U.S. stock futures advanced on Wednesday ahead of the Federal Open Market Committee&#8217;s (FOMC) decision on the interest rates. Futures of all four benchmark indices were higher in premarket trading.



On Tuesday, the stocks plunged after a two-day rally as the Magnificent 7 stocks dragged the indices down. Nvidia Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) GTC AI Conference failed to ignite a rally despite a slew of announcements.



The two-day FOMC meeting began on Tuesday, and the Federal Reserve Chairman Jerome Powell is expected to announce its decision during a press conference on Wednesday afternoon.



The 10-year Treasury yield stood at 4.29%, while the two-year yield was at 4.05%. According <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">to</a> the CME Group's FedWatch tool, there is a 99% chance that the Federal Reserve will keep interest rates unchanged.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Nasdaq 100</td><td>0.16%</td></tr><tr><td>S&amp;P 500</td><td>0.26%</td></tr><tr><td>Dow Jones</td><td>0.02%</td></tr><tr><td>Russell 2000</td><td>0.28%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were higher in premarket on Wednesday. The SPY was up 0.26% to $562.46, and the QQQ advanced 0.35% to $476.22, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From The Last Session



Technology, communication services, and consumer discretionary sectors led U.S. stock declines on Tuesday, with the Nasdaq Composite falling roughly 300 points.



Specifically, Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) dropped about 4%, and Nvidia Corp. fell over 3%.



The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) also saw a decline exceeding 1%. In contrast, energy and healthcare stocks rose, defying the broader market&#8217;s downward trend.



Economic data showed that U.S. import prices increased by 0.4% in February, exceeding expectations, while export prices rose 0.1%. The U.S. industrial production also surpassed estimates, increasing by 0.7% in February.



The Nasdaq 100 index continues to be in the correction zone as it was still 12.33% lower from its previous high. While Dow Jones was 7.75% lower, S&amp;P 500 declined 8.67% from their respective 52-week highs.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>-1.71%</td><td>17,504.12 </td></tr><tr><td>S&amp;P 500</td><td>-1.07%</td><td>5,614.66</td></tr><tr><td>Dow Jones</td><td>-0.62%</td><td>41,581.31</td></tr><tr><td>Russell 2000</td><td>-0.89%</td><td>2,049.94</td></tr></tbody></table></figure>



Insights From Analysts



"No rate change is expected," noted senior economist at WisdomTree, Jeremy Siegel ahead of the Federal Reserve&#8217;s decision, adding that the dot plot will be updated. The market is pricing in two rate cuts this year, he says, but he's "not convinced that the Fed will fully signal that just yet."



Furthermore, Siegel anticipates Powell will face intense scrutiny regarding declining market sentiment and inflation concerns.



He believes market direction hinges on the tariff situation; further escalation by President Donald Trump could trigger a significant downturn, potentially a &#8220;bear market&#8221;. Regarding Big Tech, Siegel argues current valuations, excluding Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), are high but not bubble-like, unlike the 2000 tech boom.



&#8220;For now, tariffs remain the dominant market force. The path forward depends on how Trump navigates trade policy—any softening would be bullish for equities, while continued escalation would put further downside pressure on stocks,&#8221; Siegel added.



&#8220;We don't expect any surprises at this week&#8217;s FOMC meeting, with the Fed likely holding the federal funds rate in the 4.25% to 4.5% range,&#8221; said Collin Martin, director, of fixed income strategy at the Schwab Center for Financial Research



&#8220;With growth concerns now making the most headlines, Fed Chairman Powell will likely be asked about the balance of risks given that all of the uncertainty out there could weigh on the labor market. We still expect rate cuts later this year, likely in the second half,&#8221; said Martin



See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures</a> 



Upcoming Economic Data



Here&#8217;s what investors will keep an eye on Wednesday:



<ul>
<li>FOMC will announce its decision on interest rates at 2:00 p.m., and Federal Reserve Chairman Jerome Powell will address a press conference at 2:30 p.m., ET.</li>
</ul>



Stocks In Focus:



<ul>
<li>Signet Jewelers Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIG#NYSE">SIG</a>) was up 0.31% in premarket on Wednesday ahead of its earnings before the opening bell. Analysts expect earnings of $6.25 per share on revenue of $2.33 billion.</li>
</ul>



<ul>
<li>Williams-Sonoma Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>) advanced 1.17% as Wall Street expects it to report earnings of $2.93 per share on revenue of $2.35 billion before the opening bell.</li>
</ul>



<ul>
<li>Five Below Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>) rose 1.26% ahead of its earnings after the closing bell. Analysts expect earnings of $3.38 per share on revenue of $1.39 billion.</li>
</ul>



<ul>
<li>Healthequity Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HQY#NASDAQ">HQY</a>) slumped 13.09% after it posted downbeat earnings for its fourth quarter on Tuesday.</li>
</ul>



<ul>
<li>StoneCo Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STNE#NASDAQ">STNE</a>) jumped 8.02% after reporting better-than-expected fourth-quarter earnings and sales results.</li>
</ul>



<ul>
<li>Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) was 2.01% higher after it announced an AI server lineup with new Nvidia GPU support.</li>
</ul>



<ul>
<li>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) gained 1.06% ahead of the second day of the GTC AI conference.</li>
</ul>



<ul>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) climbed 2.96% after receiving approval for rolling out its first Robotaxi in California.</li>
</ul>



<ul>
<li>TEN Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XHLD#NASDAQ">XHLD</a>) surged 33.63% after it announced that it would initiate a $1 million stock repurchase program on March 17, 2025, with no set end date, funded by operating cash and subject to market conditions.</li>
</ul>



<ul>
<li>5E Advanced Materials Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FEAM#NASDAQ">FEAM</a>) plunged 20.72% after it announced a resale of up to 20.63 million common shares by stockholders; the company will receive no proceeds and will cover all the expenses.</li>
</ul>



Commodities, Gold And Global Equity Markets:



Crude oil futures were trading lower in the early New York session by 0.63% to hover around $66.33 per barrel.



The gold spot index was down by 0.12% to $3,030.36 per ounce. Its last record high was at $3,045.39 per ounce. The Dollar Index was up by 0.35% at the 103.608 level.



Asian markets closed mixed on Wednesday with China&#8217;s CSI 300, South Korea's Kospi, Hong Kong's Hang Seng, and India's S&amp;P BSE Sensex advancing in trade. Japan's Nikkei 225, and Australia's ASX 200 index declined. European markets were also mixed in trade.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/03/44392370/nvidia-destroys-420-billion-of-investor-wealth-since-deepseek-launch-valuation-hits-a-29-month-low-as-gtc-fails-to-ignite-stock">Nvidia Loses $420 Billion In Market Capitalization Since DeepSeek Launch, Valuation Hits A 29-Month Low As GTC Fails To Ignite Stock</a></li>
</ul>



Photo courtesy: Shutterstock

Equities

Government

Market Summary

News

Futures

Federal Reserve

Pre-Market Outlook

Markets

FEAM

FIVE

NVDA

PLTR

SMCI

STNE

TSLA

XHLD

US Stocks Likely To Open Higher Ahead Of FOMC Decision: 'Tariffs Remain The Dominant Market Force' Amid Rising Economic Uncertainty, Says Expert

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock climbed 3.70% during the pre-market trading session on Wednesday as it attempted to rebound from the gloom surrounding the past trading sessions.



What Happened: In Tuesday&#8217;s interview on Fox News&#8217;s Sean Hannity, CEO Elon Musk responded to the protests, expressing surprise at the &#8220;level of hatred and violence from the [political] left.&#8221;



He defended Tesla as a &#8220;peaceful company&#8221; that has &#8220;never done anything awful.&#8221; Musk also touched upon the Department of Government Efficiency (DOGE), which he oversees.



He underscored the high national debt, pointing out that interest payments surpass the entire military budget.



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Elon Musk laments &#039;deranged&#039; Democrats&#039; attacks on Tesla plants" width="500" height="281" src="https://www.youtube.com/embed/03-FBV1T1Lc?start=893&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>



In another positive development, Tesla secured its <a href="https://www.benzinga.com/25/03/44392619/elon-musks-tesla-secures-first-approval-towards-rolling-out-robotaxi-in-california">first permit in California</a>, a significant step towards launching a robotaxi service, enabling the company to operate a fleet of vehicles for scheduled trips.



However, the permit does not allow Tesla to offer autonomous rides or run a public ride-hailing service. Musk has turned his attention to robotaxis as sales slow, pledging to launch driverless services in California and Texas this year.



SEE ALSO: <a href="https://www.benzinga.com/25/03/44393177/fubotv-partners-with-rangers-sports-network-for-full-season-of-texas-rangers-baseball">FuboTV Partners With Rangers Sports Network For Full Season Of Texas Rangers Baseball</a>



Why It Matters: Tesla investors are going through a period of uncertainty amid declining share prices and ongoing protests against the company.



Rising competition from Chinese EV manufacturer BYD (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) has also added to the concerns. All these factors have triggered a substantial sell-off of shares. As of Wednesday, Tesla&#8217;s stock had dipped about 47% since the Jan. 20 inauguration of President Donald Trump.



According to RBC Capital analyst Tom Narayan, &#8220;Much of the attention around Tesla has centered on <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/03/44380301/tesla-analyst-says-demand-fears-overblown-but-has-some-concerns-as-used-car-prices-plummet">its recent delivery </a>performance in Jan and Feb in Europe and China.&#8221;



He believes that concerns about demand are likely exaggerated, as Europe and China account for only a small share of Tesla&#8217;s total vehicle sales. However, the analyst is concerned as Tesla used car prices are declining at three times the pace of the overall used car market.



On Tuesday, Tesla stock declined 5.35% to close at $225.31. Over the past 12 months, the stock gained over 31%, as per <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.



