U.S. stock futures fell on Friday after two consecutive days of decline on Wednesday and Thursday. Futures of major benchmark indices were lower in premarket trading.



Stocks slid as investors digested the new auto tariffs levied on foreign cars and auto parts.



President Donald Trump also warned that he would impose much higher tariffs on the EU and Canada if they retaliate against his planned tariffs.



In a Truth Social post, he threatened large-scale tariffs to counter any economic harm from the two allies. While he has recently hinted at targeting them in his upcoming "Liberation Day" tariffs, no direct actions have been taken yet.



Traders will watch out for the Federal Reserve&#8217;s preferred measure of inflation, the Personal Consumption Expenditures Price Index, specifically the core PCE, which excludes food and energy prices due to their volatility.



With the 10-year Treasury yield at 4.32% and the 2-year at 3.99%, the CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a> shows markets pricing in an 88.4% likelihood of the Federal Reserve maintaining current interest rates through its May 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>-0.40%</td></tr><tr><td>S&amp;P 500</td><td>-0.22%</td></tr><tr><td>Dow Jones</td><td>-0.15%</td></tr><tr><td>Russell 2000</td><td>0.12%</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, dropped in premarket on Friday. The SPY was down 0.19% to $565.98, while the QQQ declined 0.36% to $479.89, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



Most sectors on the S&amp;P 500 ended in the red on Thursday, with energy, communication services, and information technology stocks leading the losses. However, health care and consumer staples stocks managed to buck the trend, closing higher.



European automakers were hit hard, with Mercedes-Benz Group AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MBGAF#OTC">MBGAF</a>) sliding 1.7% and Porsche Automobil Holding SE (OTC:<a class="ticker" href="https://www.benzinga.com/stock/POAHF#OTC">POAHF</a>) dropping 2.3%.



In earnings news, shares of TD Synnex Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNX#NYSE">SNX</a>) tumbled around 14% after the company reported its first-quarter results. Verint Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRNT#NASDAQ">VRNT</a>) also fell sharply, dropping more than 13% following worse-than-expected fourth-quarter earnings and weaker-than-expected FY26 EPS guidance.



On the economic front, U.S. initial jobless claims dipped by 1,000 to 224,000 for the week ending March 22, slightly below market estimates of 225,000. Meanwhile, fourth-quarter GDP growth was revised up to an annualized 2.4% from 2.3%, and U.S. wholesale inventories increased by 0.3% in February, following a 0.8% gain in January.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>-0.53%</td><td>17,804.03</td></tr><tr><td>S&amp;P 500</td><td>-0.33%</td><td>5,693.31</td></tr><tr><td>Dow Jones</td><td>-0.37%</td><td>42,299.70</td></tr><tr><td>Russell 2000</td><td>-0.39%</td><td>2,065.70</td></tr></tbody></table></figure>



Insights From Analysts:



According to the analysts at BlackRock, the weight of non-U.S. equities in global equity indexes has been on the rise since the end of January. This is caused by the policy uncertainty, which has shaken the investor belief in the U.S. growth and equity strength, pulling the S&amp;P 500 down more than 3%, the note added.



&#8220;The selloff has been exacerbated by investors rapidly pulling out of popular trades – like the tech-heavy momentum equity style factor and cyclical trades that were betting on a boost from growth from potential U.S. deregulation and tax cuts.&#8221;



&#8220;We stay overweight U.S. stocks on a six- to 12-month tactical horizon. Yet prolonged uncertainty could hurt both U.S. and global risk assets,&#8221; the note adds.



Meanwhile, as the uncertainty around tariffs mounts, Michael Townsend, managing director of legislative and regulatory affairs with Schwab, said that &#8220;The White House has been sending mixed signals.&#8221;



&#8220;First, saying that they would be imposed on all countries, then more recently saying they will initially focus on 10 to 15 countries with which the U.S. has big trade deficits. The plan also was to announce tariffs on automobiles, pharmaceuticals, and semiconductors next week, but those reportedly will be delayed. The uncertainty is driving companies and investors crazy.&#8221;



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 Friday:



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



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



Stocks In Focus:



<ul>
<li>Super League Enterprise Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLE#NASDAQ">SLE</a>) jumped 7.32% in premarket on Friday ahead of its earnings before the opening bell. Analysts expect a quarterly loss of 26 cents per share on the revenue of $5.50 million.</li>
</ul>



<ul>
<li>Katapult Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KPLT#NASDAQ">KPLT</a>) was down 2.16% as Wall Street expects it to report a quarterly loss of $1.77 per share on revenue of $62.20 million before the opening bell.</li>
</ul>



<ul>
<li>Lululemon Athletica Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) slumped 10.84% as it sees full-year 2025 earnings in the range of $14.95 to $15.15 per share, versus estimates of $15.30 per share.</li>
</ul>



<ul>
<li>Braze Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRZE#NASDAQ">BRZE</a>) surged 10.63% after it reported better-than-expected fourth-quarter financial results and issued strong FY26 adjusted EPS guidance.</li>
</ul>



<ul>
<li>AAR Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIR#NYSE">AIR</a>) was up 2.41% after posting upbeat earnings for the third quarter, while sales missed estimates.</li>
</ul>



<ul>
<li>Direct Digital Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRCT#NASDAQ">DRCT</a>) plunged 38.35% after it reported a substantial earnings miss in the fourth quarter, with earnings per share of -$0.54, sharply below the forecasted $0.11.</li>
</ul>



<ul>
<li>XTI Aerospace Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XTIA#NASDAQ">XTIA</a>) dropped 31.30% after announcing a public offering of common stock and warrants; the offering&#8217;s size and valuation remain undisclosed. Proceeds will repay debt and fund operations. This move follows a recent $5 million share buyback.</li>
</ul>



<ul>
<li>Dermata Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRMA#NASDAQ">DRMA</a>) plummeted 21.13% as it announced an agreement for the exercise of 4,834,470 outstanding warrants at a reduced price of $1.284 per share.</li>
</ul>



<ul>
<li>Sensei Biotherapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNSE#NASDAQ">SNSE</a>) climbed 26.60% after reporting encouraging Phase 1/2 trial results for solnerstotug, showing a 14% overall response rate in resistant tumors, significantly exceeding historical rechallenge rates.</li>
</ul>



<ul>
<li>DBV Technologies SA ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DBVT#NASDAQ">DBVT</a>) surged 59.85% after securing up to $306.9 million in financing for its Viaskin peanut patch program, including $125.5 million upfront and potentially $181.4 million from warrant exercises.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading lower in the early New York session by 0.06% to hover around $69.88 per barrel.



Gold Spot US Dollar advanced 0.47% to hover around $3,071.22 per ounce. Its fresh record high stood at $3,086.08 per ounce.



Asian markets closed on a lower note on Friday. China&#8217;s CSI 300, India's S&amp;P BSE Sensex, Hong Kong's Hang Seng, South Korea's Kospi, and Japan's Nikkei 225 index declined, whereas Australia's ASX 200 index rose. European markets were also lower in early trade.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/25/03/44528015/trump-reacts-to-selloff-following-auto-tariffs-that-can-take-care-of-itself-in-one-day-two-days-or-o">Trump Reacts To Selloff Following Auto Tariffs: &#8216;That Can Take Care Of Itself In One Day, Two Days, Or One Week&#8217;</a></li>
</ul>



Photo courtesy: Shutterstock

Equities

Government

Market Summary

News

Futures

Treasuries

Economics

Federal Reserve

Pre-Market Outlook

Markets

Analyst Ratings

Trading Ideas

ETFs

BRZE

DBVT

DRCT

DRMA

KPLT

LULU

MBGAF

POAHF

SNSE

VRNT

XTIA

US Stocks Likely To Open Lower, Analysts Warn 'Prolonged Uncertainty Could Hurt Both US And Global Risk Assets'

Russian President Vladimir Putin confirmed U.S. President Donald Trump&#8216;s intentions to annex Greenland and spoke about the Kremlin&#8217;s stance on the matter.



What Happened: Putin expressed his concerns at an Arctic forum held in Murmansk. He emphasized that the U.S. plans for Greenland are not just mere rhetoric but are deeply &#8216;serious&#8217;, <a href="https://www.scmp.com/news/world/russia-central-asia/article/3304179/trump-plan-take-over-greenland-serious-putin-says">reported</a> the South China Morning Post.



Though his remarks did not appear to criticize Trump&#8217;s intentions, Putin voiced his fears that the Arctic could be used by the West as a launchpad for future conflicts. Despite Russia not being directly involved in Greenland&#8217;s ownership issue, Putin cautioned about NATO countries identifying the far north as a possible conflict zone.



"It is a deep mistake to think that this is some extravagant talk from the new American administration. It is nothing of the sort," confirmed the Russian President. &#8220;These plans have long-standing historical roots,&#8221; added Putin. 



Despite Trump&#8217;s persistent requests, Denmark has declined to relinquish control of the island, asserting that&nbsp;the people of Greenland have&nbsp;no desire to join the United States.



Meanwhile, Trump showed no signs of easing his stance towards Greenland. &nbsp;He told reporters on Thursday that the U.S. will &#8220;go as far as we have to go&#8221; to get control of Greenland. &nbsp;&#8220;&#8230;if we don&#8217;t have Greenland, we can&#8217;t have great international security,&#8221; the U.S. President reiterated. 



SEE ALSO: <a href="https://www.benzinga.com/25/03/44530226/robinhood-launches-ai-investment-tool-cortex-to-expand-market-analysis-access-a-premium-research-assistant-right-in-your-pocket">Robinhood Says Its &#8216;Cortex&#8217; AI Investment Tool Will &#8216;Bridge The Gap&#8217; Between Institutional And Retail Investors: Here Is What It Can And Can&#8217;t Do</a>



Why It Matters: The Arctic, rich in fossil fuels and minerals, is also an area of military competition. Defense analysts have noted Russia&#8217;s rapid buildup in the region, reopening Soviet-era bases and modernizing its navy in the region. The U.S. views the Arctic as crucial for national security, including its early warning system against nuclear attacks.



