While <a href="https://www.benzinga.com/topic/tariffs">tariff chatter dominates</a> headlines, JPMorgan analyst Bill Peterson sees bigger implications for steel stocks beyond the political drama. 



His latest analysis highlights key players poised to benefit from higher pricing and shifting trade flows, setting up significant upside potential.



<h2 class="wp-block-heading">The Winners: Nucor, US Steel And Steel Dynamics</h2>



Nucor Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) remains Peterson's top pick, rated Overweight. Its product diversification gives it a structural advantage, helping to weather market volatility even as rate and trade policy uncertainty clouds the steel outlook.



The company is prioritizing profitability over volume, a strategy Peterson believes warrants a multiple expansion for both Nucor and the broader sector.



U.S. Steel Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) also holds an Overweight rating. The key catalyst? Peterson views the stalled NSC deal as unlikely to go through, leaving U.S. Steel to stand alone with strong valuation support.



Easing capex requirements and a likely free cash flow inflection in 2025 could pave the way for share buybacks, while new growth projects add further upside.



Read Also: <a href="https://www.benzinga.com/25/02/43606220/united-states-steel-shares-are-up-today-whats-going-on">United States Steel Shares Are Up Today: What&#8217;s Going On?</a>



Steel Dynamics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) lands a Neutral rating. The company's aluminum rolling mill (ADI) project could create long-term value, but Peterson sees a longer runway to meaningful impact.



Near-term, risks include potential pricing pressure on its Steel Fabrication segment and UBC spreads affecting ADI margins.



<h2 class="wp-block-heading">How Tariffs Fit In</h2>



The latest round of Section 232 tariffs—signed into action Monday evening—has already fueled a rally in steel stocks. While the broader market saw modest gains, steel stocks jumped 5% to 17% in anticipation of higher pricing. The HRC forward curve is already up ~10% since pre-election levels, and industry participants at the Tampa Steel Conference see a potential price range of $850-$900 per ton, with peaks near $1,000 per ton.



The biggest winners in a sustained high-price environment? 



Peterson sees stocks with high spot exposure—particularly U.S. Steel and Cleveland-Cliffs Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>)—benefiting first. However, Nucor remains his long-term favorite, given its earnings stability in both strong and weak pricing environments.



<h2 class="wp-block-heading">Looking Ahead</h2>



The near-term setup is clear: higher steel prices, a favorable demand-supply dynamic, and strategic positioning give steel stocks room to run.



But the longer-term picture is less certain, with potential shifts in exemptions and demand-side risks looming. For now, though, Peterson's bullish stance suggests steel stocks remain well-positioned.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/02/43603930/tech-stocks-surge-steelmakers-jump-on-trumps-25-tariffs-copper-hits-9-month-highs-whats-driving-markets-monday">Tech Stocks Surge, Steelmakers Jump On Trump&#8217;s 25% Tariffs, Copper Hits 9-Month Highs: What&#8217;s Driving Markets Monday?</a></li>
</ul>



Photo: Vladimir Mulder/Shutterstock.com.

Analyst Color

Long Ideas

Commodities

Markets

Analyst Ratings

Trading Ideas

STLD

Tariffs Drive Steel Stock Gains As Analyst Highlights Catalysts For Nucor, US Steel

Editor&#8217;s note: This story has been updated with additional details. 



Federal Reserve Chair Jerome Powell reiterated on Tuesday that policymakers are in no "hurry" to adjust interest rates, citing lingering inflation pressures despite significant progress toward the<a href="https://www.benzinga.com/news/econ-s"> Fed's 2% inflation goal.</a>



Speaking before the Senate Banking Committee in Washington, Powell described the economic landscape as one where "the economy is strong overall." with a labor market that has cooled from its overheated state but remains resilient.



Over the past four months, payroll job gains averaged 189,000 per month, while the unemployment rate held steady at 4% in January. Powell indicated that "the labor market is not a source of significant inflationary pressures."



On inflation, Powell highlighted a notable decline over the past two years but stressed that "inflation remains somewhat elevated."



The latest Personal Consumption Expenditures price index showed a 2.6% year-over-year increase as of December, with core PCE rising 2.8%, excluding volatile food and energy costs. 



<h3 class="wp-block-heading">Powell Stresses Caution In Interest Rate Policy</h3>



Since September, the Federal Open Market Committee has lowered the policy rate by a full percentage point from its peak. 



Powell described this shift as "appropriate in light of the progress on inflation and the cooling in the labor market."



Despite these moves, Powell reiterated that "we do not need to be in a hurry to adjust our policy stance." 



He stated that reducing interest rates &#8220;too fast or too much&#8221; could derail progress on inflation, while moving too slowly or too little "could unduly weaken economic activity and employment."



Going forward, the Fed will continue to remain data dependent, before making further policy adjustments.



<h3 class="wp-block-heading">Powell Pushes Back Recession Concerns, Refrains From Tariff Judgement</h3>



During the Q&amp;A session, Powell pushed back against recession risks and reiterated the broader strength of the economy. 



Sen. John Kennedy (R-LA) questioned the Fed's influence over long-term bond yields, to which Powell responded, "We have some influence, but mostly not." 



The Fed Chair indicated that long-term rates are driven by future short-term rate expectations, inflation risks, and the budget deficit—factors beyond the Fed's direct control. 



When asked if a president could remove a Federal Reserve Board member, Powell said, "It's not allowed under the law."



Sen. Bill Hagerty (R-TN) asked Powell if the neutral rate — the point where interest rates neither boost nor slow the economy — has risen.



&#8220;The neutral rate will have risen meaningfully," Powell said.



The chairman highlighted that concerns over labor market weakness and inflation have faded. Powell said that many of his colleagues also believe the neutral rate has moved higher, a shift from its historically low pre-pandemic levels.



On trade policy, Sen. Jack Reed (D-RI) referenced Powell's 2018 statement that "countries that have remained open to trade, that have not erected barriers, including tariffs, have grown faster and achieved higher incomes." 



Powell stood by that view but refrained from commenting on specific trade policies, including President Donald Trump's tariffs on China, Canada, and Mexico. 



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/02/43627524/economists-betting-markets-predict-benign-january-inflation-what-could-go-wrong-this-time">Economists, Betting Markets Predict Benign January Inflation: What Could Go Wrong This Time?</a></li>
</ul>

Macro Economic Events

Econ #s

Economics

Federal Reserve

Fed's Powell Reiterates No 'Hurry' To Cut Interest Rates As Inflation Remains 'Somewhat Elevated' (UPDATED)

Ride-hailing company Lyft Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>) could highlight more progress on autonomous vehicles when the company reports fourth-quarter financial results<a href="https://www.benzinga.com/earnings"> after market close Tuesday.</a>



Earnings Estimates: Analysts expect Lyft to report fourth-quarter revenue of $1.56 billion. That&#8217;s up from $1.23 billion in last year's fourth quarter, according to data<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent021125&amp;t=be2bearmibe3na1"> from Benzinga Pro.</a>



The company has beaten analyst revenue estimates in eight straight quarters and nine of the last 10 quarters overall.



Analysts expect Lyft to report fourth-quarter earnings per share of 22 cents, up from 18 cents in last year's fourth quarter. The company has beaten analyst estimates for earnings per share in seven straight quarters and nine of the last 10 quarters overall.



Read Also: <a href="https://www.benzinga.com/25/01/42859391/uber-and-lyft-adapt-robotaxi-strategy-to-compete-in-tesla-and-waymos-market">Uber and Lyft Adapt Robotaxi Strategy to Compete in Tesla and Waymo&#8217;s Space</a>



What Analysts Are Saying: Bank of America analyst Michael McGovern<a href="https://www.benzinga.com/trading-ideas/movers/25/01/43314361/lyft-faces-growing-competition-bank-of-america-analyst-warns"> reiterated a Buy rating</a> on Lyft. He also lowered the price target from $21 to $19 in a recent note.



The analyst highlighted the appointment of Sean Duffy as Transportation Secretary, Waymo's testing in Los Angeles and Uber's new price lock feature as three notable catalysts for the company.



McGovern said Waymo's testing could be viewed as a threat to Lyft with autonomous ride services competing for customers.



Uber's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) $2.99 price lock pass allowing customers to secure pricing ahead of time for a one-hour window daily could increase competition with Lyft if the service is rolled out fully. Lyft has a similar price lock feature that has been successful.  



While those items are potential negatives for Lyft, Duffy&#8217;s confirmation oas Transportation Secretary could be a positive for the company. Duffy has been a proponent of federal regulation for autonomous vehicles, instead of leaving decisions up to states.



