In a quiet week for economic data, Wall Street&#8217;s focus shifted to the possibility of witnessing a "Santa Rally," the seasonal tendency for stocks to rise in the <a href="https://www.benzinga.com/general/education/24/12/42675763/santa-rally-serial-winners-10-stocks-historically-poised-for-big-year-end-gains">final days of December. </a>



Historically, the S&amp;P 500 has gained 64 times in the past 96 years during the Dec. 24–Dec. 31 window, averaging a 0.85% return.



The market began the week attempting a recover from the Federal Reserve's hawkish signals of fewer rate cuts in 2024. Yet, renewed volatility resurfaced on Friday, casting doubt on the Santa rally's resilience.



Investors remain cautious, as markets weigh Fed policy outlook against uncertainty surrounding the incoming Trump administration's economic plans.



Still, 2024 is shaping up to be a banner year. The S&amp;P 500 is on track to match last year's 24% surge, setting up a two-year gain of 55%, the strongest since 1999. U.S. stocks are also outperforming global markets by the widest margin since 1997, driven by the enduring strength of U.S. economic fundamentals.



On the leaderboards, Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) has surged 360%, overtaking Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), last year's top performer, which gained 175% in 2024.



Consumer Confidence Slips



U.S. consumer confidence, as measured by the Conference Board, declined in December, highlighting rising concerns <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42657230/us-consumer-confidence-drops-in-december-expectations-signal-potential-economic-weakness-in-2025">about economic conditions</a>. A deeper drop in the expectations index, a key forward-looking measure, signals potential weakness in 2025 amid fears of persistent inflation and steady, high interest rates.



Tesla's Robotaxi Bet



Elon Musk envisions a Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&#8217;s robotaxi fleet allowing owners to earn $40,000 annually. Despite the bold prediction, experts question the feasibility of the technology and regulatory challenges, suggesting Musk's vision remains aspirational rather than immediately achievable <a href="https://www.benzinga.com/24/12/42642606/elon-musk-wants-to-raise-a-tesla-fleet-expert-estimates-vehicle-owners-can-make-40kyear-but-remains-doubtful">in the near term.</a>



Trump's Tariff Impact



Goldman Sachs projects the Trump administration will raise tariffs on Chinese imports, averaging a 20% hike, with higher rates for non-consumer goods. This could increase consumer prices by 1%-2%, strain industrial margins, disrupt supply chains and <a href="https://www.benzinga.com/government/regulations/24/12/42701155/made-in-china-paid-in-america-what-trumps-new-tariffs-mean-for-the-us-economy">ignite Chinese retaliatory measures,</a> the Wall Street firm says.



Cadillac EV Success



General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>)&#8217;s Cadillac Lyriq, priced at $60,000, became its best-selling EV in 2024 through the third quarter. The premium EV's success highlights a potential shift toward luxury electric vehicles as automakers target higher <a href="https://www.benzinga.com/tech/24/12/42666472/gms-60000-cadillac-lyriq-was-its-best-selling-ev-in-2024-as-of-q3-is-premium-the-way-to-go-for-ev-makers">margins and affluent buyers.</a>



Read now: 



<ul>
<li><a href="https://www.benzinga.com/general/biotech/24/12/42710358/veteran-investor-bets-big-on-sp-500-hitting-7000-by-end-of-2025-these-sectors-could-lead-the-charge">Veteran Investor Bets Big On S&amp;P 500 Hitting 7,000 By End Of 2025: These Sectors Could Lead The Charge</a></li>
</ul>



Photo by Marek Maskin on Shutterstock

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Wall Street's Santa Rally At Risk, Palantir Dethrones Nvidia, Consumer Confidence Pulls Back: This Week In The Markets

After a surge in betting on prediction markets for outcomes of events like the 2024 U.S. presidential election, the next market that is generating plenty of interest and concern from regulators is the outcome of the murder<a href="https://www.benzinga.com/24/12/42541669/luigi-mangione-faces-murder-first-degree-life-in-prison-in-ceo-death-a-senseless-act-of-violence"> trial of Luigi Mangione.</a>



What Happened: Mangione <a href="https://www.benzinga.com/24/12/42655562/luigi-mangione-suspected-ceo-assassin-pleads-not-guilty-in-new-york-court">recently pleaded not guilty</a> to New York state charges that include murder in the first degree of UnitedHealthcare CEO Brian Thompson.



Recently extradited from Pennsylvania to New York, Mangione also faces federal charges that could lead to a death penalty sentence if he is found guilty.



Mangione&#8217;s story has captured plenty of attention in America as evidence linked the killing of Thompson, who was CEO of the insurance company owned by UnitedHealth Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>), to Mangione allegedly<a href="https://www.benzinga.com/24/12/42605759/luigi-mangione-faces-death-penalty-details-show-attack-planned-for-months-the-target-is-insuranceit-checks-every-box"> targeting the health insurance sector</a> that he viewed as putting greed ahead of consumer health.



Ahead of Mangione's extradition and court hearings, people in the U.S. and around the world have been able to bet on the outcomes thanks to the rise of prediction markets.



Kalshi, which is regulated by the Commodity Futures Trading Commission, took wagers on several items beginning on Nov. 11 and bragged about the numerous markets on social media platform X.



Among the Kalshi markets: whether Mangione would be extradited, whether he would plead guilty, if he would be convicted, if he or a family member had insurance with UnitedHealthcare and whether he acted alone in the alleged murder of Thompson.



Kalshi <a href="https://kalshi.com/markets/kxuhcplea/luigi-guilty-plea">halted </a>the Mangione markets, but they can still be found on the website through a search. The markets are listed as "paused." Kalshi has put the blame for the halt in the hands of regulators, according to a report from <a href="https://www.bloomberg.com/news/articles/2024-12-27/bets-on-ceo-murder-suspect-s-fate-test-rules-on-event-contracts?sref=TBDibEcD">Bloomberg</a>.



The CFTC bans futures trading for war, terrorism and crimes like assassinations, according to the report.



Prediction market Polymarket has multiple <a href="https://polymarket.com/markets?_q=luigi+mangione">markets </a>open connected to the Mangione case, including whether a YouTube channel connected to him is real, if he was a lone actor, if he will fire his lawyer, whether his parents were UnitedHealthcare customers and if he used psychedelics.



Polymarket is not regulated in the United States. On Polymarket, users can deposit funds using USDC (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>) via the Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/matic/usd">MATIC</a>) network or can deposit directly from a crypto account with Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>).



BetUS, which is regulated in certain territories, is <a href="https://press.betus.com.pa/245601-betus-offers-odds-on-the-luigi-mangione-case">offering </a>betting odds on several Mangione-related outcomes like whether he will plead guilty before May 31, 2025. The betting odds are set at -350 for No and +225 for Yes. BetUS also said it will offer lines on whether Mangione used psychedelics and if he will fire his lawyer in 2025.



Read Also: <a href="https://www.benzinga.com/news/legal/24/12/42418763/unitedhealthcare-ceo-murder-suspect-chronic-pain-unabomber-fascination-isolation-details-emerge">UnitedHealthcare CEO Murder Suspect: Chronic Pain, Unabomber Fascination, Isolation Details Emerge</a>



Why It's Important: Mangione's case has led to plenty of support from the public due to hatred for the health insurance industry by some, an item<a href="https://www.benzinga.com/media/24/12/42473433/joe-rogan-on-public-sympathy-for-unitedhealthcare-ceo-murder-suspect-health-insurance-a-dirty-dirty-business"> touched on by</a> popular podcaster Joe Rogan. 



Supporters have shown up outside courtrooms with signs backing the alleged murderer. The mention of Mangione on a recent episode of "Saturday Night Live" led members of the audience to cheer at his name.



Prediction markets have risen in popularity thanks to the 2024 election and are able to offer markets quickly on a variety of topics and viral news stories.



When it comes to murder cases, there will likely be push back from regulators and members of the public who see a moral obligation to avoid profiting from bad actors. 



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/general/entertainment/24/12/42544499/luigi-mangione-documentaries-in-the-works-from-award-winning-creators-and-possibly-rapper-50-cent">Luigi Mangione Documentaries In The Works From Award-Winning Creators — And Possibly Rapper 50 Cent</a></li>
</ul>



Luigi Mangione photo courtesy of Pennsylvania State Police.

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Can You Bet On Luigi Mangione's Fate? Betting Platforms, Regulators Wrestle With Limits In Growing Market

Each week,&nbsp;Benzinga's Stock Whisper Index&nbsp;uses a combination of proprietary data and pattern recognition to showcase five stocks that are just under the&nbsp;<a href="https://www.benzinga.com/topic/stock-whisper-index" target="_blank" rel="noreferrer noopener">surface and deserve attention</a>.



Investors are constantly on the hunt for undervalued, under-followed and emerging stocks. With countless methods available to retail traders, the challenge often lies in sifting through the abundance of information to uncover new opportunities and understand why certain stocks should be of interest.



Read Also:&nbsp;<a href="https://www.benzinga.com/top-stories/24/11/41718416/exclusive-top-20-most-searched-tickers-on-benzinga-pro-in-october-2024-where-do-tesla-nvidia-apple-d" target="_blank" rel="noreferrer noopener">EXCLUSIVE: Top 20 Most-Searched Tickers On Benzinga Pro In October 2024 — Where Do Tesla, Nvidia, Apple, DJT Stock Rank?</a>



<h1 class="wp-block-heading">Here&#8217;s a look at the Benzinga Stock Whisper Index for the week ending Dec. 27:</h1>



SEALSQ Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAES#NASDAQ">LAES</a>): The microchip company linked to the quantum computing sector saw a surge of interest from Benzinga readers and in its share price over the last week. 



The company<a href="https://www.benzinga.com/24/12/42695244/sealsq-corp-shares-are-moving-higher-after-hours-whats-going-on"> announced Thursday </a>it received formal written notice from the Nasdaq for regained compliance for the minimum bid price for shares. SEALSQ previously received a letter in August with shares under $1. 



The company also <a href="https://www.benzinga.com/24/12/42686387/sealsq-launches-sealquantumcom-lab-to-help-businesses-transition-to-quantum-safe-encryption">announced the launch </a>of SEALQUANTUM.com Lab, which is designed to support the transition of quantum-safe encryption for companies.



"Our SEALQUANTUM.com Lab is more than just a platform, it's a commitment to future-proofing our clients' security," SEALSQ CEO Carlos Moreira said.



SEALSQ <a href="https://www.benzinga.com/general/social-media/24/12/42490690/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">previously appeared on</a> the Stock Whisper Index earlier this month with shares seeing a surge of interest from several drone-related partnerships. With interest in drones and quantum computing rising, SEALSQ could continue to see a spotlight from readers.



Here's a look at the five-day <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent122724&amp;t=be2bearmibe3na1">Benzinga Pro chart </a>of SEALSQ with shares up over 200%. The stock is up over 600% year-to-date in 2024.



