Canadian Prime Minister Justin Trudeau announced on Tuesday that Canada would impose retaliatory tariffs on U.S. imports, after President Donald Trump placed 25% <a href="https://www.benzinga.com/news/large-cap/25/03/44121022/trumps-25-tariffs-on-auto-imports-are-worth-the-short-term-pain-says-ohio-gop-senator">levies on Canadian imports.</a>



The Details: Trudeau said the measures include a 25% tariff on CA$30 billion worth of U.S. goods, effective immediately, with an additional CA$125 billion in U.S. products facing the same 25% tariff in three weeks.



Read More: <a href="https://www.benzinga.com/news/earnings/25/03/44110273/trump-tariffs-will-raise-prices-within-days-target-ceo-says">Trump Tariffs Will Raise Prices &#8216;Within Days,&#8217; Target CEO Says</a>



Trump responded with a post from his Truth Social account that warned of increased tariffs equal to Canada's retaliatory measures.&nbsp;



"Please explain to Governor Trudeau, of Canada, that when he puts on a Retaliatory Tariff on the U.S., our Reciprocal Tariff will immediately increase by a like amount!" Trump wrote. 



Trump's 25% tariffs on Mexico and Canada and an additional 10% on goods from China unfolded into a trade war with China and Canada both pledging retaliatory tariffs. Mexican President Claudia Sheinbaum stated that Mexico would respond with tariffs to be announced on Sunday.



The Dow Jones has shed more than 1300 points in the last two days as events have unfolded. The Nasdaq Composite ended Tuesday's session down by 0.4%, despite a rebound in big tech stocks like NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and the S&amp;P 500 has erased all of its post-election gains.&nbsp;



Late Tuesday afternoon, Commerce Secretary Howard Lutnick said there could be an announcement from the Trump administration regarding some relief for goods from Mexico and Canada covered under the North American Free Trade Agreement.&nbsp;



"Both the Mexicans and the Canadians were on the phone with me all day today trying to show that they'll do better, and the president's listening, because you know he's very, very fair and very reasonable," Lutnick said in an interview with Fox Business.&nbsp;



"So I think he's going to work something out with them — it's not going to be a pause, none of that pause stuff, but I think he's going to figure out: you do more and I'll meet you in the middle some way and we're going to probably announcing that tomorrow, " Lutnick said.&nbsp;



What Else: President Trump is set<a href="https://www.benzinga.com/media/25/03/44102399/heres-how-to-watch-donald-trumps-address-to-congress-time-date-and-what-to-expect"> to address</a> Congress in the House chamber at 9 pm. ET Tuesday where he is expected to outline his administration&#8217;s key priorities, possibly touching on economic plans including tariffs and foreign relations. 



Read Next:<a href="https://www.benzinga.com/general/social-media/25/03/44098232/markets-tank-after-trump-confirms-more-tariffs-heres-what-wall-street-is-saying">&nbsp;</a>



<ul>
<li><a href="https://www.benzinga.com/general/social-media/25/03/44098232/markets-tank-after-trump-confirms-more-tariffs-heres-what-wall-street-is-saying">Markets Tank After Trump Confirms More Tariffs: Here&#8217;s What Wall Street Is Saying</a></li>
</ul>



Image: Shutterstock

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Trump Threatens More Tariffs After Canada Retaliates, Commerce Secretary Lutnick Says Relief Could Be Announced Wednesday

As inflation continues to burn wallets, with grocery prices expected to spike partially due to Donald Trump&#8216;s tariffs, Democrats are cooking up their own form of protest ahead of <a href="https://www.benzinga.com/media/25/03/44102399/heres-how-to-watch-donald-trumps-address-to-congress-time-date-and-what-to-expect">the president&#8217;s speech tonight</a>. 



And yes, eggs — or at least empty cartons — might just make an appearance.



What Happened: Late last year, the cost of eggs was on average $3.65. Now, consumers are paying an average of $5 per dozen. Some supermarkets, facing wholesale costs of $7 per dozen, are <a href="https://www.benzinga.com/markets/equities/25/02/43905413/trump-economy-as-egg-prices-soar-economist-mocks-shift-to-chickpeas">selling cartons at a loss</a>.



According to <a href="https://www.axios.com/2025/03/04/trump-congress-address-democrats-disrupt-plan">Axios</a>, Democrats may use this trend as fodder for a protest against Trump. After all, the MAGA campaign leading up to the 2024 election used high grocery prices as a talking point against the Biden administration.



Some lawmakers may opt for a simpler walkout should they hear lines they find offensive (i.e., anything critical of transgender kids). Others, including the Democratic Women&#8217;s Caucus, will likely don pink-colored clothes. 



Other potential protest props include noisemakers, hand clappers, red cards and even pocket-sized Constitutions to emphasize claims that Trump and his Department of Government Efficiency, or DOGE, has <a href="https://www.benzinga.com/media/25/03/44102399/heres-how-to-watch-donald-trumps-address-to-congress-time-date-and-what-to-expect">trampled on congressional authority</a>. 



Signs with anti-Trump or anti-DOGE messages are also on the table, taking inspiration from Rep. Rashida Tlaib's (D-Mich.) &#8220;war criminal&#8221; sign during Israeli Prime Minister Benjamin Netanyahu's speech last year.



See Also: <a href="https://www.benzinga.com/news/earnings/25/03/44110273/trump-tariffs-will-raise-prices-within-days-target-ceo-says">Trump Tariffs Will Raise Prices &#8216;Within Days,&#8217; This CEO Says</a>



Why It Matters: Behind closed doors, not every Democratic leader is on board with the protest. 



Theatrics, or disruptive stunts, could play right into Trump&#8217;s hands, these representatives argue.



Political egg-slinging isn&#8217;t new. Recall Rep. Joe Wilson (R-S.C.) yelling &#8220;You lie!&#8221; at President Barack Obama in 2009. Since then, heckling during speeches has become almost as common as campaign promises. 



Former President Joe Biden faced Republican jeers during his State of the Union addresses. 



During Trump&#8217;s first term, the then-45th president refused to shake then-House Speaker Nancy Pelosi&#8216;s hand at the start of his State of the Union address. Pelosi later tore apart the speech document at the <a href="https://www.benzinga.com/government/20/02/15255874/president-trumps-state-of-the-union-address-ended-up-being-another-partisan-theatrical">end of Trump&#8217;s address</a>.



Tonight&#8217;s speech, while not a formal State of the Union address, will take place in the House chamber at the U.S. Capitol. It will be broadcast live across multiple platforms at 9 p.m. EST.



CNN, PBS, and other major news outlets like The New York Times and The Washington Post, will air the event.



Live-streaming on platforms such as YouTube, Disney+, Hulu, Peacock and the Associated Press&#8217;s official channel will also be available.



Now Read:



<ul>
<li><a href="https://www.benzinga.com/general/social-media/25/03/44098232/markets-tank-after-trump-confirms-more-tariffs-heres-what-wall-street-is-saying" target="_blank" rel="noreferrer noopener">Markets Tank After Trump Confirms More Tariffs: Here's What Wall Street Is Saying</a></li>
</ul>



Image: Shutterstock

Eggs, Noisemakers, A Sea Of Pink: Will A Protest Scramble Trump In Tonight's Speech?

Federal Reserve Bank of New York president John Williams warned that tariffs will likely contribute to inflation but stressed that uncertainty remains over their broader economic impact, per a Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-03-04/fed-s-williams-says-tariffs-will-likely-lead-to-higher-us-prices?srnd=homepage-americas&amp;sref=TBDibEcD">report</a>.