Notably, Putin aims to boost trade via the Northern Sea Route as Russia pivots to Asia instead of Europe due to Western sanctions. He stated that Russia has never threatened anyone in the Arctic but is ready to defend its interests.



Greenland, which is striving for independence from Denmark, is strategically positioned&nbsp;between North America and Europe. The island already hosts a US military base, and&nbsp;U.S. Vice-President J.D. Vance is&nbsp;slated to visit on Friday. 



U.S. Second Lady Usha Vance <a href="https://www.benzinga.com/news/global/25/03/44530882/usha-vance-faces-cold-reception-in-greenland-as-locals-say-no-thank-you-after-jd-vance-steps-in">faced a cold </a>reception in Greenland. The locals in Nuuk, Greenland&#8217;s capital, declined to welcome her ahead of her planned visit. This incident further highlights the tension surrounding the U.S.&#8217;s interest in Greenland. The longer visit was ultimately scaled back and Usha Vance and Energy Secretary Chris Wright will head the U.S. delegation visiting the Pituffik military space base in the island&#8217;s northwest.



<ul>
<li>READ MORE: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44531398/peter-schiff-slams-gamestops-bitcoin-strategy-as-shares-plummet-now-that-all-the-fools-have-already-rushed-in-smarter-investors-are-selling">Peter Schiff Slams Gamestop&#8217;s Bitcoin Strategy As Shares Plummet: &#8216;Now That All The Fools Have Already Rushed In, Smarter Investors Are Selling&#8217;</a></li>
</ul>

Politics

Russian President Alarms About Trump's 'Serious' Plans To Annex Greenland: 'These Plans Have Long-Standing Historical Roots'

Paul Atkins, former&nbsp;U.S. Securities and Exchange Commission&nbsp;(SEC) member and President Donald Trump&#8216;s nominee to head the agency, has pledged a new approach towards crypto regulation.



What Happened: Atkins&#8217; stance on crypto regulation marks a departure from his predecessor, Gary Gensler, who saw much of the crypto sector as potentially violating registration requirements. Atkins, on the other hand, stated, &#8220;A top priority of my chairmanship will be to work with my fellow commissioners and Congress to provide a firm regulatory foundation for digital assets through a rational, coherent, and principled approach,&#8221; Atkins said in&nbsp;his testimony&nbsp;for Thursday.



Atkins positioned himself as an experienced regulator and private-sector executive. He also stated that he would step down and relinquish his stake in Potomac Global Partners, the consulting firm he founded, if his nomination is approved.



Sen. Tim Scott (R-SC), who chairs the committee, stated that Atkins will &#8220;offer much-needed clarity for digital assets.&#8221;



The next step in the confirmation process is for the committee to vote on the nominees and submit them for possible approval by the full Senate.



SEE ALSO: <a href="https://www.benzinga.com/25/03/44530904/waymos-robotaxis-rack-up-600-parking-tickets-65000-in-fines-in-just-san-francisco-in-2024">Waymo&#8217;s Robotaxis Rack Up 600 Parking Tickets, $65,000 In Fines In Just San Francisco In 2024</a>



Why It Matters: Atkins&#8217; nomination and his proposed approach to crypto regulation come at a crucial time. For the crypto industry, Atkins&#8217; responses on cryptocurrency issues may be more pressing. Earlier this month, a report stated that the SEC is <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44287639/trump-appointed-sec-chair-could-fast-track-crypto-etf-approvals-xrp-solana-dogecoin-etfs-coming-by-june">unlikely to approve</a> or reject crypto ETFs until its new leadership is in place. This suggests that Atkins&#8217; confirmation could potentially fast-track crypto ETF approvals.



However, his ties to the crypto industry have raised concerns.&nbsp;Sen. Elizabeth Warren (D-Mass.) <a href="https://www.benzinga.com/25/03/44468393/elizabeth-warren-questions-trumps-sec-pick-paul-atkins-on-ftx-ties-conflict-of-interest-over-trump-memecoin">questioned Atkins</a> about his connections to the failed cryptocurrency exchange FTX, which she believes could pose conflicts of interest if he is confirmed as SEC Chair.



The outcome of Atkins&#8217; confirmation and his approach to crypto regulation could significantly impact the future of the crypto industry.



READ MORE: <a href="https://www.benzinga.com/news/25/03/44527681/over-7-million-vehicles-could-face-the-brunt-of-trumps-auto-tariffs-this-could-drive-the-auto-indust">Over 7 Million Vehicles Could Face The Brunt Of Trump&#8217;s Auto Tariffs: &#8216;This Could Drive&#8230;The Auto industry Into Recession&#8217;</a>

Trump's SEC Pick Paul Atkins Says His 'Top Priority' Will Be 'Rational' Crypto Regulations, Marking Shift From Gary Gensler's Approach

Leading cryptocurrencies dipped on Wednesday as investors weighed the market uncertainties of President Donald Trump's tariff-related announcements.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:45 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>-0.02%</td><td>$87,151.49</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-0.89%</td><td>$1,996.20</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-3.29%</td><td>$0.1893</td></tr></tbody></table></figure>



What Happened: Bitcoin wobbled between the highs of $86,000 and $87,000 throughout the day as trading volume fell by more than 10% in the last 24 hours.



The apex cryptocurrency was up 3.30% over the week but slid nearly 6.70% over the quarter, its worst since the COVID-19 outbreak during 2020.



Industry observers acknowledged that Bitcoin has <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44521011/will-trumps-25-auto-tariffs-take-a-toll-on-bitcoin">reacted more to macroeconomic triggers</a> recently and that uncertainty has caused short-term ripples.



Ethereum too stagnated, bouncing in the range just south of $2,000. The second-largest cryptocurrency experienced an even worse first quarter, falling 39% as of this writing.



Long liquidations hit over $113 million in the last 24 hours, significantly higher than bearish shorts.



Bitcoin's Open Interest rose marginally by 0.10% in the last 24 hours, while funds locked in Ethereum's futures dipped 1.44%.&nbsp;



The percentage of Bitcoin futures traders positioned bearish on the cryptocurrency exceeded those betting on its price increase, suggesting further downsides could be possible.



The market remained gripped by "Fear" sentiment, according to the Crypto Fear and Greed Index.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:45 p.m. ET)</td></tr><tr><td>Berachain (BERA)</td><td>+12.25%</td><td>$8.71</td></tr><tr><td>Toncoin (TON)</td><td>+8.19%</td><td>$4.01</td></tr><tr><td>Cronos (CRO)</td><td>+6.18%</td><td>$0.1073</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $2.84 trillion, following a drop of 0.24% in the last 24 hours.



Stocks sank further on Thursday. The Dow Jones Industrial Average fell 155.09 points, or 0.37%, to close at 42,299.70. The S&amp;P 500 slid 0.33%, ending at 5,693.31, while the tech-focused Nasdaq Composite dipped 0.53% to close at 17,804.03.



Investors likely reacted to Trump&#8217;s<a href="https://in.benzinga.com/25/03/44506345/trump-imposes-25-tariffs-on-auto-imports-says-this-will-continue-to-spur-growth-canada-eu-slam-the-move"> new 25% tariffs targeting foreign automakers</a>.



Shares of domestic automakers like General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) plunged 7.36% and 3.88%, respectively, during the session.



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



Analyst Notes: Well-known blockchain analytics firm CryptoQuant noticed that short-term holders who bought Bitcoin within the last week were profitable.



"The 1w-1m cohort&#8217;s realized price is around $84,740, meaning if BTC dips towards this level, it could act as support," CryptoQuant added.



The firm stated that if BTC stays above this level, it will signal "strength in demand." Conversely, a move below could indicate a potential reversal.



<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">Liquidation event of $359.7M in long positions "If BTC holds above the short-term realized price, it suggests strength in demand. A breakdown below these levels might indicate a potential reversal or correction." – By Amr Taha Full post &#x2935;&#xFE0F;<a href="https://t.co/SW9e16kofW">https://t.co/SW9e16kofW</a> <a href="https://t.co/0YR9rfreGa">pic.twitter.com/0YR9rfreGa</a>&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1905242620869402844?ref_src=twsrc%5Etfw">March 27, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Widely followed cryptocurrency trader Daan Crypto Trades stated that Bitcoin's price would continue to be "heavily" influenced by headlines, given that Trump's tariff "Liberation Day" was approaching.&nbsp;



"Would not be surprised to hang around the mid-$80,000s for a while until that blows over," the trader predicted.



"Now that reserves have plateaued, it looks like investors are sitting on the sidelines," Martinez remarked.



<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"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> This range breakdown &amp; sweep might be a bit slower, but it&#39;s also on the back of the sharpest equities sell off since the Yen Carry Trade issues, which coincidentally also marked that last range sweep in August 2024. I think there was a lot of reason and opportunity to dump… <a href="https://t.co/uKAoGP7aDc">https://t.co/uKAoGP7aDc</a> <a href="https://t.co/Qr6fjSJIwZ">pic.twitter.com/Qr6fjSJIwZ</a>&mdash; Daan Crypto Trades (@DaanCrypto) <a href="https://twitter.com/DaanCrypto/status/1905364454499651632?ref_src=twsrc%5Etfw">March 27, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo by SvetlanaParnikova on Shutterstock



Read Next:    



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44521724/bitcoin-investors-love-the-possibility-of-us-government-investing-in-crypto-for-trump-lots">Bitcoin Investors Love The Possibility of US Government Investing In Crypto. For Trump, Lots of Talk, But No Action Yet</a></li>
</ul>

Cryptocurrency

Movers

$BTC

$DOGE

$ETH

Bitcoin, Ethereum Flat, Dogecoin Drops Amid Trump Tariffs-Fueled Uncertainty: Analyst Firm Foresees 'Strength In Demand' If BTC Stays Above This Level

On Thursday, OpenAI CEO Sam Altman touted the latest version of GPT-4o's improved "freedom." However, digital rights advocates have previously argued that the real threat isn't political bias but growing AI-driven censorship.