Here are other recent<a href="https://www.benzinga.com/quote/LYFT/analyst-ratings"> analyst ratings for Lyft</a> and their price targets:



<ul>
<li>UBS: Maintained Neutral rating, lowered price target from $18 to $16</li>



<li>Bank of America: Maintained Buy rating, lowered price target from $21 to $19</li>



<li>Wells Fargo: Maintained Equal-Weight rating, lowered price target from $17 to $14</li>



<li>Wedbush: Maintained Neutral rating, lowered price target from $20 to $18</li>



<li>Benchmark: Upgraded from Hold to Buy, with $20 price target</li>
</ul>



Key Items to Watch: Lyft's earnings report comes after the recent news the company could launch robotaxis as soon as 2026. Lyft <a href="https://www.benzinga.com/trading-ideas/movers/25/02/43596967/lyft-stock-is-moving-higher-monday-heres-why">is collaborating with</a> Mobileye Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) on launching a fully autonomous robotaxi service to its app.



The vehicles are expected to be tested in Dallas soon with more markets coming in the following months.



Lyft will likely share more details on its robotaxis. It may also face questions from analysts on the upcoming launch, timetable and various partnerships.



The ride-share company also recently announced <a href="https://www.benzinga.com/25/02/43536368/whats-going-on-with-ride-hailing-company-lyfts-stocks-today">a strategic alliance </a>with AI company Anthropic to create AI-powered solutions to help customers.



Lyft is using Anthropic's AI model Claude for its customer service operations already and has witnessed an 87% cut in the average resolution time.



"Lyft is using Claude to both reimagine the future of ridesharing, and at the same time deliver tangible benefits to their community today," Anthropic Vice President of Product Management Michael Gerstenhaber said.



There could be high expectations for Lyft's fourth quarter after the company's most recent <a href="https://www.benzinga.com/news/earnings/24/11/41789162/lyft-stock-drives-higher-after-better-than-expected-q3-results">third quarter </a>included record active riders, record riders and revenue and earnings per share beat analyst estimates.



The company called the results "one of the strongest quarters in Lyft history."



Lyft's earnings report comes less than a week after Uber reported <a href="https://www.benzinga.com/news/earnings/25/02/43495476/uber-q4-earnings-revenue-beat-growth-in-rides-delivery-and-autonomous-tech-ceo-calls-it-strongest-quarter">fourth-quarter financial results</a>. Uber beat analyst estimates for revenue and earnings per share. The company saw double-digit growth for gross bookings, deliveries, trips and monthly active platform consumers.



Uber's strong quarterly report could put increased pressure on Lyft to beat estimates and show double-digit growth in several areas along with positive commentary on robotaxis.



Price Action: Lyft stock is up 1.2% to $15.30 on Tuesday versus a 52-week range of $8.92 to $20.82. Lyft stock is up 10.8% year-to-date and up 21.9% over the past year.



Uber stock trades at $78.30 versus a 52-week trading range of $54.84 to $87.00. Uber stock is up 24.5% year-to-date and up 13.8% over the past year.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/24/11/42015996/tesla-to-partner-with-lyft-uber-analyst-says-rising-conviction-for-partnership-in-future">Tesla To Partner With Lyft, Uber? Analyst Has &#8216;Rising Conviction&#8217; For Future Partnership</a></li>
</ul>



Image: Shutterstock

Previews

LYFT

MBLY

UBER

Lyft Q4 Earnings Preview: Streak Of Revenue, EPS Beats On The Line After Rival Uber's Strong Fourth Quarter

Winter weather is moving into nearly every part of the country this week and threatens to bring several different weather hazards depending on location. An atmospheric river is taking aim at fire-scarred areas of Southern California, while the MidAtlantic and Northeast regions brace for <a href="https://www.benzinga.com/25/02/43544471/winter-storm">more snow and ice.&nbsp;</a>



MidAtlantic Snow: The first major weather event of this busy week will strike the MidAtlantic region on Tuesday with snow and ice spreading through the Washington D.C., Philadelphia and New York City metro areas.&nbsp;



Read Next: <a href="https://www.benzinga.com/news/earnings/25/02/43600652/super-micro-computer-q2-earnings-preview-accounting-updates-nasdaq-deadline-on-watch">Super Micro Computer Q2 Earnings Preview: Accounting Updates, Nasdaq Deadline On Watch&nbsp;</a>



AccuWeather meteorologists warn that the <a href="https://www.accuweather.com/en/winter-weather/early-week-winter-storm-to-dump-snow-from-dc-to-philly-nyc/1743253">storm</a> will trigger plowing operations and deicing activity at airports in an area covering approximately 200,000 square miles. 



Travelers should prepare for delays and disruptions. Two of the largest airlines serving the Washington D.C. and Philadelphia airports are American Airlines Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) and Delta Air Lines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>).&nbsp;



Northeast Snow: A second snow and ice storm will follow quickly on the heels of the MidAtlantic snow, arriving on Wednesday night with snow forecast for New England and rain further south. Snow will change to sleet and freezing rain during the day on Thursday and come to an end on Thursday night. 



Grocery and home improvement stores may see increased traffic as people stock up on food and essentials before the storm. Retailers like Walmart, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) and Home Depot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) could see a boost in revenue from storm-related sales.&nbsp;



California Rain: An atmospheric river is lining up and will hit California on Wednesday, with the worst of the weather expected on Thursday. The storm is expected to be the strongest in a year, according to <a href="https://www.latimes.com/california/story/2025-02-11/strongest-southern-california-storm-in-a-year-what-to-know">the</a> Los Angeles Times and will bring heavy rains to the entire state, including fire-damaged areas of Los Angeles. 



The National Weather Service warned of "potentially life-threatening and damaging flooding and debris flows," which are a type of landslide that may affect the recently burned areas.&nbsp;



Residents and insurance companies in Southern California, like Allstate Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) and Chubb Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>), may take another hit if further damage is caused by landslides and debris flows in the fire-ravaged areas.&nbsp;



Read Next:



<ul>
<li><a href="https://www.benzinga.com/general/social-media/25/02/43535256/palantir-adds-elon-musks-ai-chatbot-grok-to-aip">Palantir Adds Elon Musk&#8217;s AI Chatbot Grok To AIP</a></li>
</ul>



Image: Shutterstock

Large Cap

News

Travel

Insurance

General

February Winter Weather Set To Bring Northeast Snow, Soak California Fire Zones

Canadian Prime Minister Justin Trudeau on Tuesday highlighted the adverse effects of the U.S. steel and aluminum tariffs and warned of a strong response if required.



What Happened: Trudeau criticized the recent tariffs calling them &#8220;Unacceptable&#8221; and said &#8220;Canadians will stand up strongly and firmly if we need to,&#8221; reported Reuters.



On Monday, U.S. President Donald Trump signed orders to increase tariffs on <a href="https://www.benzinga.com/markets/equities/25/02/43613133/trumps-25-tarrifs-a-self-inflicted-wound-says-economist-amid-warnings-of-fewer-american-jobs-peter-schiff-says-youll-pay-more-for-cars-and-homes">steel and aluminum imports to 25%</a> without exceptions. This decision, effective Mar 4, intended to boost the struggling industry, could escalate into a wider trade conflict.



SEE ALSO: <a href="https://www.benzinga.com/25/02/43616261/trumps-punitive-tariffs-could-lead-to-us-job-losses-warns-former-ambassadorwere-in-for-a-bit-of-bad-news-in-the-near-term">Trump&#8217;s &#8216;Punitive&#8217; Tariffs Could Lead To US Job Losses, Warns Former Envoy: &#8216;We&#8217;re In For A Bit Of Bad News In The Near Term&#8217;</a>



Why It Matters: This development comes amid escalating tensions between the two nations. Earlier this month, Trudeau expressed concerns over Trump&#8217;s threat to annex Canada. He suggested that Trump&#8217;s interest in making <a href="https://www.benzinga.com/25/02/43582659/trump-says-canada-much-better-off-being-the-51st-state-the-border-with-us-is-just-a-line">Canada the &#8220;51st state&#8221;</a> was driven by a desire to access the country&#8217;s critical minerals. According to&nbsp;the American Iron and Steel Institute, approximately 80% of U.S. primary aluminum imports were from Canada. 



President of the Canadian Labour Congress, Bea Bruske, recalled Trump's previous steel and aluminum tariffs and stated that it had a "devastating impact" on the workers in the country. "Thousands of workers faced layoffs and uncertainty, and the effects rippled across manufacturing, construction and supply chains," stated Bruske.



Minister of Innovation, Science and Industry of Canada, François-Philippe Champagne, called the U.S. tariffs &#8216;totally unjustified&#8217; and stated, &#8220;We are consulting with our international partners as we examine the details. Our response will be clear and calibrated.&#8221;



Trump&#8217;s tariffs on steel and aluminum are set to ripple across key U.S. industries, driving up costs for manufacturers and consumers alike. The automotive sector, including Ford (NYSE F), General Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), and Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), faces higher production expenses, while aerospace giants like Boeing (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) and Lockheed Martin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) may see increased material costs. The construction and infrastructure industry is also expected to feel the impact. According to <a href="https://www.barrons.com/articles/trump-steel-tariffs-car-prices-707e1af4">Barron&#8217;s</a>, the tariffs could add as much as $2,000 to the price of a new car.