What Happened: Speaking at the Bloomberg Invest conference in New York, Williams said he expects some inflationary effects from President Donald Trump's tariffs later this year, Bloomberg reported.



"You also have to factor in how does that affect economic activity—decisions by businesses to invest, consumers to spend?" Williams said during the Bloomberg event, highlighting the complexity of the trade war's impact.



Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/03/44116610/investors-shouldnt-run-to-the-hills-over-tariffs-dan-ives-points-to-8-ai-stocks-to-own">Investors Shouldn&#8217;t &#8216;Run To The Hills&#8217; Over Tariffs: Dan Ives Points To 8 AI Stocks &#8216;To Own&#8217;</a>



When asked by Bloomberg Television's Michael McKee about potential interest rate adjustments, Williams maintained that monetary policy remains "modestly restrictive" and sees no immediate need for changes. 



What Else: The Fed left borrowing costs unchanged in January and plans to hold steady unless inflation moves convincingly toward its 2% target.



Global markets have tumbled this week as Trump's tariffs on major trade partners deepened investor concerns. Traders and investors anticipate <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42944934/wall-street-slashes-interest-rate-cut-bets-after-jobs-data-are-hikes-back-on-the-table">three rate cuts this year</a> as the Fed navigates slowing growth and rising inflation risks.



Price Action: As of Tuesday afternoon, the SPDR S&amp;P 500 ETF Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NASDAQ">SPY</a>) is down 2.6% for the week, trading at $580.52.



Read Next:



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<li><a href="https://www.benzinga.com/general/restaurants/25/03/44097795/chipotle-ready-to-eat-tariff-costs-wont-charge-customers-more-we-dont-think-its-fair-to-the-consumer" target="_blank" rel="noreferrer noopener">Chipotle Ready To Eat Tariff Costs, Won't Charge Customers More: ‘We Don't Think It's Fair To The Consumer'</a></li>
</ul>

Fed's Williams Weighs Tariff Impact As Markets Brace For Uncertainty: Bloomberg

The White House Crypto Summit scheduled for March 7 will host a select group <a href="https://www.benzinga.com/crypto">of 20-25 industry leaders</a> in a roundtable setting, according to Fox Business journalist Eleanor Terrett.



As of March 4, official invitations for the event had yet to be distributed, reflecting a planning process still in flux.



The intimate gathering will include prominent figures from the cryptocurrency sector alongside key members of the Presidential Working Group on Digital Assets, signaling a focused discussion on the future of digital finance in the U.S.



Terrett <a href="https://x.com/EleanorTerrett/status/1896966911721607536">reported </a>that the guest list, smaller than initially expected, will feature notable industry figures such as Michael Saylor, alongside government officials like Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Attorney General Pam Bondi.



"The gathering of around 20-25 people will be a roundtable setting at the White House," Terrett wrote in her scoop on X, emphasizing the event's exclusive nature. 



The summit, led by David Sacks and overseen by Bo Hines, executive director of President Donald Trump's digital asset task force, aims to address critical policy decisions for the crypto industry.



The event's structure has drawn attention amid broader speculation about potential regulatory changes, including a zero crypto tax policy proposed by Eric Trump. 



However, experts like Adam Cochran, founder of Cinneamhain Ventures, have cautioned that such a policy faces significant hurdles. 



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44120900/donald-trumps-bitcoin-xrp-cardano-reserve-proposal-drives-wedge-in-crypto-industry">Donald Trump&#8217;s Bitcoin, XRP, Cardano Reserve Proposal Drives Wedge In Crypto Industry</a>



"Even if the president announced it or signed an executive order, it wouldn't automatically become law," Cochran stated on X, underscoring that tax law changes require Congressional approval under the U.S. Constitution.



While the roundtable will focus on a select group, a larger, invite-only reception is planned afterward across the street from the White House for those who cannot attend the main discussion.



"This is all happening in real time with plans not 100% finalized so things could change," Terrett noted, highlighting the fluid nature of the summit's preparations. 



The event marks President Trump's first major engagement with the crypto community since taking office, reflecting his vocal support for positioning the U.S. as a global leader in digital assets.



The summit comes as debate intensifies over crypto tax reform, with investors and policymakers weighing the implications of eliminating capital gains taxes on cryptocurrencies. 



Attendees will include prominent project founders, CEOs of major crypto firms, investors, and regulators, according to an official statement from the Office of Communications. 



While the agenda remains under wraps, the roundtable format suggests a collaborative approach to tackling these complex issues.



Read Next:<a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44117695/raoul-pal-predicts-extended-crypto-cycle-into-2026-bitcoin-solana-corrections-are-typical-volatility"> </a>



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44117695/raoul-pal-predicts-extended-crypto-cycle-into-2026-bitcoin-solana-corrections-are-typical-volatility">Raoul Pal Predicts Extended Crypto Cycle Into 2026, Bitcoin, Solana Corrections Are Typical Volatility</a></li>
</ul>



Photo: Shutterstock

Cryptocurrency

White House Crypto Summit To Feature Roundtable With Industry Leaders Including Michael Saylor

President Donald Trump's tariffs on Mexico, Canada and China went <a href="https://www.benzinga.com/news/global/25/02/44010093/trumps-plan-for-canada-mexico-china-tariffs-to-start-march-4-could-shake-stock-market">into effect Tuesday.</a>



A top tech analyst examines how tariffs might affect technology stocks.



The Analyst Takeaways: Wedbush analyst Daniel Ives said <a href="https://www.benzinga.com/news/global/25/02/43442219/why-beer-tequila-avocados-cars-iphone-prices-could-rise-trumps-tariffs-on-canada-mexico-china-to-hurt-several-sectors">tariffs could create</a> a "game of geopolitical poker," but he isn't panicking.



"There have been many times over the past few decades that geopolitical tensions and government actions have been a major overhang on stocks," Ives said.



The analyst cites wars, international conflicts, policy issues, debt crises, COVID-19, supply chain concerns, and currency battles as factors that have weighed on stocks previously.



"With Trump's Mexico and Canada tariffs now beginning and China tariffs on deck, investors around the world are entering a very nervous period especially for growth stocks."



Ives encourages investors to take a step back and remember that it was known that some form of tariffs by Trump were going to happen.



"It's all about how long it lasts and when negotiations start to get to deals on the table with China, Canada, Mexico and many other countries on reciprocal tariffs."



Ives expects Trump's speech to Congress on Tuesday to lay out more plans on his tariffs and the investments being made by tech companies in the U.S.



"The biggest risk to this market and AI Revolution trade in the near-term was that Trump takes an aggressive approach to China, chip export controls and broader global policy."



Ives said DeepSeek helped accelerate the China policies and the semiconductor sector will likely see increased export controls around China.



"There is one chip in the world fueling the AI Revolution and it's Nvidia."



The analyst said that in the current AI Arms Race, NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) GPUs are "the new gold or oil."



Ives said if the tariffs stay in place, "there will be major pain ahead for U.S. consumers."



"We caution this is all a game of high stakes poker to get other countries to the negotiating table and will very likely not last for an elongated period of time."



Read Also: <a href="https://www.benzinga.com/news/global/25/02/43795579/warren-buffett-unfazed-by-trumps-tariff-threats-oracle-of-omaha-bets-on-mexico-beer">Warren Buffett Unfazed By Trump&#8217;s Tariff Threats: Oracle Of Omaha Bets On Mexico, Beer</a>



The Tech Winners: The analyst said tariffs aren't likely to slow down the long-term tech trade with AI being the biggest tech storyline since the Industrial Revolution. Ives said tariffs could slow things down in the near-term.



