KB Home (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBH#NYSE">KBH</a>) reported first-quarter financial results Monday after the bell. Here&#8217;s a look at the key metrics from the quarter.



Q1 Earnings: KB Home reported first-quarter revenue of $1.39 billion, missing analyst&nbsp;<a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">estimates</a>&nbsp;of $1.50 billion. The U.S. homebuilder&nbsp;reported first-quarter earnings of $1.49 per share, missing analyst estimates of $1.59 per share, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.



Total revenue was down 5% year-over-year. KB Home delivered 2,770 homes in the quarter, down 9% year-over-year. The average selling price was $500,700, up 4% year-over-year, but net orders declined 17% year-over-year to 2,772.



KB Home said it repurchased $50 million worth of its common stock during the quarter. The company had $650 million remaining under its buyback program as of Feb. 28. KB Home ended the period with $267.8 million in cash and cash equivalents.



&#8220;Consumers are working through affordability concerns and uncertainties related to macroeconomic and geopolitical issues, which are causing them to move slowly in their homebuying decisions,&#8221; said&nbsp;Jeffrey Mezger, chairman and CEO of KB Home.



&#8220;Demand at the start of this Spring&#8217;s selling season was more muted than what we have seen historically, despite a healthy level of traffic in our communities.&#8221;



KB Home announced that it appointed Robert Dillard as the company&#8217;s executive vice president and CFO, effective March 31.



Outlook: KB Home expects full-year 2025 housing revenue to be in the range of $6.6 billion to $7 billion. The company anticipates 2025 average selling prices of $480,000 to $495,000.



&#8220;In mid-February, we took steps to reposition our communities to offer the most compelling value, and buyers responded favorably to these adjustments. Although we missed our sales goals for the&nbsp;first quarter, we are encouraged by the significant improvement in weekly sales and normalizing absorption pace over the last five weeks,&#8221; Mezger said.



KB Home said it will provide guidance for the second quarter on its earnings call, which is set for 5 p.m. ET.



KBH Price Action: <a href="https://www.benzinga.com/quote/KBH" target="_blank" rel="noreferrer noopener">KB Home shares</a> were down 9.05% after hours, trading at $56.20 at the time of publication Monday, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.



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<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44418891/us-home-sales-jump-in-february-median-price-nears-400000-next-big-move-could-shock-everyone-analysts-say">US Home Sales Jump In February, Median Price Nears $400,000: &#8216;Next Big Move Could Shock Everyone,&#8217; Analysts Say</a></li>
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KB Home Q1 Earnings: Revenue Miss, EPS Miss, Demand 'More Muted' Than Expected, Buyers Responding Favorably To Value Pivot And More

President Donald Trump hinted at tariff relief for select nations in a White House appearance on Monday, while celebrating Hyundai Motor Co. (OTCPK: HYMLF) 's $21 billion investment push in Louisiana, a move that includes increased steel output and underscores growing foreign confidence <a href="https://www.benzinga.com/news/econ-s">in America&#8217;s manufacturing sector.</a>



Trump reiterated that reciprocal tariffs are expected to be announced on Apr. 2, but suggested some flexibility: "I may give a lot of countries breaks on tariffs," he said, adding that "not all tariffs will be included on April 2."



Trump&#8217;s remarks mark a significant twist in his tariff strategy, long defined by aggressive policies aimed at reducing the country&#8217;s trade deficits. 



"They've charged us so much that I'm embarrassed to charge them what they've charged us," Trump said. "But it'll be substantial."



<h3 class="wp-block-heading">New Tariffs Incoming, But Not for Everyone</h3>



Trump confirmed that new tariffs targeting foreign-made automobiles, chips and lumber will be unveiled "over the next days," though details remain limited. 



"We're going to get all those chip companies coming back," Trump said.



A separate 25% tariff on oil-importing nations trading with Venezuela, announced earlier on Monday, was also confirmed. 



