Risk-off sentiment dominated Wall Street on Friday, with selling pressure in AI-linked names intensifying and pushing technology stocks toward their <a href="https://www.benzinga.com/topic/technology-stocks">worst week since April.</a>



By midday in New York, the Nasdaq 100 slumped 1.9%, extending its weekly losses to nearly 5%, while the S&amp;P 500 fell 1.2%, down roughly 3% for the week.



Investor anxiety over the labor market and the broader economy worsened after the University of Michigan's consumer sentiment index sank to its lowest <a href="https://www.benzinga.com/markets/economic-data/25/11/48724041/consumer-sentiment-university-of-michigan-survey-rich-versus-poor-economy-k-shape-stock-market-ai-job-losses">level since June 2022. </a>



Notably, the subindex tracking current economic conditions dropped to the worst reading on record since the survey began in 1951.



Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NVDA">NVDA</a>) fell another 4%, bringing weekly losses above 10%, alongside other high-flying names of the AI boom such as Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/PLTR">PLTR</a>) and Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AMD">AMD</a>). 



Overall, semiconductor stocks, tracked by the iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SOXX">SOXX</a>), have dropped 7.4% this week.



The CBOE Volatility Index (VIX) — Wall Street's so-called fear gauge — surged 15% to above 22, nearing its highest close since late April. Defensive sectors gained ground, with consumer staples leading the advance.



Meanwhile, gold rebounded 0.6% to $4,000 per ounce, buoyed by economic headwinds and a weaker dollar. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) slipped 0.2% to $101,000, heading for its worst week since early March.



<h2 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h2>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Major Indices</td><td>Price</td><td>Chg %</td></tr><tr><td>Dow Jones</td><td>46,586.89</td><td>-0.7%</td></tr><tr><td>S&amp;P 500</td><td>6,646.00</td><td>-1.1%</td></tr><tr><td>Russell 2000</td><td>2,383.05</td><td>-1.5%</td></tr><tr><td>Nasdaq 100</td><td>24,661.70</td><td>-1.9%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 12:15 p.m. ET</figcaption></figure>



According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:



<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/VOO">VOO</a>) fell 1.2% to $609.15.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DIA">DIA</a>) dropped 0.8% to $465.70.</li>



<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/QQQ">QQQ</a>)&nbsp;fell 1.9% to $600.21.</li>



<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IWM">IWM</a>) sank 1.5% to $236.87.</li>



<li>The&nbsp;Consumer Staples&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLP">XLP</a>) outperformed, up 1.4%; the&nbsp;Technology&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLK">XLK</a>) lagged, down 2.2%.</li>
</ul>



<h2 class="wp-block-heading">Friday&#8217;s Stock Movers On Earnings</h2>



<ul class="wp-block-list">
<li>Constellation Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/CEG">CEG</a>) down 2.8%</li>



<li>KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/KKR">KKR</a>) down 0.9%</li>



<li>Duke Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DUK">DUK</a>) down 0.1%</li>



<li>Airbnb, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ABNB">ABNB</a>) down 1.3%</li>



<li>Monster Beverage Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MNST">MNST</a>) up 5.9%</li>



<li>Take-Two Interactive Software, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TTWO">TTWO</a>) down 9.3%</li>



<li>Block, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SQ">SQ</a>) down 9.5%</li>



<li>Microchip Technology Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MCHP">MCHP</a>) down 9.0%</li>



<li>Affirm Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AFRM">AFRM</a>) up 5.0%</li>



<li>The Trade Desk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TTD">TTD</a>) down 7.5%</li>



<li>IREN Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/IREN">IREN</a>) down 8.7%</li>



<li>DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DKNG">DKNG</a>) up 1.6%</li>



<li>Wynn Resorts, Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/WYNN">WYNN</a>) up 0.5%</li>



<li>Franklin Resources, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/BEN">BEN</a>) down 3.6%</li>



<li>Texas Roadhouse, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TXRH">TXRH</a>) up 1.1%</li>



<li>Doximity, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DOCS">DOCS</a>) down 13.8%</li>



<li>MP Materials Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/MP">MP</a>) up 8.0%</li>



<li>Dropbox, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DBX">DBX</a>) up 7.4%</li>



<li>NuScale Power Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SMR">SMR</a>) down 16.2%</li>



<li>MarketAxess Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MKTX">MKTX</a>) up 3.0%</li>



<li>SoundHound AI, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SOUN">SOUN</a>) down 1.0%</li>



<li>Main Street Capital Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/MAIN">MAIN</a>) up 0.3%</li>



<li>Archer Aviation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ACHR">ACHR</a>) down 17.3%</li>



<li>Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/OPEN">OPEN</a>) down 2.1%</li>



<li>BILL Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/BILL">BILL</a>) up 0.3%</li>



<li>StoneCo Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/STNE">STNE</a>) down 11.7%</li>



<li>Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/RUN">RUN</a>) down 20.3%</li>



<li>Peloton Interactive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/PTON">PTON</a>) up 3.7%</li>



<li>Innodata Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/INOD">INOD</a>) up 4.3%</li>



<li>U.S. Rare Earths, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/USAR">USAR</a>) up 0.7%</li>



<li>Amprius Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/AMPX">AMPX</a>) down 0.7%</li>



<li>GigaCloud Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/GCT">GCT</a>) up 22.1%</li>



<li>AbCellera Biologics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ABCL">ABCL</a>) down 19.1%</li>



<li>indie Semiconductor, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/INDI">INDI</a>) down 7.4%</li>



<li>Sweetgreen, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SG">SG</a>) down 13.2%</li>
</ul>



Read now: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/travel/25/11/48717648/thanskgiving-holiday-flight-prices-air-carriers-delta-united-jetblue-airports-cuts">Flight Cuts, Rising Fares: What&#8217;s Behind America&#8217;s Costliest Week To Fly This Year</a></li>
</ul>



Photo: Shutterstock

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Broad U.S. Equity ETFs

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BILL

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INDI

INOD

IREN

MAIN

MCHP

MKTX

MNST

NVDA

OPEN

PLTR

PTON

SOUN

SOXX

STNE

TTWO

TXRH

USAR

WYNN

AI Stocks Extend Selloff, Nasdaq 100 Eyes Worst Week Since April: What's Moving Markets Friday?

This week was brutal for leading artificial intelligence stocks, with Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NVDA">NVDA</a>), Palantir Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/PLTR">PLTR</a>), and Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AMD">AMD</a>) all suffering their steepest declines in months amid growing market chatter about an <a href="https://www.benzinga.com/news/politics/25/11/48723168/nancy-pelosi-and-dow-jones-industrial-average-have-7-stocks-in-common-do-you-own-any-of-the-top-picks">"AI bubble."</a>



Investors who piled into the sector earlier this year began taking profits as valuations stretched and <a href="https://www.benzinga.com/markets/economic-data/25/11/48724041/consumer-sentiment-university-of-michigan-survey-rich-versus-poor-economy-k-shape-stock-market-ai-job-losses">sentiment shifted </a>toward caution.



<ul class="wp-block-list">
<li>NVDA stock is dropping. <a href="https://www.benzinga.com/quote/NVDA">Watch the price action here.&nbsp;</a></li>
</ul>



<h2 class="wp-block-heading">PLTR's Earnings Burn</h2>



Palantir posted its worst week since February, down nearly 15% since Monday, sliding sharply as enthusiasm around its AI platform cooled and traders rotated out.&nbsp;



Read Next— <a href="https://www.benzinga.com/markets/earnings/25/11/48673135/joby-stock-takes-off-after-massive-q3-revenue-beat-what-to-know">Joby Stock Takes Off After Massive Q3 Revenue Beat: What To Know</a>



The company soared this year on explosive growth in its government and commercial AI projects. This week's decline, however, reflected doubts about its near-term earnings leverage, extremely high multiple and mounting pressure on richly priced AI plays.



<h2 class="wp-block-heading">NVDA Slides</h2>



Nvidia fared little better, enduring its worst weekly performance since April and down more than 10% heading into the weekend.&nbsp;



The chipmaker, long considered the centerpiece of the AI rally, lost a stunning $500 million in market cap as investors questioned its valuation.&nbsp;



<h2 class="wp-block-heading">AMD Stumbles</h2>



AMD also stumbled, marking its weakest week since March with losses of nearly 12%. While still seen as a key competitor in the data center and AI compute race, AMD's stock succumbed to broader risk-off sentiment.&nbsp;



Investors appeared unconvinced that recent product launches could immediately challenge Nvidia's dominance or justify its own elevated valuation.



<h2 class="wp-block-heading">AI Bubble?&nbsp;</h2>



Across AMD, Palantir and Nvidia, combined market cap losses reached well into the hundreds of billions. The pullback has rekindled the debate about whether AI stocks have entered bubble territory — and if that bubble has started to leak. 



Analysts stress that while the long-term fundamentals remain intact, valuations may have run too far ahead of earnings reality and the correction could be a healthy recalibration rather than a collapse.



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/11/48725059/iren-ceo-teases-deals-even-bigger-than-microsoft">IREN CEO Teases Deals Even Bigger Than Microsoft</a></li>
</ul>



Photo: Shutterstock

News

Movers

Tech

Trading Ideas

Nvidia, Palantir, AMD Stocks Had A Really Bad Week

The average American is growing more pessimistic about the economy, as a key sentiment index fell to its lowest level since June 2022, marking one of the bleakest readings since the survey&#8217;s inception in 1952. But there's a twist: wealthy Americans are actually feeling better than ever, buoyed by soaring stock markets in another clear sign of <a href="https://www.benzinga.com/markets/economic-data/25/10/48127604/k-shaped-economy-rich-vs-poor-unemployment-stocks-wall-street-main-street">a K-shaped economy.</a>



<h2 class="wp-block-heading">Consumer Confidence Sinks To 50.3—One Of The Lowest Ever</h2>



The University of Michigan's preliminary reading for consumer sentiment plummeted to 50.3 in November, down from 53.6 in October and below economists&#8217; forecast of 53.2.



This marks a 30% year-over-year drop, putting sentiment at levels not seen since the summer of 2022, when oil prices hovered above $100 per barrel and the Fed accelerated its aggressive rate-hiking cycle.



The subindex for current economic conditions plummeted from 58.6 to 52.3, marking the index&#8217;s lowest reading in its history. Meanwhile, the subindex for economic expectation eased from 50.3 to 49.



<h2 class="wp-block-heading">Chart: US Consumers Say It's Never Felt Worse—Current Conditions Index Hits Historic Low</h2>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="543" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07103158/image-155-1024x543.png" alt="" class="wp-image-1153896" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07103158/image-155-1024x543.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07103158/image-155-300x159.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07103158/image-155-768x407.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07103158/image-155-1536x814.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07103158/image-155-2048x1085.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



&#8220;With the federal government shutdown dragging on for over a month, consumers are now expressing worries about potential negative consequences for the economy,&#8221; said Joanne Hsu, director of the University of Michigan&#8217;s Surveys of Consumers.



The decline was broad-based, with sentiment falling across age, income and political groups. Still, inflation expectations showed mixed signals: near-term inflation rose slightly to 4.7% from 4.6%, while long-run expectations fell to 3.6% from 3.9%, indicating some anchored optimism.



Another potential cause of November&#8217;s negative sentiment is the cooling labor market. U.S. employers announced 153,074 job cuts in October, marking a 175% surge from last year and the worst October since 2003, according to Challenger, Gray &amp; Christmas.



So far in 2025, layoffs have topped 1.09 million, a 65% increase year-over-year, putting the labor market on track for its worst year since 2020.



Bank of America's Michael Hartnett highlighted a rising unemployment rate among recent graduates, up to 8% from 4% in 2023, and warned that AI is triggering structural job losses that disproportionately affect middle-income workers.



<h2 class="wp-block-heading">AI Is Fueling A New Economic Divide</h2>



The forces behind this divide run deeper than inflation or shutdowns. According to Jordi Visser of 22V Research, the traditional link between corporate profits and labor demand has broken.



&#8220;Earnings per share continue to climb even as job openings and temporary employment fall,&#8221; said Visser. &#8220;This marks a historic decoupling between capital and labor.&#8221;



This trend has major implications for investing over the next decade. Visser anticipates a long period of economic dislocation marked by inequality, regional divergence and sectoral volatility. Capital will increasingly accrue to owners of productive assets, while labor's share of income shrinks.



Luxury and premium sectors may thrive, but mass-market retailers and mid-tier service providers could face a demand crunch. 



Investors should prepare for a decade in which preserving and growing wealth requires understanding not just markets but also the societal transformations AI is driving.



<h2 class="wp-block-heading">Wall Street Eyes Worst Week Since April </h2>



Worsening labor market cracks and rising layoff fears on Main Street are starting to ripple through Wall Street.



The Nasdaq 100, tracked by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/QQQ">QQQ</a>), dropped 1.2% on Friday, bringing its weekly slide to 3.7%—on pace for its worst week since early April.



The S&amp;P 500, via the Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/VOO">VOO</a>), also slipped 0.7%, extending weekly losses to 2.2%.



Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NVDA">NVDA</a>) was 3.3% lower by mid-morning in New York, pushing the weekly selloff to over 10%.



Read now: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/travel/25/11/48717648/thanskgiving-holiday-flight-prices-air-carriers-delta-united-jetblue-airports-cuts">Flight Cuts, Rising Fares: What&#8217;s Behind America&#8217;s Costliest Week To Fly This Year</a></li>
</ul>



Image: Shutterstock

Analyst Color

Equities

Econ #s

Analyst Ratings

Consumer Sentiment Tanks To 2022 Lows, But The Richest 3% Are Celebrating

Shareholders of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TSLA">TSLA</a>) approved the <a href="https://www.benzinga.com/markets/tech/25/11/48646723/ross-gerber-says-tsla-stock-dilution-would-be-equivalent-to-275-million-day-if-elon-musks-pay-package-passes">trillion-dollar pay package</a> for CEO Elon Musk during the company's annual shareholder meeting.



Check out the current price of TSLA <a href="https://benzinga.com/quote/TSLA">here</a>.



<h2 class="wp-block-heading">75% In Favor Of The Pay Package</h2>



Over 75% of the automaker's total shareholders voted in favor of approving the pay package during the shareholder meeting on Thursday, Tesla announced. The package puts Musk on track to become the first-ever trillionaire in history, provided he can achieve the goals outlined in the package.



