Leading cryptocurrencies dipped on Sunday as investors reduced their risk-taking appetite amid the Federal Reserve's cautious stance on rate cuts.



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 7:45 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>-0.76%</td><td>$90,085.28</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>-0.88%</td><td>$3,119.31</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>-1.12%</td><td>$0.3621</td></tr></tbody></table></figure>



What Happened: Bitcoin rose above $91,000 early morning hours but lost steam and retreated below $89,000 by evening. Dip-buying eventually boosted it over $90,000.



Ethereum followed a similar trajectory, plummeting to $3,040 from an intraday high of $3,160, only to recover to $3,110 overnight.



Total cryptocurrency liquidations hit $373 million in the last 24 hours, with bullish leveraged positions losing over $258 million.



The Open Interest (OI) in Bitcoin futures rose 0.78% in the last 24 hours.



Bitcoin's funding rates across major cryptocurrency exchanges continued to be positive, indicating dominance of longs.



The "Extreme Greed" sentiment weakened sharply from 90 to 83 due to the corrective action, reading from the Cryptocurrency Fear and Greed Index showed.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 7:45 p.m. ET)</td></tr><tr><td>MANTRA (OM)</td><td>+50.55%</td><td>$4.13</td></tr><tr><td>Raydium (RAY)</td><td>+19.43%</td><td>$5.83</td></tr><tr><td>Peanut the Squirrel (PNUT)</td><td>+12.22%</td><td>$1.88</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.01 trillion, declining 1.25% in the last 24 hours.



Stock futures edged marginally higher Sunday night. The Dow Jones Industrial Average Futures rose 10 points, or 0.02%, as of 7:45 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 gained 0.20%, while Nasdaq 100 Futures added 0.47%.



The three benchmark averages witnessed sell-offs last week after the Fed's Jerome Powell's <a href="https://www.benzinga.com/news/treasuries/24/11/41993899/powells-hawkish-remarks-shake-markets-stocks-fall-dollar-rockets-bitcoin-dips">hawkish tone</a> cast doubts about December's interest rate cuts.



Investors <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">priced </a>in a 62% chance of a 25 basis-point cut as per the CME FedWatch tool, down from 64.6% a week before.



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



Analyst Notes: Popular cryptocurrency analyst Ali Martinez stated that a daily close for Bitcoin above $91,000 would negate his previous bearish prediction and propel the cryptocurrency to $100,680.



<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">Finally, I believe a sustained daily close above $91,900 will invalidate this bearish <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> outlook and trigger a breakout to $100,680! <a href="https://t.co/eau2mCe0wY">https://t.co/eau2mCe0wY</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1858234742224937337?ref_src=twsrc%5Etfw">November 17, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



In the case of Bitcoin retrace, Martinez flagged $85,800 &#8211; $83,250 and $75,520 &#8211; $72,880 as important support levels to keep track of.



<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">In the event of a <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> price correction, the key support walls to watch are $85,800 &#8211; $83,250 as well as $75,520 &#8211; $72,880. <a href="https://t.co/j0rTqnKLqT">https://t.co/j0rTqnKLqT</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1858234736910684601?ref_src=twsrc%5Etfw">November 17, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Michaël van de Poppe, another widely-followed cryptocurrency researcher, said he was buying Bitcoin and Ethereum dips amid growing volatility.



"Expect that we&#8217;ll see $100K per Bitcoin before 1st of January 2025," he added.



<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">Outside of my <a href="https://twitter.com/hashtag/Altcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoin</a> portfolio, it&#39;s time to be trading actively again. The volatility is going up on everything. Buying the dips on <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> &amp; <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>. Expect that we&#39;ll see $100K per Bitcoin before 1st of January 2025.&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1858235515029291124?ref_src=twsrc%5Etfw">November 17, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo by Igor Faun on Shutterstock



Read Next:    



<ul>
<li><a href="https://www.benzinga.com/news/24/11/42027165/musks-doge-role-boosts-dogecoin-as-brian-armstrong-shows-support">Musk&#8217;s DOGE Role Boosts Dogecoin As Brian Armstrong Shows Support</a></li>
</ul>

Cryptocurrency

News

Markets

Movers

Trading Ideas

$BTC

$DOGE

$ETH

Bitcoin, Ethereum, Dogecoin Slip As Fed's Hawkish Stance Tempers Rally: Analyst Expects BTC To Reach $100K Before New Year

The Future Fund LLC, Managing Partner Gary Black pushed back against accusations of short-term trading, clarifying his firm's Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) investment approach focuses on <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41870590/tesla-remains-core-for-gary-black-despite-price-cuts-earnings-drop-nvidia-google-eli-lilly-among-top-performers-in-tech-bulls-portfolio">strategic position adjustment rather than active trading</a>.



What Happened: Black revealed that The Future Fund&#8217;s average Tesla stock purchase price since early 2023 has been $162, while their average selling price has been $252. This disclosure came amid debate over the fund&#8217;s trading practices on social media platform X.



&#8220;We don&#8217;t trade Tesla,&#8221; Black stated. &#8220;We trim when Tesla&#8217;s price goes higher, which causes upside/downside to decline. We tend to buy more when Tesla&#8217;s price falls.&#8221;



The investment veteran expressed concern about growing polarization within the Tesla investor community, noting that moderate voices are being pushed out by extreme positions. Black highlighted recent instances where well-known Tesla bulls faced criticism for discussing potential short-term risks, even while maintaining overall positive outlooks.



&#8220;The community has lost some great Tesla longs as spokespeople and is in danger of losing still more because the cult is prone to attack anyone who is not over the top bullish,&#8221; Black wrote.



<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">We don't trade <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a>. As with all stocks in our portfolio, we trim when TSLA's price goes higher, which ceteris paribus causes TSLA upside/downside to decline. We tend to buy more as we did in early 2023 when TSLA's price falls. Since the beginning of 2023, our avg TSLA buy… <a href="https://t.co/vcByxTJNzh">https://t.co/vcByxTJNzh</a>&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1858271575235047804?ref_src=twsrc%5Etfw">November 17, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Of particular concern to Black is the potential loss of the $7,500 federal EV tax credit, which he argues could significantly impact Tesla&#8217;s business. With electric vehicles comprising approximately 80% of Tesla&#8217;s revenue, the company faces greater exposure to EV market dynamics compared to traditional automakers.



See Also: <a href="https://www.benzinga.com/startups/24/11/42026926/bitcoin-hits-an-all-time-high-but-nvidia-has-outperformed-it-dramatically-over-the-last-five-years">Bitcoin Hits An All-Time High, But Nvidia Has Outperformed It Dramatically Over The Last Five Years</a>



Why It Matters: The Future Fund has maintained Tesla as a significant holding since its 2021 launch, though the position has been adjusted from 12.2% in October 2022 to 4.6% as of November 2023. These adjustments reflect Black&#8217;s disciplined investment approach and response to changing market conditions.



Tesla&#8217;s stock has shown significant volatility over the past year, trading between a low of $138.80 and a high of $358.64, according to market data. Black&#8217;s fund recently trimmed positions at $351 after the stock rose 150% from its April bottom.



&#8220;As disciplined growth investors, we have to like Tesla less at $350 than we did at $140 since the relative upside/downside is less favorable,&#8221; Black explained.



The veteran investor emphasized that maintaining a balanced perspective, including acknowledging both bullish and bearish cases, has been key to his credibility in financial media appearances.



Price Action: Tesla stock closed at $320.72 on Friday, gaining 3.07% for the day. In after-hours trading, the stock edged up 0.0062%. Year to date, Tesla&#8217;s stock has risen by 29.10%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.



Read Next: 



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<li><a href="https://www.benzinga.com/general/social-media/24/11/42022443/ibm-disney-and-other-large-advertisers-return-to-elon-musks-x-after-a-year-long-boycott-we-super-appreciate">IBM, Disney And Other Large Advertisers Return To Elon Musk&#8217;s X After A Year-Long Boycott: &#8216;We Super Appreciate&#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.

Emerging Markets

Global

TSLA

Gary Black Defends Tesla Strategy Amid Clash With Elon Musk Bulls: 'We Don't Trade Tesla... We Trim When The Price Goes Higher'

Nvidia Corporation&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) new Blackwell AI chips are reportedly grappling with overheating issues. 



What Happened: Nvidia&#8217;s Blackwell AI chips are experiencing overheating problems when connected to server racks designed to hold up to 72 chips, <a href="https://www.theinformation.com/articles/nvidia-customers-worry-about-snag-with-new-ai-chip-servers">reported</a> The Information, citing Nvidia employees working on the problem and customers and suppliers familiar with the situation.



The chipmaker has reportedly requested its suppliers to modify the rack design multiple times to address the overheating issue. 



See Also: <a href="https://www.benzinga.com/general/social-media/24/11/42022443/ibm-disney-and-other-large-advertisers-return-to-elon-musks-x-after-a-year-long-boycott-we-super-appreciate?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">IBM, Disney And Other Large Advertisers Return To Elon Musk&#8217;s X After A Year-Long Boycott: &#8216;We Super Appreciate&#8217;</a>



A Nvidia spokesperson told Reuters, &#8220;Nvidia is working with leading cloud service providers as an integral part of our engineering team and process. The engineering iterations are normal and expected.&#8221;



Nvidia did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga&#8217;s</a> request for comments.



The Blackwell chips, unveiled by Nvidia in March, were initially slated to ship in the second quarter.



However, they faced delays, potentially affecting customers such as Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google and Elon Musk&#8217;s xAI.



Why It Matters: The Blackwell chip combines two silicon squares into a single component. It is touted to be 30 times faster at tasks like responding to chatbot queries than the company&#8217;s previous offering.