<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent122724&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="995" height="506" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27120409/Screenshot-279.png" alt="" class="wp-image-709549" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27120409/Screenshot-279.png 995w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27120409/Screenshot-279-300x153.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27120409/Screenshot-279-768x391.png 768w" sizes="(max-width: 995px) 100vw, 995px" /></a></figure>



Rigetti Computing Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>): For a second straight week, quantum computing stocks are among the most searched and seeing the largest increase in interest from Benzinga readers. 



Rigetti Computing leads the way in interest, which comes as the company recently announced the launch of the 84-qubit Ankaa-3 quantum computer. The computer is offered through Rigetti Quantum Cloud Services and will be available on Microsoft Azure and Amazon Bracket in the first quarter of 2025. 



Rigetti also plans to launch a 36-qubit system by mid-2025 and to unveil a system exceeding 100 qubits by the end of 2025.



"We are extremely confident in our ability to deliver on our roadmap and performance goals," Rigetti CEO Dr. Subodh Kulkarni said.



Some investors, including Citron Research, remain skeptical after the large increase in valuation for quantum computing connected companies based on Google's recent quantum computing news.



"Buying $RGTI based on Google&#8217;s quantum success is as misguided as believing every TikTok guitarist is the next Taylor Swift," Citron Research tweeted.



Here's a look at Rigettti shares over the past five days with a gain of over 100%. The stock is up over 1,700% year-to-date.



<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent122724&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="997" height="505" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27120429/Screenshot-280.png" alt="" class="wp-image-709550" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27120429/Screenshot-280.png 997w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27120429/Screenshot-280-300x152.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27120429/Screenshot-280-768x389.png 768w" sizes="(max-width: 997px) 100vw, 997px" /></a></figure>



GameStop Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>): While GameStop stock doesn't fly under the radar much anymore these days, the stock saw a surge in interest during the week, likely due <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42679610/roaring-kittys-christmas-post-has-gamestop-rallying-7-in-overnight-trading-memecoin-connected-to-trader-also-surge">to a new tweet</a> from investor Roaring Kitty, aka Keith Gill.



On Christmas, Gill shared on X a picture of a present, the second tweet from the Roaring Kitty account in December following several months of silence. In the tweet on Dec. 5, the Roaring Kitty X account<a href="https://www.benzinga.com/general/social-media/24/12/42349100/gamestop-rockets-as-roaring-kitty-returns-to-x-what-does-his-tweet-signal-ahead-of-q3-earnings"> shared a TIME magazine cover</a> with a computer with a video screen. The video is paused at the 1:09 minute mark, which could point to Jan. 9 as a clue.



GameStop reported <a href="https://www.benzinga.com/general/gaming/24/12/42425015/gamestop-q3-earnings-revenue-miss-4b-cash-no-more-offerings-planned-in-fiscal-year">quarterly financial results </a>earlier this month and investors will have to wait months to hear about the holiday shopping season.



<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent122724&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="997" height="514" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27120446/Screenshot-281.png" alt="" class="wp-image-709551" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27120446/Screenshot-281.png 997w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27120446/Screenshot-281-300x155.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27120446/Screenshot-281-768x396.png 768w" sizes="(max-width: 997px) 100vw, 997px" /></a></figure>



Axon Enterprises (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXON#NASDAQ">AXON</a>): The weapons and cloud-based digital evidence company rejoins the Stock Whisper Index, marking two appearances over the past two months. 



The stock saw strong interest from readers as it <a href="https://www.benzinga.com/markets/24/12/42503776/weapon-maker-axon-shares-rise-in-monday-pre-market-whats-going-on">was recently added </a>to the Nasdaq-100 Index, which is tracked by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>). Launched in 1985, the Nasdaq-100 Index is a leading benchmark for non-financial companies listed on the Nasdaq. Axon, Palantir and MicroStrategy were the latest additions to the Nasdaq-100.



Axon's third-quarter revenue and earnings per share beat Street consensus estimates. The quarter continued a streak of consecutive quarters of beating analyst estimates, which now stands at 10 for both revenue and earnings per share. Axon also shared revenue guidance for the fourth quarter with an expected range of $560 million to $570 million, ahead of a Street estimate of $523 million.



Analysts&nbsp;<a href="https://www.benzinga.com/quote/AXON/analyst-ratings" target="_blank" rel="noreferrer noopener">raised price targets</a>&nbsp;on Axon after the recent third-quarter earnings and the 2024 election. Northland maintained an Outperform rating and raised the price target from $365 to $550, Needham maintained a Buy rating and raised the price target from $525 to $600 and Baird maintained an Outperform rating and raised the price target from $460 to $600.



<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent122724&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="995" height="502" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27120507/Screenshot-282.png" alt="" class="wp-image-709552" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27120507/Screenshot-282.png 995w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27120507/Screenshot-282-300x151.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27120507/Screenshot-282-768x387.png 768w" sizes="(max-width: 995px) 100vw, 995px" /></a></figure>



Comcast Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>): The media and cable company had a strong 2024 at the box office, which may be one reason why investors are paying more attention to the stock. 



Comcast had <a href="https://www.benzinga.com/24/12/42603589/disney-hits-2-billion-domestic-box-office-wins-top-honors-global-box-office-2025-to-grow-8-to-33b-analyst-says">three of the top 10</a> grossing movies domestically in 2024 with "Wicked," "Twisters" and "Kung Fu Panda 4" ranking third, eighth and tenth, respectively. "Wicked" has earned critical praise and was nominated for <a href="https://www.benzinga.com/general/entertainment/24/12/42395178/golden-globes-2025-nominations-netflix-scores-nods-for-emilia-perez-and-squid-game-comcast-lands-4-wicked-noms">multiple Golden Globe awards</a>. Comcast's Universal brand received an A- score from Variety for 2024 thanks to the movies in the top 10 and "The Wild Robot," which grossed over $300 million worldwide.



&#8220;Universal pulled off the seemingly impossible: Making musicals seem cool to moviegoers,&#8221; Variety writes of the success of &#8220;Wicked.&#8221;



Comcast reports fourth-quarter financial results on Jan. 30, which could provide a look at how the company's Peacock streaming platform and other segments are doing.<a href="https://www.benzinga.com/general/entertainment/24/12/42563662/streamers-max-paramount-won-november-heres-why-analyst-expects-netflix-amazon-to-win-december"> Recent data showed</a> November Peacock downloads up 31% month-over-month, which could be due to the platform premiere of "Twisters" and 2024 election day coverage.



The media company will likely highlight its 2025 slate of movies during the quarterly financial results, which includes "Jurassic World Rebirth" and "Wicked: For Good."



<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent122724&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="995" height="502" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27120523/Screenshot-283.png" alt="" class="wp-image-709553" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27120523/Screenshot-283.png 995w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27120523/Screenshot-283-300x151.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27120523/Screenshot-283-768x387.png 768w" sizes="(max-width: 995px) 100vw, 995px" /></a></figure>



Stay tuned for next week's report, and follow Benzinga Pro for all the latest headlines and&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent122724&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">top market-moving stories here.</a>



Read the latest Stock Whisper Index reports here:



<ul>
<li><a href="https://www.benzinga.com/general/biotech/24/12/42366750/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet" target="_blank" rel="noreferrer noopener">December 6</a></li>



<li><a href="https://www.benzinga.com/general/social-media/24/12/42490690/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet" target="_blank" rel="noreferrer noopener">December 13</a></li>



<li><a href="https://www.benzinga.com/trading-ideas/24/12/42628286/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-including-qubt-qbts">December 20</a></li>
</ul>



Read Next: 



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<li><a href="https://www.benzinga.com/markets/equities/24/12/42638753/quantum-computing-the-new-ai-a-look-at-the-rapidly-expanding-market-and-top-stocks-for-2025">Quantum Computing: The New AI? A Look at the Rapidly Expanding Market and Top Stocks For 2025</a></li>
</ul>

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Benzinga's 'Stock Whisper' Index: 5 Stocks Investors Secretly Monitor But Don't Talk About Yet

In 2024, the cannabis landscape in the United States experienced some developments, though federal legalization or removal from the <a href="https://www.benzinga.com/topic/controlled-substances-act">Controlled Substances Act</a> (CSA) did not occur under the Biden administration, though that was <a href="https://www.benzinga.com/markets/cannabis/24/11/41752800/kamala-harris-promises-to-legalize-recreational-marijuana-in-groundbreaking-instagram-post">promised to voters</a> on a regular basis.



&#8220;No one should be in jail for cannabis possession&#8221; was the refrain repeated by President <a href="https://www.benzinga.com/topic/joe-biden">Joe Biden</a>, beginning with his March 2024 <a href="https://www.benzinga.com/markets/cannabis/24/03/37552483/biden-calls-for-cannabis-reform-in-state-of-the-union-a-historic-first-no-one-should-be-jailed-f">State of the Union</a> — the first time marijuana was ever mentioned in such an illustrious political setting — all the way up to his mid-December 2024 <a href="https://www.benzinga.com/news/legal/24/12/42466804/biden-commutes-1500-sentences-grants-39-pardons-pot-prisoners-included-marks-single-day-record?adt_ei=%7b%7bemail%7d%7d&amp;he=%7b%7bemail%7d%7d">commutation of 1500 people</a> including a relatively small number of cannabis offenders.



<h2 class="wp-block-heading">Federal Rescheduling? Delay And More Delay</h2>



The Drug Enforcement Administration (DEA) <a href="https://www.benzinga.com/markets/cannabis/24/05/38920897/infographic-deas-proposed-rules-for-marijuana-what-you-need-to-know">initiated a review </a>to reclassify cannabis from a Schedule I to a Schedule III substance under the CSA. This move, following the August 2023 Biden-directed <a href="https://www.benzinga.com/markets/cannabis/23/08/34126690/hhs-secretary-confirms-it-is-recommending-cannabis-be-rescheduled-per-bidens-directive">recommendations</a> from the Department of Health and Human Services, could have represented a historic shift in federal cannabis policy. But alas, it was never finalized. The move would have alleviated challenges related to taxation and research restrictions faced by the industry under the ongoing federal restrictions.



<h2 class="wp-block-heading">Congress, Where Are You?</h2>



Rep. <a href="https://www.benzinga.com/topic/earl-blumenauer">Earl Blumenauer</a> (D-OR), longtime cannabis reform advocate, said in a mid-December <a href="https://www.c-span.org/clip/public-affairs-event/user-clip-blumenauer-exit-interview-cannabis-legacy/5147106">C-Span interview</a> that Congress seems to be "trapped in time."



"My work on cannabis legalization and working to end the failed war on drugs is one of my greatest areas of satisfaction and one of my greatest disappointments," said Blumenauer who has been involved in cannabis reform since 1973 when he was an Oregon state legislator.



The incoming GOP-led Congress, at least so far, has not prioritized cannabis reform, thus diminishing prospects for supportive legislation.



Read Also: <a href="https://www.benzinga.com/news/legal/24/12/42704814/guns-and-cannabis-dont-mix-in-kentucky-medical-marijuana-law-takes-effect-on-new-years-day">Guns And Cannabis Don&#8217;t Mix In Kentucky: Medical Marijuana Law Takes Effect On New Year&#8217;s Day</a>



<h2 class="wp-block-heading">But There Were State-Level Legalization Initiatives</h2>



Several states presented cannabis-related measures during the November 2024 elections with mixed outcomes.



