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Tech bull and prominent analyst Dan Ives is optimistic about the impact of a potential Donald Trump win on the Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock, as the former president stands <a href="https://www.benzinga.com/news/24/11/41766547/trump-gives-victory-speech-in-florida-as-winning-pennsylvania-puts-him-at-brink-of-victory-vows-to-f">three electoral votes away from securing the presidency</a>.
What Happened: Ives, an analyst at Wedbush Securities, suggests Tesla could see substantial gains under a potential Trump administration, despite broader challenges for the electric vehicle industry.
&#8220;The biggest positive from a Trump win would be for Tesla/Musk,&#8221; Ives wrote on X, formerly known as Twitter. &#8220;We believe a Trump win is a negative for the EV industry as the EV rebates/tax incentives get pulled, however for Tesla a huge positive for scale/price advantage.&#8221;
Ives projects a potential $40-$50 boost to Tesla&#8217;s stock price under a Trump presidency, citing the company&#8217;s established market position and manufacturing scale. Based on the current Tesla stock price, this presents an upside of nearly 16% to 20%.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The biggest positive from a Trump win would be for Tesla/Musk. We believe a Trump win is a negative for the EV industry as the EV rebates/tax incentives get pulled, however for Tesla a huge positive for scale/price advantage. A Trump win could add $40-$50 to Tesla&#39;s stock &#x1f525;&#x1f3c6;&#x1f402;
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1854049545300156565?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
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Additionally, he expects significant artificial intelligence initiatives that would benefit Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Alphabet Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Google, and Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>).
Trump is currently leading key battleground states, according to the Associated Press.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We would expect significant AI initiatives from the Beltway within the US that would be a benefit for Microsoft, Amazon, Google, and other tech players. Under Trump we would expect major AI initiatives that would also be a major tailwind from AI players like Palantir. &#x1f525;&#x1f3c6;&#x1f402;&#x1f37f;
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1854058502219829738?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/24/11/41766547/trump-gives-victory-speech-in-florida-as-winning-pennsylvania-puts-him-at-brink-of-victory-vows-to-f">Trump Gives Victory Speech In Florida As Winning Pennsylvania Puts Him At Brink Of Victory, Vows To &#8216;Fix Everything About Our Country&#8217;</a>
Why It Matters: Meanwhile, the news of Trump&#8217;s potential re-election has already had a significant impact on the market. The shares of Trump Media &amp; Technology Group Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) surged, and <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41765518/5-things-moving-as-trump-trade-fever-sweeps-wall-street-amid-election-night-drama">stock futures also experienced a rise</a> on election night. 
Additionally, <a href="https://www.benzinga.com/news/24/11/41765345/treasury-yields-pop-on-trump-victory-chances-10-year-benchmark-reaches-4-month-high">yields on U.S. sovereign debt rose</a> as investors digested the preliminary results from the closely contested fight between Trump and Kamala Harris.
Price Action: Tesla stock closed at $251.44 on Tuesday, rising by 3.54%, for the day. In after-hours trading, the stock climbed further 3.01%. Over the past year, Tesla&#8217;s stock has surged by 14.67%, according to <a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/11/41734887/cathie-woods-latest-shake-up-dumps-palantir-and-jack-dorseys-block-along-with-tesla-buys-amazon-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Cathie Wood&#8217;s Latest Shake-up: Dumps Palantir And Jack Dorsey&#8217;s Block Along With Tesla, Buys Amazon And Meta</a></li>
</ul>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

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Trump Win 'Biggest Positive' For Elon Musk's Tesla, Tech Bull Says It Could Boost EV Giant's Stock By This Much