The <a href="https://www.benzinga.com/news/24/10/41156900/nvidia-ceo-jensen-huang-says-demand-for-next-gen-blackwell-gpu-platform-insane-everyone-wants-to-hav">demand for the Blackwell GPU</a> platform was described as &#8220;insane&#8221; by Nvidia CEO Jensen Huang last month.



Nvidia&#8217;s Blackwell chip revenue was projected to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41883803/nvidias-blackwell-chip-revenue-could-hit-6-billion-next-quarter-analyst">hit $6 billion in the next quarter</a>, according to a Morgan Stanley analyst. This projection was made despite Nvidia being fully supply-constrained on new products.



Earlier this month, <a href="https://www.benzinga.com/news/large-cap/24/11/41761849/nvidia-blows-past-apple-to-become-worlds-most-valuable-company">Nvidia surpassed Apple</a> to become the world&#8217;s most valuable company, largely due to its dominance in the artificial intelligence chip market. The AI giant&#8217;s current market capitalization stands at $3.482 trillion.



Price Action: Nvidia shares closed Friday&#8217;s trading session with a 3.26% decline, settling at $141.98. In after-hours trading, the stock saw a slight uptick, reaching $142.70 at the time of writing, according to <a href="https://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.



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<li><a href="https://www.benzinga.com/24/11/42022124/t-mobile-hit-by-chinese-hackers-after-rivals-att-verizon-suffer-breach-report?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">T-Mobile Hit By Chinese Hackers After Rivals AT&amp;T, Verizon Suffer Breach: Report</a></li>
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

GOOG

GOOGL

MSFT

NVDA

Nvidia's Blackwell Chips Are Extra Toasty, Server Overheating Issues Impact Meta, Microsoft And Elon Musk's xAI

Elon Musk has expressed gratitude as major brands, including IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>), Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>), Comcast (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>), and Warner Bros.&nbsp;Discovery (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>), resumed advertising on X, formerly Twitter.



What Happened: On Friday, Musk took to X and expressed his appreciation to companies for recommencing advertising on X following a <a href="https://www.benzinga.com/news/23/12/36056462/elon-musks-standoff-with-apple-disney-and-other-big-advertisers-forces-x-to-turn-to-smaller-ones">year-long boycott due to brand safety concerns</a>.



This information was shared by social media personality Mario Nawfal on X.



Musk responded to Nawfal's post,&nbsp;saying,&nbsp;&#8220;Just want to say that&nbsp;we super appreciate&nbsp;major brands resuming advertising on&nbsp;our platform!&#8221;



See Also:&nbsp;<a href="https://www.benzinga.com/24/11/41872302/taylor-swift-fans-abandon-elon-musks-x-for-bluesky-how-trumps-election-victory-triggered-swifties-uprising?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Taylor Swift Fans Abandon Elon Musk&#8217;s X For Bluesky, Says Report: How Trump&#8217;s Election Victory Triggered Swifties Uprising</a>



He also expressed&nbsp;his gratitude to&nbsp;X CEO Linda Yaccarino and&nbsp;the entire X team&nbsp;for restoring&nbsp;advertisers&#8217; confidence.



<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">Just want to say that we super appreciate major brands resuming advertising on our platform! Thanks <a href="https://twitter.com/lindayaX?ref_src=twsrc%5Etfw">@lindayaX</a> and the whole &#120143; team for your hard work in restoring confidence in our platform and ensuring that advertising content only appears where advertisers want it shown. <a href="https://t.co/e508KrMo9g">https://t.co/e508KrMo9g</a>&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1857471850676367646?ref_src=twsrc%5Etfw">November 15, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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: In September, it was reported that more companies were <a href="https://www.benzinga.com/news/24/09/40762349/x-faces-major-advertiser-exodus-amid-string-of-elon-musk-controversies">considering pulling ads from X</a> next year due to concerns that their <a href="https://www.benzinga.com/news/23/11/35842015/ibm-pulls-adverts-from-elon-musks-x-following-antisemitic-content-allegations">brands could be harmed by the platform&#8217;s content</a>.



A Kantar survey also&nbsp;revealed that 26% more marketers&nbsp;plan to decrease their spending&nbsp;on X ads in 2025,&nbsp;marking the largest recorded decline&nbsp;in ad spending for any major global platform.



However, following the U.S. 2024 Presidential election, it was reported that some advertisers are contemplating a return to X to gain favor with Musk and President-Elect Donald Trump.



This development also comes as&nbsp;Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) <a href="https://www.benzinga.com/general/social-media/24/11/41963996/mark-zuckerbergs-meta-eyes-2025-to-introduce-ads-on-threads-as-elon-musks-x-loses-favor-with-major-brands-report">plans to introduce ads</a> on its Threads early next year, potentially capitalizing on X&#8217;s loss of favor with major brands.



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



Read Next:



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<li><a href="https://www.benzinga.com/tech/24/11/41927135/greg-brockman-returns-to-work-at-chatgpts-parent-company-back-to-building-openai?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Greg Brockman Returns To Work At ChatGPT&#8217;s Parent Company: &#8216;Back To Building OpenAI&#8217;</a></li>
</ul>



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



Photo courtesy: Shutterstock

Social Media

Tech

CMCSA

IBM, Disney And Other Large Advertisers Return To Elon Musk's X After A Year-Long Boycott: 'We Super Appreciate'

The cryptocurrency market has undergone a remarkable transformation, evolving from a volatile asset favoured by retail traders into a more established space that is increasingly attracting institutional investors. Strengthened market infrastructure and a shifting regulatory environment have encouraged traditional financial institutions to explore the potential of digital assets.



In an exclusive interview with Benzinga, EMURGO's COO Nikhil Joshi talks about the company's blockchain innovation and transformation strategy, how it is handling rapidly changing regulatory environment, challenges faced by the global crypto market and much more.



EMURGO, a global blockchain technology company, is one of the founding entities of the Cardano blockchain. It delivers products and services aimed at advancing the adoption of Cardano's Web3 ecosystem through initiatives in education, investment, and infrastructure development.



How is EMURGO innovating in Web3, and what impact will it have on traditional finance and global financial systems?



As a founding entity of the Cardano network, EMURGO is pioneering Web3 innovations through its suite of products and partnerships aimed at accelerating the commercial adoption of blockchain. Since our inception in 2019, we have developed and advanced solutions in fintech and cemented strategic collaborations to bridge the gap between decentralised technologies and mainstream financial systems. Today, as the tokenisation of real-world assets gains traction and is slated to redefine the traditional financial ecosystem, EMURGO has emerged as a catalyst for Web3 solutions, steering education and adoption for the burgeoning sector.



As advocates for Web3, EMURGO has also been working closely with the public sector to drive positive development for the blockchain industry. Through concerted efforts, we have been embedding trust and transparency with policymakers, forging opportunities that reduce counterparty risks, streamline regulatory compliance, and pave the way for a more inclusive financial ecosystem.



Can you explain how EMURGO&#8217;s collaboration with Huawei Cloud is helping to scale Web3 solutions across the Asia Pacific region and beyond?



Our partnership with Huawei Cloud is a significant milestone for EMURGO and the Cardano ecosystem. As one of the world's largest cloud computing companies, Huawei Cloud&#8217;s entry into the Cardano ecosystem will bring Huawei's cloud infrastructure into Cardano's open-source public blockchain ecosystem, driving growth and Web3 adoption in APAC and Africa. At the same time, the joint partnership will lower the entry barriers for non-native players to utilise Cardano nodes and set up tech infrastructure to easily build solutions on the Cardano network.



What are EMURGO's key strategies for navigating the rapidly changing regulatory environment in Asia, and how will this affect the future of Web3 adoption?



The future of Web3 adoption in Asia hinges on the balance between innovation and regulation. Already, Asia Pacific nations are taking the lead in crypto adoption worldwide, and we've seen how jurisdictions from Singapore to Hong Kong are implementing regulatory clarity to better shape the emerging digital asset sector.



As a member of the Web3 Subcommittee of the Singapore Fintech Association, for example, EMURGO actively supports the mission to create and sustain a responsible and innovative Web3 ecosystem in Singapore and the region. This includes fostering a framework focused on innovation, consumer protection, financial education, and market integrity, which are crucial to guiding sustainable Web3 growth. Seeing the value of both sides of the coin, EMURGO's strategies have been shaped to foster dialogue and compliance within the Web3 sector, encouraging an optimal environment for innovation to thrive.



How does EMURGO integrate Web3 technology within existing Web2 frameworks, and what challenges have been encountered during this transition?



To us at EMURGO, the shift from Web2 to Web3 is not about abandoning the old for the new. Because our company's background is blended, with a few of us coming from more traditional backgrounds, we see value in melding the two worlds to complement both Web2 and Web3 ecosystems. Since our founding, we have been actively pushing for interoperability — creating tools that allow Web2 platforms to communicate better with blockchain networks. This helps traditional companies dip their toes into Web3 by incorporating features like tokenisation or decentralised identity without needing to start from scratch.



Traditional Web2 systems are built to handle millions of transactions quickly, while many newer blockchain networks face a combination of challenges due to its decentralised nature — its consensus mechanisms and the trade-offs it requires to maintain security across its decentralised network. EMURGO's role is essential here, as we invest in and support solutions that drive opportunities to integrate blockchain more efficiently, paving the way for seamless interoperability between Web2 and Web3.



What upcoming initiatives does EMURGO have planned to ensure a strong, sustainable future for the Web3 ecosystem?



Earlier in September EMURGO partnered with Ibex, the corporate innovation arm of Antler, one of the world's most active early-stage investors. The collaboration will leverage EMURGO's deep expertise and Antler's expansive global network to drive innovation at the intersection of fintech and Web3 technologies. This is the first announced partnership in a pipeline of upcoming collaborations that EMURGO will announce in due time that will focus on identifying, investing, and driving the growth of global founders and startup projects across the world.