<ul>
<li>Nebraska: Voters <a href="https://www.benzinga.com/markets/cannabis/24/11/41764503/nebraska-says-yes-to-medical-cannabis-after-years-of-failed-legalization-attempts-heres-what-you">approved the legalization of medical cannabis</a>, marking a significant policy change in a state where cannabis was previously entirely illegal.</li>



<li>Florida: A well-funded campaign to legalize recreational marijuana <a href="https://www.benzinga.com/markets/cannabis/24/11/41763514/florida-rejects-cannabis-legalization-amendment-supported-by-trump-detested-by-desantis">failed to achieve</a> the required 60% supermajority, despite substantial financial backing and public support.</li>



<li>North Dakota and South Dakota: Both states <a href="https://www.benzinga.com/markets/cannabis/24/11/41765421/south-dakota-rejects-measure-29-cannabis-legalization-fails-again">rejected measures</a> to legalize recreational marijuana, reflecting ongoing resistance in certain regions.</li>
</ul>



<h2 class="wp-block-heading">How Did Market Dynamics Fair?</h2>



The cannabis market faced economic challenges throughout 2024, with many U.S. and Canadian companies experiencing significant <a href="https://www.benzinga.com/markets/cannabis/24/11/41793174/cannabis-stocks-collapse-after-trump-win-major-players-see-double-digit-declines-at-wednesdays-c">stock price declines</a>. Factors contributing to this downturn included regulatory uncertainties, taxation issues and competition from rampant illicit markets. 



Notably, AdvisorShares Pure US Cannabis ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSOS#NYSE">MSOS</a>) experienced a challenging 2024, with its stock price declining by approximately 48%, <a href="https://www.benzinga.com/quote/MSOS">noted</a> Benzinga PRO, indicating broader market struggles including the aforementioned regulatory challenges.



<h2 class="wp-block-heading">Public Perception And Usage – Some Positive News</h2>



Marijuana&#8217;s popularity continued to rise, with daily users in the U.S. <a href="https://www.benzinga.com/markets/cannabis/24/05/38976556/daily-cannabis-consumption-outpaces-daily-alcohol-use-in-the-us-for-the-first-time-new-study-sho">surpassing alcohol consumers</a>. 



This shift is attributed to changing legal statuses, increased public awareness of marijuana&#8217;s health benefits and the general acceptance of marijuana as a benign substance, the consumption of which has never resulted in any reported deaths. 



Now we just need a bit more support for rescheduling and maybe even legalization.



Now Read: 



<ul>
<li><a href="https://www.benzinga.com/24/12/42690082/trump-is-first-republican-president-with-a-pathway-to-cannabis-reform-says-former-adviser">Trump Is First &#8216;Republican President&#8217; With A Pathway To Cannabis Reform, Says Former Adviser</a></li>
</ul>



Image: Shutterstock

Cannabis

Sector ETFs

Politics

Markets

MSOS

Cannabis Reform 2024: The Year Of All Talk And No Action

Veteran Wall Street investor Ed Yardeni is doubling down on one of the Street's most optimistic forecasts, projecting the S&amp;P 500 to hit 7,000 by <a href="https://www.benzinga.com/markets">the end of 2025. </a>



In a Friday newsletter, Yardeni reinforced his bullish outlook, positioning himself at the forefront of high-stakes predictions for the index's 2025 gains.



&#8220;We&#8217;ve been bullish on the stock market since October 2022. We remain bullish, targeting 7000 on the S&amp;P 500 by the end of next year. That puts us near the head of the pack,&#8221; he said. 



Oppenheimer sets its sights on an even loftier 7,100, while major investment bank firms, including Goldman Sachs, JPMorgan, and Morgan Stanley, hover around 6,500.



But will the market's stars align or are we looking at overly rosy predictions?



<h3 class="wp-block-heading">Top 10 Wall Street&#8217;s 2025 Year-End S&amp;P 500 Predictions</h3>



<figure class="wp-block-table is-style-stripes"><table><tbody><tr><td>Oppenheimer</td><td>7,100</td></tr><tr><td>Wells Fargo</td><td>7,007</td></tr><tr><td>Yardeni Research</td><td>7,000</td></tr><tr><td>Deutsche Bank</td><td>7,000</td></tr><tr><td>Societe Generale</td><td>6,750</td></tr><tr><td>BMO</td><td>6,700</td></tr><tr><td>HSBC</td><td>6,700</td></tr><tr><td>Bank of America</td><td>6,666</td></tr><tr><td>Scotiabank</td><td>6,650</td></tr><tr><td>Barclays</td><td>6,660</td></tr></tbody></table><figcaption class="wp-element-caption">Source: Yardeni Research, as of Dec. 27, 2024</figcaption></figure>



<h3 class="wp-block-heading">Yardeni's Roaring 2020s Scenario</h3>



Yardeni's optimism stems from a &#8220;Roaring 2020s&#8221; scenario fueled by productivity gains, GDP growth of 3.0%-3.5%, and inflation cooling near 2.5%.



Earlier in November, he issued a bold prediction: the S&amp;P 500 – as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) – could climb to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41917731/wall-street-veteran-predicts-sp-500-to-hit-10000-by-2029-roaring-2020s">10,000 by the end of the decade</a>, buoyed by Donald Trump&#8216;s return to the presidency.



"We believe Trump 2.0 represents a major regime change that&#8217;s bullish for the economy and stocks," Yardeni said. 



Hr also anticipated a significant boost to corporate profit margins, driven by the proposed reduction in the corporate tax rate from 21% to 15%, coupled with tax breaks on individual income from tips, overtime and Social Security.



While much of the recent earnings growth has been dominated by the tech sector's "Magnificent 7," Yardeni foresees a broader rally on the horizon. 



"We expect to see a broadening of the companies and industries for which analysts raise their sights in 2025," he said.



<h3 class="wp-block-heading">Earnings: The Backbone Of The Rally</h3>



Yardeni forecasts operating earnings per share (EPS) for the S&amp;P 500 to hit $285 in 2025 &#8211; an 18.8% year-over-year jump, far above the Street&#8217;s consensus of $270. 



&#8220;We're leading the pack on EPS outlook," Yardeni stated, attributing the growth to a record profit margin of 13.9% and rising revenues per share, which are projected to climb 5.1% to $2,050.



Wall Street analysts expect robust earnings growth of 14.3% for 2025, up from the estimated 10% for 2024. 



<h3 class="wp-block-heading">Sector Winners And Losers: Tech Takes Retains The Crown</h3>



Tech continues to dominate, with the Information Technology sector predicted to post EPS growth of 21.7% in 2025, up from 20.4% in 2024, according to consensus estimates. 



Analysts also expect a rebound in Health Care, with EPS growth accelerating from 5.0% this year to 20.1% in 2025. Pharmaceuticals and Biotechnology are key drivers, with EPS expected to soar 33.1% and 30.9%, respectively.



The Materials sector is gearing up for a strong rebound, expected to shift from an 8.2% EPS decline in 2024 to an impressive 18.3% growth in 2025. 



Similarly, Industrials are set to thrive, fueled by Boeing's return to profitability and surging growth in key industries such as Copper, projected to rise by 37.6%, Commodity Chemicals by 33.1% and Construction Materials by 24.8%.



Read now: 



<ul>
<li><a href="https://www.benzinga.com/24/12/42658817/5-semiconductor-stocks-wall-street-analysts-predict-could-soar-in-2025">5 Semiconductor Stocks Wall Street Analysts Predict Could Soar In 2025</a></li>
</ul>



Image generated using AI Via Midjourney

Biotech

Health Care

Price Target

Veteran Investor Bets Big On S&P 500 Hitting 7,000 By End Of 2025: These Sectors Could Lead The Charge

Wall Street turned volatile Friday as four days of gains give way to fresh selling pressure driven by investor uncertainty over the incoming Trump administration&#8217;s economic policies and the <a href="https://www.benzinga.com/topic/federal-reserve">Federal Reserve&#8217;s path forward.</a>



Major indices experienced wide losses by midday trading in New York, nearly erasing prior gains seen earlier this week, clouding the outlook for a Santa Rally.



The tech-heavy Nasdaq 100 tumbled 2%, on track for its second-worst session this month. Both the S&amp;P 500 and the Dow saw notable losses, while small caps underperformed large-cap counterparts.



On the data front, the U.S. goods trade deficit widened to $102.86 billion in November 2024, surpassing expectations of $100.7 billion, as imports jumped 4.5%, according to an advance official estimate.



Treasury yields were little moved but remained elevated, with the long-dated 30-year yield hovering at the highest levels since May. 



In commodities markets, oil emerged by rising 1%, with West Texas Intermediate light crude topping $70 per barrel amid recent declines in in commercial crude inventories.



In cryptocurrency markets Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) dropped 1.7% to $94,000, heading for its second consecutive weekly loss— the first since September.



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



<figure class="wp-block-table is-style-stripes"><table><tbody><tr><td>Major Indices</td><td>Price</td><td>Chg</td><td>1-day %</td></tr><tr><td>Dow Jones</td><td>42,739.03</td><td>-586.77</td><td>-1.4%</td></tr><tr><td>S&amp;P 500</td><td>5,934.68</td><td>-102.91</td><td>-1.7%</td></tr><tr><td>Nasdaq 100</td><td>21,326.63</td><td>-441.68</td><td>-2.0%</td></tr><tr><td>Russell 2000</td><td>2,226.71</td><td>-53.48</td><td>-2.3%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated at 12:15 p.m. ET</figcaption></figure>



According to&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent122324&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:



<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 1.6% to $591.61.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;eased 1.2% to $427.96.</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>) tumbled 2.1% to $518.58.</li>



<li>The&nbsp;iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 2.3% to $220.55.</li>



<li>The&nbsp;Energy Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, flat for the day; the&nbsp;Technology Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, down 2.4%.</li>
</ul>



<h3 class="wp-block-heading">Friday Stock Movers</h3>



<ul>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) sank 4.8% as investors reassessed its valuation after a 73% year-to-date surge.</li>



<li>Crypto-related stocks pulled back strongly: KULR Technology Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KULR#NYSE">KULR</a>) tumbled 7.4%, MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) slipped 3.6% and Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) fell 3.5%. </li>



<li>Lamb Weston Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LW#NYSE">LW</a>) gained 3.6% after shareholder Jana Partners added Jeff Delapp to its board nominee slate, signaling a potential board overhaul, according to a Friday regulatory filing.</li>
</ul>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/general/travel/24/12/42705878/airline-stocks-outperform-tech-in-2024-holiday-travel-expected-to-see-records-this-year">Airline Stocks Outperform Tech In 2024: Holiday Travel &#8216;Expected To See Records This Year&#8217;</a></li>
</ul>



Photo via Shutterstock.