Musk thanked the shareholders for voting in favor, despite opposition from proxy advisors like Institutional Shareholder Services (ISS) and Glass Lewis, whom Musk had <a href="https://www.benzinga.com/markets/tech/25/10/48371707/elon-musk-calls-proxy-advisor-firms-opposing-his-trillion-dollar-pay-corporate-terrorists-accuses-them-of-voting-on-random-political-lines">called "corporate terrorists"</a> during Tesla's third-quarter earnings call, as well as the <a href="https://www.benzinga.com/markets/tech/25/10/48345724/ross-gerber-calls-elon-musks-pay-packet-insanity-questions-whether-anyone-on-tesla-board-negotiated-the-trillion-dollar-salary">automaker's major investors</a>, including Norway's <a href="https://www.benzinga.com/markets/tech/25/11/48614112/elon-musks-1-trillion-tesla-pay-deal-opposed-by-worlds-largest-wealth-fund">Sovereign Wealth Fund</a> NBIM and the California Public Employees' Retirement System (CalPERS).



<h2 class="wp-block-heading">FSD, Optimus Push</h2>



On Full Self-Driving (FSD), Musk reiterated that the company's autonomous tech was progressing and the automaker could allow "in the next month or two," Tesla owners to "text and drive essentially." It's worth noting that the technology is currently <a href="http://www.benzinga.com/trading-ideas/movers/25/10/48129383/tesla-stock-is-trading-lower-thursday-whats-driving-the-action">under investigation by NHTSA</a>.



The billionaire also highlighted the importance of the <a href="https://www.benzinga.com/markets/tech/25/11/48644740/top-analyst-predicts-major-tsla-dip-calls-elon-musk-led-ev-giants-autonomous-ride-hailing-service-a-glorified-taxi-people-will-be-sick">Optimus robot for Tesla</a>, calling it "the biggest product of all time by far," during the meeting. Musk also said that the product would be bigger than cell phones.



During the event, the CEO claimed that everyone would want "their own personal R2D2 or C3PO." Musk also announced plans for a production line of 1 million units for Optimus at Tesla&#8217;s Fremont facility in California, as well as a 10-million capacity line at the Gigafactory in Texas.



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="201" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06221731/TSLA-NOV-7-2025-1024x201.jpg" alt="" class="wp-image-1152844" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06221731/TSLA-NOV-7-2025-1024x201.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06221731/TSLA-NOV-7-2025-300x59.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06221731/TSLA-NOV-7-2025-768x151.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06221731/TSLA-NOV-7-2025-1536x301.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06221731/TSLA-NOV-7-2025.jpg 1559w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



Tesla scores well on Momentum and Quality metrics, while offering satisfactory Growth, but poor Value. Tesla also has a favorable price trend in the Short, Medium and Long term. For more such insights, sign up for<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"> Benzinga Edge Stock Rankings</a> today!



Check out more of Benzinga's Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/11/48679366/tesla-roadster-3-years-away-from-production-could-sport-2-door-design-amid-elon-musks-unforgettable-demo-flying-car-claims-report">Tesla Roadster 3 Years Away From Production — Could Sport 2-Door Design Amid Elon Musk&#8217;s &#8216;Unforgettable Demo,&#8217; &#8216;Flying Car&#8217; Claims: Report</a></li>
</ul>



Photo courtesy: Shutterstock

Markets

TSLA

Elon Musk's Trillion-Dollar Pay Package Approved By Tesla Shareholders Amid AI, Robotics Push

(Editor&#8217;s note: The future prices of benchmark tracking ETFs, the lede, and headline were updated in the story.)



U.S. stock futures turned negative after initial positive moves on Friday following Thursday's declines. Futures of major benchmark indices were lower.



Thursday&#8217;s action was part of a broad selloff across Wall Street that saw U.S. stocks settle lower, with the Nasdaq Composite dipping more than 400 points during the session.



Risk-off sentiment returned sharply, with <a href="https://www.benzinga.com/markets/equities/25/11/48711377/nasdaq-tumbles-more-than-400-points-investor-fear-increases-fear-greed-index-moves-to-extreme-fear-zone">AI-linked stocks leading the decline</a> and renewed pressure hitting crypto markets. 



Meanwhile, reports emerged that the Donald Trump administration has<a href="https://www.benzinga.com/markets/tech/25/11/48712049/trump-administration-plans-to-bar-nvidia-from-selling-modified-ai-chips-to-china-just-days-after-jensen-huang-said-beijing-will-win-ai-race-report"> decided to block</a> Nvidia Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NVDA">NVDA</a>) sale of its latest scaled-down AI chip to China.



The 10-year Treasury bond yielded 4.11% and the two-year bond was at 3.58%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 65.1% likelihood of the Federal Reserve cutting the current interest rates during its December meeting.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Dow Jones</td><td>0.19%</td></tr><tr><td>S&amp;P 500</td><td>0.27%</td></tr><tr><td>Nasdaq 100</td><td>0.31%</td></tr><tr><td>Russell 2000</td><td>0.42%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SPY">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/QQQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, fell in premarket on Friday. The SPY was down 0.44% at $667.39, while the QQQ declined 0.63% to $607.83, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Stock Market News Today &#x7C; Tesla, Expedia, IREN, Archer Aviation In Focus &#x7C; Nov 7, 2025" width="500" height="281" src="https://www.youtube.com/embed/i_GbfdafkYA?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>



<h2 class="wp-block-heading">Stocks In Focus</h2>



<h2 class="wp-block-heading">Tesla</h2>



<ul class="wp-block-list">
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TSLA">TSLA</a>) rose 2.08% in premarket on Friday as its shareholders <a href="https://www.benzinga.com/markets/tech/25/11/48710411/elon-musks-trillion-dollar-pay-package-approved-by-tesla-shareholders-amid-ai-robotics-push">approved the trillion-dollar</a> pay package for CEO Elon Musk during the company's annual shareholder meeting.</li>
</ul>



<ul class="wp-block-list">
<li>Benzinga&#8217;s Edge Stock Rankings indicate that TSLA maintains a stronger price trend over the short, medium, and long terms, with a poor value ranking. Additional performance details are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here.</a></li>
</ul>



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="155" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07042611/TSLA-EDGE-NOV-7-1-1024x155.png" alt="Benzinga's Edge Stock Rankings for TSLA. " class="wp-image-1153327" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07042611/TSLA-EDGE-NOV-7-1-1024x155.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07042611/TSLA-EDGE-NOV-7-1-300x46.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07042611/TSLA-EDGE-NOV-7-1-768x117.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07042611/TSLA-EDGE-NOV-7-1.png 1153w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<h2 class="wp-block-heading">IREN</h2>



<ul class="wp-block-list">
<li>IREN Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/IREN">IREN</a>) jumped 5.18% after its first-quarter revenue came in at $240.3 million, which beat the Street estimate of $235.5 million.</li>
</ul>



<ul class="wp-block-list">
<li>IREN maintained a stronger price trend over the short, medium, and long terms, with a solid growth ranking. Additional performance details, as per Benzinga&#8217;s Edge Stock Rankings, are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here.</a></li>
</ul>



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="152" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07042645/IREN-EDGE-NOV-6-1024x152.png" alt="Benzinga's Edge Stock Rankings for IREN. " class="wp-image-1153328" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07042645/IREN-EDGE-NOV-6-1024x152.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07042645/IREN-EDGE-NOV-6-300x45.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07042645/IREN-EDGE-NOV-6-768x114.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07042645/IREN-EDGE-NOV-6.png 1156w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<h2 class="wp-block-heading">Archer Aviation</h2>



<ul class="wp-block-list">
<li>Archer Aviation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ACHR">ACHR</a>) dropped 8.33% after reporting a third-quarter loss of 20 cents per share. It also signed definitive agreements to acquire Hawthorne Airport in Los Angeles for $126 million in cash.</li>
</ul>



<ul class="wp-block-list">
<li>It maintained a weaker price trend over the long, short, and medium terms. Additional performance details, as per Benzinga's Edge Stock Rankings, are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here.</a></li>
</ul>



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="160" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07042719/ACHR-EDGE--1024x160.png" alt="Benzinga's Edge Stock Rankings for ACHR. " class="wp-image-1153329" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07042719/ACHR-EDGE--1024x160.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07042719/ACHR-EDGE--300x47.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07042719/ACHR-EDGE--768x120.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07042719/ACHR-EDGE-.png 1155w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<h2 class="wp-block-heading">Take-Two Interactive Software</h2>



<ul class="wp-block-list">
<li>Take-Two Interactive Software Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TTWO">TTWO</a>) tumbled 6.26% despite reporting better-than-expected second-quarter financial results for fiscal 2026, as the company said that the long-awaited release of &#8220;Grand Theft Auto VI&#8221; is still more than a year away.</li>
</ul>



<ul class="wp-block-list">
<li>TTWO maintains a weaker price trend over the short and medium terms but a strong trend in the long term, with a poor growth ranking. Additional information is <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here.</a></li>
</ul>



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="158" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07042754/TTWO-EDGE-1024x158.png" alt="Benzinga's Edge Stock Rankings for TTWO. " class="wp-image-1153330" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07042754/TTWO-EDGE-1024x158.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07042754/TTWO-EDGE-300x46.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07042754/TTWO-EDGE-768x118.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07042754/TTWO-EDGE.png 1149w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



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



<ul class="wp-block-list">
<li>Expedia Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/EXPE">EXPE</a>) soared 15.23% after the online travel company posted stronger-than-expected third-quarter results and raised its full-year outlook.</li>
</ul>



<ul class="wp-block-list">
<li>EXPE maintained a stronger price trend over short, medium, and long terms, with a poor value ranking. Additional performance details, as per Benzinga&#8217;s Edge Stock Rankings, are available here.</li>
</ul>



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="152" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07042804/EXPE-EDGE--1024x152.png" alt="Benzinga's Edge Stock Rankings for EXPE. " class="wp-image-1153331" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07042804/EXPE-EDGE--1024x152.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07042804/EXPE-EDGE--300x45.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07042804/EXPE-EDGE--768x114.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07042804/EXPE-EDGE-.png 1155w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<h2 class="wp-block-heading">Cues From Last Session</h2>



Most sectors on the S&amp;P 500 closed on a negative note, with communication services, consumer discretionary, and information technology stocks recording the biggest losses on Thursday.



However, energy and health care stocks bucked the overall market trend, closing the session higher.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>-1.90%</td><td>23,053.99</td></tr><tr><td>S&amp;P 500</td><td>-1.12%</td><td>6,720.32</td></tr><tr><td>Dow Jones</td><td>-0.84%</td><td>46,912.30</td></tr><tr><td>Russell 2000</td><td>-1.86%</td><td>2,418.82</td></tr></tbody></table></figure>



<h2 class="wp-block-heading">Insights From Analysts</h2>



According to a new note from LPL Financial, tech's biggest players are pouring &#8220;staggering&#8221; sums into the artificial intelligence race, even as the core business remains unprofitable.



Capital expenditures from five key hyperscalers, Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AMZN">AMZN</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MSFT">MSFT</a>), Alphabet Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/GOOG">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/GOOGL">GOOGL</a>) Google, Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/META">META</a>), and Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ORCL">ORCL</a>) are projected to soar to $600.1 billion by 2027, up from $155.1 billion in 2023.



This 40% compound annual growth rate highlights a sector &#8220;fully convinced that this is a race worth winning.&#8221; Yet, LPL notes a critical disconnect: &#8220;the large language model business that is leveraging these new technologies is currently unprofitable.&#8221;



This has fueled concerns over &#8220;circular financing,&#8221; where chipmakers like Nvidia Corp. invest in their own unprofitable customers to sustain demand. &#8220;A more pessimistic take would be that this circular financing is being used to buttress the financial position of unprofitable business lines,&#8221; LPL stated.



Analysts are also flagging the use of Special Purpose Vehicles (SPVs) to manage risk, a structure LPL notes &#8220;is how Enron hid its fraud.&#8221; While enthusiasm shows signs of &#8220;waning,&#8221; LPL concedes the &#8220;momentum behind this theme is strong.&#8221;



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



<h2 class="wp-block-heading">Upcoming Economic Data</h2>



Here's what investors will be keeping an eye on Friday;



<ul class="wp-block-list">
<li>New York Fed President John Williams will speak at 3:00 a.m. and Fed Vice Chair Philip Jefferson will speak at 7:00 a.m. ET. October&#8217;s U.S. employment report, unemployment rate, and hourly wages data will be delayed.</li>
</ul>



<ul class="wp-block-list">
<li>Dallas Fed President Lorie Logan will speak at 9:30 a.m. and Fed governor Stephen Miran at 3:00 p.m. ET.</li>
</ul>



<ul class="wp-block-list">
<li>November&#8217;s preliminary consumer sentiment data will be out by 10:00 a.m., and September&#8217;s consumer credit data by 3:00 p.m. ET.</li>
</ul>



<h2 class="wp-block-heading">Commodities, Gold, Crypto, And Global Equity Markets</h2>



Crude oil futures were trading higher in the early New York session by 1.19% to hover around $60.14 per barrel.



Gold Spot US Dollar rose 0.86% to hover around $4,011.13 per ounce. Its last record high stood at $4,381.6 per ounce. The U.S. Dollar Index spot was 0.11% higher at the 99.8450 level.



Meanwhile, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was trading 1.81% lower at $101,152.85per coin.



Asian markets closed lower on Friday, including India&#8217;s NIFTY 50, South Korea's Kospi, Japan's Nikkei 225, Australia's ASX 200, Hong Kong's Hang Seng, and China&#8217;s CSI 300 indices rose. European markets were also lower in early trade.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/hedge-funds/25/11/48711609/howard-marks-cautions-on-cockroaches-warning-loans-frauds-often-occur-in-clusters-credit-issu">Howard Marks Cautions On &#8216;Cockroaches,&#8217; Warning Loans, Frauds &#8216;Often Occur In Clusters:&#8217; Credit Issues Aren&#8217;t &#8216;Systemic,&#8217; They&#8217;re &#8216;Systematic&#8217;</a></li>
</ul>



Image via Shutterstock

Asia

Earnings

Earnings Beats

Earnings Misses

Government

Macro Notification

Market Summary

Regulations

Bonds

Guidance

Emerging Markets

Eurozone

Futures

Commodities

Forex

Treasuries

Global

Federal Reserve

Pre-Market Outlook

General

AMZN

EXPE

GOOG

GOOGL

MSFT

ORCL

Stock Market Today: S&P 500, Nasdaq Futures Down As Tech Stocks Fall— Tesla, Expedia, IREN, Archer Aviation In Focus (UPDATED)

Tech Bull Dan Ives is dismissing fears of an AI-driven tech bubble, arguing instead that the market is in the early stages of a &#8220;Fourth Industrial Revolution&#8221; that has years left to run.