Ives calls the following stocks as the winners of the AI Revolution in tech that will "remain the stocks to own."



<ul>
<li>Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>): $325 price target</li>



<li>Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>): $280 price target</li>



<li>Salesforce Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>): $425 price target</li>



<li>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>): $220 price target</li>



<li>Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>): $550 price target</li>



<li>Nvidia: $175 price target</li>



<li>Palantir Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>): $120 price target</li>



<li>Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>): $550 price target</li>
</ul>



"Any weakness is a buying opportunity in our view given the fundamental demand picture."



Ives said this is not the time to "run to the hills" and is the time to own the AI winners listed above.



Price Action: The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which often serves as a barometer of the overall tech sector, is down 1% to $491.91 on Tuesday. The ETF is down 4.0% year-to-date in 2025 and up 10.3% over the last year.



Read Next: 



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<li><a href="https://www.benzinga.com/general/restaurants/25/03/44097795/chipotle-ready-to-eat-tariff-costs-wont-charge-customers-more-we-dont-think-its-fair-to-the-consumer">Chipotle Ready To Eat Tariff Costs, Won&#8217;t Charge Customers More: &#8216;We Don&#8217;t Think It&#8217;s Fair To The Consumer&#8217;</a></li>
</ul>



Photo: Shutterstock

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Investors Shouldn't 'Run To The Hills' Over Tariffs: Dan Ives Points To 8 AI  Stocks 'To Own'

U.S. stocks were trading lower on Tuesday following the <a href="https://www.benzinga.com/25/03/44103406/us-stocks-futures-tumble-as-traders-await-trumps-congress-address-volatility-is-certainly-being-fed-by-trump-20-moves-says-expert">worst trading session of 2025</a>, as investor anxiety over impending tariffs weighed on sentiment. President Donald Trump stated Monday that negotiations with Canada and Mexico had reached an impasse ahead of Tuesday&#8217;s tariff deadline.



Treasury yields also declined, with the 10-year yield at 4.16%, while markets overwhelmingly expect the <a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44108079/no-bidders-no-safety-net-is-feds-liquidity-lifeline-drying-up-plus-etfs-to-watch">Federal Reserve</a> to hold interest rates steady in March.



Read Also: <a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44108913/tariffs-trump-tumult-how-to-trade-this-volatility-vix-surge">Tariffs, Trump, Tumult: How To Trade The Volatility Surge</a>



What Historical Data Says: Monday's market drop saw steep declines in the technology, energy and consumer discretionary sectors, making it the second-worst trading day of March on record.



However, per research from George Smith, portfolio strategist for LPL Financial, historical data suggests that such sharp declines have often been followed by stronger-than-average returns.



LPL Financial says that since 1950, the S&amp;P 500 has experienced 608 single-day losses of more than 1.75%, averaging about eight occurrences per year. Despite their unsettling nature, these drops have historically presented buying opportunities.



Read Also: <a href="https://www.benzinga.com/news/earnings/25/03/44110273/trump-tariffs-will-raise-prices-within-days-target-ceo-says">Trump Tariffs Will Raise Prices &#8216;Within Days,&#8217; Target CEO Says</a>



On average, the S&amp;P 500 has gained 1.5% one month after a 1.75% or greater daily loss, outperforming the historical one-month return of 0.7%. 



The outperformance extends over longer periods, with three-month, six-month, and one-year returns following such declines averaging 3.7%, 6.6%, and 12.2%, respectively—well above the historical averages of 2.2%, 4.5% and 9.2%. This suggests that while volatility remains a concern, past market patterns indicate a likelihood of recovery.



Price Action: As of Tuesday morning, the SPDR S&amp;P 500 ETF Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NASDAQ">SPY</a>) is down 3.6% for the week, trading at $574.54.



Read Next:



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<li><a href="https://www.benzinga.com/markets/bonds/25/03/44096578/leon-cooperman-says-he-likes-cash-calls-trumps-deficit-cutting-contractionary" target="_blank" rel="noreferrer noopener">Leon Cooperman Says He Likes Cash, Calls Trump's Deficit Cutting ‘Contractionary'</a></li>
</ul>



Photo: Shutterstock

Broad U.S. Equity ETFs

Economics

ETFs

Stock Market Sell-Off: History Shows S&P 500 Rebounds After Big Drops

U.S. stocks plunged Tuesday as President Donald Trump&#8216;s tariffs on key trade partners came into effect, prompting retaliatory measures and intensifying <a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44110685/markets-see-hardly-a-flesh-wound-so-far-but-centurys-biggest-trade-war-looms-says-bob-elliott">global trade tensions.</a>



The Dow Jones Industrial Average fell 1.8%, extending Monday&#8217;s sharp decline of nearly 650 points and heading towards its worst performance of 2025. The S&amp;P 500 decreased by 1.7%, while the Nasdaq Composite dropped 1.9%, putting it<a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44108913/tariffs-trump-tumult-how-to-trade-this-volatility-vix-surge"> on course</a> to enter correction territory, defined as a 10% drop from its recent peak.&nbsp;



Read More: <a href="https://www.benzinga.com/news/earnings/25/03/44110273/trump-tariffs-will-raise-prices-within-days-target-ceo-says">Trump Tariffs Will Raise Prices &#8216;Within Days,&#8217; Target CEO Says</a>



<a href="https://www.benzinga.com/25/03/44102599/canadian-pm-justin-trudeau-retaliates-with-25-tariffs-on-us-goods-amid-escalating-trade-war">Affected countries</a> announced retaliatory measures, further dampening investor sentiment.



China announced retaliatory tariffs of up to 15% on certain U.S. products, including chicken, wheat, corn, and cotton. Canadian Prime Minister Justin Trudeau declared that Canada would impose a 25% tariff on U.S. goods. Mexican President Claudia Sheinbaum stated that Mexico would respond with tariffs and other measures, to be announced on Sunday.



The yield on the US 10-year Treasury note fell to 4.13% on Tuesday, its lowest level since October 2024. Markets are now pricing in three quarter-point rate cuts by the Federal Reserve in 2025, according to data from CME FedWatch. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) slipped 0.58%. 



Natural gas futures rose more than 8% on Tuesday, above $4.45/MMBtu, the highest since December 2022. Stockpiles remain below the five-year average due to earlier extreme cold in the U.S. while LNG export flows have reached record levels. The United States Natural Gas Fund LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNG#NYSE">UNG</a>) ETF climbed 8.5%.&nbsp;



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) continued Monday's decline to trade below the $84,000 mark, leading crypto markets lower. 



<h2 class="wp-block-heading">Tuesday&#8217;s Performance In Major U.S. Indices, ETFs</h2>



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Major Indices</td><td>Price</td><td>1 day % chg.</td></tr><tr><td>Nasdaq 100</td><td>18,175.89</td><td>-0.99%</td></tr><tr><td>S&amp;P 500</td><td>5,772.73</td><td>-1.32%</td></tr><tr><td>Dow Jones</td><td>42,535.92</td><td>-1.52%</td></tr><tr><td>Russell 2000</td><td>2,064.42</td><td>-1.81%</td></tr></tbody></table></figure>



According to Benzinga Pro data:



<ul>
<li>The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was down 1.24% to $576.36. </li>



<li>The SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) was down 1.45% at $425.81.&nbsp;</li>



<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.8% to $493.08.&nbsp;</li>



<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) slid 1.1% to $205.00.</li>



<li>The Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) was down 2.17% to $207.38.&nbsp;</li>



<li>The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) was down 1.06% to $86.87.&nbsp;</li>
</ul>



<h2 class="wp-block-heading">Tuesday's Stock Movers:&nbsp;</h2>



Shares of Okta, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>), bucked the market trend, surging 18% after the company reported&nbsp;better-than-expected <a href="https://www.benzinga.com/analyst-ratings/upgrades/25/03/44108947/okta-stock-is-surging-tuesday-heres-why">financial results</a> on Monday. 