<ul>
<li>READ MORE: <a href="https://www.benzinga.com/news/25/02/43543459/i-love-canada-more-than-i-love-spotify-canadians-are-canceling-netflix-amazon-disney-and-spotify-en-masse-despite-the-tariff-pause">&#8216;I Love Canada More Than I Love Spotify&#8217;—Canadians Are Canceling Netflix, Amazon, Disney+, And Spotify En Masse, Despite The Tariff Pause</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.

TSLA

Justin Trudeau Slams 'Unacceptable' US Tariffs After Trump Imposes 25% Levy On Metal Imports : 'Canadians Will Stand Up Strongly And Firmly If We Need To'

Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) shares are <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">trading higher</a> following better-than-expected fourth-quarter earnings results.



The company reported fourth-quarter sales growth of 6% year-on-year to $11.5 billion, beating the analyst <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/b43618735/coca-cola-reports-fourth-quarter-and-full-year-2024-results" rel="noreferrer noopener">consensus estimate of $10.677 billion</a>.



Revenue performance included a 5% climb in concentrate sales and a 9% growth in price/mix. Unit case volume grew 2% in the quarter. Organic revenues increased 14%.



Coca-Cola&#8217;s organic revenue in Europe, Middle East and Africa jumped 17% in the fourth quarter, while in North America, it increased 15%.



Gross profit rose 12% to $6.93 billion with a <a target="_blank" href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000021344/000002134425000005/ko-20250211.htm" rel="noreferrer noopener">profit margin of 60%</a>. The operating margin expanded 250 basis points to 23.5%, while the comparable operating margin gained 90 basis points to 24%.&nbsp;



Operating income for the quarter increased 19.2% to $2.7 billion. Adjusted EPS of $0.55<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener"> beat the consensus</a> estimate of $0.52.



Also Read: <a target="_blank" href="https://www.benzinga.com/news/management/25/02/43617258/southwest-airlines-taps-tom-doxey-as-cfo-details" rel="noreferrer noopener">Southwest Airlines Taps Tom Doxey As CFO: Details</a>



Operating cash flow generated for twelve months was $6.8 billion, a 41% decrease from the prior year. Free cash flow totaled $4.7 billion. KO held $14.5 billion in cash and equivalents as of December&nbsp;end.



In 2024, the company issued $0.7 billion of shares in connection with the exercise of stock options by employees and purchased $1.8 billion of shares.



&#8220;Our all-weather strategy is working, and we continue to demonstrate our ability to lead through dynamic external environments,&#8221; said Chairman and CEO James Quincey.



Outlook: Coca-Cola expects FY25 organic revenue of 5% &#8211; 6%. KO sees comparable currency neutral EPS growth of 8% – 10%. The company anticipates comparable EPS growth of 2% – 3%.



Coca-Cola sees free cash flow excluding the fairlife contingent consideration payment (non-GAAP) of approximately $9.5 billion.



For first-quarter, comparable net revenues are expected to include a 3% to 4% currency headwind.



Price Action: KO shares are trading higher by 4.71% at $67.52 in premarket at the last check Tuesday.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/02/43599121/hyatt-hotels-to-acquire-playa-hotels-resorts-in-26b-deal" target="_blank" rel="noreferrer noopener">Hyatt Expands All-Inclusive Empire With $2.6 Billion Playa Deal: Asset-Light Strategy In Focus</a></li>
</ul>



Image via Shutterstock.

Earnings

Equities

Guidance

Movers

Coca-Cola Pops In Q4—Revenue Soars 6%, CEO Hails 'All-Weather Strategy'

An investor group led by Elon Musk has proposed a <a href="https://www.benzinga.com/25/02/43609104/elon-musk-co-founded-openai-now-hes-bidding-974b-to-take-back-the-company">$97.4 billion bid to take</a> control of OpenAI, a move that OpenAI&#8217;s CEO, Sam Altman, thinks may be an attempt to &#8220;slow down a competitor.&#8221;



What Happened: Altman cast doubt on Musk&#8217;s true intentions behind the bid. He dismissed the notion that Musk was genuinely interested in acquiring OpenAI, stating, &#8220;Not particularly&#8221;, in an interview with&nbsp;<a href="https://www.cnbc.com/2025/02/11/musks-97point4-billion-for-openai-aims-to-slow-down-a-competitor-sam-altman-says.html">CNBC</a>&nbsp;on Tuesday



Altman believes that Musk&#8217;s bid could be a strategic maneuver to hinder a competitor and gain an advantage with his own AI company, xAI. The $97.4 billion offer, confirmed by CNBC on Monday,&nbsp;is for the nonprofit that&nbsp;supervises the artificial intelligence startup responsible for ChatGPT.



Musk&#8217;s legal representative, Marc Toberoff, confirmed that the offer was submitted on Monday, adding, &#8220;It&#8217;s time for OpenAI to return to the open-source, safety-focused force for good it once was.&#8221;



SEE ALSO: <a href="https://www.benzinga.com/markets/asia/25/02/43613949/tesla-supplier-catl-eyes-5-billion-hong-kong-listing-amid-us-sanctions-market-revival-report">Tesla Supplier CATL Eyes $5 Billion Hong Kong Listing Amid US Sanctions, Market Revival: Report</a>



Why It Matters: Elon Musk, who co-founded OpenAI, had previously departed from the company in 2018 over disagreements about its direction. His current bid comes as OpenAI transitions to a for-profit structure, a move Musk has legally challenged.



Founder of Telluride Legal Strategies, Rob Rosenberg indicated that Musk&#8217;s actions might create challenges for OpenAI as it seeks to shift away from its non-profit status, as per Bloomberg. Musk and Altman have been engaged in a prolonged dispute. In August, Musk also filed a lawsuit against OpenAI calling its partnership with Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) a &#8216;monopoly&#8217; aiming to eliminate competitors. 



OpenAI&#8217;s AI-powered chatbot, ChatGPT, has recently&nbsp;<a href="https://www.benzinga.com/25/02/43613038/openais-chatgpt-surpasses-elon-musks-x-and-yahoo-to-rank-sixth-most-visited-website-globally-sam-altman-says-still-a-long-way-to-go-to-run-down-google">surpassed</a>&nbsp;Musk&#8217;s X in web traffic, ranking as the sixth most-visited website globally in January 2025. This could potentially be a factor in Musk&#8217;s bid for control of the company. 



<ul>
<li>READ MORE: <a href="https://www.benzinga.com/markets/equities/25/02/43591228/sam-altmans-openai-set-to-finalize-in-house-ai-chip-reducing-dependence-on-nvidia-report">Sam Altman&#8217;s OpenAI Set To Finalize In-House AI Chip, Reducing Dependence On Nvidia: Report</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.

Tech

MSFT

Sam Altman Says Elon Musk's $97B Bid For OpenAI Is A Move To 'Slow Down A Competitor'

BP PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) shares are trading lower after <a href="https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-fourth-quarter-2024-results.pdf" target="_blank" rel="noreferrer noopener">the </a>company reported fourth-quarter results.



Sales and other operating revenues came in at&nbsp;$45.752 billion, missing the consensus of&nbsp;$47.511 billion.



Hydrocarbon production was 850 mboe/d (-5.4% Y/Y), with underlying production declining&nbsp;2.7% Y/Y mainly due to base decline in Egypt.



The Renewables pipeline stood at 60.6GW (bp net), including a 38.7GW bp net share from Lightsource bp&#8217;s (LSbp&#8217;s) pipeline in the quarter.&nbsp;



Adjusted EBITDA declined to&nbsp;$8.41 billion from&nbsp;$10.57 billion a year ago.&nbsp;Underlying RC profit per American Depositary Share (ADS) came in at&nbsp;$0.44,<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener"> missing the consensus of&nbsp;$0.47.&nbsp;</a>



Operating cash flow was&nbsp;$7.43 billion, compared to&nbsp;$9.38 billion in the prior-year quarter.&nbsp;



Capital expenditure was&nbsp;$3.73 billion versus&nbsp;$4.71 billion a year ago.&nbsp;Net debt rose to&nbsp;$23.0 billion from&nbsp;$20.9 billion a year ago.



Chief executive officer Murray Auchincloss said, &#8220;We have been reshaping our portfolio &#8211; sanctioning new major projects, and focusing our low-carbon investment &#8211; and we have made strong progress in reducing costs. Building on the actions taken in the last 12 months, we now plan to fundamentally reset our strategy and drive further improvements in performance, all in service of growing cash flow and returns.&#8221;



Kate Thomson, Chief Financial Officer, stated, &#8220;During the year, we introduced our target to deliver at least $2 billion of savings(a) by the end of 2026 relative to 2023 and are making strong progress, achieving $0.8 billion of structural cost reduction. We raised the dividend per ordinary share by 10% and delivered $7 billion of share buybacks.&#8221;



Related: <a target="_blank" href="https://www.benzinga.com/news/earnings/25/02/43608991/bp-set-to-report-q4-earnings-as-elliot-management-builds-stake" rel="noreferrer noopener">BP Set To Report Q4 Earnings As Elliot Management Builds Stake: Declining Margins, Revenues In The Spotlight</a>



Dividend: BP disclosed an interim dividend of 8.000 cents per ordinary share, payable on March 28, 2025. Holders of ADSs are expected to receive&nbsp;$0.48 per ADS.



