexpectedly-expands-in-february-despite-slowing-job-growth">US Services Sector Unexpectedly Expands In February Despite Slowing Job Growth</a>&nbsp;



Liz Young Thomas, head of investment strategy at SoFi, said the "labor picture remains concerning." She pointed to the uptick in unemployment and a significant rise in underemployment from 7.5% to 8% in a social media <a href="https://x.com/LizThomasStrat/status/1898017379751244038">post</a>.



<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">All in all, the labor picture remains concerning: Unemployment ticked up to 4.1%, underemployment rose significantly from 7.5% to 8.0%, and avg hours worked remained 34.1 (the lowest levels in the last two decades excluding the aftermath of recessions). <a href="https://t.co/26YdKlREj3">pic.twitter.com/26YdKlREj3</a>&mdash; Liz Young Thomas (@LizThomasStrat) <a href="https://twitter.com/LizThomasStrat/status/1898017379751244038?ref_src=twsrc%5Etfw">March 7, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Not all experts were concerned, however.&nbsp;



Chris Zaccarelli, chief investment officer for Northlight Asset Management, said the February jobs report should provide some relief for markets roiled by the recent barrage of tariff headlines.&nbsp;



&#8220;Markets breathed a sigh of relief this morning that the jobs data wasn't worse than expected. It was largely in line and although the unemployment rate ticked up slightly from 4.0% to 4.1%, that's still a low number from a historical perspective."



Charlie Ripley, senior investment strategist for Allianz Investment Management, noted that although the economy is slowing, it is not "falling off a cliff."&nbsp;



Ripley said the Federal Reserve can continue to pause rates at current levels and observe the impacts of tariffs over the next few months. 



Jamie Cox, managing partner for Harris Financial Group, expects the labor market to slow further with the government "in cutting mode."&nbsp; The BLS report showed federal government employment declined by 10,000 positions in February, possibly reflecting initial DOGE cuts.&nbsp;



"The transition from a reliance on government propping up the economy to allowing the market to stand on its own feet will be a little bumpy," Cox said.&nbsp;



Markets React: All three major averages were down Friday, capping a rocky week for the markets. The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), tracking the S&amp;P 500, was down 0.41% at $570.36 and the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), tracking the Nasdaq 100 index, was down 0.61% at $485.23 at the time of publication. 



Read Next:



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



Image: Shutterstock

Econ #s

Markets Breathe 'Sigh Of Relief' As February Jobs Data Shows Economy 'Not Falling Off A Cliff,' Economist Says

On Friday, Nasdaq Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDAQ#NASDAQ">NDAQ</a>) President&nbsp;Tal Cohen shared plans to enable <a target="_blank" href="https://www.benzinga.com/topic/day-trading" rel="noreferrer noopener">24-hour trading</a> on its equities exchange in a LinkedIn <a target="_blank" href="https://www.linkedin.com/feed/update/urn:li:activity:7303761150653939713/" rel="noreferrer noopener">post</a>.



The U.S. exchange operator plans to start round-the-clock trading in the second half of 2026, pending regulatory approval to tap retail investors&#8217; surging interest in U.S. markets in different time zones.



&#8220;Over 56 exchange traded products have launched in the last five years tracking the Nasdaq-100 Index, and 98% of these products were introduced outside of the United States,&#8221; Cohen wrote.



Also Read: <a target="_blank" href="https://www.benzinga.com/media/25/03/44188379/microsoft-pours-297-million-into-ai-and-cloud-expansion-in-south-africa" rel="noreferrer noopener">Microsoft Pours $297 Million Into AI And Cloud Expansion In South Africa</a>



Nevertheless, Cohen also highlighted <a target="_blank" href="https://www.bloomberg.com/news/articles/2025-03-07/nasdaq-joins-exchanges-seeking-to-offer-round-the-clock-trading?sref=TBDibEcD" rel="noreferrer noopener">to</a> Bloomberg the risks associated with increased volatility and higher transaction costs due to the expanded trading hours.



He added that despite the increase in overnight trading, liquidity is still &#8220;significantly lower&#8221; during those hours.



Cohen&#8217;s ambitions also depend on an update to the securities information processor (SIP), which displays the best bid and offer price of a stock on an exchange and needs to be updated to accommodate the extra hours.



Nasdaq will work with other industry participants to mitigate these concerns and risks by forming a group to do so, a spokesperson told Bloomberg.



In January, Cboe Global Markets, Inc. <a target="_blank" href="https://www.benzinga.com/markets/equities/25/02/43472768/cboe-global-markets-announces-plans-for-24-hour-stock-trading" rel="noreferrer noopener">shared plans to</a> extend trading on its equities exchange to 24 hours, five days a week, pending regulatory approval.



In October, the New York Stock Exchange applied to offer trading 22 hours on weekdays.



Robinhood Markets Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) and Interactive Brokers Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBKR#NASDAQ">IBKR</a>) already help customers transact U.S. stocks 24 hours a day, five days a week.