Bonds

Movers

$BTC

COIN

KULR

MSTR

Stocks Tumble As Traders Rethink Santa Rally, Crude Tops $70, Bitcoin Slips To $94,000: What's Driving Markets Friday?

ExxonMobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) may be pumping out oil, but its stock chart has <a href="https://www.benzinga.com/topic/oil">hit a dry spell</a>. 



What Happened: ExxonMobil stock is about to <a href="https://www.benzinga.com/topic/death-cross">form a death cross</a> — a bearish technical indicator where the 50-day moving average falls below the 200-day moving average.



<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent122724&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="812" height="556" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27113518/XOM-Death-Cross.jpg" alt="" class="wp-image-709491" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27113518/XOM-Death-Cross.jpg 812w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27113518/XOM-Death-Cross-300x205.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27113518/XOM-Death-Cross-768x526.jpg 768w" sizes="(max-width: 812px) 100vw, 812px" /></a></figure>



<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent122724&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>



<h2 class="wp-block-heading">A Slippery Slope For XOM Stock</h2>



The numbers don't lie: Exxon's stock price of $106.49 is firmly below its 20-day ($111.37), 50-day ($116.32), and 200-day ($116.24) simple moving averages. 



The Moving Average Convergence Divergence (MACD) indicator at a negative 2.89 screams bearish, while a Relative Strength Index (RSI) of 23.54 suggests the stock is oversold.



For optimists, the oversold RSI could hint at a potential rebound. But with the broader trend signaling bearish momentum, a quick turnaround might require more than geopolitical jitters or OPEC decisions.



<h2 class="wp-block-heading">Europe: No Love Lost For Exxon</h2>



Exxon's President for Europe, Philippe Ducom, didn't mince words when he<a href="https://fortune.com/2024/12/27/the-crisis-that-explains-why-exxon-is-ignoring-europe/"> labeled</a> Europe's competitiveness as being "in a crisis." With decarbonization investments largely bypassing Europe in favor of U.S. projects, the company is focusing on regions with fewer regulatory hurdles.



Despite investing $20 billion globally in clean energy initiatives by 2027, Exxon isn't planning a major European pivot. Instead, its future bets are in places like Texas, where clean hydrogen and lithium projects are underway.



<h2 class="wp-block-heading">Exploring New Frontiers</h2>



Exxon's exploration efforts continue in Guyana's Stabroek Block, with the Haimara-3 well appraising its 2019 gas discovery. While oil remains a priority, the company is increasingly evaluating the potential for standalone gas development in Guyana, potentially setting the stage for new revenue streams in 2025.



<h2 class="wp-block-heading">Outlook: Drilling For Optimism?</h2>



ExxonMobil's death cross doesn't mean it's game over, but the bearish signals are piling up. With regulatory challenges in Europe and volatile oil prices, XOM stock faces strong headwinds.



Investors hoping for a bounce might want to watch geopolitical developments and the company's U.S. clean energy plays closely.



Now Read:



<ul>
<li><a href="https://www.benzinga.com/top-stories/24/12/42706002/warren-buffett-said-selling-disney-was-a-huge-mistake-legendary-investor-should-have-been-buying">Warren Buffett Invested $4 Million In Disney Back In 1966, Says Exit &#8216;Was A Huge Mistake</a></li>
</ul>



Image: Shutterstock

Long Ideas

Technicals

Commodities

Signals

ExxonMobil Stock Navigates Death Cross: Market Signals Turn Bearish For Oil Giant

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is trading down 1.6% to $94,300 on Friday as the crypto community awaits the return of more liquid trading sessions at <a href="https://www.benzinga.com/money/bitcoin-price-prediction">the start of 2025</a>.



What Happened: With Bitcoin prices dropping, crypto trader Altcoin Sherpa predicts &#8220;some weird price action&#8221; over the upcoming few weeks ,"with despair followed by an absolute moon mission and killer alt season." 



<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> still wouldn&#39;t surprise me to see this type of move. Some weird price action over the next few weeks with despair followed by an absolute moon mission and killer alt season. I&#39;m still max long fwiw <a href="https://t.co/Aw0jnoPcTi">pic.twitter.com/Aw0jnoPcTi</a>&mdash; Altcoin Sherpa (@AltcoinSherpa) <a href="https://twitter.com/AltcoinSherpa/status/1872337420475343056?ref_src=twsrc%5Etfw">December 26, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Castillo Trading cautions traders that holiday trading is usually slow, and it should not be mistaken for market weakness. He <a href="https://x.com/CastilloTrading/status/1872329049672233069">added</a> that many people are waiting for Bitcoin to drop to $84,000 to $85,000.



CoinDesk senior analyst James Van Straten noted that Bitfinex whales are a great indicator of Bitcoin price movements. During the November run-up, whales offloaded 20,000 BTC. He is yet to add to any of his long positions since Bitcoin has dropped from $108,000.



<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">Bitfinex whales have been a great indicator of <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> price movements. Whales offloaded 20k <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> during the run up in November. Have yet to add to any longs since <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> has fallen from $108k. <a href="https://t.co/8SF3SzLkTQ">pic.twitter.com/8SF3SzLkTQ</a>&mdash; James Van Straten (@btcjvs) <a href="https://twitter.com/btcjvs/status/1872293199085293635?ref_src=twsrc%5Etfw">December 26, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42701686/bitcoin-could-slide-to-60000-technical-analyst-warns">Bitcoin Could Slide To $60,000, Technical Analyst Warns</a>



Why It Matters: Crypto market capital inflows having been&nbsp;<a href="https://x.com/ali_charts/status/1872347395628912806">decline</a>&nbsp;since Dec. 10, dropping from $134 billion to $100 billion currently.



IntoTheBlock data shows large transaction volume increased by 31.6% and daily active addresses relatively flat at -0.04%. Transactions greater than $100,000 are up from 7,853 to 8,785 in a single day. Exchanges netflows are down by 451.9%.



Coinglass data reports 93,769 traders were liquidated for $235.55 million over the past 24 hours.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42698826/bitcoin-options-worth-over-14-billion-expired-today-one-of-the-biggest-events-in-history-heres-what-crypto-investors-should-expect">Bitcoin Options Worth Over $14 Billion Expired Today, One Of The Biggest Events In History: Here&#8217;s What Crypto Investors Should Expect</a></li>
</ul>



Image: Shutterstock

Cryptocurrency

Bitcoin Retreats Below $95,000: What Is Going On With BTC?

Throughout 2024, certain small-cap gems in<a href="https://www.benzinga.com/topic/russell-2000"> the Russell 2000</a> soared past expectations and gained over 1,000% year-to-date.



Using a methodology focused on high-trading-volume tech stocks with &#8220;buy&#8221; ratings or better, Benzinga identified three winners.



Analysts still see room to run — here's why.



<h2 class="wp-block-heading">1. Rigetti Computing: YTD Gain — 1,578%</h2>



Quantum computing isn't just a buzzword — it's becoming big business. Rigetti Computing Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>) is leading the charge, with its Quantum Cloud Services (QCS) platform and innovative quantum processors.



Why the surge? Rigetti's picks-and-shovels business model positions it as the backbone of quantum computing. Its cloud platform integrates seamlessly with traditional hardware, making quantum power more accessible. Analysts liken Rigetti to an early-stage Nvidia, and with its strong cash position, the company seems primed for further innovation.



Caveat: Revenue is still modest ($2.4 million in the third quarter of 2024) and losses remain steep. But if Rigetti can crack the code on scaling quantum tech, the potential payoff could be massive.



<h2 class="wp-block-heading">2. D-Wave Quantum: YTD Gain — 1,107%</h2>



D-Wave Quantum Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QBTS#NYSE">QBTS</a>) is redefining problem-solving with its Quantum Computing as a Service (QCaaS) model. Its annealing quantum computers, capable of solving logistical and financial optimization problems, have captured investor interest.



The appeal lies in D-Wave's focus on real-world applications, from supply chain optimization to drug discovery. Its cloud-based tools make quantum computing accessible, while collaborations with major industries hint at a bright future.



Challenges? Like its peers, D-Wave's revenue ($9.4 million) pales compared to its operating losses ($74 million). Yet, the stock's meteoric rise reflects growing confidence in the transformative potential of its tech.



Read Also: <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42672335/whats-going-on-with-soundhound-ai-stock-9">What&#8217;s Going On With SoundHound AI Stock?</a>



<h2 class="wp-block-heading">3. SoundHound AI: YTD Gain — 1,064%</h2>



SoundHound AI Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOUN#NASDAQ">SOUN</a>) is riding the AI wave, with a 89% revenue increase in the third quarter of 2024. Its secret sauce? Partnerships like one with Apivia Courtage, where its AI tools have revolutionized customer interactions by reducing direct inquiries by 20%.



The company is expanding into healthcare, retail, and finance, aiming to cement its role in conversational AI. With analysts setting ambitious price targets, SoundHound is proving there's plenty of room left in the AI market.



<h2 class="wp-block-heading">Stocks To Watch</h2>



From quantum computing to conversational AI, these three stocks have delivered jaw-dropping returns in 2024. While risks abound in these nascent industries, their explosive potential makes them ones to watch. 



Whether you're a tech enthusiast or an investor seeking the next big thing, the future of these companies — and their stock prices — could be truly transformative.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/12/42638753/quantum-computing-the-new-ai-a-look-at-the-rapidly-expanding-market-and-top-stocks-for-2025">Quantum Computing: The New AI? A Look at the Rapidly Expanding Market and Top Stocks For 2025</a></li>
</ul>



Image: Shutterstock

Small Cap Analysis

Small Cap

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3 Russell 2000 Tech Stocks That Skyrocketed 1,000% Or More In 2024: Analysts Say They're Just Getting Started

Goldman Sachs analyst Elsie Peng projects that the incoming Trump administration will sharply increase <a href="https://www.benzinga.com/topic/china">tariffs on Chinese imports</a>. 



Average rates will likely rise by 20 percentage points, with larger hikes of up to 60 percentage points on non-consumer goods, Peng says. 



These changes could send ripple effects across the U.S. economy, from consumer prices to industrial production.



See Also: <a href="https://www.benzinga.com/markets/futures/24/12/42699993/us-stocks-to-open-lower-as-index-future-decline-analysts-remain-upbeat-about-santa-rally">US Stocks To Open Lower As Index Future Decline: Analysts Remain Upbeat About Santa Rally</a>



<h3 class="wp-block-heading">Consumer Prices: How Much Will They Rise?</h3>



"We expect the second Trump administration to increase tariff rates on imports from China by around 20pp on average," said Peng. "Tariffs will likely rise more sharply on non-consumer goods than on consumer goods."



Tariff increases will likely translate into price hikes on goods where the U.S. remains heavily reliant on Chinese producers. Today, China accounts for 11% of total U.S. imports — a drop from 18% before Trump's first term — but for certain categories, the dependence is much greater.



Durable household items such as appliances, along with consumer electronics and footwear, are among the most exposed. Chinese imports make up 24% of the U.S. market for appliances and as much as 39% for consumer electronics like telephones. Footwear and clothing also remain heavily reliant on China, with import shares ranging between 10% and 30%.