What are the biggest challenges facing the global crypto market today, and how are these affecting the growth and adoption of blockchain technology? 



Despite crypto's growing mainstream and institutional acceptance, many still view the sector with apprehension and caution. Its reputation as a vehicle for illicit activities continues to undermine its critical use case in the future of finance. While, of course, blockchain does not equate to crypto, the technology&#8217;s interconnectivity with digital currency has become so synonymous that blockchain has faced the unintended consequences of crypto's volatility.



What we need today is more concerted efforts to educate and inform, ensuring that ignorance doesn't become a barrier to the adoption of innovative technologies and new currencies. In doing so, we can strengthen the financial ecosystem at large, ensuring the longevity of the blockchain and crypto sectors.



How are regulatory pressures and market volatility shaping the current and future landscape of the crypto industry worldwide? 



As the digital assets sector is still in its nascent stage, regulators are often playing catch up to understand how best to set guardrails to protect consumers and companies alike. In doing so, they tend to apply existing policies and approaches to the entirely new ecosystem which often run counter to the nature of Web3, resulting in ill-fitting solutions to emerging challenges. &nbsp;While regulations to shield users without impeding DeFi innovation still need to be developed, we're seeing encouraging signs of policies and initiatives that are accelerating the acceptance and adoption of crypto. Singapore, for example, is one such lighthouse jurisdiction that continues to play a leading role in the safe adoption of digital assets through regulatory clarity and oversight for digital asset exchanges and service providers.



Cross-industry collaboration is critical to developing a deeper understanding of blockchain technology and advancing the ecosystem's maturity. At EMURGO, we are committed to continuing our work with policymakers and industry stakeholders around the globe, helping unlock blockchain's full potential. Together, we aim to drive innovation, enhance security, and create more efficient, transparent systems for everyone.

Interview

EMURGO's Nikhil Joshi: Cross-Industry Collaboration Critical For Developing A Deeper Understanding Of Blockchain Tech

The past week has been a whirlwind of economic predictions and policy speculations, largely centered around President-elect Donald Trump&#8217;s potential second term. From Cathie Wood&#8217;s optimistic outlook to concerns about inflation and a bold S&amp;P 500 prediction, here&#8217;s a recap of the top stories.



Cathie Wood&#8217;s Reagan-Era Economic Boom Prediction



Cathie Wood, CEO of ARK Investment Management LLC, has drawn parallels between Trump&#8217;s potential second term and the economic transformation during former President Ronald Reagan&#8217;s administration in the 1980s. Wood believes that Trump&#8217;s anticipated policies, including deregulation and tax cuts, could trigger significant economic growth.



<a href="https://www.benzinga.com/markets/24/11/41872279/cathie-wood-predicts-trumps-white-house-return-will-ignite-reagan-era-economic-boom-through-deregulation-and-tax-cuts-likely-to-turbocharge-the-us-economy">Read the full article here.</a>



Trump&#8217;s Policies Could Trigger Inflation



Despite Trump&#8217;s promises to lower prices for American consumers, economic experts warn that his proposed policies could trigger higher inflation. Key proposals raising concerns include a universal tariff of up to 20% on imports, mass deportation of undocumented immigrants, and tax cuts. Major retailers have already expressed concerns about potential price impacts.



<a href="https://www.benzinga.com/news/24/11/41871407/trumps-tariffs-deportations-and-tax-cuts-may-push-prices-higher-experts-say-its-pretty-clear">Read the full article here.</a>



See Also:&nbsp;<a href="https://www.benzinga.com/news/earnings/24/11/41966815/us-futures-marginally-up-as-investors-process-inflation-data-ahead-of-jerome-powells-speech-on-economy-expert-says-fed-should-continue-recalibrating-to-neutral-on-softer-in?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">US Futures Marginally Up As Investors Process Inflation Data Ahead Of Jerome Powell&#8217;s Speech On Economy: Expert Says Fed Should &#8216;Continue Recalibrating To Neutral&#8217; On Softer Inflation</a>



Trump&#8217;s DOGE Plan: Risks and Opportunities



Trump&#8217;s proposed Department of Government Efficiency (DOGE), led by Elon Musk and Vivek Ramaswamy, is raising questions about the future of U.S. defense contractors and government IT firms. The plan to restructure federal agencies and reduce wasteful spending could potentially impact these sectors.&nbsp;



<a href="https://www.benzinga.com/government/regulations/24/11/42013424/trumps-musk-ramaswamy-doge-plan-what-it-means-for-defense-and-it-stocks">Read the full article here.</a>



Producer Inflation Rises More Than Expected



October&#8217;s producer inflation came in slightly higher than anticipated, casting doubts on whether the U.S. economy&#8217;s broader disinflationary trend will hold through the year's final quarter. The Producer Price Index (PPI) surged to 2.4% last month, marking the first increase in the annual PPI inflation rate after three straight months of declines.



<a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41971830/producer-inflation-rises-more-than-expected-in-october-should-traders-rethink-interest-rate-cut-path">Read the full article here.</a>



S&amp;P 500 to Hit 10,000 by 2029?



Veteran Wall Street strategist Ed Yardeni has made a bold prediction that the S&amp;P 500 index will soar to 10,000 by the end of the decade. Yardeni believes that Trump&#8217;s return to the White House, alongside a likely Republican-controlled Congress, will bring in a major regime shift that&#8217;s positive for U.S. stocks, the economy, and corporate profits.



<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41917731/wall-street-veteran-predicts-sp-500-to-hit-10000-by-2029-roaring-2020s">Read the full article here.</a>



Read Next:



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<li><a href="https://www.benzinga.com/news/treasuries/24/11/41993899/powells-hawkish-remarks-shake-markets-stocks-fall-dollar-rockets-bitcoin-dips?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Powell&#8217;s Hawkish Remarks Shake Markets: Stocks Fall, Dollar Rockets, Bitcoin Dips</a></li>
</ul>



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

Economics

Media

Trump's Return, Inflation Fears, And A Bold S&P 500 Prediction: This Week In Economics

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.



The major indexes, which had been climbing following Trump&#8217;s election victory, lost momentum this week, with the S&amp;P 500 down 2.1%, the Nasdaq dropping 3.2%, and the Dow shedding 1.2%. 



October consumer inflation matched expectations, but producer inflation exceeded forecasts, sparking concerns about the sustainability of disinflation as the year closes. 



Investor sentiment weakened further after Federal Reserve Chair Jerome Powell made unexpectedly hawkish comments, emphasizing the Fed&#8217;s cautious approach and lack of urgency to reduce interest rates. As a result, market expectations for a December rate cut have significantly decreased, leaving traders uncertain <a href="https://www.benzinga.com/etfs/24/11/42018463/trumps-post-election-rally-fades-dollar-surges-to-over-1-year-highs-powell-puts-december-interest-rate-cut-into-question-this-week-in-the-market">about the Fed's next steps.</a>



Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.



<h3 class="wp-block-heading">The Bulls</h3>



&#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41988194/trump-plans-to-erase-ev-tax-credit-analyst-says-its-net-bullish-calls-sell-off-wrong-knee-jerk-reaction">Trump Plans To Erase EV Tax Credit: Tesla Analyst Says It&#8217;s &#8216;Net Bullish,&#8217; Calls Sell-Off &#8216;Wrong Knee-Jerk Reaction&#8217;</a>,&#8221; by <a href="https://www.benzinga.com/author/adam-eckert">Adam Eckert</a>, discusses Donald Trump&#8217;s plan to end the $7,500 EV tax credit, which initially caused a sell-off in Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares. However, Wedbush analyst Dan Ives sees it as a &#8220;net bullish&#8221; move for Tesla long-term, with minimal impact due to the company's strong market position.



&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41897397/bitcoin-to-peak-between-100k-150k-solana-to-top-600-this-cycle-say-hedge-funds-vcs">Bitcoin To Peak Between $100K-150K, Solana To Top $600 This Cycle, Say Hedge Funds, VCs</a>,&#8221; by <a href="https://www.benzinga.com/author/aniket-verma">Aniket Verma</a> reveals predictions from venture capital and hedge fund managers that Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) could peak at $150,000 and Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) at $600 this bull cycle, reflecting tempered optimism amid recent market volatility.



&#8220;<a href="https://www.benzinga.com/general/sports/24/11/42015289/disney-q4-report-had-a-lot-to-like-analyst-calls-it-a-high-quality-profit-growth-performer">Disney Q4 Earnings Show &#8216;A Lot To Like&#8217;: Analyst Calls It &#8216;High-Quality&#8217; Profit Growth Performer</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, highlights The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) exceeding Q4 direct-to-consumer profit estimates and unveiling multi-year guidance, prompting analysts like Guggenheim&#8217;s Michael Morris to raise price targets, citing double-digit EPS growth expected by 2026.



For additional bullish calls of the past week, check out the following:



<a href="https://www.benzinga.com/analyst-ratings/price-target/24/11/41884655/bank-of-america-predicts-positive-stock-re-rating-for-wells-fargo-after-asset-cap-removal">Bank Of America Predicts Positive Stock Re-Rating For Wells Fargo After Asset Cap Removal</a>



<a href="https://www.benzinga.com/24/11/41890600/anthony-scaramucci-optimistic-of-a-us-strategic-bitcoin-reserve-trumps-victory-accelerated-the-cycle">Anthony Scaramucci Optimistic On US Strategic Bitcoin Reserve: &#8216;Trump&#8217;s Victory Accelerated The Cycle&#8217;</a>



<a href="https://www.benzinga.com/news/earnings/24/11/41991912/sam-altman-backed-oklo-reports-q3-earnings-momentum-is-building-every-week">Sam Altman-Backed Oklo Reports Q3 Earnings: &#8216;Momentum Is Building Every Week&#8217;</a>



The Bears



&#8220;<a href="https://www.benzinga.com/24/11/41932146/spirit-airlines-shares-plunge-nearly-63-after-hours-as-it-delays-q3-results-mulls-equity-cancellation">Spirit Airlines Nears Bankruptcy, Creditors May Approve Equity &#8216;Cancellation:&#8217; Here&#8217;s What It Means For Investors As Shares Fall With A Thud</a>,&#8221; by <a href="https://www.benzinga.com/author/rishabhmishra-benzinga-com">Rishabh Mishra</a>, details Spirit Airlines Inc.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) 63% share plunge after delaying Q3 earnings and entering restructuring talks, potentially canceling existing equity. 