What Happened: Altman took to X, formerly Twitter, and said that the new version of GPT-4o is "particularly good at coding, instruction following, and freedom."



<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">new version of GPT-4o particularly good at coding, instruction following, and freedom.&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1905419197120680193?ref_src=twsrc%5Etfw">March 28, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Earlier this week, OpenAI upgraded GPT-4o, which debuted about a year ago, by introducing advanced image-generation capabilities. Along with this new capability, the AI startup also outlined its updated safety measures and policies for GPT-4o.



See Also: <a href="https://www.benzinga.com/news/25/03/44526379/tesla-and-other-us-robotics-giants-demand-federal-strategy-to-compete-with-chinas-138-billion-push-w">Tesla And Other US Robotics Giants Demand Federal Strategy To Compete With China&#8217;s $138 Billion Push — Warn America Will Lose The Race Without It</a>



&#8220;In line with our Model Spec, we aim to maximize creative freedom by supporting valuable use cases like game development, historical exploration, and education—while maintaining strong safety standards,&#8221; the company stated, &#8220;At the same time, it remains as important as ever to block requests that violate those standards.&#8221;



Why It's Important: Altman's statement came at a time when the debate around AI's political leanings and bias mitigation strategies continues to swirl, particularly following missteps by Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google Gemini and Adobe Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) Firefly, which <a href="https://www.benzinga.com/news/24/03/37763969/elon-musk-says-woke-ai-like-google-gemini-can-be-deadly-it-will-do-whatever-it-can-potentially-even">drew backlash last year</a> over "woke" image outputs.



However, some experts say the bigger issue isn't about whether AI is biased—it's about whether AI is suppressing speech altogether.



A 2023 report from Freedom House, titled "The Repressive Power of Artificial Intelligence," warned that AI is enabling governments and companies to scale censorship, surveillance, and disinformation faster and more cheaply than ever.



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.



A 2024 report by The Conversation said, "We found that the use policies of major chatbots don't meet United Nations free speech standards," adding, "These vague and expansive rules give companies too much discretion to silence controversial or politically sensitive topics."



For instance, Google's Gemini bans content that "promotes or encourages hatred," a guideline critics say is overly broad and potentially suppressive.



As generative AI tools like ChatGPT, Gemini, and Anthropic's Claude gain widespread influence, their usage policies shape public discourse.



Without transparent safeguards that align with global human rights norms, free speech advocates warn that AI companies risk enabling digital repression—even while claiming to promote "freedom."



Photo by jamesonwu1972 on Shutterstock



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:



<ul>
<li><a href="https://www.benzinga.com/news/25/03/44521302/steve-jobs-warned-34-years-ago-about-america-being-hollowed-out-by-foreign-manufacturing-a-concern-t">Steve Jobs Warned 34 Years Ago About America Being &#8216;Hollowed Out&#8217; By Foreign Manufacturing — A Concern Trump Now Echoes</a></li>
</ul>



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

Tech

ADBE

GOOG

GOOGL

Sam Altman Hypes GPT-4o's 'Freedom' — But Critics Point Out AI's Real Problem Is Censorship, Not Bias

The CNN Money Fear and Greed index showed almost no change in the overall market sentiment, while the index remained in the &#8220;Fear&#8221; zone on Thursday.



U.S. stocks settled lower on Thursday, with the Dow Jones index falling more than 150 points during the session as investors assessed recent tariff-related news.



Late Wednesday, Trump announced a 25% tariff on all auto imports starting next week, with duties on auto parts set to follow in May.



European automakers took a hit, with Mercedes-Benz Group AG (OTCPK: MBGAF) and Porsche Automobile Holding SE (OTCPK: POAHF) sliding 1.7% and 2.3%, respectively.



Shares of TD SYNNEX Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNX#NYSE">SNX</a>) dipped around 14% on Thursday after the company reported its first-quarter results. Shares of Verint Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRNT#NASDAQ">VRNT</a>) fell more than 13% after the company reported worse-than-expected fourth-quarter financial results and issued FY26 EPS guidance with its midpoint below estimates.



On the economic data front, U.S. initial jobless claims fell by 1,000 to 224,000 in the week ending March 22, compared to market estimates of 225,000. The U.S. economy grew by an annualized rate of 2.4% in the fourth quarter, up from 2.3% in the prior estimates. U.S. wholesale inventories increased by 0.3% month-over-month to $903 billion in February compared to a 0.8% gain in the prior month.



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



The Dow Jones closed lower by around 155 points to 42,299.70 on Thursday. The S&amp;P 500 fell 0.33% to 5,693.31, while the Nasdaq Composite tumbled 0.53% to close at 17,804.03 during Thursday's session.



Investors are awaiting earnings results from Super League Enterprise, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLE#NASDAQ">SLE</a>) and Katapult Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KPLT#NASDAQ">KPLT</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 27.9, the index remained in the &#8220;Fear&#8221; zone on Thursday, versus a prior reading of 27.8.



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/25/03/44513063/jim-cramer-stryker-is-a-good-company-likes-this-utilities-stock">Jim Cramer: Stryker Is A &#8216;Good&#8217; Company, Says He Likes This Utilities Stock</a></li>
</ul>



Photo courtesy: Shutterstock

Earnings

Dow Dips 150 Points Following Trump's Auto Tariffs, Verint Systems Slides On Q4 Miss: Greed Index Remains In 'Fear' Zone

Lululemon Athletica Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) reported financial results for the fourth quarter aftermarket close on Thursday. Here&#8217;s a rundown of the <a href="https://www.benzinga.com/pressreleases/25/03/b44523704/lululemon-athletica-inc-announces-fourth-quarter-and-full-year-fiscal-2024-results">athletic apparel company&#8217;s report</a>.



Q4 Earnings: Lululemon reported fourth-quarter revenue of $3.61 billion, beating the&nbsp;<a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">consensus estimate</a>&nbsp;of $3.57 billion. The company reported fourth-quarter earnings of $6.14 per share, beating analyst estimates of $5.85 per share, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.



Total revenue was up 13% on a year-over-year basis as Americas net revenue increased 7% and international revenue climbed 38%. Total comparable sales increased 3% year-over-year.



Lululemon's total store count was 767 at quarter's end after opening 18 net new company-operated stores during the quarter. Inventories were up 9% year-over-year to $1.4 billion. 



The company ended the quarter with approximately $2 billion in cash and cash equivalents.



&#8220;Our&nbsp;fourth quarter&nbsp;results exceeded our expectations as we continued to introduce more newness and innovation into our product assortment,&#8221; said&nbsp;Calvin McDonald, CEO of Lululemon.



&#8220;As we begin 2025, we remain focused on executing on our Power of Three ×2 growth plan and delivering an exciting pipeline of innovation and brand activations for our guests and communities.&#8221;



Lululemon&#8217;s &#8220;Power of Three ×2 growth plan&#8221; calls for a doubling of the business from 2021 net revenue of&nbsp;$6.25 billion&nbsp;to&nbsp;$12.5 billion&nbsp;by 2026.



See Also: <a href="https://www.benzinga.com/25/03/44520779/stocks-slip-gold-rallies-auto-tariffs-benefit-tesla-rivian-punish-gm-ford-whats-driving-markets-thursday">Stocks Slide As Auto Tariffs Boost Tesla, Rivian And Hit GM, Ford: What&#8217;s Driving Markets Thursday?</a>



Outlook: Lululemon expects first-quarter revenue of $2.335 billion to $2.355 billion versus estimates of $2.39 billion. The company anticipates first-quarter earnings of $2.53 to $2.58 per share versus estimates of $2.74 per share.



Lululemon expects full-year 2025 revenue to be in the range of $11.15 billion to $11.3 billion versus estimates of $11.301 billion. The company sees full-year earnings in the range of $14.95 to $15.15 per share versus estimates of $15.30 per share. 



The company&#8217;s soft guidance appears to be weighing on shares after hours. Lululemon executives will further discuss the quarter on a call with investors and analysts at 4:30 p.m. ET.



LULU Price Action: <a href="http://benzinga.com/quote/lulu">Lululemon shares</a> were down about 10.5% year-to-date heading into the report. The stock was down 6.07% after-hours, trading at $320.80 at the time of publication Thursday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/trading-ideas/technicals/25/03/44513787/nike-stock-hits-52-week-lows-is-the-sneaker-king-losing-its-step">Nike Stock Hits 52-Week Lows – Is The Sneaker King Losing Its Step?</a></li>
</ul>



Photo: Shutterstock.

Guidance

After-Hours Center

Lululemon Q4 Earnings: Revenue, EPS Beat, Shares Slide On Soft Guidance

The artificial intelligence boom is now colliding with America's aging energy infrastructure, but natural gas may be the unexpected wildcard that keeps the AI revolution <a href="https://www.benzinga.com/topic/artificial-intelligence">from overheating—literally.</a>



OpenAI CEO Sam Altman issued a blunt warning Thursday on social media X: "Our GPUs are melting." The comment came as OpenAI imposed temporary usage limits amid surging demand for image generation in ChatGPT. 



