Canadian Prime Minister Justin Trudeau could speak to President-elect Donald Trump about the potential negative impacts of his proposed 25% tariff plan on American and Canadian citizens.



What Happened: Trudeau and Trump had a high-stakes dinner at Mar-a-Lago on Friday, <a href="https://edition.cnn.com/2024/11/29/politics/donald-trump-justin-trudeau-dinner/index.html">reported</a> CNN, citing a source familiar with the meeting.



This meeting is taking place shortly after Trump announced his plans to significantly increase tariffs on goods from Mexico and Canada, starting from the first day of his administration.



During a morning conference, Trudeau voiced his concerns, stating, &#8220;Our responsibility is to point out that in this way he would be actually not just be harming Canadians, who work so well with the U.S.; he'd actually be raising prices for American citizens as well and hurting American industry and businesses.&#8221;



See Also: <a href="https://www.benzinga.com/24/11/42231794/mark-cuban-says-his-doors-are-open-for-musk-and-ramaswamy-can-doge-leverage-his-cost-plus-drug-company-to-transform-federal-healthcare-programs?itm_source=parsely-api">Will Mark Cuban Join Rivals Elon Musk, Vivek Ramaswamy&#8217;s DOGE? &#8216;Shark Tank&#8217; Host Says &#8216;Both Know How To Reach Me&#8217;</a>



Trump&#8217;s proposed tariffs could disrupt America&#8217;s supply chains and industries that rely on goods from its closest trading partners.



The two leaders had a brief call focused on border security and trade after Trump&#8217;s announcement, which a senior Canadian government source described as productive, the report noted.



During Trump&#8217;s first administration, the U.S. and Canada had a strained relationship, especially on trade issues.



Trump used tariffs against Canada during negotiations over replacing the North American Free Trade Agreement. It remains unclear how Trump plans to implement the proposed tariffs without violating the USMCA.



Why It Matters: Trump&#8217;s tariff announcement <a href="https://www.benzinga.com/24/11/42178994/trump-says-he-will-impose-25-tariffs-on-canada-mexico-on-first-day-of-office-and-extra-tariffs-on-china-until-they-pay-attention">came in response</a> to what he described as an &#8220;invasion&#8221; due to the increasing number of people crossing the borders from Mexico and Canada into the U.S.



According to Goldman Sachs, Trump&#8217;s tariff proposal could cause <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42202496/goldman-sachs-expects-major-selloffs-in-canadian-dollar-mexican-peso-says-trump-tariffs-threaten-usmca-agreement">significant fallout for</a> trade flows, exchange rates, and consumer prices. Mexico, Canada, and China collectively make up 43% of U.S. goods imports.



In response to Trump&#8217;s threats, Canada has also reportedly started preparing for <a href="https://www.benzinga.com/24/11/42225506/canada-prepares-retaliatory-tariffs-as-trumps-threat-looms-analysts-warn-of-further-loonie-weakness">potential retaliatory tariffs</a> on U.S. goods.



Analysts have also warned that the <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42240108/trump-tariffs-could-hit-pockets-of-consumers-retailers-urge-customers-to-shore-up-purchases-experts-warn-a-stronger-dollar-might-still-not-make-up-for-deficit">proposed tariffs could lead</a> to a stronger dollar, affecting consumers and businesses alike.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/general/entertainment/24/11/42223923/trump-hhs-pick-robert-f-kennedy-jr-s-wealth-comes-from-family-law-practice-oil-bitcoin?itm_source=parsely-api">Trump HHS Pick Robert F. Kennedy Jr.&#8217;s Wealth Comes From Family, Law Practice, Oil, Bitcoin</a></li>
</ul>



Disclaimer: 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.



Photo courtesy: Shutterstock

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Canadian PM Justin Trudeau Warns Trump's 25% Tariff Plan Will Hurt Americans At High-Stakes Dinner

Amazon.com Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) has shifted its focus from Cyber&nbsp;Monday to Black Friday for the second year in a row and is reaping the benefits of this move, according to&nbsp;Deepwater Asset Management's Gene Munster.



This strategic pivot aligns with Amazon&#8217;s tradition of creating its own sales events, such as Prime Day.



What Happened: Munster notes that potential changes to tariffs, especially to the rule on import duty on products valued at over $800, could adversely affect Amazon.



<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">Today is the second year that Amazon has shifted its focus from Cyber Monday to Black Friday. Their strategy of making their own weather (Prime Day Summer 2015, Prime Day Fall 2022, NFL Black Friday Game 2023) has been working. Before I jump in, I want to mention that…&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1862499280885293414?ref_src=twsrc%5Etfw">November 29, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Despite this, the retail sector is gaining momentum, with sales growth accelerating over the past eight quarters. Paid units have risen from 8% in December&nbsp;2022 to 12% in September.



Retail profitability is also improving. Although Amazon does not disclose specific retail operating margins, Munster estimates an improvement from a negative&nbsp;3% two years ago to&nbsp;a positive 5% in the latest quarter.



He suggests that further improvements to 7% in 2025 could significantly boost earnings per share to $7.15, compared to current expectations of $6.15.



See Also:&nbsp;<a href="https://www.benzinga.com/trading-ideas/movers/24/11/42237636/bitcoin-ethereum-dogecoin-simmer-down-on-thanksgiving-analyst-sees-significant-shift-from-btc-season-to-alt-season?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Simmer Down On Thanksgiving: Analyst Sees &#8216;Significant Shift&#8217; From BTC Season To Alt Season</a>



This improvement could position Amazon&#8217;s stock to trade at a forward multiple similar to other tech giants like&nbsp;Microsoft Corp.,&nbsp;Apple Inc., and&nbsp;NVIDIA Corp.



Why It Matters: The shift to Black Friday comes amid a&nbsp;<a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42244324/black-friday-frenzy-shoppers-queue-for-taylor-swift-merch-retro-gadgets-and-more-">frenzied shopping season</a>, with retailers across the U.S. and Europe rolling out deals to attract bargain hunters.



Stores opened as early as 5 a.m. following Thanksgiving, despite a shortened shopping season. This strategic timing is crucial as the holiday shopping season has been reshaped, with consumers making purchases earlier due to ongoing discounts.



Additionally, the potential impact of&nbsp;<a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42240108/trump-tariffs-could-hit-pockets-of-consumers-retailers-urge-customers-to-shore-up">proposed tariffs</a>&nbsp;by the incoming Trump administration could create economic challenges. Analysts warn that these tariffs, aimed at addressing trade imbalances, might inadvertently lead to a stronger dollar, affecting both consumers and businesses.



Despite these challenges, the Black Friday to Cyber Monday period is expected to break sales records, with U.S. retail sales <a href="https://www.benzinga.com/news/retail-sales/24/11/42225933/black-friday-cyber-monday-shopping-set-to-break-sales-records">projected to reach $75 billion</a>, marking a 5% year-over-year growth. This underscores the importance of this key shopping period for retailers, as highlighted by&nbsp;Bain &amp; Company.



Price Action: Amazon stock closed at $207.89 on Friday, up by 1.05%. Year-to-date, Amazon's shares have gained nearly 39%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.