Goldman Sachs estimates that fully passing the cost of higher tariffs to consumers could raise the prices of Chinese-origin goods by 2%-10%.



&#8220;The US still relies heavily on China for many consumer products,&#8221; Peng said. 



The investment bank predicts the average consumer prices for these items, regardless of origin, could rise by 1% to 2%.



<h3 class="wp-block-heading">Thin Margins Could Mean Big Trouble For US Producers</h3>



On the production side, manufacturers will likely face increased costs due to tariffs on Chinese-origin inputs. While most industries are only modestly exposed — Chinese inputs account for less than 3% of total inputs in most sectors — certain industries could feel the pinch.



For machine tools, auto bodies, furniture and textiles, tariff-related cost increases could represent 10%-30% of operating surplus. Even industries with relatively small tariff-related cost increases, such as a 0.5%-0.7% bump in final output costs, could find their margins squeezed.



Some sectors face an even bigger challenge: over 70% of the U.S.'s imports of rare earths, natural graphite and antimony oxides are sourced from China. These materials are critical for the production of batteries, magnets, semiconductors and other components used in the auto, electronics and defense industries. Peng warned that finding alternatives will be difficult in the near term, leaving these industries vulnerable to supply chain disruptions.



"Export restrictions by China could limit U.S. producers' access to critical raw materials," Peng said. "Some materials cannot be easily substituted or sourced elsewhere in sufficient size."



<h3 class="wp-block-heading">Retaliation Risk For US Exporters</h3>



China is likely to respond to higher tariffs with retaliatory measures, which could spell trouble for U.S. exporters. Agricultural products are particularly exposed.



"More than 80% of U.S. wood, cereals, and animal product exports go to China, as do more than 50% of soybeans — the U.S.'s largest export to China — and nearly 20% of autos," Peng said.



China could impose retaliatory tariffs or reduce imports from the U.S. As a result, agricultural producers and automakers could face declining demand and increased competition in global markets.



This could exacerbate existing pressures in industries that have already dealt with years of volatility.



<h3 class="wp-block-heading">Bottom Line: US Consumers, Businesses Brace For Higher Costs</h3>



For U.S. businesses, this means shifting production to other countries or suppliers won't happen overnight. For consumers, it means price increases on Chinese goods will be difficult to avoid.



For businesses, navigating higher costs and potential supply chain disruptions will be key to maintaining profitability. For consumers, expect the next phone, appliance or pair of sneakers to come with a slightly higher price tag.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42699729/ark-invests-cathie-wood-urges-trumps-incoming-administration-to-implement-retroactive-tax-cuts-for-economic-boost-from-january-1">Ark Invest&#8217;s Cathie Wood Urges Trump&#8217;s Incoming Administration To Implement Retroactive Tax Cuts For Economic Boost From January 1</a></li>
</ul>



Image: Shutterstock

Asia

Global

Made In China, Paid In America: What Trump's New Tariffs Mean For The US Economy

Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) could be headed for <a href="https://www.benzinga.com/money/bitcoin-price-prediction">a potential downturn</a>, according to a technical analyst citing on-chain data and expert analysis.



What Happened: In a post on X on Dec. 26, Ali Martinez highlighted predictions from renowned analysts about a possible correction to $60,000. Here are the key perspectives:



<ul>
<li>Tone Vays: The former Wall Street quant suggests Bitcoin trading below $95,000 raises the probability of a pullback to $73,000, calling it "very, very bad."</li>



<li>Peter Brandt: The veteran trader sees a breakdown of Bitcoin&#8217;s "broadening triangle" pattern, potentially leading to a retracement toward $70,000.</li>
</ul>



<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">Likewise, <a href="https://twitter.com/PeterLBrandt?ref_src=twsrc%5Etfw">@PeterLBrandt</a> said that <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> could be about to break down of a &quot;broadening triangle,&quot; which projects a retracement toward the $70,000 zone. <a href="https://t.co/QAVqL4AbpT">https://t.co/QAVqL4AbpT</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1872271692917268925?ref_src=twsrc%5Etfw">December 26, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<ul>
<li>Fundstrat&#8217;s Mark Newton: While Fundstrat expects Bitcoin to hit $250,000 by 2025, Newton predicts a downswing to $60,000 in the short term.</li>



<li>Benjamin Cowen: The industry expert suggests Bitcoin's trajectory might mirror that of the Invesco QQQ Trust. If so, a flash crash to $60,000 could align with significant macro events, such as the inauguration of president-elect Donald Trump.</li>
</ul>



Martinez also draws attention to critical on-chain data supporting the bearish outlook: a price correction to $70,000 seems plausible as Bitcoin trades below $93,806, with little support until $70,085.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42698826/bitcoin-options-worth-over-14-billion-expired-today-one-of-the-biggest-events-in-history-heres-what-crypto-investors-should-expect">Bitcoin Options Worth Over $14 Billion Expired Today, One Of The Biggest Events In History: Here&#8217;s What Crypto Investors Should Expect</a>



Statistics: Over the past week, 33,000 BTC ($3.23 billion) has been transferred to exchanges, often a precursor to selling pressure.



Traders are realizing significant profits, with $7.17 billion taken off the table on Dec. 23. long positions on Binance having decreased sharply, from 66.73% to 53.60%.



Moreover, Bitcoin recently dipped below a critical support zone at $97,300. 



Martinez argues that for the bearish scenario to be invalidated, Bitcoin must reclaim this level and maintain a daily close above $100,000. 



A sustained recovery could then target $168,500.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42699697/bitcoin-ethereum-etfs-break-4-day-outflow-streak-net-592-inflows-on-thursday">Bitcoin, Ethereum ETFs Break 4-Day Outflow Streak, Net $592 Inflows On Thursday</a></li>
</ul>



Image: Shutterstock

Bitcoin Could Slide To $60,000, Technical Analyst Warns

U.S. equity markets could be headed for a correction due to a confluence of factors like the growing divergence from "Magnificent 7" stocks and President-elect Donald Trump's tariff plans, according to market expert Jay Woods.



What Happened: In an interview with <a href="https://www.cnbc.com/video/2024/12/27/market-is-at-the-beginning-of-a-10-percent-correction-says-freedom-capitals-jay-woods.html">CNBC</a>, Woods, chief market strategist at Freedom Capital Markets, cautioned about the possibility of a market correction in the near term.



According to Woods, we could be at the beginning of a 10% correction in the equity markets. Woods noted that these corrections happen roughly once every 18 months.



"We've had a tremendous run, 10% correction is due to happen every 18 months… What we're seeing is just horrible market breadth," Woods said.



Woods added that while the "Magnificent 7" stocks — Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Google parent Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Amazon.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) — have done well, the divergence in their performance and that of the overall market is "getting a little bit too rich" for him.



See Also: <a href="https://www.benzinga.com/24/12/42696614/cathie-wood-takes-profit-on-hot-ai-stock-palantir-again-continues-to-sell-block-shares-amid-bitcoin-buzz">Cathie Wood Takes Profit On Hot AI Stock Palantir Again, Continues To Sell Block Shares Amid Bitcoin Buzz</a>



"Once we get to the new quarter, we're going to have some headwinds to deal with. We may see some of those Mag 7 names give back a little bit. I don't think the rotation will keep us from having a 10% correction."



"It's not going to be fun," he quipped.



Woods also pointed to uncertainty due to Trump's tariff plans as a possible headwind that could have an impact on the markets.



Elon Musk and Vivek Ramaswamy-led Department of Government Efficiency's (DOGE) plans to cut down federal spending could also result in an uptick in unemployment, said Woods.



Why It Matters: The potential for a market correction has been echoed by other financial experts.



Brian Arcese&nbsp;from&nbsp;Foord Asset Management&nbsp;has also <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42133820/potential-healthy-correction-for-an-expensive-market-looms-as-us-economic-growth-and-earnings-slow-says-asset-manager-sp-500-nasdaq-futures-trade-lower-in-premarket">raised concerns</a> about the slowing U.S. economic growth and corporate earnings, which could trigger a correction if they continue to decelerate. Arcese pointed out that the S&amp;P 500 has been &#8220;expensive for quite a while,&#8221; with a price-to-earnings ratio exceeding 27.



Additionally,&nbsp;Jeremy Siegel, professor emeritus at the University of Pennsylvania's Wharton School, described a recent stock market downturn as a <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42570219/whartons-jeremy-siegel-calls-stock-sell-off-a-healthy-reality-check-market-was-overly-optimistic">&#8220;healthy&#8221; reaction</a> to the Federal Reserve&#8217;s cautious approach to future interest rate cuts.



The Fed&#8217;s decision to lower interest rates by a quarter percentage point led to declines across major Wall Street indexes, as investors had anticipated more aggressive rate reductions.



Billionaire investor&nbsp;David Einhorn <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42087680/billionaire-investor-david-einhorn-calls-it-most-expensive-market-of-all-time-as-sp-500-gains-4-since-trumps-win-really-really-pricey">characterized the market as &#8220;really, really, really pricey,&#8221;</a> noting that the Shiller cyclically adjusted price-to-earnings ratio is at one of the highest levels in a century.



Despite these high valuations, Einhorn clarified that this does not make him bearish, as asset prices can remain mispriced for extended periods.



Price Action: According to <a href="http://pro.benzinga.com">Benzinga Pro</a>, as of Friday&#8217;s pre-market session, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which mirrors the S&amp;P 500, has gained 1.68% over the past five days. Similarly, the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which tracks the Nasdaq-100 Index, has risen by 1.65% during the same period.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42682230/tech-bull-predicts-26-upside-for-apple-stock-sees-golden-era-of-growth-for-cupertino-due-to-multi-year-ai-driven-iphone-upgrade-cycle">Tech Bull Predicts 26% Upside For Apple Stock, Sees &#8216;Golden Era Of Growth&#8217; For Cupertino Due To Multi-Year AI-Driven iPhone Upgrade Cycle</a></li>
</ul>



Photo courtesy: Shutterstock

AAPL

AMZN

GOOG

GOOGL

MSFT

US Stocks Likely Headed For 10% Correction, Says Top Strategist, Points Out 'Horrible Market Breadth:' Trump's Tariff Plans, Musk Co-Led DOGE Could Be Partially To Blame For Decline

Shares of&nbsp;GameStop Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) saw a decline of 2.09% during pre-market hours following an initial surge driven by social media activity as per <a href="https://pro.benzinga.com">Benzinga Pro.</a>



The stock&#8217;s initial rise was triggered by a post from&nbsp;Keith Gill, also known as &#8220;Roaring Kitty,&#8221; who shared a mysterious image on X, formerly known as Twitter. This post, made on Dec. 25, featured a wrapped ‘Christmas Present' and sparked speculation among retail investors, leading to a 7.68% increase&nbsp;in after-hours trading on Robinhood,&nbsp;with shares reaching a peak of $33.50. However, the stock later declined as investors took profits.