The levy will be in addition to existing duties, Trump clarified. 



Trump dubbed the broader tariff push "Liberation Day," describing it as a turning point for the U.S. economy that would deliver "lower taxes and all the things that are good—and jobs, a lot of jobs."



<h3 class="wp-block-heading">Hyundai Commits $21B To US Manufacturing</h3>



Trump appeared alongside Louisiana Gov. Jeff Landry and Hyundai executive chair Euisun Chung to unveil the South Korean automaker's ambitious expansion in the United States. 



The centerpiece is a new steel plant in Louisiana expected to produce more than 2.7 million metric tons of steel annually and create about 1,400 jobs.



Hyundai will be exempted from tariff applications, Trump indicated. 



"This is the beginning of a lot of things happening," Trump said. "Hyundai is a great company. We have other great companies coming in… We're well into the $3 and $4 trillion mark [in investments], which has never happened to our country before."



The Hyundai steel facility is just one part of the company's broader U.S. strategy. In his Monday remarks, Chung said the firm is committing $6 billion to strengthen the American steel supply chain. 



A separate $8 billion EV manufacturing plant is opening this week in Georgia. Hyundai also plans to purchase $3 billion worth of U.S. liquefied natural gas.



Altogether, the company plans to invest $21 billion in the U.S. over the next four years.



Trump also highlighted major investment commitments from other companies such as Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>). 



"We're well into the $3 and $4 trillion mark [in investments], which has never happened to our country before," he said. "What it really means is jobs. We care about jobs."



<h3 class="wp-block-heading">Louisiana's Industrial Boom: 50 Billion In Projects</h3>



"I told them we would have a great president this year," Louisiana Gov. Jeff Landry, a staunch Trump ally, said. 



"It's not just promises, it's about action. We'll have $50 billion worth of construction projects going on in Louisiana. That is a record, Mr. President."



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



Wall Street advanced further during afternoon trading in New York amid reassuring Trump remarks on tariffs. The S&amp;P 500 index – tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) – was up 1.8%. 



Shares of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rallied 11%, while the broader the tech sector as tracked by the Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) soared 2%. 



Now Read: 



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<li><a href="https://www.benzinga.com/government/regulations/25/03/44461884/sp-500-rallies-on-best-day-in-2-months-as-recession-fears-ease-tesla-rockets-bitcoin-hits-88000-whats-driving-markets-monday">S&amp;P 500 Rallies On Best Day In 2 Months As Recession Fears Ease, Tesla Rockets, Bitcoin Hits $88,000: What&#8217;s Driving Markets Monday?</a></li>
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Trump Hints At Tariff 'Breaks,' Cheers Hyundai's $21B Bet With Louisiana Steel Plant Deal

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



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



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



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



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



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



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



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



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



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



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



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



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

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



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



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



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



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



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



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



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



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



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



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



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



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



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Tesla Showroom Targeted In Austin As Vandalism Escalates

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



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



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



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



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



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



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



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



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



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



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



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



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



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Major Indices</td><td>Price</td><td>Chg (%)</td></tr><tr><td> Russell 2000</td><td>2,104.07</td><td>2.3%</td></tr><tr><td> Nasdaq 100</td><td>20,160.42</td><td>2.1%</td></tr><tr><td> S&amp;P 500</td><td>5,762.34</td><td>1.7%</td></tr><tr><td> Dow Jones</td><td>42,589.04</td><td>1.4%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated at 12:20 p.m. ET</figcaption></figure>



According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:



<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 1.8% to $573.92.</li>



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



<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;rallied 2% to $490.39.</li>



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



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



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



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



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



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



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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/03/44458099/us-economy-faces-fork-in-the-road-is-yardenis-roaring-2020s-still-possible">US Economy Faces &#8216;Fork In The Road&#8217;: Is Yardeni&#8217;s &#8216;Roaring 2020s&#8217; Still Possible?</a></li>
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S&P 500 Rallies On Best Day In 2 Months As Recession Fears Ease, Tesla Rockets, Bitcoin Hits $88,000: What's Driving Markets Monday?