<h2 class="wp-block-heading">Ives Sees Nasdaq At 30,000</h2>



In a recent interview, the Wedbush Securities analyst stated he sees a clear path for the market to surge significantly higher.



&#8220;The reality is… we&#8217;re going to see NASDAQ 25,000, NASDAQ 30,000,&#8221; Ives declared, attributing the climb to a &#8220;profit wildfire&#8221; spreading from AI leaders to the entire economy.



Ives, speaking with Anthony Pompliano, the founder &amp; CEO of Professional Capital Management, was adamant that the current boom is not a bubble, countering bearish claims.



&#8220;I think many have been saying that for the last three years. They&#8217;ll say it for the next one, two years. It all comes down to numbers,&#8221; he said, citing strong earnings from Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MSFT">MSFT</a>) and Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/PLTR">PLTR</a>) as validation.



See Also: <a href="https://www.benzinga.com/markets/equities/25/11/48645886/dan-ives-slams-michael-burry-for-betting-against-messi-of-ai-palantir-says-he-is-dead-wrong">Dan Ives Slams Michael Burry For Betting Against &#8216;Messi Of AI&#8217; Palantir, Says He Is &#8216;Dead Wrong&#8217;</a>



<h2 class="wp-block-heading">The AI &#8216;Capex Super Cycle&#8217; Is Just Beginning</h2>



He argued that investors are underestimating the scale of spending on the new technology. &#8220;You have more spending in the next two years than the last 10 years combined,&#8221; Ives said, highlighting a massive &#8220;capex super cycle&#8221; from Big Tech.



However, Thomas Shipp, the head of equity at LP Financial, urged caution, suggesting this spending spree isn&#8217;t as straightforward as it appears and questioned the quality and sustainability of these &#8220;staggering&#8221; investments.



&#8220;A more pessimistic take would be that this circular financing is being used to buttress the financial position of unprofitable business lines to maintain demand for chips,&#8221; he stated.



Meanwhile, Gordon Johnson of GLJ Research also questioned the &#8220;AI bulls,&#8221; comparing China&#8217;s investment in data centers with that of the U.S.



<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">Question for the AI bulls. The US currently has ~5,426 data centers, and is investing billions to build more. China has ~449 data centers, AND IS NOT ADDING. If AI is real, why isn&#39;t China building 000s of data centers every month (which they could CLEARLY do)? Thoughts? <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a>&mdash; Gordon Johnson (@GordonJohnson19) <a href="https://twitter.com/GordonJohnson19/status/1986469261028827638?ref_src=twsrc%5Etfw">November 6, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">Ives Sees Favorable Macro Environment For Stocks</h2>



When asked about the macroeconomic picture, Ives predicted a favorable environment for stocks, including imminent rate cuts from the Federal Reserve.



&#8220;It&#8217;s two to three years left in this tech bull market,&#8221; he stated. &#8220;You have seven trillion on the sidelines. You have a fourth industrial revolution that&#8217;s playing out across the board.&#8221;



Ives advised investors to look beyond the obvious winners, focusing on the &#8220;second, third, fourth derivatives&#8221; of AI, including cybersecurity, database companies, and infrastructure plays, to find the next wave of growth.



Here&#8217;s a list of some AI-linked exchange-traded funds that investors could consider.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>ETF Name</td><td>YTD Performance</td><td>One Year Performance</td></tr><tr><td>iShares US Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IYW">IYW</a>)</td><td>25.42%</td><td>24.09%</td></tr><tr><td>Fidelity MSCI Information Technology Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FTEC">FTEC</a>)</td><td>22.91%</td><td>22.22%</td></tr><tr><td>First Trust Dow Jones Internet Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FDN">FDN</a>)</td><td>11.19%</td><td>15.05%</td></tr><tr><td>iShares Expanded Tech Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IGM">IGM</a>)</td><td>26.56%</td><td>26.51%</td></tr><tr><td>iShares Global Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IXN">IXN</a>)</td><td>25.19%</td><td>24.44%</td></tr><tr><td>Defiance Quantum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/QTUM">QTUM</a>)</td><td>33.99%</td><td>66.15%</td></tr><tr><td>Roundhill Magnificent Seven ETF (BATS:<a class="ticker" href="https://www.benzinga.com/quote/MAGS">MAGS</a>)</td><td>22.21%</td><td>28.32%</td></tr></tbody></table></figure>



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Dan Ives Says AI Stocks Will EXPLODE Higher" width="500" height="281" src="https://www.youtube.com/embed/UXkpY4NxokE?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/11/48612258/michael-burry-warns-ai-boom-is-repeat-of-2000s-dot-com-bust-after-revealing-1-billion-bearish-bet-on-pltr-nvda" target="_blank" rel="noreferrer noopener">Michael Burry Warns AI Boom Is Repeat Of 2000's Dot-Com Bust After Revealing $1 Billion Bearish Bet On PLTR, NVDA</a></li>
</ul>



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



Photo courtesy: JHVEPhoto / Shuttesstock

FTEC

MAGS

QTUM

Dan Ives Sees Nasdaq At 30,000 Points, Explaining Why AI Revolution Is Not Bubble: '2-3 Years Left' In Tech Bull Market

Leading cryptocurrencies retraced on Thursday, while the market mood fell back into the &#8220;Extreme Fear&#8221; category.



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 8:50 p.m. ET)</th></tr></thead><tbody><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>-2.26%</td><td>$101,065.30</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>-3.10%</td><td>$3,296.29</td></tr><tr><td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-5.90%</td><td>$2.19</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-3.79%</td><td>$154.94</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-2.54%</td><td>$0.1614</td></tr></tbody></table></figure>



<h2 class="wp-block-heading">Cryptos Lose Momentum</h2>



Bitcoin's relief rally was short-lived as the apex cryptocurrency fell back to an intraday low of $100,336.87. Ethereum, XRP and Solana also gave up their previous day&#8217;s gains.



Interestingly, JPMorgan analysts were optimistic about the asset in the near term, predicting it could <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48693117/jpmorgan-says-bitcoin-has-67-upside-sees-170000-within-next-6-months">rise to $170,000 </a>within 6 to 12 months.



Overall sentiment stayed subdued, with BTC and ETH still 18% and 31%, respectively, below their all-time highs set earlier this year.



In the past 24 hours, 196,202 traders were liquidated, with total cryptocurrency liquidations at $562.82 million, <a href="https://www.coinglass.com/LongShortRatio">according </a>to Coinglass. Nearly $370 million in bullish longs was wiped out.



Bitcoin's open interest rose by 0.61% in the last 24 hours. A rise in open interest, coming alongside a dip in spot price, typically indicates that new short positions are getting opened.



The market switched back to "Extreme Fear" mode, <a href="https://alternative.me/crypto/fear-and-greed-index/#google_vignette">according </a>to the Crypto Fear &amp; Greed Index.



Top Gainers (24 Hours)&nbsp;



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency (Market Cap&gt;$100 M)</th><th>Gains +/-</th><th>Price (Recorded at 8:50 p.m. ET)</th></tr></thead><tbody><tr><td>DeAgent AI (AIA )&nbsp;&nbsp;&nbsp;</td><td>+377.26%</td><td>$7.84</td></tr><tr><td>Filecoin (FIL)&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+55.53%</td><td>$2.11</td></tr><tr><td>Arweave (AR )&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+39.78%</td><td>$5.89 </td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.38 trillion, falling 1.67% over the previous day.



<h2 class="wp-block-heading">Stocks Retreat Amid Skepticism Over Rate Cuts</h2>



Stocks came under pressure yet again on Thursday. The Dow Jones Industrial Average fell 398.70 points, or 0.84%, to end at 46,912.30. The S&amp;P 500 slid 1.12%, to finish at 6,720.32, while the tech-focused Nasdaq Composite closed down 1.9% to end at 23,053.99.



The decline comes after Chicago Federal Reserve President Austan Goolsbee <a href="https://www.cnbc.com/2025/11/06/chicago-feds-goolsbee-says-hes-cautious-about-further-rate-cuts-during-shutdown.html">expressed doubt about further rate cuts</a> in a CNBC interview, citing the prolonged government shutdown as the reason for lack of recent inflation data.



Investors were also keeping a tight eye on the Supreme Court&#8217;s decision on President Donald Trump&#8217;s tariffs, with the <a href="https://www.benzinga.com/news/legal/25/11/48692983/supreme-court-trump-tariffs-ruling-odds-ieepa-refunds">majority of justices looking skeptical </a>about his emergency powers



<h2 class="wp-block-heading">Watch Out For This Level</h2>



Arthur Azizov, founder and investor at B2 Ventures, admitted in a note to Benzinga that Bitcoin's decline is affecting broader cryptocurrency sentiment.



"Despite ongoing liquidity shortages and heightened investor caution, I believe the $100,000 level is likely to hold as Bitcoin's base in the near term," the analyst projected.



Azizov added that If the Fed really "resumes money printing earlier than expected," it could be a bullish signal for risk assets in the long run.



Widely followed cryptocurrency analyst Ali Martinez highlighted that Bitcoin has historically rebounded when realized losses fall below 12%.



"It's now at -11%, signaling a potential rebound ahead," Martinez predicted.



<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">In the past two years, Bitcoin <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> has always rebounded when traders' realized losses fell below -12%. It's now at -11%, signaling a potential rebound ahead! <a href="https://t.co/CB2ivOpJSr">pic.twitter.com/CB2ivOpJSr</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1986531030082461906?ref_src=twsrc%5Etfw">November 6, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Read Next:&nbsp;&nbsp;&nbsp;&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48698794/cathie-woods-new-bitcoin-target-only-1-2-million-by-2030-and-stablecoins-are-to-blame">Cathie Wood&#8217;s New Bitcoin Target: &#8216;Only&#8217; $1.2 Million By 2030—And Stablecoins Are To &#8216;Blame&#8217;</a></li>
</ul>



Photo courtesy: Shutterstock

Cryptocurrency

$DOGE

$ETH

$SOL

$XRP

Bitcoin, Ethereum, XRP, Dogecoin Reverse Gains Amid Fed Rate Cut Uncertainty: Analyst Sees 'Potential Rebound' For BTC

Sen. Rand Paul (R-Ky.) issued a stark warning about the growing impact of tariffs on American farmers, calling them an unconstitutional exercise of presidential power that needs to be brought down, while urging the Supreme Court to intervene.



<h2 class="wp-block-heading">No Taxes Without Representation</h2>



On Wednesday, Paul criticized the use of executive authority to impose tariffs, arguing that such actions violate the Constitution's separation of powers, while appearing on Fox Business&#8217; &#8220;Varney &amp; Co.&#8221;



&#8220;I want to see the Constitution have meaning,&#8221; Paul said, adding that according to the Constitution, &#8220;taxes originate in the House,&#8221; and tariffs are a tax. &#8220;Anybody who tries to say tariffs are not a tax [are] just not serious.&#8221;



See Also: <a href="https://www.benzinga.com/news/legal/25/11/48692983/supreme-court-trump-tariffs-ruling-odds-ieepa-refunds">Supreme Court May Sink Trump&#8217;s Tariffs—But Don&#8217;t Expect Them To Disappear</a>



Paul emphasized that the Founding Fathers deliberately ensured that taxes were decided by Congress. &#8220;We fought the Revolution over taxation without representation,&#8221; he said, adding that &#8220;A president cannot levy taxes without the approval of Congress.&#8221;



The Kentucky senator said he expects the Supreme Court to strike down the tariffs, not as a political rebuke of President Donald Trump, but to preserve constitutional order. &#8220;I think the Supreme Court is gonna strike this down, and it&#8217;s not for any personal vendetta against the president,&#8221; he said. 



<h2 class="wp-block-heading">There Is &#8216;Farmageddon&#8217; Out There</h2>



He warned that the economic fallout of the tariffs is already visible across America's agricultural heartland. &#8220;Right now, farmers are faced with chaos,&#8221; he said. &#8220;There is a Farmageddon out there&#8230; particularly if you happen to be in soybeans. This year, the soybean crop is going to be largely lost.&#8221;



Paul concluded by expressing concern over growing financial distress in the farm sector, saying, &#8220;I am worried how deep this could get.&#8221;



<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">I told <a href="https://twitter.com/Varneyco?ref_src=twsrc%5Etfw">@Varneyco</a> Obamacare subsidies are driving up premiums, tariffs are unconstitutional taxes, and farmers are facing "Farmageddon." Let's fix costs through market power, not government overreach. <a href="https://t.co/gcWDQptPiO">pic.twitter.com/gcWDQptPiO</a>&mdash; Rand Paul (@RandPaul) <a href="https://twitter.com/RandPaul/status/1986470997113856155?ref_src=twsrc%5Etfw">November 6, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">Soybean Farmers Became Scapegoats In US-China Trade Tussle</h2>



American soybean farmers <a href="https://www.benzinga.com/markets/macro-economic-events/25/09/47637553/american-soybean-farmers-become-scapegoat-in-us-china-trade-tussle-plead-trump-for-bailout-unless-something-miraculous">became unwilling pawns</a> in the trade war between the U.S. and China after the latter ceased purchases of beans from the U.S., choosing to source the commodity from Brazil instead, in retaliation against Trump&#8217;s tariffs. 



Late last month, China <a href="https://www.benzinga.com/markets/commodities/25/10/48485186/china-reportedly-resumes-us-soybean-purchases-before-trump-xi-meeting">reportedly resumed purchases</a> of American soybeans, ahead of the high-stakes summit between Trump and Chinese President Xi Jinping. 



Read More: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/11/48678776/trump-will-use-supreme-courts-tariff-ruling-as-scapegoat-for-recession-says-economist-peter-schiff-court-is-doing-him-a-favor">Trump Will Use Supreme Court&#8217;s Tariff Ruling As &#8216;Scapegoat&#8217; For Recession, Says Economist Peter Schiff: Court Is Doing Him &#8216;A Favor&#8217;</a></li>
</ul>



Photo courtesy: Shutterstock

Politics

Rand Paul Warns Of 'Farmageddon' As Tariffs Hit Farmers, Says Supreme Court Must Rein In Trump's Executive Tax Power

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TSLA">TSLA</a>) CEO Elon Musk is ramping up efforts to build an <a href="https://www.benzinga.com/markets/tech/25/09/47537686/elon-musk-announces-tesla-ai5-chip-design-review-success-amid-global-semiconductor-competition">in-house artificial intelligence chip</a>, the AI5, but Gene Munster warns that moving away from Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NVDA">NVDA</a>) has proven far more difficult than Musk's ambitious projections suggest.