READ MORE:



<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/03/44371661/ai-bubble-bursting-magnificent-7s-profit-margins-face-pressure-as-capital-spending-can-tumble-in-2025">AI Bubble Bursting? Magnificent 7&#8217;s Profit Margins Face Pressure As &#8216;Capital Spending Can Tumble&#8217; In 2025</a></li>
</ul>



Image via Shutterstock



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

Tech

BYDDF

Tesla Stock Surges Nearly 4% In Pre-Market: What's Going On?

Gilead Sciences Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>) stock is trading lower during the premarket trading session on Wednesday.



According to a Tuesday report in the Wall Street Journal, the Health and Human Services Department (HHS) is considering substantial reductions in federal funding for <a target="_blank" href="https://www.benzinga.com/general/health-care" rel="noreferrer noopener">domestic HIV prevention</a>.



According to people familiar with the matter, the WSJ reports that the plans could be announced within a day. However, they are not final and could still be changed or canceled.



Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/25/03/44283318/gilead-presents-new-hiv-treatment-and-cure-research-data" rel="noreferrer noopener">Gilead Presents New HIV Treatment And Cure Research Data</a>



The Centers for Disease Control and Prevention (CDC) has a department focused on preventing HIV and other infectious diseases. It provides funding for state and local programs, including HIV tracking, syringe services, and community outreach, the WSJ writes.



Meanwhile, the Trump administration is planning significant staff cuts at the CDC as part of a broader reorganization, according to WSJ sources. The agency's structure makes it vulnerable to such changes since no single law defines its mission or programs.



Mitchell Warren, executive director of HIV prevention group AVAC, says the CDC's pre-exposure prophylaxis (PrEP) program could be reduced or cut. Launched last fall as a pilot program, it provides free medication to help prevent HIV.



PrEP&nbsp;is used by people who are HIV-negative and at high risk of being exposed to HIV infection.



In 2021, the FDA approved ViiV Healthcare's Apretude, the first injectable form of PrEP <a target="_blank" href="https://www.benzinga.com/24/12/42468692/gilead-unveils-new-yearly-hiv-injection-to-offer-hope-for-less-frequent-preventive-dosing" rel="noreferrer noopener">administered every two months</a>. ViiV Healthcare is owned by Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>), and Shinogi Ltd.



In 2023, the agency <a target="_blank" href="https://www.cdc.gov/nchhstp/budget-funding/index.html#cdc_program_funding_fund_by_cat-how-is-cdc-funding-used-for-hiv-viral-hepatitis-stis-tuberculosis-prevention" rel="noreferrer noopener">allocated</a> approximately $1.3 billion to combat HIV, viral hepatitis, sexually transmitted infections, and tuberculosis. Roughly 75% of those funds support state and local health departments, nonprofits, and other organizations engaged in disease prevention and outbreak response.



"No final decision on streamlining CDC's HIV Prevention Division has been made," the WSJ report <a target="_blank" href="https://www.wsj.com/health/healthcare/trump-administration-weighing-major-cuts-to-funding-for-domestic-hiv-prevention-8dcad39b" rel="noreferrer noopener">added</a>, citing the department's spokesman.



Gilead filed for regulatory approval of lenacapavir for PrEP (twice a year) last year and expects a potential <a target="_blank" href="https://www.benzinga.com/general/biotech/25/02/43673047/gilead-ups-2025-outlook-eyes-lenacapavir-launch-for-hiv-prevention" rel="noreferrer noopener">commercial launch in 2025</a>.&nbsp;



Gilead also&nbsp;revealed that it is developing a once-yearly injectable formulation for lenacapavir. In its investor presentation, the company expects&nbsp;the pivotal Phase 3 pharmacokinetics study's first patient to be in 2025, and potential regulatory filings will <a target="_blank" href="https://www.benzinga.com/24/12/42468692/gilead-unveils-new-yearly-hiv-injection-to-offer-hope-for-less-frequent-preventive-dosing" rel="noreferrer noopener">begin in late 2027</a>.



Price Action: At the last check on Wednesday, GILD stock was down 2.02% at $108 during the premarket session.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/03/44393734/siemens-to-slash-6000-jobs-as-demand-slows-in-germany-and-china" target="_blank" rel="noreferrer noopener">Siemens To Slash 6,000 Jobs As Demand Slows In Germany And China</a></li>
</ul>

Biotech

Large Cap

Health Care

Movers

Media

General

GILD

Trump Administration Weighs Deep Cuts To Domestic HIV Prevention Programs, Gilead Stock Slides

Editor&#8217;s Note: The story has been corrected to reflect a $600 billion drop in Nvidia&#8217;s market cap.



At the GTC 2025 conference in San Jose, Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) announced that the company's newly released open-source software, Dynamo, can make China's DeepSeek R1 AI model 30 times faster when run on its latest Blackwell GPU chips.



What Happened: During a media <a href="https://fortune.com/2025/03/18/nvidia-ceo-jensen-huang-gtc-deepseek-sap-center-gpu-tech-artificial-intelligence-ai/">briefing</a> ahead of CEO Jensen Huang's keynote, Ian Buck, Nvidia's head of hyperscale and high-performance computing said, &#8220;Dynamo can capture that benefit and deliver 30 times more performance in the same number of GPUs in the same architecture for reasoning models like DeepSeek.&#8221;



Dynamo distributes AI workloads across up to 1,000 GPUs to boost throughput and performance. It is available now on GitHub.



See Also:&nbsp;<a href="https://www.benzinga.com/news/management/25/01/43274796/jensen-huang-loses-20b-in-wealth-how-deepseek-hit-nvidia-stock-and-worlds-richest-people" target="_blank" rel="noreferrer noopener">Jensen Huang Loses $20B In Wealth: How DeepSeek Hit Nvidia Stock And World&#8217;s Richest People</a>



The announcement comes just two months after DeepSeek R1 rattled investors by demonstrating how advanced AI models could reduce computing needs, leading to a <a href="https://in.benzinga.com/25/02/43876025/nvidia-ceo-attributed-the-deepseek-led-sell-off-to-investor-misconception-on-ai-spending-obviously-that-paradigm-is-wrong">$600 billion drop</a> in Nvidia's market cap.



Nvidia says Dynamo, combined with the memory-rich Blackwell Ultra chips and Grace CPUs, will allow AI data centers—what it calls "AI factories"—to run significantly more queries per second or offer premium services at higher margins.



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's Important: Nvidia is looking to reframe the narrative around increasingly efficient AI models like DeepSeek, which initially raised fears of slowing demand for its chips.&nbsp;



Since the launch of DeepSeek in January 2025, Nvidia has experienced a significant decline in market capitalization, <a href="https://in.benzinga.com/25/03/44392370/nvidia-destroys-420-billion-of-investor-wealth-since-deepseek-launch-valuation-hits-a-29-month-low-as-gtc-fails-to-ignite-stock">losing $420 billion</a>. This decline has now been exacerbated by a lackluster response to announcements made at the GTC AI Conference.



In addition to the Dynamo software, Huang also <a href="https://in.benzinga.com/tech/25/03/44383445/nvidia-ceo-jensen-huang-announces-gm-partnership-the-time-for-autonomous-vehicles-has-arrived">revealed a partnership</a> with General Motors Co. to advance autonomous vehicle technology at GTC.



He also said that Nvidia is <a href="https://www.benzinga.com/tech/25/03/44390580/nvidia-just-unveiled-a-humanoid-ai-brain-which-allows-robots-to-think-slow-jensen-huang-says-this-could-very-well-likely-be-the-largest-industry-of-all">expanding its focus</a> on embodied AI, introducing the Groot N1 model for humanoid robots, which could potentially revolutionize the industry.



Price Action: On Tuesday, Nvidia's stock dropped 3.43%, closing at $115.43. In the pre-market session on Wednesday, it gained 1.36%, reaching $117 at the time of writing. Year-to-date, the company's shares have fallen 16.54%, according to <a href="http://pro.benzinga.com/">Benzinga Pro</a>.



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



Read Next:



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<li><a href="https://www.benzinga.com/24/12/42260222/how-nvidia-ceos-clever-but-nerdy-pick-up-line-turned-a-homework-proposal-into-marriage-while-building-338-trillion-ai-chip-giant-along-the-way" target="_blank" rel="noreferrer noopener">How Nvidia CEO Jensen Huang&#8217;s Clever Pick-Up Line Turned A Homework Proposal Into Marriage While Building $3.38 Trillion AI Chip Giant Along The Way</a></li>
</ul>



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



Photo courtesy: Shutterstock

Nvidia Says Dynamo Can Make DeepSeek R1 30X Faster With Blackwell, Months After The AI Model Sparked Selloff Leading To A $600 Billion Drop In Its Market Cap (CORRECTED)

Deepwater Asset Management managing partner Gene Munster highlighted five key takeaways from NVIDIA Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) recent keynote presentation, emphasizing that the artificial intelligence buildout remains in its early stages <a href="https://www.benzinga.com/tech/25/03/44383445/nvidia-ceo-jensen-huang-announces-gm-partnership-the-time-for-autonomous-vehicles-has-arrived">despite investor skepticism</a>.



What Happened: CEO Jensen Huang dedicated about a third of his two-hour-plus keynote to emphasizing that the AI infrastructure buildout is still in its early stages, Munster said noting that Nvidia shares traded down 2.5% during the presentation compared to Nasdaq&#8217;s 0.2% decline. &#8220;Investors are still skeptical given NVDA trades at 20x CY26 EPS. I buy it.&#8221;



Munster pointed to Huang&#8217;s confident stance on demand, as evidenced by the Nvidia CEO&#8217;s suggestion that customers need not purchase current-generation Hopper GPUs with Blackwell, which are now available. 



The keynote featured expected product announcements including Blackwell Ultra, Rubin, and co-packaged optics technology that enables data centers to deploy more GPUs.