As tools like ChatGPT become integral to business operations, the data centers powering them are drawing electricity at unprecedented rates. Now, the race is on to secure reliable electricity supplies.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">it&#39;s super fun seeing people love images in chatgpt. but our GPUs are melting. we are going to temporarily introduce some rate limits while we work on making it more efficient. hopefully won&#39;t be long! chatgpt free tier will get 3 generations per day soon.&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1905296867145154688?ref_src=twsrc%5Etfw">March 27, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h3 class="wp-block-heading">AI Sends US Electricity Demand Soaring: Could Natural Gas Step In To Fill The Gap?</h3>



Surging AI adoption is poised to add unprecedented pressure to the U.S. power grid, with data centers emerging as the primary energy guzzlers, according to a report released this week by Natural Gas Intelligence titled &#8216;AI Rising: How Will Natural Gas Markets Evolve to Fuel the Demand Surge?&#8217;



The International Energy Agency projects that electricity demand in the United States through 2027 will rise by an amount equivalent to California's entire current power usage. That's a surge of roughly 400 terawatt-hours (TWh) in just three years.



Wood Mackenzie estimates total U.S. electricity consumption will soar from 4,000 TWh in 2024 to 6,000 TWh by 2050. Of that, between 395 and 660 TWh could be consumed by data centers alone by 2035—more than 10% of total power usage.



The fast pace of AI deployment is leaving little room for slow build-outs of renewable energy or long-term infrastructure upgrades. That's where natural gas steps in.



"Gas will certainly get its share of the new AI-driven power demand given its reliability, which is a must for these facilities," said Patrick Rau, senior vice president of strategy and research at Natural Gas Intelligence, according to the report.



Natural gas provides firm and flexible power, a critical advantage for hyperscale data centers that operate 24/7. Rau said the key bottleneck is how quickly new gas-fired capacity can come online.



<h3 class="wp-block-heading">Utilities And Oil Giants Jump In</h3>



Power producers are already rushing to meet the call. NRG Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>) is fast-tracking 1.5 gigawatts (GW) of gas-fired projects in Texas. CEO Larry Coben said the company has signed multiple letters of intent with data center developers and is advancing 10 natural gas plants totaling about 8 GW in generation capacity.



In February, NRG also partnered with GE Vernova Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>) and construction firm Kiewit Corp. to develop up to 5.4 GW of new capacity explicitly linked to AI data centers.



Other utilities are following suit. American Electric Power Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEP#NASDAQ">AEP</a>) is weighing $10 billion in potential investments to meet what it calls "incremental load," largely driven by AI, manufacturing reshoring and general economic development. The company already has customer commitments for 20 GW of additional load by 2030 across its 11-state footprint.



Oil giant Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) is another unexpected entrant in the AI race. In partnership with investor Engine No. 1 and GE Vernova, the energy giant plans to build co-located power plants across the Midwest, Southeast and West to support data centers with dedicated energy generation.



<h3 class="wp-block-heading">Will DeepSeek Reduce AI Data Centers Demand?</h3>



Chinese AI company DeepSeek has introduced a platform that claims to rival current models in performance—at a fraction of the power cost. That innovation, while promising, may add another twist to the AI power narrative.



"DeepSeek's improved computational efficiency may provide a pathway to quell hyperscalers' power requirement," according to a recent report by Rystad Energy experts.



"But it could also escalate the AI arms race and compel companies toward more power-intensive innovation."



For now, the message from the grid is clear: keep the pipelines flowing and the turbines spinning at full throttle.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/03/44503568/sp-says-us-growth-to-slow-in-2025-but-recession-not-most-likely-outcome-yet">S&amp;P Says US Growth To Slow In 2025, But Recession Not &#8216;Most Likely Outcome Yet&#8217;</a></li>
</ul>



Image created using artificial intelligence via Midjourney.

Analyst Color

Large Cap

Macro Economic Events

Commodities

Econ #s

'Our GPUs Are Melting,' OpenAI's Altman Warns — Could US Natural Gas Power AI Revolution?

The newly imposed <a href="https://www.benzinga.com/government/regulations/25/03/44517885/trump-slaps-25-tariffs-on-autos-what-it-means-for-your-next-car-purchase">25% auto tariff</a> threatens to disrupt the global automotive industry, with analysts warning of sharp price increases and declining sales.



Goldman Sachs <a href="https://www.benzinga.com/25/03/44515578/trumps-25-tariff-set-to-hike-imported-car-prices-up-to-15000-higher-goldman-sachs-warns">estimates that imported </a>vehicle prices could rise by $5,000 to $15,000, while even U.S.-built cars could see cost hikes of $3,000 to $8,000 due to foreign-made parts. Here&#8217;s what analysts have predicted so far:



<ul>
<li>According to JPMorgan's Akira Kishimoto, Japanese automakers could face a potential hit of 4.46 trillion yen (about $29.44 billion), with Nissan Motor Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NSANY#OTC">NSANY</a>), Mazda Motor Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MZDAY#OTC">MZDAY</a>) and Subaru (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FUJHY#OTC">FUJHY</a>) among the most vulnerable due to their reliance on imported vehicles. Toyota Motor Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) remains JPMorgan's top pick, given its resilience and strong fundamentals, while Suzuki Motor (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SZKMY#OTC">SZKMY</a>) and Isuzu Motors (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ISUZY#OTC">ISUZY</a>) are also favored among mid-tier manufacturers. Read Also: <a href="https://www.benzinga.com/25/03/44515578/trumps-25-tariff-set-to-hike-imported-car-prices-up-to-15000-higher-goldman-sachs-warns">Trump&#8217;s 25% Tariff Set To Hike Imported Car Prices Up To $15,000 Higher, Goldman Sachs Warns</a> </li>



<li>RBC Capital Markets&#8217; Tom Narayan warns that German automakers like Mercedes-Benz Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MBGYY#OTC">MBGYY</a>) and BMW Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWKY#OTC">BMWKY</a>) are at high risk, though potential retaliatory tariffs from Europe could deter further escalation. Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) may benefit due to its U.S.-based production, while Ferrari NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RACE#NYSE">RACE</a>) is expected to pass costs onto its high-end buyers. </li>



<li>JPMorgan autos analyst Ryan Brinkman has slashed price targets for major U.S. automakers, cutting General Motors Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) by 17% to $53 from $64, Ford Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) by 15% to $11 from $13, and Ferrari by 12% to $460 from $525, citing heightened earnings risk. </li>
</ul>



With uncertainty around auto demand and the potential for sales fluctuations, investors remain cautious as the industry assesses the economic impact of these sweeping tariffs.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/forex/25/03/44518720/april-2-tariffs-could-trigger-a-us-dollar-rally-to-sell-bank-of-america-economists-say" target="_blank" rel="noreferrer noopener">April 2 Tariffs Could Trigger A US Dollar ‘Rally To Sell,' Bank Of America Economists Say</a></li>
</ul>



Photo: Shutterstock

BMWKY

FUJHY

ISUZY

MBGYY

MZDAY

NSANY

RACE

SZKMY

TSLA

Japanese Automakers Face $29 Billion Tariff Hit, Nissan, Mazda, Subaru Most At Risk, Says Analyst

The U.S. economy is heading towards a historic surge in public debt, one that's set to eclipse wartime records and cast a long shadow over future economic <a href="https://www.benzinga.com/topic/expert-ideas">growth and policy freedom.</a>



In a report released Thursday, the Congressional Budget Office unveiled its latest <a href="https://www.cbo.gov/system/files/2025-03/61187-Long-Term-Outlook-2025.pdf">long-term budget outlook</a>. It forecasts U.S. fiscal and economic trends over the next 30 years.



The message was stark: the country's debt load, driven by ballooning deficits and rising interest costs, will break historical records, hinder economic growth, and amplify financial stability risks.



See Also: <a href="https://www.benzinga.com/analyst-ratings/price-target/25/03/44519930/tesla-turmoil-analyst-pins-hope-new-era-robotics-fsd">Tesla In Turmoil: Analyst Pins Hope On &#8216;New Era&#8217; Robotics, Self-Driving</a>



<h3 class="wp-block-heading">US Public Debt On Track To Reach 156% Of GDP By 2055</h3>



Federal debt held by the public, as a share of gross domestic product (GDP), is projected to reach 107% by 2029. This would eclipse the previous high set after World War II.



But the CBO doesn't see the climb stopping there. By 2055, debt will hit a staggering 156% of GDP and remain upward.



This explosive rise is largely due to chronic budget deficits. Over the next three decades, the federal deficit is expected to average 6.3% of GDP. That&#8217;s far higher than the 50-year historical average of 3.7%. By 2055, that deficit is seen reaching 7.3% of GDP.



That trajectory "would slow economic growth, push up interest payments to foreign holders of U.S. debt, and pose significant risks to the fiscal and economic outlook," the CBO wrote. 



It also warned the ballooning debt "could cause lawmakers to feel constrained in their policy choices."



<h3 class="wp-block-heading">Why Are U.S. Budget Deficits So High?</h3>



The CBO attributes these deficits to two primary culprits: rising interest payments on debt and persistent primary deficits, which exclude interest costs. 



Primary deficits are forecast to average 2% of GDP over the next 30 years, compared to 1.7% over the past five decades.



Spending is also part of the story, with the government's outlays hitting 26.6% of the GDP by 2055. A major portion of that will come from ballooning Medicare and Social Security costs as the population ages and healthcare expenses continue to climb.



"Rising interest costs; spending for the major health care programs, particularly Medicare; and spending for Social Security, especially over the next decade, drive that growth," the CBO said.



By 2055, spending on major healthcare programs is expected to account for 8.1% of GDP, up from 5.8% today.



<h3 class="wp-block-heading">Aging Population Leads To Slower Economic Growth</h3>



Slowing population growth—particularly among working-age individuals—will limit labor force expansion and, by extension, overall economic output.



The number of people aged 65 and older will grow faster than those in the prime working-age bracket, between 25 and 54, leading to a shift in the demographic structure. By 2033, the U.S. population would begin to shrink without immigration, the CBO said.