Repurchase: The company completed previously announced&nbsp;$1.75 billion in share buybacks during the quarter.



Furthermore, BP plans to conduct a&nbsp;$1.75 billion&nbsp;share buyback before its&nbsp;first-quarter&nbsp;earnings release.



Elliott Management, a U.S.-based activist hedge fund managing approximately $70 billion in assets, reportedly acquired a stake in BP. The fund advocates for substantial changes at the British oil <a target="_blank" href="https://www.benzinga.com/news/large-cap/25/02/43591241/whats-going-on-with-oil-giant-bp-stock-today" rel="noreferrer noopener">company to boost its performance</a>.



First-Quarter FY25&nbsp;Outlook: BP anticipates upstream production to be lower than the&nbsp;fourth quarter&nbsp;of 2024.



In its customer business, BP projects seasonally lower volumes sequentially, with fuel margins likely remaining sensitive to supply cost fluctuations.



In the products segment, BP expects refining margins to stay low in the&nbsp;first quarter and expects a lower level of refinery turnaround activity compared to the fourth quarter of 2024.



FY25&nbsp;Guidance: BP&nbsp;expects reported upstream production to be lower and underlying upstream production to be&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">slightly lower than the prior year</a>.&nbsp;



It anticipates divestments and other proceeds to be around $3 billion&nbsp;for the year, with weighted towards the second half.



BP anticipates approximately $3 billion in divestment and other proceeds in 2025, primarily in the second half.



With $22 billion realized since the second quarter of 2020, the company remains on track to achieve its $25 billion target for the 2020-2025 period.



The company sees Gulf of America settlement payments for the year to be about $1.2 billion&nbsp;pre-tax, including&nbsp;$1.1 billion&nbsp;pre-tax to be paid during the&nbsp;second quarter.



Yesterday, BP inked a contract with Oil and Natural Gas Corporation Limited (ONGC), as per which bp will serve as the Technical Services Provider (<a target="_blank" href="https://www.bp.com/en/global/corporate/news-and-insights/press-releases/ongc-and-bp-sign-contract-to-enhance-production-from-mumbai-high.html" rel="noreferrer noopener">TSP</a>) for the Mumbai High field, India&#8217;s largest and most prolific offshore oil field.



Investors can gain exposure to the stock via&nbsp;Texas Capital Texas Oil Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OILT#NYSE">OILT</a>) and Abacus FCF Real Assets Leaders ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ABLD#BATS">ABLD</a>).



Price Action: BP shares are trading lower by 0.67% at $34.19 premarket at the last check Tuesday.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/02/43614105/activist-investor-elliott-builds-25-billion-stake-in-phillips-66-pressures-for-midstream-spinoff-report" target="_blank" rel="noreferrer noopener">Activist Investor Elliott Builds $2.5 Billion Stake In Phillips 66, Pressures For Midstream Spinoff: Report</a></li>
</ul>



Photo: Jon Lyall via Shutterstock.

ABLD

OILT

BP Q4 Results: Lower Revenue, Rising Debt, CEO Pledges Fundamental Strategy Shift And More

U.S. stock futures fell on Tuesday after ending higher on Monday amid a revenue miss from McDonald&#8217;s Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) and weak ON Semiconductor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) earnings. All four benchmark indices were trading lower.



President Donald Trump imposed the promised 25% tariff on steel and aluminum imports on Monday, including from Canada and Mexico, targeting metal products to protect U.S. industries and counteract efforts by countries like Russia and China to bypass existing duties.



The 10-year Treasury yield stood at 4.52%, while the two-year yield was at 4.28%. According <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">to</a> the CME Group's FedWatch tool, there is a 93.5% 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>-0.52%</td></tr><tr><td>S&amp;P 500</td><td>-0.39%</td></tr><tr><td>Dow Jones</td><td>-0.25%</td></tr><tr><td>Russell 2000</td><td>-0.53%</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>) both experienced negative premarket trading on Tuesday. SPY fell 0.35% to $602.76, and QQQ declined 0.44% to $526.93, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From The Last Session



Chipmakers led a Nasdaq <a href="https://www.benzinga.com/news/earnings/25/02/43615981/nasdaq-gains-1-as-nvidia-broadcom-rise-investor-sentiment-improves-fear-greed-index-moves-to-neutral-zone">surge</a> of nearly 1% on Monday, with Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), and Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) all posting significant gains.



This tech sector strength, along with energy and utilities gains, propelled the S&amp;P 500 and the Dow Jones. Despite last week&#8217;s losses driven by inflation and tariff concerns, Monday saw investors shrug off those worries.



Financials and utilities were the only S&amp;P 500 sectors to close lower. Inflation expectations remained steady at 3% for January.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>0.98%</td><td>19,714.27</td></tr><tr><td>S&amp;P 500</td><td>0.67%</td><td>6,066.44</td></tr><tr><td>Dow Jones</td><td>0.38%</td><td>44,470.41</td></tr><tr><td>Russell 2000</td><td>0.36%</td><td>2,287.94</td></tr></tbody></table></figure>



Insights From Analysts



Wharton finance professor Jeremy Siegel, in a podcast, forecasted that the stock market's response would be entirely contingent on the duration of the tariffs. &#8220;As long as these tariffs are in effect and are not lowered, it&#8217;s very hard to see the stock market going up," stated Siegel.



&#8220;Trump's tariffs are now higher on the mind of investors than most of the economic data and will likely be the most important mover of stocks until the last set of data before the March meeting,&#8221; he added in his weekly commentary note.



The chief market strategist at Carson Research, Ryan Detrick highlighted a data point comparing the S&amp;P 500&#8217;s December lows to the next year&#8217;s first quarter low.



According to this data, if the S&amp;P 500 index falls below its previous year&#8217;s December low in the first quarter of a new year, it is likely that the full-year return could be negative.



The index fell by 0.2% on average for the full year when the first quarter&#8217;s lowest level has fallen below December&#8217;s lowest level.



<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">One big worry I have is the S&amp;P 500 in Q1 violated it&#39;s December closing low. The returns for the full yr are much worse when this happens vs doesn&#39;t happen. Years like '73, '74, tech bubble, '08, and '22 all made this infamous list. Now 2025. <a href="https://t.co/nEtUjpGapw">pic.twitter.com/nEtUjpGapw</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1889067316417073271?ref_src=twsrc%5Etfw">February 10, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Meanwhile, on the economic front, former Treasury Secretary Larry Summers warned the proposed tariffs would lead to "fewer American jobs, more American inflation, and probably a bigger trade deficit," questioning potential national security benefits from tariffing allies.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I&#39;m sorry that Trump&#39;s threatened steel and aluminum tariffs have now been implemented. This will mean fewer American jobs, more American inflation and because of damage to us exports probably a bigger trade deficit. I do not see any national security gain from tariffing Canada.&mdash; Lawrence H. Summers (@LHSummers) <a href="https://twitter.com/LHSummers/status/1889114367645344099?ref_src=twsrc%5Etfw">February 11, 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 an eye on Tuesday:



<ul>
<li>On Tuesday, January&#8217;s NFIB optimism index data will be released at 6:00 a.m., ET.</li>
</ul>



<ul>
<li>Cleveland Fed President Beth Hammack will speak at 8:50 a.m., ET.</li>
</ul>



<ul>
<li>Fed Chairman Jerome Powell&#8217;s testimony to Congress begins at 10:00 a.m., ET.</li>
</ul>



<ul>
<li>San Francisco Fed President Mary C Daly will speak at 10:20 a.m., and New York Fed President John C Williams and Fed Governor Michelle Bowman will speak at 3:30 p.m., ET.</li>
</ul>



Stocks In Focus:



<ul>
<li>Coca-Cola Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) was up 0.01% in premarket on Tuesday ahead of its earnings, which will be released before the opening bell. Analysts expect it to report quarterly earnings of 52 cents per share on revenue of $10.68 billion.</li>
</ul>



<ul>
<li>Marriott International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>) fell 0.16% as Wall Street expects it to report quarterly earnings of $2.38 per share on revenue of $6.38 billion before the opening bell.</li>
</ul>



<ul>
<li>Shopify Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) gained 3.42% ahead of its earnings, which will be released before the opening bell. Analysts expect it to report quarterly earnings of 43 cents per share on revenue of $2.73 billion.</li>
</ul>



<ul>
<li>Gilead Sciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>) rose 0.05% as Wall Street expects it to report quarterly earnings of $1.70 per share on revenue of $7.14 billion after the closing bell.</li>
</ul>



<ul>
<li>Harmonic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HLIT#NASDAQ">HLIT</a>) was down 25.63% after it reported better-than-expected earnings for its fourth quarter but issued weak guidance for the first quarter.</li>
</ul>



<ul>
<li>Fluence Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLNC#NASDAQ">FLNC</a>) was down 35.42% after it reported first-quarter revenue of $186.8 million, representing a 49% decrease year-over-year. Net loss increased to $57.0 million from $25.6 million year-over-year.</li>
</ul>



Commodities, Gold And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 1.27% to hover around $73.24 per barrel.