Nvidia has consistently delivered around a 4x increase in AI computing power across generations, from Hopper in 2022 to Blackwell in 2024 and the anticipated Rubin in 2026. Notably, Gene Munster pointed out that &#8220;Rubin Ultra will require about 4.5x the power compared to Blackwell,&#8221; calling it &#8220;Good for&#8221; Vertiv Holdings Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>).



See Also: <a href="https://www.benzinga.com/25/03/44389618/trump-press-secretary-blasted-by-french-mep-over-statue-of-liberty-reaction-if-hundreds-of-thousands-of-young-americans-had-not-landed-on-our-beaches">Trump Press Secretary Blasted By French MEP Over Statue Of Liberty Reaction: &#8216;If Hundreds Of Thousands Of Young Americans Had Not Landed On Our Beaches&#8230;&#8217;</a>



Why It Matters: During the keynote, Huang <a href="https://www.benzinga.com/news/large-cap/25/03/44389027/tesla-takes-another-hit-with-nvidia-gm-self-driving-partnership">announced a partnership</a> with General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) for autonomous vehicles, declaring &#8220;The time for autonomous vehicles has arrived.&#8221; The collaboration includes factory planning, robotics, advanced driver-assistance systems, and in-cabin safety features built on Nvidia&#8217;s Blackwell architecture.



Munster remained skeptical about GM&#8217;s autonomous driving prospects, writing, &#8220;I&#8217;d be surprised if anything significant comes from GM&#8217;s autonomy efforts, given they <a href="https://www.benzinga.com/tech/24/12/42429588/gms-cruise-exit-draws-sharp-reaction-from-co-founder-kyle-vogt-tesla-ceo-elon-musk-says-autonomous-driving-is-a-very-hard-problem">shut down Cruise back in December</a>.&#8221; Catching up to Alphabet Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Google-backed Waymo and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is &#8220;difficult in what is largely a winner-takes-most market.&#8221;



Investor focus now shifts to late April earnings reports from Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Alphabet Inc., Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) for further insights into AI market momentum.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/general/gaming/25/03/44387858/sam-altman-wants-to-get-rid-of-ai-bots-in-video-games-heres-the-why-and-how">Sam Altman Wants To Get Rid Of AI Bots In Video Games: Here&#8217;s The Why And How</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.

AMZN

GOOG

GOOGL

MSFT

Nvidia AI Boom Just Beginning As Blackwell Gains Traction And Rubin Ultra Raises The Power Bar, Says Gene Munster: 'Investors Are Still Skeptical'

The Bank of Japan unanimously voted Wednesday to maintain its benchmark interest rate at 0.5%, as policymakers weigh potential economic impacts from U.S. tariff policies under President Donald Trump&#8216;s administration while monitoring domestic inflation that remains above target.



What Happened: The decision comes as Japan&#8217;s Nikkei 225 index rose 0.62% to 38,081.23, while the yen held relatively steady at 149.31 against the dollar.



&#8220;Japan&#8217;s economy has recovered moderately, although some weakness has been seen in part,&#8221; the BOJ said in its statement, noting that underlying inflation pressures continue with consumer prices rising at 3.0-3.5% recently, well above the central bank&#8217;s 2% target.



The central bank highlighted &#8220;high uncertainties&#8221; surrounding Japan&#8217;s economic outlook, specifically mentioning &#8220;evolving situation regarding trade and other policies in each jurisdiction.&#8221;



See Also: <a href="https://www.benzinga.com/news/econ-s/25/03/44386583/speculators-trim-2025-rate-cut-bets-ahead-of-march-fed-meeting-as-inflation-risks-rise">Speculators Trim 2025 Rate-Cut Bets Ahead Of March Fed Meeting As Inflation Risks Rise</a>



Why It Matters: The BOJ&#8217;s cautious stance mirrors market uncertainties ahead of Wednesday&#8217;s Federal Reserve meeting, where U.S. policymakers are <a href="https://in.benzinga.com/analyst-ratings/analyst-color/24/11/42030455/should-you-subscribe-to-ntpc-green-energy-ipo-check-analysts-calls-latest-gmp">expected to hold rates steady</a> while potentially raising inflation forecasts to account for new tariffs.



Fed funds futures currently indicate expectations for three rate cuts by December, though analysts are increasingly skeptical about this timeline. Speculators have trimmed rate-cut bets, with Kalshi market data showing the most favored scenario now anticipates just two cuts, <a href="https://in.benzinga.com/news/econ-s/25/03/44386583/speculators-trim-2025-rate-cut-bets-ahead-of-march-fed-meeting-as-inflation-risks-rise">carrying a 24% probability</a>.



The yen, which experienced sharp volatility last year including a 38-year low against the dollar in July 2024, has stabilized somewhat following the BOJ&#8217;s rate <a href="https://www.benzinga.com/markets/asia/24/09/40951221/bank-of-japan-leaves-interest-rate-at-0-25-diverging-from-feds-50-basis-point-cut">increase to 0.25% last July</a>. 



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/25/03/44389799/why-dave-ramsey-says-your-typical-millionaire-may-look-just-like-your-next-door-neighbor">Why Dave Ramsey Says Your &#8220;Typical Millionaire&#8221; May Look Just Like Your Next Door Neighbor</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.

Asia

Economics

Federal Reserve Next Up As Japan Maintains Rates Despite Inflation And Trump Tariff Concerns

The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index remained in the &#8220;Extreme Fear&#8221; zone on Tuesday.



U.S. stocks settled lower on Tuesday, with the Nasdaq Composite falling around 300 points during the session. Shares of Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) fell around 4%, while Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) declined more than 3% on Tuesday. The Technology Select Sector SPDR Fund also fell more than 1% during the session.



On the economic data front, U.S. import prices increased by 0.4% in February, versus market estimates of a 0.1% decline. U.S. export prices rose by 0.1% month-over-month in February. U.S. industrial production increased by 0.7% in February, surpassing market estimates of 0.2%.



Most sectors on the S&amp;P 500 closed on a negative note, with communication services, information technology, and consumer discretionary stocks recording the biggest losses on Tuesday. However, energy and healthcare stocks bucked the overall market trend, closing the session higher.



The Dow Jones closed lower by around 260 points to 41,581.31 on Tuesday. The S&amp;P 500 fell 1.07% to 5,614.66, while the Nasdaq Composite dipped 1.71% to 17,504.12 during Tuesday's session.



Investors are awaiting earnings results from Signet Jewelers Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIG#NYSE">SIG</a>), Williams-Sonoma Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>), and Five Below Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 19.7, the index remained in the &#8220;Extreme Fear&#8221; zone on Tuesday, versus a prior reading of 22.4.



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



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/25/03/44375233/top-3-materials-stocks-which-could-rescue-your-portfolio-this-month">Top 3 Materials Stocks Which Could Rescue Your Portfolio This Month</a></li>
</ul>



Photo courtesy: Shutterstock

Earnings

Trading Ideas

Nasdaq Falls 300 Points As Nvidia, Palantir Decline: Greed Index Remains In 'Extreme Fear' Zone

On Tuesday, Cathie Wood-led Ark Invest made significant trades involving Tempus AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEM#NASDAQ">TEM</a>), Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>).



The Tempus AI Trade saw Ark Invest&#8217;s ARK Genomic Revolution ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKG#BATS">ARKG</a>) and ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) funds acquiring a substantial number of shares in Tempus AI. The funds purchased 28,646 and 142,530 shares respectively. This move comes after Tempus AI&#8217;s <a href="https://in.benzinga.com/news/earnings/25/02/43927560/tempus-ai-q4-earnings-revenue-miss-eps-beat-strong-guidance-shares-move-lower">recent earnings report</a>, which showed a revenue miss but an EPS beat, as detailed in a recent analysis. The stock closed at $45.74, marking an 8.28% decline, making the total value of the shares bought approximately $7.83 million. Ark&#8217;s investment follows a <a href="https://www.benzinga.com/25/03/44293571/cathie-woods-wednesday-moves-ark-pours-1-36-million-into-tempus-ai-shares-following-deep-6-ai-acquisition-offload">previous infusion</a> of $1.36 million into Tempus AI, highlighting their confidence in the company&#8217;s potential.



The AMD Trade involved the ARKK fund purchasing 30,324 shares of the company. The stock closed at $103.51, resulting in a trade value of about $3.14 million. This acquisition aligns with recent insights from analysts who have noted AMD&#8217;s <a href="https://www.benzinga.com/25/03/44274365/amd-ceo-lisa-su-says-ai-boom-is-just-getting-started-and-amds-ready-to-cash-in">growing competitiveness</a> in the AI and GPU markets. The company is expected to experience over 20% growth in 2025, driven by AI advancements and strategic partnerships.



The Meta Platforms Trade saw Ark Invest&#8217;s ARKK fund selling 2,160 shares of the Mark Zuckerberg-led company. The stock closed at $582.36, making the sale worth approximately $1.26 million. This decision comes amid <a href="https://www.benzinga.com/markets/25/03/44374847/meta-could-rake-in-30-40-billion-in-revenue-from-whatsapp-business-messaging-predicts-analyst">analyst predictions</a> that Meta could generate $30-40 billion in revenue from its business messaging services, suggesting potential undervaluation by the market.



Notably, Ark <a href="https://www.benzinga.com/25/03/44368691/cathie-wood-dumps-over-7-million-worth-of-meta-shares-as-mark-zuckerbergs-social-empire-faces-privacy-heat-ark-sells-block-shares-again">dumped over $7 million worth</a> of Meta shares on Monday amid reports that the company&#8217;s global expansion efforts and privacy practices are attracting increased scrutiny.