This demographic drag will cap real economic growth, with the economy expanding more slowly than it has over the past 30 years. Increased federal borrowing further dampens productivity and output, compounding long-term growth headwinds.



Real GDP growth is projected to decelerate steadily over the next three decades. The CBO estimates average annual growth of 2% from 2025 to 2035, slowing to 1.6% between 2036 and 2045 and further down to just 1.4% from 2046 to 2055—reflecting a weakening labor force and productivity drag from rising debt.



<h3 class="wp-block-heading">Risks Of Financial Disruption Could Threaten The Dollar Reserve Status</h3>



While the inflation picture appears stable, with rates projected to hover around the Federal Reserve's 2% target from 2027 onward, rising federal debt introduces new vulnerabilities to the outlook.



 The interest rate on 10-year Treasury notes is expected to remain close to its historical average over the next three decades, reflecting a tug-of-war between rising debt issuance and a slower-growing labor force.



But the risks of disruption are real. "The risk of a fiscal crisis—that is, a situation in which investors lose confidence in the value of the U.S. government's debt—would increase," the report said.



Such an event could "cause interest rates to rise abruptly and other disruptions to occur."



The report added that the U.S.'s fiscal position would be &#8220;more vulnerable to an increase in interest rates, because the larger the debt is, the more an increase in interest rates raises debt-service costs."



The consequences go beyond domestic concerns. If investors fear that inflation could rise, "expectations of higher inflation could erode confidence in the U.S. dollar as the dominant international reserve currency."



Read Now: 



<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44513963/us-gdp-growth-upwardly-revised-in-q4-trade-deficit-slightly-narrows-as-auto-exports-soar-in-february">US GDP Growth Upwardly Revised In Q4, Trade Deficit Slightly Narrows As Auto Exports Soar In February</a></li>
</ul>



Image: Shutterstock

Regulations

US Debt To Explode Past World War II Highs, Threatens Growth For Decades: CBO

AppLovin Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) shares were trading lower Thursday after short seller Muddy Waters issued a critical report on the company. Benzinga has reached out to AppLovin for comment on the <a href="https://www.benzinga.com/trading-ideas/technicals/25/03/44476998/stock-of-the-day-is-applovin-headed-even-higher">Muddy Waters report.</a>



What To Know: Muddy Waters alleged that its e-commerce operations rely heavily on retargeting, provide low incremental value and violate the terms of service of major digital ad platforms.



Muddy Waters stated that approximately 52% of AppLovin's e-commerce conversions come from retargeting, while only 25%-35% of sales are truly incremental. The report also alleged AppLovin extracts proprietary user data from major platforms, including Meta, Google and TikTok, to build artificial user graphs, giving it an unfair advantage in ad auctions.



The short seller further alleged AppLovin's techniques involve persistent identity graphs ("PIGs") to retarget high-value users, making its actions difficult to detect. Additionally, Muddy Waters reported a 23% churn rate among AppLovin's e-commerce beta advertisers, contradicting the company's prior statements of near-zero churn.



If the allegations are accurate, Muddy Waters suggested AppLovin could face the risk of deplatforming, similar to past cases like Cheetah Mobile.



AppLovin has yet to respond to the report.



APP Price Action: Applovin closed Thursday down 20.12% at $261.70, according to<a href="https://pro.benzinga.com/dashboard?new_user=False&amp;backend=google-oauth2"> Benzinga Pro.</a>



<figure class="wp-block-image size-large is-resized"><a href="https://pro.benzinga.com/dashboard?new_user=False&amp;backend=google-oauth2"><img loading="lazy" decoding="async" width="1024" height="559" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/27150945/Screenshot-2025-03-27-at-15.09.14-1024x559.png" alt="" class="wp-image-845722" style="width:442px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/27150945/Screenshot-2025-03-27-at-15.09.14-1024x559.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/27150945/Screenshot-2025-03-27-at-15.09.14-300x164.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/27150945/Screenshot-2025-03-27-at-15.09.14-768x419.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/27150945/Screenshot-2025-03-27-at-15.09.14.png 1096w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/03/44520779/stocks-slip-gold-rallies-auto-tariffs-benefit-tesla-rivian-punish-gm-ford-whats-driving-markets-thursday">Stocks Slide As Auto Tariffs Boost Tesla, Rivian And Hit GM, Ford: What&#8217;s Driving Markets Thursday?</a></li>
</ul>



Photo: Shutterstock.

Short Sellers

AppLovin Shares Fall 20% Following Muddy Waters Report On Alleged Platform Violations: What's Going On?

President Donald Trump centered his 2024 election campaign on bringing down prices after a prolonged <a href="https://www.benzinga.com/news/25/02/43962364/president-trump-says-inflation-is-back-claims-its-not-his-fault-but-bidens-i-had-nothing-to-do-with-it">period of inflation</a>. In particular, Trump called for greater domestic drilling, even as the Biden Administration accelerated <a href="https://www.benzinga.com/general/24/05/38962379/bidens-energy-policy-a-death-by-a-thousand-cuts-says-oil-boss-as-trump-seeks-to-court-industry-overw">domestic energy independence</a>. Now that Trump is in office, energy executives are beginning to become impatient with him.



What Happened: The Federal Reserve Bank of Dallas <a href="https://www.dallasfed.org/research/surveys/des/2025/2501#tab-comments">released </a>its quarterly survey of leaders in the oil and gas industry on Wednesday. Those surveyed did not mince words about their frustration with the Trump Administration.



&#8220;The administration&#8217;s chaos is a disaster for the commodity markets. &#8216;Drill, baby, drill&#8217; is nothing short of a myth and populist rallying cry. Tariff policy is impossible for us to predict and doesn&#8217;t have a clear goal. We want more stability,&#8221; one exploration and production executive said.



Feedback seemed to converge around a newfound state of uncertainty with the administration&#8217;s tariff policy and contradictory public statements. Respondents complained of difficulty planning for future years, given the administration&#8217;s changing rhetoric.



&#8220;I have never felt more uncertainty about our business in my entire 40-plus-year career,&#8221; another executive said.



Why it Matters: Trump&#8217;s ultimate tariff plans are unclear. The second-term president has repeatedly gone back and forth on his plans to place tariffs on U.S. allies, <a href="https://www.benzinga.com/politics/25/03/44283923/trump-tariff-delay-on-autos-supported-by-75-of-readers-in-poll-will-pause-lead-to-more-purchases-ahead-of-april">repeatedly pushing back</a> announced tariffs by weeks.



The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) has traded roughly even since Trump took office on Jan. 20, outpacing the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which is down around 6%.



Trump&#8217;s embrace of tariffs is unusual for a Republican president. President Ronald Reagan, whose ideology of free markets and deregulation dominated Republican Party politics for over 30 years, <a href="https://www.benzinga.com/markets/25/03/44269552/ronald-reagan-warned-that-tariffs-destroy-prosperity-trump-is-doubling-them-anyway-and-now-us-tech-giants-like-apple-and-nvidia-are-bracing-for-impact">warned tariffs</a> &#8220;hurt every American worker and consumer.&#8221;



Also Read:



<ul>
<li><a href="https://www.benzinga.com/markets/forex/25/03/44518720/april-2-tariffs-could-trigger-a-us-dollar-rally-to-sell-bank-of-america-economists-say">April 2 Tariffs Could Trigger A US Dollar &#8216;Rally To Sell,&#8217; Bank Of America Economists Say</a></li>
</ul>



Photo: Shutterstock

Oil And Gas Executives Rebuke Trump's 'Drill, Baby, Drill' Agenda: 'We Want More Stability'

Shares of Petco Health and Wellness Company Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WOOF#NASDAQ">WOOF</a>) skyrocketed in early trading on Thursday, despite the company reporting <a href="https://www.benzinga.com/news/earnings/25/03/44503412/petco-shares-soar-despite-worse-than-expected-q4-results">disappointing fourth-quarter results</a>.



The company reported its results amid an <a href="https://www.benzinga.com/earnings">exciting earnings season</a>. Here are some key analyst takeaways.



Wedbush On Petco Health and Wellness Company



<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5846ee57ee7bf6000154d134/seth-basham">Analyst Seth Basham</a> maintained an Outperform rating, while reducing the price target from $6 to $4.



Petco Health and Wellness Company's comps rose 0.5% in the quarter, slightly below consensus of 0.8%, while decelerating from the previous quarter's 1.8%, Basham said in a note. The company's gross margins expanded by 180 basis points to 38%, beating the consensus of 37.8%, he added.



"The results demonstrate solid progress under new CEO Joel Anderson to return the business model to retail operating excellence and drive structural costs out," the analyst wrote. While management guided to a decline in net sales, their adjusted EBITDA guidance came in at $82 million-$83 million, above consensus of $78.2 million, he stated.



Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.



RBC Capital Markets On Petco Health and Wellness Company



<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/61aa12038d115900012d093d/steven-shemesh">Analyst Steven Shemesh</a> reiterated an Outperform rating, while cutting the price target from $6 to $4.



Petco Health and Wellness Company's comps decelerated sequentially, expenses rose, and market share contracted in the quarter, Shemesh said. Management presented "a three-phased approach to reset its economic model and improve profitability," he added.



The first phase of improving its operating model and leadership team is complete, while the second phase of improving margins "through merchandising, sharpening approach to pricing/promotions, optimizing store fleet and overall cost discipline across the business" is currently underway, the analyst wrote. The third phase of testing growth initiatives to drive revenue growth will begin in late 2025, he stated.



Goldman Sachs On Petco Health and Wellness Company



<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58580bcbee7bf60001bcfa29/kate-mcshane">Analyst Kate McShane</a> reaffirmed a Buy rating, while raising the price target from $4.00 to $4.48.