&#8220;<a href="https://www.benzinga.com/etfs/specialty-etfs/24/11/41888750/gold-etf-hit-with-1-billion-outflow-investors-dump-safe-haven-asset-after-trump-win">Gold ETF Hit With $1 Billion Outflow: Investors Dump Safe Haven Asset After Trump Win</a>,&#8221; by <a href="https://www.benzinga.com/author/piero-cingari">Piero Cingari</a>, highlights a $1 billion outflow from SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) as investors shift from gold, citing expectations of a stronger dollar and economic growth under Donald Trump&#8217;s re-election, while Bitcoin gains popularity as &#8220;digital gold.&#8221;



&#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41986341/what-is-plug-powers-future-analysts-warn-of-cash-crunch-and-slow-hydrogen-market-growth">What Is Plug Power&#8217;s Future? Analysts Warn Of Cash Crunch And Slow Hydrogen Market Growth</a>,&#8221; by <a href="https://www.benzinga.com/author/lekha-gupta">Lekha Gupta</a>, highlights concerns over Plug Power Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) high cash burn and weak Q3 results, with analysts forecasting revenue below estimates for 2024 and 2025, despite potential DOE loan support and European hydrogen project backing.



For more bearish takes, be sure to see these posts:



<a href="https://www.benzinga.com/media/24/11/41941228/att-data-breach-exposes-50-billion-records-hackers-identified-ransom-paid">AT&amp;T Data Breach Exposes 50 Billion Records: Hackers Identified, Ransom Paid</a>



<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41880110/solar-renewables-stocks-crash-after-trump-win-should-you-buy-now-at-cheap-valuations">Solar, Renewables Stocks Crash After Trump Win: Should You Buy Now At Cheap Valuations?</a>



<a href="https://www.benzinga.com/trading-ideas/movers/24/11/41902202/trumps-china-hawks-rumored-for-top-roles-yuan-hits-3-month-low">Chinese Currency Hits 3-Month Low: Trump&#8217;s Anti-China Cabinet Appointments Rattle Investors</a>



Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.



Image created using artificial intelligence via Midjourney.

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Long Ideas

Short Ideas

$SOL

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Benzinga Bulls And Bears: Tesla, Disney, Gold — And Hedge Funds Project Bitcoin To Hit $100K-$150K

<h3 class="wp-block-heading">New On The Block</h3>



Evolent Health Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVH#NYSE">EVH</a>) is <a href="https://www.benzinga.com/m-a/24/08/40529349/evolent-health-explores-sale-garners-inbound-interest-from-private-equity-firms">reportedly up for sale</a>. The Arlington, Virginia-based software provide initiated an auction process after receiving takeover inquiries. Among the potential suitors are TPG Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TPG#NASDAQ">TPG</a>), Clayton, Dubilier &amp; Rice, and KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>). Reuters reported that health insurer Elevance Health Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELV#NYSE">ELV</a>) may join forces with a private equity partner to pursue a deal.



Kronos Bio Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KRON#NASDAQ">KRON</a>), a company focused on developing therapies for cancer, is exploring &#8220;strategic alternatives,&#8221; including an acquisition or merger.The San Mateo, Califonia-based company reported $124.9 million in cash reserves as of Sept. 30. 



Saint-Gobain (PARIS:<a class="ticker" href="https://www.benzinga.com/stock/SGO#PARIS">SGO</a>) is considering a sale of its auto glass unit, which could fetch up to 2.5 billion euro ($2.6 billion), per <a href="https://www.bloomberg.com/news/articles/2024-11-13/st-gobain-is-said-to-weigh-2-5-billion-sale-of-auto-glass-unit">Bloomberg</a>. The company is reportedly considering this strategic move as part of its broader business evaluation. This sale aligns with Saint-Gobain&#8217;s efforts to streamline its operations and focus on core business areas.



Shell (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>) is seeking to <a href="https://www.bloomberg.com/news/articles/2024-11-13/shell-aims-to-sell-majority-stake-in-carbon-offsets-business?srnd=phx-deals">jettison</a> a majority of its carbon offsets portfolio. The company first launched the portfolio of offsets, which covers dozens of projects, <a href="https://www.bloomberg.com/news/features/2023-08-31/shell-silently-abandoned-its-100-million-a-year-plan-to-offset-co2-emissions" target="_blank" rel="noreferrer noopener">in 2018</a>. 



Unilever (LSE: ULVR) is exploring the sale of some Dutch food brands, including Unox soups and Conimex seasonings. According to Reuters, the company will instead focus on its biggest &#8220;power&#8221; labels.



See Also: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/42024210/benzinga-bulls-and-bears-tesla-disney-gold-and-hedge-funds-project-bitcoin-to-hit-100k-150k">Benzinga Bulls And Bears: Tesla, Disney, Gold — And Hedge Funds Project Bitcoin To Hit $100K-$150K</a>



<h3 class="wp-block-heading">Bankruptcy Block</h3>



Alex Jones&#8217;s media company, Infowars, is now the property of satirical publication The Onion. The publication&#8217;s backers were none other than the families <a href="https://www.benzinga.com/media/24/11/41982446/jokes-on-jones-onion-backed-by-families-of-sandy-hook-victims-buys-info-wars">of Sandy Hook victims</a>. Observers praised the deal as poetic justice, considering Jones owes over $1 billion in defamation judgments against those families. Jones, who <a href="https://www.benzinga.com/news/23/12/36168941/elon-musks-controversial-move-alex-jones-returns-to-x-after-user-vote">has garnered sympathy from</a> right-wing personalities like Elon Musk and Tucker Carlson, confirmed the acquisition in a visibly distressed social media video, blaming &#8220;Democrats.&#8221;



Diamond Sports Group&#8216;s restructuring will include reducing its debt from nearly $9 billion to $200 million, <a href="https://www.espn.com/mlb/story/_/id/42388454/diamond-sports-group-emerges-bankruptcy">ESPN</a> reports. The restructuring plan received what Diamond categorized as &#8220;nearly unanimous support&#8221; from debt holders. Diamond, currently possessing $100 million in liquidity, will emerge from bankruptcy and operate as a stand-alone entity. Sinclair, the parent company, took on $8 billion in debt to buy regional channels from Fox for $10.6 billion in 2019. That debt contributed to Diamond&#8217;s bankruptcy.



<h3 class="wp-block-heading">Updates From The Block</h3>



Currently, there are no concrete indications that Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>) is actively pursuing a sale. Recent speculation regarding Humana being acquired by Cigna Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>) was definitively addressed, with Cigna explicitly stating that it is <a href="https://www.benzinga.com/general/health-care/24/11/41877573/cigna-not-pursuing-humana-merger-stock-soars">not pursuing a merger</a> with Humana at this time. This clarification came after rumors reignited post-election, driven by the potential for more lenient antitrust reviews under the new <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41979935/golden-years-for-ma-deals-ahead-under-trump-analysts-highlight-top-10-large-cap-candidates">Republican administration and Congress</a>.



Spirit Airlines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) is no longer in deal talks with Frontier Airlines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULCC#NASDAQ">ULCC</a>). It&#8217;s now in advanced discussions with bondholders to finalize a bankruptcy plan. The carrier continues to struggle with mounting losses and looming debt maturities. A bankruptcy filing is expected to happen within weeks, according to <a href="https://www.benzinga.com/news/earnings/24/11/41932146/spirit-airlines-nears-bankruptcy-creditors-may-approve-equity-cancellation-heres-what-it-means-for-investors-as-shares-fall-with-a-thud">the Wall Street Journal</a>.



MEI Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEIP#NASDAQ">MEIP</a>) continues to explore M&amp;A opportunities, hiring Oppenheimer &amp; Co., Inc. as an exclusive financial advisor to assist the process. During the first quarter of fiscal year 2025, the company commenced cash preservation efforts that include a reduction-in-force, which will continue in stages as the Company's operational and strategic direction evolves.



<h3 class="wp-block-heading">Notes From The Block</h3>



Wall Street anticipates a surge in M&amp;A as Republicans take control of Congress and deregulate. Analysts expect Federal Trade Commission Chair Lina Khan's removal, which could ease antitrust scrutiny. Bank of America highlights that Republican administrations, like President-elect Donald Trump&#8216;s, historically foster over 50% more financial sector M&amp;A activity compared to Democratic ones. 



Bank of America also predicts that 2025 could mark a better year for M&amp;A as rate cuts take effect and economic conditions stabilize. Here&#8217;s a list of five potential targets the bank compiled. For the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41979935/golden-years-for-ma-deals-ahead-under-trump-analysts-highlight-top-10-large-cap-candidates">full list, click here</a>.