The cryptocurrency market received an unprecedented boost after Donald Trump, a vocal advocate of the asset class, came to the brink of victory after winning the key battleground states of Pennsylvania, and North Carolina.
What happened: The Associated Press declared Trump the winner at 2:24 a.m. ET, as the highly charged cycle that saw cryptocurrencies become a significant election issue nears its end.
Trump <a href="https://www.benzinga.com/news/24/11/41766547/trump-gives-victory-speech-in-florida-as-winning-pennsylvania-puts-him-at-brink-of-victory-vows-to-f">claimed victory</a> at the Palm Beach Convention Center, the home of his official election night party, although AP was yet to project him as the winner.
Bitcoin, the barometer of the market, set a new all-time high earlier, as odds of a Trump victory started increasing on prediction <a href="https://polymarket.com/event/presidential-election-winner-2024?tid=1730877376956">markets </a>like Polymarket and Kalshi.
As of this writing, Bitcoin cooled down to $73,000, as traders took profits on the rally.
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<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 3 a.m. ET)</td>
</tr>
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<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+6.24%</td>
<td>$73,004.14</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>+14.22%</td>
<td>$0.1922</td>
</tr>
<tr>
<td>Maga (TRUMP)</td>
<td>-5.27%</td>
<td>$3.33</td>
</tr>
</tbody>
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Bitcoin's rise seemed unavoidable, as the former President had passionately advocated for the asset class, going to the extent of promising a <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40671868/trumps-bitcoin-strategic-reserve-proposal-will-chip-away-dollars-status-warns-expert-money">national Bitcoin reserve</a>.
Dogecoin was another winner of the day, pumping over 14% in what appeared to be a reaction to the planned <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41220500/elon-musk-says-potential-doge-department-under-a-trump-administration-will-be-a-garbage-co">Department of Government Efficiency</a>, or &#8216;DOGE,&#8217; led by Elon Musk under the incoming administration.
Cryptocurrency themed around the man himself Maga, rooted in the "Make America Great Again" movement, dipped somewhat after soaring as high as 18% Tuesday overnight.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41764861/shytoshi-kusama-promotes-s-h-i-b-as-elon-musk-touts-d-o-g-e-shiba-inu-rallies-10-amid-broa">Shytoshi Kusama Promotes S.H.I.B As Elon Musk Touts D.O.G.E — Shiba Inu Rallies 10% Amid Broader Crypto Gains</a>
Why It Matters: Daniel Cheung, co-founder of cryptocurrency hedge fund Syncracy Capital, expressed optimism for a "biblical" bull market for cryptocurrencies in the coming months.&nbsp;
He said that Trump&#8217;s presidency would be a 4-year call option on the market, with expectations of SEC Chair Gary Gensler <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40002734/trump-says-bitcoin-will-skyrocket-like-never-before-if-he-returns-to-the-white-house-promi">being removed</a>, the U.S. adopting a sandbox approach to the sector, and a potential Bitcoin strategic reserve.
He also projected that Trump&#8217;s triumph would encourage retail participation, resulting in additional flows into the asset class.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I believe that crypto is potentially headed for a biblical bull market in the coming months that could surpass 2021 &#8211; some thoughts on the current market setup under a Trump Administration: 1) Trump presidency is a 4 year call option on crypto markets (i.e. Gensler fired, US…
&mdash; Daniel Cheung (@HighCoinviction) <a href="https://twitter.com/HighCoinviction/status/1854043885871514111?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
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Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41763299/trump-themed-cryptos-nfts-surge-in-expectations-of-former-presidents-victory-coin-inspired">Trump-Themed Cryptos, NFTs Surge In Expectations Of Former President&#8217;s Victory — Coin Inspired By Harris Falls 13%</a></li>
</ul>
Image Via Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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Bitcoin, Dogecoin Spike After Trump's Speech In Florida, Winning Key Battle States Puts Ex-President On Cusp Of Victory

Nevada Approves Abortion Rights Ballot Measure But Won't Go Into Effect Until 2026