<h2 class="wp-block-heading">Elon Musk Says He ‘Dreams About Chips'</h2>



At Tesla's annual shareholder meeting on Thursday, Musk said he is "super hardcore on chips right now," underscoring that developing a custom AI chip is key to advancing Tesla's robotics and self-driving programs.



He stated that Tesla's upcoming AI5 chip will deliver roughly comparable performance to Nvidia's new Blackwell chip while using only one-third of the power and costing less than 10% as much.



Musk said Tesla's advantage comes from building chips specialized for its software stack rather than catering to a wide range of applications, as Nvidia must do.



He also highlighted Tesla's use of integer-based inference — which he described as more power and silicon-efficient than floating-point operations — though it requires specialized training.



The AI5 chip will be manufactured by both Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/TSM">TSM</a>) and Samsung Electronics Co. (OTC:<a class="ticker" href="https://www.benzinga.com/quote/SSNLF">SSNLF</a>), with production spread across facilities in Taiwan, South Korea, Arizona and Texas.



Musk added that Tesla already has plans for the AI6 chip, expected to double performance within a year of AI5's rollout.



See Also:&nbsp;<a href="https://www.benzinga.com/markets/tech/25/10/48342136/teslas-1-trillion-illusion-elon-musks-pay-package-and-the-robotaxi-myth" target="_blank" rel="noreferrer noopener">Tesla&#8217;s $1 Trillion Illusion: Elon Musk&#8217;s Pay Package And The Robotaxi Myth</a>



<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">ELON MUSK: We believe the AI5 chip will be roughly comparable performance to an NVIDIA Blackwell, and at much less than 10% of the cost Transcription: I&#39;m super hardcore on chips right now as you may be able to tell. I have chips on the brain. I dream about chips, Literally!… <a href="https://t.co/O2yrmHOhN9">pic.twitter.com/O2yrmHOhN9</a>&mdash; X Freeze (@XFreeze) <a href="https://twitter.com/XFreeze/status/1986596668431851649?ref_src=twsrc%5Etfw">November 7, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">Gene Munster Cautions Against Underestimating Nvidia</h2>



Deepwater Asset Management managing partner Munster reacted to Musk's comments, saying Tesla's goal to move away from Nvidia is easier said than done.



"Musk says they're building their own chip for inference, reducing the need for Nvidia GPUs," Munster noted. "He's talked about moving away from $NVDA before and it's proven extremely hard to do."



He added that while Tesla could work with Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/INTC">INTC</a>) or build a large chip fabrication plant, "they have better places" to spend $20 billion.



<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">Musk says they're building their own chip for inference, reducing the need for <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a> GPUs. It'll be made in Taiwan and the U.S, maybe work with <a href="https://twitter.com/search?q=%24INTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$INTC</a> or they will build a &quot;giantaic chip fab&quot;. My take: He's talked about moving away from <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a> before and it's proven extremely…&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1986563804776349954?ref_src=twsrc%5Etfw">November 6, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">Cathie Wood Backs Tesla's AI Ambitions</h2>



Earlier this week, ARK Invest CEO Cathie Wood also weighed in, calling Tesla's AI5 <a href="https://www.benzinga.com/markets/tech/25/11/48644724/cathie-wood-joins-elon-musk-and-brian-roemmele-in-hyping-teslas-ai5-chip-it-will-be-a-big-deal">chip a potential game-changer </a>after tech advisor Brian Roemmele said it could be "40 times faster" and "10 times cheaper per inference" than Nvidia's hardware.



"If Brian Roemmele thinks Tesla's A15 chip will be a big deal, then it will be a big deal," Wood wrote on X at the time.



Musk later confirmed that sample chips could arrive in 2026, with full-scale production likely in 2027.



Last month, Tesla reported <a href="https://www.benzinga.com/markets/earnings/25/10/48367296/tesla-q3-highlights-record-ev-deliveries-falling-profits-ai-ambitions-ahead">third-quarter revenue</a> of $28.1 billion, a 12% year-over-year increase that beat Wall Street's consensus estimate of $26.24 billion.



The stock closed at $445.91 on Thursday, down 3.54%, before rising 1.57% to $452.90 in after-hours trading. According to Benzinga's Edge Stock Rankings, Tesla continues to show a strong upward trend across short, medium and long-term periods. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here for a detailed look</a> at how it compares with its peers and competitors.



<figure class="wp-block-image aligncenter size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06211708/Screenshot-2025-11-07-at-7.45.47%E2%80%AFAM.png" alt="" class="wp-image-1152813"/></a></figure>



Read More:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/10/48296385/tesla-investor-ross-gerber-says-super-sad-to-see-federal-ev-subsidies-end-credits-created" target="_blank" rel="noreferrer noopener">Tesla Investor Ross Gerber Says ‘Super Sad&#8217; To See Federal EV Subsidies End: ‘Credits Created…&#8217;</a></li>
</ul>



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



Photo courtesy: Shutterstock

INTC

SSNLF

Gene Munster Says Elon Musk Has Talked About Moving Away From Nvidia Before, But It's 'Proven Extremely Hard To Do' As Tesla Doubles Down On AI5 Chip

Opendoor Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/OPEN">OPEN</a>) reported financial results for the third quarter after the market close on Thursday. Here&#8217;s a rundown of the report.



<ul class="wp-block-list">
<li>OPEN is moving after hours. <a href="https://www.benzinga.com/quote/OPEN" target="_blank" rel="noreferrer noopener">See what is driving the move here.</a></li>
</ul>



Q3 Highlights: Opendoor reported third-quarter revenue of $915 million, beating <a href="http://benzinga.com/quote/open/earnings" target="_blank" rel="noreferrer noopener">analyst estimates</a> of $849.59 million, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>. The company reported a third-quarter loss of eight cents per share, missing estimates for a loss of seven cents per share.



Opendoor said it purchased 1,169 homes in the quarter, down from 3,504 year-over-year. The company also sold 2,568 homes, down from 3,615 in the prior year&#8217;s quarter.



&#8220;We are refounding Opendoor as a software and AI company. In my first month as CEO, we&#8217;ve made a decisive break from the past — returning to the office, eliminating reliance on consultants, and launching over a dozen AI-powered products and features that demonstrate our renewed velocity,&#8221; said Kaz Nejatian, CEO of Opendoor.



&#8220;Our business will succeed by building technology that makes selling, buying, and owning a home easier and more joyful — not from charging high spreads and hoping the macro saves us.&#8221;



What&#8217;s Next: Opendoor said it expects revenue in the fourth-quarter to decrease 35% quarter-over-quarter as the company rebuilds Opendoor. The company also anticipates a fourth-quarter adjusted EBITDA loss in the &#8220;high&nbsp;$40 millions&nbsp;to mid&nbsp;$50 millions.&#8221;



Opendoor executives will further discuss the company&#8217;s quarterly results on an earnings call at 5 p.m. ET. A <a href="https://www.youtube.com/watch?v=G2CrNSYVNyQ">link</a> to the call has been provided below.



OPEN Price Action: <a href="http://benzinga.com/quote/OPEN" target="_blank" rel="noreferrer noopener">Opendoor shares</a> were down 10.21% in after-hours, trading at $5.84 at the time of publication on Thursday, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/earnings/25/11/48696044/opendoor-brings-earnings-and-chill-to-robinhood-a-livestream-for-retail-investors">Opendoor Brings &#8216;Earnings And Chill&#8217; To Robinhood: A Livestream for Retail Investors</a></li>
</ul>



Image: Around the World Photos/Shutterstock.com



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Opendoor Q3 Earnings Call 2025 &#x7C; $OPEN &#x7C; &#x1f534; WATCH LIVE" width="500" height="281" src="https://www.youtube.com/embed/G2CrNSYVNyQ?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>

After-Hours Center

Real Estate

Opendoor Q3 Earnings: 'We Are Refounding Opendoor As A Software And AI Company'

Robinhood Markets, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/HOOD">HOOD</a>) reported record revenue of $1.27 billion for the third quarter, representing 100% <a href="https://www.benzinga.com/markets/earnings/25/11/48671642/robinhood-q3-highlights-double-beat-record-revenue-prediction-markets-soar">year-over-year growth.&nbsp;</a>



Analysts are weighing in on the brokerage's blockbuster quarter.&nbsp;



<ul class="wp-block-list">
<li>HOOD stock is moving. <a href="https://www.benzinga.com/quote/HOOD">See the real-time price action here.&nbsp;</a></li>
</ul>



<h3 class="wp-block-heading">Expert Ideas</h3>



In a note titled "No Signs of Slowing Down; Another Record Q," Cantor analyst Brett Knoblauch highlighted the exponential growth of Robinhood's prediction markets business — nearing a $300 million run-rate and making it the company's 11th product area to surpass $100 million in annualized revenue in just one year since launch.



"What we find impressive is that within a year of launching prediction markets, HOOD&#8217;s prediction



business is now essentially the same size as its equities trading business," Knoblauch wrote in the note.&nbsp;



He also noted a major rebound in the firm's crypto business, with Robinhood app crypto volumes up 40.6% quarter over quarter and Bitstamp volumes up 70%.



Read Next: <a href="https://www.benzinga.com/markets/earnings/25/11/48673135/joby-stock-takes-off-after-massive-q3-revenue-beat-what-to-know">Joby Stock Takes Off After Massive Q3 Revenue Beat: What To Know</a>



Cantor maintained an Overweight rating on HOOD and raised the price target from $130 to $155.



Goldman Sachs analyst James Yaro also marveled at Robinhood's growth in prediction markets, which doubled the previous quarter's pace and offer significant upside to 2026 estimates. 



Yaro highlighted Robinhood's commitment to rolling out even more new business lines and incremental revenue streams, driving the firm's valuation higher.&nbsp;



Goldman Sachs maintained a Buy rating on Robinhood shares and raised its price target <a href="https://www.benzinga.com/markets/earnings/25/11/48671642/robinhood-q3-highlights-double-beat-record-revenue-prediction-markets-soar">from $170 to $181</a>. 



<h3 class="wp-block-heading">Price Targets Raised</h3>



These analysts also raised price targets following Robinhood's Q3 print:&nbsp;



<ul class="wp-block-list">
<li>Barclays analyst Benjamin Budish maintained Robinhood with an Overweight and raised the price target from $162 to $168.</li>



<li>Mizuho analyst Dan Dolev maintained an Outperform rating and raised the price target from $145 to $172.</li>



<li>Keefe, Bruyette &amp; Woods maintained Robinhood with a Market Perform and raised the price target from $121 to $135.</li>
</ul>



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/movers/25/11/48597210/iren-and-cipher-bag-billion-dollar-ai-deals-whats-next">IREN, Cipher Bag Billion-Dollar AI Deals: Which Company Is Next?</a></li>
</ul>



Photo: Shutterstock&nbsp;

Fintech

Price Target

HOOD

Robinhood's Growth 'Shows No Signs Of Slowing Down'

Wall Street repriced a $500 billion event in a single day, and most retail investors completely missed it.



When the <a href="https://www.scotusblog.com/2025/10/trumps-tariffs-face-supreme-court-scrutiny/" rel="nofollow">Supreme Court questioned Trump administration lawyers</a> about tariff legality on November 5th, something strange happened in financial markets. Treasury bond yields (the interest rate the government pays to borrow money) spiked to their highest level in a month. At the same time, <a href="https://polymarket.com/event/will-the-supreme-court-rule-in-favor-of-trumps-tariffs" rel="nofollow">prediction markets where traders bet real money crashed</a> from 50% odds that Trump&#8217;s tariffs would survive to just 30% by day&#8217;s end.



But this part should make every investor pay attention: Hedge funds have been buying up hundreds of millions of dollars in <a href="https://finance.yahoo.com/news/wall-street-bets-tariff-refunds-195136204.html" rel="nofollow">tariff refund claims from struggling importers</a>, paying just 20 to 40 cents for every dollar the government might owe back.



More than just speculation, this is smart money making a calculated bet with real capital. The implications for your portfolio, your mortgage rate, and your monthly grocery bill are bigger than you might think.



<h2 class="wp-block-heading">Markets Fear Trump Losing, Not Winning</h2>



In reality, markets aren&#8217;t worried that Trump might win his tariff case at the Supreme Court. They&#8217;re worried he might lose it.



Think about it like this: Imagine your employer suddenly announced they might have to refund half of everyone&#8217;s paychecks from the past year, with interest. Where would that money come from? They&#8217;d have to borrow it, and fast.



That&#8217;s the situation facing the U.S. Treasury. Since April 2025, the government has collected roughly $89 billion specifically from Trump&#8217;s tariffs imposed under emergency powers. If the Supreme Court rules these tariffs were illegal, every penny has to be refunded with interest calculated from the day each payment was made.



By the time a Supreme Court decision comes down (likely before the end of 2025 or early 2026), that bill could exceed $500 billion when you include interest compounding at current Treasury rates of about 5-6% annually.



<h2 class="wp-block-heading">How Hedge Funds Are Profiting</h2>



This is where it gets interesting for regular investors trying to understand what the smart money is doing.



Companies that import goods (a furniture retailer bringing in sofas from Vietnam or an electronics distributor shipping tablets from China) have been paying these tariffs for months. Many of these businesses are cash-strapped. They need money today, not in 12-24 months when the government might issue refunds.



Enter the hedge funds. Firms like Jefferies Financial Group and Oppenheimer &amp; Co. are acting as brokers in a brand new market: <a href="https://www.orrick.com/en/Insights/2025/09/Preserving-and-Purchasing-Tariff-Refund-Claims" rel="nofollow">tariff refund claims</a>. They connect hedge funds willing to pay immediate cash with importers who need money now.



The math works like this: If an importer paid $1 million in tariffs and the Supreme Court strikes them down, the government owes that $1 million back plus interest. Let&#8217;s say $1.05 million after a year. A hedge fund might offer the importer $400,000 today (<a href="https://themacrocompass.substack.com/p/supreme-court-vs-tariffs-a-guide" target="_blank" rel="noreferrer noopener nofollow">40 cents on the dollar</a>). The importer gets immediate cash to cover operating expenses. The hedge fund waits for the government refund and pockets the difference: $650,000 profit on a $400,000 investment.