In November 2024, U.S. regulators <a target="_blank" href="https://www.benzinga.com/markets/equities/24/11/42238117/sec-approves-americas-first-24-hour-stock-exchange-what-it-means-for-you" rel="noreferrer noopener">approved the nation&#8217;s</a> first 24-hour stock exchange to&nbsp;24 Exchange, backed by&nbsp;Steve Cohen&#8217;s&nbsp;Point72 Ventures.



Price Action: NDAQ stock is up 0.39% at $76.47 at last check Friday.



Also Read:



<ul>
<li><a href="https://www.benzinga.com/25/03/44175154/composecure-beats-ebitda-estimates-analyst-cuts-price-forecast-amid-resolute-spin-off-and-growth-outlook" target="_blank" rel="noreferrer noopener">CompoSecure Beats EBITDA Estimates But Analyst Cuts Price Forecast Amid Resolute Spin-Off And Growth Outlook</a></li>
</ul>



Photo by Tada Images on Shutterstock

Regulations

Media

HOOD

IBKR

NDAQ

Nasdaq Plans 24-Hour Trading To Tap Global Investor Demand

Industry experts have lauded President Donald Trump's executive order establishing a <a href="https://www.benzinga.com/25/03/44183572/trump-establishes-strategic-bitcoin-reserve-funded-by-forfeited-assets-i-made-the-promise">Strategic Bitcoin Reserve</a>, viewing it as a transformative step that could spur global adoption and legitimize Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) as a financial asset.



The order utilizes 200,000 Bitcoin already held by the federal government from criminal and civil forfeiture proceedings, aiming to position the U.S. as a dominant player in cryptocurrency without taxpayer costs.



What Happened: White House artificial intelligence and crypto czar David Sacks, a key figure in Trump's administration, detailed the executive order's provisions, noting that the reserve will be capitalized with seized Bitcoin, ensuring no additional burden on taxpayers.



"The U.S. will not sell any bitcoin deposited into the Reserve. It will be kept as a store of value," Sacks stated, comparing it to a "digital Fort Knox" for what's often termed "digital gold." 



The order also mandates a full audit of the government's 200,000 Bitcoin holdings—estimated but not yet fully accounted for—and establishes a separate Digital Asset Stockpile for other forfeited cryptocurrencies, managed by the Treasury Department for responsible stewardship.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44176348/trumps-xrp-cardano-inclusion-in-crypto-reserve-proposal-could-be-result-of-businessman-ins">Trump&#8217;s XRP, Cardano Inclusion In Crypto Reserve Proposal Could Be Result Of &#8216;Businessman&#8217; Instincts, MEXC&#8217;s Tracy Jin Says</a>



Coinbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) CEO Brian Armstrong praised the administration's swift action, emphasizing its global implications. 



"Incredible execution from the Trump administration and a historic moment for Bitcoin and crypto! I expect many of the G20 to take notice, and eventually follow America's leadership," he <a href="https://x.com/brian_armstrong/status/1897841607489077548">wrote</a> on X on Thursday.



Matt Hougan, Chief Investment Officer at Bitwise, outlined broader impacts, <a href="https://x.com/Matt_Hougan/status/1897807605764141088">stating</a>, "Dramatically increases the likelihood that other nations will establish strategic bitcoin reserves," while also noting that it reduces the chances of a U.S. ban on Bitcoin and makes it harder for institutions like the IMF to deem it risky. 



Justin Sun, founder of TRON (CRYPTO: TRON), also <a href="https://x.com/justinsuntron/status/1897824269545226296">expressed </a>support, signaling readiness to collaborate with the administration in advancing the industry.



The executive order authorizes the Secretaries of Treasury and Commerce to explore budget-neutral strategies for acquiring additional Bitcoin, though it limits the Digital Asset Stockpile to assets obtained through forfeiture. 



Sacks credited Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Bo Hines, Executive Director of the Working Group on Digital Asset Markets, for their roles in the initiative, underscoring Trump's commitment to making the U.S. the "crypto capital of the world."



Read Next:<a href="https://www.benzinga.com/news/global/25/03/44174606/jpmorgan-questions-viability-of-us-crypto-reserve-cites-issues-with-smaller-tokens"> </a>



<ul>
<li><a href="https://www.benzinga.com/news/global/25/03/44174606/jpmorgan-questions-viability-of-us-crypto-reserve-cites-issues-with-smaller-tokens">JPMorgan Questions Viability of US Crypto Reserve, Cites Issues With Smaller Tokens</a></li>
</ul>



Image: Shutterstock

COIN

Coinbase CEO Brian Armstrong Lauds Donald Trump For 'Incredible Execution' In Establishing Strategic Bitcoin Reserve

The February jobs report from the Bureau of Labor and Statistics, released Friday, showed a moderate increase in employment and also a slight increase in <a href="https://www.benzinga.com/news/econ-s">the unemployment rate. </a>



The U.S. economy added 151,000 jobs in February, up from a downwardly revised 125,000 in January, but below expectations of 160,000, as tracked by Trading Economics. The unemployment rate ticked unexpectedly higher to 4.1%, above the 4.0% expected. 