The gold spot index was down by 0.15% to $2,903.52 per ounce. The Dollar Index was down 0.01% at 108.309 level.



Asian markets were mixed on Monday. Australia's ASX 200, South Korea's Kospi, and Japan's Nikkei 225 index advanced. Whereas, China's CSI 300, and Hong Kong's Hang Seng index fell. European markets were mostly higher in trade.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/02/43616409/warren-buffetts-berkshire-hathaway-loads-up-on-sirius-xm-amid-price-target-cuts-company-pays-dividend-but-better-off-in-t-bills-says-expert">Warren Buffett&#8217;s Berkshire Hathaway Loads Up On Sirius XM Amid Price Target Cuts: Company Pays Dividend &#8216;But Better Off In T-Bills,&#8217; Says Expert</a></li>
</ul>



Photo courtesy: Shutterstock

Government

Pre-Market Outlook

AVGO

FLNC

GILD

HLIT

NVDA

SHOP

US Stock To Likely Open Lower Amid Tariff Tensions: Expert Hints Sans Lower Tariffs It's Hard To See The 'Market Going Up'

Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) is trading 3.8% lower in pre-market on Tuesday ahead of its second-quarter earnings call scheduled today after the market close.



What Happened: The company&#8217;s management is likely to provide updates on the delayed filing of its annual report for the fiscal year ending June 30, 2024, during the earnings call today. The shares of SMCI surged 17.5% on Monday, a day before its earnings release.



The Nasdaq Exchange has permitted SMCI to submit its 10-K filing until Feb. 25. The San Jose, California-based artificial intelligence company risks delisting if it misses the deadline.



In July, Ernst &amp; Young (EY), then serving as Super Micro&#8217;s auditor, expressed concerns about the company&#8217;s governance and internal controls over financial reporting, prompting the board to establish a special committee. In December, Super Micro issued a statement regarding the special committee being unable to discover material facts backing EY&#8217;s statements, adding that there were no significant concerns regarding the integrity of Super Micro&#8217;s management. Previously, SMCI CEO Charles Liang expressed confidence that the technology company&#8217;s stock will not be delisted from the Nasdaq.



SEE ALSO: <a href="https://www.benzinga.com/news/earnings/25/02/43600652/super-micro-computer-q2-earnings-preview-accounting-updates-nasdaq-deadline-on-watch">Super Micro Computer Q2 Earnings Preview: Accounting Updates, Nasdaq Deadline On Watch</a>



Why It Matters: <a href="https://www.benzinga.com/news/earnings/25/02/43600652/super-micro-computer-q2-earnings-preview-accounting-updates-nasdaq-deadline-on-watch">Wall Street is keenly observing</a> SMCI&#8217;s ongoing accounting issues. Investors are also eager for communication from the company regarding improvements to its financial controls and transparency. This is crucial to reassure shareholders about its governance practices, especially in light of the potential delisting risk.



In a note, Wedbush analyst, Matt Bryson, stated that they believe Supermicro may successfully restate its financials or could also seek a 180-day extension. However, they expressed uncertainty about Super Micro Computer&#8217;s near-term performance, pointing out that competitors such as HP Enterprise (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) have secured contracts in the artificial intelligence server market.



Bryson has expressed reservations about the company&#8217;s current stock price, citing &#8220;substantial unknowns&#8221; that could negatively impact the share price in the future.



However, Loop Capital Markets analyst&nbsp;Ananda Baruah&nbsp;is upbeat on SMCI and considers it an "important company in an important space" poised to benefit from growth factors like overcoming SEC filing delays and maintaining strong fundamentals.



SMCI stock has plunged more than 44% over the past year.



<ul>
<li>READ MORE: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/43591520/dell-vs-hp-ai-server-jpmorgan-pick">Wall Street&#8217;s AI Server Darling? JPMorgan Says It&#8217;s Still Dell</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.

SMCI

SMCI Stock Falls Nearly 4% In Tuesday Pre-Market As Investors Await An Update On Delayed Filing

While gold continues to climb toward its historic milestone of $3,000 per ounce, propelled by the escalating tariff wars, gold miners have <a target="_blank" href="https://www.benzinga.com/25/02/43590446/gold-prices-near-3000-outpacing-us-equities-as-it-hits-a-fresh-record-high-amid-donald-trumps-trade-war-led-market-uncertainty" rel="noreferrer noopener">lagged this success</a>. Rising labor costs, foreign government pressures, and inflation are squeezing profitability, raising questions on whether they can catch up.



Gold's recent performance has been stellar, as the precious metal gained 27% in 2024 and over 11% in the first six weeks of 2025. However, mining equities have not kept up the pace.



Top majors Barrick (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) and Newmont NYSE: NEM) reported disappointing third-quarter earnings, as all-in-sustaining costs (AISC) rose by 20% and 13%, respectively.



"Labor remains one of the substantial expenses for miners, and we expect the inflation story to continue playing out over the next year or so," Sarah Tomlinson, director of mine supply at Metal Focus, noted for Reuters.



In Australia, a major gold-producing country, the Albanese government's "<a target="_blank" href="https://ministers.dewr.gov.au/watt/same-job-same-pay-growing-wages-australian-workers" rel="noreferrer noopener">Same Job, Same Pay</a>" legislation has increased wages for mine workers. The policy, which came into effect last November, ensures that temporary workers receive the same pay as permanent employees performing the same job.



Thus, 120 workers in New South Wales mines saw annual wages rise by up to $22,000, with another 1,500 workers likely to benefit from similar adjustments. While this policy promotes wage equity, it has added to miners' cost burdens, particularly in an industry grappling with labor shortages and declining interest in mining careers.



Rising gold prices have also driven governments' interest in boosting royalty participation within their jurisdictions. The military-led government has introduced new royalties and tax demands in Mali, Africa's fourth-largest gold producer. The government has increased its share of mining revenues and ordered Barrick to pay back <a target="_blank" href="https://www.benzinga.com/markets/commodities/24/10/41571989/mali-government-threatens-barricks-loulo-mine-permit-over-disputes-on-economic-benefit-sharin" rel="noreferrer noopener">hundreds of millions</a> in taxes and dividends.



In turn, this had a double-whammy impact: effectively, it drove down the country's production—which <a target="_blank" href="https://www.benzinga.com/news/global/25/02/43588936/malian-gold-output-falls-23-as-new-mining-law-pressures-producers" rel="noreferrer noopener">fell by 23%</a> in 2024—while making operations there less profitable.



Still, the gold mining industry has been grappling with rising AISC for years. Since 2016, the average AISC has climbed steadily, driven by higher energy, materials, and labor costs.



In 2022, AISC reached a record high of $1,276 per ounce, up 18% year over year, <a target="_blank" href="https://ibisingold.com/en/article/gold-mining-costs-have-reached-record-levels-what-is-next-for-the-metal" rel="noreferrer noopener">per</a> IBIS InGold.



Despite producer cost pressures, gold's long-term outlook remains strong. Sabrin Chowdhury, head of commodities analysis at BMI, expects it to continue outperforming other metals.



"Gold is benefiting strongly from economic and geopolitical risks, and we expect it to remain elevated," Chowdhury recently <a target="_blank" href="https://www.fitchsolutions.com/bmi/events/mining-and-metals-key-themes-2025-04-02-2025" rel="noreferrer noopener">noted</a>, highlighting central bank buying, trade tensions, and FED's rate cuts as supporting factors.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/02/43615367/peter-schiff-predicts-silvers-explosive-catch-up-move-as-the-gold-to-silver-ratio-crosses-901-analysts-foresee-silver-prices-to-touch-38-in-2025" target="_blank" rel="noreferrer noopener">Peter Schiff Says Silver Is Set For An ‘Explosive' Rally As Yellow Metal Nears $3,000: ‘If You Think You Missed The Boat On Gold'</a></li>
</ul>



Photo by Inozemtsev Konstantin via Shutterstock

Global

Media

GOLD

OUNZ

SGOL

Gold Nears $3,000 But Miners Struggle As Rising Costs Squeeze Profits

On Monday, the U.S. District Court for the District of Massachusetts temporarily blocked the National Institutes of Health (NIH) from cutting research funding in 22 states.



What Happened: On Friday, under updated guidelines, NIH said it would now <a target="_blank" href="https://grants.nih.gov/grants/guide/notice-files/NOT-OD-25-068.html" rel="noreferrer noopener">apply</a> a standard indirect cost rate of 15% to all new and existing grants, replacing the previous practice of negotiating separate rates for each grant.



Historically, NIH's average indirect cost rate has been around 27%–28%, with some institutions charging over 50% or even 60%.



Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/government/regulations/24/11/41866438/donald-trumps-second-term-could-reshape-us-healthcare-system-with-major-impacts-on-affordable-care-act-and-medicare" rel="noreferrer noopener">Donald Trump's Second Term Could Reshape US Healthcare System, With Major Impacts on Affordable Care Act And Medicare</a>



In 2023, NIH awarded over $35 billion in research funding across nearly 50,000 grants. Of this, $26 billion went directly to research, while $9 billion covered indirect costs.



By implementing a 15% rate, NIH aligns more closely with private research funders. Many private foundations, including the Bill &amp; Melinda Gates Foundation, cap indirect costs at 10%–15%, while some do not cover indirect costs at all.



Why It Matters: NIH has a $48 billion budget and 27 institutes that fund critical research on diseases like <a target="_blank" href="https://www.benzinga.com/general/biotech/24/11/42222191/donald-trump-nominates-pandemic-critic-jay-bhattacharya-tapped-to-reshape-national-institutes-of-health-that-oversees-budget-of-48-billion" rel="noreferrer noopener">cancer and diabetes</a>. The funding cuts were to take effect on Monday, 10 February.



In a social media post, NIH <a target="_blank" href="https://x.com/NIH/status/1888004759396958263?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet&amp;mx=2" rel="noreferrer noopener">said</a> the change would save the federal government $4 billion annually. It said three schools that had charged more than 60% in indirect rates—Harvard University, Yale University, and Johns Hopkins University—had multibillion-dollar endowments.



A complaint <a target="_blank" href="https://coag.gov/app/uploads/2025/02/ECF-001-Complaint-Mass.-v.-NIH-1.pdf" rel="noreferrer noopener">filed</a> earlier on Monday argued that "Without relief from NIH's action, these institutions' cutting-edge work to cure and treat human disease will grind to a halt."



The lawsuit also mentioned, "In issuing the Rate Change Notice, the NIH has also acted beyond its statutory authority and has failed to promulgate the change using notice and comment rulemaking."



The lawsuit adds, "The Rate Change Notice is arbitrary and capricious in, among other ways, its failure to articulate the bases for the categorical rate cap of 15%, its failure to consider the grant recipients' reliance on their negotiated rates, and its disregard for the factual findings that formed the bases for the currently operative negotiated indirect cost rates."



The NIH action will "devastate critical public health research at universities and research institutions," the lawsuit claims.



The complaint alleges that the agency's action will result in layoffs, suspension of clinical trials, disruption of ongoing research programs, and laboratory closures.



Judge Angel Kelley of the U.S. District Court for the District of Massachusetts <a target="_blank" href="https://fingfx.thomsonreuters.com/gfx/legaldocs/gdpzkzwrwvw/02102025nih_order.pdf" rel="noreferrer noopener">issued</a> a temporary restraining order asking the 22 states to file a status report in 24 hours and again every two weeks to confirm the regular disbursement of the funds. The judge set a hearing for 21 February.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/tech/25/02/43608591/taiwan-semiconductors-trillion-dollar-valuation-the-chipmaker-enabling-ai-boom" target="_blank" rel="noreferrer noopener">Taiwan Semiconductor's Trillion-Dollar Valuation: The Chipmaker Enabling AI Boom</a></li>
</ul>



Image via Shutterstock

Biotech

Health Care

US States Sue National Institutes Of Health Over $4 Billion Annual Cut In Biomedical Research Grant Budget

Editor's Note: A typographical error in the headline of this story has been corrected.



Leading economists criticized former President Donald Trump&#8216;s plan to reimpose 25% tariffs on metal imports, while U.S. steel stocks rallied sharply during Monday&#8217;s trading session amid expectations of <a href="https://www.benzinga.com/markets/equities/25/02/43583123/trump-to-announce-25-steel-and-aluminum-tariffs-economist-warns-president-is-making-us-manufacturing-globally-uncompetitive">reduced foreign competition</a>.



What Happened: Former Treasury Secretary Larry Summers warned the proposed tariffs would lead to &#8220;fewer American jobs, more American inflation, and probably a bigger trade deficit,&#8221; questioning potential national security benefits from tariffing allies. 



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I&#39;m sorry that Trump&#39;s threatened steel and aluminum tariffs have now been implemented. This will mean fewer American jobs, more American inflation and because of damage to us exports probably a bigger trade deficit. I do not see any national security gain from tariffing Canada.&mdash; Lawrence H. Summers (@LHSummers) <a href="https://twitter.com/LHSummers/status/1889114367645344099?ref_src=twsrc%5Etfw">February 11, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Jason Furman, former Chair of the Council of Economic Advisers under former President Barack Obama, called the policy a &#8220;self-inflicted wound&#8221; that would raise input costs for American manufacturers.



<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">Public policy shouldn't aim to help manufacturing. But nor should it aim to hurt manufacturing. And that is exactly what steel and aluminum tariffs do, raising input costs for American manufacturers. Not to mention raising borrowing costs &amp; the dollar. A self inflicted wound.&mdash; Jason Furman (@jasonfurman) <a href="https://twitter.com/jasonfurman/status/1889115505044177308?ref_src=twsrc%5Etfw">February 11, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Steel stocks <a href="https://www.benzinga.com/government/regulations/25/02/43592144/us-steel-aluminum-stocks-rally-as-trump-revives-25-tariff-plan">responded positively to the announcement</a>, with Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) surging 23%, while Nucor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) and Steel Dynamics Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NYSE">STLD</a>) gained 6.52% and 5.75% respectively. United States Steel Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) advanced 6.63%, and Century Aluminum Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CENX#NASDAQ">CENX</a>) rose 14.1%.



The tariffs announced by Trump would apply to all countries without exemptions. The policy mirrors his 2018 measures that imposed 25% duties on steel and 10% on aluminum imports, citing <a href="https://www.benzinga.com/markets/equities/25/02/43583123/trump-to-announce-25-steel-and-aluminum-tariffs-economist-warns-president-is-making-us-manufacturing-globally-uncompetitive">national security concerns</a>.



Market analyst Peter Schiff cautioned about broader economic implications: &#8220;Everything that American companies manufacture or build that requires steel or aluminum, such as cars, aircraft, appliances, and houses will cost more.&#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">Trump imposed 25% tariffs on steel and aluminum imports. That means not only will steel and aluminum cost Americans 25% more, but everything that American companies manufacture or build that requires steel or aluminum, such as cars, aircraft, appliances, &amp; houses will cost more.&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1889094246545736007?ref_src=twsrc%5Etfw">February 10, 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/25/02/43605813/oil-prices-energy-stocks-jump-as-gaza-ceasefire-risks-collapse-on-rising-hamas-israel-tensions">Oil Prices, Energy Stocks Jump As Gaza Ceasefire Risks Collapse On Rising Hamas-Israel Tensions</a>



Why It Matters: Benn Steil, director of international economics at the Council on Foreign Relations, noted <a href="https://www.benzinga.com/markets/equities/25/02/43583123/trump-to-announce-25-steel-and-aluminum-tariffs-economist-warns-president-is-making-us-manufacturing-globally-uncompetitive">the disproportionate impact</a> on Sunday, citing that &#8220;Steel-using firms employ over 5 million Americans&#8230; Steel-intensive industries account for over 20% of U.S. manufacturing output.&#8221;



The impact could be particularly significant for U.S.-Canada trade relations. According to U.S. Census Bureau data, Canada exported $11.2 billion in steel and $9.5 billion in aluminum to the U.S. in 2024. Canadian Innovation Minister Francois-Philippe Champagne emphasized the critical role of Canadian metals in <a href="https://in.benzinga.com/government/regulations/25/02/43592144/us-steel-aluminum-stocks-rally-as-trump-revives-25-tariff-plan">U.S. defense and manufacturing sectors</a>.



The automotive industry, which employs 7 million Americans, could face significant challenges from higher material costs. European steelmakers, including German manufacturer Salzgitter, warned the tariffs could redirect excess global supply toward their markets, potentially destabilizing <a href="https://in.benzinga.com/government/regulations/25/02/43592144/us-steel-aluminum-stocks-rally-as-trump-revives-25-tariff-plan">international trade dynamics</a>.



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<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/02/43608052/traders-rethink-interest-rate-path-as-inflation-concerns-resume-feds-rate-cutting-cycle-is-over-economist-says">Traders Rethink Interest-Rate Path As Inflation Concerns Resume: &#8216;Fed&#8217;s Rate-Cutting Cycle Is Over,&#8217; Economist Says</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.

CENX

Trump's 25% Tariffs A 'Self-Inflicted Wound,' Says Economist Amid Warnings Of Fewer American Jobs — Peter Schiff Says You'll Pay More For Cars And Homes (CORRECTED)

On Monday, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) rolled out iOS 18.3.1 and iPadOS 18.3.1 updates.



What Happened: The updates address a vulnerability that could disable USB Restricted Mode on locked devices, said Apple.



The flaw, which required physical access to the device, was reportedly exploited in sophisticated attacks targeting specific individuals.



See Also:&nbsp;<a href="https://www.benzinga.com/tech/25/01/43220055/apple-airpods-with-cameras-rumors-persist-about-next-gen-features" target="_blank" rel="noreferrer noopener">Apple AirPods With Cameras? Rumors Persist About Next-Gen Features</a>



Apple has acknowledged the issue and confirmed that it was actively used against certain targets. The company has improved state management to resolve the vulnerability.