Billionaire entrepreneur Mark Cuban congratulated former President Donald Trump and Tesla Inc. CEO Elon Musk on <a href="https://www.benzinga.com/news/24/11/41766547/trump-gives-victory-speech-in-florida-as-winning-pennsylvania-puts-him-at-brink-of-victory-vows-to-f">their potential victory</a>, even before the final election results are announced.
What Happened: Cuban took to X, formerly Twitter, and acknowledged the probable win of Trump and Musk. 
&#8220;Congrats @realDonaldTrump. You won fair and&nbsp;square. Congrats to @elonmusk as&nbsp;well. #Godspeed,&#8221; Cuban wrote.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Congrats <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a>. You won fair and square. Congrats to <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> as well. <a href="https://twitter.com/hashtag/Godspeed?src=hash&amp;ref_src=twsrc%5Etfw">#Godspeed</a>
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1854046994345382034?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/general/politics/24/11/41732623/bakery-that-often-predicts-election-outcomes-has-this-candidate-winning-in-trump-harris-battle-d?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bakery That Often Predicts Election Outcomes Has This Candidate Winning In Trump, Harris Battle</a>
At the time of Cuban&#8217;s concession, the Associated Press&#8217;s count showed Trump close to securing the presidency, with 267 of the required 270 electoral votes. Trump was also leading in key yet-to-be-decided races, including Michigan and Wisconsin.
Why It Matters: Cuban, who previously <a href="https://www.benzinga.com/startups/24/10/41574981/mark-cuban-questions-why-trump-supporters-stay-silent-on-his-treatment-of-vendors-says-he-will-take">praised Trump in 2015</a> as the &#8220;best thing to happen to politics in a long time,&#8221; has become one of his fiercest critics.
He endorsed Hillary Clinton in the 2016 election and has remained a strong supporter of the Kamala Harris campaign in the current election cycle.
He also <a href="https://www.benzinga.com/news/24/10/41417224/trump-unleashes-scathing-attack-on-former-friend-mark-cuban-after-billionaire-criticizes-ex-presiden">criticized&nbsp;Trump&#8217;s tariff plans</a> that include a 20% blanket tariff on all imports and a 60% levy specifically on Chinese goods. 
Despite their&nbsp;<a href="https://www.benzinga.com/news/24/10/41222696/mark-cuban-recalls-his-love-hate-relations-with-trump-its-not-like-i-dont-like-him-i-just-dont-think">complex relationship</a>, Cuban has maintained business ties with Trump&#8217;s supporters, including a&nbsp;<a href="https://www.benzinga.com/startups/24/11/41750733/this-is-america-mark-cuban-says-justifying-his-business-relationship-with-trumps-100m-megadonor-and">business relationship</a>&nbsp;with Trump&#8217;s $100M megadonor, Miriam Adelson.
Read Next:
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<li><a href="https://www.benzinga.com/markets/asia/24/11/41722178/if-trump-and-republicans-sweep-dollar-may-climb-7-but-harris-win-could-bring-5-drop-says-jpmorgan?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">If Trump And Republicans Sweep, Dollar May Climb 7% — But Harris Win Could Bring 5% Drop, Says JPMorgan</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photos courtesy: Shutterstock

Mark Cuban Congratulates Trump, Musk Before The Election Is Called, Says They 'Won Fair And Square'

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.crowdstrike.com%2Fen-us%2F&amp;esheet=54147816&amp;newsitemid=20241106324741&amp;lan=en-US&amp;anchor=CrowdStrike&amp;index=1&amp;md5=15ecc416fff1ecb9f6ea37b9781227b7">CrowdStrike</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) today announced it has agreed to acquire Adaptive Shield, a leader in SaaS Security. With this acquisition, CrowdStrike will be the only cybersecurity vendor to provide unified, end-to-end protection against identity-based attacks across the entire modern cloud ecosystem – from on-premises Active Directory to cloud-based identity providers and SaaS applications – delivered from a single, unified platform. Announced at <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.crowdstrike.com%2Fevents%2Ffal-con%2Feurope%2F&amp;esheet=54147816&amp;newsitemid=20241106324741&amp;lan=en-US&amp;anchor=Fal.Con+Europe&amp;index=2&amp;md5=e7219e94d2ead6847062eedd1ce8f3cf">Fal.Con Europe</a>, CrowdStrike's inaugural premier user conference in the region, this acquisition will position CrowdStrike as the leading provider of comprehensive protection across complex hybrid environments.