Other Key Trades:



<ul>
<li>UiPath Inc (PATH): Sold 482,454 shares by ARKK and 27,345 shares by ARKF.</li>



<li>Illumina Inc (ILMN): Sold 86,375 shares by ARKK and 17,469 shares by ARKG.</li>



<li>GitLab Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTLB#NASDAQ">GTLB</a>): Bought 104,699 shares by ARKK and 8,748 shares by ARKW.</li>



<li>Iridium Communications Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NASDAQ">IRDM</a>): Bought 99,784 shares by ARKK, 10,022 shares by ARKQ, and 6,585 shares by ARKX.</li>
</ul>



Image via Shutterstock



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/03/44380495/this-pepsico-analyst-is-no-longer-bullish-here-are-top-5-downgrades-for-tuesday">This PepsiCo Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Tuesday</a></li>
</ul>



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

ETFs

ARKG

ARKK

GTLB

IRDM

Cathie Wood's Big Tuesday Bet: Ark Pours $7.8 Million Into Tempus AI Despite Stock Stumble

Speculators are dialing back expectations for Federal Reserve interest rate cuts in 2025 ahead of the March Federal Open Market Committee meeting, as inflation concerns cast doubt on the central bank's <a href="https://www.benzinga.com/government/regulations/25/03/44364688/feds-march-meeting-expected-to-signal-no-hurry-on-rate-cuts-as-powell-likely-to-tread-carefully">willingness to ease policy.</a>



Data from Kalshi, a CFTC-regulated betting platform, indicates that traders are shifting bets toward fewer than three rate cuts. 



The most favored scenario now anticipates two cuts, carrying a 24% implied probability. Notably, the likelihood of just one rate cut jumped seven percentage points in a single day to 19%.



Betting-implied odds currently indicate that the most preferred outcome among retail bettors is two rate cuts at a 24% implied chance.



The Fed's December &#8220;dot plot&#8221; signaled a median expectation for two rate cuts in 2025, a downgrade from the four cuts it had projected in September. 



While retail bettors have turned more cautious, broader financial markets remain slightly more optimistic. Fed funds futures, tracked by the CME FedWatch tool, fully price in three rate cuts by December 2024, with a 35% probability of a fourth cut. 



This discrepancy suggests that institutional investors may still believe in a more accommodative Fed policy than retail traders do.



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



<h3 class="wp-block-heading">What's Driving The Shift?</h3>



One factor weighing on rate-cut expectations is the risk that the Fed could revise inflation projections higher, particularly in response to higher trade tariffs mandated by President Donald Trump. 



December, the central bank had already raised its 2025 inflation forecast, projecting headline Personal Consumption Expenditures inflation at 2.5%, up from 2.1% in September. Core PCE inflation, which excludes food and energy prices, was also revised up to 2.5% from 2.2%.



According to both Bank of America and Goldman Sachs estimates, inflation estimates could be upwardly revised to 2.7% on Wednesday. 



Betting-implied odds tracked by Kalshi reveal that speculators expect inflation to average 3% in 2025. 



<iframe loading="lazy" src="https://kalshi.com/external-widgets/events/KXACPI-2025?color_scheme=light&#038;widget_size=large&#038;utm_campaign=benzinga_widget" width="552px" height="400px" style="border:0"></iframe>



<h3 class="wp-block-heading">A Dovish Tilt Or Continued Caution?</h3>



Federal Reserve Chair Jerome Powell has maintained a wait-and-see stance. Last week, he reiterated that the Fed does not need to rush into rate changes, reinforcing the need for more economic clarity before making any moves.



The consensus among economists is that the Fed will hold rates steady at 4.25%-4.50% at this week's meeting. Betting markets imply a near-unanimous probability of no change, but the focus will be on the Fed's revised economic outlook.



"The Fed will most likely indicate they remain data dependent," Chris Fasciano, chief market strategist at Commonwealth Financial Network, said in an email.



"Considering the better-than-expected CPI and PPI data released last week, if this trend continues it should allow the Fed to continue their rate cut path later in the year."



"The US Federal Reserve is widely expected to stay put this month. The market's focus will be on the guidance and the updated FOMC forecast," said Julien Lafargue, chief market strategist at Barclays Private Bank and Wealth Management.



He added that the Fed's projections may reflect weaker GDP growth, but the dot plot is unlikely to show a major shift.



The U.S. dollar index – as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) – fell to a six-month low on Tuesday, as fears over U.S. economic performance persist among investors. 



Read now: 



<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44379453/equity-exposure-plummets-cash-holdings-jump-as-investors-rethink-us-exceptionalism-bank-of-america-survey">Equity Exposure Plummets, Cash Holdings Jump As Investors Rethink &#8216;US Exceptionalism,&#8217; Bank Of America Survey</a></li>
</ul>



Photo: Shutterstock

Econ #s

Speculators Trim 2025 Rate-Cut Bets Ahead Of March Fed Meeting As Inflation Risks Rise

Uncertainty has taken over the market. Business and consumer sentiment data are souring as markets tumble and tariff policy continues to lack rhyme or reason. The St Louis Fed's US Economic Policy Uncertainty Index has spiked to its highest level since December 2020. The University of Michigan Survey of Consumers dropped nearly 10% from January to February and is now down 17% year-over-year.



Business owners continue to mention tariff uncertainty in surveys. The National Federation of Independent Business (NFIB) Small Business Optimism Index fell in February while the NFIB Uncertainty Index rose to its second-highest recorded level. Complicating matters are increasing inflation expectations for 2025, which could put the Federal Reserve in a tight spot between cutting rates to spur growth or keeping rates unchanged to limit higher prices. 



This precarious cocktail has investors on edge as U.S. stocks lag global markets. While it&#8217;s too soon to talk about a recession being imminent, it&#8217;s a good time to start thinking defensively.



Here are five stocks with solid fundamentals in sectors that tend to do well when the economy slows.



<h2 class="wp-block-heading">Republic Services Inc. </h2>



When investors think of waste management services, they usually conjure the aptly-named Waste Management Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>). However, the lesser-known Republic Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RSG#NYSE">RSG</a>) also runs integrated commercial, residential and industrial solid waste services with over 200 landfills and an additional 246 transfer stations. Contrasted to its larger rival WM, RSG has a comparable P/E ratio, better margins and a significantly better Price to Free Cash Flow (P/FCF) per Share (35.05 vs 41.89). The stock has also increased over 27% in the last 12 months, compared to just 8.7% for WM shares.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeQYUQ7_3cydY16LLDXhy3tPx67ZBSbD7zAXm0LZSi_YK4jG4znK7-82n9tBY5nW0cqOW7is2NPxTCd_cARmCuMp4QR8eNg7kqvhrXpbLNFEC4kUxm6UeZZqvS3ZrUS1B9-0NtJPQ?key=95UsgwGzx44WuMDzrgOVhBOD" alt=""/></figure>



RSG shares pulled back in the first week of March, but the Relative Strength Index (RSI) recently diverged upward, indicating that volume may be accumulating for the next leg higher. RSG also scores well in two crucial Benzinga Edge metrics: 86.20 in Momentum and 88.57 in Quality. On March 4, analysts at CIBC upgraded the stock from Neutral to Outperform, with a price target of $265. UBS, Goldman Sachs and Stifel also boosted price targets on the stock in the last month.



<h2 class="wp-block-heading">Ollie's Bargain Outlet Holdings Inc. </h2>



Dollar stores and discount retailers are often popular picks during economic slowdowns. Still, investors must be careful in this environment not to count on stocks with thin margins and heavy reliance on imports. Ollie's Bargain Outlet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLLI#NASDAQ">OLLI</a>) is a purveyor of excess buildup, meaning it purchases overstocked or overproduced items from manufacturers and wholesalers and sells them at its warehouses at a deep discount.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfcG4FxVYqcba9omEUNAKhflz5JRExFu1Px6XY5nPkQcPj67Y-TVlR7m6_ZlshjheXqH-h9pqOR38SrnD7MdEu0b4YSeZYeJwzQDKHNFYHShJVJsOyvNU8z4qDFgWmZtPRSpp08LA?key=95UsgwGzx44WuMDzrgOVhBOD" alt=""/></figure>



Ollie's business model gives it a leg up over traditional discount retailers like Dollar Tree. The company's 9% profit margin towers over figures from Dollar Tree, Dollar General and even larger chains like Walmart and Target. Ollie's has boosted revenue by nearly 8% year-over-year, but the stock is down almost 10% in the last three months.



However, as the chart above shows, a buying opportunity could be materializing right now. The upward momentum has stalled, but a bullish wedge is forming, which could signal buyers are consolidating in preparation for a new breakout. Keep an eye on this pattern for a potential breakout as the price range continues to condense.&nbsp;



<h2 class="wp-block-heading">Kimberly-Clark Corp. </h2>



Household products like paper towels, toilet paper, hygiene products, detergents and other cleaning supplies have very inelastic demand, so these companies are often popular investments during recessions or economic slowdowns. Kimberly-Clark Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMB#NYSE">KMB</a>) is our pick for this particular industry thanks to its attractive valuation, strong dividend and potential breakout from a multi-year trading range.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXe-m4j-kU00Tja9IKDpC0ML9BehtIIiHcg_Khf25LWmceJmSwZPKUigPpvh_NxgYsCwZngce9DWDIFOzAVATHMzu0VkQQDJnwaUC8ZHpMBDVtQLNa6u25Fx6_7_M1th3U1ieBQ50A?key=95UsgwGzx44WuMDzrgOVhBOD" alt=""/></figure>



KMB shares recently reached a nearly five-year high, smashing through a resistance level that had been in place since the end of 2020. This promising technical signal is supported by strong fundamental data as well. KMB trades at just 19 times earnings, far lower than competitors like Proctor and Gamble and Colgate-Palmolive. It also trades at just 2.4 times sales while maintaining a healthy 12.7% profit margin. KMB pays a 3.5% dividend and the recent breakout has boosted its Benzinga Edge Momentum score to 71.54 &#8211; a rare occurrence in the consumer staples sector.