Apple also released iPadOS 17.7.5 for devices unable to run iPadOS 18, ensuring broader protection.



Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.



Why It Matters: The release of iOS 18.3.1 comes at a crucial time as Apple prepares for the upcoming <a href="https://www.benzinga.com/tech/25/01/43221500/ios-18-4-preview-updates-to-siri-more-languages-for-apple-intelligence-and-robot-vacuum-support-everything-we-know-so-far">iOS 18.4 update</a>, expected in April.



This future update is anticipated to bring enhancements such as a more intelligent Siri, expanded language support for Apple Intelligence, and improved app functionalities.



Apple reported $124.3 billion in revenue for the <a href="https://in.benzinga.com/news/earnings/25/01/43355688/apple-q1-earnings-revenue-beat-eps-beat-iphone-sales-slip-installed-base-climbs-to-all-time-high-our-best-quarter-ever">fiscal first quarter</a>, surpassing analyst expectations of $124.13 billion.



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



Image via Shutterstock



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<li><a href="https://www.benzinga.com/news/25/01/42900737/stephen-king-slams-elon-musks-h-1b-visa-stance-musk-thinks-smart-immigrants-can-stay-the-rest-of-you-washing-dishes-get-lost" target="_blank" rel="noreferrer noopener">Stephen King Slams Elon Musk&#8217;s H-1B Visa Stance: ‘Musk Thinks Smart Immigrants Can Stay – The Rest of You Washing Dishes … Get Lost&#8217;</a></li>
</ul>



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

AAPL

iOS 18.3.1 Released With Critical Security Fix: Apple Confirms USB Restricted Mode Vulnerability Was Actively Exploited

The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, while the index moved to the &#8220;Neutral&#8221; zone on Monday.



U.S. stocks settled higher on Monday, with the Nasdaq Composite surging around 1% during the session as investors set aside tariff threats by President Donald Trump. Shares of chipmakers gained on Monday, with Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) adding 2.9% during the session. Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) and Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) rose 4.5% and 3.9%, respectively, during the session.



Wall Street, meanwhile, recorded losses last week as renewed fears over inflation and trade tariffs eroded risk appetite.



Shares of ON Semiconductor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) dipped over 8% on Monday after the company posted downbeat quarterly results. Shares of McDonald&#8217;s Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) gained around 5% following the release of fourth-quarter results.



On the economic data front, U.S. consumer inflation expectations for the year ahead came in steady for a third straight month at 3% in January.



Most sectors on the S&amp;P 500 closed on a positive note, with energy, information technology, and utilities stocks recording gains on Monday. However, financial and utilities stocks bucked the overall market trend, closing the session lower.



The Dow Jones closed higher by around 167 points to 44,470.41 on Monday. The S&amp;P 500 rose 0.67% to 6,066.44, while the Nasdaq Composite gained 0.98% at 19,714.27 during Monday's session.



Investors are awaiting earnings results from The Coca-Cola Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Marriott International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>), and Gilead Sciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 46.2, the index moved to the &#8220;Neutral&#8221; zone on Monday, versus a prior reading of 38.8.



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



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<li><a href="https://www.benzinga.com/25/02/43593480/wall-streets-most-accurate-analysts-give-their-take-on-3-real-estate-stocks-with-over-6-dividend-yields-2">Wall Street&#8217;s Most Accurate Analysts Give Their Take On 3 Real Estate Stocks With Over 6% Dividend Yields</a></li>
</ul>



Photo courtesy: Shutterstock

Nasdaq Gains 1% As Nvidia, Broadcom Surge: Investor Sentiment Improves, Fear & Greed Index Moves To 'Neutral' Zone

Ark Invest, led by Cathie Wood, made significant trades on Monday. Among the most prominent was the sale of shares in Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>), as the stock continued its upward trajectory following impressive financial results.



The Palantir Trade



On Monday, Ark Invest executed a notable trade involving Palantir selling 135,775 shares through its ARKK ETF. This move comes after <a href="https://www.benzinga.com/25/02/43550434/cathie-wood-dumps-10-million-palantir-shares-at-peak-sells-robinhood-and-reddit-ark-invest-loads-up-on-qualcomm-stock">Palantir&#8217;s stock reached new all-time highs</a> following its impressive <a href="https://in.benzinga.com/news/earnings/earnings-beats/25/02/43468342/palantir-rockets-on-strong-q4-2024-was-only-a-dress-rehearsal-for-ai-growth-says-analyst">fourth-quarter earnings report</a>. The company reported revenue of $827.52 million, surpassing analyst expectations of $775.91 million, and adjusted earnings of 14 cents per share, beating the forecast of 11 cents per share.



The stock closed at $116.65 on Monday, marking a 5.23% increase. The 52-week high for the stock is $116.76. In the after-hours trading, it was seen at $117.56. The sale of these shares amounted to approximately $15.83 million, based on Monday&#8217;s closing price. Despite the impressive financial results, Ark Invest has been <a href="https://www.benzinga.com/25/02/43550434/cathie-wood-dumps-10-million-palantir-shares-at-peak-sells-robinhood-and-reddit-ark-invest-loads-up-on-qualcomm-stock">strategically reducing</a> its position in Palantir.



Other Key Trades:



<ul>
<li>UiPath Inc. (PATH) &#8211; Sold 459,205 shares through ARKK and 33,061 shares through ARKW.</li>



<li>Roku Inc.(ROKU) &#8211; Sold 78,654 shares through ARKK.</li>



<li>Twist Bioscience Corp. (TWST) &#8211; Bought 268,210 shares through ARKK.</li>



<li>Illumina Inc. (ILMN) &#8211; Bought 85,621 shares through ARKK and 14,846 shares through ARKG.</li>
</ul>



Image via Shutterstock



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<li><a href="https://in.benzinga.com/markets/equities/25/02/43613133/trumps-25-tarrifs-a-self-inflicted-wound-says-economist-amid-warnings-of-fewer-american-jobs-peter-schiff-says-youll-pay-more-for-cars-and-homes">Trump&#8217;s 25% Tarrifs A &#8216;Self-Inflicted Wound,&#8217; Says Economist Amid Warnings Of Fewer American Jobs — Peter Schiff Says You&#8217;ll Pay More For Cars And Homes</a></li>
</ul>



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>

ETFs

ILMN

PATH

PLTR

ROKU

TWST

Cathie Wood Dumps $16 Million Worth Of Palantir Stock After Record Highs

Editor&#8217;s Note: A typographical error in the headline of this story has been corrected.



Leading cryptocurrencies mirrored stock gains on Monday, as investors set aside tariff threats by President Donald Trump.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:30 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+1.77%</td><td>$98,005.07</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>+3.22%</td><td>$2,702.25</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+3.48%</td><td>$0.2574</td></tr></tbody></table></figure>



What Happened: Bitcoin rose to an intraday high of $98,333, as the leading cryptocurrency looked to recapture levels above $100,000 lost during the <a href="https://www.benzinga.com/25/02/43425613/bitcoin-crashes-below-92000-ethereum-dogecoin-slump-as-trumps-tariff-war-spooks-investors-analyst">&#8216;Black Sunday&#8217; crash.</a>



Ethereum broke above $2,700 after stagnating in the $2,600 zone over the weekend.



Cryptocurrency liquidations reached $146 million over the last 24 hours, with short liquidations outnumbering longs.



About $500 million in short positions further risked liquidations if Bitcoin reclaims $101,500.&nbsp;



Bitcoin's Open Interest rose by 3.46% in the last 24 hours, with more than 53% of BTC futures traders going long on the apex digital asset.



Market sentiment flipped into the "Neutral" zone from "Fear," according to the Crypto Fear &amp; Greed Index, indicating a market balance.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:30 p.m. ET)</td></tr><tr><td>Raydium (RAY)</td><td>+16.82%</td><td>$5.50</td></tr><tr><td>Helium (HNT)</td><td>+12.95%</td><td>$3.86</td></tr><tr><td>Virtuals Protocol (VIRTUALS)</td><td>+12.36%</td><td>$1.27</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.21 trillion, increasing by 2.07% in the last 24 hours.



Stocks edged higher on Monday. The Dow Jones Industrial Average rose 167.01 points, or 0.38%, to close at 44,470.41. The S&amp;P 500 gained 0.67%, ending at 6,066.44, while the tech-focused Nasdaq Composite lifted 0.98% to close at 19,714.27.



Trump <a href="https://in.benzinga.com/markets/equities/25/02/43583123/trump-to-announce-25-steel-and-aluminum-tariffs-economist-warns-president-is-making-us-manufacturing-globally-uncompetitive">announced plans</a> to impose a 25% tariff on all steel and aluminum imports, reigniting trade tensions



Investors awaited key macroeconomic data this week, including the consumer price index report slated for Wednesday and the producer price index on Thursday. Additionally, Federal Reserve Chair Jerome Powell will testify to Congress about the state of the economy and inflation.