<figure class="wp-block-table"><table><thead><tr><th>Company</th><th>Sector</th><th>Market Cap ($M)</th><th>Free Cash Flows-to-Enterprise Value (%)</th><th>Long-Term Growth Expectations (%)</th></tr></thead><tbody><tr><td>Universal Health Services Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UHS#NYSE">UHS</a>)</td><td>Health Care</td><td>13,932</td><td>4.4</td><td>25.3</td></tr><tr><td>Ralph LaurenCorp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RL#NYSE">RL</a>)</td><td>Consumer Disc.</td><td>12,473</td><td>5.99</td><td>10.5</td></tr><tr><td>Paramount Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NYSE">PARA</a>)</td><td>Comm. Services</td><td>7,250</td><td>3.4</td><td>46.4</td></tr><tr><td>Jabil Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>)</td><td>Technology</td><td>14,480</td><td>6.39</td><td>12.7</td></tr><tr><td>Hasbro Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>)</td><td>Consumer Disc.</td><td>9,215</td><td>3.6</td><td>27.5</td></tr></tbody></table></figure>



For last week&#8217;s Deal Dispatch, <a href="https://www.benzinga.com/news/asset-sales/24/11/41866114/deal-dispatch-prison-companies-in-focus-post-election-tripadvisor-boasts-11b-in-cash">click here</a>.



Now Read: 



<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/11/41699259/nvidia-rides-ai-wave-to-replace-intel-on-dow-jones-industrial-average-ending-its-25-year-run">Nvidia Rides AI Wave To Replace Intel On Dow Jones Industrial Average, Ending Its 25-Year Run</a></li>
</ul>

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KRON

MEIP

NISTF

PARA

PARIS:SGO

ROIC

SHEL

SLGWF

SLNG

TRIP

TSX:SGO

ULCC

Deal Dispatch: Shell, Unilever And More Are On The Sell Side; The Onion Makes Alex Jones Cry Foul

It was a rollercoaster week for Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>). From facing a hefty legal claim in the UK to receiving directives from the EU, the tech giant had its hands full. Amidst these challenges, Apple also revealed exciting plans for new tech products set to challenge industry competitors. Here&#8217;s a quick recap of the major stories that unfolded over the weekend.



Apple Faces $3.8B Legal Claim Over iCloud



Consumer group Which? has lodged a £3 billion ($3.81 billion) legal claim against Apple, alleging the company breached UK competition law with its iCloud service. The claim suggests that Apple has exploited its market dominance by directing customers towards its integrated iCloud service without presenting alternative cloud storage options. The case could result in compensation for approximately 40 million UK iPhone and iPad users.



<a href="https://www.benzinga.com/news/global/24/11/41964915/apple-faces-legal-action-over-rip-off-icloud-charges-could-pay-out-38b-to-uk-customers">Read the full article here.</a>



EU Orders Apple to End Geo-Blocking Practices



The European Union has instructed Apple to cease geo-blocking on its media services. The European Commission identified several geo-blocking practices on Apple's platforms, including the App Store, Apple Arcade, Music, iTunes Store, Books, and Podcasts. The Commission warned of potential enforcement actions by national regulators if Apple fails to address these issues.



<a href="https://www.benzinga.com/news/global/24/11/41897368/apple-ordered-by-eu-to-end-geo-blocking-on-app-store-itunes-and-other-apps">Read the full article here.</a>



See Also: <a href="https://www.benzinga.com/tech/24/11/41895759/amazon-set-to-introduce-new-ai-chips-in-december-to-rival-jensen-huangs-ai-stalwart-we-want-to-be-absolutely-the-best-place-to-run-nvidia?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amazon Set To Introduce New AI Chips In December To Rival Jensen Huang&#8217;s AI Stalwart</a>



Apple&#8217;s New AI Wall Tablet Set to Challenge Amazon and Google



Apple reportedly plans to unveil a new AI wall tablet, codenamed J490, to compete with Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google in the smart home race. The device, expected to be announced as early as March, will serve as a home command center.



<a href="https://www.benzinga.com/media/24/11/41928049/apples-new-ai-wall-tablet-with-siri-and-video-calling-set-to-challenge-amazon-and-google-in-smart-home-race">Read the full article here.</a>



Apple&#8217;s Smart Camera Coming in 2026



Apple is reportedly planning to enter the smart home IP camera market in 2026, aiming for "tens of millions" of annual shipments, according to analyst Ming-Chi Kuo. The device will integrate with Apple products, with a goal of more than 10 million annual shipments.



<a href="https://benzinga.com/tech/24/11/41891237/apples-smart-camera-coming-in-2026-cupertino-eyeing-tens-of-millions-in-annual-shipments-says-top-supply-chain-analyst">Read the full article here.</a>



Apple&#8217;s iOS 18.1 Update Adds &#8216;Inactivity Reboot&#8217;



Apple has introduced an automatic reboot feature for idle iPhones in its latest iOS 18.1 update to enhance device security. The new feature triggers an automatic reboot of an iPhone that has been idle for a certain period.



<a href="https://www.benzinga.com/media/24/11/41873261/apples-ios-18-1-update-adds-inactivity-reboot-to-lock-down-unused-iphones-heres-how-it-protects-your-privacy">Read the full article here.</a>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/tech/24/11/41932289/ai-capabilities-plateauing-say-andreessen-horowitz-founders-echoing-concerns-of-openai-co-founder-ilya-sutskever?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">AI Capabilities Plateauing, Say Andreessen Horowitz Founders, Echoing Concerns Of OpenAI Co-Founder Ilya Sutskever</a></li>
</ul>



Photo courtesy: Unsplash



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

Legal

AAPL

AMZN

This Week In Appleverse: $3.8B Lawsuit, EU Directives, And Upcoming Products

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



<ol>
<li>MicroStrategy Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) stock gained 25.97% last week amid the sharp rise in Bitcoin&#8217;s (CRYPTO: BTC/USD) price.</li>



<li>Shopify Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) shares escalated 24.53% after the company reported better-than-expected&nbsp;third-quarter results and several analysts revised <a href="https://www.benzinga.com//node/41950175" target="_blank" rel="noreferrer noopener">their price targets on the stock</a>.</li>



<li>Affirm Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) gained 20.80% last week. Wells Fargo maintained an Overweight rating on the stock and raised its <a href="https://www.benzinga.com/quote/afrm/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast from $52 to $55</a>.</li>



<li>Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) stock upped 16.22% after announcing <a href="https://www.benzinga.com//node/41971559" target="_blank" rel="noreferrer noopener">fourth-quarter results</a>. Analysts raised the <a href="https://www.benzinga.com/quote/dis/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast on the stock</a>.</li>



<li>Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) stock upped 14.39% after the company reported better-than-expected&nbsp;third-quarter&nbsp;earnings and <a href="https://www.benzinga.com//node/41950852" target="_blank" rel="noreferrer noopener">analysts boosted price targets.</a></li>



<li>Jack Dorsey&#8217;s Block, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>) stock increased by 13.06%. Several analysts raised their <a href="https://www.benzinga.com/quote/sq/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecasts</a> on the stock.</li>



<li>Coinbase Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) shares gained 12.97% last week. The company recently announced it acquired on-chain payments platform Utopia Labs. A sharp rise in Bitcoin price also played a part.</li>



<li>Palantir Technologies Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) stock upped 12.64%. The company announced it renewed its multi-year enterprise agreement with Rio Tinto for an additional four years of access to its AI platform. It also plans to transfer its stock <a href="https://www.benzinga.com//node/42010539" target="_blank" rel="noreferrer noopener">exchange listing to the Nasdaq</a>.</li>



<li>Grab Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRAB#NASDAQ">GRAB</a>) shares increased 11.82% &nbsp;after the company reported third-quarter&nbsp;results and raised its FY25 revenue<a href="https://www.benzinga.com//node/41889889" target="_blank" rel="noreferrer noopener"> guidance&nbsp;above estimates</a>.</li>



<li>NetEase, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTES#NASDAQ">NTES</a>) shares rose 11.37% after the company reported <a href="https://www.benzinga.com//node/41964319" target="_blank" rel="noreferrer noopener">third-quarter&nbsp;financial results</a>.</li>
</ol>



Photo by Useacoin on Shutterstock

Large Cap

AFRM

COIN

GRAB

MSTR

NTES

PLTR

SHOP

SPOT

Shopify, Disney And Coinbase Were Among Top 10 Large Cap Gainers Last Week (November 11-15): Are The Others In Your Portfolio?

Billionaire investor Mark Cuban has pledged $1 million to BucketGolf, a firm that sells portable golf courses, despite his well-known distaste for the sport. The offer was made during an episode of ABC&#8217;s &#8220;Shark Tank.&#8221;



What Happened: BucketGolf, a San Francisco-based company run by siblings Tyler and Jenny Simmons, was seeking $1 million for a 10% equity stake. 



The company, which sells a game that mimics golf using foldable buckets as holes, was projected to generate over $12 million in sales in 2024.



According <a href="https://www.cnbc.com/2024/10/29/mark-cuban-hates-golf-still-offered-bucketgolf-million-dollars-shark-tank.html">to</a> CNBC report, other &#8220;Shark Tank&#8221; panelists, including Kevin O&#8217;Leary and Daymond John, also offered $1 million but for larger equity stakes in BucketGolf. However, Cuban countered with a $1 million offer for 15% of the company, which was less equity than his fellow judges demanded.



Also Read: <a href="https://www.benzinga.com/news/24/10/41196856/heres-how-mark-cubans-drunken-splurge-of-125-000-turned-into-a-profitable-investment">Mark Cuban Drunkenly Bought A $125,000 Lifetime Flight Pass And Turned It Into A Profitable Investment</a>



Initially, the Simmons siblings requested Cuban for 12.5% equity, but he refused. Despite this, Cuban eventually agreed to their terms after fellow judge Lori Greiner did the same. The siblings accepted Cuban&#8217;s offer, citing his sports background as a key factor in their decision.



As of now, it is not clear whether the deal was finalized after the taping. BucketGolf has not responded to CNBC&#8217;s request for comment.



Also Read:&nbsp;<a href="https://www.benzinga.com/top-stories/24/06/39241650/heres-how-mark-cuban-made-91-of-his-employees-millionaires" target="_blank" rel="noreferrer noopener">Here's How Mark Cuban Made 91% Of His Employees Millionaires</a>



Why It Matters: This investment is noteworthy given Cuban&#8217;s public dislike for golf. His decision to invest in BucketGolf, despite his personal preferences, underscores his belief in the company&#8217;s potential and the innovative nature of its product. 