Read Next: <a href="https://www.benzinga.com/news/econ-s/25/03/44143666/us-services-sector-unexpectedly-expands-in-february-despite-slowing-job-growth">US Services Sector Unexpectedly Expands In February Despite Slowing Job Growth</a>&nbsp;



Unemployed individuals increased by 203,000 to 7.05 million, while employment declined by 588,000 to 163.31 million. The labor force participation rate fell to 62.4%, while the employment-population ratio dipped to 59.9%. 



Employment trended up in health care, financial activities, transportation and warehousing and social assistance. Federal government employment declined, possibly reflecting initial DOGE cuts.&nbsp;



<ul>
<li>Employment increased in health care (+52,000), financial activities (+21,000), transportation and warehousing (+18,000), and social assistance (+11,000).</li>



<li>Federal government employment declined by 10,000.</li>



<li>Average hourly earnings for all employees increased by 0.3% to $35.93, representing a 4.0% increase over the past 12 months.</li>



<li>The average workweek remained unchanged at 34.1 hours</li>
</ul>



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



Futures on major U.S. indices rose following the release of the jobs report.&nbsp;



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), tracking the S&amp;P 500, was up 0.11% at $573.35 and the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), tracking the Nasdaq 100 index, was up 0.29% at $489.60 in premarket trading.&nbsp;



The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) was 0.5% higher in premarket trading.



Gold, which is tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), climbed above $2,920 per ounce, approaching record highs.&nbsp;



Read Next:



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



Image generated using artificial intelligence via MidJourney.

Specialty ETFs

Unemployment Rate Ticks Higher In February, US Economy Adds Fewer Jobs Than Expected

Amid an especially volatile <a href="https://www.benzinga.com/news/global/25/03/44176918/trump-delays-mexico-tariffs-for-a-month-economic-uncertainty-persits">start to 2025</a>, small-cap stocks have struggled. Are they now a buy at depressed valuations?



Russell 2000: The Russell 2000, as reflected by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), has dropped nearly 15% since December 2024. This constitutes a market correction.



The Trump Administration has embraced domestic and foreign policies that Former Treasury Secretary&nbsp;Larry Summers&nbsp;<a href="https://www.benzinga.com/markets/equities/25/02/43649860/larry-summers-and-peter-schiff-warn-of-rising-inflation-risks-as-markets-slash-fed-rate-cut-expectations-most-sensitive-moment">labels as inflationary</a>. Higher prices could lead to higher interest rates, which disproportionately affect smaller companies with floating-rate debt.



The Russell index <a href="https://research.ftserussell.com/Analytics/FactSheets/Home/DownloadSingleIssue?issueName=US2000USD&amp;isManual=True">contains</a> 2,000 companies with an average market cap of around $1 billion. Higher-weighted components are likely to have outperformed the rest of the index and are not necessarily representative of the entire Russell 2000. Still, they provide a glimpse into how investors are valuing small-cap companies.



Here&#8217;s how the top stocks in the IWM have performed since the ETF&#8217;s correction began in December 2024:



Sprouts Farmers Market, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFM#NASDAQ">SFM</a>)



<ul>
<li>Dec. 2, 2024, Price: $150.92​</li>



<li>March 6, 2025, Price: $138.11​</li>



<li>Percentage Change: -8.49%</li>
</ul>



Insmed Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INSM#NASDAQ">INSM</a>)



<ul>
<li>Dec. 2, 2024, Price: $72.42​</li>



<li>March 6, 2025, Price: $75.02​</li>



<li>Percentage Change: +3.59%​</li>
</ul>



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



<ul>
<li>Dec. 2, 2024, Price: $91.60​</li>



<li>March 6, 2025, Price: $74.81</li>



<li>Percentage Change: -18.33%​</li>
</ul>



SouthState Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SSB#NASDAQ">SSB</a>)



<ul>
<li>Dec. 2, 2024, Price: $109.35</li>



<li>March 6, 2025, Price: $92.37</li>



<li>Percentage Change: -15.53%​</li>
</ul>



FTAI Aviation Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTAI#NASDAQ">FTAI</a>)



<ul>
<li>Dec. 2, 2024, Price: $166.8​</li>



<li>March 6, 2025, Price: $108.2​8</li>



<li>Percentage Change: -35.08%​</li>
</ul>



Rocket Lab USA, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>)



<ul>
<li>Dec. 2, 2024, Price: $24.16</li>



<li>March 6, 2025, Price: $18.66</li>



<li>Percentage Change: -22.76%​</li>
</ul>



Applied Industrial Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIT#NYSE">AIT</a>)



<ul>
<li>Dec. 2, 2024, Price: $272.91</li>



<li>March 6, 2025, Price: $229.00</li>



<li>Percentage Change: -16.09%​</li>
</ul>



Credo Technology Group Holding Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRDO#NASDAQ">CRDO</a>)



<ul>
<li>Dec. 2, 2024, Price: $47.80​</li>



<li>March 6, 2025, Price: $42.07</li>



<li>Percentage Change: -11.99%​</li>
</ul>



Ufp Industries Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UFPI#NASDAQ">UFPI</a>) and&nbsp;Fluor Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLR#NYSE">FLR</a>) are also among the ETF&#8217;s top holdings.