The consensus analyst rating on the Amazon stock is currently "Buy," according to Benzinga Pro. The highest price target is $285, while the lowest is $197. At a consensus price target of $238.16, data shows there is an upside of 14.6%.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/11/42231266/gop-megadonor-ken-griffin-slashes-citadels-palantir-stake-by-91-bets-big-on-nvidia-as-jensen-huang-led-company-rises-over-180-in-2024?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">GOP Megadonor Ken Griffin Slashes Citadel&#8217;s Palantir Stake By 91%, Bets Big On Nvidia As Jensen Huang-Led Company Rises Over 180% In 2024</a></li>
</ul>



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



Photo courtesy: Shutterstock

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Amazon's Focus Shift To Black Friday From Cyber Monday Is Paying Off, Says Gene Munster: 'Small Changes To Profitability Can Have Measurable Impact To Earnings'

<h2 class="wp-block-heading">WAMCO&#8217;s Ken Leech Charged With Fraud For Allegedly ‘Cherry-Picking' Trades</h2>



The Securities and Exchange Commission (SEC) on Monday announced fraud <a href="https://www.sec.gov/newsroom/press-releases/2024-187">charges against </a>Stephen Kenneth ("Ken") Leech, the former co-chief investment officer of Western Asset Management Company LLC or WAMCO, owned by Franklin Resources, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEN#NYSE">BEN</a>).&nbsp;



The SEC's complaint alleges that Leech engaged in a multi-year scheme to allocate favorable trades to certain portfolios, while allocating unfavorable trades to other portfolios in a practice known as "cherry-picking" from at least January 2021 through October 2023.&nbsp;



The SEC claims Leech placed trades with brokers and then waited until later in the trading day to allocate the trades among clients in the portfolios he managed. According to the complaint, Leech's delay between placing and allocating trades allowed him the opportunity to observe price movements, and then disproportionately allocate profitable trades to favored portfolios and unprofitable trades to disfavored portfolios.&nbsp;



"This alleged behavior is an egregious abuse of power," said Andrew Dean, Co-Chief of the Division of Enforcement's Asset Management Unit. "By hand-picking trades and sending them to portfolios he favored, Leech allegedly stood to profit personally and professionally."



The complaint alleges that Leech allocated hundreds of millions of dollars in gains to favored portfolios, which also benefited Leech personally, and allocated a similar amount of losses to disfavored portfolios.&nbsp;



Leech received annual <a href="https://www.bloomberg.com/news/articles/2024-11-25/ken-leech-sued-by-sec-over-alleged-cherry-picking-scheme?fromMostRead=true&amp;sref=TBDibEcD">bonuses </a>ranging from $28 million to $30 million per year between 2018 and 2020, and $21 million in 2022, the SEC said, per Bloomberg.&nbsp;



In a parallel action, the U.S. Attorney's Office for the Southern District of New York also announced charges against Leech. The SEC said its investigation remains ongoing.&nbsp;



<h2 class="wp-block-heading">SEC Enforcement Results for Fiscal Year 2024</h2>



Last Friday, the SEC released its<a href="https://www.sec.gov/newsroom/press-releases/2024-186"> enforcement results</a> for fiscal 2024 and said that it filed 583 total enforcement actions during the year. The agency also obtained orders for $8.2 billion in financial remedies, the highest amount in SEC history.



The $8.2 billion in financial remedies consisted of $6.1 billion in disgorgement and prejudgment interest, also the highest amount on record, and $2.1 billion in civil penalties, the second-highest amount on record.&nbsp;



More than half &#8211; 56% &#8211; of the $8.2 billion financial remedies ordered is attributable to a monetary judgment obtained following the SEC's<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40809382/terraform-labs-historic-4-5b-settlement-with-sec-makes-2024-the-most-penalized-year-for-cr"> trial win</a> against Terraform Labs and Do Kwon.&nbsp;



"The Division of Enforcement is a steadfast cop on the beat, following the facts and the law wherever they lead to hold wrongdoers accountable," said SEC Chair Gary Gensler. "As demonstrated by this year's results, the Division helps promote the integrity of our capital markets to benefit investors and issuers alike."



Read Next: <a href="https://www.benzinga.com/news/retail-sales/24/11/42170721/thanksgiving-dinner-gobbles-up-19-more-cash-this-year-many-holiday-hosts-already-regret-their-decision">Thanksgiving Dinner Gobbles Up 19% More Cash This Year, Many Holiday Hosts &#8216;Already Regret Their Decision&#8217;</a>



Image: Simon Jhuan via Shutterstock

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Financial Crime Weekly: WAMCO's Ken Leech Charged With Fraud, SEC Announces Annual Enforcement Results

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 Dow rose 1.4% this week, lifting its November gain to 7.5%, while the S&amp;P 500 and Nasdaq Composite advanced 1.1%, ending the month up over 5% and 6%, respectively, marking the Dow and S&amp;P 500's best months of 2024. 



In a shortened trading week, President-elect Donald Trump shook markets by announcing a 25% tariff on imports from Mexico and Canada and a 10% hike on Chinese goods, aiming to address drug trafficking and illegal immigration. 



The Mexican peso and Canadian dollar tumbled to multi-year lows before stabilizing as investors reassessed the potential impact. Despite trade war concerns, broader equity markets remained strong, with small-cap stocks, tracked by the iShares Russell 2000 ETF, surging <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42250351/trumps-proposed-tariffs-target-mexico-canada-us-automakers-wall-street-shrugs-off-concerns-soars-to-record-highs-this-week-in-the-markets">to fresh all-time highs</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/trading-ideas/long-ideas/24/11/42200429/elon-musk-is-responsible-for-palantir-stock-rally-jim-cramer-says">Elon Musk Is Responsible For Palantir Stock Rally, Jim Cramer Says</a>,&#8221; by <a href="https://www.benzinga.com/author/adam-eckert">Adam Eckert</a>, highlights Jim Cramer attributing Palantir Technologies Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) 275% YTD rally to Elon Musk's influence in the Department of Government Efficiency, which is expected to bolster Palantir's defense-related AI business.



&#8220;<a href="https://www.benzinga.com/24/11/42176396/amazon-anthropic">Amazon&#8217;s $8 Billion Investment In AI Developer Anthropic &#8216;Mutually Beneficial,&#8217; Says Analyst</a>,&#8221; by <a href="https://www.benzinga.com/author/erica-kollmann">Erica Kollmann</a>, reports on Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) expanding its AI partnership with Anthropic through an $8 billion investment, as a BofA Securities analyst highlights benefits for both, including enhanced AWS capabilities and cost savings for Anthropic's model training using Amazon&#8217;s custom Trainium chips.



&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42208108/surge-in-bitcoin-dogecoin-and-other-cryptos-boosting-home-ownership-among-low-income-americans-says-treasury-department">Surge In Bitcoin, Dogecoin And Other Cryptos Boosting Home Ownership Among Low-Income Americans, Says Treasury Department</a>,&#8221; by <a href="https://www.benzinga.com/author/aniket-verma">Aniket Verma</a>, highlights a U.S. Treasury report linking gains in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) to increased homeownership among low-income households, with areas heavily invested in crypto seeing homeownership rise from 4.1% in 2020 to 15.4% in 2024.



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



<a href="https://www.benzinga.com/24/11/42176317/exclusive-small-caps-hit-records-yet-russell-2000-is-still-very-discounted-relative-to-the-sp-500-expert-says">EXCLUSIVE: Small Caps Hit Records As Expert Says Russell 2000 &#8216;Still Very Discounted&#8217; Compared To S&amp;P 500</a>



<a href="https://www.benzinga.com/media/24/11/42168509/amd-teams-up-with-taiwan-semi-to-take-on-samsung-in-smartphone-market">AMD Teams Up With Taiwan Semi To Take On Samsung In Smartphone Market</a>



<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42170135/its-the-most-wonderful-time-of-the-year-for-the-stock-market-history-says">&#8216;It&#8217;s The Most Wonderful Time Of The Year&#8217; For The Stock Market, History Says</a>



The Bears



&#8220;<a href="https://www.benzinga.com/24/11/42181771/rivian-ceo-tesla-exec-slam-restrictions-on-direct-to-customer-sales">Rivian CEO, Tesla Exec Slam Restrictions On Direct-To-Customer Sales: RJ Scaringe Says It Is &#8216;As Close As You Can Get To Corruption&#8217;</a>,&#8221; by <a href="https://www.benzinga.com/author/anan-ashraf">Anan Ashraf</a>, highlights Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) CEO RJ Scaringe and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) executive Sendil Palani criticizing state laws barring direct-to-consumer sales, calling them anti-competitive and driven by dealer-backed lobbying, with Scaringe describing the system as "close to corruption."