Wall Street is willing to deploy real capital into these trades in the <a href="https://www.wttlonline.com/stories/tariff-refund-preparations,14421" target="_blank" rel="noreferrer noopener nofollow">$2 million to $20 million range</a>. That tells you how seriously they&#8217;re taking the possibility of tariff invalidation.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><thead><tr><th>Treasury</th><th>Yield (%)</th><th>Change (%)</th><th>Interpretation</th></tr></thead><tbody><tr><td>US 1-MO</td><td>3.919</td><td>-0.021</td><td>Slight retreat</td></tr><tr><td>US 2-MO</td><td>3.939</td><td>-0.013</td><td>Slight retreat</td></tr><tr><td>US 3-MO</td><td>3.885</td><td>-0.005</td><td>Essentially flat</td></tr><tr><td>US 4-MO</td><td>3.870</td><td>-0.008</td><td>Slight retreat</td></tr><tr><td>US 6-MO</td><td>3.823</td><td>+0.021</td><td>Minor rise</td></tr><tr><td>US 1-YR</td><td>3.705</td><td>+0.032</td><td>Starting to climb</td></tr><tr><td>US 2-YR</td><td>3.632</td><td>+0.048</td><td>Notable rise</td></tr><tr><td>US 3-YR</td><td>3.646</td><td>+0.055</td><td>Notable rise</td></tr><tr><td>US 5-YR</td><td>3.764</td><td>+0.063</td><td>Sharp rise</td></tr><tr><td>US 7-YR</td><td>3.950</td><td>+0.066</td><td>Sharp rise</td></tr><tr><td>US 10-YR</td><td>4.159</td><td>+0.068</td><td>Sharp rise (one-month high)</td></tr><tr><td>US 20-YR</td><td>4.719</td><td>+0.072</td><td>Steepest rise</td></tr><tr><td>US 30-YR</td><td>4.739</td><td>+0.068</td><td>Steepest rise</td></tr></tbody></table><figcaption class="wp-element-caption">U.S. Treasury yields, November 5, 2025. Short-term yields (1-4 months) fell modestly while long-term yields (5+ years) rose sharply, with the 10-year and 20-year posting the largest increases. This &#8220;steepening&#8221; signals fiscal stress concerns among bond investors.</figcaption></figure>



<h2 class="wp-block-heading">Why Your &#8220;Safe&#8221; Bonds Aren&#8217;t Acting Safe Anymore</h2>



This story connects directly to your portfolio.



Most investors learned a simple rule: When the stock market gets scary, bonds provide safety. That&#8217;s why financial advisors love the <a href="https://corporate.vanguard.com/content/corporatesite/us/en/corp/articles/global-60-40-portfolio-steady-as-it-goes.html" rel="nofollow">60/40 portfolio</a> (60% stocks for growth, 40% bonds for stability).



But something unusual is happening right now, and it has everything to do with this tariff case.



Normally, when markets expect bad economic news, Treasury bond prices rise and yields fall because investors rush to the safety of U.S. government debt. It&#8217;s called a flight to safety.



But in this tariff situation, the opposite is happening. Treasury yields are rising (which means bond prices are falling) even though the expected outcome (tariff removal) should be good for the economy.



Why? Because investors are looking past the initial positive effects and seeing a fiscal nightmare.



If the Supreme Court invalidates the tariffs, the government loses about $89-150 billion per year in revenue going forward, while simultaneously owing $500+ billion in refunds from past collections. That&#8217;s a double punch to the federal budget.



To cover this unexpected hole, the Treasury Department has to borrow more money by issuing more bonds. When the supply of bonds increases faster than demand, bond prices fall and yields (interest rates) rise. Basic supply and demand.



Think of it like a company announcing a massive secondary stock offering: If Apple suddenly announced it&#8217;s issuing 500 million new shares to raise emergency cash, the current share price would drop (because there are far more shares available than buyers willing to buy them at the current price). The same principle applies when the Treasury floods the bond market.



<h2 class="wp-block-heading">The Hidden Foreign Investor Angle</h2>



There&#8217;s yet this missing detail, but it explains a lot about why this is happening now: Japanese investors have been big sellers of U.S. Treasury bonds in recent months.



In April alone, <a href="https://www.ainvest.com/news/overseas-investors-sell-46-848-billion-treasuries-tariff-uncertainty-2506/" target="_blank" rel="noreferrer noopener nofollow">overseas investors (primarily from Japan) sold about $46.8 billion</a> in long-dated Treasury bonds. Why does this matter?



Japanese investors have been borrowing money in yen (where interest rates are near zero) and investing it in higher-yielding U.S. Treasuries to pocket the difference. It&#8217;s called a carry trade. But tariff uncertainty creates risk: If trade tensions escalate or currency markets get volatile, these investors need to sell their Treasury holdings quickly to repay their yen loans.



When large foreign investors pull back from buying U.S. bonds, the Treasury has to offer higher interest rates (yields) to attract new buyers. That&#8217;s another reason yields have been climbing.



<h2 class="wp-block-heading">What This Means for Your Real Life</h2>



Let me make this concrete with how it affects your actual finances:



<ul class="wp-block-list">
<li>Your grocery bill: If tariffs are struck down, import costs fall, and eventually prices at Walmart, Target, and your local grocery store should come down. This is the good news.</li>



<li>Your 401(k): Your stock holdings (especially if you own companies that rely on imports like retailers, tech companies, manufacturers) could see a rally as their costs decrease. But your bond holdings will likely fall in value as yields rise. The traditional bonds-protect-you-when-stocks-fall rule might not work this time.</li>



<li>Your mortgage rate: Treasury yields spike because the government needs to borrow $500 billion unexpectedly, mortgage rates could rise even though the underlying economy is doing okay. If you&#8217;re planning to buy a house or refinance, this is the dynamic to watch. Mortgage rates tend to follow the 10-year Treasury yield.</li>



<li>Your &#8220;safe&#8221; bond fund: If you own bond mutual funds or bond ETFs in your retirement account, understand that they&#8217;re acting more like risk assets right now, not safe havens. When yields rise, existing bond prices fall. A 1% rise in yields can cause a 7-10% drop in long-term bond prices.</li>
</ul>



<h2 class="wp-block-heading">The Winners and Losers</h2>



If the Supreme Court invalidates Trump&#8217;s tariffs:



Winners:



<ul class="wp-block-list">
<li>Import-heavy retailers like Walmart, Target, Home Depot</li>



<li>Tech companies with complex supply chains like Apple and Dell</li>



<li>Consumers paying lower prices</li>



<li>Domestic manufacturers that use imported components</li>
</ul>



Losers:



<ul class="wp-block-list">
<li>U.S. steel and aluminum producers who benefited from tariff protection</li>



<li>Treasury bond holders as bond prices fall</li>



<li>The federal government&#8217;s fiscal position</li>



<li>Anyone planning to refinance their mortgage in the next 6-12 months</li>
</ul>



<h2 class="wp-block-heading">What You Can Actually Do About This</h2>



You probably can&#8217;t access those hedge fund tariff refund trades at 20-40 cents on the dollar. Those $2-20 million deals are brokered by Jefferies and Oppenheimer to institutional money.



But you have real options.



If You Think Tariffs Get Struck Down



Certain stocks get an immediate boost when tariffs fall: Walmart, Target, Home Depot, Best Buy, Amazon. Any retailer or tech company heavy on imports.



The play: Add shares of retail-heavy ETFs like XRT (Retail ETF) (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XRT">XRT</a>) or consumer discretionary ETFs like XLY (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLY">XLY</a>) over the next few weeks. When the Supreme Court rules and tariffs fall, these stocks should pop. XLY carries a 0.10% expense ratio, XRT charges 0.39%.



The risk: If the Supreme Court upholds tariffs, you&#8217;re holding positions that sell off. Size accordingly.



If You Own Bond Funds



Remember how bond prices fall when yields rise? If you own bond mutual funds or bond ETFs, long-term Treasury bonds could decline 7-10% if yields climb further.



Two ways to protect yourself:



Move to short-duration Treasury ETFs like SHV (iShares Short Treasury Bond ETF), which holds only bonds maturing in less than one year. SHV has near-zero duration risk, meaning it barely moves when long-term yields spike. Currently yielding 4.29% with a 0.15% expense ratio.



For more aggressive protection, buy an inverse long-term Treasury ETF like PST (Inverse Long-Term Treasury ETF), which gains value when long-term Treasury yields rise and bond prices fall. The math: If you own $100,000 in long-term Treasury bonds and buy $20,000 of PST, a 1% yield increase that would normally hurt your bonds by $7,000 gets partially offset by PST gains. But inverse ETFs lose money when yields fall. This is a tactical hedge, not a buy-and-hold position. Exit it once the Supreme Court rules. PST charges 0.50%.



If You&#8217;re Planning to Buy a House or Refinance



Mortgage rates track the 10-year Treasury yield closely. If yields are rising due to tariff uncertainty, and the Supreme Court rules to invalidate tariffs, Treasury yields could fall as the fiscal panic subsides. That could mean lower mortgage rates in late 2025 or early 2026.



Wait for the Supreme Court decision before locking in a rate. If tariffs get struck down and yields fall, your mortgage rate could be 0.25-0.50% lower. On a $400,000 mortgage, a 0.25% rate difference saves roughly $60,000 over the life of the loan.



If You Have a 401(k) With Bond Allocation



If you own intermediate or long-term bond funds in your retirement account (AGG, BND, or your fund&#8217;s bond allocation), consider rotating into short-duration bond funds like SHV before the Supreme Court ruling.



You keep your fixed income allocation, but you sidestep the duration risk (the risk that bond prices fall as yields rise). Once the ruling drops and yields stabilize, rotate back to longer-duration bonds for better returns. You&#8217;re reducing unnecessary risk during a specific known event.



<h2 class="wp-block-heading">What Investors Should Watch</h2>



The Supreme Court hasn&#8217;t announced when it will rule, but based on prediction markets and legal analysts, expect a decision before year-end 2025 or early 2026.



Your early warning system: Watch the <a href="https://fred.stlouisfed.org/series/DGS10" rel="nofollow">10-year Treasury yield</a>. If it keeps climbing above 4.5% despite expectations that tariffs might fall, it means markets are pricing in bigger fiscal problems ahead. That&#8217;s the signal that the bond market is starting to worry about America&#8217;s ability to manage its debt load (a phenomenon old Wall Street hands call <a href="https://robinhood.com/us/en/learn/weekly-rundown/2oU9H2FvCaCPNjoXnU8BBQ/" rel="nofollow">bond vigilantes</a> enforcing fiscal discipline).



Trump imposed tariffs claiming they would strengthen America&#8217;s financial position. If the Supreme Court strikes them down, the fiscal fallout could be one of the biggest unplanned government expenses in modern history. According to the <a href="https://www.crfb.org/blogs/tariff-revenue-soars-fy-2025-amid-legal-uncertainty" rel="nofollow">Committee for a Responsible Federal Budget</a>, the government collected $195 billion in tariff revenue in fiscal year 2025. Your portfolio will feel it whether you&#8217;re paying attention or not. Wall Street already is.



Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga&#8217;s reporting and has not been edited for content or accuracy.

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Opinion

Supreme Court Could Blow Up Your 60/40 Portfolio By December — Here's How To Hedge

China&nbsp;has reportedly resumed its U.S. wheat purchases after a pause of more than a year, following the recent meeting between the leaders of the two countries, indicating a <a href="https://www.benzinga.com/news/politics/25/10/48519309/trump-concludes-amazing-meeting-with-xi-jinping-teases-pretty-soon-trade-deal">potential reduction</a> in trade tensions.



<h2 class="wp-block-heading">A &#8216;Political&#8217; Move By China?</h2>



China has procured two cargoes of U.S. wheat. The purchase of approximately 120,000 metric tons of U.S. wheat for December shipment includes one cargo of U.S. soft white wheat and one of spring wheat, Reuters reported on Thursday. This marks the first such purchase since October 2024 and is seen as a positive sign for the trade relationship between the two nations. 



Another encouraging development on the trade front is the resumption of U.S. sorghum exports to China following the meeting between Presidents Donald Trump and Chinese President Xi Jinping, the chairman of the U.S. Grains and BioProducts Council, Mark Wilson, confirmed to Reuters.



One Singapore-based grains trader, with direct knowledge of the deals, told the publication that the purchase is a &#8220;political&#8221; move to display China&#8217;s commitment to buying U.S. grains, despite U.S. wheat not being the &#8220;cheapest&#8221; option.



Ahead of the Trump-Xi meeting, there were also reports that China had <a href="https://www.benzinga.com/markets/commodities/25/10/48485186/china-reportedly-resumes-us-soybean-purchases-before-trump-xi-meeting">resumed the purchase </a>of soybeans ordered approximately 180,000 metric tons to be shipped in December. 



<h2 class="wp-block-heading">Trade Truce Brings Fragile Calm, Say Experts</h2>



The recent developments in the U.S.-China trade relationship have been significant. China&#8217;s decision to <a href="https://www.benzinga.com/news/politics/25/11/48645413/china-eases-us-tariffs-scraps-farm-levies-as-trump-cuts-fentanyl-duties-in-fresh-trade-truce">ease tariffs</a> on U.S. goods and scrap 15% farm levies following a trade truce with the U.S. has been a crucial step in improving trade relations. Meanwhile, the U.S. also slashed fentanyl tariffs on China by 10%.



Additionally, China&#8217;s agreement to&nbsp;<a href="https://www.benzinga.com/news/politics/25/11/48584226/us-says-china-agreed-to-effectively-eliminate-restrictions-on-rare-earth-mineral-exports-following-trade-truce">lift restrictions on rare earth mineral exports</a>&nbsp;as part of a broader trade deal has further indicated a willingness to cooperate with the U.S.



While both sides may be experiencing a brief respite, <a href="https://www.benzinga.com/news/politics/25/10/48542492/trump-xi-meeting-us-china-trade-deal-war-tariffs-fentanyl-nvidia-tech-taiwan-semiconductors-exports-rare-earths">underlying tensions</a> persist, as per experts. &#8220;The worst of the trade war appears to be behind us,&#8221; said Roman Ziruk, senior analyst at Ebury, &#8220;but the relationship will need to be managed carefully.&#8221; 



Louise Loo, head of Asia economics at Oxford Economics, cautioned that "the four Ts"—Taiwan, transshipments, TikTok, and technology—remain sticking points, making the current calm "more of a pause than a pivot."