CRWD

CrowdStrike Expands Cybersecurity Reach with Acquisition of Adaptive Shield

Former President Donald Trump declared victory in the 2024 presidential election after winning <a href="https://www.benzinga.com/news/24/11/41762845/trump-wins-kentucky-indiana-harris-scores-vermont-as-polls-begin-to-close-across-us">the key battleground states</a>. Trump, who was addressing his supporters in New York, also praised his running mate, JD Vance, and acknowledged the role of tech mogul Elon Musk in his campaign.
What Happened: Trump, in his victory speech, lauded his supporters for overcoming seemingly insurmountable challenges on Tuesday night. He expressed his determination to &#8220;fix everything about our country&#8221; and described his win as &#8220;the greatest political movement of all time.&#8221;
According to <a href="https://apnews.com/live/trump-harris-election-updates-11-5-2024">the</a> latest numbers from The Associated Press, Trump has 267 out of the 270 electoral votes needed for victory. The Republican party is currently leading in key states like Michigan and Wisconsin, which are yet to be called.
Trump secured a victory in Pennsylvania, earning 19 electoral votes after capturing over 51% of the vote in this pivotal swing state.
&#8220;I want to thank the American people for the extraordinary honor of being elected your 47th president and your 45th president,&#8221; Trump said.
See Also: <a href="https://www.benzinga.com/news/24/11/41736493/microsoft-co-founder-bill-gates-says-everyone-in-future-will-have-a-utilitarian-ai-agent-that-will-h?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Microsoft Co-Founder Bill Gates Says Everyone In Future Will Have A &#8216;Utilitarian AI Agent&#8217; That Will Help</a>
Trump also addressed the criticism faced by Vance, his vice-presidential pick, for comments that were perceived as hostile to women. Despite the initial backlash, Trump praised Vance&#8217;s intellect and called him a &#8220;feisty guy.&#8221;
Trump also celebrated his party&#8217;s victory in the U.S. Senate, which he believes will aid in confirming his Cabinet members and nominating judges.
Trump asserted that he had won both the popular vote and an Electoral College landslide with over 300 votes, although the final counts are still pending in several states.
Trump also acknowledged the support of his family and campaign team, and when asked about Musk, he hailed the tech mogul as a &#8220;new star&#8221; and an &#8220;amazing guy.&#8221;
Why It Matters: On election night, <a href="https://www.benzinga.com/markets/equities/24/11/41763478/trump-media-reddit-devon-energy-super-micro-computer-and-tesla-buzzing-among-investors-on-electi">Trump&#8217;s media company</a>, Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>), experienced a substantial surge in its shares, driven by the anticipation of the election results and the company&#8217;s third-quarter financial results.
Trump&#8217;s victory in the 2024 presidential race, including his win in the key swing state of North Carolina, has been a significant factor in the stock market&#8217;s movements.
The <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41765518/5-things-moving-as-trump-trade-fever-sweeps-wall-street-amid-election-night-drama">stock futures also experienced a rise</a> on election night. Futures associated with the Dow Jones Industrial Average increased by 739 points, or 1.74%, as of 2 a.m. ET. Futures linked to the S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) were up by 1.42%.
Treasury yields also<a href="https://www.benzinga.com/news/24/11/41765345/treasury-yields-pop-on-trump-victory-chances-10-year-benchmark-reaches-4-month-high" target="_blank" rel="noreferrer noopener">&nbsp;saw an increase in overnight trading&nbsp;</a>as investors evaluated the early results of the tight presidential race. The 10-year Treasury yield jumped 14 basis points to 4.431%, hitting its highest level since July 2.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/11/41703265/haley-tells-pennsylvania-voters-to-put-emotion-aside-and-rally-behind-trump?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Haley Tells Pennsylvania Voters To Put Emotion Aside And Rally Behind Trump</a></li>
</ul>
Photo courtesy: Shutterstock

General

Trump Gives Victory Speech In Florida As Winning Pennsylvania Puts Him At Brink Of Victory, Vows To 'Fix Everything About Our Country'