&#8220;<a href="https://www.benzinga.com/general/health-care/24/11/42168118/pharma-bro-martin-shkreli-tells-investors-to-short-sava-stock-falls-over-80-after-phase-3-update">‘Pharma Bro' Martin Shkreli Tells Investors To ‘Short SAVA,' Stock Falls Over 80% After Phase 3 Update</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, details Martin Shkreli's accurate prediction of an 80% drop in Cassava Sciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAVA#NASDAQ">SAVA</a>) stock after Phase 3 results for its Alzheimer's drug Simufilam failed to meet primary endpoints, leading to widespread investor disappointment.



&#8220;<a href="https://www.benzinga.com/news/small-cap/24/11/42170206/nano-nuclear-stock-plunges-after-60-million-private-placement-offering-details">Nano Nuclear Stock Plunges After $60 Million Private Placement Offering: Details</a>,&#8221; by <a href="https://www.benzinga.com/author/lekha-gupta">Lekha Gupta</a>, reports Nano Nuclear Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNE#NASDAQ">NNE</a>) stock dropped following a $60 million private placement involving 2.5 million shares at $24.00 each and 2.5 million warrants at $26.00, raising cash reserves to over $120 million to support microreactor advancements and strategic growth plans.



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



<a href="https://www.benzinga.com/news/global/24/11/42180906/larry-summers-warns-trump-policies-could-trigger-far-larger-stimulus-to-inflation-than-bidens-actions-as-sp-500-surges-markets-go-up-markets-go-down">Larry Summers Warns Trump Policies Could Push Prices Higher Than Biden&#8217;s Actions: Markets Not A Good Predictor Of Inflation</a>



<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42180180/peter-schiff-warns-trumps-bitcoin-support-could-lead-to-economic-chaos-make-america-weaker-as-wall-street-misallocates-bigly">Peter Schiff Warns Trump&#8217;s Bitcoin Support Could Lead To Economic Chaos, Make America &#8216;Weaker&#8217; As Wall Street Misallocates &#8216;Bigly&#8217;</a>



<a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42202496/goldman-sachs-expects-major-selloffs-in-canadian-dollar-mexican-peso-says-trump-tariffs-threaten-usmca-agreement">Goldman Sachs Expects Major Selloffs In Canadian Dollar, Mexican Peso, Says Trump Tariffs Threaten USMCA Agreement</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>.



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Benzinga Bulls And Bears: Amazon, Tesla, Rivian, Palantir And How Dogecoin Helped Low-Income Families Achieve Homeownership

The U.S. division of Stoli Group hopes to get a deal under <a href="https://www.benzinga.com/topic/bankruptcy">Chapter 11 bankruptcy protection</a>. 



The company applied on Nov. 27 to the U.S. Bankruptcy Court in the Northern District of Texas. 



Stoli Group USA, based in New York, and Kentucky Owl American whiskey business plan to restructure all assets, valued up to $500 million. See below. 



<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">Stoli Group USA Files Chapter 11 with Up to $500M in Assets, Affiliate Kentucky Owl Joins Restructuring BANKRUPTCY FILING ALERT &#x1f6a8; Stoli Group (USA), LLC Chapter 11 &#8211; Northern District of Texas Filed: 11/27/2024 Case No. 24-80146 &#x1f4ca; Assets: $100M-$500M &#x7C; Liabilities:… <a href="https://t.co/TSZG8Hcd3e">pic.twitter.com/TSZG8Hcd3e</a>&mdash; RK &#x7C; Consultants (@_RKConsultants) <a href="https://twitter.com/_RKConsultants/status/1861924768653390088?ref_src=twsrc%5Etfw">November 28, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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



<ul>
<li>Ally Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>) is auctioning off its credit card unit after just three years of ownership, per <a href="https://www.bloomberg.com/news/articles/2024-11-22/ally-financial-is-said-to-weigh-sale-of-credit-card-business?srnd=phx-deals">Bloomberg</a>. The Detroit-based auto lender acquired the segment in 2021 for $750 million. </li>



<li>D.W. Shaw hired Alantra Partners to run the sale process for its Spanish non-performing loans and real estate assets, <a href="https://www.bloomberg.com/news/articles/2024-11-22/d-e-shaw-is-seeking-to-sell-400-million-in-spanish-assets?srnd=phx-deals">Bloomberg</a> reports. The value of the portfolio is roughly €380 million (US$402 million). </li>



<li>Mumbai-based Edelweiss Financial Services of India hired Nomura to find a buyer for a minority stake in its mutual fund business, which could have a total valuation of $700 million to $800 million, according to <a href="https://economictimes.indiatimes.com/mf/mf-news/edelweiss-hires-nomura-for-mutual-fund-unit-stake-sale/articleshow/115646343.cms?from=mdr">the Economic Times</a>.</li>
</ul>



See Also: <a href="https://www.benzinga.com/news/large-cap/24/11/42249801/fridays-top-5-trending-stocks-whats-going-on-with-smci-nvidia-microstrategy">Friday&#8217;s Top 5 Trending Stocks: What&#8217;s Going On With SMCI, Nvidia, MicroStrategy?</a>



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



<ul>
<li>The Container Store has been unable to ink a deal or find financing. According to <a href="https://www.cnn.com/2024/11/29/business/the-container-store-black-friday-shopping/index.html">CNN</a>, the Coppell, Texas-based company — known for selling bins — hoped for a $40 million financial lifeline from Beyond, the owner of Bed Bath &amp; Beyond and Overstock.com. But, the agreement hasn&#8217;t worked out and now the franchise is on the verge of bankruptcy, although it hasn&#8217;t filed yet. </li>
</ul>



<ul>
<li>Anglo American&nbsp;(LSE: AAL) agreed to sell its Australian steelmaking coal mines to Peabody Energy&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTU#NYSE">BTU</a>) <a href="https://www.benzinga.com/24/11/42166102/anglo-american-sells-coal-portfolio-for-38-billion-continues-restructuring">for about $3.8 billion</a>. This comes just days before mining giant BHP Group Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>) is allowed to renew its takeover efforts for Anglo American.</li>
</ul>



<ul>
<li>Acquisition-hungry UniCredit (Milan: UCG) offered to acquire Italian lender Banco BPM (Milan: BAMI). The €10 billion offer was rejected, according to <a href="https://www.axios.com/2024/11/25/unicredit-italian-bank?utm_source=newsletter&amp;utm_medium=email&amp;utm_campaign=newsletter_axiosprorata&amp;stream=top">Axios</a>. UniCredit also wants to buy Germany-based Commerzbank.</li>
</ul>



<ul>
<li>Gold miner Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) sold its Éléonore mine in Quebec Tuesday to London-based Dhilmar <a href="https://www.benzinga.com/news/asset-sales/24/11/42202141/newmont-sells-mine-for-795-million-barrick-expands-reserves-top-miners-unfazed-by-underperformance">for $795 million in cash</a>. The sale follows Newmont's strategy to divest non-core assets following its milestone acquisition of Newcrest Mining in 2023. </li>
</ul>



<ul>
<li>Schneider National, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNDR#NYSE">SNDR</a>) disclosed that it has agreed to acquire Cowan Systems, LLC and its affiliates for approximately <a href="https://www.benzinga.com/news/mid-cap/24/11/42170700/schneider-expands-its-fleet-390-million-cowan-systems-deal-supercharges-dedicated-services">$390 million in cash</a>, subject to adjustments. The deal also includes a separate purchase of related real estate assets for $31 million. </li>
</ul>



For last week&#8217;s Deal Dispatch, <a href="https://www.benzinga.com/markets/commodities/24/11/42147945/deal-dispatch-starbucks-considers-china-sale-private-equity-bankrupts-snack-company-darwin-financial-talks-mining">click here</a>.