READ NEXT:



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<li><a href="https://www.benzinga.com/markets/tech/25/11/48649638/china-reportedly-bans-foreign-ai-chips-in-state-funded-data-centers-in-a-blow-to-nvidia-amd">China Reportedly Bans Foreign AI Chips In State-Funded Data Centers In A Blow To Nvidia, AMD<span class="author" style="box-sizing: border-box; border: 0px solid rgb(229, 231, 235); --tw-scale-x: 1; --tw-scale-y: 1; --tw-pan-x: ; --tw-pan-y: ; --tw-pinch-zoom: ; --tw-scroll-snap-strictness: proximity; --tw-gradient-from-position: ; --tw-gradient-via-position: ; --tw-gradient-to-position: ; --tw-ordinal: ; --tw-slashed-zero: ; --tw-numeric-figure: ; --tw-numeric-spacing: ; --tw-numeric-fraction: ; --tw-ring-inset: ; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246/0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; --tw-blur: ; --tw-brightness: ; --tw-contrast: ; --tw-grayscale: ; --tw-hue-rotate: ; --tw-invert: ; --tw-saturate: ; --tw-sepia: ; --tw-drop-shadow: ; --tw-backdrop-blur: ; --tw-backdrop-brightness: ; --tw-backdrop-contrast: ; --tw-backdrop-grayscale: ; --tw-backdrop-hue-rotate: ; --tw-backdrop-invert: ; --tw-backdrop-opacity: ; --tw-backdrop-saturate: ; --tw-backdrop-sepia: ; --tw-contain-size: ; --tw-contain-layout: ; --tw-contain-paint: ; --tw-contain-style: ;"> </a></li>
</ul>



Image via Shutterstock



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

China Resumes US Wheat Purchases After Trump-Xi Talks As Trade Tensions Ease: Report

After a brief and cautious rebound on Wednesday, risk-off sentiment returned sharply on Thursday, with AI-linked stocks leading a broad selloff across Wall Street and renewed <a href="https://www.benzinga.com/crypto">pressure hitting crypto markets.</a>



Investors grappled with mixed corporate earnings and fresh concerns over the labor market after a private report showed a<a href="https://www.benzinga.com/markets/macro-economic-events/25/11/48691213/americas-layoff-crisis-deepens-as-ai-quietly-replaces-workers"> spike in layoffs last month. </a>Despite clear signs of a cooling job market, comments from Federal Reserve officials dampened hopes for further rate cuts. 



Chicago Fed President Austan Goolsbee said he remains hesitant to continue the easing cycle, while Cleveland Fed President Beth Hammack echoed that it's "not obvious" the Fed should cut again given the current inflation backdrop.



The S&amp;P 500 fell 1%, the Nasdaq 100 dropped 1.8%, and the Dow Jones Industrial Average lost 0.9%. All major sectors traded lower except energy.



In earnings news, Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/HOOD">HOOD</a>) plunged nearly 10%, on track for its worst day since April, despite beating Wall Street expectations last quarter. The move extends a recent trend of strong results sparking weak price reactions among high-flying stocks such as Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/PLTR">PLTR</a>) and Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AMD">AMD</a>). Palantir slumped for a third straight session and is now down roughly 15% since Monday's close.



QUALCOMM Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/QCOM">QCOM</a>) also topped estimates but slid about 5% after management guided for slightly weaker licensing revenue ahead. Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NVDA">NVDA</a>) dropped 3% after CEO Jensen Huang warned that the U.S. risks falling behind China in the AI race.



In crypto markets, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 1.7% to around $101,000, resuming its decline after a short-lived pause. Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) dropped 4%.



<h2 class="wp-block-heading">Thursday&#8217;s Performance In Major US Indices, ETFs</h2>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Major Indices</td><td>Price</td><td>1-day %Chg</td></tr><tr><td>Dow Jones</td><td>46,887.79</td><td>-0.9%</td></tr><tr><td>S&amp;P 500</td><td>6,725.24</td><td>-1.0%</td></tr><tr><td>Nasdaq 100</td><td>25,155.47</td><td>-1.8%</td></tr><tr><td>Russell 2000</td><td>2,419.30</td><td>-1.8%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 12:20 p.m. ET</figcaption></figure>



According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:



<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/VOO">VOO</a>) fell 1.1% to $615.85.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DIA">DIA</a>) fell 1% to $468.69.</li>



<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/QQQ">QQQ</a>)&nbsp;dropped 1.8% to $611.88.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IWM">IWM</a>) sunk 1.8% to $240.41.</li>



<li>The&nbsp;Energy&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLE">XLE</a>) outperformed, up 1%; the&nbsp;Consumer Discretionary&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLY">XLY</a>) lagged, down 2.6%.</li>
</ul>



<h2 class="wp-block-heading">Thursday&#8217;s Earnings Movers</h2>



<ul class="wp-block-list">
<li>Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/HOOD">HOOD</a>) </li>



<li>QUALCOMM Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/QCOM">QCOM</a>)</li>



<li>IonQ Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IONQ">IONQ</a>) down 1.2%</li>



<li>Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ARM">ARM</a>) down 2.6%</li>



<li>AppLovin Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/APP">APP</a>) up 1.8%</li>



<li>Duolingo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DUOL">DUOL</a>) down 26.9%</li>



<li>Fortinet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/FTNT">FTNT</a>) down 7.2%</li>



<li>e.l.f. Beauty Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ELF">ELF</a>) down 34.5%</li>



<li>Joby Aviation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/JOBY">JOBY</a>) down 4.5%</li>



<li>Eos Energy Enterprises Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/EOSE">EOSE</a>) up 1.2%</li>



<li>DoorDash Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DASH">DASH</a>) down 15.4%</li>



<li>Lyft Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/LYFT">LYFT</a>) up 7.1%</li>



<li>Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SNAP">SNAP</a>) up 10.2%</li>



<li>Lucid Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/LCID">LCID</a>) up 0.3%</li>



<li>FIGS Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FIG">FIG</a>) down 0.9%</li>



<li>Fair Isaac Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FICO">FICO</a>) up 6.5%</li>



<li>Centrus Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/LEU">LEU</a>) down 14.5%</li>



<li>Dutch Bros Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/BROS">BROS</a>) down 3.0%</li>



<li>The Honest Company Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/HNST">HNST</a>) down 23.5%</li>



<li>HubSpot Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/HUBS">HUBS</a>) down 17.8%</li>



<li>Redwire Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/RDW">RDW</a>) down 15.6%</li>



<li>Sezzle Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SEZL">SEZL</a>) down 6.4%</li>



<li>AMC Entertainment Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/AMC">AMC</a>) up 2.6%</li>



<li>Root Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ROOT">ROOT</a>) down 11.9%</li>



<li>Enovix Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ENVX">ENVX</a>) down 23.1%</li>



<li>Energy Transfer LP (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ET">ET</a>) down 0.2%</li>



<li>Albemarle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ALB">ALB</a>) down 0.3%</li>



<li>Coherent Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/COHR">COHR</a>) up 14.9%</li>



<li>Talen Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/TLN">TLN</a>) down 4.9%</li>



<li>Devon Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DVN">DVN</a>) flat (down 0.02%)</li>



<li>Paycom Software Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/PAYC">PAYC</a>) down 12.4%</li>



<li>American Superconductor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AMSC">AMSC</a>) down 35.0%</li>



<li>Celsius Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/CELH">CELH</a>) down 26.5%</li>



<li>D-Wave Quantum Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/QBTS">QBTS</a>) down 7.5%</li>



<li>Oscar Health Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/OSCR">OSCR</a>) up 2.3%</li>



<li>Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/VST">VST</a>) down 3.7%</li>



<li>Datadog Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DDOG">DDOG</a>) up 19.3%</li>



<li>Moderna Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MRNA">MRNA</a>) up 2.4%</li>



<li>Warner Bros. Discovery Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/WBD">WBD</a>) up 0.5%</li>



<li>Shift4 Payments Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FOUR">FOUR</a>) up 2.9%</li>



<li>Under Armour Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/UA">UA</a>) down 3.1%</li>



<li>CyberArk Software Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/CYBR">CYBR</a>) down 2.5%</li>



<li>ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/COP">COP</a>) down 1.4%</li>



<li>NRG Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/NRG">NRG</a>) down 3.9%</li>



<li>Jumia Technologies AG (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/JMIA">JMIA</a>) down 7.3%</li>



<li>AstraZeneca plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AZN">AZN</a>) up 3.6%</li>



<li>Smith &amp; Nephew plc (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SN">SN</a>) up 7.7%</li>



<li>Novavax Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NVAX">NVAX</a>) up 0.1%</li>



<li>YETI Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/YETI">YETI</a>) up 4.1%</li>



<li>DuPont de Nemours Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DD">DD</a>) down 1.6%</li>



<li>Aspen Aerogels Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ASPN">ASPN</a>) down 42.7%</li>
</ul>



Stocks slated to report earnings after the close include SoundHound AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SOUN">SOUN</a>), Airbnb Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ABNB">ABNB</a>), The Trade Desk Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TTD">TTD</a>), Iris Energy Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/IREN">IREN</a>), Archer Aviation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ACHR">ACHR</a>), NuScale Power Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SMR">SMR</a>), DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DKNG">DKNG</a>), Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/OPEN">OPEN</a>), Affirm Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AFRM">AFRM</a>), XYZ Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XYZ">XYZ</a>), MP Materials Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/MP">MP</a>), Take-Two Interactive Software Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TTWO">TTWO</a>), Monster Beverage Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MNST">MNST</a>), Innodata Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/INOD">INOD</a>), U.S. Rare Earths Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/USAR">USAR</a>), Peloton Interactive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/PTON">PTON</a>), Main Street Capital Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/MAIN">MAIN</a>), Texas Roadhouse Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TXRH">TXRH</a>), AbCellera Biologics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ABCL">ABCL</a>), Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/RUN">RUN</a>), Wynn Resorts Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/WYNN">WYNN</a>), Microchip Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MCHP">MCHP</a>), Amprius Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/AMPX">AMPX</a>), Dropbox Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DBX">DBX</a>), StoneCo Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/STNE">STNE</a>), indie Semiconductor Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/INDI">INDI</a>), Sweetgreen Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SG">SG</a>), Bill Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/BILL">BILL</a>), Doximity Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DOCS">DOCS</a>), and GigaCloud Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/GCT">GCT</a>).



Read now:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/legal/25/11/48692983/supreme-court-trump-tariffs-ruling-odds-ieepa-refunds">Supreme Court May Sink Trump&#8217;s Tariffs—But Don&#8217;t Expect Them To Disappear</a></li>
</ul>



Image: Shutterstock

AMSC

ASPN

BROS

CELH

COHR

CYBR

DASH

DDOG

DUOL

ENVX

EOSE

FICO

FOUR

FTNT

HNST

HUBS

IONQ

JMIA

JOBY

LCID

LYFT

MRNA

NVAX

OSCR

PAYC

QBTS

QCOM

ROOT

SEZL

SNAP

YETI

AI Stocks Slide Again, Bitcoin Dips Near $100,000: What's Moving Markets Thursday?

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TSLA">TSLA</a>) is reportedly some time away from kicking off the Roadster's production following a recent job listing that sparked buzz about the highly anticipated successor to Tesla's first-ever sports car.



Check out the current price of TSLA <a href="https://benzinga.com/quote/TSLA">here</a>.



<h2 class="wp-block-heading">Production Two To Three Years Away</h2>



The production of the Roadster is at least two to three years away, according to a report <a href="https://www.businessinsider.com/tesla-roadster-elon-musk-development-updates-2025-11">by</a> Business Insider on Wednesday, citing anonymous sources familiar with the matter. According to the sources cited in the report, the latest designs for the Roadster suggest a 2-seater configuration with butterfly doors. 



Tesla did not immediately respond to <a href="https://pro.benzinga.com">Benzinga</a>'s request for comment.



<h2 class="wp-block-heading">Elon Musk Touts ‘Unforgettable' Demo</h2>



The news comes following Tesla CEO Elon Musk's appearance on an episode of the podcast hosted by media personality Joe Rogan, where he teased <a href="https://www.benzinga.com/markets/tech/25/11/48583775/elon-musk-teases-flying-car-demo-for-tesla-roadster-says-will-have-crazy-tech-better-than-james-bonds-cars">an "unforgettable" demo</a> for the Roadster, also hinting that the Roadster could be a &#8220;flying car.&#8221;



Tesla had also earlier <a href="https://www.benzinga.com/markets/tech/25/10/48035768/elon-musk-led-tesla-releases-cryptic-teasers-could-this-finally-be-affordable-model-y-or-roadster">filed for a patent</a> detailing an active aerodynamic system for the Roadster that could suck air through a series of fans to generate downforce "across varying conditions,&#8221; the filing said. The filing also mentioned that the system could be used to make the car hover by reversing the air flow.



<h2 class="wp-block-heading">Sam Altman Vs Elon Musk Over The Roadster</h2>



Meanwhile, OpenAI CEO and founder Sam Altman faced off against Musk in a series of social media posts about the former's Roadster booking. Altman alleged that Tesla had <a href="https://www.benzinga.com/markets/tech/25/10/48549741/openais-sam-altman-calls-out-tesla-after-failing-to-get-50k-roadster-refund-felt-like-a-long-time">failed to reimburse him</a> for $50,000 he paid to book the Roadster after he canceled his booking.



Altman was criticized by Musk in a post, saying that the <a href="https://www.benzinga.com/markets/tech/25/11/48580985/elon-musk-calls-out-sam-altman-over-tesla-roadster-refund-this-issue-was-fixed-and-you-received-a-refund-within-24-hours">refund was fulfilled</a> within 24 hours after the issue surfaced. Altman isn't the only one who canceled his booking for the Roadster with popular YouTuber Marques Brownlee, aka MKBHD, also canceled<a href="https://www.benzinga.com/markets/tech/25/09/47955324/tesla-roadster-booking-canceled-by-popular-youtuber-mkbhd-tesla-has-been-sitting-with-my-50-grand-for-eight-years"> one of the two Roadster reservations</a> he had made.



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="204" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06041136/TSLA-NOV-6-2025-2-1024x204.jpg" alt="" class="wp-image-1151191" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06041136/TSLA-NOV-6-2025-2-1024x204.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06041136/TSLA-NOV-6-2025-2-300x60.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06041136/TSLA-NOV-6-2025-2-768x153.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06041136/TSLA-NOV-6-2025-2-1536x306.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06041136/TSLA-NOV-6-2025-2.jpg 1585w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



Tesla scores well on Momentum and Quality metrics, while offering satisfactory Growth, but poor Value. Tesla also has a favorable price trend in the Short, Medium and Long term. For more such insights, sign up for<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"> Benzinga Edge Stock Rankings</a> today!