Stocks reacting to company earnings reports included:&nbsp;



<ul>
<li>Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>)&nbsp;</li>



<li>Best Buy Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>)&nbsp;</li>



<li>B. Riley Financial, Inc.(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RILY#NASDAQ">RILY</a>)&nbsp;</li>



<li>Okta, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>)&nbsp;</li>



<li>NuScale Power Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMR#NYSE">SMR</a>)&nbsp;</li>



<li>GitLab Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTLB#NASDAQ">GTLB</a>)&nbsp;</li>



<li>Curaleaf Hldgs Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>)&nbsp;</li>



<li>Dave Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAVE#NASDAQ">DAVE</a>)&nbsp;</li>



<li>Emergent BioSolutions Inc.&nbsp; (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EBS#NYSE">EBS</a>)&nbsp;</li>



<li>AST SpaceMobile, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>)&nbsp;</li>



<li>Concentra Group Holdings Parent, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CON#NYSE">CON</a>)&nbsp;</li>
</ul>



Companies reporting after Tuesday's closing bell include:&nbsp;



<ul>
<li>ChargePoint Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHPT#NYSE">CHPT</a>)</li>



<li>Ross Stores, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROST#NASDAQ">ROST</a>) </li>



<li>Rigel Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIGL#NASDAQ">RIGL</a>) </li>



<li>CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) </li>



<li>Box, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) </li>



<li>Sociedad Quimica y Minera S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQM#NYSE">SQM</a>) </li>



<li>AeroVironment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVAV#NASDAQ">AVAV</a>) </li>



<li>Stem, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STEM#NYSE">STEM</a>) </li>
</ul>



Read Next:<a href="https://www.benzinga.com/general/social-media/25/03/44098232/markets-tank-after-trump-confirms-more-tariffs-heres-what-wall-street-is-saying">&nbsp;</a>



<ul>
<li><a href="https://www.benzinga.com/general/social-media/25/03/44098232/markets-tank-after-trump-confirms-more-tariffs-heres-what-wall-street-is-saying">Markets Tank After Trump Confirms More Tariffs: Here&#8217;s What Wall Street Is Saying</a></li>
</ul>



Image: Shutterstock

Market Summary

Sector ETFs

Movers

General

$BTC

ASTS

AVAV

CHPT

CRWD

CURLF

DAVE

GTLB

OKTA

RIGL

RILY

ROST

STEM

Stocks Drop As Trade War Escalates: What's Driving Markets Tuesday?

Starting Tuesday, U.S. President Donald Trump vowed to impose a 25% tariff on imported goods from Mexico and Canada and to double tariffs on <a target="_blank" href="https://www.benzinga.com/news/global/25/02/44010093/trumps-plan-for-canada-mexico-china-tariffs-to-start-march-4-could-shake-stock-market" rel="noreferrer noopener">those from China to 20%</a>.



Some GDP forecasts have turned negative, and consumer spending unexpectedly fell in January, raising concerns about economic growth. Inflation remains stubborn, with January's Consumer Price Index rising 3%, <a target="_blank" href="https://www.benzinga.com/news/25/03/44092335/trumps-tariffs-threaten-canada-mexico-china-and-american-wallets" rel="noreferrer noopener">exceeding economists' expectations</a>.



Tariffs could push prices even higher since they typically raise costs. Canada, Mexico, and China have warned they will respond with their own tariffs, increasing the risk of a trade war. If inflation stays above the Federal Reserve's 2% target, interest rates may stay high for longer than anticipated.



Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/25/03/44114754/stock-market-sell-off-history-shows-sp-500-rebounds-after-big-drops" rel="noreferrer noopener">Stock Market Sell-Off: History Shows S&amp;P 500 Rebounds After Big Drops</a>



On Tuesday, Mexican President Claudia Sheinbaum said there was no justification for Trump's 25% tariffs on imports from Mexico and that her government would respond with tariff and non-tariff measures.



"There is no reason, rationale or justification to support this decision that will affect our people and nations &#8230; Nobody wins with this decision,"



Mexico decided to wait until Sunday.



Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2025-03-04/mexico-s-sheinbaum-to-announce-trump-counter-measures-sunday?srnd=homepage-americas&amp;sref=TBDibEcD" rel="noreferrer noopener">reports</a> that the Mexican peso slumped as much as 1.5% against the U.S. dollar on Tuesday.



Mexico ETFs, iShares MSCI Mexico ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWW#NYSE">EWW</a>) and Franklin FTSE Mexico ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLMX#NYSE">FLMX</a>) were down 2.47% and 2.73%, respectively.



Trump <a target="_blank" href="https://www.whitehouse.gov/fact-sheets/2025/03/fact-sheet-president-donald-j-trump-proceeds-with-tariffs-on-imports-from-canada-and-mexico/" rel="noreferrer noopener">said</a> Monday that Mexico, Canada, and China haven't done enough to stop fentanyl and its chemicals from reaching the U.S. In response, Sheinbaum said Mexico has worked with the U.S. on migration, security, and drug trafficking efforts.



The Mexican president dismissed the claim as "offensive, baseless, and defamatory," AP News wrote.



She then <a target="_blank" href="https://apnews.com/article/trade-war-mexico-trump-9cefdded035a0b35e700a7ba0bfc34b4" rel="noreferrer noopener">highlighted</a> her administration's efforts against drug cartels, mentioning the seizure of over a ton of fentanyl and the shutdown of 329 meth labs. She also pointed out that Mexico recently extradited 29 cartel members to the U.S.



On Tuesday, China hit back at Trump's recent tariff hikes by placing its own tariffs on certain U.S. goods, sanctioning American companies, and planning to file a complaint with&nbsp;<a target="_blank" href="https://www.benzinga.com/general/health-care/25/03/44110625/us-firm-illumina-faces-setback-as-china-blocks-imports-amid-escalating-trade-war" rel="noreferrer noopener">the World Trade Organization</a>.



Beijing has imposed a 15% tax on American poultry, wheat, corn, and cotton in response to the U.S. doubling tariffs on Chinese products. A 10% tariff will also apply to soybeans, pork, beef, and other food items.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/news/earnings/25/03/44110273/trump-tariffs-will-raise-prices-within-days-target-ceo-says" target="_blank" rel="noreferrer noopener">Trump Tariffs Will Raise Prices ‘Within Days,' Target CEO Says</a></li>
</ul>



Image via Shutterstock

Markets

FLMX

MEXX

After China, Mexico To Hit Back Against Trump's Tariffs, Raising Trade War Risks

The tariff war just escalated, and according to Bob Elliott, CIO at Unlimited Funds and former Bridgewater Associates' strategist, we&#8217;re staring <a href="https://www.benzinga.com/topic/tariffs">at trade barriers</a> that will soon surpass the Smoot-Hawley days. 



With today&#8217;s rollout of 25% levies on Canada and Mexico, plus another 10% on China, more than 40% of planned tariffs are now in place &#8211; hitting U.S. consumers and businesses with an estimated $160 billion in added costs, he <a href="https://x.com/BobEUnlimited/status/1896881151849230718">said</a> on X.