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<ul>
<li>Trump&#8217;s Proposed Tariffs Target Mexico, Canada, US Automakers; Wall Street Shrugs Off Concerns, Soars To Record Highs: This Week In The Markets</li>
</ul>



Image: Benzinga

Asset Sales

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Deal Dispatch: Stoli On The Rocks As US Business Goes Bankrupt, Ally Financial To Sell Credit Card Unit

JPMorgan Chase is all in on artificial intelligence. The bank's CEO, Jamie Dimon, is leading the charge. He is described as a <a href="https://www.benzinga.com/24/03/37610586/after-saying-ai-is-not-hype-jpmorgans-jamie-dimon-reveals-how-he-personally-and-professionally-uses">"tremendous user" of the tech</a> and, apparently, he's eager to use it on his phone.



"He's been desperate to get it on his phone," said Teresa Heitsenrether, JPMorgan's chief data and analytics officer. Speaking at the Evident AI Symposium, as reported by Business Insider, she added, "That's a big deliverable before the end of the year."



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JPMorgan recently launched its "LLM Suite," a generative AI tool, to 200,000 employees. These tools are already making waves. Before business reviews with Dimon, Heitsenrether runs her presentation through AI to refine the message. "What is the message coming out of this? Make it more concise. Make it clear," she explained. "It certainly has helped with that."



The AI rollout is just the first step in <a href="https://www.benzinga.com/news/24/04/38149277/jamie-dimon-equates-ai-to-printing-press-steam-engine-consequences-will-be-extraordinary">JPMorgan's broader </a>AI strategy, which Dimon likened earlier this year to the steam engine and the printing press, saying its "consequences will be extraordinary." The bank aims to take employees from "five minutes of efficiency to five hours of efficiency," Heitsenrether said. This means moving beyond tasks like summarizing documents and integrating AI into daily workflows.



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>



The response to AI at JPMorgan has been "enthusiastic," sparking "healthy competition" between teams. The wealth and asset management division was the first to test a generative AI "copilot" this summer. Naturally, other teams wanted in. "When the investment bank found out, they said, ‘Well, wait a minute, we want to be on there too,'" Heitsenrether said. "It does create a flywheel effect."



To help employees adapt to AI, JPMorgan offers training and has created "superusers"—the top 10% to 20% of employees eager to adopt the tech. These superusers act as local experts within their teams.



The most common early adopters are people who immediately see the benefits, like lawyers using AI to summarize contracts in minutes instead of hours.



Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a>



Still, not everyone's on board. Heitsenrether acknowledged "pockets of resistance." But she emphasized that the sooner people engage with AI, the faster they see its potential. "Having it in your hands, I think, demystifies it quite a lot," she said.



JPMorgan isn't stopping here. By next year, Heitsenrether hopes employees will have personal AI assistants tailored to their specific roles.



However, the bank recognizes this is just the beginning. AI systems still need a "human in the loop" to verify their outputs, said Sumitra Ganesh, a member of JPMorgan's AI research team. "It's like training wheels," she said. "At some point, we will be confident enough to let them go."



For now, Jamie Dimon's phone is waiting.



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Startups

Jamie Dimon Is 'Desperate' for AI On His Phone, Expands JPMorgan AI Adoption To All Staff

World&#8217;s richest person Elon Musk has expressed his agreement with Apple Inc.'s legendary co-founder Steve Jobs&#8217; on what the most important job of a CEO of a company is.



What Happened: Earlier this month, Startup Archive shared an old clip of Jobs where he underscored that the most important job of a CEO is recruiting, not managing.



"The greatest people are self-managing. They don't need to be managed…&#8221; Jobs said. &#8220;What they need is a common vision, and that's what leadership is.&#8221;



&#8220;Leadership is having a vision, being able to articulate that so the people around you can understand it, and getting consensus on a common vision."



The former Apple CEO believed that once a strong core team is in place, it becomes self-sustaining and ensures only exceptional talent is brought in.



See Also:&nbsp;<a href="https://www.benzinga.com/markets/24/11/42210862/nvidias-journey-to-the-top-with-3-5-trillion-market-capitalization-how-the-ai-chip-giant-transformed-post-covid?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia's Journey To The Top With $3.5 Trillion Market Capitalization: How The AI Chip Giant Transformed Post-COVID</a>



Responding to this perspective, Musk, known for <a href="https://www.benzinga.com/news/24/03/38013068/tesla-ceo-elon-musk-reacts-to-apple-co-founder-steve-jobs-on-finding-top-talent-you-build-up-these-p">his admiration of Jobs</a>, commented, &#8220;Couldn&#8217;t agree more,&#8221; reaffirming his own leadership philosophy.



<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">Couldn't agree more <a href="https://t.co/Y9k17r9q2Y">https://t.co/Y9k17r9q2Y</a>&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1855572939585843610?ref_src=twsrc%5Etfw">November 10, 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: Musk previously also highlighted his <a href="https://www.benzinga.com/news/24/06/39393059/elon-musk-agrees-with-legendary-apple-co-founder-steve-jobs-on-thinker-doers-the-doers-are-the-major">alignment with Jobs&#8217;s remark</a> that those who take action are also the greatest thinkers.



Musk also echoed the sentiments of the late Apple co-founder, who once spoke about the importance of <a href="https://www.benzinga.com/news/24/04/38178568/elon-musk-reacts-to-old-clip-of-apple-co-founder-steve-jobs-saying-theres-a-tremendous-amount-of-cra">fostering a team culture</a> dedicated to transforming innovative ideas into successful products.



However, the Tesla CEO once also took a swipe at Jobs for reportedly contributing to <a href="https://www.benzinga.com/news/24/06/39126810/elon-musk-mocks-steve-jobs-apples-potential-deal-with-openai-siris-ai-overhaul-and-more-this-week-in">Apple's hesitation to adopt</a> open-source technologies.



Walter Isaacson, who has <a href="https://www.benzinga.com/news/23/10/35256969/elon-musk-vs-steve-jobs-walter-isaacson-delves-into-the-minds-of-two-tech-titans">penned biographies</a> of both Musk and Jobs, said that both leaders shared a &#8220;dark streak&#8221; characterized by brutally honest feedback that pushed their teams toward excellence.



While this approach spurred innovation, it occasionally veered into excessive criticism.



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>.



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



Photos courtesy: Shutterstock and Wikimedia

Elon Musk Agrees With Steve Jobs On The Most Important Job Of A CEO: Here's What The Legendary Apple Co-Founder Had To Say

In a significant move, MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) looks set to join the Nasdaq 100 index, prompting a major reconstitution of the index. This change, based on market cap rankings as of Nov. 29, will take effect after Dec. 20.



What Happened: According to&nbsp;a report <a href="https://seekingalpha.com/article/4740896-nasdaq-100-upcoming-index-reconstitution-could-be-a-major-event">by</a> Seeking Alpha, the inclusion of MicroStrategy, with its $94 billion market cap, will impact passive funds tracking the&nbsp;index, such as the Invesco&nbsp;QQQ Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NYSE">QQQ</a>) and&nbsp;the Invesco Nasdaq 100&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QQQM#NYSE">QQQM</a>).



These funds, along with&nbsp;the Global X Nasdaq 100&nbsp;Covered Call (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QYLD#NYSE">QYLD</a>), will need to adjust their holdings to include MicroStrategy by Dec. 20.



MicroStrategy&#8217;s entry into the NASDAQ 100 introduces Bitcoin exposure to passive investors, as the company holds&nbsp;nearly 2% of the Bitcoin&nbsp;supply. Known&nbsp;for issuing stock to purchase&nbsp;Bitcoin, MicroStrategy&#8217;s strategy could affect the index&#8217;s dynamics.



See Also: <a href="https://www.benzinga.com/24/11/42253242/microstrategys-michael-saylor-calls-bitcoin-the-manhattan-in-cyberspace-says-its-an-asset-you-could-expect-to-las">MicroStrategy's Michael Saylor Calls Bitcoin The ‘Manhattan In Cyberspace,' Says It's An Asset You Could Expect To ‘Last 1,000 Years'</a>



The reconstitution may result in increased turnover and potential tracking errors for ETFs, as they will need to rebalance their portfolios to accommodate MicroStrategy&#8217;s growing market cap. This unique situation could lead to strategic trading opportunities for investors.