The Simmons siblings&#8217; decision to accept Cuban&#8217;s offer, despite his initial refusal, also highlights the value they place on his sports industry experience. This move could potentially boost the company&#8217;s profile and growth in the sports entertainment market.



Read Next



<a href="https://www.benzinga.com/news/24/08/40667225/mark-cuban-asks-his-8m-x-followers-about-whose-character-would-they-like-young-children-to-grow-up-e" target="_blank" rel="noreferrer noopener">Mark Cuban Asks His 8M X Followers About Whose Character Would They Like Young Children To Grow Up Emulating Between Trump And Harris: Cuban Receives Half A Million Responses, Majority Supporting This Candidate</a>



This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Image: Shutterstock

Success Stories

Mark Cuban Swings $1M To Golf Company Despite Hating The Sport

Bitcoin might be making headlines for hitting an all-time high after the U.S. presidential election, but an even more impressive success story is unfolding. While the world&#8217;s most popular cryptocurrency is <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41709166/bitcoin-to-hit-100-000-by-january-2025-could-black-hole-effect-push-the-largest-crypto-to-">nearing the $100,000 milestone</a>, Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) has outperformed Bitcoin significantly over the past five years.



Don't Miss:



<ul>
<li>With over 7.8K investors including Meta, Google, And Amazon Execs — this AI Startup's valuation has skyrocketed from $5 million to $85 million in just three years. <a href="https://www.benzinga.com/money/rad-ai"><a href="https://www.benzinga.com/money/rad-ai-2">Be an early investor with just $1,000 for only $0.50/share today before the offer closes next week</a>!</a></li>



<li>1 in 4 Americans own a share of Bitcoin according to NASDAQ — <a href="https://www.benzinga.com/money/binance-100">this platform touts returns as high as 12.5% APY and is giving $100 in welcome rewards if you sign up today.</a></li>
</ul>



<a href="https://www.benzinga.com/quote/BTC-USD">Bitcoin</a> has had an incredible year. Since the 2024 presidential election, it has been on a rapid upward climb, <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41951961/bitcoin-to-100k-benzinga-readers-predict-if-btc-can-hit-new-milestone-before-end-of-2024">recently hitting $93,434.36</a> and approaching the much-anticipated six-figure mark.&nbsp;



Changing regulations, growing institutional interest and especially <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41770352/bitcoins-future-under-president-elect-donald-trump-a-look-at-his-crypto-policies">pro-crypto sentiments</a> from the future U.S. leadership have all contributed to Bitcoin&#8217;s rise. Many analysts now expect it might hit $100,000 sooner rather than later and the enthusiasm is evident.



Trending: ‘Scrolling Through UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. <a href="https://www.benzinga.com/money/mode-mobile-2">Valuation set to change next week but you can invest TODAY for just $0.25/share with a $1000 minimum</a>.



But while Bitcoin has been gaining attention, Nvidia&#8217;s stock has been outperforming it. On Nov. 14, Nvidia&#8217;s share price closed at $146.27, a staggering 2,768% increase over the previous five years. To put things in perspective, Bitcoin has increased by roughly 973% during that time, which is remarkable but still significantly less than Nvidia&#8217;s enormous growth.



The tech sector now relies heavily on Nvidia. Their specialist chips have been in high demand as artificial intelligence (AI) becomes a more important component of everything from data centers to consumer goods. The company has experienced exponential growth and its stock price has followed suit.



See Also: The global games market is projected to generate $272B by the end of the year —<a href="https://www.benzinga.com/money/gameflip"> for $0.55/share, this VC-backed startup with a 7M+ userbase gives investors easy access to this asset market.</a>



<h2 class="wp-block-heading">Nvidia Joins the Dow</h2>



Among Nvidia&#8217;s recent accomplishments is replacing Intel in the Dow Jones Industrial Average. This action emphasizes the continuous transition toward AI technology and firmly establishes Nvidia as a significant force in the tech sector. With a market cap of $3.43 trillion, <a href="https://www.benzinga.com/news/large-cap/24/11/41761849/nvidia-blows-past-apple-to-become-worlds-most-valuable-company">Nvidia recently surpassed Apple</a> to become the world&#8217;s most valuable company.



<a href="https://www.benzinga.com/insights/options/24/11/41951342/spotlight-on-nvidia-analyzing-the-surge-in-options-activity">Analysts have remained bullish on Nvidia</a>, citing its continued dominance in AI chips and the growth of AI technology overall. The company&#8217;s future looks bright, with analysts setting price targets that suggest even more upside potential for investors.



Although Bitcoin&#8217;s ascent to its highest point in history is undoubtedly cause for celebration, Nvidia&#8217;s achievements over the last five years are truly remarkable. While both Nvidia and Bitcoin have provided investors with amazing profits, Nvidia has been one of the market leaders due to its steady expansion and rising product demand. Use <a href="https://www.benzinga.com/pro/">Benzinga Pro</a> to stay informed about the latest NVIDIA options trades with real-time alerts.



Read Next:



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<li>This Adobe-backed AI marketing startup went from a $5 to $85 million valuation working with brands like L'Oréal, Hasbro, and Sweetgreen in just three years –<a href="https://www.benzinga.com/money/rad-ai"> here's how there's a limited time opportunity to invest at $1,000 for only $0.50/share before closing date.</a></li>



<li>If there was a new fund backed by Jeff Bezos offering a <a href="https://www.benzinga.com/money/arrived-private-credit-fund">7-9% target yield with monthly dividends would you invest in it</a>?</li>
</ul>

Startups

Bitcoin Hits An All-Time High, But Nvidia Has Outperformed It Dramatically Over The Last Five Years

Billionaire Elon Musk and former Republican presidential candidate Vivek Ramaswamy have set their sights on curbing federal expenditure, leveraging the Republican dominance <a href="https://www.benzinga.com/news/24/09/41082363/heres-how-elon-musk-has-become-a-pro-trump-political-influencer-through-social-media">in both chambers of Congress</a>.



What Happened: According to a report, the duo&#8217;s Department of Government Efficiency (DOGE) aims to reduce spending by a whopping $2 trillion. 



The Republican majority in Congress, which allows for budget reconciliation, makes this ambitious target more attainable by sidestepping the usual filibuster rules.



Business Insider reports that <a href="https://www.businessinsider.com/why-elon-musk-cutting-federal-spending-could-work-2024-11">the</a> Department of Government Efficiency is not a government entity. Major alterations to the federal budget will likely necessitate legislative intervention. Nevertheless, Musk and Ramaswamy are in a strong position to recommend significant reductions in federal spending.



David Walker, a fiscal watchdog who headed the Government Accountability Office from 1998 to 2008, told the outlet about the limitations on what can and cannot be done, underlining the difficulties previous presidents have encountered in managing federal spending.



&#8220;There are a lot more restrictions on what you can and can&#8217;t do. There&#8217;s a lot of cultural barriers,&#8221; he said. 



The efforts by Musk and Ramaswamy could surpass prior attempts. Any proposals endorsed by Trump would have a higher likelihood of gaining Congressional approval due to Republican control. 



Also Read: <a href="https://www.benzinga.com/news/24/11/41965420/elon-musk-vivek-ramaswamy-led-department-of-government-efficiency-opens-account-on-x-says-it-is-working-overtime">Elon Musk, Vivek Ramaswamy-Led Department Of Government Efficiency Opens Account On X</a>



Thomas Schatz, the president of Citizens Against Government Waste, believes this government-efficiency initiative &#8220;can be set up faster.&#8221;



Musk has previously expressed his disapproval of the Securities and Exchange Commission and proposed incentives for government employees who demonstrate fiscal prudence. 



Ramaswamy has suggested a thought experiment to downsize the federal workforce. Veronique de Rugy, an economist at the libertarian think tank Mercatus Center, believes that Musk and Ramaswamy could achieve $2 trillion in savings through radical reforms.



Why It Matters: This development is significant in the context of ongoing debates about federal spending and debt. 



The ambitious plan by Musk and Ramaswamy, if successful, could set a precedent for future administrations and potentially reshape the landscape of government spending. 



Their unique approach, coupled with the current political climate, may provide the necessary momentum to drive significant changes in federal expenditure.



Read Next



<a href="https://www.benzinga.com/news/24/07/39999410/what-a-second-trump-presidency-would-mean-for-elon-musk-and-his-many-ventures">What A Second Trump Presidency Would Mean For Elon Musk And His Many Ventures</a>



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.

Politics

Musk And Ramaswamy Seek Spending Cut Wins Where Others Failed

<a href="https://www.benzinga.com/personal-finance/24/09/40972049/dave-ramsey-tells-29-year-old-1m-in-debt-and-spending-like-shes-in-congress-im-getting-ready-to-">Dave Ramsey isn't just any financial guru – </a>he's a powerhouse who reportedly owns $600 million in real estate, all bought in cash. Known for his unfiltered advice to callers, he usually sticks to helping others get their finances straight. But occasionally, he pulls back the curtain and gives a glimpse into the personal strategies that got him where he is.



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<ul>
<li>The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?</li>



<li>Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.</li>



<li>This Jeff Bezos-backed startup will allow you to<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> become a landlord in just 10 minutes, and you only need $100</a>.</li>
</ul>



A few years back, in a popular YouTube video, Ramsey's message was loud and clear: "The borrower is a slave to the lender."



In that video, he detailed his investing process, clarifying that debt isn't just a financial burden – it's a roadblock to real wealth. For Ramsey, avoiding debt isn't simply about managing money; it's about <a href="https://www.benzinga.com/personal-finance/24/09/40711869/how-rich-are-you-heres-the-net-worth-that-defines-upper-middle-and-lower-class">taking control of your future</a>.