<h2 class="wp-block-heading">Unum Group </h2>



Here's an insurance company that very few investors have heard about but has the prettiest-looking chart of the bunch. Unum Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNM#NYSE">UNM</a>) provides individual income protection plans to clients in the United States, United Kingdom and Poland while also offering long-term care, life and employee-benefit insurance plans through segments like Colonial Life and Closed Block.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdknAMM85XGJH8djOqkIt-uokaPzFLoS-Iv7YSxhVd04dtjb74hN7kl6219XOMHhTQmGfzDsvfpNbR72bwlBbkPS1k6hINLxoO1eCGpJme2MxixnPxzuqHp2vryBg0MQS1b9A2n?key=95UsgwGzx44WuMDzrgOVhBOD" alt=""/></figure>



Unum Group performed exceptionally well during the 2022 bear market, posting positive gains when most stocks suffered prolonged drawdowns. UNM shares staged a rally in 2024 and have risen by over 60% in the last 12 months. From a fundamental standpoint, the company is in a strong position with 1.27 P/B Value Per Share, 8.3 P/E ratio and 13.9% profit margin. UNM shares also grade out exceptionally well in three crucial Benzinga Edge metrics: Momentum (94.60), Value (89.28) and Quality (84.32).



<h2 class="wp-block-heading">Berkshire Hathaway Inc.</h2>



When Uncle Warren starts raising cash, investors start paying attention. The Oracle of Omaha has been selling stock to increase Berkshire's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) cash pile, and while a 94-year-old insurance CEO may have different investment goals than the rest of us, it&#8217;s worth noting when Buffett begins stacking dry powder.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXc-bLC_d9K-RvtDyN99OcIiYYgI6WjcwCG67aV6slY2NIeGDqcU2N7BywlpEWDUzQZb7zi1f-wpQoiSiwpw1f-NsuVs-Dr2nMAl6nZQ312bH3LGPs0kRmEckODPZ51eaJrONLSa?key=95UsgwGzx44WuMDzrgOVhBOD" alt=""/></figure>



Buffett's cash pile is not unusual considering his long-term track record. While Buffett praises buy-and-hold strategies for retail investors, he himself has always been a bit of a market timer. His cash horde suggests he's waiting for volatility to wane before putting new capital to work.



Whether a recession materializes or not, stocks like BRK.B are good places to harbor while waiting for calmer waters to return. Berkshire's free cash flow pile stands at an impressive $11.6 billion with the stock trading at 12 times earnings. The insurance giant also grades well in Benzinga Edge in terms of Momentum (82.74) and Value (73.69). The stock chart shows some consolidation over the last week and the upward trend remains in place.



<h2 class="wp-block-heading">How To Trade The Fed's Next Move: Live On Wednesday</h2>



Markets are on edge ahead of the Fed's March 20 announcement. Stocks, bonds and key sectors are set to move fast—do you have a strategy in place? Join Nic Chahine <a href="https://events2.benzinga.com/nic-chahine-webinar-wed-mar19-2025-registration">live on Wednesday</a>, March 19, at 6 PM ET to get a real-time trading blueprint for one of the biggest market events of the year. Register now.



Photo: Shutterstock

Mid Cap

Opinion

OLLI

5 Recession-Proof Stocks To Consider As Economic Fears Grow

Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang announced Tuesday a partnership with General Motors Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) for its <a href="https://www.benzinga.com/topic/self-driving">self-driving segment</a>.



"The time for autonomous vehicles has arrived,&#8221; Huang said at the GPU Technology Conference (GTC).



GM will build next-generation vehicles on Nvidia Drive AGX, based on the Nvidia Blackwell architecture. The partnership includes factory planning, robotics, in-vehicle hardware for advanced driver-assistance systems and in-cabin safety driving experiences.



"GM has enjoyed a longstanding partnership with NVIDIA, leveraging its GPUS across our operations," GM CEO Mary Barra said in a statement. "AI not only optimizes manufacturing processes and accelerates virtual testing but also helps us build smarter vehicles while empowering our workforce to focus on craftmanship."



Barra said the partnership will allow the automotive company to unlock innovation for vehicle manufacturing.



GM has been investing in Nvidia GPU platforms to train <a href="https://www.benzinga.com/topic/artificial-intelligence">artificial intelligence</a> models. The collaboration now expands to plant design and operations.



"We are thrilled to partner with GM to build AI systems tailored to their vision, craft and know-how," Huang added.



Read Also: <a href="https://www.benzinga.com/tech/25/03/44352209/gtc-2025-could-reignite-nvidias-stock-rally-but-only-if-b300-ai-server-roadmap-and-scaling-concerns-are-addressed-says-top-analyst">GTC 2025 Could Reignite Nvidia&#8217;s Stock Rally, But Only If B300, AI Server Roadmap, And Scaling Concerns Are Addressed, Says Top Analyst</a>



GM wasn&#8217;t the only partnership hyped by Huang at the <a href="https://www.benzinga.com/top-stories/25/03/44313558/nvidia-stock-reached-all-time-highs-after-jensen-huangs-ces-keynote-will-next-weeks-gtc-spark-another-surge">2025 GTC Conference.</a>



"AI is going to go into every industry," Huang said, highlighting the use of Nvidia GPUs in the data center of Tesla vehicles.



<h2 class="wp-block-heading">Huang Shares Excitement For Physical AI, Robotics</h2>



During his GTC keynote, Huang expressed optimism for AI across many sectors, including physical AI, or robotics.



Huang explored an AI timeline and how, over the last 10 years, its focus shifted from generative AI to agentic AI to the new wave, physical AI.



"Artificial intelligence has made extraordinary progress," Huang said, explaining how each wave of AI opens up new market opportunities and new partners.



"A new era of AI we call physical AI,&#8221; he said.



A chart shared by Huang showed the demand for Blackwell GPUs that have just started shipping, which comes from the growth of generative AI, agentic AI and now physical AI.



Huang also announced Nvidia Dynamo, a distributed inference-serving library. The Nvidia CEO said Dynamo is an open-source operating system being used by the company's partners.



At the start of his speech, Huang said GTC has been called the Woodstock of AI in the past and this year it was being called the Super Bowl of AI.



"Everybody wins at this year's Super Bowl."



Price Action: Nvidia stock trades at $115.83 at the time of writing, down 3.1% on the day. Nvidia stock has traded between $75.61 and $153.13 over the last 52 weeks. Shares are down 15% year-to-date in 2025 and up 34% over the last year.



GM stock saw a quick lift from red to green after Huang's announcement. At the time of writing, GM stock was down 1.3% to $48.37. It has a 52-week trading range of $38.96 to $59.39.



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="&#x1f534; WATCH LIVE: GTC March 2025 Keynote with NVIDIA CEO Jensen Huang" width="500" height="281" src="https://www.youtube.com/embed/XjZFODtmNhQ?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>



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Nvidia CEO Jensen Huang Announces GM Partnership: 'The Time For Autonomous Vehicles Has Arrived'

Google parent 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>) announced on Tuesday that it has signed an agreement to acquire cloud security platform Wiz for $32 billion. Experts weigh in on Google's<a href="https://www.benzinga.com/tech/25/03/44376743/google-parent-alphabet-to-acquire-wiz-in-32-billion-deal-its-biggest-bet-yet"> largest acquisition ever.&nbsp;</a>



Expert Ideas: J.P. Morgan analyst Doug Anmuth sees the Wiz acquisition as strengthening Google's cybersecurity suit and allowing for safer and more efficient multicloud operations.  



"We believe the Wiz acquisition will further strengthen Google's multicloud value proposition &amp; deepen its enterprise relationships as Wiz is used by over 50% of Fortune 100 companies," the analyst wrote.&nbsp;&nbsp;



Read Next: <a href="https://www.benzinga.com/etfs/specialty-etfs/25/03/44367584/black-swan-hedge-fund-posts-4000-profits-during-covid-19-market-crash-heres-how">&#8216;Black Swan&#8217; Hedge Fund Posts 4,000% Profits During COVID-19 Market Crash: Here&#8217;s How</a>



Anmuth noted the expected closing date for the deal is 2026 and believes the longer-than-usual closing reflects the regulatory scrutiny the acquisition will face. He sees the deal as a type of bellwether for the Trump administration's tolerance for large-scale mergers and acquisitions, which will have broader implications for other large-cap tech companies. 



&#8220;This deal will get careful scrutiny,&#8221; Michael Carrier, an antitrust law professor at Rutgers Law School, told Yahoo Finance.&nbsp;



&#8220;But at the end of the day, I believe it is likely to be approved given an anticipated less aggressive blocking of mergers and the AI angle,&#8221; Carrier added.&nbsp;



GOOG shares fell 2.34% on Tuesday following the announcement of the deal, which is Google's largest ever and also the largest ever in the cybersecurity sector.&nbsp;



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<li><a href="https://www.benzinga.com/news/events/25/03/44380519/soundhound-ai-at-2025-nvidia-gpu-technology-conference-in-car-voice-commerce-ecosystem-a-game-changer-for-automotivetech">SoundHound AI At 2025 NVIDIA GPU Technology Conference: In-car Voice Commerce Ecosystem &#8216;A Game-Changer For #AutomotiveTech&#8217;&nbsp;</a></li>
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Google's Wiz Acquisition Strengthens Cybersecurity Suite, Adds To 'Multicloud Value Proposition': Analyst

Oil prices tumbled Tuesday afternoon as traders reacted to President Donald Trump&#8216;s call with Russian President Vladimir Putin, which laid the groundwork for a <a href="https://www.benzinga.com/topic/ukraine">potential ceasefire in Ukraine. </a>



The West Texas Intermediate light crude, tracked by the United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), fell over 1% to $67 a barrel, reversing earlier session gains and snapping a two-day winning streak. 