Why It Matters: MicroStrategy&#8217;s potential inclusion in the NASDAQ 100 is a testament to its growing influence in the financial markets, particularly due to its aggressive Bitcoin strategy.



Recently,&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42160774/microstrategy-is-the-bitcoin-magnet-says-bernstein-but-not-everybodys-sold-nothing-is-free-in-finance-says-one-analyst">Bernstein</a>&nbsp;described MicroStrategy as a &#8220;Bitcoin magnet,&#8221; projecting it could hold 4% of the global Bitcoin supply by 2033. However, this strategy is not without risks, as some analysts caution about its long-term viability.



Additionally,&nbsp;Michael Saylor, co-founder of MicroStrategy, recently revealed that the company is generating substantial profits from its Bitcoin holdings, reportedly <a href="https://www.benzinga.com/24/11/42151809/michael-saylor-reveals-microstrategy-is-making-500m-a-day-with-bitcoin-may-very-well-be-the-most-profitable-company-in-the-us-growing-the-fastest-right-now">making $500 million a day</a> as Bitcoin nears $100,000.



This has contributed to a surge in MicroStrategy&#8217;s stock, which has increased by 465% year-to-date, significantly impacting ETFs linked to its performance, as noted in a&nbsp;<a href="https://www.benzinga.com/markets/equities/24/11/42208970/microstrategy-linked-etfs-skyrocket-400-this-year-is-this-the-michael-saylor-effect">recent report</a>.



MicroStrategy&#8217;s recent $3 billion offering of 0% convertible senior notes, completed swiftly, underscores <a href="https://www.benzinga.com/markets/equities/24/11/42186167/michael-saylors-microstrategy-convertible-notes-to-buy-bitcoin-offer-no-interest-so-why-are-investors-rushing-to-buy-them">investor confidence in its strategy</a>. These notes offer no interest but allow participation in the equity upside, reflecting the market&#8217;s appetite for exposure to MicroStrategy&#8217;s Bitcoin-driven growth.



Price Action: Bitcoin was hovering at $96,776 at the time of writing, up by 0.46% in the last 24 hours, according to Benzinga Pro data.



MicroStrategy&#8217;s stock closed at $387.47 on Friday, falling slightly by 0.35%. Year-to-date, the stock has gained 465%.



The MicroStrategy stock has a consensus rating of &#8220;Buy,&#8221; according to&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41683531/michael-saylor-calls-microstrategy-the-public-equity-play-on-bitcoin-maximalism-heres-whos" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>. The highest price target is $690, while the consensus price target is $449.50, implying a 16% upside.



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



Photo courtesy: MicroStrategy

ETFs

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MicroStrategy's Imminent Inclusion In Nasdaq 100 Could Reportedly Spark Up To $2B In Fund Inflows

Veteran investor&nbsp;Mark Mobius&nbsp;has highlighted U.S. tech firms with ties to emerging markets as prime investment opportunities for the upcoming year.



What Happened: In an interview <a href="https://www.cnbc.com/2024/11/29/buy-big-tech-firms-with-exposure-to-emerging-markets-mark-mobius.html">with</a> CNBC, Mobius,&nbsp;chairman of the Mobius Emerging&nbsp;Opportunities Fund, emphasized the potential of companies leveraging technology to boost productivity.



Mobius pointed out that U.S.-based companies focusing on markets like China and India are strategically positioned for growth.



"I focus on those companies that are global in their scope, and producing and exporting and selling in these countries, because that's where the growth will be."



Mobius also mentioned the significance of companies involved in&nbsp;&#8220;accelerated information,&#8221; such as chip&nbsp;manufacturers, which are benefiting from rapid information processing capabilities.



His observations come amid an economic surge in semiconductor-producing emerging markets, with Taiwan leading in advanced chip manufacturing. Southeast Asian nations, particularly Malaysia, are also seeing increased foreign investment due to their chip production focus.



See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42229486/joe-rogan-hasnt-sold-his-bitcoins-for-over-a-decade-conviction-based-hodling-or-private-key-loss?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Joe Rogan&#8217;s Bitcoin Pile Has Grown Over 30000% In Value, But He Hasn&#8217;t Sold: Conviction-Based HODLing Or Has The Podcast King Lost His Keys?</a>



Despite concerns of a tech bubble due to high valuations of major tech stocks like&nbsp;Alphabet Inc.,&nbsp;Amazon.com Inc., and&nbsp;Nvidia Corp., Mobius remains optimistic.



He believes the growth rates of these companies justify their valuations, and he expects continued strong performance from the &#8220;Magnificent Seven&#8221; tech giants.



Why It Matters:&nbsp;Mobius&nbsp;has been a staunch advocate for investing in emerging markets, particularly in Asia. In July 2023, he stated that <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/07/33454156/billionaire-investor-mark-mobius-puts-all-his-money-outside-us-im-all-international">he had no investments in the U.S.</a>, focusing entirely on international and emerging markets. This aligns with his current emphasis on U.S. tech firms with exposure to these regions.



Mobius has also <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40455099/veteran-investor-mark-mobius-warns-of-potential-risk-to-us-markets-amid-recent-vola">warned of potential risks</a> to U.S. markets amid recent volatility, noting a significant decline in the U.S. M2 money supply. This drop could impact discretionary spending, a key driver of economic growth.



Meanwhile, the surge in&nbsp;Nvidia&#8217;s stock has <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39773480/nvidias-stock-surge-raises-concentration-risks-for-investors-warns-analyst-not-smar">raised concerns</a> about concentration risks for investors. The company&#8217;s shares have skyrocketed, driven by high demand for its AI chips.



However, this rapid growth has led to increased holdings by asset managers, posing potential risks if the stock takes a downturn.



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



Photo courtesy: Wikimedia

Global

Mark Mobius Advocates For Big Tech Investments In Emerging Markets: 'That's Where The Growth Will Be'

Earlier this month, President-elect Donald Trump selected Elon Musk and Vivek Ramaswamy to lead the <a href="https://www.benzinga.com/24/11/41965420/department-of-government-efficiency-led-by-elon-musk-and-vivek-ramaswamy-opens-x-account-with-username-doge">newly formed Department</a> of Government Efficiency (DOGE).



DOGE&#8217;s mission is to identify opportunities for cost-cutting, aiming to reduce the federal budget by up to $2 trillion.



Musk and Ramaswamy are now reportedly tapping into the expertise of Silicon Valley's brightest minds. Here's a closer look at the leaders shaping this new initiative:



Vivek Ramaswamy



Ramaswamy is positioned at the helm of DOGE. After his run for the presidency in 2023, Ramaswamy shifted his focus to supporting Trump.



As co-leader of DOGE, he has highlighted &#8220;crowdsourcing&#8221; examples of waste and inefficiency, promising that Americans will have a voice in shaping the future of federal spending.



Ramaswamy&#8217;s story is captivating: the son of Indian immigrants, he transformed a bold biotech venture into a billion-dollar success by the time he was just 38. You can read about it <a href="https://www.benzinga.com/startups/24/11/42038767/im-one-of-you-how-anti-woke-warrior-vivek-ramaswamy-became-a-billionaire-at-only-38">here</a>.



See Also: <a href="https://www.benzinga.com/24/11/42231794/mark-cuban-says-his-doors-are-open-for-musk-and-ramaswamy-can-doge-leverage-his-cost-plus-drug-company-to-transform-federal-healthcare-programs">Will Mark Cuban Join Rivals Elon Musk, Vivek Ramaswamy&#8217;s DOGE? &#8216;Shark Tank&#8217; Host Says &#8216;Both Know How To Reach Me&#8217;</a>



Travis Kalanick



Kalanick, the former CEO of Uber Technologies, is no stranger to transforming industries. Known for his <a href="https://www.benzinga.com/general/entrepreneurship/24/06/39293049/one-of-americas-most-infamous-ceos">controversial leadership</a> at Uber, Kalanick's reputation as a disruptor aligns with DOGE's mission to shake up Washington's status quo.