Republicans have taken control of the U.S. Senate, following victories in West Virginia and Ohio on Tuesday. This shift ensures that Donald Trump&#8217;s party will control at least one chamber of Congress in the coming year.
Jim Justice (R &#8211; W.Va) was projected to win an open Senate seat in West Virginia, succeeding Joe Manchin (I-W.Va.), a Democrat-turned-independent. In Ohio, Bernie Moreno (R-Ohio) was projected to defeat incumbent Democrat Sherrod Brown (D- Ohio). These wins secure a 51-49 Republican majority in the Senate, with potential for further gains as additional results are tallied, Reuters reported on Wednesday.
See Also: <a href="https://www.benzinga.com/news/24/11/41710411/market-analyst-who-predicted-trumps-2016-win-and-bidens-2020-victory-now-sees-former-president-retak?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Market Analyst Who Predicted Trump&#8217;s 2016 Win And Biden&#8217;s 2020 Victory, Now Sees Former President Retaking The White House With &#8216;Large Majority Of Swing States&#8217;</a>
Republicans also made early gains in the House of Representatives, aiming to expand their 220-212 majority. They captured a Democratic-held district in Pennsylvania, President Joe Biden&#8217;s hometown of Scranton, and gained seats in North Carolina after redistricting. However, Democrats flipped a Republican seat in New York and another in Alabama, following a Supreme Court order to create a Black majority district.
In Delaware, Sarah McBride (D- Del.) made history as the first openly transgender member of Congress. Meanwhile, tight races in New York and California could determine the final House control, with results possibly delayed due to lengthy ballot counts in California.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/11/41733346/obamas-former-campaign-manager-alarmed-by-early-voting-numbers-as-harris-trump-fight-close-battle-re?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Obama&#8217;s Former Campaign Manager Alarmed By Early Voting Numbers As Harris-Trump Fight Close Battle: &#8216;Republicans Didn&#8217;t Do What They Did Last Time&#8217;</a></li>
</ul>
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Trump-Led Republicans Get Hold Of US Senate With West Virginia, Ohio Wins

The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, but the index remained in the &#8220;Fear&#8221; zone on Tuesday.
U.S. stocks settled higher on Monday, with the Dow Jones index gaining more than 400 points as investors awaited the results of the U.S. presidential election. The Federal Reserve is also scheduled to announce its November rate decision on Thursday.
On the economic data front, the trade deficit in the U.S. increased to $84.4 billion in September, recording the highest level since April 2022, and above market estimates of a $84.1 billion gap, versus a revised $70.8 billion gap in August. The ISM services PMI rose to 56 in October, recording the highest reading since Aug. 2022.
Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) posted downbeat results for its third quarter. Shares of Vimeo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VMEO#NASDAQ">VMEO</a>) jumped around 45% on Tuesday after the company reported better-than-expected third-quarter financial results and issued fourth-quarter sales guidance above estimates.
All sectors on the S&amp;P 500 closed on a positive note, with consumer discretionary, industrials, and utilities stocks recording the biggest gains on Tuesday.
The Dow Jones closed higher by around 427 points to 42,221.88 on Tuesday. The S&amp;P 500 gained 1.23% to 5,782.76, while the Nasdaq Composite jumped 1.43% to close at 18,439.17 during Tuesday's session.
Investors are awaiting earnings results from CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), Johnson Controls International plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JCI#NYSE">JCI</a>), and Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 43.5, the index remained in the &#8220;Fear&#8221; zone on Tuesday, versus a prior reading of 41.2.
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: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/41744659/jim-cramer-says-he-cant-recommend-this-major-automaker-ceva-is-way-too-high">Jim Cramer Says He Can&#8217;t Recommend This Major Automaker, Ceva Is &#8216;Way Too High&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

Earnings

Pre-Market Outlook

Trading Ideas

QCOM

VMEO

Dow, Nasdaq Jump Over 1% Ahead Of Election Results: Investor Sentiment Improves, But Greed Index Remains In 'Fear' Zone

Peoples Financial Servs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PFIS#NASDAQ">PFIS</a>) reported quarterly earnings of $1.64 per share which beat the analyst consensus estimate of $1.07 by 53.27 percent. The company reported quarterly sales of $44.966 million which beat the analyst consensus estimate of $37.000 million by 21.53 percent. This is a 80.09 percent increase over sales of $24.969 million the same period last year.