Energy stocks, which on Monday had posted their best two-day streak since October 2022, took a breather as the market digested the geopolitical developments.



<h3 class="wp-block-heading">What Was Discussed In the Trump-Putin Call?</h3>



According to a White House readout, Trump and Putin agreed to an immediate halt on attacks targeting Russian and Ukrainian energy and infrastructure sites for 30 days. Additionally, they outlined plans for negotiations in the Middle East to establish a maritime ceasefire in the Black Sea.



Trump, in a post on Truth Social, described the call as "very good and productive," adding that "many elements of a Contract for Peace were discussed." He indicated that both Putin and Ukrainian President Volodymyr Zelenskyy "would like to see an end of the hostility. 



<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">My phone conversation today with President Putin of Russia was a very good and productive one. We agreed to an immediate Ceasefire on all Energy and Infrastructure, with an understanding that we will be working quickly to have a Complete Ceasefire and, ultimately, an END to this…&mdash; Trump Posts on &#120143; (@trump_repost) <a href="https://twitter.com/trump_repost/status/1902070296246669480?ref_src=twsrc%5Etfw">March 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



&#8220;We agreed to an immediate ceasefire on all energy and infrastructure, with an understanding that we will work quickly towards a complete ceasefire and, ultimately, an end to this very horrible war,&#8221; Trump wrote.



Putin, according to Russian sources, said that any resolution must be "comprehensive, sustainable, and long-term" while addressing Russia's security concerns. The Kremlin also stated that stopping foreign military aid to Ukraine is a key condition for de-escalation.



&#8220;The key condition for preventing escalation and pursuing a diplomatic resolution is the complete cessation of foreign military assistance and intelligence-sharing with Kyiv,&#8221; the Russian statement read.



<h3 class="wp-block-heading">How Energy Stocks Reacted</h3>



Energy stocks that had posted their strongest two-day rally since October 2022 paused their advance. 



The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) traded flat by 3:00 p.m. ET, though it remains up over 5% year-to-date, making it the best-performing S&amp;P 500 sector.



Among key oil equities, Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) slipped 0.2%, while Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) edged 0.7% higher. 



Meanwhile, natural gas stocks outperformed, with EQT Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQT#NYSE">EQT</a>) and Antero Resources Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AR#NYSE">AR</a>) climbing 2% and 3%, respectively. Antero extended its winning streak to seven consecutive sessions. 



U.S. natural gas prices at the Henry Hub facility rose 0.9% to $4.095 per million British thermal units.



Read now: 



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<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44379453/equity-exposure-plummets-cash-holdings-jump-as-investors-rethink-us-exceptionalism-bank-of-america-survey">Equity Exposure Plummets, Cash Holdings Jump As Investors Rethink &#8216;US Exceptionalism,&#8217; Bank Of America Survey</a></li>
</ul>



Photo: Shutterstock

Sector ETFs

Global

Oil Prices Slip, Energy Stocks Pause As Trump-Putin Call Signals Ukraine Ceasefire Progress

Investor confidence is slipping fast, with cash levels surging and U.S. equity exposure crumbling to two-year lows, according to Bank of America's <a href="https://www.benzinga.com/topic/expert-ideas">Global Fund Manager Survey. </a>



The shift marks the biggest pullback in risk appetite in years, as fears of economic stagnation and a potential trade war weigh on markets.



<h3 class="wp-block-heading">Are Investors Losing Faith In The US Market?</h3>



The survey, released Tuesday by Bank of America&#8217;s chief investment strategist Michael Hartnett, reveals a sharp drop in investor optimism, with stock allocations plunging and cash holdings rising.



The most notable shift in sentiment is the fading belief in &#8220;U.S. exceptionalism.&#8221; A staggering 69% of fund managers surveyed believe that the theme—centered on the idea that the U.S. economy and stock market can outperform the rest of the world—has peaked.



This has led to a record rotation out of U.S. stocks, with allocation dropping 40 percentage points month-over-month to a net 23% underweight, the lowest since June 2023.



Allocations to global equities have slumped from a net 35% overweight in February to just 6% in March—the lowest level in over four months and one of the largest monthly declines on record. 



Instead of moving into bonds, investors have parked their capital in cash, with allocation rising from from 3.5% to 4.1%.



Although the shift has effectively ended the contrarian &#8220;sell signal&#8221; from Dec. 17, 2024, Hartnett remains cautious, noting that fund managers are not heavily positioned for a recession or a deep bear market.



&#8220;No one is long recession/bonds, and FMS positioning is nowhere near extreme bear/close-your-eyes-and-buy levels,&#8221; he said.



Last week, the S&amp;P 500, tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), fell into a correction after dropping more than 10% from its February peak.



Since 1998, the S&amp;P 500 has experienced 11 corrections of at least 10%, with an average decline of 14.3%. Based on current levels, this would imply a potential drop to 5,268.



<h3 class="wp-block-heading">Macro Pessimism Nears Record Highs</h3>



Bank of America&#8217;s broadest measure of sentiment, which factors in cash levels, equity allocations and growth expectations, fell from 6.4 in February to 3.8 in March—a seven-month low.



The drop represents the largest single-month decline since March 2020 and the seventh-largest in 24 years. Historically, such sharp sentiment swings have only occurred during major financial crises, including the Great Recession in August 2007 and the European debt crisis in May 2010.



Fund managers are bracing for economic headwinds, with 63% expecting a weaker global economy in the next 12 months. 



This marks the second-largest monthly increase in macro pessimism on record, with data stretching back to 1994. The uncertainty surrounding global trade and inflationary pressures has driven investors toward safer assets.



<h3 class="wp-block-heading">What Are Fund Managers Betting On?</h3>



Gold remains the favored hedge against a potential economic downturn. If a full-blown trade war erupts, 58% of surveyed fund managers anticipate gold will be the best-performing asset. 



Since the start of the year, the bullion &#8211; tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) &#8211; has rallied by 14.3%.



The so-called &#8220;Magnificent Seven&#8221;—referring to 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>) —remains the most crowded trade, though enthusiasm has waned, with participation falling to its lowest level since November 2023.



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Photo: Shutterstock

Macro Economic Events

Broad U.S. Equity ETFs

Commodities

Insider Trades

AAPL

Equity Exposure Plummets, Cash Holdings Jump As Investors Rethink 'US Exceptionalism,' Bank Of America Survey

Volatility returned to Wall Street on Tuesday, with all major indexes trading in negative territory by midday in New York. Investors weighed the economic impact of potential tariffs from the Trump administration while questioning whether the long-standing dominance of <a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44379453/equity-exposure-plummets-cash-holdings-jump-as-investors-rethink-us-exceptionalism-bank-of-america-survey">U.S. equities has peaked. </a>



The S&amp;P 500 fell 1.1%, while the tech-heavy Nasdaq 100 dropped 1.5%. Blue-chip stocks provided no relief with the Dow Jones down 0.8%.



Data from Bank of America's Global Fund Manager Survey, released Tuesday, signaled a significant shift in asset allocation. Investor exposure to U.S. equities plunged 40 percentage points month-over-month to a net 23% underweight, the lowest level since June 2023. 



The Federal Reserve is set to hold its second policy meeting of the year on Wednesday. While markets widely expect interest rates to remain at 4%-4.25%, investors brace for updated economic projections that may reflect higher inflation estimates due to the tariff impact.



All Magnificent Seven tech giants traded in the red on Tuesday, with the Roundhill Magnificent Seven ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NYSE">MAGS</a>) hitting a seven-month low.



Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) tumbled 14% month-to-date, on track for its worst monthly performance since October 2022. Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) has plummeted 21% since February, marking its worst two-month decline since November 2008.



Amid rising economic uncertainty, gold surged over 1% to $3,040 per ounce, as haven demand intensified. The SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) is on track for its sixth consecutive session of gains, the longest streak since April 2024.



Meanwhile, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) remained under pressure, sliding 2.6% to $81,855.



<h1 class="wp-block-heading">Tuesday&#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>Dow Jones</td><td>41,492.66</td><td>-0.8%</td></tr><tr><td>Russell 2000</td><td>2,050.11</td><td>-0.9%</td></tr><tr><td>S&amp;P 500</td><td>5,612.52</td><td>-1.1%</td></tr><tr><td>Nasdaq 100</td><td>19,507.30</td><td>-1.5%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated at 1 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>) fell 1.1% to $560.89.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) dropped 0.9% to $415.47.</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;sunk 1.6% to $475.28.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) eased 1.1% to $203.16. </li>



<li>The&nbsp;Energy&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, yet still down 0.2%; the&nbsp;Communication Services&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) was the worst sector performer, down 1.8%.</li>
</ul>



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



<ul>
<li>XPeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) tumbled 7.7% in reaction to quarterly earnings. </li>



<li>Other stocks reacting to corporate earnings included KE Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEKE#NYSE">BEKE</a>), down 10.3%, Tencent Music Entertainment Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TME#NYSE">TME</a>), up 11.9% and Elbit System Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESLT#NASDAQ">ESLT</a>), up 11%. </li>



<li>Lucid Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) rallied 11.6% after Morgan Stanley upgraded the stock from Underweight to Equal-weight.</li>



<li>Sarepta Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRPT#NASDAQ">SRPT</a>) plunged 21% after reporting the death of a Duchenne muscular dystrophy patient who had been treated with Elevidys.</li>
</ul>



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Photo: Shutterstock

$BTC

BEKE

ESLT

LCID

MAGS

SRPT

XPEV

Wall Street Falters, Magnificent Seven Hit 7-Month Lows, Gold Rockets On Haven Demand: What's Driving Markets Tuesday?

A Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) analyst is significantly lowering the price target on the stock with concerns on full self-driving pricing and vehicle demand.



The analyst note comes with continued reports of low sales and used vehicle prices.