He stepped down as Uber&#8217;s CEO in 2017 and resigned from its Board of Directors in 2019. He is now the CEO of City Storage Systems and leads the 10100 Fund.



Kalanick has reportedly been consulted by Musk and Ramaswamy on strategies to make federal government operations more efficient and responsive, <a href="https://www.businessinsider.com/doge-silicon-valley-leaders-elon-musk-donald-trump-vivek-ramaswamy-2024-11#vivek-ramaswamy-1">reported</a> Business Insider.



Earlier this year, there were rumors about Kalanick heading Tesla's robotaxi division, however, <a href="https://www.benzinga.com/news/24/07/39658817/elon-musk-denies-rumors-of-uber-co-founder-travis-kalanick-joining-tesla-to-lead-its-robotaxi-effort">Musk denied them</a>.&nbsp;



Marc Andreessen



Co-founder of Andreessen Horowitz, Andreessen is one of the <a href="https://www.benzinga.com/news/24/07/39813818/elon-musk-highlights-top-silicon-valley-investors-marc-andreessen-ben-horowitz-discussing-their-supp">most influential figures</a> in tech today. Established in 2009, Andreessen Horowitz has supported a range of companies, including OpenAI, Facebook, Airbnb, Anduril, Box, DoorDash, and GitHub.



In an episode of the Joe Rogan Experience podcast earlier this month, Andreessen made it clear that he sees Musk&#8217;s approach — focused on accountability and innovation — as a model for governmental efficiency.



He is also known for his sharp critique of government overreach, particularly when it comes to regulatory agencies like the SEC and FTC.&nbsp;



Last year, Andreessen and Musk <a href="https://www.benzinga.com/news/23/06/32978942/marc-andreessen-takes-a-dig-at-elon-musk-led-ai-camp-whats-really-happening-in-dc">clashed over demands</a> for strict AI regulations. Andreessen championed the idea of unrestricted AI development and market competition, believing they are essential to unlocking the technology's full potential.



Sriram Krishnan



Krishnan is a general partner at Andreessen Horowitz. He is another Silicon Valley leader reportedly in talks to join DOGE.&nbsp;



He has previously <a href="https://www.benzinga.com/news/22/12/30132350/who-could-be-the-next-twitter-ceo-after-elon-musk-a-look-at-7-potential-candidates">worked closely</a> with Musk during the Twitter takeover and has a background in managing high-growth companies like Meta Platforms, Inc. and Snap Inc.



Antonio Gracias



Gracias is a seasoned private equity executive who has been a <a href="https://www.benzinga.com/m-a/22/08/28562499/elon-musk-complains-about-twitter-hounding-him-for-chats-with-associates-outside-deal-scope-report">trusted ally of Musk</a> for years. Gracias played a key role in securing financing for Musk's $44 billion Twitter acquisition and has been integral to many of Musk's ventures, including Tesla.



Now, Gracias is reportedly advising on the strategic direction of DOGE.



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<li><a href="https://www.benzinga.com/news/24/11/41998717/elon-musk-and-vivek-ramaswamy-are-looking-for-high-iq-small-government-revolutionaries-who-are-willing-to-put-in-80-hours-at-doge">Elon Musk And Vivek Ramaswamy Are Looking For &#8216;High IQ Small-Government Revolutionaries&#8217; Who Are Willing To Put In 80+ Hours At DOGE</a></li>
</ul>



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.



Photos courtesy: Gage Skidmore on Flickr

Elon Musk's DOGE Dream Team: From Marc Andreessen To Uber's Travis Kalanick, Silicon Valley Titans Reportedly Join Forces To Overhaul Federal Spending

ChatGPT-parent OpenAI is facing a lawsuit in Canada from a coalition of news publishers, including The Canadian Press, Torstar, Globe and Mail, Postmedia, and CBC/Radio-Canada.



What Happened: The lawsuit claims that OpenAI&#8217;s ChatGPT system has been scraping content from Canadian media, violating copyright laws, <a href="https://apnews.com/article/canada-news-publishers-lawsuit-chatgpt-3e1790fcf4c9f001f1d32609c4d547af">reported</a> the Associated Press.



The publishers argue that OpenAI benefits financially from this <a href="https://www.benzinga.com/news/24/06/39443965/openai-and-anthropic-allegedly-ignore-web-scraping-rules-stirring-controversy">content without proper authorization</a> or compensation, undermining their investments in journalism.



They also stress the importance of adhering to legal standards and ensuring fair use of intellectual property. OpenAI, however, asserts that its models are trained on publicly available data and are based on fair use principles.



See Also: <a href="https://www.benzinga.com/markets/24/11/42210862/nvidias-journey-to-the-top-with-3-5-trillion-market-capitalization-how-the-ai-chip-giant-transformed-post-covid?itm_source=parsely-api">Nvidia&#8217;s Journey To The Top With $3.5 Trillion Market Capitalization: How The AI Chip Giant Transformed Post-COVID</a>



Why It Matters: This lawsuit is the first of its kind in Canada, although similar legal actions are <a href="https://www.benzinga.com/24/05/38545693/microsoft-openai-sued-by-newspaper-publishers-for-copyright-infringement-over-allegedly-generating-n">underway in the U.S</a>. Some news organizations have chosen to partner with OpenAI, securing compensation deals.



This includes OpenAI's deal with Condé Nast in August earlier this year, to incorporate <a href="https://www.benzinga.com/news/24/08/40477338/chatgpt-maker-openai-forges-content-partnership-with-vogue-and-new-yorker-publisher-cond-nast-amid-c">content from brands</a> like Vogue and The New Yorker into its products.&nbsp;



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.



Despite these challenges, OpenAI continues to expand its influence in the AI sector. In October, the AI startup raised $6.6 billion, reaching a <a href="https://www.benzinga.com/news/24/10/41149788/openai-valuation-soars-to-157b-in-latest-funding-round">valuation of $157 billion</a>.



Meanwhile, Canada has introduced legislation requiring tech giants like Alphabet Inc.'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 Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) to <a href="https://www.benzinga.com/news/23/06/33070917/after-meta-google-plans-to-cut-off-canada-from-news">pay news publishers</a>.



Earlier this week, Canada's Competition Bureau also initiated <a href="https://www.benzinga.com/24/11/42238248/google-faces-historic-antitrust-lawsuit-in-canada-demanding-sale-of-key-ad-tech-tools">legal proceedings against</a> Google, accusing the tech giant of engaging in anti-competitive practices within the online advertising sector.



Check out more of Benzinga&#8217;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/news/global/24/11/42179729/as-nvidia-maintains-chip-supremacy-jim-cramer-says-the-so-called-enemies-of-semiconductor-giant-arent-really-enemies" target="_blank" rel="noreferrer noopener">As Nvidia Maintains Chip Supremacy, Jim Cramer Says Foes Of Semiconductor Giant ‘Aren't Really Enemies'</a></li>
</ul>



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



Photo courtesy: Shutterstock

GOOG

OpenAI Faces Fresh Legal Battle As Canadian News Giants Sue ChatGPT-Maker Citing Violation Of Copyright Laws

Michael Saylor, executive chairman and co-founder of&nbsp;MicroStrategy&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), likened Bitcoin to &#8220;Manhattan in cyberspace,&#8221; describing it as a long-lasting asset in an interview on Wednesday.



What Happened:&nbsp;Saylor emphasized the unique nature of Bitcoin, highlighting its capped supply and its status as a global, digital commodity, in <a href="https://www.barrons.com/amp/articles/microstrategy-stock-michael-saylor-bitcoin-90e4cdc7">an</a> interview with Barron's.



"Bitcoin is actually a way to store value without a trusted intermediary. I'm putting my money in cyberspace, and I want to transform the capital from financial and physical to digital," Saylor said.



"It is indestructible, immortal, invisible, and you don't have all the things that drag down the value of a building. So think of it as Manhattan in cyberspace."



Saylor called the flow of money into Bitcoin to a flow of money from the 20th century to the 21st.