Petco Health and Wellness Company's net revenues declined by 7.3% year-on-year to $1.552 billion, missing the consensus of $1.561 billion, McShane said. The management team "is focused on retail fundamentals to strengthen the foundation for Petco to return to sustainable and profitable growth," he wrote.



The company closed 25 net locations in 2024 and plans to close another 20 to 30 net locations in 2025, "many of which were unprofitable and will help drive better adj EBITDA," the analyst stated. Management guided to adjusted EBITDA profitability growth for 2025, he further stated.



WOOF Price Action: Shares of Petco Health and Wellness Company had risen by 28.6% to $3.14 at the time of publication on Thursday.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/insights/analyst-ratings/25/02/43568843/forecasting-the-future-6-analyst-projections-for-tradeweb-markets"> </a><a href="https://www.benzinga.com/news/earnings/25/03/44491397/dollar-tree-q4-earnings-surpass-estimates-unloads-family-dollar-for-1b">These Analysts Boost Their Forecasts On Chewy Following Earnings Beat</a></li>
</ul>



Photo: Shutterstock

WOOF

Petco Analysts See Turnaround Progress With Higher Margins, Profitability Focus

Dollar Tree Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) were rising after the company reported better-than-expected earnings for the fourth quarter and reached an <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/03/44505050/dollar-tree-sells-family-dollar-for-1-billion-truly-addition-by-subtraction-analyst-says">agreement to sell its Family Dollar business</a>.



The company reported its results amid an <a href="https://www.benzinga.com/earnings">exciting earnings season</a>. Here are some key analyst takeaways.



<h1 class="wp-block-heading">Truist Securities On Dollar Tree</h1>



<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/59493ca670ed7a0001097213/scot-ciccarelli">Analyst</a><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/59493ca670ed7a0001097213/scot-ciccarelli"> Scot Ciccarelli</a> reiterated a Buy rating, while lifting the price target from $76 to $84.



Dollar Tree has "solid sales momentum," resulting in fourth-quarter comp of 2.0%, which was "moderately better than our 1.0%E" and was driven by 70 basis points (bps) of transaction growth and 130 bps by ticket, Ciccarelli said in a note. Management projected 3%-5% comp growth in the first quarter and the full year, "which would be higher than the majority of our universe," he added.



While the terms of separation from Family Dollar and the process of transitioning multiple systems and platforms to the cloud could impact earnings in 2025, these expenses will ease over time, the analyst stated. Dollar Tree's recent investments in DT 3.0 should "generate positive results," he further wrote.



Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.



<h1 class="wp-block-heading">Telsey Advisory Group On Dollar Tree</h1>



<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5e301e08430dee0001c88c8d/joseph-feldman">Analyst</a><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5e301e08430dee0001c88c8d/joseph-feldman"> Joseph Feldman</a> maintained a Market Perform rating, while raising the price target from $75 to $82.



The company's decision to sell its Family Dollar business "should help streamline operations and unlock the value of its core Dollar Tree business," Feldman said. "Dollar Tree has successfully attracted higher income households that are trading down to seek value while remaining relevant to its middle-income households by offering alternatives," he wrote.



The company plans to open around 400 new stores, representing unit growth of around 4.5%, while accruing benefits from newness in merchandising, the analyst stated. While Dollar Tree's investments in store associates and technology will increase expenses in 2025, this is "a positive step for the long term," he added.



<h1 class="wp-block-heading">BMO Capital Markets On Dollar Tree</h1>



<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58d11d39b85e93000188d7a0/kelly-bania">Analyst Kelly Bania</a> reaffirmed a Market Perform rating and price target of $70.



"While the sale of Family Dollar should allow management to move forward with more focus and less capex drain, the outlook now squarely falls on the performance of Dollar Tree, which we believe may have to increasingly rely on price to offset a volatile and uncertain tariff outlook," Bania wrote in a note.



Proceeds from the Family Dollar sale, the elimination of a drain on capital expenses and cash in hand could leave Dollar Tree with around $2 billion in cash when the transaction closes in June, the analyst stated. This would provide "some cushion" for the company's earnings outlook for 2025, she added.



DLTR Price Action: Shares of Dollar Tree had risen by 9.46% to $75.95 at the time of publication on Thursday.



Read More:<a href="https://www.benzinga.com/insights/analyst-ratings/25/02/43568843/forecasting-the-future-6-analyst-projections-for-tradeweb-markets"> </a>  • <a href="https://www.benzinga.com/news/earnings/25/03/44491397/dollar-tree-q4-earnings-surpass-estimates-unloads-family-dollar-for-1b">Dollar Tree To Offload Family Dollar Business For $1 Billion, Anticipates 3% To 5% Standalone Same-Store Sales Growth</a>



Photo: Shutterstock

Earnings Beats

Price Target

Reiteration

DLTR

Dollar Tree Rides High On Strong Q4, Streamlined Focus, 'Solid Sales Momentum'

Wall Street dipped slightly on Thursday, with all major indexes edging into the red as investors digested President Donald Trump&#8216;s latest <a href="https://www.benzinga.com/government/regulations/25/03/44517885/trump-slaps-25-tariffs-on-autos-what-it-means-for-your-next-car-purchase">move on auto tariffs.</a>



Late Wednesday, Trump announced a 25% tariff on all auto imports starting next week, with duties on auto parts set to follow in May.



European automakers took a hit, with Mercedes-Benz Group AG (OTCPK: MBGAF) and Porsche Automobile Holding SE (OTCPK: POAHF) sliding 2.5% and 5%, respectively. 



Michigan-based carmakers didn't fare much better. Shares of Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) fell 2.5%, while General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) plunged 6.5%, with the latter marking the worst performance on the S&amp;P 500.



In contrast, U.S. electric vehicle makers rallied. Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rose 2.6%, and Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) jumped 5%. The rally followed comments from Goldman Sachs analyst Mark Delenay, who pointed to their fully domestic production as a significant advantage <a href="https://www.benzinga.com/25/03/44515578/trumps-25-tariff-set-to-hike-imported-car-prices-up-to-15000-higher-goldman-sachs-warns">under the new tariffs.</a>



Meanwhile, gold extended its rally, climbing over 1% and testing record highs as the U.S. dollar softened. Silver gained 2%, while copper pulled back 2% after a strong run that had lifted it to all-time highs.



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) held firm at $86,875, signaling a cautious tone across the crypto market.



<h3 class="wp-block-heading">Thursday&#8217;s Performance In Major US Indices, ETFs</h3>



<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>Nasdaq 100</td><td>19,840.57</td><td>-0.4%</td></tr><tr><td>Dow Jones</td><td>42,277.82</td><td>-0.4%</td></tr><tr><td>S&amp;P 500</td><td>5,687.68</td><td>-0.4%</td></tr><tr><td>Russell 2000</td><td>2,060.90</td><td>-0.7%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated at 1:00 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>) inched 0.4% lower to $566.80.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) fell 0.5% to $422.32.</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;dropped 0.5% to $482.05.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.6% to $204.29</li>



<li>The&nbsp;Consumer Staples&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) outperformed, up 0.8%; the&nbsp;Energy&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 1%.</li>
</ul>



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



<ul>
<li>Dollar Tree Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) rallied over 8% after the company announced that it would sell its Family Dollar business for $1.01 billion to Brigade and Macellum Capital.</li>



<li>AutoZone Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZO#NYSE">AZO</a>) rallied 3.7% to fresh record highs in reaction to import tariffs on automotive parts.</li>



<li>Shares of car rental firms also rallied amid potentially higher margins. Avis Budget Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAR#NASDAQ">CAR</a>) and Hertz Global Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>) both rocketed by about 20%. </li>



<li>GameStop Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) plunged 22% after it announced a private offering of convertible debt to buy Bitcoin.</li>



<li>New Fortress Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFE#NASDAQ">NFE</a>) tumbled more than 10% after the company announced plans to divest its natural gas assets and operations in Jamaica. </li>



<li>Lululemon Athletica Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) will report its earnings after the close. Shares were up 0.7%. </li>
</ul>



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/forex/25/03/44518720/april-2-tariffs-could-trigger-a-us-dollar-rally-to-sell-bank-of-america-economists-say">April 2 Tariffs Could Trigger A US Dollar &#8216;Rally To Sell,&#8217; Bank Of America Economists Say</a></li>
</ul>



Image created using artificial intelligence via Midjourney.

RIVN

Stocks Slide As Auto Tariffs Boost Tesla, Rivian And Hit GM, Ford: What's Driving Markets Thursday?

Elon Musk's leadership of the DOGE initiative for the Trump administration has thrown Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) into the center of <a href="https://www.benzinga.com/markets/equities/25/02/43905675/tesla-will-press-charges-against-vandalism-at-superchargers-as-brand-backlash-grows-over-elon-musks-political-ties">a global political storm</a>. 



Once a symbol of innovation, the electric vehicle company now finds itself at the heart of controversy, with protests erupting at dealerships, <a href="https://www.benzinga.com/news/25/03/44463376/tesla-showroom-targeted-in-austin-as-vandalism-escalates">vehicles vandalized</a>, and a massive "TeslaTakedown" day of action planned for Saturday, March 29. 



Musk faces a defining crisis as tensions boil over—can he steer Tesla through the chaos and reclaim control of the brand's future? Wedbush analyst Daniel Ives bets he can. 



On Thursday, Ives reiterated Tesla with an Outperform rating and a <a href="https://www.benzinga.com/quote/TSLA/analyst-ratings" target="_blank" rel="noreferrer noopener">$550 price target</a>.



Also Read: <a href="https://www.benzinga.com/government/regulations/25/03/44330619/tesla-bets-on-low-cost-evs-in-china-after-february-sales-hit-two-year-low" target="_blank" rel="noreferrer noopener">Tesla Bets On Low-Cost EVs in China After February Sales Hit Two-Year Low</a>



Ives expects a soft, rip-the-band-aid-off first-quarter delivery number to hit on April 2. If deliveries fall within the 355,000 to 360,000 range, that&#8217;s down roughly 7%. For context, original Street estimates were over 400,000 to start the quarter and have decreased drastically as the weekly global data has weakened. 