Earnings Beats

PFIS

Peoples Financial Servs Q3 2024 Adj. EPS $1.64 Beats $1.07 Estimate, Sales $44.966M Beat $37.000M Estimate

Benzinga Election Update: At the Watch Party, Donald Trump Calls Elon Musk By Name, Says, "A New Star Is Born"

Elon Musk reported that X, formerly known as Twitter, experienced a significant surge in activity during the U.S. elections. 
What Happened: In a post on Wednesday, Musk shared a chart illustrating hourly mobile usage in the U.S., which showed a dramatic increase starting at 5 a.m. and peaking at 6 billion seconds by 11 p.m. ET.
This increase in usage aligns with the heightened interest in the Presidential election. As of the latest updates, Donald Trump was leading with 248 electoral votes, while Kamala Harris was trailing with 214 votes. The target for either candidate is to achieve 270 electoral votes to secure the presidency.
<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">Record usage of this platform!! <a href="https://t.co/SfWyi9kBWd">pic.twitter.com/SfWyi9kBWd</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1854042843142373793?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/markets/asia/24/11/41722178/if-trump-and-republicans-sweep-dollar-may-climb-7-but-harris-win-could-bring-5-drop-says-jpmorgan?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">If Trump And Republicans Sweep, Dollar May Climb 7% — But Harris Win Could Bring 5% Drop, Says JPMorgan</a>
Why It Matters: The spike in activity on X during the election highlights the platform&#8217;s role in political discourse. Recently, Musk discussed the pressure he faced regarding the potential shutdown of X, comparing it to the challenges faced by Trump. During an appearance on Tucker Carlson's online show, Musk downplayed<a href="https://www.benzinga.com/news/24/11/41765113/elon-musk-tells-tucker-carlson-that-the-pressure-he-faced-for-shutting-down-x-pales-in-comparison-wi"> his own experiences</a>, emphasizing the greater difficulties encountered by Trump. This conversation took place on Election Day from Trump's Mar-a-Lago estate. 
Additionally, Musk has expressed intentions to expand his <a href="https://www.benzinga.com/news/24/11/41763360/elon-musk-is-already-eyeing-2026-midterms-plans-to-expand-pro-trump-pac-beyond-current-election-ther">pro-Trump super PAC</a> beyond the current election, with a focus on the 2026 midterms and local races. He suggested that a Trump victory would reflect a public desire for change, indicating a potential shift in the political landscape. Musk&#8217;s remarks came during a live session on X, where he noted, "I think there&#8217;s a sea change in the country." 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/11/41733899/trump-woos-muslim-voters-says-hes-building-the-biggest-and-broadest-peace-coalition-kamala-and-her-w?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Woos Muslim Voters, Says He&#8217;s &#8216;Building The Biggest And Broadest&#8217; Peace Coalition: &#8216;Kamala And Her&nbsp;Warmonger Cabinet Will Invade The Middle East&#8217;</a></li>
</ul>
Image via Shutterstock

Social Media

Elon Musk Says X Saw 'Record Usage' On Election Day As Trump Closes In On White House Win

With U.S. stock futures trading higher this morning on Wednesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) to report quarterly earnings at $1.53 per share on revenue of $92.75 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. CVS Health shares rose 0.7% to $55.70 in after-hours trading.</li>
<li>Globus Medical, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GMED#NYSE">GMED</a>) reported better-than-expected third-quarter financial results and issued FY24 guidance above estimates. The company reported quarterly earnings of 83 cents per share which beat the analyst consensus estimate of 65 cents per share. The company reported quarterly sales of $625.71 million which beat the analyst consensus estimate of $603.93 million. Globus Medical shares surged 10.3% to $83.35 in the after-hours trading session.</li>
<li>Analysts are expecting Johnson Controls International plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JCI#NYSE">JCI</a>) to post quarterly earnings at $1.2 per share on revenue of $7.17 billion. The company will release earnings before the markets open. Johnson Controls International shares rose 2.3% to $76.55 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) lowered its financial outlook. The company expects to report first-quarter revenue of $5.9 billion to $6 billion, down from its previous guidance range of $6 billion to $7 billion. The company anticipates adjusted earnings of 75 cents to 76 cents per share, versus its previous guidance of 67 cents to 83 cents per share. Super Micro Computer shares dipped 16% to $23.28 in the after-hours trading session.</li>
<li>Analysts expect Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) to report quarterly earnings at $2.56 per share on revenue of $9.9 billion after the closing bell. QUALCOMM shares gained 0.2% to $166.19 in after-hours trading.</li>
</ul>
Check This Out: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/41744659/jim-cramer-says-he-cant-recommend-this-major-automaker-ceva-is-way-too-high">Jim Cramer Says He Can&#8217;t Recommend This Major Automaker, Ceva Is &#8216;Way Too High&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