MicroStrategy&#8217;s strategy of leveraging Bitcoin has significantly impacted its stock performance. The company&#8217;s shares have surged 465% year-to-date, vastly outperforming the S&amp;P 500&#8217;s 27% gain.



Over the past two years, MicroStrategy&#8217;s stock has climbed an astonishing 1,773%, compared to the index&#8217;s 48% rise, according to Barron&#8217;s.



See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42232028/remember-james-howells-who-lost-his-hard-drive-with-8000-bitcoins-now-worth-760m-his-ex-girlfriend-reveals-it-was-she-who-threw-it-away?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Remember James Howells Who Lost His Hard Drive With 8,000 Bitcoins Now Worth $760M? His Ex-Girlfriend Reveals It Was She Who Threw It Away</a>



Saylor also discussed MicroStrategy&#8217;s capital-raising plan, which includes issuing stock to purchase Bitcoin. He stated that this approach allows the company to benefit from Bitcoin&#8217;s growth, which he believes yields more than the S&amp;P 500.



As for MicroStrategy's primary product, Saylor said it's now actually a &#8220;Bitcoin treasury company,&#8221; with its treasury operations significantly outpacing its software business in terms of earnings.



Why It Matters:&nbsp; Saylor&nbsp;has been a prominent advocate for Bitcoin, consistently promoting its potential as a valuable asset. In a recent interview, he revealed that&nbsp;MicroStrategy&nbsp;is <a href="https://www.benzinga.com/24/11/42151809/michael-saylor-reveals-microstrategy-is-making-500m-a-day-with-bitcoin-may-very-well-be-the-most-profitable-company-in-the-us-growing-the-fastest-right-now">generating $500 million daily</a> from Bitcoin as its value nears $100,000.



Saylor has also been vocal about the opportunity cost of not investing in Bitcoin. He criticized&nbsp;Warren Buffett&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42084722/warren-buffett-destroying-3b-a-month-of-berkshire-capital-by-not-investing-in-bitcoin-says-microstrategys-michael-saylor">for not utilizing</a> Berkshire Hathaway&#8217;s cash reserves to invest in Bitcoin, suggesting that it has resulted in significant capital destruction.



Moreover, Saylor&#8217;s approach to Bitcoin has <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41683531/michael-saylor-calls-microstrategy-the-public-equity-play-on-bitcoin-maximalism-heres-whos">positioned&nbsp;MicroStrategy</a>&nbsp;as a key player in the Bitcoin space, branding it as the &#8220;public equity play on Bitcoin maximalism."



Price Action: MicroStrategy's stock closed at $387.47 on Friday, falling slightly by 0.35%. Year-to-date, the stock has gained 465%, according to <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41683531/michael-saylor-calls-microstrategy-the-public-equity-play-on-bitcoin-maximalism-heres-whos">Benzinga Pro data</a>.



The MicroStrategy stock has a consensus rating of "Buy." The highest price target is $690, while the consensus price target is $449.50, implying a 16% upside.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="946" height="355" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/30025120/MSTR-rating.jpg" alt="" class="wp-image-671020" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/30025120/MSTR-rating.jpg 946w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/30025120/MSTR-rating-300x113.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/30025120/MSTR-rating-768x288.jpg 768w" sizes="(max-width: 946px) 100vw, 946px" /></figure>



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<li><a href="https://www.benzinga.com/24/11/42211279/warren-buffett-says-parents-should-do-this-one-thing-before-they-die-whether-they-are-rich-or-not">Warren Buffett Says Parents Should Do This One Thing Before They Die, Whether They Are Rich Or Not</a></li>
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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.



Photo courtesy: Michael Saylor / MicroStrategy

MicroStrategy's Michael Saylor Calls Bitcoin The 'Manhattan In Cyberspace,' Says It's An Asset You Could Expect To 'Last 1,000 Years'

Cryptocurrency markets are closing Friday strong, with Bitcoin&#8217;s performance paving the <a href="https://www.benzinga.com/topic/altcoins">way for altcoin gains.</a>



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>&nbsp;$97,590</td><td>+2.8%</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>&nbsp;$3,600</td><td>+1.0%</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>&nbsp;$242.66</td><td>+2.8%</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>&nbsp;$0.4355</td><td>+9.6%</td></tr><tr><td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>&nbsp;$0.00002621</td><td>+4.0%</td></tr></tbody></table></figure>



Notable Statistics:



<ul>
<li>IntoTheBlock data shows large transaction volume decreasing by 22.6% and daily active addresses falling by 8%. Exchanges netflows are up by 188%.</li>



<li>Coinglass data reports 86,529 traders were liquidated in the past 24 hours for $242 million, with $150 million being liquidated short positions.</li>
</ul>



Notable Developments:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42250465/dogecoin-price-up-65-what-is-going-on">Dogecoin Price Up 6.5%: What Is Going On?</a></li>



<li><a href="https://www.benzinga.com/etfs/specialty-etfs/24/11/42246620/xrp-price-soars-20-in-24-hours-why-is-xrp-up">XRP Price Soars 20% In 24 Hours: Why Is XRP Up?</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42247693/dogecoin-etf-coming-in-2025-i-think-someones-going-to-try-says-etf-analyst">Dogecoin ETF Coming In 2025? &#8216;I Think Someone&#8217;s Going To Try,&#8217; Says ETF Analyst</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42244078/vladimir-putin-signs-bitcoin-mining-crypto-taxation-law">Vladimir Putin Signs Bitcoin Mining, Crypto Taxation Law</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42245202/peter-schiff-bitcoin-reserve-is-the-worst-monetary-mistake-us-could-make">Peter Schiff: Bitcoin Reserve Is The &#8216;Worst Monetary Mistake&#8217; US Could Make</a></li>
</ul>



Top Gainers:



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Algorand (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/algo/usd">ALGO</a>)</td><td>&nbsp;$0.4318</td><td>+42.3%</td></tr><tr><td>Hedera (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/hbar/usd">HBAR</a>)</td><td>&nbsp;$0.17</td><td>+18.9%</td></tr><tr><td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>&nbsp;$1.74</td><td>+17.7%</td></tr></tbody></table></figure>



Trader Notes: Daniel Cheung, co-founder of Syncracy Capital, <a href="https://x.com/HighCoinviction/status/1862596640793612426">speculates</a> that altcoins will &#8220;rip 50% in a day&#8221; once Bitcoin breaks $100,000.



Trader Bluntz highlights a bullish chart pattern for Dogecoin playing out, <a href="https://x.com/Bluntz_Capital/status/1862587386036985898">saying</a>, &#8220;things are about to get fun again.&#8221;



Popular crypto analyst Michaёl van de Poppe sees this as the &#8220;institutional and governmental cycle,&#8221; flagging discussions around Bitcoin as a strategic reserve in the U.S. and Brazil, while Russia recognizes Bitcoin as property.



&#8220;It&#8217;s actually an insane period,&#8221; the analyst concludes. 



<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">It&#39;s actually an insane period. &#8211; Trump looking to add <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> as strategic reserve. &#8211; A bill proposing the same in Brazil. &#8211; Russia recognising <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> &amp; <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> as property. It&#39;s the institutional &amp; governmental cycle. This goes way higher than we all wish for.&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1862587340528537993?ref_src=twsrc%5Etfw">November 29, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42232028/remember-james-howells-who-lost-his-hard-drive-with-8000-bitcoins-now-worth-760m-his-ex-girlfriend-reveals-it-was-she-who-threw-it-away">Remember James Howells Who Lost His Hard Drive With 8,000 Bitcoins Now Worth $760M? His Ex-Girlfriend Reveals It Was She Who Threw It Away (CORRECTED)</a></li>
</ul>



Image: Shutterstock

$ALGO

$ETH

$HBAR

$SHIB

$SOL

$XRP

Bitcoin, Ethereum, Dogecoin Climb, But Ripple Rockets: Analyst Calls It 'An Insane Period'

<a href="https://www.benzinga.com/personal-finance/24/03/37740851/give-everything-to-us-now-gen-zs-main-career-goal-is-to-make-lots-of-money-so-they-can-be-richer">Gen Z workers</a> are entering the workforce with high hopes and ambitions, but the transition isn't going as planned for many.&nbsp;



A September survey published by Intelligent.com found that 60% of employers have already let go of Gen Z hires just months after they started. The reasons are piling up: <a href="https://www.benzinga.com/personal-finance/24/10/41555075/millennials-and-gen-z-rely-on-parents-for-financial-support-survey-finds-its-costing-them-their-">lack of motivation</a>, poor communication skills and unprofessional behavior are at the top of the list. Employers have also flagged issues like tardiness, inappropriate workplace attire and unrealistic expectations for quick promotions.