Meme stocks like GameStop often gain momentum&nbsp;through viral popularity and speculative&nbsp;trading, which are heavily influenced by social media and active retail communities. While these stocks can offer significant gains, they are also known for their high volatility and the risk of substantial losses.



See Also:&nbsp;<a href="https://www.benzinga.com/markets/24/12/42638957/warren-buffetts-timeless-advice-if-youre-gonna-do-dumb-things-because-your-stock-goes-down-you-shouldnt-own-a-stock-at-all?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Warren Buffett's Timeless Advice For Investing $10,000: &#8216;If You're Gonna Do Dumb Things Because Your Stock At All&#8217;</a>



Despite the recent surge in activity, GameStop&#8217;s stock holds&nbsp;a consensus price target of&nbsp;$10 from analysts, with&nbsp;Wedbush&nbsp;maintaining this target since Sep. 11. The&nbsp;average price target of $9.33&nbsp;suggests a potential downside of 71.10% from current levels, according to the latest analyst ratings.



The recent social media-driven surge in GameStop shares is reminiscent of the 2021 meme stock phenomenon, where retail investors, fueled by platforms like Reddit, drove up the prices of certain stocks, including GameStop. 



Meme stocks gain their fame through viral popularity and speculative trading, fueled primarily by social media buzz and active retail investor communities. While they can deliver quick, substantial gains, they also carry extreme volatility and the potential for heavy losses.



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/insights/options/24/12/42671143/smart-money-is-betting-big-in-smci-options?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Smart Money Is Betting Big In SMCI Options</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

Pre-Market Outlook

General

GameStop Shares Dip In Friday's Premarket After Surging Nearly 6% In Last Session, Fueled By Roaring Kitty's 'Christmas Present'

U.S. stock futures tumbled on Friday in premarket hours after a mixed Thursday. All four index futures slipped in trade.



While the S&amp;P 500 index is on its way to registering a robust 20% plus return for the second consecutive year in 2024 it ended lower on the second day of the Santa rally after advancing 1.1% on Christmas Eve. Analysts say that the full &#8216;Santa Claus Rally&#8217; has never been lower.



The 10-year and two-year Treasury notes yielded 4.61% and 4.33%, respectively. The probability of having no change in the interest rates for the upcoming Jan. 31, 2025 decision was at 89.3%, down from 91.4% a week ago, according <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">to</a> CME Group&#8217;s FedWatch tool.



<figure class="wp-block-table is-style-stripes"><table><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Nasdaq 100</td><td>-0.42%</td></tr><tr><td>S&amp;P 500</td><td>-0.43%</td></tr><tr><td>Dow Jones</td><td>-0.41%</td></tr><tr><td>Russell 2000</td><td>-0.43%</td></tr></tbody></table></figure>



In premarket trading on Friday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was up 0.04% to $601.34 and the Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.36% to $527.70, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.



Cues From The Last Session



U.S. stock markets closed mixed on Thursday, following a Christmas break. The Dow Jones Industrial Average edged <a href="https://www.benzinga.com/24/12/42697989/dow-edges-higher-in-thin-holiday-trading-fear-declines-among-us-investors-but-fear-greed-index-remains-in-fear-zone">higher</a>, while the S&amp;P 500 and Nasdaq Composite dipped slightly.



Month-to-date performance varied across indices. The Nasdaq significantly outperformed, driven by strong gains in Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), while the Dow Jones experienced a decline of around 3.5%. The S&amp;P 500 saw a modest gain of 0.1%.



Economic data released on Thursday showed a slight decrease in initial jobless claims, coming in below market expectations. This suggests a continued strong labor market.



Sector performance was mixed. Healthcare, financial, and real estate sectors led gains, while consumer discretionary and communication services sectors underperformed.



<figure class="wp-block-table is-style-stripes"><table><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>-0.05%</td><td>20,020.36</td></tr><tr><td>S&amp;P 500</td><td>-0.04%</td><td>6,037.59 </td></tr><tr><td>Dow Jones</td><td>0.07%</td><td>43,325.80 </td></tr><tr><td>Russell 2000</td><td>0.90%</td><td>2,280.19 </td></tr></tbody></table></figure>



Insights From Analysts



According to the chief market strategist at Carson Research, Ryan Detrick, the final six days of the &#8216;Santa Claus Rally&#8217; has been higher five out of seven, with two small losses. But even these six days have been higher by 1.7% on average.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The S&amp;P 500 gained more than 1% on the first day of the Santa Claus Rally (SCR). Now what? Full SCR period has never been lower, up 7 out of 7. Final 6 days? Higher 5 of 7, with two small losses and up 1.7% on avg. &#x1f385;&#x1f4aa; <a href="https://t.co/dwCKraVxAA">pic.twitter.com/dwCKraVxAA</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1872323859334238441?ref_src=twsrc%5Etfw">December 26, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Mapping the data from 1950, Detrick summarized that the S&amp;P 500 has had a 20% plus return 22 times and a negative return annual return or 21 times in total.



<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">We are about to have more years, since 1950, that saw stocks gain 20% (22) than had a negative year (21). Impress your friends at the New Year&#39;s Eve party with that stat. <a href="https://t.co/LDn0m6uBf6">pic.twitter.com/LDn0m6uBf6</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1872422872427470946?ref_src=twsrc%5Etfw">December 26, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



According to Charlie Bilello, the chief market strategist at Creative Planning the S&amp;P 500&#8217;s 57 all-time highs in 2024 was the fifth highest in its history.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The S&amp;P 500 has hit 57 all-time highs so far in 2024, the 5th most of any year in history. <a href="https://twitter.com/search?q=%24SPX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SPX</a> Video: <a href="https://t.co/a2jVufnOfZ">https://t.co/a2jVufnOfZ</a> <a href="https://t.co/3xe6W8ub5b">pic.twitter.com/3xe6W8ub5b</a>&mdash; Charlie Bilello (@charliebilello) <a href="https://twitter.com/charliebilello/status/1872330869236539691?ref_src=twsrc%5Etfw">December 26, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Louis Navellier of Navellier &amp; Associates in his daily market commentary said, &#8220;The Fed may be turning its attention to inflation, according to Fed Chairman Jerome Powell's comments, but if continuing unemployment claims continue to rise, it will likely get the Fed's attention and encourage more key interest rate cuts.&#8221;



&#8220;Continuing unemployment claims rose to 1.91 million in the latest week, which represents the highest level in more than three years. New unemployment claims came in at 219,000, which was a bit lower than the four-week moving average of 226,500,&#8221; he added.



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



Upcoming Economic Data



Only a few data points remain to be released in this truncated week that will help investors determine the future course of action.



<ul>
<li>On Friday, November&#8217;s data for the advanced U.S. trade balance in goods, advanced retail inventories, and advanced wholesale inventories will be announced at 8:30 a.m., ET.</li>
</ul>



Stocks In Focus:



<ul>
<li>Viracta Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIRX#NASDAQ">VIRX</a>) was down 21.90% in premarket after it said that the company board has initiated a process to explore a broad range of strategic alternatives to close its ongoing pivotal Phase 2 clinical trial of Nana-val in Relapsed/Refractory EBV + Lymphomas.</li>
</ul>



<ul>
<li>Evaxion Biotech A/S (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVAX#NASDAQ">EVAX</a>) was up 67.85% as it applied for a patent for vaccines targeting Neisseria gonorrhoeae.</li>
</ul>



<ul>
<li>Grid Dynamics Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GDYN#NASDAQ">GDYN</a>) was up 7.31% as it will replace Revelyst Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEAR#NYSE">GEAR</a>) in the S&amp;P SmallCap 600 effective before the opening bell on Thursday, Jan. 2.</li>
</ul>



<ul>
<li>Sealsq Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAES#NASDAQ">LAES</a>) was up 6.28% in premarket after it regained compliance with Nasdaq's minimum bid price requirement, securing its position on the stock market.</li>
</ul>



<ul>
<li>Rigetti Computing Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>) was up 8.16% in premarket after a 36% jump on Thursday. It launched its 84-qubit Ankaa-3 system, a quantum computer featuring an extensive hardware redesign that enables superior performance on Dec. 23 and the stock has been up by 543.33% month-to-date.</li>
</ul>



<ul>
<li>Rezolve AI Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RZLV#NASDAQ">RZLV</a>) was up 10.61% in premarket and it has surged by 109.05% over the last month. The company announced the pricing of its $15 million registered offering last week.</li>
</ul>



Commodities, Gold And Global Equity Markets:



Crude oil futures were higher in the early New York session by 0.46% to hover around $69.94 per barrel.



The gold spot index was down by 0.48% to $2,641.11 per ounce. The Dollar Index was up 0.01% to 108.138 level.



Asian markets were mixed on Friday, as Hong Kong&#8217;s Hang Seng, China&#8217;s CSI 300, and South Korea&#8217;s Kospi index declined. Whereas, Japan&#8217;s Nikkei 225, Australia&#8217;s ASX 200, and India&#8217;s S&amp;P BSE Sensex index rose. Most European markets traded higher.



Read Next:



<ul>
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Photo courtesy: Wikimedia

Futures

EVAX

GDYN

GEAR

RZLV

TSX:RSLV

VIRX

US Stocks To Open Lower As Index Future Decline: Analysts Remain Upbeat About Santa Rally

Cathie Wood, a well-known U.S. technology investor, is calling for clear tax policies from&nbsp;Donald Trump&#8216;s incoming administration.



What Happened: Wood proposes that tax cuts be retroactively applied from Jan. 1, to boost economic growth and provide policy certainty, Reuters reported on Friday.



&#8220;I see them saying, okay, we&#8217;re going to cut taxes but we will make them retroactive to Jan. 1, 2025. That would be very helpful, I think, in terms of providing certainty for the markets,&#8221; Wood said.



&#8220;If they don&#8217;t, you&#8217;re going to get companies and individuals perhaps holding back. &#8230; I&#8217;m trying to communicate that pretty regularly to anyone who will listen.&#8221;



Wood&#8217;s primary fund, ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>), has experienced a 17% increase following Trump&#8217;s electoral win, which is expected to bring about advantageous policy shifts. Stocks such as Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), which are in Wood&#8217;s flagship fund, have already seen notable gains since Nov. 6.



Wood has voiced her support for Trump&#8217;s economic strategies, which include fostering innovation in cryptocurrency and artificial intelligence, streamlining regulations, and reducing government expenses. She stresses the importance of retroactive tax cuts to ensure market stability, cautioning that without them, businesses and individuals may be reluctant to invest.



See Also:&nbsp;<a href="https://www.benzinga.com/markets/24/12/42638957/warren-buffetts-timeless-advice-if-youre-gonna-do-dumb-things-because-your-stock-goes-down-you-shouldnt-own-a-stock-at-all?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Warren Buffett's Timeless Advice For Investing $10,000: &#8216;If You're Gonna Do Dumb Things Because Your Stock At All&#8217;</a>



While Wood typically opposes tariffs, she perceives Trump&#8217;s tariff threats as a strategic negotiation tool. Analysts predict that tax reform will be a focal point for the new Republican-majority Congress, with Trump expected to implement key policies through executive orders after his January 20 inauguration.