<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">The new admin followed through on its promise to impose 25% levies on CAN and MEX and an additional 10% on China today, bringing the total costs of these new tariffs to an estimated 160bln on US consumers and biz. That marks the implementation of just over 40% of the plans. <a href="https://t.co/fTiTGkObrJ">pic.twitter.com/fTiTGkObrJ</a>&mdash; Bob Elliott (@BobEUnlimited) <a href="https://twitter.com/BobEUnlimited/status/1896881154231537685?ref_src=twsrc%5Etfw">March 4, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Read Also: <a href="https://www.benzinga.com/25/02/43493589/did-a-100-billion-bond-sell-off-just-signal-a-capital-war-ex-bridgewater-strategist-sees-warning-signs">Did A $100 Billion Bond Sell-Off Signal A Capital War? Ex-Bridgewater Strategist Sees Warning Signs</a>



<h2 class="wp-block-heading">A Trade War Decades In The Making</h2>



The new tariffs bring U.S. trade restrictions to their highest level since the 1960s. But that's just the start. If all planned tariffs are implemented, Elliott warns, the U.S. tariff rate will surge past 20%, the highest since pre-WWI. 



&#8220;Even the implemented tariffs are likely to have a substantial impact, but there are notably more to come,&#8221; he notes, pointing to looming country-specific and product-specific levies that will further strain global trade.



<h2 class="wp-block-heading">Retaliation Is Coming &#8211; And The Pain Won't Be One-Sided</h2>



So far, the response from trade partners has been "relatively modest", as Elliott puts it, with China targeting another $22 billion in U.S. goods and Canada set to confirm the first phase of its countermeasures. But that restraint may not last. 



If Canada and Mexico fully retaliate with tariffs of their own, Elliott estimates U.S. manufacturing could take a 1% GDP hit just from lost exports. 



Meanwhile, foreign economies facing disrupted supply chains could experience a severe drag on growth.



<h2 class="wp-block-heading">Stocks Shrug, But For How Long?</h2>



<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">While stocks have occasionally sold off on the incremental news of these policies coming to fruition, global stocks remain just off all time highs. Hardly a flesh wound given the world is facing the largest trade war in more than a century at a time when trade is 2-3x the size. <a href="https://t.co/zQAZbIdDuV">pic.twitter.com/zQAZbIdDuV</a>&mdash; Bob Elliott (@BobEUnlimited) <a href="https://twitter.com/BobEUnlimited/status/1896881172120277493?ref_src=twsrc%5Etfw">March 4, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Despite these historic trade tensions, global equities are still hovering near all-time highs &#8211; a surprising resilience that Elliott calls into question. &#8220;Hardly a flesh wound given the world is facing the largest trade war in more than a century,&#8221; he says. 



But as the full impact of tariffs unfolds, the industries could see increased volatility:



<ul>
<li>Industrials, as tracked by the Industrial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>)</li>



<li>Materials &#8211; Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>), and</li>



<li>Emerging markets &#8211; iShares MSCI Emerging Markets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EEM#NYSE">EEM</a>) </li>
</ul>



Whether this is a temporary power play for better trade deals or the start of a long-term shift in global trade remains to be seen.



If it's the latter, Elliott warns, brace for a "significant negative global economic shock" that markets aren't yet pricing in.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44108079/no-bidders-no-safety-net-is-feds-liquidity-lifeline-drying-up-plus-etfs-to-watch">No Bidders, No Safety Net: Is Fed&#8217;s Liquidity Lifeline Drying Up? Plus, ETFs To Watch</a></li>
</ul>



Photo: Bigc Studio/Shutterstock.com

Macro Economic Events

Markets See 'Hardly A Flesh Wound' So Far, But Century's Biggest Trade War Looms, Says Bob Elliott

President Donald Trump's new tariffs went into effect on Tuesday, rattling businesses and consumers. Target CEO Brian Cornell said on Tuesday that shoppers will see higher prices on the shelves as <a href="https://www.benzinga.com/25/03/44106754/targets-q4-earnings-beat-estimates-warns-consumer-uncertainty-impact-in-q1-profits">soon as this week.&nbsp;</a>



The Details: Cornell told CNBC in an <a href="https://www.cnbc.com/2025/03/04/trump-mexico-tariffs-will-raise-produce-prices-target-ceo-cornell-says.html">interview</a> that prices for fresh fruits and vegetables will rise, including avocados, strawberries and bananas imported from Mexico due to the 25% tariff now in place.&nbsp;



The CEO explained that due to the nature of fresh foods' "really short supply chains," shoppers will see the prices go up quickly.&nbsp;



Read Next:<a href="https://www.benzinga.com/general/social-media/25/03/44098232/markets-tank-after-trump-confirms-more-tariffs-heres-what-wall-street-is-saying"> Markets Tank After Trump Confirms More Tariffs: Here&#8217;s What Wall Street Is Saying</a>



"Those are categories where we'll try to protect pricing, but the consumer will likely see price increases over the next couple of days," Cornell said.&nbsp;



"If there's a 25% tariff, those prices will go up," he added.



Target will work to keep prices low and provide value to its budget-conscious customers by reducing its reliance on goods imported from China and Mexico. Cornell said Target has already reduced its goods from China from 60% to 30% and is on the "path to get it down to 25%."&nbsp;



Looking Ahead: The retail giant released its fourth-quarter<a href="https://www.benzinga.com/pressreleases/25/03/n44103957/target-corporation-reports-fourth-quarter-and-full-year-2024-earnings"> financial results</a> on Tuesday morning and cautioned that it sees "meaningful" pressure on profits in the first quarter.&nbsp;



"In light of ongoing consumer uncertainty and a small decline in February Net Sales, combined with tariff uncertainty and the expected timing of certain costs within the fiscal year, the Company expects to see meaningful year-over-year profit pressure in its first quarter relative to the remainder of the year," Target wrote in its press release.&nbsp;



Cornell said "there is some concern about tariffs" that adds to the pressure already facing inflation-weary and "cautious" consumers.&nbsp;



"We will continue to monitor these trends and will remain appropriately cautious with our expectations for the year ahead,&#8221; Target CFO Jim Lee said.&nbsp;



TGT Price Action: According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Target shares are down 4.07% at $115.85 at the time of publication Tuesday.&nbsp;



Read Next:



<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/02/44015237/pending-home-sales-crash-to-record-low-jobless-claims-soar-wall-street-reacts">Pending Home Sales Crash To Record Low, Jobless Claims Soar: Wall Street Reacts</a></li>
</ul>



Image: Shutterstock

Earnings

Trump Tariffs Will Raise Prices 'Within Days,' Target CEO Says

The stock market just got a fresh jolt of turbulence, and traders are buckling up for more. Monday's rollercoaster session saw the S&amp;P 500 index wipe out a staggering $1.5 trillion in value as trade war fears reignited. 



ETFs tracking the index closed lower: the SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) closed lower by 1.75% while the Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) and the iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>) were down 1.72% on Monday close.