Europe&#8217;s numbers are under significant pressure, with demand softness also seen in the U.S. and China.



Much of this softness is related to customers waiting for Model Y refreshes. Also, Tesla expects to launch a new lower-cost model by the summer. However, anti-Musk and brand issues are clearly at play and significant in this weak first-quarter delivery number.



Ives estimated that 30% of the very soft first-quarter delivery number is related to Musk, the brand, and DOGE. About 70% is more timing and non-brand headwind issues.



&#8220;It has been a tumultuous few months for Musk and Tesla as investors have navigated a very stormy backdrop with Tesla becoming a lightning rod of controversy,&#8221; Ives wrote. Musk&#8217;s DOGE initiative has &#8220;essentially taken on a life of its own&#8221; and turned Tesla into &#8220;a political symbol globally with protests, violence and demonstrations at dealerships and cars keyed,&#8221; he added. 



Ives expects the first quarter to be the &#8220;low point.&#8221; The Street is reviewing the numbers to better understand the delivery trajectory for the rest of the year. 



That depends on whether Musk can balance being Tesla&#8217;s CEO and running DOGE. Ives says investors and employees yearn for Musk&#8217;s leadership at this juncture. 



Musk recently held an all-hands meeting, and the <a href="https://www.benzinga.com/trading-ideas/technicals/25/03/44460563/tesla-jumps-10-on-china-fsd-optimism-tariff-easing-hopes">stock has recovered somewhat</a>. The analyst noted that perhaps investors are starting to sense a potential turning point in this latest Tesla chapter.



Musk also impressed Ives with Tesla&#8217;s long-term strategic vision, which includes autonomous vehicles and robotics.



So far, Musk has guided Tesla towards Austin&#8217;s <a href="https://www.benzinga.com/news/25/03/44458804/elon-musk-10-years-ago-called-autonomous-driving-a-solved-problem-said-we-will-be-there-in-a-few-years">unsupervised full self-driving</a>, or FSD. <a href="https://www.benzinga.com/tech/25/02/43906182/tesla-begins-hiring-for-cybercab-manufacturing-as-elon-musk-led-ev-giant-prepares-for-robotaxi-rollout">The Cybercab also debuted</a>. 



Plus, a lower-cost vehicle launch and more Model 3/Y refreshes, autonomous and robotics/Optimus technology improvements &#8220;set the stage for a new era of growth.&#8221;



&#8220;This continues to be a moment of truth for Musk to navigate this brand tornado crisis moment and get onto the other side of this dark chapter for Tesla with much better days ahead we see for the story,&#8221; Ives said. 



Ives projected first-quarter revenue of $24.05 billion and EPS of 56 cents.



Price Action:&nbsp;Tesla stock is up 2.6% at $279.12 at last check Thursday. It&#8217;s down over 26.4% year-to-date.



Also Read:



<ul>
<li><a href="https://www.benzinga.com/25/03/44283118/tesla-loses-ground-in-us-ev-market-while-rivals-accelerate-ahead-in-january-report" target="_blank" rel="noreferrer noopener">Tesla Loses Ground in US EV Market While Rivals Accelerate Ahead in January: Report</a></li>
</ul>



Image: Shutterstock

Tesla In Turmoil: Analyst Pins Hope On 'New Era' Robotics, Self-Driving

A U.S. dollar bounce in reaction to imminent reciprocal tariff announcements might be the perfect moment to cash out before deeper economic tensions unravel the greenback, <a href="https://www.benzinga.com/topic/expert-ideas">according to Bank of America. </a>



In its latest FX Viewpoint report, the team led by Athanasios Vamvakidis reaffirmed a bearish outlook for the dollar beyond the near term, citing diverging policy paths between the U.S. and Europe.



While the dollar may gain ground following the tariff rollout, Bank of America said the rally would likely be short-lived as stagflation risks mount in the U.S. and Europe accelerates its fiscal and structural stimulus.



&#8220;Most likely, this would be a USD rally to sell,&#8221; the note stated. 



At the time of this writing, the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) is down 3% year-to-date, while the Invesco CurrencyShares Euro Currency Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXE#NYSE">FXE</a>) has gained 4.5% over the same period.



<h1 class="wp-block-heading">Dollar Set To Gain On Tariffs, Yet Fundamentals Remain Shaky</h1>



&#8220;The USD could still strengthen short-term on high tariffs, but we remain bullish EURUSD for the year on stagflationary U.S. policies and historic EU reforms,&#8221; Vamvakidis said.



Historically, the U.S. dollar's response to tariffs has been mixed. 



While trade barriers can curb imports and boost inflation — supporting the dollar short term — they also threaten growth and trigger risk aversion, which can weigh on the currency over time.



Ahead of the April 2 tariff implementation, Bank of America observed that hedge funds resumed dollar buying after unwinding stretched long positions earlier this year.



According to analysts, the overall USD market position is now neutral.



<h1 class="wp-block-heading">How Could The Fed Respond To Stagflation</h1>



Bank of America maintains a bearish medium-term view on the greenback, driven by what it sees as a stagflationary U.S. policy mix: high tariffs, fiscal tightening and unclear monetary direction from the Federal Reserve.



The market has already priced in four rate cuts this year, up from just 1.5 cuts at the start of 2025. That shift stems from expectations that the Fed will prioritize economic support over reacting to temporary inflation spikes caused by tariffs.



"If the Fed hikes in response to inflation, we would expect the USD to strengthen again," Vamvakidis said. 



Yet, he warned that such strength could be short-lived, as tighter policy may eventually lead to a sharp equity sell-off and economic contraction — bringing the dollar back down.



Bank of America's FX desk says government spending cuts and higher tariffs are defining the policy backdrop, dragging the U.S. closer to stagnating growth combined with elevated inflation.



<h1 class="wp-block-heading">Europe's Comeback: Can The Euro Overtake?</h1>



While the U.S. faces policy uncertainty, Europe is quietly orchestrating its most ambitious economic transformation in over a decade. 



Vamvakidis said the European Union&#8217;s push to spend 800 billion euros on defense and invest in infrastructure is a historic pivot, especially for Germany, which is executing a 12-year fiscal expansion worth at least 22% of GDP.



The fiscal shift marks a break from years of austerity. 



"These are game changers," Bank of America said, adding that the market is underestimating the long-term impact of the EU&#8217;s reform agenda. However, it also warned that the shift would take time to fully materialize. "It is going to be a marathon, not a sprint."



The bank sees the euro-dollar exchange rate rallying to 1.15 levels by December 2025, up nearly 7% from current levels. 



Read Now: 



<ul>
<li><a href="https://www.benzinga.com/25/03/44515578/trumps-25-tariff-set-to-hike-imported-car-prices-up-to-15000-higher-goldman-sachs-warns">Trump&#8217;s 25% Tariff Set To Hike Imported Car Prices Up To $15,000 Higher, Goldman Sachs Warns</a></li>
</ul>



Photo: Shutterstock

Eurozone

Forex

April 2 Tariffs Could Trigger A US Dollar 'Rally To Sell,' Bank Of America Economists Say

Car prices surged during and after the COVID-19 pandemic. Experts are now warning consumers to prepare for additional price hikes due to President Donald Trump's new 25% tariff on imported vehicles and <a href="https://www.benzinga.com/markets/25/03/44509009/over-7-million-vehicles-could-face-the-brunt-of-trumps-auto-tariffs-this-could-drive-the-auto-industry-into-recession">certain auto parts.&nbsp;</a>



What To Know: President Trump announced the tariffs on Tuesday evening, saying<a href="https://www.benzinga.com/25/03/44506345/trump-imposes-25-tariffs-on-auto-imports-says-this-will-continue-to-spur-growth-canada-eu-slam-the-move"> they will </a>&#8220;charge countries for doing business in our country and taking our jobs, taking our wealth,&#8221; and claiming they will &#8220;spur growth like you haven't seen before.&#8221;&nbsp;



Experts predict these tariffs will lead to tighter supply and higher prices by mid-April.&nbsp;



Read Next: <a href="https://www.benzinga.com/news/global/25/03/44494896/us-adds-50-chinese-entities-to-export-restriction-list-curtailing-access-to-nvidia-amd-chips">US Adds 50 Chinese Entities To Export Restriction List Curtailing Access To Nvidia, AMD Chips</a>



&#8220;You&#8217;re going to see price increases,&#8221; Ivan Drury, director of insights at automotive research site Edmunds, told USA Today. &#8220;It&#8217;s such a shotgun approach. Virtually nothing goes unscathed.&#8221; &nbsp;



Price increases are expected across the board, affecting new and used cars, maintenance costs and even insurance premiums as the cost of replacement parts will also go up.&nbsp;



New vehicle prices have gone up approximately 25% <a href="https://www.coxautoinc.com/market-insights/february-2025-atp-report/">since early 2020</a>, according to the Kelley Blue Book, with the average price for a new car just above $48,000 as of February 2025.&nbsp;



According to estimates from the Anderson Economic Group, electric vehicle prices could rise by as much as $12,200 once the tariffs are in effect. Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) EVs could see similar price hikes as the automaker relies heavily on imported batteries and electronics.&nbsp;



Wedbush analyst Dan Ives remained hopeful in a note written Wednesday that the auto tariffs are a negotiation tool and will be revised in the coming weeks.&nbsp;



However, Ives said the tariffs in their current form &#8220;would be a hurricane-like headwind to foreign (and many US) automakers&#8221; and could raise the average car price by $5,000 to $10,000, depending on the make and model.&nbsp;