The Tesla Analyst: RBC Capital analyst Tom Narayan maintained an Outperform rating on Tesla while lowering the price target from $440 to $320.



"Much of the attention around Tesla has centered on its recent delivery performance in Jan and Feb in Europe and China," Narayan said.



Demand fears are likely overblown, according to Narayan. Europe and China, where Tesla is losing market share, represent a small portion of Tesla's overall vehicle sales, he adds.



Along with the potential for demand concerns, the analyst lowers FSD pricing assumptions and robotaxi penetration rates.



Narayan said FSD pricing could drop from $100/month today to $50/month in 2026.



"Level 2+ autonomy offerings are increasingly becoming standard features with some OEMs intentionally not seeking to make it a profit center, but rather as a product differentiator."



Tesla could also see lower than previously anticipated market share for robotaxis in Europe and China. It&#8217;s likely that domestic OEMs "dominate the market,&#8221; he says.



The latest price and market share changes lead to a lower sum-of-the-parts valuation with FSD going from $383 billion to $211 billion and robotaxis going from $879 billion to $641 billion.



Narayan also forecasts lower deliveries with an estimate of 11% delivery growth in fiscal 2025, down from an original forecast of 14% delivery growth.



Why It's Important: The big question from Narayan and other analysts is whether the lower delivery numbers are due to "political dynamics,&#8221; or have to do with the planned factory shutdowns for the Model Y refresh. Perhaps it&#8217;s a combination of both.



Electrek recently highlighted the sharp decline in used car prices for Tesla vehicles. The report said Tesla used car prices are falling three times the rate of the overall used car market.



Using data from CarGurus, the report said Tesla used prices are down 3.7% over the last three months and down 7.3% over the last year, compared to drops of 1.1% and 2.7% respectively for the overall used car market.



Among Tesla vehicles, the used car prices for the Cybertruck and Model S have been hit hardest falling 11.5% and 8.3% respectively over the last three months.



Benzinga recently polled readers to see if President Donald Trump&#8216;s purchase and praise for Tesla would impact their future vehicle-buying activity.



&#8220;Donald Trump recently bought a Tesla. How does this affect your view of Tesla?&#8221; Benzinga asked.



Here are the results:



<ul>
<li>I will never own a Tesla: 53%</li>



<li>I&#8217;m more likely to buy a Tesla:&nbsp;23%</li>



<li>I&#8217;m less likely to buy a Tesla: 14%</li>



<li>I already own a Tesla: 10%</li>
</ul>



The poll may have some bad news for Tesla fans and investors with the majority saying they will never own a Tesla vehicle.



The good news is that of undecided non-Tesla owners, 23% said they are more likely to buy a Tesla while 14% said they are less likely to buy a Tesla on account of Trump&#8217;s purchase and sales pitch for the EV company.



Tesla&#8217;s sales have dropped sharply in recent weeks, accompanied by demonstrations and vandalization against the company&#8217;s&nbsp;<a href="https://www.benzinga.com/25/03/44135841/elon-musk-slams-attacks-on-tesla-vehicles-after-incident-in-brookline-vandalism-is-not-free-speech" target="_blank" rel="noreferrer noopener">vehicles</a>, dealerships and charging hubs, according to&nbsp;<a href="https://abcnews.go.com/US/tesla-vehicles-destroyed-vandalized-musk-began-role-white/story?id=119677836" target="_blank" rel="noreferrer noopener">ABC News</a>. Declining sales are evident not just in the U.S., but also&nbsp;<a href="https://www.benzinga.com/news/25/03/44209579/unprecedented-slide-tesla-sales-plummet-45-in-europe-as-musks-net-worth-dives-5-2b-in-a-week" target="_blank" rel="noreferrer noopener">throughout Europe</a>,&nbsp;<a href="https://www.benzinga.com/tech/25/03/44069703/tesla-china-wholesale-numbers-are-unimportant-says-researcher-heres-what-matters-more" target="_blank" rel="noreferrer noopener">China</a>, and Australia.



A recent report from Electrek citing inventory checks and new order delivery timelines in the U.S. shows that so far Trump&#8217;s purchase and event has had&nbsp;<a href="https://www.benzinga.com/markets/25/03/44346155/trumps-tesla-shoutout-falls-flat-no-spike-in-orders-or-inventory-movement" target="_blank" rel="noreferrer noopener">a minimal impact&nbsp;</a>on Tesla&#8217;s sales and demand.



Tesla&#8217;s first-quarter sales figures, which will include the month of March will be among the most watched in recent years given boycotts, sales declines in Europe and now Trump&#8217;s sales pitch.



TSLA Price Action:&nbsp;Tesla stock is down 6% to $223.76 on Tuesday versus a 52-week trading range of $138.80 to $488.54. Tesla stock is down 41.0% year-to-date in 2025 and up 28.8% over the last year.



Tesla stock is now trading below where it was when Trump won the 2024 election. Tesla stock closed at $251.44 on Nov. 5 and opened for trading at $284.67 on Nov. 6 after&nbsp;<a href="https://www.benzinga.com/news/24/11/41768178/donald-trump-defeats-kamala-harris-to-win-2024-election" target="_blank" rel="noreferrer noopener">Trump&#8217;s victory was confirmed</a>.



The stock is down over 50% from all-time highs set in December.



Now Read:



<ul>
<li><a href="https://www.benzinga.com/news/25/03/44339973/trump-said-nobody-wants-to-buy-evs-2-years-ago-now-hes-endorsing-and-says-hes-buying-a-tesla-heres-what-else-hes-been-saying-about-evs">Trump Said &#8216;Nobody Wants To Buy&#8217; EVs 2 Years Ago—Now He&#8217;s Endorsing Tesla At The White House</a></li>
</ul>



Image: Shutterstock

Analyst Color

Price Target

Reiteration

Analyst Ratings

Tesla Analyst Says Demand Fears 'Overblown,' But Has Some Concerns As Used Car Prices Plummet

Hesai Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSAI#NASDAQ">HSAI</a>) stock is under pressure Tuesday after short seller Blue Orca Capital targeted the company in a new report alleging Hesai Group is actively <a href="https://www.benzinga.com/quote/HSAI">lying to investors</a>.



What To Know: Blue Orca Capital released a short report on Tuesday, calling Hesai group a &#8220;Chinese scam.&#8221; The short seller believes the company is lying by insisting it has no involvement with the Chinese military. Blue Orca also raised concerns around the company&#8217;s financial disclosures.



&#8220;In short, we think Hesai is full of lies, from its suspect financials to its denials made to the government and in court regarding its LiDAR and the Chinese military. In our opinion, it is completely untrustworthy as a business and uninvestable as a stock,&#8221; the short seller said.



Benzinga has reached out to Hesai Group for comment on the report. 



Blue Orca alleged that Hesai has lied to investors and U.S. authorities about the use of its lidar technology for military purposes. The short seller provided images that it uncovered from Chinese government owned CCTV that appears to show a Chinese military vehicle equipped with a Hesai lidar system. 



The Department of Defense (DOD) placed Hesai Group on a list of companies designated as &#8220;Chinese military companies&#8221; in January 2024. Hesai sued the DOD in an attempt to be removed from the list. The short seller believes Hesai will lose the case and in turn become effectively blocked from any lucrative deals in the U.S. autonomous vehicles market.



&#8220;As such, we believe that Hesai will soon lose a customer cohort which historically accounted for 40% of its revenues and an estimated 57% of its gross profit,&#8221; the short seller said.



Check This Out: <a href="https://www.benzinga.com/general/sports/25/03/44379231/warren-buffett-2025-march-madness-challenge-winner-no-longer-has-to-be-perfect-i-want-to-give-away-a-million-dollars">Warren Buffett 2025 March Madness Challenge Winner No Longer Has To Be Perfect: &#8216;I Want To Give Away A Million Dollars&#8217;</a>



Blue Orca also noted that Hesai Group shares surged late last year after the company reported that it became profitable. The short seller believes the profitability was a result of a $20 million break-up fee from its largest customer that was undisclosed to investors. Blue Orca also indicated that the company appears to be laying off up to 30% of its workforce. 



Hesai Group shares surged again last week after the company secured a multi-year deal with&nbsp;Mercedes-Benz&nbsp;to&nbsp;<a href="https://www.benzinga.com/pressreleases/25/03/n44237694/hesai-selected-by-top-european-oem-for-exclusive-multi-year-lidar-contract-on-its-next-generation-" target="_blank" rel="noreferrer noopener">supply lidar sensors</a>, closing the day up more than 50%. The short seller poked holes in the notion that the deal is &#8220;exclusive.&#8221; Blue Orca is also skeptical given that Mercedes was unwilling to publicly confirm the deal. The short seller noted that Hesai Group founders sold $68.6 million of stock following the spike.



Blue Orca went on to raise concerns about inconsistent purchasing volumes with reported sales, &#8220;inexplicable&#8221; margin expansion and the withdrawal of the company&#8217;s IPO in China. 



&#8220;Ultimately, we do not think that U.S. authorities will permit a Chinese military company whose products are equipped on Chinese military vehicles to take advantage of the privilege of American capital markets,&#8221; the short seller said.



HSAI Price Action: Hesai Group shares are up nearly 300% over the past year. The stock was down 8.5% at $20.39 at the time of publication Tuesday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.



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Photo: Shutterstock.

Short Sellers

Short Ideas

HSAI

Short Seller Says Hesai Group Stock Is A 'Chinese Scam'

President Donald Trump's proposal for a 200% tariff on European alcohol imports has sent shockwaves through the beverage industry, raising fears that champagne, cognac and high-end wines could soon be unaffordable for U.S. consumers and disappear <a href="https://www.benzinga.com/government/regulations/25/03/44301835/trump-threatens-200-tariff-on-european-wine-alcohol-stocks-react">from the market entirely.</a>



In an exclusive interview with Benzinga on Monday, Marten Lodewijks, President of IWRS America, a global leader in data and analytics for the beverage alcohol industry, said there is no scenario where a tariff of this magnitude does not inflict serious damage on European alcohol sales in the U.S. 