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



Analyst Notes: Popular blockchain analytics firm Santiment noted a shift in trader attention from meme coins to Bitcoin and Layer-1 assets, reflecting a more stable and sustainable market environment



"Collectively, the top Layer-1 assets are getting 44.2% of discussions among specific coins," Santiment said. "When traders pivot back to assets with strong utility and established market positions, it suggests a healthier market cycle."



<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">&#x1f600; The crypto community has largely shifted their attention to Bitcoin and other Layer 1 assets like Ethereum, Solana, Toncoin, and Cardano. Collectively, the top Layer 1 assets are getting 44.2% of discussions among specific coins. Meanwhile, top meme coins like Dogecoin, Shiba… <a href="https://t.co/PpBjD9vSi4">pic.twitter.com/PpBjD9vSi4</a>&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1889065568101413148?ref_src=twsrc%5Etfw">February 10, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Popular cryptocurrency analyst and trader Rekt Capital highlighted Bitcoin's successful post-breakout retest.



"Price is performing the key technical steps to fully confirm the bull flag breakout so as to set itself up for trend continuation going forward. $96,700 needs to hold," the analyst 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"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> The Bitcoin post-breakout retest of the Monthly Bull Flag is successful thus far Price is performing the key technical steps to fully confirm the Bull Flag breakout so as to set itself up for trend continuation going forward ~$96700 needs to hold<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/HXEsC7kN3p">https://t.co/HXEsC7kN3p</a> <a href="https://t.co/MYI2LW3Qtf">pic.twitter.com/MYI2LW3Qtf</a>&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1889030089704165479?ref_src=twsrc%5Etfw">February 10, 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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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43613058/cathie-wood-says-doge-lead-elon-musks-plan-of-putting-the-treasury-on-blockchain-a-win-win-win-transparency-efficiency-security">Cathie Wood Says DOGE-Lead Elon Musk&#8217;s Plan Of Putting The Treasury On Blockchain A &#8216;Win, Win, Win&#8217; — &#8216;Transparency, Efficiency, Security&#8217;</a></li>
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Cryptocurrency

$BTC

$DOGE

$ETH

Bitcoin, Ethereum, Dogecoin Rise As Investors Shrug Off Trump's Tariff Order: Analyst Sees 'Healthier Market Cycle' As Trader Interest Shifts From Meme Coins To BTC (CORRECTED)

A group of investors led by the world's richest person Elon Musk has made a $97.4-billion offer to acquire control of OpenAI, the nonprofit AI giant Musk once co-founded.



What Happened: Musk, who has sued OpenAI as the company attempts to transition to a for-profit structure, previously founded the company with Sam Altman, Greg Brockman and several other individuals.



Musk put in capital to the company before leaving in 2018 over a disagreement regarding its direction. 



The Wall Street Journal <a href="https://www.wsj.com/tech/elon-musk-openai-bid-4af12827?mod=latest_headlines">reports </a>Monday that Musk is leading a group bidding $97.4-billion to take control of the nonprofit that controls OpenAI.



"It's time for OpenAI to return to the open-source, safety-focused force for good it once was," Musk said in a statement provided by his attorney Marc Toberoff. &#8220;We will make sure that happens."



Toberoff told the Wall Street Journal the bid for the nonprofit that controls OpenAI was submitted to OpenAI's board of directors Monday.



After Musk left, the company created a for-profit subsidiary that helped the company raise money from other investors including Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>).



Altman is pushing to make OpenAI a for-profit company, which could give him an opportunity for an equity stake in the company and increase his wealth.



Among the investors in the bid for OpenAI control include Musk's AI company xAI, Valor Equity Partners, Vy Capital, 8VC, Baron Capital and Atreides Management.



Altman appeared to dismiss the buyout offer in a tweet Monday. 



&#8220;No thank you but we will buy twitter for $9.74 billion if you want,&#8221; Altman <a href="https://x.com/sama/status/1889059531625464090">tweeted</a>. 



Read Also: <a href="https://www.benzinga.com/24/11/42022920/sam-altman-slams-elon-musks-left-wing-bias-claims-over-chatgpt-responds-to-grok-vs-gpt-debate-with-bold-remarks-but-tesla-ceo-says-swindly-sam-is-at-it-again">OpenAI Co-Founders, Now Rivals Sam Altman And Elon Musk Clash Over ChatGPT And xAI&#8217;s Grok Chatbots Again</a>



Why It's Important: News of the bid has raised questions to what this could mean for Altman's push for a for-profit company and whether xAI and OpenAI could be combined if the bid goes through.



Toberoff said Musk and the investor group are prepared to match higher bids in the process to value the nonprofit company.



"If Sam Altman and the present OpenAI Inc. Board of Directors are intent on becoming a fully for-profit corporation, it is vital that the charity be fairly compensated for what its leadership is taking away from it: control over the most transformative technology of our time," Toberoff said.



Musk and Altman have battled publicly in recent months. Musk recently said Altman and other investors in Project Stargate didn't have the funds for their announced venture.



OpenAI was<a href="https://www.benzinga.com/news/24/10/41149788/openai-valuation-soars-to-157b-in-latest-funding-round"> valued at $157 billion </a>in a funding round in October 2024. A recent report said OpenAI was also considering a funding round that could value the company at $300 billion.



Musk's xAI <a href="https://www.benzinga.com/24/11/42022077/elon-musks-xai-seeks-6b-at-50b-valuation-to-acquire-100k-nvidia-chips-for-memphis-data-center">was valued at </a>$50 billion in November 2024.



Musk is the world's richest person, with wealth of $402 billion, according to <a href="https://www.bloomberg.com/billionaires/">Bloomberg</a>. It is unknown how much of his personal fortune Musk put into the bid and what the source of his funds were. Musk previously sold a portion of his Tesla shares to help fund his $44-billion acquisition of Twitter in 2022.



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Elon Musk and Sam Altman photos via Shutterstock.

Elon Musk Co-Founded OpenAI, Now He's Bidding $97.4B To Take Back The Company

Investors are recalibrating their expectations for Federal Reserve rate cuts after an unexpected <a href="https://www.benzinga.com/topic/inflation">surge in consumer inflation</a>.



Fed futures now reflect just 36 basis points of cumulative rate cuts by year-end. This implies only a 50% probability of two reductions, according to CME FedWatch tool.



Markets increasingly see just one rate cut as the most likely scenario, versus the two-cut path indicated in December.



Betting odds tracked by the CFTC-regulated Kalshi currently assign a 25% probability to two rate cuts. The chances of one cut or no cut at all stand at 22% and 17%, respectively.



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



<h3 class="wp-block-heading">Inflation Concerns Resurface</h3>



The University of Michigan&#8217;s latest consumer sentiment survey triggered fresh alarm, showing a sharp jump in inflation expectations that surprised analysts. 



The one-year inflation expectation surged to 4.3%, rising one full percentage point from last month and reaching its highest level since November 2023.



&#8220;Many consumers seem concerned that high inflation will return within the next year,&#8221; the University of Michigan stated in its report.



President Donald Trump pledged to raise tariffs on major U.S. trading partners, on top of a 25% tariff on aluminum and steel imports.



The U.S. five-year breakeven inflation rate—a key gauge of market-based expected inflation—rose to 2.59% on Monday. That&#8217;s up from 1.89% in September 2024, according to TradingView data.



This suggests investors anticipate inflation to average well above the Fed's 2% target over the next five years.



&#8220;Given the considerable policy uncertainty caused by the return of global trade protectionism and the return of mercantilism among the G-7 nations, it is not certain that inflation expectations will remain well anchored,&#8221; said Joseph Brusuelas, economist at RSM US LLP. 



&#8220;The sudden jump in inflation expectations isn't a coincidence. Trump&#8217;s tariff threats toward Canada, Mexico, China, and the EU are fueling inflation concerns. Despite stocks holding near record highs, gold is rallying, and TIPS have outperformed Treasuries for the past month—clear signs that investors are positioning for inflation,&#8221; said analyst Michael Gayed, CFA.



Nonfarm payrolls rose by 143,000 in January, slightly below consensus due to weather disruptions, but revisions from previous months added 100,000 jobs. The unemployment rate unexpectedly dropped to 4.1%, while wage growth accelerated.



&#8220;The labor market appears to have stabilized around full employment, reinforcing our view that the Fed's rate-cutting cycle is over,&#8221; said Bank of America economist Aditya Bhave.



Goldman Sachs economists echoed this sentiment. Markets still underprice the inflationary impact of tariffs, indicating that investors may not be fully accounting for persistent price pressures in their rate forecasts.



&#8220;Friday's jobs report reinforced the argument that economy is in a place that can allow the Fed to be patient until it has better confidence in underlying disinflation and better clarity into (trade and fiscal) policy outcomes,&#8221; wrote Goldman Sachs economists.



Inflation hedges have delivered strong gains over the past month. The iShares TIPS Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TIP#NYSE">TIP</a>) is up nearly 3%; the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) has surged 9%.



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Image: Shutterstock

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