Related: <a href="https://www.benzinga.com/general/social-media/25/03/44098232/markets-tank-after-trump-confirms-more-tariffs-heres-what-wall-street-is-saying">Markets Tank After Trump Confirms More Tariffs: Here&#8217;s What Wall Street Is Saying</a>



With tariffs on Canada, Mexico and China ramping up, volatility is officially back in business. The VIX has surged over 33% over the past month:



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="696" height="449" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/04062926/Screenshot-2025-03-04-at-4.59.09-PM.png" alt="" class="wp-image-807881" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/04062926/Screenshot-2025-03-04-at-4.59.09-PM.png 696w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/04062926/Screenshot-2025-03-04-at-4.59.09-PM-300x194.png 300w" sizes="(max-width: 696px) 100vw, 696px" /></figure>



Chart source: <a href="https://www.google.com/finance/quote/VIX:INDEXCBOE?sa=X&amp;ved=2ahUKEwiiwuP0qPCLAxV0Q2cHHSTZBhcQ3ecFegQIMhAX&amp;window=1M">Google Finance</a>



But for investors, chaos breeds opportunity &#8211; if you know how to play it.



<h2 class="wp-block-heading">1. The VIX Is Screaming &#8211; Use It</h2>



The Cboe Volatility Index ($VIX) is Wall Street's fear gauge, and when it spikes, traders take notice. With uncertainty surging, options-based strategies become lucrative. 



Investors can hedge against further market swings with the ProShares Ultra VIX Short-Term Futures ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/UVXY#BATS">UVXY</a>) or the iPath Series B S&amp;P 500 VIX Short-Term Futures ETN (BATS:<a class="ticker" href="https://www.benzinga.com/stock/VXX#BATS">VXX</a>). 



But beware—these are short-term tools, not long-term holds.



<h2 class="wp-block-heading">2. Play Defense With Broad Market ETFs</h2>



When markets get rocky, smart money often rotates into low-volatility and defensive plays. 



The Invesco S&amp;P 500 Low Volatility ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPLV#NYSE">SPLV</a>) offers exposure to less turbulent stocks, while the iShares MSCI USA Minimum Volatility ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/USMV#BATS">USMV</a>) helps cushion the downside. 



For those who expect more fireworks but want to stay long equities, the SPY remains a solid way to ride out the storm.



<h2 class="wp-block-heading">3. Don't Fight The Tape &#8211; Trade Trends</h2>



With uncertainty swirling, trend-following strategies gain an edge. Investors looking for short-term gains might consider the ProShares Short S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SH#NYSE">SH</a>) for bearish exposure or the ProShares UltraPro Short S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPXU#NYSE">SPXU</a>) for amplified downside bets. 



Meanwhile, gold, often a safe-haven asset, is seeing renewed interest through ETFs like SPDR Gold Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>).



With Trump hinting at more "big" announcements by Wednesday night, expect the volatility train to keep rolling. The question isn't whether markets will move &#8211; it's whether you're ready to trade the storm.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/bonds/25/03/44096578/leon-cooperman-says-he-likes-cash-calls-trumps-deficit-cutting-contractionary">Leon Cooperman Says He Likes Cash, Calls Trump&#8217;s Deficit Cutting &#8216;Contractionary&#8217;</a></li>
</ul>



Image via Shutterstock

Long Ideas

Specialty ETFs

SPLV

SPXU

USMV

UVXY

Tariffs, Trump, Tumult: How To Trade The Volatility Surge

Best Buy Co Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>) shares are <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">trading lower in premarket</a> on Tuesday.



The company reported a fourth-quarter sales decline of 4.8% year-on-year to $13.948 billion, beating the analyst <a target="_blank" href="https://www.benzinga.com/pressreleases/25/03/b44104493/best-buy-reports-fourth-quarter-results" rel="noreferrer noopener">consensus estimate of $13.702 billion.</a>



Domestic revenue decreased 5.2% Y/Y and International revenue decreased&nbsp;0.2%. Enterprise comparable sales increased 0.5%.



Gross profit fell 2.8% Y/Y to $2.9 billion, with the margin expanding 40 basis points to 20.9%. Operating margin contracted 220 basis points to 1.6%. Operating income for the quarter fell 61.3% to $217 million.



Non-GAAP&nbsp;EPS of $2.58 <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beat the analyst consensus of $2.40.</a>



Best Buy held $1.57 billion in cash and equivalents as of February 1. Operating cash flow for the twelve months totaled $2.1 billion.



Also Read: <a target="_blank" href="https://www.benzinga.com/news/management/25/03/44103926/grocery-giant-albertsons-names-susan-morris-as-new-ceo" rel="noreferrer noopener">Grocery Giant Albertsons Names Susan Morris As New CEO</a>



In the fourth quarter of FY25, the company returned a total of $415 million to shareholders through dividends of $200 million and share repurchases of $215 million.



The company&#8217;s board of directors approved a 1% increase in the regular quarterly dividend to $0.95 per share.&nbsp;The regular quarterly dividend will be payable on April 15 to shareholders of record as of the close of business on March 25.



&#8220;I am pleased to report better-than-expected sales for the fourth quarter driven by strong growth in computing as well as improved sales performance in other categories,&#8221; said Corie Barry, Best Buy CEO.



Outlook: Best Buy sees FY26 adjusted EPS of $6.20 &#8211; $6.60 <a href="https://www.benzinga.com/calendars/guidance">versus the estimate of $6.55.</a>



Best Buy expects FY26 revenue of $41.4 billion &#8211; $42.2 billion versus an estimate of $41.82 billion. The company expects comparable sales of 0.0% to 2.0% and capital expenditures of $700 million &#8211; $750 million.



The company&#8217;s FY26 guidance does not include the impact of recently implemented or proposed tariffs. The company expects to spend approximately $300 million on share repurchases during FY26.



Matt Bilunas, Best Buy CFO, said, &#8220;As we enter FY26, we believe consumer behavior will be largely similar to last year – remaining resilient but still dealing with high inflation that is driving expenses up across their lives, making them value focused and thoughtful about big ticket purchases..This leads to our comparable sales guide in the range of flat to&nbsp;2%&nbsp;growth for the year, with growth weighted more to the second half of the year based on the timing of product launches and initiatives.&#8221;



For the first quarter of FY26, the company expects comparable sales to be slightly down to last year and adjusted operating income rate to be approximately&nbsp;3.4%.



Price Action: BBY shares are trading lower by 5.52% at $81.95 in premarket at last check Tuesday.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/news/large-cap/25/03/44081963/ford-february-us-sales-slide-8-9-ev-sales-jump-15-details" target="_blank" rel="noreferrer noopener">Ford February US Sales Slide 8.9%, EV Sales Jump 15%: Details</a></li>
</ul>



Image via Shutterstock.

Equities

Guidance

Dividends

Best Buy Q4 Earnings: Sales Dip, Solid Computing Demand, Dividend Hike And More

Shares of Target Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) are trading lower in <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">premarket on Tuesday</a> after the fourth-quarter FY24 earnings.



The company reported a <a target="_blank" href="https://www.benzinga.com/pressreleases/25/03/n44103957/target-corporation-reports-fourth-quarter-and-full-year-2024-earnings" rel="noreferrer noopener">fourth-quarter sales decline </a>of 3.1% year-on-year to $30.91 billion, beating the analyst consensus estimate of $30.84 billion.



Comparable sales increased 1.5% in the fourth quarter, reflecting strong traffic and digital performance. Digital comparable sales grew 8.7%.



Adjusted EPS of $2.41 <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beat the consensus</a> estimate of $2.26.



Gross margin for the quarter contracted by 40 basis points to 26.2%, reflecting higher digital fulfillment and supply chain costs and higher promotional and clearance markdown rates.



Operating&nbsp;income margin rate of 4.7% was 110 basis points lower than last year, and the&nbsp;operating income for the quarter plunged 21.3% to $1.47 billion.