&#8220;China imposed a 220% tariff on Australian wine, and exports to China collapsed by 96%. That effectively shut down the entire export market,&#8221; he said, pointing to a precedent for how devastating such a move could be.



<h3 class="wp-block-heading">The Data Speaks: What Past Tariffs Tell Us</h3>



Tariffs on alcohol are not new, and past data provides insight into their potential impact. 



In 2019, a 25% tariff on U.S. whiskey exports to Europe resulted in a 20% decline in sales within a year. A similar 25% tariff on Scotch whisky imports to the U.S. led to a 17% drop in sales.



&#8220;This would significantly harm the European export market to the U.S., which remains one of the most valuable in the world,&#8221; Lodewijks said. 



The U.S. is the largest market for European wines and spirits, accounting for nearly a fifth of their total product shipments.



In 2024, the U.S. imported $5.6 billion worth of wine and $5.5 billion in other alcoholic beverages from the European Union, according to data from the International Trade Centre.



<h3 class="wp-block-heading">Who Stands To Lose The Most?</h3>



The biggest losers would be high-end European producers, particularly those relying on U.S. demand. French champagne, Italian prosecco, Spanish wines, and Scotch whisky all risk seeing sharp sales declines. 



American consumers, especially those accustomed to premium European wines and spirits, would also feel the impact through higher prices. 



Surprisingly, some U.S. whiskey producers could also be hit, as Europe and the UK—two of the biggest markets for American whiskey—may retaliate with their own tariffs. 



&#8220;The biggest market for U.S. whiskey is precisely the one facing tariffs,&#8221; Lodewijks said. 



<h3 class="wp-block-heading">Are There Any Winners?</h3>



Not all companies will be on the losing end. American craft whiskey and bourbon producers could see an uptick in demand as European imports become too expensive. 



Shares of Brown-Forman Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BF#NYSE">BF</a>), the maker of Jack Daniel's, have gained nearly 5% since Trump's tweet threatening a 200% tariff on European alcohol unless Brussels reduces tariffs on U.S. whiskey.



U.S. wineries may also benefit if French and Italian wines are priced out of the market, pushing consumers toward Napa Valley or Oregon Pinot Noir.



<h3 class="wp-block-heading">Industry Response: Stockpiling Before The Storm?</h3>



Facing the looming tariff risk, some industry players are front-loading inventory, importing products in bulk before potential price spikes. 



&#8220;Tequila producers, for example, are increasing shipments to the U.S. ahead of tariffs,&#8221; Lodewijks confirmed.



Yet, the U.S. alcohol market is already overstocked, limiting how much additional inventory can be absorbed. 



&#8220;Distributors are sitting on historic levels of stock. There's only so much they can take before logistics and financing become a problem,&#8221; Lodewijks said.



Beyond the immediate impact on pricing and supply chains, the biggest issue remains uncertainty. 



&#8220;The biggest problem with this trade war is the lack of clarity. It's changing every day,&#8221; Lodewijks said. This unpredictability makes it difficult for businesses to plan, creating a &#8220;paralysis&#8221; in decision-making.



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Photo: Shutterstock

Eurozone

Exclusives

LVMHF

REMYY

EXCLUSIVE: Trump's 200% Tariff Threat Could Price European Alcohol Out Of US Markets

The Oracle of Omaha is shaking things up this year with a rule change to his <a href="https://www.benzinga.com/topic/march-madness">March Madness bracket challenge</a>.



What Happened: In past years, billionaire Warren Buffett offered <a href="https://www.benzinga.com/general/entertainment/22/03/26224759/warren-buffett-owns-what-10-berkshire-acquisitions-you-may-have-forgotten">thousands of employees </a>who work at various companies owned by Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) the chance to win $1 billion — if they get <a href="https://www.benzinga.com/general/sports/24/03/37792771/warren-buffett-once-offered-1b-for-a-perfect-march-madness-bracket-now-pepsi-is-offering-100k-for-">a perfect bracket.</a>



For the 2025 March Madness challenge — which starts with a round of 64 games on Thursday, March 20 — Buffett is now offering a $1 million prize for the person who picks 30 of the 32 first-round games correctly.



"I'm getting older,&#8221; Buffett <a href="https://www.wsj.com/sports/march-madness-tournament-bracket-warren-buffett-05f94416">told </a>The Wall Street Journal. &#8220;I want to give away a million dollars to somebody while I'm still around as chairman.&#8221;



In 2024, around 65,000 of Berkshire's 400,000 employees participated in the challenge. With the odds increasingly better to win $1 million, it will be interesting to see if more people participate.



If no one claims the $1 million prize for at least 30 of the first 32 games picked correctly, a $250,000 prize is offered to the person who selects the most games right out of the 63 total matchups during the NCAA Men's National Basketball Tournament.



While Buffett often bets on making money, this time he's rooting to give away $1 million.



"Just think of the excitement it would create all over the place if somebody gets a million instead." I hope it's this year. We made it easier this year than ever."



Past Berkshire Hathaway employees have gotten at least 30 of the first 32 games correct, including Dwayne Johnson (not the actor/wrestler, but rather a steelworker at Precision Castparts). Johnson picked 31 of the first 32 games correctly and won $100,000 in 2017. If the rules from this year had been in play then, he would have won $1 million.



While the initial challenge to win $1 million got easier, Buffett also has a near-impossible challenge still in play. If anyone in the Berkshire Hathaway challenge correctly guesses the winners of the first 48 games correctly they win $1 million a year for life.



Read Also:<a href="https://www.benzinga.com/general/sports/25/03/44359867/robinhood-launches-march-madness-event-contracts-with-kalshi-change-the-world-of-finance-and-trading"> Robinhood Launches March Madness Event Contracts With Kalshi: &#8216;Change The World Of Finance And Trading&#8217;</a>



Why It's Important: As Benzinga has previously reported, the odds of selecting a perfect bracket are 1 in 9.2 quintillion if using a coinflip or basic 50/50 odds. The odds improve if using seeds, trends and basketball knowledge to around 1 in 128 billion.



Noone has ever had a perfect bracket in history based on public record.



The odds of winning Buffett's challenges depend on how many upsets there are in the early rounds. In 2019, one in every 3,080 brackets correctly predicted 30 of the first 32 games with minimal upsets. In 2021, one in every 1,578,469 brackets had 30 of the first 32 games correctly predicted based on numerous upsets.



The NCAA has only one bracket on record since 2016 that has correctly picked the first 48 games.



While Buffett is making it easier to win $1 million and a big prize, other companies will likely offer big prizes for perfect brackets, knowing the odds are near impossible.



This year, social media platform X, is <a href="https://x.com/XBusiness/status/1900293498177552601">offering </a>an out-of-this-world prize for anyone that can correctly predict a perfect bracket. Partnering with Uber Eats and SpaceX, X is giving away a trip to Mars on SpaceX's Starship in the future.



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Image: Shutterstock

Sports

Warren Buffett 2025 March Madness Challenge Winner No Longer Has To Be Perfect: 'I Want To Give Away A Million Dollars'

Apple Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) latest shipment data from China paints a concerning picture: foreign-branded phone shipments — a strong indicator of iPhone sales — dropped 21% <a href="https://www.benzinga.com/tech">year-over-year in January</a>.



That&#8217;s a sharp reversal from December's slight growth. 



While the decline adds to ongoing concerns over Apple's market position in China, a closer look at the numbers suggests the worst may be behind the company.



In a note shared Monday, Goldman Sachs analyst Michael Ng highlighted the latest data from the China Academy of Information and Communications Technology. Overall mobile phone shipments in China fell 14% year-over-year to 27.2 million units in January, the biggest decline since September's 24% drop.



See Also: <a href="https://www.benzinga.com/25/03/44372544/us-stocks-swing-as-futures-turn-flat-ahead-of-fomc-meeting-analysts-say-only-certainty-is-that-things-will-remain-uncertain-for-the-time-being">US Futures Show Caution Among Investors Ahead Of FOMC Meeting</a>



<h3 class="wp-block-heading">Is Apple Still Losing Ground in China?</h3>



The numbers reflect a clear trend: Apple's sales in China have been under pressure for months. From September to November 2024, foreign-branded phone shipments in the country collapsed by more than 40% annually each month, indicating that Apple was losing share to domestic competitors such as Huawei Technologies Co. and Xiaomi Corp. (OTCPK: XIACY)



Yet, the January figures offer a silver lining. While still negative on a yearly basis, the 21% year-over-year decline represents an improvement over the 40%-47% plunges seen in previous months.



Goldman Sachs notes that December and January results &#8220;may have benefited from inventory build&#8221; ahead of the implementation of national consumer smartphone subsidies on Jan. 20.



Additionally, foreign-branded shipments rose 17% month-over-month from December, suggesting some stabilization—though still below the typical seasonal jump of 51% seen in past years.



Foreign-branded phones held a 16% market share, up from 11% in December 2024, though still below the historical 17% in January 2024 and 48% in January 2023.



<h3 class="wp-block-heading">Goldman Sachs Holds &#8216;Buy&#8217; Rating, Keeps $294 Price Target On AAPL</h3>



Despite the weak shipment data, Goldman Sachs reaffirmed its &#8220;Buy&#8221; rating on AAPL with a 12-month price target of $294, implying a 37.7% upside from its latest closing price of $213.49. The valuation is based on 33x projected earnings for the next 12 months plus one year.



Apple shares were down 0.1% in premarket trading on Tuesday, reflecting cautious sentiment around the data.



The Cupertino-based tech giant is down 14.5% year-to-date, on track for the worst quarter since early 2022.



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Image: Shutterstock

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