GMED

SMCI

CVS Health, Johnson Controls And 3 Stocks To Watch Heading Into Wednesday

Benzinga Election Update: AP Projects Trump With 267 Electoral Votes, Harris With 214 Electoral Votes, AP Calls Trump Win In Pennsylvania

<a href="https://www.youtube.com/watch?v=7Vn6dYEX2_s  " title="https://www.youtube.com/watch?v=7Vn6dYEX2_s  ">https://www.youtube.com/watch?v=7Vn6dYEX2_s&nbsp;&nbsp;</a>

Macro Economic Events

Econ #s

Economics

47th President Donald. J. Trump Speaks At Campaign Watch Party In Florida

EV startup Canoo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOEV#NASDAQ">GOEV</a>) appointed Kunal Bhalla as its Chief Financial Officer on Oct. 31, following the resignation of Greg Ethridge.
What Happened: Bhalla has been with Canoo since late 2020 and served in multiple roles. Before Canoo, he was an investment banker with Rothschild and Co. as a Director of M&amp;A focused on the Mobility Technology sector.
Ethridge&#8217;s resignation was not the sole one recently at Canoo. Hector Ruiz, General Counsel and Corporate Secretary of Canoo, also resigned from the startup on Oct. 31. The company subsequently chose Sean Yan as&nbsp;General Counsel.
Canoo also said that it will temporarily reduce its workforce in Oklahoma City by furloughing 23% of its factory workers for a period of twelve weeks.&nbsp;
Why It Matters: Canoo in September <a href="https://www.benzinga.com/news/24/08/40570834/ev-startup-canoo-follows-teslas-footsteps-to-move-headquarters-from-california-to-texas">named Justin, Texas</a> as its new company headquarters. The company then said that about 137 engineering positions will relocate from California to Texas and Oklahoma beginning in the fourth quarter of 2024 as part of the headquarters relocation.
Canoo&#8217;s finances have recently been under duress. For the <a href="https://www.benzinga.com/news/earnings/24/08/40380998/canoo-reports-q2-results-reduced-expenses-lower-cash-outflow">three months ending June</a>, Canoo reported a revenue of $605,000 and adjusted net loss per share of $0.61. The company had cash, cash equivalents, and restricted cash of just $19.1 million as of Jun. 30.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/news/24/11/41738613/elon-musk-rejects-rumors-of-a-tesla-phone-but-says-the-ev-giant-will-have-to-make-one-if-this-happen" target="_blank" rel="noreferrer noopener">Elon Musk Rejects Rumors Of A Tesla Phone, But Says The EV Giant Will Have To Make One If This Happens</a></li>
</ul>
Photo courtesy: Canoo

GOEV

EV Startup Canoo To Furlough 23% Factory Workers In Oklahoma City, CFO Departs

AVPT

Reported Earlier, AvePoint Unveils AI Lab In Singapore To Advance AI And Machine Learning In Data Management

Reported Earlier, HUTCHMED To Present Long-Term Data On Sovleplenib For Chronic ITP At 2024 ASH And ESMO Asia Congress

In connection with the private placement, the Company is planning to issue an aggregate of 2,137,850 units. Each unit will be sold at an effective unit price of $4.28 per unit and will consist of one share of common stock (or one pre-funded warrant in lieu thereof), two (2) Series A warrants, each exercisable for one share of common stock at an initial exercise price of $4.03 per share and one Series B warrant at an exercise price of $0.0001 to purchase such number of shares of common stock as will be determined on the Reset Date (as defined in the Series B warrant).&nbsp;
The closing of the private placement is expected to occur on or about November 6, 2024, subject to the satisfaction of certain customary closing conditions.