Don't Miss:



<ul>
<li>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/1milsaved"> The percentage may shock you</a>.</li>



<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>
</ul>



Recruiters and hiring managers aren't just frustrated; they're rethinking whether it's worth hiring recent graduates. One in six employers say they're hesitant to bring on new grads and some companies outright avoid them in next year's hiring cycle.



According to a New York Post article, the disconnect doesn't seem limited to the U.S. Recruitment expert Roxanne Calder observes similar trends in Australia, though not as severe as in America. She notes that employers are frustrated because younger hires often fail to meet the expectations tied to their starting salaries – many of which hover around $80,000 for entry-level roles. Companies are looking for employees who can "fire" on all cylinders immediately, but Calder says many Gen Z workers lack the technical and interpersonal skills to meet these demands.



See Also: Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">with $1,000 you can invest at just $0.26/share!</a>



In her experience, one of the biggest challenges is how Gen Z handles feedback. "They find it really difficult," she told news.com.au, as the New York Post reported.&nbsp;



Sometimes, Calder converses with young workers and then sends them an email asking if they have anything to add because she finds they struggle so much with face-to-face communication. This hesitancy to engage directly with managers and process constructive criticism creates a significant gap between employer expectations and employee readiness.



Feedback has also become a sticking point; Calder notes that Gen Z workers often struggle to take constructive criticism, which can create friction with managers.



<a href="https://www.benzinga.com/general/24/06/39181971/gen-z-job-applicant-rejects-90-minute-task-ceo-faces-backlash">Adding fuel to the fire</a>, TikTok is full of Gen Z employees sharing their stories about being fired. Some blame rigid or outdated workplace cultures, while others admit they weren't prepared for the reality of their roles. Calder says, "They want the dream career, but when the reality hits, it's hard to reconcile the two."



Trending: Over the last five years, the price of gold has increased by approximately 83% — Investors like Bill O&#8217;Reilly and Rudy Giuliani are using this platform to <a href="https://www.benzinga.com/money/american-hartford-gold">create customized gold IRAs to help shield their savings from inflation and economic turbulence.&nbsp;</a>



But the finger-pointing can't rest solely on Gen Z. HR consultant Bryan Driscoll argues that the education system shoulders some responsibility. In a Newsweek article, Driscoll drew on personal experience, stating, "As someone who went through years of education, including law school, I can tell you this: colleges are not preparing students for real-world work."



Companies, too, could step up by offering better onboarding and mentorship programs to set young hires up for success. Driscoll warns, "If companies keep treating them as disposable assets, we're going to end up with a workforce that's both overworked and unprepared."



Bridging the gap will ultimately <a href="https://www.benzinga.com/money/can-you-guess-how-many-americans-successfully-retire-with-1-million-saved">require effort on both sides</a>. Employers need to invest in the next generation and Gen Z workers need to adapt to the demands of the professional world. Until then, the revolving door of new hires and rapid terminations will likely keep spinning.



Read Next:



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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>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 what&#8217;s behind this formula.</a></li>
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Personal Finance

Gen Zers Are Being Fired Just Months After Getting Hired – Employers Cite Lack Of Motivation, Poor Communication And Unprofessional Behavior

In a shortened trading week for the Thanksgiving holiday, President-elect Donald Trump sent shockwaves through the markets by announcing plans to impose a 25% tariff on all imports from Mexico and Canada alongside a 10% hike on Chinese goods. These measures, he indicated, aim to pressure these countries to address drug <a href="https://www.benzinga.com/etfs/currency-etfs/24/11/42190765/trumps-tariff-threats-slam-mexican-peso-canadian-dollar-only-the-beginning-of-a-sorely-needed-repricing-expert-warns">trafficking and illegal immigration.</a>



Currency markets reacted swiftly, with the Mexican peso and Canadian dollar plunging to two-year and four-year lows, respectively, before stabilizing as <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42202496/goldman-sachs-expects-major-selloffs-in-canadian-dollar-mexican-peso-says-trump-tariffs-threaten-usmca-agreement">investors reassessed the risks.</a>



The escalating trade tensions took a toll <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42219612/usmexico-trade-tensions-escalate-as-mexican-peso-hits-august-2022-lows-why-is-auto-industry-most-at-risk">on U.S. automaker stocks,</a> particularly General Motors Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), which relies heavily on Mexican production. GM shares tumbled nearly 5% on the week, snapping a three-week winning streak.



Despite the looming risks of a new trade war, broader equity markets remained resilient. The S&amp;P 500 and Dow Jones Industrial Average both extended their record highs, reflecting investor appetite in a historical positive season for stocks.



Small-cap stocks, tracked by the Russell 2000 via the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), also surged, hitting fresh all-time highs on Monday and surpassing their previous<a href="https://www.benzinga.com/24/11/42176317/exclusive-small-caps-hit-records-yet-russell-2000-is-still-very-discounted-relative-to-the-sp-500-expert-says"> peak from November 2021.</a>



<h3 class="wp-block-heading">Tariffs Hit Automakers</h3>



S&amp;P Global estimates that tariffs on Mexico and Canada could slash U.S. automakers' profit margins by as much as 17% in a worst-case scenario. General Motors and Stellantis are expected to be the hardest hit given heavy reliance <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42247850/gm-other-us-automakers-brace-for-sharp-profit-squeeze-from-trump-tariffs-analysts">on Mexican auto exports.</a>



<h3 class="wp-block-heading">Seasonal Stock Rally</h3>



The&nbsp;stock market often excels during the holiday season. Data shows the S&amp;P 500 historically rises 1.5% in December, with November delivering a 1.2% gain on average since 1950. Analysts attribute this to strong retail spending, end-of-year portfolio adjustments and positive sentiment, making it a historically <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42170135/its-the-most-wonderful-time-of-the-year-for-the-stock-market-history-says">favorable period for investors.</a>



<h3 class="wp-block-heading">Mortgage Rates Reality</h3>



Compass CEO Robert Reffkin indicated that homebuyers are adjusting to the reality of 7% mortgage rates. As affordability pressures ease and inventory remains tight, he expects demand to stabilize. The normalization process could help the mortgage market regain momentum despite challenges posed <a href="https://www.benzinga.com/real-estate/24/11/42235592/we-cant-go-much-lower-compass-ceo-says-home-buyers-are-coming-around-to-accepting-7-mortgage-rates">by elevated borrowing costs.</a>



<h3 class="wp-block-heading">Fed's Disinflation Confidence</h3>



The Federal Reserve&#8217;s November meeting minutes reveal officials&#8217; <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42198763/fed-minutes-reveal-confidence-in-inflation-reduction-yet-flag-divergent-views-on-interest-rate-path-ahead">confidence in declining inflation.</a> Markets anticipate a greater likelihood of a 0.25% interest rate cut next month.



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<li><a href="https://www.benzinga.com/24/11/42246831/morgan-stanley-sounds-alarm-for-markets-in-2025-sp-500-is-extremely-expensive">Morgan Stanley Sounds Alarm For Markets In 2025: &#8216;S&amp;P 500 Is Extremely Expensive&#8217;</a></li>
</ul>



Image created using artificial intelligence via Midjourney.

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Trump's Proposed Tariffs Target Mexico, Canada, US Automakers; Wall Street Shrugs Off Concerns, Soars To Record Highs: This Week In The Markets

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