The&nbsp;company held $4.7 billion in cash and equivalents&nbsp;as of February 1.&nbsp;Operating cash flow for twelve months totaled $7.4 billion.



Also Read: <a target="_blank" href="https://www.benzinga.com/news/large-cap/25/03/44081963/ford-february-us-sales-slide-8-9-ev-sales-jump-15-details" rel="noreferrer noopener">Ford February US Sales Slide 8.9%, EV Sales Jump 15%: Details</a>



Inventory as of February was $12.74 billion, compared to $11.8 billion last year. The company paid dividends of $513 million in the fourth quarter, compared with $508 million last year.



As of the end of the fourth quarter, TGT had approximately&nbsp;$8.7 billion&nbsp;of remaining capacity under the repurchase program approved by the Board of Directors in&nbsp;August 2021.



&#8220;Our team grew traffic and delivered better-than-expected sales and profitability in our biggest quarter of the year,&#8221;&nbsp;said chair and chief executive officer Brian Cornell.



&#8220;Results were led by strong performance in Beauty, Apparel, Entertainment, Sporting Goods and Toys. As we look ahead, our continued investments in digital capabilities, stores and supply chain—combined with a focus on newness, value, speed and reliability—will further differentiate our one-of-a-kind physical and digital shopping experience.&#8221;



Outlook: Target expects FY25 adjusted EPS of $8.80 – $9.80 versus an estimate of $9.31. It sees comparable sales to be flat. The company sees FY25 sales growth <a href="https://www.benzinga.com/calendars/guidance">to be around 1%.</a>



Due to continued consumer uncertainty, a slight drop in February net sales, tariff instability, and the anticipated timing of certain expenses throughout the fiscal year, the company expects to face significant year-over-year profit challenges in the first quarter compared to the rest of the year.



&#8220;During February, we saw record performance around Valentines Day. However, our topline performance for the month was soft, as uncharacteristically cold weather across the U.S. affected apparel sales, and declining consumer confidence impacted our discretionary assortment overall,&#8221; said&nbsp;Jim Lee, chief financial officer.



Price Action: TGT shares traded lower by 1.88% at $118.49 in premarket at last check Tuesday.



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Photo via Shutterstock.

Target CEO Cautions Tariffs Will Pressure FY25 Profit, Consumer Uncertainty To Hit Feb Sales

Arthur Hayes, co-founder of BitMEX and prominent crypto investor, on Tuesday reaffirmed his bullish outlook on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), stating that the cryptocurrency's lowest point for 2025 is <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/44063764/cryptos-trump-era-honeymoon-fades-as-regulatory-reality-sets-in">unlikely to dip below $70,000</a>.



He also reiterated his long-term target of $1 million per Bitcoin, a forecast he insists remains intact despite recent market turbulence.



What Happened: In a blog <a href="https://cryptohayes.substack.com/p/kiss-of-death">post</a> on Monday, Hayes stated, "The bottom at worst will be the previous cycle's all-time high of $70,000."



Despite acknowledging potential short-term dips, he maintained that Bitcoin is in the midst of a broader bull cycle, driven by a confluence of economic factors, including government debt financing and global liquidity issues. 



"Bitcoin will bottom first and then start rising as the fiat financial system, led by U.S. stocks, plays catch-up," Hayes explained.



Hayes&#8217; analysis reflects his confidence in Bitcoin's resilience, even in the face of broader economic challenges. 



He noted that while Bitcoin's price could temporarily fall to $70,000 amid broader financial market corrections, it will eventually recover. 



&#8220;Bitcoin is screaming that a liquidity crisis is nigh, even though the U.S. stock market indices are still near their all-time highs,&#8221; Hayes added, signaling his belief that Bitcoin is a leading indicator for global financial conditions.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44077079/analysts-doubt-us-crypto-reserve-expansion-beyond-bitcoin-cite-funding-challenges">Analysts Doubt US Crypto Reserve Expansion Beyond Bitcoin, Cite Funding Challenges</a>



What&#8217;s Next: Despite the market fluctuations, Hayes remains firm in his long-term outlook for Bitcoin.



He suggested that the ongoing liquidity expansion, particularly with US Treasury and Federal Reserve policies, would propel Bitcoin to new heights. 



&#8220;Given the Bitcoin market cap is much larger now than it was during the 2020 liquidity-driven bull run, we're conservatively looking at a 10x rise for $3.24 trillion of money printing in the US alone,&#8221; he stated. 



His vision hinges on the actions of the U.S. government and Federal Reserve, both of which, he believes, will continue to inject liquidity into the market, benefiting Bitcoin's value over time.



Hayes also touched on the potential impact of U.S. President Donald Trump's policies on Bitcoin's growth. 



He forecasted that if Trump continues his debt-financed economic strategy and pushes for policies that maintain liquidity in the global system, Bitcoin's long-term value will be supported. 



"If my predictions are generally correct, Bitcoin will rise as global markets, led by the US, begin to reflate," Hayes explained.



While acknowledging the short-term challenges, Hayes emphasized the broader macroeconomic factors that continue to support his optimistic forecast for Bitcoin's future. 



As global financial systems face liquidity issues and inflationary pressures, Bitcoin's role as a hedge against fiat currency debasement is set to strengthen.



Read Next: 



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<li><a href="https://www.benzinga.com/25/03/44072895/trading-agents-lead-ai-web3-future-says-galxe-co-founder-charles-wayn">Trading Agents Lead AI-Web3 Future, Says Galxe Co-Founder Charles Wayn</a></li>
</ul>



Image created using artificial intelligence with Midjourney.

Bitcoin Bottom Will Be $70,000 'At Worst,' Arthur Hayes Says

U.S. stock futures declined on Tuesday following the worst trading day of 2025 on Monday. Futures of all benchmark indices fell in premarket trading except Nasdaq 100.



Investor anxiety over tariffs loomed as the March 4 deadline for tariff imposition on Mexico and Canada neared. President Donald Trump indicated on Monday that there was &#8220;no room left&#8221; for tariff negotiations with Canada and Mexico. He will be addressing the Congress today, which is expected to give further clarity on tariffs and other policies.



Meanwhile, the Treasury yields slipped further on Tuesday. The 10-year Treasury yield stood at 4.16%, while the two-year yield was at 3.93%. According to the CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>, there is a 91% chance that the Federal Reserve will keep interest rates unchanged for the March meeting. 



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Nasdaq 100</td><td>0.03%</td></tr><tr><td>S&amp;P 500</td><td>-0.06%</td></tr><tr><td>Dow Jones</td><td>-0.07%</td></tr><tr><td>Russell 2000</td><td>-0.33%</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, rose in premarket on Tuesday. SPY was up 0.046% to $584.04, and QQQ advanced 0.23% to $498.20, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From The Last Session



Real estate, consumer staples, health care and utilities were the only sectors that advanced on Monday. The market witnessed the second worst trading day of March ever as information technology, energy, consumer discretionary, and materials led the decline.



On the economic front, February&#8217;s S&amp;P final U.S. manufacturing PMI came in at 52.7 as compared to the preliminary reading of 51.6. This was at a 32-month high signaling an improvement in the health of the manufacturing sector.



The ISM Manufacturing PMI rose to 50.3 in February 2025, indicating a second consecutive month of slight expansion for U.S. manufacturing. In January, private residential construction spending decreased by 0.4%, with notable reductions in both multifamily construction and home improvement expenditures.