Check out more of Benzinga&#8217;s Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/11/48676952/dan-ives-expects-elon-musks-1-trillion-pay-plan-to-pass-adam-jonas-warns-of-risks-ahead-of-tesla-vote">Dan Ives Expects Elon Musk&#8217;s $1 Trillion Pay Plan To Pass, Adam Jonas Warns Of Risks Ahead Of Tesla Vote</a></li>
</ul>



Photo courtesy: Around the World Photos On Shutterstock.com

Tesla Roadster 3 Years Away From Production — Could Sport 2-Door Design Amid Elon Musk's 'Unforgettable Demo,' 'Flying Car' Claims: Report

Leading cryptocurrencies bounced back on Wednesday as President Donald Trump pledged support to the industry. 



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 9:00 p.m. ET)</th></tr></thead><tbody><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+2.84%</td><td>$103,435.58</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>+5.06%</td><td>$3,407.30</td></tr><tr><td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+8.66%</td><td>$2.34</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+5.87%</td><td>$160.85</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+4.64%</td><td>$0.1662</td></tr></tbody></table></figure>



<h2 class="wp-block-heading">Market Sentiment Sees Slight Improvement</h2>



Bitcoin saw a relief bounce, reaching an intraday high of $104,534.70. The apex cryptocurrency's spike spurred a broader rally, with Ethereum reclaiming $3,400.



The rally comes as Trump <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48675479/trump-says-biden-was-vicious-on-crypto-but-hes-ended-the-war-on-the-industry-it-was-terrible">reiterated his promise</a> to make the U.S. a "Bitcoin Superpower" and claimed that he ended the previous administration's "War On Crypto."



Overall sentiment stayed subdued, with BTC and ETH still 18% and 31%, respectively, below their all-time highs set earlier this year.



Over $313 million was liquidated from the cryptocurrency market in the last 24 hours, <a href="https://www.coinglass.com/LongShortRatio">according </a>to Coinglass, with short position traders bearing the brunt of the losses.



Bitcoin's open interest rose 1.59% in the last 24 hours, suggesting renewed interest among derivatives traders.



The market sentiment improved from "Extreme Fear" to "Fear," <a href="https://alternative.me/crypto/fear-and-greed-index/#google_vignette">according </a>to the Crypto Fear &amp; Greed Index.



Top Gainers (24 Hours)&nbsp;



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency (Market Cap&gt;$100 M)</th><th>Gains +/-</th><th>Price (Recorded at 9:00 p.m. ET)</th></tr></thead><tbody><tr><td>Giggle Fund (GIGGLE )&nbsp;&nbsp;&nbsp;</td><td>+147.23%</td><td>$238.54</td></tr><tr><td>SOON (SOON)&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+111.36%</td><td>$1.48</td></tr><tr><td>1inch (1INCH )&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+32.22%</td><td>$0.1890 </td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.43 trillion, rebounding by nearly 4% in the last 24 hours.



<h2 class="wp-block-heading">Stocks Recover Amid Encouraging Labor Market Data</h2>



Stocks bounced back on Wednesday. The Dow Jones Industrial Average rallied 225.76 points, or 0.48%, to close at 47,311.00. The S&amp;P 500 gained 0.37% to end at 6,796.29, while the tech-heavy Nasdaq Composite closed up at 23,499.80.



The ADP National Employment Report showed that <a href="https://www.benzinga.com/markets/macro-economic-events/25/11/48653204/hiring-rebounds-but-its-still-too-weak-to-derail-a-december-fed-cut">42,000 jobs were added in October</a>, a reversal from the 32,000 jobs lost in September and exceeding economists&#8217; consensus forecast of 25,000, offering some optimism to investors.



Official labor market data from the Bureau of Labor Statistics remains paused due to the <a href="https://www.benzinga.com/etfs/sector-etfs/25/11/48668256/duffy-warns-of-flight-chaos-as-shutdown-extends-these-etfs-are-at-risk">ongoing government shutdown</a>.



<h2 class="wp-block-heading">Crypto Market In &#8216;Corrective&#8217; Phase</h2>



In a note shared with Benzinga, analysts at cryptocurrency payment company B2BINPAY stated that the market is in a "corrective" phase, not in a "bearish" phase.



"In our view, the $100,000 level is the most important support for Bitcoin. Holding it means that hopes for future upward movement are still in place, with potential for recovery toward $115 000–$120 000 as soon as ETF flows stabilize and macro sentiment improves," the analysts projected.



On-chain analytics firm CryptoQuant stated that Bitcoin risks plunging to $72,000 if it fails to reclaim and hold its 365-day moving average i.e, $102,000, which has historically acted as a "key technical and psychological support."



<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">Bitcoin is below its 365-day moving average ($102K), a key technical and psychological support level last broken at the start of the 2022 bear market. If price fails to reclaim it, data suggest the next support lies near $72K, the Traders' minimum realized price band. <a href="https://t.co/VySVce5NY9">pic.twitter.com/VySVce5NY9</a>&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1986080638303084688?ref_src=twsrc%5Etfw">November 5, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Read Next:&nbsp;&nbsp;&nbsp;&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48666356/trader-who-lost-45-million-on-bitcoin-ethereum-solana-longs-now-turns-bearish">Trader Who Lost $45 Million On Bitcoin, Ethereum, Solana Longs Now Turns Bearish</a></li>
</ul>



Photo Courtesy: Sodel Vladyslav on Shutterstock.com

Bitcoin Recovers Amid Trump's Pro-Crypto Remarks: Ethereum, Dogecoin, XRP Also Rise: Analyst Says BTC Risks Falling To $72,000 If It Fails To Do This

The U.S. Supreme Court raised doubts regarding President Donald Trump&#8217;s authority to impose sweeping tariffs using a decades-old emergency powers law. 



<h2 class="wp-block-heading">The Use of IEEPA Questioned</h2>



During oral arguments on Wednesday, both Conservative and Liberal justices on the bench questioned Trump&#8217;s use of the International Emergency Economic Powers Act of 1977 to impose broad tariffs across all major U.S. trading partners.



The wording of the Act that was historically used to impose sanctions was questioned during the oral arguments, with Justice Amy Coney Barrett, a conservative judge appointed by Trump during his first term, asking whether it &#8220;has been used to confer tariff-imposing authority.&#8221;



See Also: <a href="https://www.benzinga.com/markets/asia/25/11/48612515/trump-has-backed-down-on-china-tariffs-says-economist-paul-krugman-the-future-now-belongs-to-china">Trump Has &#8216;Backed Down&#8217; On China Tariffs, Says Economist Paul Krugman: &#8216;The Future Now Belongs To China&#8217;</a>



Liberal Justice Ketanji Brown Jackson said the statute was intended to constrain presidential authority, stating, &#8220;It's pretty clear that Congress was trying to constrain the emergency powers of the president.&#8221;



Appearing for the administration, U.S. Solicitor General D. John Sauer argued that Trump viewed the trade deficits as an economic and national security catastrophe, adding that they helped the country negotiate better trade deals in recent months.



Sauer said that unwinding these deals &#8220;would expose us to ruthless trade retaliation by far more aggressive countries and drive America from strength to failure with ruinous economic and national security consequences.&#8221;



<h2 class="wp-block-heading">The &#8216;Major Questions&#8217; Doctrine</h2>



Conservative Chief Justice John Roberts suggested that the court could apply its &#8220;Major Questions&#8221; doctrine, which requires executive actions resulting in significant economic or political impact to be authorized by Congress. 



Roberts added that the tariffs were an &#8220;imposition of taxes on Americans, and that has always been the core power of Congress.&#8221; He, however, acknowledged that the Court has long shown deference to the President when conducting foreign policy. 



&#8220;Sure, the tariffs are a tax, and that&#8217;s a core power of Congress, but they are a foreign-facing tax, right? And foreign affairs is a core power of the executive,&#8221; he said. 



Conservative Justice Brett Kavanaugh came out in support of the administration, noting that former President Richard Nixon had similarly imposed worldwide tariffs using the IEEPA&#8217;s predecessor statute in the 1970s, which he highlighted as a good precedent. 



Neil Gorsuch, another conservative justice, disagreed with the foreign policy argument, suggesting that giving such sweeping authority to the President could undermine the separation of powers between the executive and legislative branches.



<h2 class="wp-block-heading">Trump Warns Ruling Could &#8216;Literally Destroy&#8217; The US</h2>



Ahead of the hearing, <a href="https://www.benzinga.com/markets/macro-economic-events/25/10/48295327/trump-warns-supreme-court-tariff-ruling-could-literally-destroy-the-us-well-be-struggling-for-years">Trump warned</a> that the Court&#8217;s ruling against his tariffs could &#8220;literally destroy&#8221; the United States, arguing it would leave the country &#8220;struggling for years to come.&#8221; 



His remarks underscored how central the tariffs and the legal authority behind them are to his administration's economic and foreign policy agenda.



Earlier this week, Trump had said that he <a href="https://www.benzinga.com/markets/macro-economic-events/25/11/48582680/trump-wants-to-attend-supreme-courts-hearing-on-legality-of-his-tariffs-so-badly-but-wont-not-about-me-its-about-our-country">wanted to attend</a> the court&#8217;s hearing, but decided against it, saying, &#8220;It's not about me, it's about our country,&#8221; while again reiterating the importance of the tariffs for national security and addressing the nation&#8217;s persistent global trade imbalances.



Photo Courtesy: Jack_the_sparow on Shutterstock.com



Read More: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/11/48661078/trump-tariffs-inflation-impact-ism-services-pmi-prices-paid-outlook-cpi">Trump&#8217;s Tariffs Are Quietly Fueling A New Wave Of Inflation, Economists Warn</a></li>
</ul>

Trump's Tariffs Face Doubts In Supreme Court: 'Major Questions Doctrine' Looms Large Amid Debate Over President's Emergency Powers

(Editor&#8217;s note: The future prices of benchmark tracking ETFs and the headline were updated in the story, and it has been corrected to reflect that AppLovin beat revenue estimates, not missed them)



U.S. stock futures pared earlier losses to trade higher on Thursday after Wednesday's positive close. Futures of major benchmark indices were higher.



This followed the <a href="https://www.benzinga.com/markets/macro-economic-events/25/11/48676595/trumps-tariffs-face-doubts-in-supreme-court-major-questions-doctrine-looms-large-amid-debate-over-presidents-emergency-powers">doubts raised</a> by the U.S. Supreme Court regarding President Donald Trump's authority to impose sweeping tariffs using a decades-old emergency powers law, on Wednesday.



The 10-year Treasury bond yielded 4.14% and the two-year bond was at 3.61%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 67.3% likelihood of the Federal Reserve cutting the current interest rates during its December meeting.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Dow Jones</td><td>-0.06%</td></tr><tr><td>S&amp;P 500</td><td>-0.02%</td></tr><tr><td>Nasdaq 100</td><td>-0.06%</td></tr><tr><td>Russell 2000</td><td>-0.19%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SPY">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/QQQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose in premarket on Thursday. The SPY was up 0.16% at $678.67, while the QQQ advanced 0.14% to $624.16, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Stock Market News Today &#x7C; Apple, Applovin, Qualcomm In Focus &#x7C; Nov 6, 2025" width="500" height="281" src="https://www.youtube.com/embed/YtuGGsAcyJ0?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>



<h2 class="wp-block-heading">Stocks In Focus</h2>



<h2 class="wp-block-heading">Airbnb</h2>



<ul class="wp-block-list">
<li>Airbnb Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ABNB">ABNB</a>) rose 0.041% in premarket on Thursday ahead of its earnings, scheduled to be released after the closing bell. Analysts expect it to report earnings of $2.34 per share on revenue of $4.08 billion.</li>
</ul>



<ul class="wp-block-list">
<li>Benzinga&#8217;s Edge Stock Rankings indicate that ABNB maintains a weaker price trend over the short, medium, and long terms, with a moderate value ranking. Additional performance details are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here.</a></li>
</ul>



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="154" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050733/ABNB-EDGE-NOV-6-1024x154.png" alt="Benzinga's Edge Stock Rankings for ABNB. " class="wp-image-1151282" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050733/ABNB-EDGE-NOV-6-1024x154.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050733/ABNB-EDGE-NOV-6-300x45.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050733/ABNB-EDGE-NOV-6-768x116.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050733/ABNB-EDGE-NOV-6.png 1162w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<h2 class="wp-block-heading">Apple</h2>



<ul class="wp-block-list">
<li>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AAPL">AAPL</a>) fell 0.27% after the news that it was finalizing a deal to pay Alphabet Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/GOOG">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/GOOGL">GOOGL</a>) about $1 billion yearly for AI technology to rebuild Siri, using the partnership as a temporary fix until 2026.</li>
</ul>



<ul class="wp-block-list">
<li>AAPL maintained a stronger price trend over the short, medium, and long terms, with a solid growth ranking. Additional performance details, as per Benzinga&#8217;s Edge Stock Rankings, are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here.</a></li>
</ul>



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="159" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050721/AAPL-EDGE-NOV-6-1-1024x159.png" alt="Benzinga's Edge Stock Rankings for AAPL. " class="wp-image-1151280" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050721/AAPL-EDGE-NOV-6-1-1024x159.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050721/AAPL-EDGE-NOV-6-1-300x47.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050721/AAPL-EDGE-NOV-6-1-768x119.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050721/AAPL-EDGE-NOV-6-1.png 1161w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<h2 class="wp-block-heading">Marvell Technology</h2>



<ul class="wp-block-list">
<li>Marvell Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MRVL">MRVL</a>) soared 8% pre-market as Bloomberg reported that SoftBank Group <a href="https://www.benzinga.com/m-a/25/11/48677935/softbank-explored-taking-over-us-chipmaker-marvell-to-merge-with-arm-report">explored a potential takeover</a> of U.S. chipmaker earlier this year.</li>
</ul>



<ul class="wp-block-list">
<li>It maintained a stronger price trend over the long, short, and medium terms, with a poor value ranking. Additional performance details, as per Benzinga's Edge Stock Rankings, are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here.</a></li>
</ul>



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="158" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050658/MRVL-EDGE-NOV-6-1024x158.png" alt="Benzinga's Edge Stock Rankings for MRVL. " class="wp-image-1151279" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050658/MRVL-EDGE-NOV-6-1024x158.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050658/MRVL-EDGE-NOV-6-300x46.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050658/MRVL-EDGE-NOV-6-768x119.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050658/MRVL-EDGE-NOV-6.png 1150w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<h2 class="wp-block-heading">Coherent</h2>



<ul class="wp-block-list">
<li>Coherent Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/COHR">COHR</a>) climbed 14.31% after it reported revenue of $1.58 billion, up 17% year-on-year, and earnings of $1.16, compared to $0.67 from the same quarter in the previous fiscal year.</li>
</ul>



<ul class="wp-block-list">
<li>COHR maintains a stronger price trend over the short, medium, and long term, with a robust quality ranking. Additional information is <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here.</a></li>
</ul>



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="153" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050604/COHR-EDGE-1024x153.png" alt="Benzinga's Edge Stock Rankings for COHR. " class="wp-image-1151277" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050604/COHR-EDGE-1024x153.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050604/COHR-EDGE-300x45.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050604/COHR-EDGE-768x115.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050604/COHR-EDGE.png 1150w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<h2 class="wp-block-heading">Applovin</h2>



<ul class="wp-block-list">
<li>Applovin Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/APP">APP</a>) <a href="https://www.benzinga.com/markets/equities/25/11/48680214/applovin-surges-6-pre-market-momentum-signals-rally-may-have-more-room-to-run">jumped 6.17% pre-market</a> after reporting revenue of $1.41 billion, above analyst estimates of $1.34 billion and earnings of $2.45 per share, beating analyst estimates of $2.41 per share.</li>
</ul>



<ul class="wp-block-list">
<li>APP maintained a stronger price trend over short, medium, and long terms, with a moderate growth ranking. Additional performance details, as per Benzinga&#8217;s Edge Stock Rankings, are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here.</a></li>
</ul>



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="158" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050539/APP-EDGE-NOV-6-1024x158.png" alt="Benzinga's Edge Stock Rankings for APP. " class="wp-image-1151275" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050539/APP-EDGE-NOV-6-1024x158.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050539/APP-EDGE-NOV-6-300x46.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050539/APP-EDGE-NOV-6-768x119.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050539/APP-EDGE-NOV-6.png 1153w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<h2 class="wp-block-heading">Cues From Last Session</h2>



Sectors recording the biggest gains on Wednesday included communication services, consumer discretionary, and materials, leading most S&amp;P 500 segments to close positively.