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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



Now Read: 



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



Image: Shutterstock

Analyst Color

Federal Reserve

Analyst Ratings

AMZN

GOOG

GOOGL

MSFT

NVDA

EXMAGS

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

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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



Read Next: 



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



Image created using artificial intelligence via Midjourney.

Technicals

Trading Ideas

BYDDF

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

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



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



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



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



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



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



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



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



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



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



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



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



Image via Shutterstock



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



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

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

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



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



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



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



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



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



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



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



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



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



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



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



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



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



Read Next: 



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



Image: Shutterstock

Cryptocurrency

$DOGE

$ETH

$SOL

$XRP

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

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



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



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



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Nasdaq 100</td><td>1.10%</td></tr><tr><td>S&amp;P 500</td><td>0.90%</td></tr><tr><td>Dow Jones</td><td>0.70%</td></tr><tr><td>Russell 2000</td><td>1.00%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF, which track the S&amp;P 500 index and Nasdaq 100 index, respectively, gained in premarket on Monday. The SPY was up 1.06% to $569.98, while the QQQ gained 1.29% to $486.32, according to<a href="https://pro.benzinga.com/dashboard"> Benzinga Pro</a> data.



Cues From Last Session:



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



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



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



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



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



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>0.52%</td><td>17,784.05</td></tr><tr><td>S&amp;P 500</td><td>0.082%</td><td>5,667.56</td></tr><tr><td>Dow Jones</td><td>0.076%</td><td>41,985.35</td></tr><tr><td>Russell 2000</td><td>-0.56%</td><td>2,056.98</td></tr></tbody></table></figure>



Insights From Analysts:



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



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



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



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



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



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



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



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



Upcoming Economic Data



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



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



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



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



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



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



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



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



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



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



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



Stocks In Focus:



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



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



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



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



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



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



Commodities, Gold And Global Equity Markets:



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



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



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



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



European markets were similarly mixed in early trade.



Read Next:



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



Photo courtesy: Shutterstock

Futures

Pre-Market Outlook

AZEK

EPAC

LUNR

MLGO

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

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



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



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



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



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">No more loans to babies or people too old to be alive (ie stolen Social Security numbers) <a href="https://t.co/m4QFdOTZ8k">https://t.co/m4QFdOTZ8k</a>&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1904030373899616736?ref_src=twsrc%5Etfw">March 24, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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



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



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



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



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



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">They're not even hiding it: By cutting phone lines and closing offices, Republican billionaires are setting up Social Security for failure. And when your check doesn't show up, there will be no one to call. This is their plan to end Social Security. <a href="https://t.co/VEmpu8vune">pic.twitter.com/VEmpu8vune</a>&mdash; Adam Schiff (@SenAdamSchiff) <a href="https://twitter.com/SenAdamSchiff/status/1903536936901578914?ref_src=twsrc%5Etfw">March 22, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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



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



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



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



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



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



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I bet <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> hits $110k before it retests $76.5k. Y? The Fed is going from QT to QE for treasuries. And tariffs don't matter cause "transitory inflation". JAYPOW told me so. I'll expound on that in my next essay, that's the TLDR for your TikTok peanut brain.&mdash; Arthur Hayes (@CryptoHayes) <a href="https://twitter.com/CryptoHayes/status/1904000755381760058?ref_src=twsrc%5Etfw">March 24, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also: <a href="https://www.benzinga.com/trading-ideas/movers/25/03/44451478/bitcoin-ethereum-dogecoin-rise-as-white-house-official-hints-at-gold-powered-btc-purchases-analyst-says-watch-out-for-these-key-btc-levels">Bitcoin, Ethereum, Dogecoin Rise As White House Official Hints At Gold-Powered BTC Purchases: Analyst Says Watch Out For These Key BTC Levels</a>



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



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



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



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

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

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