<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>-2.64%</td><td>18,350.19</td></tr><tr><td>S&amp;P 500</td><td>-1.76%</td><td>5,849.72</td></tr><tr><td>Dow Jones</td><td>-1.48%</td><td>43,191.24 </td></tr><tr><td>Russell 2000</td><td>-2.81%</td><td>2,102.24</td></tr></tbody></table></figure>



Insights From Analysts



Bearish investor sentiment surged to a near-historic 60.6% in late February, the highest in 30 months, signaling a potential contrarian buying opportunity.



Ryan Detrick of Carson Research noted that historically, stocks average a 28% gain a year after such high bearish readings, although exceptions like 2008 exist. He observed that even at a 55% bearish threshold, returns are generally strong.



Detrick suggests that barring a financial crisis, which he deems unlikely, "investors willing to stay strong and not panic sell" could see significant gains, with the S&amp;P 500 averaging nearly 13% higher in six months and 18% in a year following similar sentiment spikes.



Talking about the effects of Trump's policies on the market, the chairman and CIO of Navellier &amp; Associates, Louis Navellier said, "The volatility is certainly being fed by Trump 2.0 moves, with tariffs scheduled to be launched soon,"



Economist Jeremy Siegel, on the other hand, stated that investors are taking profits on high-flying tech and reconsidering value stocks. However, he added that slowing economic growth could hamper the value stocks as well. "In a weakening economy, all stocks face challenges, though dividend-paying and more defensive equities may benefit from lower interest rates," he added.



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 on Tuesday:



<ul>
<li>New York Fed President John Williams will speak at 2:20 p.m. ET, whereas, Richmond Fed President Tom Barkin will speak at an undetermined time.</li>
</ul>



Stocks In Focus:



<ul>
<li>Crowdstrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) was up 0.34% in the premarket on Tuesday ahead of its earnings, which will be released after the opening bell. Analysts expect it to report earnings of 86 cents per share on revenue of $1,034.3 million.</li>
</ul>



<ul>
<li>Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) advanced 0.39% as Wall Street expects it to report quarterly earnings of $2.25 per share on revenue of $30.85 billion before the opening bell.</li>
</ul>



<ul>
<li>Green Dot Corporation. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDOT#NYSE">GDOT</a>) jumped 15.50% as it surpassed fourth-quarter earnings and revenue expectations and appointed Kim Olson as the new CFO.</li>
</ul>



<ul>
<li>Walgreens Boots Alliance Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>) climbed 6.14% as private equity firm Sycamore Partners could take the company private by Thursday this week, reported WSJ.</li>
</ul>



<ul>
<li>Sacks Parente Golf Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPGC#NASDAQ">SPGC</a>) slumped 37.16% after it announced a 1-for-30 reverse stock split.</li>
</ul>



<ul>
<li>Tenaya Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TNYA#NASDAQ">TNYA</a>) dropped 25.02% as the company announced plans for a public offering of units, including common stock and two warrant series, plus pre-funded units with immediately exercisable warrants.</li>
</ul>



<ul>
<li>Sphere Entertainment Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPHR#NYSE">SPHR</a>) was 0.16% lower as it missed the earnings estimates.</li>
</ul>



<ul>
<li>Biodesix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BDSX#NASDAQ">BDSX</a>) surged 18.65% after reporting a total revenue reaching $71.3 million, up 45% year-on-year.</li>
</ul>



Commodities, Gold And Global Equity Markets:



Crude oil futures were trading lower in the early New York session by 1.11% to hover around $67.61 per barrel.



The gold spot index was up by 0.90% to $2,919.13 per ounce. Its last record high was at $2,956.37 per ounce. The Dollar Index was down 0.46% at the 106.254 level.



Asian markets were lower on Tuesday as India's S&amp;P BSE Sensex, China's CSI 300, South Korea's Kospi, Japan's Nikkei 225, Australia's ASX 200, and Hong Kong's Hang Seng index declined. European markets were also lower in trade.



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Photo courtesy: Shutterstock

Futures

Commodities

Pre-Market Outlook

BDSX

GDOT

SPGC

SPHR

TNYA

US Futures Tumble As Traders Await Trump's Congress Address: 'Volatility Is Certainly Being Fed By Trump 2.0 Moves,' Says Expert

On Tuesday, <a target="_blank" href="https://www.benzinga.com/25/03/44084767/taiwan-semiconductor-weighs-100-billion-us-investment-as-chip-war-heats-up" rel="noreferrer noopener">contract chipmaker</a> Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) announced plans to invest an additional $100 billion in advanced semiconductor manufacturing in the U.S.



Building on the company&#8217;s ongoing $65 billion investment in its advanced semiconductor manufacturing operations in Phoenix, Arizona, Taiwan Semiconductor&#8217;s total investment in the U.S. will likely reach $165 billion. The expansion includes plans for three new fabrication plants, two advanced packaging facilities, and a significant R&amp;D team center.



Also Read: <a target="_blank" href="https://www.benzinga.com/25/03/44087877/intel-stock-surges-as-nvidia-broadcom-test-18a-chips-amd-shows-interest" rel="noreferrer noopener">Intel Gains Traction With 18A Process As Nvidia, Broadcom Consider Manufacturing Contracts</a>



The contract chipmaker expects to create hundreds of billions of dollars in semiconductor value for AI and other cutting-edge applications. The expanded investment will likely support 40,000 construction jobs over the next four years and create tens of thousands of high-paying, high-tech jobs in advanced chip manufacturing and R&amp;D.



It will likely drive over $200 billion of indirect economic output in Arizona and across the U.S. in the next decade, the company said.



Taiwan Semiconductor&#8217;s Arizona fab currently employs more than 3,000 people on 1,100 acres of land in Arizona. The site has been in volume production since late 2024.



U.S. President Donald Trump has been a <a target="_blank" href="https://www.benzinga.com/government/regulations/25/02/44013241/taiwan-semiconductor-faces-government-scrutiny-on-overseas-ventures-amid-intel-stake-rumors" rel="noreferrer noopener">critic of Taiwan</a> since his presidential campaign days for accusing them of allegedly stealing American semiconductor business. He promised action against the country and threatened retaliatory tariffs because of Taiwan&#8217;s large trade surplus with the U.S.



IDC expects the <a target="_blank" href="https://www.benzinga.com/24/12/42480928/taiwan-semi-set-to-command-67-foundry-market-share-idc" rel="noreferrer noopener">Taiwanese contract chipmaker</a> to command a 67% share of the global foundry market in 2025, up 300 bps year over year.



Separate reports indicated the U.S. government canvassing Taiwan Semiconductor to help bail out Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) out of its woes <a target="_blank" href="https://www.benzinga.com/government/regulations/25/02/44013241/taiwan-semiconductor-faces-government-scrutiny-on-overseas-ventures-amid-intel-stake-rumors" rel="noreferrer noopener">via strategic acquisition</a>.



Meanwhile, Big Tech giants remain&nbsp;aggressively invested in&nbsp;their AI ambitions.&nbsp;Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), a key Taiwan Semiconductor client, committed over $500 billion to AI and advanced manufacturing.



Price Action:&nbsp;TSM stock traded higher by 1.48% to $175.53 premarket at the last check on Tuesday.



Also Read:



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<li><a href="https://www.benzinga.com/25/03/44088403/amazon-web-services-bets-big-on-india-with-82-billion-cloud-investment" target="_blank" rel="noreferrer noopener">Amazon Web Services Bets Big On India with $8.2 Billion Cloud Investment</a></li>
</ul>



Photo by wakamatsu.h via Shutterstock

INTC

Taiwan Semiconductor Doubles Down On US Chipmaking, Plans $165 Billion Investment

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