Benzinga Edge evaluates stocks on a valuation, momentum and growth basis.



UFP, a holding company based in Grand Rapids, Michigan, performs well under the value criterion, scoring 78.64 out of 100. However, the stock does not have momentum, scoring 32.82. It is also not the fastest-growing company, grading 33.35. The stock is down 20.5% since Dec. 2, 2024.



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/UFPI"><img loading="lazy" decoding="async" width="1024" height="229" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/06150724/Screenshot-2025-03-06-at-3.07.19-PM-1024x229.png" alt="" class="wp-image-812940" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/06150724/Screenshot-2025-03-06-at-3.07.19-PM-1024x229.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/06150724/Screenshot-2025-03-06-at-3.07.19-PM-300x67.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/06150724/Screenshot-2025-03-06-at-3.07.19-PM-768x172.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/06150724/Screenshot-2025-03-06-at-3.07.19-PM.png 1314w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



Fluor, an engineering and construction firm, rates high according to its intrinsic value, scoring at 93.6. Still, recent price action indicates its growth and momentum prospects are not high, scoring 15.32 and 29.26, respectively. The stock is down 33.6% since Dec. 2, 2024.



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/FLR"><img loading="lazy" decoding="async" width="1024" height="232" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/06150443/Screenshot-2025-03-06-at-3.04.39-PM-1024x232.png" alt="" class="wp-image-812935" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/06150443/Screenshot-2025-03-06-at-3.04.39-PM-1024x232.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/06150443/Screenshot-2025-03-06-at-3.04.39-PM-300x68.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/06150443/Screenshot-2025-03-06-at-3.04.39-PM-768x174.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/06150443/Screenshot-2025-03-06-at-3.04.39-PM.png 1322w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<ul>
<li>Unlock the rest of the BZ Edge Rankings and see how <a href="https://www.benzinga.com/quote/fn">another small-cap stock stacks up</a>.</li>
</ul>



S&amp;P 500 Comparison: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks 500 of the largest U.S. companies, has fared slightly better than the Russell 2000. The index is down around 2% since Dec. 2, 2024.



On an earnings basis, investors are trading the S&amp;P 500 at a much higher multiple than the Russell 2000. The S&amp;P as a whole is trading 21.63 times above earnings compared to the small-cap index&#8217;s 14.84 times. 



Also Read:



<ul>
<li><a href="https://www.benzinga.com/trading-ideas/movers/25/03/44174230/short-seller-targets-gorilla-technology-group-stock-investors-take-profits">Short Seller Targets Gorilla Technology Group Stock, Investors Take Profits</a></li>
</ul>



Image created using artificial intelligence via Midjourney.

Trading Ideas

CRDO

FTAI

INSM

PCVX

RKLB

UFPI

Are Small-Cap Stocks A Buy After Russell 2000 Correction?

U.S. stock futures rose on Friday following Thursday&#8217;s selloff that pushed the Nasdaq 100 index into the correction zone. Futures of all four benchmark indices rose in premarket trading.



President Donald Trump&#8216;s administration postponed implementation of certain USMCA goods that are imported from Mexico and Canada on Thursday after a 25% levy was implemented on Tuesday.



Investors await the U.S. jobs report, unemployment rate and hourly wages data for February, slated to be released today.



Meanwhile, the 10-year Treasury yield stood at 4.26%, while the two-year yield was at 3.95%. According to the CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>, there is a 91% chance that the Federal Reserve will keep interest rates unchanged for the March meeting.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Nasdaq 100</td><td>0.48%</td></tr><tr><td>S&amp;P 500</td><td>0.30%</td></tr><tr><td>Dow Jones</td><td>0.15%</td></tr><tr><td>Russell 2000</td><td>0.19%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose in premarket on Friday. SPY gained 0.33% to $574.58, and QQQ was up 0.48% to $490.55, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From The Last Session



Real estate, information technology, and consumer discretionary sectors experienced the most significant losses on Thursday, contributing to the overall market decline. Conversely, energy stocks bucked the trend, closing higher amidst the widespread downturn.



On the economic front, the U.S. reported a record trade deficit of $131.4 billion in January, compared to a revised $98.1 billion gap in the previous month. Unit labor costs in the nonfarm business sector rose 2.2% in the fourth quarter, compared to preliminary expectations of 3%.