Bucking the overall market trend, however, were consumer staples and information technology, which both closed the session lower.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>0.65%</td><td>23,499.80</td></tr><tr><td>S&amp;P 500</td><td>0.37%</td><td>6,796.29</td></tr><tr><td>Dow Jones</td><td>0.48%</td><td>47,311.00</td></tr><tr><td>Russell 2000</td><td>1.54%</td><td>2,464.78</td></tr></tbody></table></figure>



<h2 class="wp-block-heading">Insights From Analysts</h2>



Sean Peche, Founder of Ranmore Fund Management, views the current stock market as dangerously overvalued, drawing direct parallels between the present-day AI hype and Japan's late-1980s valuation bubble.



He points to "lofty valuations and a sense of euphoria," driven by the overwhelming dominance of US tech.



Peche challenges traditional metrics, arguing that the Magnificent 7&#8217;s high capital expenditure makes net income a misleading measure. He calculates the group trades at 58x free cash flow (FCF), his preferred metric.



This valuation worsens significantly when adjusting for stock-based compensation—which he calls "a real cost to shareholders"—rising to 77x FCF.



While the catalyst for a correction is unknown, Peche warns that history shows the odds are stacked against investors at these levels.



"History has repeatedly shown us that the odds of generating attractive real returns over the medium to long term are not on your side when you pay high valuations," he states, suggesting investors should reconsider their heavy reliance on the U.S. market.



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



<h2 class="wp-block-heading">Upcoming Economic Data</h2>



Here's what investors will be keeping an eye on Thursday;



<ul class="wp-block-list">
<li>The initial jobless claims data for the latest week will be delayed, along with third-quarter U.S. productivity data and September&#8217;s wholesale inventories data.</li>
</ul>



<ul class="wp-block-list">
<li>Fed governor Michael Barr and New York Fed President John Williams will speak at 11:00 a.m., Fed governor Christopher Waller at 3:30 p.m., Philadelphia Fed President Anna Paulson at 4:30 p.m., and St. Louis Fed President Alberto Musalem at 5:30 p.m. ET.</li>
</ul>



<h2 class="wp-block-heading">Commodities, Gold, Crypto, And Global Equity Markets</h2>



Crude oil futures were trading higher in the early New York session by 1.06% to hover around $60.23 per barrel.



Gold Spot US Dollar rose 0.83% to hover around $4,012.21 per ounce. Its last record high stood at $4,381.6 per ounce. The U.S. Dollar Index spot was 0.25% lower at the 99.9520 level.



Meanwhile, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was trading 1.01% higher at $102,968.08 per coin.



Asian markets closed higher on Thursday, except India&#8217;s NIFTY 50 index. South Korea's Kospi, Japan's Nikkei 225, Australia's ASX 200, Hong Kong's Hang Seng, and China&#8217;s CSI 300 indices rose. European markets were also lower in early trade.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/economic-data/25/11/48678389/ray-dalio-warns-feds-policy-shift-could-trigger-1999-style-melt-up-in-markets">Ray Dalio Warns Fed&#8217;s Policy Shift Could Trigger 1999-Style &#8216;Melt-Up&#8217; In Markets</a></li>
</ul>



Photo courtesy: Shutterstock

AAPL

MRVL

Stock Market Today: S&P 500, Nasdaq Futures Pare Losses To Trade Higher—Coherent, Marvell Tech, Applovin, Apple In Focus (UPDATED)

Forge Global Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FRGE">FRGE</a>) shares jumped 53.14% in after-hours trading on Wednesday to $40.



Check out the current price of <a href="https://www.benzinga.com/quote/FRGE">FRGE stock here</a>.&nbsp;



The stock closed the regular session at $26.12, higher by 0.11%, on Wednesday, according to <a href="https://www.benzinga.com/quote/FRGE">Benzinga Pro</a> data.



<h2 class="wp-block-heading">Acquisition Reports</h2>



The Financial Times <a href="https://www.ft.com/content/ffa0dabd-7e87-4327-b788-73e8fb598de3">reported</a> on Wednesday that Charles Schwab Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SCHW">SCHW</a>) is nearing an agreement to acquire private share exchange Forge Global. The deal&#8217;s estimated value is $600 million.



California-based fintech Charles Schwab is reportedly expected to pay up to $45 per share for Forge Global.



According to the report, the transaction could be announced this week, although there is no guarantee it will be finalized.



The decision was taken shortly after Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/MS">MS</a>) declared that it would acquire EquityZen, a direct rival of Forge Global.



Forge Global confirmed last week that it is in talks with multiple parties about a potential sale, but said <a href="https://www.benzinga.com/markets/small-cap/25/10/48452838/forge-global-confirms-talks-over-a-potential-sale-with-multiple-parties-but-says-no-agreement-has-been-reached-as-shares-surge">no agreement has been reached</a>.



<h2 class="wp-block-heading">Earnings Announcement</h2>



The San Francisco-based company also announced it will report its <a href="https://www.benzinga.com/quote/FRGE/earnings">third-quarter</a> financial results on Nov. 14.



See Also: <a href="https://www.benzinga.com/trading-ideas/previews/25/11/48674407/draftkings-q3-preview-record-nfl-betting-expected-will-prediction-markets-hurt-results-guidance">DraftKings Q3 Preview: Record NFL Betting Expected, Will Prediction Markets Hurt Results, Guidance?</a>



<h2 class="wp-block-heading">Stock Performance</h2>



Forge Global has gained 84.33% over the past year and 107.80% over the past six months.



The financial services platform&#8217;s stock has a 52-week range of $6.60 to $26.62 and a market capitalization of $355.27 million.



With a strong Momentum in the 92nd percentile, Benzinga&#8217;s Edge Stock Rankings indicate that FRGE has a positive price trend across all time frames.&nbsp; <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Know how</a> its momentum lines up with other well-known names.



<figure class="wp-block-image aligncenter size-full is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="541" height="322" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/05215529/image-84.png" alt="" class="wp-image-1150502" style="width:428px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/05215529/image-84.png 541w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/05215529/image-84-300x179.png 300w" sizes="(max-width: 541px) 100vw, 541px" /></a></figure>



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/topics/25/11/48674447/nearly-60-of-small-business-owners-favor-local-community-focused-lenders-over-big-banks-new-research-shows">Nearly 60% Of Small Business Owners Favor Local Community-Focused Lenders Over Big Banks, New Research Shows</a></li>
</ul>



Photo Courtesy: T. Schneider on Shutterstock.com:



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

FRGE

SCHW

Forge Global Stock Rockets 53% After Hours On Charles Schwab Buyout Buzz

Sports betting company DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DKNG">DKNG</a>) could provide more details on how it is competing against prediction markets and its recent acquisition in the space when the company report third-quarter financial results Thursday<a href="https://www.benzinga.com/earnings"> after market close.</a>



 • DKNG is testing key support levels. <a href="https://www.benzinga.com/quote/DKNG" target="_blank" rel="noreferrer noopener">Get the details here.</a>



Here are the earnings estimates, what analysts are saying and key items to watch.



Earnings Estimates: Analysts expect DraftKings to report third-quarter revenue of $1.23 billion, up from $1.09 billion in last year's third quarter, according to data <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent110525&amp;t=be2bearmibe3na1">from Benzinga Pro.</a>



The company has beaten analyst estimates for revenue in five of the past 10 quarters overall, including the recently reported second quarter.



Analysts expect DraftKings to report a loss of 40 cents per share in the third quarter, down from a loss of 17 cents per share in last year's third quarter.



The company has beaten analyst estimates for earnings per share in nine of the last 10 quarters overall, including the most recently reported second quarter.



Read Also: <a href="https://www.benzinga.com/markets/earnings/25/11/48589747/top-stocks-with-earnings-this-week-joby-ionq-amd-and-more">Top Stocks With Earnings This Week: Joby, IonQ, AMD and More</a>



What Analysts Are Saying: Bank of America Securities analyst Shaun C. Kelley<a href="https://www.benzinga.com/analyst-stock-ratings/downgrades/25/11/48631769/draftkings-flutter-stocks-downgraded-on-prediction-market-risk-relentless-headwinds"> downgraded both</a> DraftKings and peer company Flutter Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FLUT">FLUT</a>) ahead of their upcoming earnings reports.



The analyst said there are numerous challenges facing the sports betting companies, including the rise of prediction markets.



Kelley downgraded DraftKings stock from Buy to Neutral and lowered the price target from $48 to $35.



Items such as unfavorable sports outcomes, underperformance in iGaming, tax headwinds and more could hurt DraftKings going forward, Kelley said in a new investor note.



&#8220;Relentless headwinds could recalibrate long-term earnings,&#8221; Kelley said.



The analyst said DraftKings&#8217; structural hold doesn&#8217;t &#8220;look so structural anymore,&#8221; noting that third-quarter and fourth-quarter sports outcomes could lead to volatility in financials.



Kelley said DraftKings&#8217; model &#8220;is highly sensitive to Hold.&#8221;



&#8220;Additionally, we think prediction markets present a challenging near-term narrative.&#8221;



The analyst said even without the other headwinds, the stock would get downgraded &#8220;solely on prediction markets.&#8221;



Here are other <a href="https://www.benzinga.com/quote/DKNG/analyst-ratings">analyst ratings for DraftKings </a>and their price targets:



<ul class="wp-block-list">
<li>BMO Capital: Maintained Outperform rating, lowered price target from $65 to $63</li>



<li>Bernstein: Maintained Outperform rating, lowered price target from $55 to $50</li>



<li>Stifel: Maintained Buy rating, lowered price target from $51 to $50</li>



<li>Truist: Maintained Buy rating, lowered price target from $55 to $50</li>



<li>Susquehanna: Maintained Positive rating, lowered price target from $64 to $59</li>
</ul>



Key Items to Watch: Prediction markets will likely be one of the hottest topics when DraftKings reports, especially during the Q&amp;A portion of the conference call.



The company will likely highlight its <a href="https://www.benzinga.com/trading-ideas/movers/25/10/48341967/draftkings-stock-surges-following-acquisition-to-launch-prediction-markets">recently announced acquisition</a> of Railbird Technologies, a federally licensed exchange company for prediction markets regulated by the Commodity Futures Trading Commission.



The acquisition is likely to help boost DraftKings into the regulated event contract space. The company plans to launch a mobile app with event contracts called DraftKings Predictions. Investors and analysts will want to hear more about the timeline and the potential revenue opportunity from cross-selling existing customers.



Robinhood Markets (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/HOOD">HOOD</a>)<a href="https://www.benzinga.com/markets/earnings/25/11/48671642/robinhood-q3-highlights-double-beat-record-revenue-prediction-markets-soar"> reported quarterly financials</a> on Wednesday and showed strong growth for its event contracts business, which is now doing more than $100 million in annualized revenue. The company said Event Contracts Traded in the third quarter more than doubled from the second quarter to 2.3 billion in the quarter.



Event contracts traded in October for Robinhood already surpassed the third-quarter total with 2.5 billion contracts for the month.



DraftKings&#8217; third quarter will include the start of the 2025 NFL season, which is expected to set records for sports betting and will likely see a surge of new users wagering with prediction markets.



The American Gaming Association <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/09/47480159/12-stocks-for-2025-nfl-season-with-30-billion-expected-to-be-bet-8-million-super-bowl-lx-ads">predicts that $30 billion </a>will be wagered on the 2025 NFL season with legal sportsbooks in the U.S., up 8.5% year-over-year. DraftKings is one of the biggest winners of this total and the third quarter results could show how some unfavorable outcomes with lots of favorites winning impacted results.



The company has had to adjust guidance previously based on quarters with unusually favorable outcomes for customers, including NFL games.



DraftKings reported record revenue, net income and adjusted EBITDA in <a href="https://www.benzinga.com/markets/earnings/25/08/46927269/draftkings-q2-earnings-soar-record-revenue-net-income-plus-a-prediction-market-tease">the previous quarter,</a> making this one important to show continued growth and strong financial metrics.



The company maintained its full-year guidance for revenue and adjusted EBITDA after second-quarter results despite a double beat and some records. Investors and analysts will want to see guidance stay the same or increase, with lowered guidance having the possibility of sending shares even lower.



DKNG Price Action: DraftKings stock closed Wednesday down 2.41% to $27.92, with shares hitting a new 52-week low of $27.89 during the day's trading session. DraftKings stock is down 23.1% year-to-date in 2025, with shares down over 20% in the last month alone.



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