Why It Matters: While the tariffs might encourage U.S. manufacturing investment in the long term, consumers will face immediate price challenges. Shares of the Big Three U.S. automakers&#8217; stocks are also suffering, with Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), Stellantis N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) and General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) all down sharply on Trump's tariff plans.&nbsp;



Most experts agree that consumers who were considering purchasing a vehicle may now want to move sooner than later as prices are expected to rise.&nbsp;



"If you were thinking about buying in the next couple of years, it might not be a bad idea to make that purchase now if you can afford it," Monica Dwyer, a certified financial planner, <a href="https://www.cnbc.com/2025/03/24/how-much-tariffs-could-drive-up-car-prices.html">told</a> CNBC.&nbsp;



Read More:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/news/global/25/03/44477467/trumps-tariffs-on-buyers-of-venezuelan-oil-could-boost-energy-sector-exxon-mobil-stock">Trump&#8217;s Tariffs On Buyers Of Venezuelan Oil Could Boost Energy Sector, Exxon Mobil Stock&nbsp;</a></li>
</ul>



Image: Shutterstock&nbsp;

Personal Finance

STLA

Trump Slaps 25% Tariffs On Autos: What It Means For Your Next Car Purchase

Economic data released Thursday morning showed a marginal upward revision to U.S. gross domestic product growth for the fourth quarter of 2024, alongside a narrower but still historically high goods <a href="https://www.benzinga.com/news/econ-s">trade deficit for February.</a>



The Bureau of Economic Analysis reported that the U.S. economy expanded at an annualized rate of 2.4% in the fourth quarter of 2024, up from the previously estimated 2.3%. 



While this marks a slight improvement, it also reflects a slowdown from the 3.1% growth rate recorded in the third quarter.



&#8220;The increase in&nbsp;real GDP&nbsp;in the fourth quarter primarily reflected increases in consumer spending and government spending that were partly offset by a decrease in investment. Imports, which are a subtraction in the calculation of GDP, decreased,&#8221; the statement said.



The key industry contributors to economic growth during the quarter included:



<ul>
<li>Real estate and rental and leasing, adding 0.38 percentage points to GDP</li>



<li>Professional, scientific, and technical services, contributing 0.37 percentage points</li>



<li>Health care and social assistance, accounting for 0.34 percentage points</li>
</ul>



On the downside, durable goods manufacturing and wholesale trade subtracted 0.05 percentage points each from the headline figure.



Inflation metrics remained relatively stable. The price index for gross domestic purchases increased by 2.2%, revised down 0.1 percentage point. The Personal Consumption Expenditure price index, a key inflation gauge, rose 2.4%, unchanged from the prior estimate. 



The core PCE, which excludes volatile food and energy prices and is closely monitored by the Federal Reserve, rose 2.6%, slightly lower than the previously estimated 2.7%.



<h3 class="wp-block-heading">Trade Deficit Shrinks Less Than Expected, Auto Exports Rocket Ahead Of Tariffs</h3>



In a separate report, the U.S. Census Bureau noted that the goods trade deficit narrowed to $147.9 billion in February from a record-high $155.6 billion in January. 



The slight improvement fell short of economist expectations, which had forecast a much narrower gap of $134.5 billion.



The data suggests that trade front-loading ahead of potential tariff increases may have persisted during the month.



February exports totaled $178.6 billion, an increase of $7.0 billion from January. Imports eased slightly to $326.5 billion, down $0.6 billion. 



Notable export movements in February included a sharp 12.7% increase in automotive vehicles, which rose to $14.22 billion on a seasonally-adjusted basis. 



Capital goods exports climbed by 4.8%, while consumer goods advanced 2.8% over the month. 



On the import side, automotive vehicles rose 1.2%, consumer goods increased 2.8%, and the &#8220;other goods&#8221; category posted a strong 6.1% monthly gain.



<h3 class="wp-block-heading">U.S. Goods Trade Balance – February 2025</h3>



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><thead><tr><th>Category</th><th>Exports (Feb)</th><th>M/M % Change</th><th>Imports (Feb)</th><th>M/M % Change</th></tr></thead><tbody><tr><td>Foods, Feeds &amp; Beverages</td><td>13.04</td><td>+4.1%</td><td>19.61</td><td>-5.4%</td></tr><tr><td>Industrial Supplies</td><td>62.37</td><td>-2.9%</td><td>85.99</td><td>-0.2%</td></tr><tr><td>Capital Goods</td><td>59.34</td><td>+4.9%</td><td>89.26</td><td>-2.1%</td></tr><tr><td>Automotive Vehicles, etc.</td><td>14.22</td><td>+12.7%</td><td>38.43</td><td>+1.2%</td></tr><tr><td>Consumer Goods</td><td>22.11</td><td>+2.8%</td><td>80.51</td><td>+2.8%</td></tr><tr><td>Other Goods</td><td>7.52</td><td>+6.1%</td><td>12.71</td><td>+6.1%</td></tr><tr><td>Total</td><td>178.60</td><td>+4.1%</td><td>326.51</td><td>-0.2%</td></tr></tbody></table><figcaption class="wp-element-caption">Data: U.S. Census Bureau</figcaption></figure>



<h3 class="wp-block-heading">Labor Market Remains Steady</h3>



Labor market data showed little deviation from expectations. 



According to the Labor Department, initial jobless claims came in at 224,000 for the week, closely aligned with forecasts and the prior week&#8217;s 225,000.



Continuing jobless claims dropped to 1.856 million, outperforming projections of a slight rise to 1.89 million and improving from the previous 1.881 million, signaling resilience in the employment landscape.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/25/03/44509733/gm-ford-tesla-and-other-auto-stocks-slide-in-thursday-pre-market-whats-going-on">GM, Ford, Tesla And Other Auto Stocks Slide In Thursday Pre-Market: What&#8217;s Going On?</a></li>
</ul>



Photo: Shutterstock

US GDP Growth Upwardly Revised In Q4, Trade Deficit Slightly Narrows As Auto Exports Soar In February

Following President Donald Trump&#8217;s latest tariff move, U.S. consumers could be expected to spend up to $15,000 more on an imported vehicle. This move could sharply rattle auto demand and reshape the competitive dynamics of <a href="https://www.benzinga.com/markets/25/03/44509733/gm-ford-tesla-and-other-auto-stocks-slide-in-thursday-pre-market-whats-going-on">the U.S. automotive market.</a>



In a note shared Thursday, Goldman Sachs analyst Mark Delaney, CFA, said the new 25% tariff on imported autos and certain parts, effective April 3, could raise vehicle prices by $5,000 to $15,000, depending on the model and country of origin.



<h3 class="wp-block-heading">How Much Could US Auto Prices Rise Amid Tariffs?</h3>



According to Goldman Sachs, the price increase assumes tariffs are applied to vehicles ranging from $20,000 to $60,000 — a bracket that covers a large portion of the U.S. auto market.



Delaney said that U.S.-assembled vehicles wouldn't be spared either. With roughly 50% of their components sourced from abroad, tariffs on foreign-made parts could raise the cost of a U.S.-built vehicle by an additional $3,000 to $8,000, based on similar assumptions.



While the White House executive order carves out an exemption for USMCA-compliant content — meaning vehicles and parts meeting certain thresholds of North American origin will only face tariffs on their non-U.S. share — the impact is still expected to be widespread.



Read now: <a href="https://www.benzinga.com/25/03/44506345/trump-imposes-25-tariffs-on-auto-imports-says-this-will-continue-to-spur-growth-canada-eu-slam-the-move">Trump Imposes 25% Tariffs On Auto Imports, Says &#8216;This Will Continue To Spur Growth&#8217; — Canada, EU Slam The Move</a>



<h3 class="wp-block-heading">Goldman Sachs Sees Earnings Impact For US Automakers</h3>



Of the 16 million light vehicles sold in the U.S. in 2024, only 8 million were assembled domestically, per the White House fact sheet. Further, even those U.S.-built cars contain a significant chunk of foreign content, intensifying the price impact.



Goldman Sachs estimates that a low- to mid-single-digit increase in car prices could lead to a low-single to low-double-digit drop in auto sales, all else being equal. 



That's based on historical elasticity patterns between price and demand in the mainstream vehicle market.



That spells potential trouble for automakers and suppliers alike. 



"We continue to believe that tariffs are a downside risk to earnings for both original equipment manufacturers and suppliers," Delaney said. 



<h3 class="wp-block-heading">Winners And Losers: Will Tesla And Rivian Gain?</h3>



The blow may not be evenly distributed. Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>), which manufacture all their U.S. market vehicles domestically, may emerge relatively unscathed.



On the other hand, Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) and General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) may face a tougher balancing act.



Goldman's estimates show that Ford sources 80% of its U.S. vehicle content domestically, while GM comes in at about 60%-70%. Both companies also export some U.S.-made vehicles, adding complexity to their tariff exposure.



Still, automakers aren't without tools. GM has previously said it could offset 30% to 50% of tariff-related costs through price hikes, supply chain adjustments or production shifts.



"There are some scenarios where the U.S. OEMs can fully offset tariffs," Delaney said, "but also scenarios where OEMs see material negative earnings per share revisions."



Read now: 



<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44513963/us-gdp-growth-upwardly-revised-in-q4-trade-deficit-slightly-narrows-as-auto-exports-soar-in-february">US GDP Growth Upwardly Revised In Q4, Trade Deficit Slightly Narrows As Auto Exports Soar In February</a></li>
</ul>



Photo: Shutterstock

Trump's 25% Tariff Set To Hike Imported Car Prices Up To $15,000 Higher, Goldman Sachs Warns

The Symbol BRK was not found. Here are some similar symbols and popular symbols to consider.

BRK Page Not Found - Benzinga

Symbol Similar to: BRK

Top Gaining Stocks

Notizie

PARTNER/COLLABORATORE

BENZINGA NEL MONDO