Initial jobless claims declined by 21,000 from the previous week to 221,000 during the last week of February, compared to market estimates of 235,000.



Kroger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) reported better-than-expected earnings for its fourth quarter.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>-2.61%</td><td>18,069.26</td></tr><tr><td>S&amp;P 500</td><td>-1.78%</td><td>5,738.52</td></tr><tr><td>Dow Jones</td><td>-0.99%</td><td>42,579.08 </td></tr><tr><td>Russell 2000</td><td>-1.63%</td><td>2,066.55</td></tr></tbody></table></figure>



Insights From Analysts



While markets have reacted negatively to recent tariff announcements, this suspension could set the stage for a potential market recovery in the medium term, explained Subho Moulik, the founder and CEO of the fintech platform Appreciate.



&#8220;Despite legitimate concerns about inflation and trade uncertainty, U.S. economic fundamentals remain solid with unemployment edging down to 4% and GDP growth still in the positive territory. This economic resilience provides a foundation for market stabilization,&#8221; Moulik added.



According to him, market volatility may persist in the short term, but history demonstrates that strategic navigation of policy-induced corrections can lead to outperformance for investors who maintain discipline and a long-term perspective.



The Nasdaq 100 entered correction territory on Thursday, falling 9.76% from its record high to 20,052.64, and breaking below its 200-day moving average for the first time in nearly two years.



Analyst Jason Goepfert of White Oak Consultancy LLC warned in an X post that a further 3.5% decline within the next two weeks would signal a bear market.



Historically, when the index has broken its 200-day average after a prolonged uptrend and subsequently dropped at least 3.5% within two weeks, a bear market has followed. Conversely, if the index avoids a 3.5% drawdown in the next two weeks, historical data suggests positive one-year returns.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The Nasdaq 100 <a href="https://twitter.com/search?q=%24QQQ&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$QQQ</a> closed below its 200-day average for the first time in over a year. Watch the next 2 weeks. Every time it lost its 200-day after an extended run and suffered at least a -3.5% drawdown within the next 2 weeks, it led to a bear market. When the 2-week… <a href="https://t.co/m4zOyP86da">pic.twitter.com/m4zOyP86da</a>&mdash; Jason Goepfert (@jasongoepfert) <a href="https://twitter.com/jasongoepfert/status/1897754090748186951?ref_src=twsrc%5Etfw">March 6, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



According to Charlie Bilello, the chief market strategist at Creative Planning, the 497 trading sessions for which the Nasdaq 100 index was above its 200-day moving average, was the second longest streak in its history, returning 73% to investors.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The Nasdaq 100 Index gained 73% during this historic uptrend&#8230; <a href="https://t.co/B8gvLWF30V">pic.twitter.com/B8gvLWF30V</a>&mdash; Charlie Bilello (@charliebilello) <a href="https://twitter.com/charliebilello/status/1897767711901368334?ref_src=twsrc%5Etfw">March 6, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Ryan Detrick of Carson Research highlighted historical data and said that the market has peaks in mid-February and hits lows in the second week of March over the last 20 years.



<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">Over the past 20 years, peaks in mid-February and lows in the second week of March are common. Could it really happen again? <a href="https://t.co/42eJLQeIIW">pic.twitter.com/42eJLQeIIW</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1897782202370572689?ref_src=twsrc%5Etfw">March 6, 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/money/how-to-trade-futures"> How to Trade Futures </a>



Upcoming Economic Data



Here&#8217;s what investors will keep on Friday:



<ul>
<li>February&#8217;s U.S. jobs report, unemployment rate and hourly wages data will be out by 8:30 a.m., ET.</li>
</ul>



<ul>
<li>Fed Governor Michelle Bowman will speak at 10:15 a.m., New York Fed President John Williams will speak again at 10:45 a.m., Fed Governor Adriana Kugler will speak at 12:20 p.m., and Fed Chairman Jerome Powell will speak at 12:30 p.m., ET.</li>
</ul>



<ul>
<li>January&#8217;s consumer credit data will be announced at 3:00 p.m., ET.</li>
</ul>



Stocks In Focus:



<ul>
<li>Algonquin Power &amp; Utilities Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AQN#NYSE">AQN</a>) was up 1.21% in the premarket on Friday ahead of its earnings, which will be released before the opening bell. Analysts expect it to report earnings of 8 cents per share on revenue of $607.00 million.</li>
</ul>



<ul>
<li>Genesco Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCO#NYSE">GCO</a>) slipped 0.15% as Wall Street expects it to report quarterly earnings of $3.31 per share on revenue of $784.85 million before the opening bell.</li>
</ul>



<ul>
<li>Advantage Solutions Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADV#NASDAQ">ADV</a>) gained 5.51% ahead of its earnings, which will be released before the opening bell. Analysts expect it to report earnings of 12 cents per share on revenue of $863.41 million.</li>
</ul>