Ramsey often highlights the power of focusing on "your most powerful wealth-building tool" – your income. He insists that when you keep your earnings out of the hands of lenders, you're free to use them to create long-term wealth. "When you haven't committed your income in the form of payments to everybody else, you can invest it and become wealthy," he says, explaining that a little financial discipline now can lead to significant rewards.



Trending: ‘Scrolling to UBI': Deloitte's #1 fastest-growing software company allows users to earn money on their phones –<a href="https://www.benzinga.com/money/mode-mobile-2"> invest today with $1,000 for just $0.25/share</a>



Ramsey shares a striking example: the average car payment in America is around $503. "That's just crazy," he exclaims. If someone instead invested $500 a month from age 30 to 70 in a decent growth stock mutual fund, Ramsey claims they could amass over five million dollars by retirement. "One thing could make you worth five million dollars," he says, emphasizing how small decisions add up over time.



<a href="https://www.benzinga.com/personal-finance/24/09/40777048/24-year-old-gets-best-job-of-his-life-and-wants-to-invest-but-dave-ramsey-says-youre-broke-and-i">Ramsey's advice</a> doesn't stop at avoiding debt. He's also a vocal advocate for investing in good growth stock mutual funds, a strategy he believes is the best path to financial independence. He favors a balanced approach, spreading investments across four types of funds: growth and income, growth, aggressive growth and international funds. This mix, he argues, has a strong track record of outperforming basic index funds. "If the mutual fund you're looking at is below that S&amp;P 500 line, don't buy that fund," he advises.



Trending: This rooftop wind turbine is taking on a market projected to reach over $900 billion by 2032 —<a href="https://www.benzinga.com/money/halcium"> With already over 40,000 users signing up to purchase, here's a chance to be an early investor today!</a>



Ramsey is well aware that his stance sometimes contrasts with other voices in the financial world, especially those promoting index funds and fee-conscious strategies. "Some people are stepping over $5 bills trying to pick up pennies worrying about these fees," he quips, adding that while fees matter, they're not what makes or breaks financial success. To him, the true key is consistency – saving and investing monthly, year after year, no matter what the market is doing. He's clear that "the big thing is actually putting money into the mutual funds, actually investing."



Ramsey's approach also reflects his view on financial independence. For him, paying a broker is worth it to have someone keep you on track. "I need a broker in my life. I need somebody that's an advisor," he says, explaining that, despite knowing a lot about investing, he <a href="https://www.benzinga.com/money/can-you-guess-how-many-americans-successfully-retire-with-1-million-saved">prefers having a professional's guidance</a> to stay disciplined. Ramsey points out that emotional reactions to market trends often sway people who invest independently. "When you're out there by yourself with all your theories," he says, "you cash out all your mutual funds at exactly the wrong time because you don't have anybody in your corner saying, ‘Don't jump.'"



See Also: Many are using this retirement income calculator to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on how on what&#8217;s behind this formula.</a>



According to Ramsey, retirement success isn't just about choosing the right investments – it's about regularly investing. He cites research showing that "74% of retirement success is doing it." By steadily contributing to retirement accounts, people can build a significant nest egg without chasing high returns or jumping in and out of the market.



Ramsey's advice is simple: <a href="https://www.benzinga.com/personal-finance/24/10/41385340/dave-ramsey-says-buying-cars-for-your-teenagers-leads-to-a-lifetime-of-ridiculous-expectations-b">stay away from debt</a>, invest consistently and focus on the long term. He believes this advice can help people achieve not only wealth but also peace of mind. "This is how you get wealthy," he says, stressing that the journey isn't about luck or timing; it's about persistence and discipline.



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<li>Studies show 50% of consumers think Financial Advisors cost much more than they do —<a href="https://www.benzinga.com/money/money-pickle"> to debunk this, this company provides matching for free and a complimentary first call with the matched advisor.</a></li>



<li><a href="https://www.benzinga.com/money/62-years-old-with-1-mil-saved">I&#8217;m 62 Years Old And Have $1.2 Million Saved. Is This Enough to Retire Stress-Free?</a></li>
</ul>

Personal Finance

'This Is How You Get Wealthy' – Dave Ramsey Details How One Move Could Make You $5 Million By Retirement

The current stock market environment is reminiscent of the<a href="https://www.benzinga.com/markets/equities/24/07/39589689/ai-boom-spurs-nvidia-led-us-stock-market-rally-experts-draw-parallels-with-dotcom-bubble-no-one-"> dot-com bubble peak,</a> according to Rob Arnott, the founder and chairman of Research Affiliates. Arnott predicts a significant pullback in the near future.



What Happened: Arnott, who is known for his early predictions of bull market tops, sees parallels between the current market and the dot-com bubble peak, <a href="https://www.businessinsider.com/stock-market-crash-rob-arnott-warns-bear-market-tech-bubble-2024-11">reported</a> Business Insider. He does not anticipate an immediate significant pullback but foresees a substantial decline in the near future.



Arnott&#8217;s observations come as the S&amp;P 500, a large-cap index dominated by mega-cap growth firms, surged 5% within <a href="https://www.benzinga.com/trading-ideas/24/11/41977313/will-trumps-election-win-push-sp-500-even-higher-in-final-weeks-of-2024-over-75-say">a week following the election</a> of Donald Trump, closing above 6,000 for the first time. This rapid increase is the latest development in a 66% rally that has lasted over two years.



&#8220;This looks and feels like the year 2000 to me,&#8221; Arnott told the publication. 



&#8220;Are we likely to see a bear market in the next two years for large-cap growth? Yeah.&#8221;



The market&#8217;s record highs are driven by a strong economy and optimism about artificial intelligence and business-friendly policies from the future Trump administration. However, Arnott believes that the AI optimism, which has been the primary driver of the rally, is already fully priced in.



See Also: <a href="https://www.benzinga.com/markets/24/11/42017638/activist-hedge-fund-valueact-boosts-meta-stake-with-121m-bet-but-ceo-morfit-supports-mark-zuckerberg" target="_blank" rel="noreferrer noopener">Activist Hedge Fund ValueAct Boosts Meta Stake With $121M Bet, But CEO Morfit Supports Mark Zuckerberg's AI Vision: Here's What Investors Should Know</a>



Arnott points to the S&amp;P 500&#8217;s Shiller cyclically adjusted price-to-earnings ratio, which is at levels comparable to the dot-com bubble peak. At 37 times earnings, just below the late-2021 peak of 38, before the market fell by 25%, and the 2000 peak of 43, right before a 50% loss.



Arnott also highlights the potential threats to the market&#8217;s bullish narrative, such as the rise of competition for companies like Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and a slower-than-expected pace of AI adoption. However, he added that companies like Nvidia are expected to maintain their 90% market share even as competition intensifies and chip prices eventually decrease.



&#8220;Well, Intel is teetering perilously close to irrelevance, and Nvidia wasn&#8217;t on anyone&#8217;s radar screen five years ago. So disruptors get disrupted.&#8221;



Why It Matters: Arnott&#8217;s warning echoes concerns raised by other market experts. In October, Billionaire Jeremy Grantham warned that the current economy is <a href="https://www.benzinga.com/markets/24/10/41145356/billionaire-who-predicted-2008-crash-and-dot-com-bubble-calls-the-current-economy-the-most-vulnerabl">the most vulnerable market ever.</a> This was after the U.S. stock market&#8217;s surge, fueled by the promise of artificial intelligence, drew comparisons to the dot-com bubble of the late 1990s.



These concerns are particularly relevant given the recent performance of MicroStrategy Inc., whose shares<a href="https://www.benzinga.com/markets/equities/24/11/41892752/microstrategy-shares-hit-24-year-high-jumps-most-since-dot-com-bubble-as-bitcoin-trades-at-record-levels"> hit a 24-year high</a>, marking the highest level since the dot-com bubble in March 2000. This surge was fueled by the rise in Bitcoin (CRYPTO: Bitcoin), a crucial asset held by the company in its portfolio.



Price Action: The S&amp;P 500 Index closed at 5,870.62 points on Friday, it has yielded 23.78% on a year-to-date basis and 30.22% over the last year. The SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) which tracks the S&amp;P 500 Index has had a similar momentum in 2024.



Read Next: <a href="https://www.benzinga.com/24/11/42025179/chamath-palihapitiya-regrets-this-3-or-4-billion-crypto-mistake-as-bitcoin-rises-above-90000-would-have-made-a-lot-more-money" target="_blank" rel="noreferrer noopener">Chamath Palihapitiya Regrets This &#8216;$3 Or $4 Billion&#8217; Crypto Mistake As Bitcoin Rises Above $90,000: &#8216;Would Have Made…A Lot More Money&#8217;</a>



Image via Unsplash

General

Legendary Investor Rob Arnott Says Stock Market 'Looks And Feels Like The Year 2000' As Wall Street Rallies After Trump's Win: '...Likely To See A Bear Market'

Jamie Dimon, the <a href="https://www.benzinga.com/news/24/09/40914747/jpmorgan-ceo-jamie-dimon-thinks-social-media-platforms-like-tiktok-and-facebook-are-a-total-stupid-w">outspoken CEO</a> of JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), isn&#8217;t pulling any punches regarding his feelings about U.S. financial regulations. In a fiery speech at a recent conference, Dimon made it clear that the banking industry is fed up with what he describes as overlapping, ill-conceived rules. He's had enough and it&#8217;s time, he says, to &#8220;fight back.&#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">Jamie Dimon, CEO of JPMorgan Chase, says it&#39;s time for corporations to &quot;fight back&quot; against regulators. &quot;You know, if you&#39;re in a knife fight, you better damn well bring a knife &#8230; It&#39;s time to fight back.&quot; JPMorgan Chase made an astonishing $50 billion in profits last year. <a href="https://t.co/zWyERJ5LQm">pic.twitter.com/zWyERJ5LQm</a>&mdash; More Perfect Union (@MorePerfectUS) <a href="https://twitter.com/MorePerfectUS/status/1851294825548763534?ref_src=twsrc%5Etfw">October 29, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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According to Dimon, regulations like capital requirements, card payments and open banking have gotten out of control. He thinks these <a href="https://www.benzinga.com/news/24/10/41586685/jamie-dimon-rips-stupid-calculations-in-proposed-banking-reforms-calls-for-regulatory-overhaul">regulations hurt companies, </a>particularly smaller ones and prevent growth rather than make the financial system safer. He stated that lower-paid people ultimately face the weight of limited access to financial services.