Wood, who&nbsp;did not financially back Trump&nbsp;in the 2024 election, maintains communication with&nbsp;Elon Musk&nbsp;and&nbsp;Sen. Cynthia Lummis (R &#8211; Wyo.) both of whom are influential in shaping Trump&#8217;s policies. Despite some market fluctuations, Wood remains hopeful about the ongoing influence of the &#8216;Trump bump&#8217; on innovation-driven industries.



Why It Matters: Wood&nbsp;has <a href="https://www.benzinga.com/markets/equities/24/12/42262916/ark-invests-cathie-wood-says-stock-market-will-broaden-out-under-trump-but-growth-wont-be-linear-nothing-goes-up-in-a-straight-line">previously expressed optimism </a>about the stock market&#8217;s potential under Trump&#8217;s leadership. In early December, she shared her belief that the market was beginning to anticipate a shift, noting a broadening out from a concentration on a few stocks. 



This aligns with Trump&#8217;s own positive <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42466189/trump-talks-stocks-bitcoin-ai-economy-with-jim-cramer-youre-going-to-see-some-very-good-days-ahead">outlook on the economy</a>, as he mentioned during a conversation with CNBC&#8217;s Jim Cramer, predicting &#8220;very good days ahead&#8221; for stocks, Bitcoin, and AI. 



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<li><a href="https://www.benzinga.com/markets/24/12/42678673/michael-jordan-sells-his-massive-luxury-mansion-for-9-5-million-but-it-took-12-years-to-find-a-buyer-and-he-spent-50-million-building-it?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Michael Jordan Sells His Massive Luxury Mansion For $9.5 Million – But It Took 12 Years To Find A Buyer And He Spent $50 Million Building It</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 Benzinga YouTube and Unsplash

ARKK

Ark Invest's Cathie Wood Urges Trump's Incoming Administration To Implement Retroactive Tax Cuts For Economic Boost From January 1

Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) could emerge as &#8220;the next Oracle&#8221; in the artificial intelligence revolution, according to Wedbush Securities analyst Dan Ives, who dubbed the data analytics firm &#8220;the Messi of AI&#8221; despite its stock already surging 395.42% in 2024.



What Happened: The company&#8217;s stock, trading at $82.14, has become the S&amp;P 500&#8217;s top performer this year, pushing its market capitalization to $183.23 billion. This remarkable run has positioned Palantir well above Wedbush&#8217;s $75 price target, though Ives maintains strong conviction in the company&#8217;s growth trajectory.



&#8220;Looking ahead to the next 5-10 years, I believe it&#8217;s all about Palantir. In the context of the AI revolution, this is just the beginning,&#8221; Ives emphasized <a href="https://www.youtube.com/watch?v=CcTK53LhP2w">on</a> CNBC&#8217;s Closing Bell Overtime. He describes Palantir as a &#8220;table-pounder&#8221; stock that investors should consider adding to their portfolios, despite its current price-to-earnings ratio of 411.90.



Former Palantir employee Alex Fishman, now with Empros Capital, provided additional insight into the company&#8217;s potential: &#8220;When I look at Palantir, it&#8217;s one of the few companies where I can easily envision it becoming 10 or 20 times its current size.&#8221; 



Fishman highlighted Palantir&#8217;s crucial role in defense and commercial sectors, describing it as &#8220;the glue that ties everything together&#8221; in coordinating critical technological efforts.



See Also: <a href="https://www.benzinga.com/markets/asia/24/12/42692036/billionaire-investors-michael-burry-david-tepper-could-benefit-from-chinas-stimulus-measures">Billionaire Investors Michael Burry, David Tepper Could Benefit From China&#8217;s Stimulus Measures</a>



Why It Matters: Wall Street&#8217;s broader consensus remains more conservative, with an average price target of $35.58 based on 20 analyst ratings. However, recent updates suggest growing optimism. UBS issued an $80 price target on December 19, while Mizuho and Baird released positive outlooks, though their average target of $64.67 still implies a potential downside.



The company&#8217;s technical indicators suggest room for continued growth, with an RSI reading of 62 indicating the stock isn&#8217;t yet in overbought territory despite its dramatic rise. The stock&#8217;s 52-week range of $15.66 to $84.80 reflects its volatile but upward trajectory.



In the same discussion, Ives also raised Apple Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) price target to $325, citing AI initiatives, though he emphasized Palantir&#8217;s unique position in the enterprise AI space. As companies increasingly adopt AI solutions, Ives believes Palantir&#8217;s commercial expansion and defense sector dominance position it for continued growth into 2025.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/24/12/42696614/cathie-wood-takes-profit-on-hot-ai-stock-palantir-again-continues-to-sell-block-shares-amid-bitcoin-buzz">Cathie Wood Takes Profit On Hot AI Stock Palantir Again, Continues To Sell Block Shares Amid Bitcoin Buzz</a></li>
</ul>



Image Via Pixabay



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

Palantir Touted As 'Next Oracle' By Dan Ives: Here Is Why The Wedbush Analyst Called The Company A 'Table Pounder'

Leading cryptocurrencies fell Thursday after a festive surge on Christmas gave way to profit-taking.



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 7:30 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>-3.69%</td><td>$95,658.87</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>-4.37%</td><td>$3,338.32</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>-6.97%</td><td>$0.3116</td></tr></tbody></table></figure>



What Happened: After teasing the $100,000 mark on Christmas, Bitcoin witnessed a steep decline, falling to an intraday low of $95,170.



Ethereum dropped to the $3,300 region following the to-and-from movement between $3,440 and $3,510.



Trading volumes for both currencies rose, indicating that traders returned from their Christmas break to book profits.



Over $270 million was liquidated from the market in the last 24 hours, with long liquidations accounting for $200 million.



Bitcoin's Open Interest increased by 0.97% in the last 24 hours. The majority of them were short positions, as evidenced by a drop in the Long/Short Ratio.



That said, nearly $760 million in short positions risked liquidation if Bitcoin rebounds to $100,000.



The market sentiment was "Greed," according to the Crypto Fear &amp; Greed Index.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 7:30 p.m. ET)</td></tr><tr><td>Bitget Token (BGB)</td><td>+29.39%</td><td>$7.48</td></tr><tr><td>FTX Token (FTT)</td><td>+3.98%</td><td>$5.77</td></tr><tr><td>Hyperliquid (HYPE)</td><td>+3.43%</td><td>$27.35</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.31 trillion, following a contraction of 3.88% in the last 24 hours.



Trading resumed on Wall Street after the Christmas holiday. The Dow Jones Industrial Average squeezed out a narrow gain of 0.07% to close at 43,325.80. The S&amp;P 500 slid 0.04%, ending at 6,037.59, while the tech-focused Nasdaq Composite closed down 0.05% at 20,020.36.



<a href="https://www.benzinga.com/markets/commodities/24/12/42686302/nasdaq-dips-over-100-points-us-initial-jobless-claims-fall">U.S. jobless claims</a> for the week ending Dec. 21 came at 219,000, lower than analyst estimates of 224,000.



The benchmark 10-year Treasury yield remained broadly unchanged at 4.587% after pushing beyond 4.6% early morning.



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



Analyst Notes: Influential cryptocurrency analyst and trader Ali Martinez called attention to Bitcoin dipping below its "most significant" support level at $97,300.



"So, for the bearish outlook to be invalidated, BTC must reclaim this critical area of support and, more importantly, sustain a daily close above $100,000," Martinez stated.



As it turned out, the leading cryptocurrency failed to reach these predictions, remaining stuck in the $95,000 range.



<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/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> recently broke below one of its most significant support zones at $97,300. So, for the bearish outlook to be invalidated,<a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> must reclaim this critical area of support and, more importantly, sustain a daily close above $100,000!<a href="https://t.co/oaE6S8cP0Q">https://t.co/oaE6S8cP0Q</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1872271711414219129?ref_src=twsrc%5Etfw">December 26, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Bitcoin's Christmas rally and subsequent retrace made it one of the top trending tokens on social media, according to on-chain analytics firm Santiment.



Discussions about its upcoming price moves, such as a climb to $100,000 or a drop to $90,000, dominated social media.



<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">&#x1f5e3;&#xFE0F; As crypto markets look to recover after the Christmas $100K BTC tease and immediate drop thereafter, the top trending tokens across social media are: &#x1fa99; Bitcoin <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>: Discussions about investment strategies, its role as a store of value, and its adoption for international… <a href="https://t.co/3KkPBzan7I">pic.twitter.com/3KkPBzan7I</a>&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1872376820311437684?ref_src=twsrc%5Etfw">December 26, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Image via Shutterstock



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$DOGE

Bitcoin, Ethereum, Dogecoin Pull Back After Christmas Rally: Top Analyst Reveals What Happens Next After BTC Fails To Record Daily Close Above $100K

On Thursday, Cathie Wood-led Ark Invest made significant trades involving Palantir Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>). and Block Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>). Notably, the firm had sold shares of both these companies ahead of Christmas as well.



The Palantir Trade



Ark Invest decided to sell 103,410 shares of Palantir Technologies Inc. through its ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>). The sale, valued at approximately $8.5 million based on Palantir&#8217;s closing price of $82.14, aligns with Ark&#8217;s recent trend of reducing its position in Palantir. 



Palantir&#8217;s stock has seen a <a href="https://www.benzinga.com/24/12/42673408/palantir-stock-is-trading-at-all-time-highs-whats-going-on">remarkable surge</a>, climbing over 380% since the beginning of the year, largely due to its strong positioning in the AI sector. This rally gained momentum in November following the company&#8217;s impressive quarterly results, which highlighted robust demand for AI solutions.



The Block Trade



In another strategic move, Ark Invest sold 15,342 shares of Block Inc. from ARKK. This transaction was valued at approximately $1.4 million, calculated from Block&#8217;s closing price of $91.48. Block, previously known as Square, has been a key player in the digital payments space and has a Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) focus. Bitcoin has been in focus as the leading cryptocurrency has been consistently hitting <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42334991/as-bitcoin-hits-100k-for-the-first-time-ark-invests-cathie-wood-calls-it-a-much-bigger-idea-than-gold-and-that-it-is-still-is-in-early-innings">new all-time highs</a> this year. For more insights into Ark&#8217;s recent trading activities, visit this <a href="https://www.benzinga.com/24/12/42676432/cathie-woods-pre-christmas-sale-ark-invest-dumps-even-more-tesla-palantir-stock">Benzinga report</a>.