<ul>
<li>Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) jumped 12.84% after reporting better-than-expected first-quarter financial results. The company said it expects second-quarter revenue of approximately $14.9 billion, versus estimates of $14.76 billion.</li>
</ul>



<ul>
<li>JD.Com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) fell 1.98% despite better-than-expected earnings as management did not clarify on the scale and profitability of its new food delivery business JD Takeaway.</li>
</ul>



<ul>
<li>Costco Wholesale Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>) dropped 1.42% after it reported mixed second quarter earnings but the management said that they were &#8220;well equipped&#8221; to mitigate tariffs.</li>
</ul>



<ul>
<li>Plus Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSTV#NASDAQ">PSTV</a>) surged 58.33% as it received Orphan Drug Designation from the FDA for its drug Rhenium Obisbemeda which is used to treat leptomeningeal metastases in lung cancer patients.</li>
</ul>



<ul>
<li>authID Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AUID#NASDAQ">AUID</a>) climbed 5.97% after it released a whitepaper, &#8220;Deepfake Countermeasures,&#8221; detailing their deepfake detection system, which boasts billion-to-one accuracy and 35-millisecond matching.</li>
</ul>



<ul>
<li>Cross Country Healthcare, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCRN#NASDAQ">CCRN</a>) plunged 42.97% as it missed fourth quarter estimates and Federal Trade Commission&#8217;s review of its $615 million sale to Aya Healthcare discovered some &#8220;troubling documents&#8221;.</li>
</ul>



<ul>
<li>Hewlett Packard Enterprise Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) plummeted 20.49% on earnings miss and weak revenue outlook amid job cut announcement.</li>
</ul>



Commodities, Gold And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 1.25% to hover around $67.19 per barrel.



The gold spot index was up by 0.24% to $2,918.13 per ounce. Its last record high was at $2,956.37 per ounce. The Dollar Index was down 0.44% at the 103.609 level.



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



Read Next:



<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/03/44185877/costco-ceo-says-it-is-well-equipped-to-mitigate-trumps-tariffs-but-warns-of-inflation-impact-on-consumers-when-it-rains-it-rains-on-everyone">Costco CEO Says It Is &#8216;Well Equipped&#8217; To Mitigate Trump&#8217;s Tariffs, But Warns Of Inflation Impact On Consumers: &#8216;When It Rains, It Rains On Everyone&#8217;</a></li>
</ul>



Photo courtesy: Shutterstock

Earnings

Futures

Pre-Market Outlook

AUID

CCRN

PSTV

US Stocks Likely To Open Higher After Nasdaq 100 Enters Correction Zone: 'Economic Resilience Provides A Foundation For Market Stabilization,' Says Expert

Shares of Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) climbed 12.7% during the pre-market trading session on Friday following the company&#8217;s first quarter earnings and revenue beat.



What Happened: Broadcom, a leading semiconductor company, reported first quarter revenue of $14.92 billion, surpassing the forecasted $14.61 billion on Thursday. The company&#8217;s adjusted earnings stood at $1.60 per share, exceeding the anticipated $1.49 per share.



The company&#8217;s total revenue saw a 25% year-over-year increase, led by a robust performance in AI semiconductor solutions and infrastructure software. Broadcom reported $6.11 billion in cash flow from operations and $6.01 billion in free cash flow for the quarter, concluding with approximately $9.31 billion in cash and cash equivalents.



First quarter AI revenue for the company grew 77% year-over-year to $4.1 billion and infrastructure software revenue grew 47% year-over-year to $6.7 billion.



SEE ALSO: <a href="https://www.benzinga.com/general/market-summary/25/03/44160046/marvell-surpasses-ai-chip-sales-target-aims-higher-for-2026-but-stock-plunges-due-to-muted-guidance">Marvell Surpasses AI Chip Sales Target, Aims Higher For 2026, But Stock Plunges Due To Muted Guidance</a>



Why It Matters: These results come amid speculation around a potential merger and acquisition with Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>). However, CEO Hock Tan <a href="https://www.benzinga.com/markets/25/03/44184829/broadcom-ceo-hock-tan-brushes-off-intel-acquisition-speculation-ma-no-im-too-busy">dismissed these rumors </a>during the company&#8217;s first-quarter earnings call. This week, reports indicated that Nvidia (NVDA) and Broadcom are <a href="https://www.benzinga.com/25/03/44087877/intel-stock-surges-as-nvidia-broadcom-test-18a-chips-amd-shows-interest" target="_blank" rel="noreferrer noopener">running manufacturing tests</a> with Intel&#8216;s 18A process



The company expects continued growth in AI semiconductor revenue of $4.4 billion in the second quarter, led by ongoing investment in AI XPUs and custom solutions for AI data centers by hyperscale partners. Meanwhile, Broadcom&#8217;s board has also authorized a quarterly cash dividend of 59 cents per share, which will be paid on March 31 to shareholders recorded as of March 20.