ZCAR

Zoomcar Prices $9.15M Private Placement To Advance Debt Repayment And Corporate Growth

As the U.S. presidential election hits a climax with former President Donald Trump taking the lead over Kamala Harris, these five key movements are happening across Wall Street.
Trump Media &amp; Technology Group Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>): The shares of Trump&#8217;s media company have experienced a significant surge fueled by both the anticipation of the election results and the company&#8217;s third-quarter financial results. Data from Nasdaq revealed that the after-hours trading volume for the stock was at 21.9 million, with the stock trading 10.43% higher at $37.48 on Tuesday during after-market hours.
Stock Futures: The stock futures also experienced a rise on election night. Futures associated with the Dow Jones Industrial Average increased by 739 points, or 1.74%, as of 2 a.m. ET. Futures linked to the S&amp;P 500 were up by 1.42%.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>): The anticipation of Trump&#8217;s return to White also boosted Bitcoin to surpass the 75,000 mark and reached 75,249.06 at the time of writing on Wednesday early morning.
See Also: <a href="https://www.benzinga.com/markets/equities/24/11/41703265/haley-tells-pennsylvania-voters-to-put-emotion-aside-and-rally-behind-trump?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Haley Tells Pennsylvania Voters To Put Emotion Aside And Rally Behind Trump</a>
Treasury Yields: Treasury yields also<a href="https://www.benzinga.com/news/24/11/41765345/treasury-yields-pop-on-trump-victory-chances-10-year-benchmark-reaches-4-month-high"> saw an increase in overnight trading </a>as investors evaluated the early results from the tight presidential race. The 10-year Treasury yield jumped 14 basis points to 4.431%, hitting its highest level since July 2. The yield on the 2-year Treasury was up by 8 basis points to 4.285%, reaching its highest level since July 31.
Dollar: The Bloomberg Dollar Spot Index rose sharply by 1.4%, marking its highest point in over three months. The U.S. dollar strengthened across the board against all G10 currencies, with notable increases of over 1% against both the euro and the yen.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/11/41710411/market-analyst-who-predicted-trumps-2016-win-and-bidens-2020-victory-now-sees-former-president-retak?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Market Analyst Who Predicted Trump&#8217;s 2016 Win And Biden&#8217;s 2020 Victory, Now Sees Former President Retakin</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Shutterstock

5 Things Moving As Trump Trade Fever Sweeps Wall Street Amid Election Night Drama

AudioCodes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AUDC#NASDAQ">AUDC</a>) reported quarterly earnings of $0.16 per share which missed the analyst consensus estimate of $0.23 by 30.43 percent. This is a 36 percent decrease over earnings of $0.25 per share from the same period last year. The company reported quarterly sales of $60.243 million which missed the analyst consensus estimate of $61.192 million by 1.55 percent. This is a 2.19 percent decrease over sales of $61.591 million the same period last year.

Earnings Misses

AUDC

AudioCodes Q3 2024 Adj. EPS $0.16 Misses $0.23 Estimate, Sales $60.243M Miss $61.192M Estimate

GMS Q1 2025 Earnings Preview

Here's the major earnings before the open tomorrow

GMS (GMS) just unveiled an update. GMS is set to present a slide presentation to its investors on August 29, 2024, which will also be utilized in f...

GMS Announces Upcoming Investor Presentation Event

Truist Financial analyst Keith Hughes maintained a Hold rating on GMS (GMS – Research Report) today and set a price target of $90.00. Keith Hughes ...

Hold Rating Maintained for GMS Amid Lowered EBITDA Forecasts and Persistent Market Challenges

GMS Inc. (GMS) Q1 2025 Earnings Call Transcript

Analyst Kurt Yinger of D.A. Davidson maintained a Buy rating on GMS (GMS – Research Report), retaining the price target of $97.00. Kurt Yinger has ...

Buy Rating on GMS: Temporary Setbacks Offset by Strong Future Outlook and Attractive Valuation

GMS (GMS – Research Report), the Industrials sector company, was revisited by a Wall Street analyst on August 29. Analyst David Manthey from Robert...

Buy Rating Affirmed on GMS Amidst Rate Cut Opportunities and Attractive Valuation

An update from GMS (GMS) is now available. GMS will be showcasing a slide presentation to investors on September 4, 2024, which may also be utilize...

GMS Investor Presentation Scheduled for September 2024

Analysts have been eager to weigh in on the Industrial Goods sector with new ratings on Regal Rexnord (RRX – Research Report) and GMS (GMS – Resear...

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