At the heart of his argument is a belief that banks are getting pushed around by regulators and that it&#8217;s time to push back. He compared the current situation to a knife fight, where bringing a knife is the only way to have a chance. For Dimon, that means not shying away from lawsuits and direct challenges to what he calls unfair regulations.&nbsp;



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One point of contention is the Basel III endgame – a set of proposed rules to align U.S. banking standards with the Basel Committee on Banking Supervision. While regulators argue that these changes will make the industry more resilient to economic shocks, Dimon sees things differently. To him, it's all about the details and he's not convinced that these tweaks are in the best interest of banks or their customers.



Dimon also criticized how card-issuing companies like American Express and Discover can charge more for debit card transactions, while banks face strict limits. To him, this is just another example of a regulation that's &#8220;grossly unfair.&#8221;



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Another target of Dimon&#8217;s criticism was the <a href="https://www.benzinga.com/24/10/41599526/new-consumer-financial-regulations-unlock-data-for-ai">Consumer Financial Protection Bureau</a> (CFPB). Although their recent decision to facilitate client switching between financial service providers sounds like a win for customers, to Dimon, it creates opportunities for fraud and data breaches. He's not against open banking in theory but he's ready to fight any policy that puts consumers at risk.



And while his name often gets thrown into the ring for top government roles like Treasury Secretary, Dimon has been clear that <a href="https://www.benzinga.com/government/24/11/41783392/jamie-dimon-doesnt-plans-to-join-trump-administration-affirms-commitment-to-jpmorgan">he&#8217;s not interested</a>. He's focused on leading JPMorgan Chase, which he's done for nearly two decades and fighting what he considers unnecessary and damaging regulations from the outside.



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'If You're In A Knife Fight, You Better Damn Well Bring A Knife' – JPMorgan CEO Jamie Dimon Calls For A Stand Against Regulation

An endorsement of Donald Trump by Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk angered some existing owners of vehicles made by the <a href="https://www.benzinga.com/news/earnings/24/10/41501607/tesla-q3-earnings-highlights-eps-beat-revenue-miss-shares-climb-on-2025-timeline-for-lower-cost-evs">electric vehicle company</a>.



People who are embarrassed to be driving Tesla vehicles after the 2024 election are buying bumper stickers to show their anger of the Trump endorsement.



What Happened: Tesla owners may <a href="https://www.benzinga.com/news/24/07/39804113/exclusive-elon-musk-is-burning-his-own-blue-bridges-by-donating-to-trump-says-market-expert">disagree with Musk</a> many times throughout the year, whether it's his posts on X, views on cryptocurrency or his recent increased political campaigning and funding.



The endorsement of Trump in the 2024 election may have been the final straw for some Tesla owners. While some Tesla owners may decide to sell their vehicle in protest and get a different vehicle, some are likely to keep the vehicle due to Tesla's advanced technology.



Those who love their Tesla vehicles, but are mad at Musk have turned to a solution of plastering anti-Elon Musk bumper stickers on their vehicle.



Matthew Hiller of Hawaii has a sticker business <a href="https://www.etsy.com/shop/MadPufferStickers">called </a>Mad Puffer Stickers on Etsy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>) that has been among the places where Tesla owners are turning after the election.



Hiller shared with <a href="https://heatmap.news/electric-vehicles/anti-elon-bumper-sticker-tesla">Heatmap </a>that the sticker business is his side hustle to a full-time job at an aquarium. As a fan of making fish stickers and other designs, Hiller used his personal experience of wanting to buy a Tesla in early 2023, but not agreeing with everything Musk stood for.



"When he bought Twitter, he started extreme censoring of information, taking verification marks off The New York Times and things like that to sow discontent, disinformation, and push his agenda. And it was ugly," Hiller said.



Hiller realized that there were likely many people who were now embarrassed to be driving their Teslas around.



"So I made the fist sticker, which said, ‘I bought this before we knew Elon was crazy.'"



Hiller printed up a small run and after a slow initial time to see some sales, the stickers went viral a couple of times. Eventually Hiller was selling five to seven stickers a day and some days he would sell 50 because of a picture going viral.



"And now, at this point, it's gone insane."



Hiller told Heatmap his sales have been "unbelievable" since the 2024 election.



After the election, Hiller said he sold between 250 and 300 in one day and said the sales have "been steady ever since."



"I can barely keep up."



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The sticker entrepreneur said he can barely keep up with the momentum and comes home from the aquarium to start packing stickers until night.



Hiller estimates that he's sold around 10,000 stickers since he started on Etsy and he is currently selling around 180 total stickers per day, a total that doesn't just include anti-Elon Musk stickers.



The most popular sticker sold by Hiller is the "I bought this before we knew Elon was crazy," which he said is by far the top seller. &nbsp;



Along with being a popular seller on Etsy, the anti-Musk bumper stickers are also among the top sellers on <a href="https://www.amazon.com/Tesla-Bumper-Sticker-Bought-Accessories/dp/B0C4KHKN4S/ref=zg_bs_g_268880011_d_sccl_3/142-4678181-8008934?psc=1">Amazon </a>with Hiller's most popular design ranked among the top five bumper stickers on the e-commerce site, sometimes hitting number one in the category.



"That's insane. People hate Elon more than they love Trump or Kamala?" Hiller added.



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ETSY

Tesla Owners Who Don't Like Musk Are Letting Bumper Stickers Do The Talking

The United States has agreed to provide up to $6.6 billion in direct funding to Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) to build advanced chip facilities in the U.S.



The deal aims to enhance domestic semiconductor production and bolster national security by reducing reliance on foreign suppliers, Barron's <a target="_blank" href="https://www.barrons.com/news/us-finalizes-up-to-6-6-bn-funding-for-chip-giant-tsmc-65252814" rel="noreferrer noopener">reports</a>.



The Biden administration announced that Taiwan Semiconductor's investment will attract $65 billion in private capital to establish three state-of-the-art plants in Arizona.



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The announcement comes just before President-elect Donald Trump assumes office. Trump had previously attacked Taiwan for allegedly undermining the U.S. chip industry and <a target="_blank" href="https://www.benzinga.com/government/regulations/24/11/41845483/taiwan-semiconductor-us-expansion-plans-unfazed-by-trump-win-report" rel="noreferrer noopener">criticized the U.S. Chips Act</a>.



The first of Taiwan Semiconductor's facilities will likely commence operations by early 2025, focusing on producing cutting-edge logic chips. These chips will power next-generation technologies, including 5G/6G smartphones, autonomous vehicles, and AI applications.



Early production at the Arizona plant reportedly matches the quality of Taiwan Semiconductor's facilities in Taiwan, showcasing <a target="_blank" href="https://www.benzinga.com/government/24/10/41545709/usa-scores-big-win-taiwan-semiconductor-arizona-plant-sees-good-production-yields" rel="noreferrer noopener">strong initial yields</a>.



Commerce Secretary Gina Raimondo told Barron's the importance of manufacturing these advanced chips domestically, emphasizing their role in AI, quantum computing, and military hardware.



The initiative aims to mitigate risks associated with overseas supply chains by producing these chips on U.S. soil, addressing a critical national security concern.



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In addition to the direct funding, the U.S. government is extending up to $5 billion in proposed loans to support Taiwan Semiconductor's Arizona project.



The investment will likely generate approximately 6,000 direct manufacturing jobs. A senior U.S. official told Barron's that at least $1 billion of the allocated funding could be distributed to Taiwan Semiconductor this year, contingent on meeting specific milestones.



Meanwhile, Taiwan Semiconductor remains focused on consolidating its moat while diversifying its footprint beyond Taiwan as global governments dole out attractive subsidies.



The contract chipmaker has <a target="_blank" href="https://www.benzinga.com/markets/emerging-markets/24/11/41951575/taiwan-semi-boosts-advanced-chipmaking-with-record-euv-expansion-grabs-56-global-share" rel="noreferrer noopener">ramped up its</a> deployment of extreme ultraviolet (EUV) lithography systems, a vital technology in semiconductor production, even with the substantial expense involved.



Each EUV machine costs more than $100 million, making them some of the most costly assets in the chip manufacturing sector.



Industry analysts suggest that TSMC has significantly boosted its EUV capacity, increasing its share of global EUV installations from 50% in 2020 to 56% by 2023.



In Asia, Japan has also earmarked over $64.9 billion to <a target="_blank" href="https://www.benzinga.com/government/regulations/24/11/41939018/japan-increases-semiconductor-funding-as-us-trade-policies-pressure-taiwan-semiconductor" rel="noreferrer noopener">boost the semiconductor and AI</a> sectors. Taiwan Semiconductor is eyeing a second facility in Japan's Kumamoto region, considering a $13.5 billion investment after its first $8.6 billion wafer factory there.



Additionally, the company intends to establish a third advanced chip plant valued at $20 billion in Kumamoto to produce 3-nanometer chips.



Taiwan Semiconductor stock is up 86% year-to-date.



Price Actions: TSM stock is down -2.57% at $186.01 at the last check on Friday.



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