Kinngai Chan, analyst at Summit Insights stated, &#8220;Broadcom is much better positioned compared to its peers as its exposure in AI market is relatively more diversified with multiple AI ASIC customers,&#8221; reported Reuters. Meanwhile, The Future Fund LLC Managing Partner Gary Black highlighted Broadcom's strong performance, stating that it should help AI stocks the next day.



Broadcom&#8217;s stock dropped 6.33% to close at $179.45 on Thursday. However, it recovered in after-hours trading, surging by 12.82%. So far this year, the stock has dropped 22.64%, as per <a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.



<ul>
<li>Read More: <a href="https://www.benzinga.com/markets/equities/25/03/44185847/gary-black-says-walgreens-is-a-company-that-shouldnt-be-public-cites-largest-shareholders-role-in-10-billion-sycamore-deal">Gary Black Says Walgreens Is A Company That &#8216;Shouldn&#8217;t Be Public,&#8217; Cites Largest Shareholder&#8217;s Role In $10 Billion Sycamore Deal</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.

INTC

NVDA

Broadcom Stock Surges Nearly 13% In Friday Pre-Market: What's Going On?

Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) shares jumped 12.82% in after-hours trading Thursday after reporting better-than-expected first-quarter results, recovering from a 6.33% drop during regular trading hours amid a broader artificial intelligence chip selloff.



What Happened: The semiconductor giant posted first-quarter revenue of $14.92 billion, surpassing analyst estimates of $14.61 billion, along with adjusted earnings of $1.60 per share, exceeding the expected $1.49 per share, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.



The Future Fund LLC Managing Partner Gary Black highlighted Broadcom&#8217;s strong performance stating, &#8220;This should help AI stocks tomorrow.&#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"><a href="https://twitter.com/search?q=%24AVGO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AVGO</a>: After falling -6.3% today on rival <a href="https://twitter.com/search?q=%24MRVL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MRVL</a> ‘s weak 1Q rev guidance, AVGO beat on 4Q results (Rev $14.9B vs $14.6B est; EPS $1.60 vs $1.50 est) and offered strong 1Q rev guidance ($14.9B vs $14.6B est) fueled by strong AI spending ($4.4B vs $4.2B est). This should help AI…&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1897769857854140838?ref_src=twsrc%5Etfw">March 6, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



CNBC&#8217;s Jim Cramer shared a similar sentiment, writing, &#8220;Whoever is walking down Broadcom right now I think is making a mistake.&#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">Whoever is walking down Broadcom right now i think is making a mistake&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1897791563738104078?ref_src=twsrc%5Etfw">March 6, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The company expects continued AI momentum, projecting second-quarter AI semiconductor revenue of $4.4 billion as &#8220;hyperscale partners continue to invest in AI XPUs and connectivity solutions for AI data centers.&#8221; Overall second-quarter revenue guidance stands at approximately $14.9 billion, above <a href="https://www.benzinga.com/news/earnings/25/03/44181200/broadcom-stock-surges-on-q1-earnings-beat-revenue-beat-strong-guidance-we-expect-continued-strength-in-ai-semiconductor-revenue">analyst estimates of $14.76 billion</a>.



See Also: <a href="https://www.benzinga.com/general/space/25/03/44159724/jeff-bezos-brings-amazons-hard-charging-culture-50-hour-workweek-to-blue-origin-ceo-says-growth-led-to-more-bureaucracy-less-focus" target="_blank" rel="noreferrer noopener">Jeff Bezos Brings Amazon's Hard-Charging Culture, 50-Hour Workweek To Blue Origin: CEO Says Growth Led To ‘More Bureaucracy…Less Focus'</a>



Why It Matters: The selloff in <a href="https://www.benzinga.com/government/regulations/25/03/44174628/ai-chip-leaders-nvidia-amd-broadcom-slide-amid-marvell-earnings-and-us-policy-concerns">AI chip stocks on Thursday included</a> Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), and Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), which fell in sympathy with Marvell Technology Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) weaker guidance.



Broadcom has a <a href="https://www.benzinga.com/quote/AVGO/analyst-ratings">consensus price target</a> of $537.08 based on 26 analyst ratings, with recent targets from Morgan Stanley, Barclays, and Mizuho averaging $255.33.



<figure class="wp-block-image aligncenter size-full is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/06205602/Screenshot-2025-03-07-at-7.25.11%E2%80%AFAM.png" alt="" class="wp-image-813232" style="width:609px;height:auto"/></figure>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/personal-finance/25/03/44065932/mark-cuban-was-asked-how-hed-invest-100k-his-answer-buy-bulk-toothpaste-and-soup-for-the-best-guaranteed-return-on-investment" target="_blank" rel="noreferrer noopener">Mark Cuban Was Asked How He&#8217;d Invest $100K — His Answer? Buy Bulk Toothpaste And Soup For The ‘Best Guaranteed Return On Investment&#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.