See Also: <a href="https://www.benzinga.com/24/12/42679707/bitcoin-ethereum-gain-dogecoin-slips-as-sentiment-turns-positive-on-christmas-analyst-throws-reality-check-for-overexcited-participants?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum Rise, Dogecoin Slides Amid Positive Christmas Sentiment: Analyst Cautions $110K Target For BTC Possible Only When&#8230;</a>



Other Key Trades:



<ul>
<li>GitLab Inc: Ark Invest purchased 219,606 shares through the ARKK.</li>



<li>CRISPR Therapeutics AG: A buy of 57,889 shares was made by Ark through the ARKK.</li>



<li>Adaptive Biotechnologies Corp: Ark sold 75,957 shares from the ARKG.</li>
</ul>



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<li><a href="https://www.benzinga.com/markets/24/12/42649292/mark-cubans-surprising-purchase-of-a-whole-town-near-dallas-was-a-favor-for-a-friend-and-he-wanted-to-rename-it-to-dinosaur-texas?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban&#8217;s Surprising Purchase Of A Whole Town Near Dallas Was A Favor For A Friend – And He Wanted To Rename It To Dinosaur, Texas</a></li>
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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/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Cathie Wood Takes Profit On Hot AI Stock Palantir Again, Continues To Sell Block Shares Amid Bitcoin Buzz

Foot traffic at retailers soared on Dec. 21, the Saturday before Christmas. Here's a look at the potential winners from the last week <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42273676/walmart-target-bath-body-works-stand-out-as-black-friday-winners-analysts">of holiday shopping.</a>



What Happened: Foot traffic at retailers was up an average of 58% compared to daily averages in 2024, a trend that could see retail stocks benefit for the 2024 <a href="https://www.benzinga.com/news/24/11/42247997/walmart-shoppers-shun-electronics-for-black-friday-deals-on-eggs-bread-slippers">holiday shopping season.</a>



The 58% gain to the daily average, <a href="https://www.placer.ai/blog/super-saturday-2024-recap">reported </a>by Placer.ai, is higher than the 51.1% gain over the daily average seen on Black Friday. Sunday, Dec. 22, also saw retail foot traffic up 38.2% to the daily average.



While foot traffic was up compared to the daily average for the year, the 58% gain was smaller than last year's Super Saturday, which saw a 74.4% increase from the daily average. The caveat with last year's data is that Super Saturday was Dec. 23, one of the last remaining shopping days before Christmas.



Among the potential biggest winners for this year's Christmas shopping season could be department stores, based on the report.



Overall foot traffic to department stores was up 128.7% compared to the Saturday 2024 daily average, surpassing last year&#8217;s 119.4% increase over the 2023 Saturday average.



Among the department stores tracked by Placer.ai, these were the year-over-year visit growth:



<ul>
<li>Nordstrom (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>): +8.8%</li>



<li>Bloomingdale's, a unit of Macy's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>): +4.7%</li>



<li>JCPenney: +1.3%</li>
</ul>



The report also found that recreational and sporting goods stores, beauty and self-care stores and other specialty categories saw strong traffic gains. Here's a look at some of the retailers tracked and the foot traffic gains on a year-over-year basis to last year's Super Saturday:



<ul>
<li>Ollie's Bargain Outlet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLLI#NASDAQ">OLLI</a>): +7.3%</li>



<li>T.J. Maxx, a unit of TJX Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TJX#NYSE">TJX</a>): +4.6%</li>



<li>Five Below (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>): +4.2%</li>
</ul>



The report found that superstores, grocery stores, and discount retailers saw lower year-over-year growth due to last year's timing of Super Saturday being so close to Christmas.



Indoor shopping malls like those owned by Simon Property Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPG#NYSE">SPG</a>) may have also benefitted from Super Saturday. Placer.ai data shows that foot traffic to indoor malls was up 177.1% on Super Saturday compared to the 2024 daily average.



Read Also: <a href="https://www.benzinga.com/general/education/24/12/42678116/if-you-gifted-your-family-100-in-bitcoin-dogecoin-and-ethereum-last-christmas-heres-how-much-they-would-have-this-christmas-2">If You Gifted Your Family $100 In Bitcoin, Dogecoin And Ethereum Last Christmas, Here&#8217;s How Much They Would Have This Christmas</a>



Why It's Important: Ahead of Super Saturday, the National Retail Foundation <a href="https://nrf.com/media-center/press-releases/157-million-consumers-to-shop-on-super-saturday">estimated </a>that 157.2 million consumers would shop on the shopping holiday based on an annual survey.



The figure comes in higher than the 141.9 million Super Saturday shoppers in 2024 and is the second highest figure over the last nine years, trailing only 158.5 million in 2022.



"Super Saturday is one of the last opportunities during the holiday season for consumers to get the remaining items on their shopping list," NRF Vice President of Industry and Consumer Insights Katherine Cullen said.



Cullen cited the shortened holiday shopping season, due to Thanksgiving falling late in November, boosting the odds of last-minute shoppers.



The survey found that 69.5 million people plan to shop both in-store and online, up from 58.3 million in 2023. The amount of people exclusively shopping in-store was down in the survey from 37% to 31%, while the percentage of people who said they would shop exclusively online increased from 22% to 24%.



Similar to the results above, the NRF survey highlighted department stores as potential winners on Super Saturday, with 37% of shoppers saying they planned to finish their holiday shopping there.



Finishing shopping online was the most popular response at 49%, with discount stores named by 27% of consumers and clothing and accessory stores named by 25% of consumers.



The NRF survey found the most popular gift purchases were clothing and accessories (50%), toys (32%), gift cards (26%) and books, video games and other media (24%).



The shortened holiday shopping season could have been good for retailers with more foot traffic each day and especially on the weekends. The key will be if the daily increase is enough to offset the lower number of total shopping days between Thanksgiving and Christmas.



The post-Christmas shopping time could also see a boost, with 71% of consumers in the survey saying they planned to shop after Christmas, similar to last year's survey.



NRF estimates that the entire holiday shopping season of Nov. 1 through Dec. 31 is expected to be up 2.5% to 3% from 2024, hitting a record range of $979.5 billion to $989 billion.



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<li><a href="https://www.benzinga.com/general/education/24/12/42658677/better-christmas-gift-gamestop-stock-or-latest-video-game">Better Christmas Gift: GameStop Stock Or Latest Video Game?</a></li>
</ul>



Photo: Shutterstock

FIVE

OLLI

Super Saturday Foot Traffic Surges, Sales Hit $157 Million: Potential Winners Emerge

Streaming giant Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) aired its first NFL games on Christmas Day with two games featuring four of the<a href="https://www.benzinga.com/general/sports/24/12/42354185/nfl-games-set-thanksgiving-day-records-why-this-is-good-and-bad-news-for-streaming-giant-netflix"> top teams in the league.</a>



Here's a look at what happened and a poll that shows the holiday may have hurt viewership.



What Happened: Netflix <a href="https://www.benzinga.com/general/sports/24/12/42512587/netflix-analyst-say-its-only-investable-media-stock-projects-150-million-nfl-christmas-day-boost">spent an estimated</a> $150 million on the rights to two 2024 NFL games on Christmas Day. Strong advertising demand may help the streaming giant recoup the fees and turn the events into free marketing plays.



The big question will be how many viewers tuned in to the NFL games as they were Netflix exclusives and also competed against NBA games, which have traditionally been a staple on Christmas. Family gatherings and events also likely took top billing on Christmas, leaving investors and analysts to eagerly await official viewership data.



Using Benzinga's own methods of polling, the data doesn't suggest that viewership will be as strong for the NFL games as some may be expecting.



"Did you watch Netflix football games?" Benzinga asked during its <a href="https://www.youtube.com/watch?v=mgZkTiF6WnU">morning YouTube show </a>"Benzinga's Market Edge Live."



The results from the show&#8217;s YouTube viewership were:



<ul>
<li>Yes: 27%</li>



<li>No: 72%</li>
</ul>



Benzinga also<a href="https://www.benzinga.com/24/12/42653325/exclusive-netflix-to-have-merry-christmas-with-nfl-games-will-viewers-tune-in-60-say"> recently polled readers</a> and asked if they would be watching ahead of the Christmas Day games.



&#8220;Will you watch Christmas NFL games on Netflix?&#8221; Benzinga asked.



Here were the results:



<ul>
<li>Yes, I already have Netflix: 39%</li>



<li>No, I don&#8217;t have Netflix and won&#8217;t watch: 30%</li>



<li>No, even though I have Netflix: 30%</li>



<li>Yes, I plan to subscribe to Netflix to watch: 1%</li>
</ul>



The largest percentage of readers said they are subscribers and will be watching, getting 39% of the vote. Thirty percent of Netflix subscribers said they won&#8217;t be watching despite being able to watch the games for free with their subscription. Thirty percent said they do not have Netflix and won&#8217;t subscribe just to gain access to the NFL games.



In total, the poll found that 60% of readers don&#8217;t plan on watching the NFL games on Christmas Day.



Why It's Important: NFL viewership has been strong during the 2024 season, with the Chiefs being one of the most popular teams. The official Netflix viewership figure could show what the appetite is like for more holiday NFL games and more streaming exclusives.



In the first Christmas Day game this year, the Kansas City Chiefs defeated the Pittsburgh Steelers 29-10 to take their record to 15-1 on the season. The Steelers dropped to 10-6 on the season, with both teams already having NFL Playoffs spots clinched.



Chiefs tight end Travis Kelce led the way with eight catches for 84 yards and a receiving touchdown, which set the record for the most receiving touchdowns by a Chiefs player all time with 76.



In the second Christmas Day game on Netflix, the Baltimore Ravens defeated the Houston Texans 31-2 to improve their record to 11-5. The Texans fell to 9-7 on the season. Both these teams have also clinched spots in the 2024 NFL Playoffs.



In the Ravens dominant win, quarterback Lamar Jackson rushed for 87 yards and a rushing touchdown. Jackson now has 6,110 career rushing yards, breaking a record previously held by Michael Vick.



With the win and dominant performance, Jackson remains a favorite to win a second-straight NFL MVP. Jackson, who won MVPs for the 2019 and 2023 seasons, ranks second in the betting odds at sportsbook DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>) with odds of +170. Buffalo Bills quarterback Josh Allen is the current favorite at -225.



Here are the current Super Bowl LIX betting odds from DraftKings:



<ul>
<li>Kansas City Chiefs: +360</li>



<li>Detroit Lions: +390</li>



<li>Buffalo Bills: +600</li>



<li>Philadelphia Eagles: +650</li>



<li>Baltimore Ravens: +650</li>



<li>Minnesota Vikings: +1,100</li>



<li>Green Bay Packers: +1,300</li>



<li>Los Angeles Rams: +3,000</li>



<li>Washington Commanders: +5,000</li>



<li>Pittsburgh Steelers: +5,000</li>



<li>Los Angeles Chargers: +5,000</li>



<li>Houston Texans: +5,000</li>



<li>Denver Broncos: +5,000</li>
</ul>



The Chiefs are back to being the betting favorite as they try to win three straight Super Bowls, which would be a first for any NFL team.



Read Next: 



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<li><a href="https://www.benzinga.com/general/entertainment/24/12/42662975/exclusive-squid-game-broke-netflix-records-will-viewers-watch-season-2-70-of-benzinga-readers-say">EXCLUSIVE: &#8216;Squid Game&#8217; Broke Netflix Records, Will Viewers Watch Season 2? 70% Of Benzinga Readers Say…</a></li>
</ul>



Photo courtesy of Netflix.

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