MRVL

Broadcom Shares Jump 13% In After-Hours Trading On Strong AI Results — Gary Black Says, 'This Should Help AI Stocks Tomorrow

Leading cryptocurrencies slipped on Thursday as President Donald Trump's executive order to create a strategic Bitcoin reserve became a "sell-the-news" event.



<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 8:15 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>-4.32%</td><td>$86,345.56</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>-4.99%</td><td>$2,124.96</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-5.23%</td><td>$0.1920</td></tr></tbody></table></figure>



What Happened: The leading cryptocurrency dropped from $90,000 to $84,979 in 40 minutes after the news became public before recovering to $86,000 as traders bought the dip.&nbsp;



Ethereum, the second-largest cryptocurrency, also dipped to $2,100 following an intraday high of $2,319.40.



The fall came after Trump <a href="https://www.benzinga.com/25/03/44183572/trump-establishes-strategic-bitcoin-reserve-funded-by-forfeited-assets-i-made-the-promise">signed an executive order</a> establishing a Bitcoin reserve and a digital asset stockpile of other cryptocurrencies, both funded by forfeited assets held by the U.S. government. While the government may acquire additional Bitcoin, no extra purchases for the digital stockpile will be made.



About $537 million was liquidated from the cryptocurrency market in the last 24 hours, including $111 million in the last hour alone.



Bitcoin's Open Interest fell 2.58% in the last 24 hours, while the percentage of traders positioned short on the apex cryptocurrency increased to 51%.



Meanwhile, the Crypto Fear and Greed Index improved from "Extreme Fear" to "Fear" as of this writing.



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 8:15 p.m. ET)</td></tr><tr><td>Cronos (CRO)</td><td>+6.18%</td><td>$0.0853</td></tr><tr><td>Movement (MOVE)</td><td>+5.60%</td><td>$0.4701</td></tr><tr><td>Ethene (ENA)</td><td>+3.07%</td><td>$0.3619</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $2.82 trillion, following a decrease of 4.55% in the last 24 hours.



Following a brief reprieve, stocks resumed their correction on Thursday. The Dow Jones Industrial Average dipped 427.51 points, or 0.99%, to close at 42,579.08. The S&amp;P 500 slipped 1.78%, ending at 5,738.52, while the tech-heavy Nasdaq Composite tumbled 2.61% to close the session at 18,069.26.



The selling came despite Trump <a href="https://www.benzinga.com/news/global/25/03/44176918/trump-delays-mexico-tariffs-for-a-month-economic-uncertainty-persits">postponing the enforcement of</a> a 25% tariff on most Mexico imports for a month. The administration's trade measures and retaliatory action by key partners have rattled markets over the last month.



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



Analyst Notes: Bitcoin's long-term holders have taken advantage of the ongoing correction to fill their bags, according to widely followed cryptocurrency analyst, Ali Martinez.



"Long-term holders are accumulating! The supply held by long-term holders has increased by 85,000 BTC in the past month," Martinez 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">Long-term holders are accumulating! The supply held by long-term holders has increased by 85,000 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> in the past month. <a href="https://t.co/udy0Aqg6BW">pic.twitter.com/udy0Aqg6BW</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1897757076585116008?ref_src=twsrc%5Etfw">March 6, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



As for Ethereum, Martinez highlighted the significance of $2,200.



"As long as ETH stays above $2,200, the odds of a rebound increase, especially with the TD Sequential flashing a buy signal on the weekly chart," he remarked.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">As long as <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> stays above $2,200, the odds of a rebound increase, especially with the TD Sequential flashing a buy signal on the weekly chart in the form of an A13! <a href="https://t.co/UmowxKOV9R">pic.twitter.com/UmowxKOV9R</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1897744745155477553?ref_src=twsrc%5Etfw">March 6, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Well-known blockchain analytics firm CryptoQuant noted that stablecoin reserves on cryptocurrency exchange Binance have hit a new high.



"Historically, periods of rising stablecoin reserves on Binance have often coincided with, or even preceded, an increase in BTC prices and a broader upswing in the crypto market," the firm stated.



<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">Binance&#39;s stablecoin reserves hit a new ATH "When we observe an increase in stablecoin reserves on Binance—currently the exchange with the highest trading volumes—it indicates a positive momentum." – By <a href="https://twitter.com/Darkfost_Coc?ref_src=twsrc%5Etfw">@Darkfost_Coc</a> Dive deeper &#x2935;&#xFE0F;<a href="https://t.co/zZoVVjXBOg">https://t.co/zZoVVjXBOg</a> <a href="https://t.co/wfwUZQtAVR">pic.twitter.com/wfwUZQtAVR</a>&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1897765406040821779?ref_src=twsrc%5Etfw">March 6, 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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