The Nasdaq-100 surged to a fresh all-time high of 22,191.37 on Tuesday, as tech stocks continued their relentless climb. The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), the most popular ETF <a href="https://www.benzinga.com/topic/nasdaq">tracking the index,</a> also notched a new 52-week high of $540, reflecting the broader tech momentum.



<h2 class="wp-block-heading">Meta's Unstoppable Streak</h2>



Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has been on an absolute tear, closing higher for 20 consecutive trading sessions as of Friday. Although the stock was pulling back on Tuesday, down 3.8% at the time of publication.



Since Jan. 16, META stock has soared 16%, fueling the Nasdaq's ascent. Given Meta's decent weighting in the QQQ and other major ETFs, its rally has been a key force propelling both the tech-heavy Nasdaq and the broader market higher.



Read Also: <a href="https://www.benzinga.com/25/02/43726758/meta-platforms-could-break-winning-streak-missing-20th-day-of-gains-as-overbought-conditions-employee-layoffs-dampen-sentiment">Mark Zuckerberg&#8217;s Meta Stock Poised To Snap 19-Day Winning Streak As Overbought Conditions, Employee Layoffs Dampen Sentiment</a>



<h2 class="wp-block-heading">AI, Earnings, Economic Resilience</h2>



The AI boom continues to be a dominant theme, with Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) leading the charge. 



<a href="https://www.benzinga.com/earnings">Strong corporate earnings</a> have also played a pivotal role, as companies across the tech sector smash analyst expectations. 



Meanwhile, economic indicators <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/02/43699486/inflation-persists-but-so-do-stock-opportunities-rally-on">such as consumer spending</a> and GDP growth are providing a sturdy foundation for investor confidence.



Read Also: <a href="https://www.benzinga.com/government/regulations/25/02/43711974/trump-launches-plan-for-reciprocal-tariffs-sp-500-nears-record-highs-dollar-tumbles-as-investors-cheer-on-late-kickoff">Trump Launches Plan For &#8216;Reciprocal Tariffs:&#8217; S&amp;P 500 Nears Record Highs, Dollar Tumbles</a>



<h2 class="wp-block-heading">The Fed Factor</h2>



Investors are betting that the Federal Reserve has reached the peak of its rate hike cycle. Lower interest rates would provide further fuel for the Nasdaq-100's upward momentum, making growth stocks even more attractive. 



Inflation shows signs of easing, fueling optimism that a more dovish Fed could support higher equity valuations.



<h2 class="wp-block-heading">Technical Breakout With More Upside?</h2>



According to Adam Turnquist, Chief Technical Strategist at LPL Financial, the Nasdaq-100 has decisively broken out of its December highs and could have more room to run. 



"A minimum technical-based price objective sets up near 23,650," Turnquist notes. 



Additionally, relative strength versus the S&amp;P 500 is improving, pointing to continued Nasdaq leadership.



<h2 class="wp-block-heading">ETF Winners Riding The Surge</h2>



Tech-heavy ETFs are reaping the benefits of the rally. Invesco QQQM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQM#NASDAQ">QQQM</a>) and the First Trust Nasdaq BuyWrite Income ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTQI#NASDAQ">FTQI</a>) have seen steady gains, while the broader SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) has also climbed, albeit at a slower pace.



With tech stocks leading the charge and Meta's unrelenting rally keeping the momentum alive, the Nasdaq-100 looks poised for more record-breaking action.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/02/43737344/sp-500-nears-another-all-time-high-whats-driving-the-action">S&amp;P 500 Nears Another All-Time High: What&#8217;s Driving The Action?</a></li>
</ul>



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Nasdaq-100 Hits Record High, Meta's Rally Powers Tech Surge

Hedge fund Viking Global Investors, led by Andreas Halvorsen, made some bold moves in the <a href="https://www.benzinga.com/earnings">fourth quarter of 2024</a>, dumping its entire stakes in Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>). 



The firm offloaded nearly 4.86 million Apple shares and over 436,000 Tesla shares, exiting both positions completely. 



Apple had previously accounted for 4.13% of Viking's portfolio, while Tesla had a smaller 0.42% allocation.



Read Also: <a href="https://www.benzinga.com/news/25/02/43772021/tesla-spacex-and-x-how-musks-companies-could-cash-in-on-a-trump-presidency">Tesla, SpaceX, And X: How Musk&#8217;s Companies Could Cash In On A Trump Presidency</a>



<h2 class="wp-block-heading">Nvidia No Longer The Market Darling?</h2>



Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) wasn't spared either, though Viking didn&#8217;t completely cut ties. The firm trimmed its Nvidia holdings by 10.3%, reducing its position by about 233,000 shares. 



Despite Nvidia's continued AI-fueled momentum, Viking's shift suggests a more cautious stance toward the stock's valuation after its meteoric rise in 2024.



<h2 class="wp-block-heading">Big Tech Out, Financials In?</h2>



Viking's <a href="https://www.sec.gov/Archives/edgar/data/1103804/000110380425000002/0001103804-25-000002-index.htm">latest 13F filing</a> reveals a shift in sector focus. The firm pared back its exposure to the Information Technology sector, cutting it from 19.06% in Q3 to 17.96% in Q4. 



Consumer Discretionary saw a similar pullback, dropping from 11.68% to 10.79%. 



Meanwhile, Financials surged from 25.58% to 28.45%, signaling a possible pivot toward more defensive or interest rate-sensitive plays.



<h2 class="wp-block-heading">Is This A Market Signal?</h2>



The question now is whether Viking's tech retreat signals broader hesitation toward Big Tech in 2025. With Apple and Tesla out and Nvidia scaled back, Viking appears to be cooling on the sector that led the market's charge last year. 



While this could be a risk-management move, it's worth watching whether other hedge funds follow suit.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/25/02/43769996/what-does-warren-buffett-know-that-we-dont-investors-are-paying-attention">What Does Warren Buffett Know That We Don&#8217;t? Investors Are Paying Attention</a></li>
</ul>



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Viking Bails On Apple, Tesla And Trims Nvidia: Is This A Big Tech Rethink?

MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) Executive Chairman Michael Saylor on Tuesday said he believes institutional investors have yet to allocate enough capital to Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), despite its increasing acceptance as a financial asset.



&#8220;If it's a legitimate institutional asset, everybody is under-allocated to it,&#8221; he <a href="https://x.com/Cointelegraph/status/1891880357433311365">told</a> CNBC.



New regulations are making it easier for companies to hold Bitcoin on their balance sheets, Saylor added. The Financial Accounting Standards Board's fair value accounting rules, for example, require companies to report cryptocurrencies at fair market value.



&#8220;Fair value accounting is going to create much more transparency and clarity in P&amp;Ls and balance sheets for any companies that are holding Bitcoin,&#8221; Saylor explained. This could encourage corporations to treat Bitcoin as a treasury reserve asset, similar to government bonds and sovereign debt.



Saylor compared Bitcoin's growth to past technological shifts, drawing parallels to how companies like Apple and Google reshaped communication and information access. 



He argued that Bitcoin represents the digitization of capital, with global financial markets gradually moving toward broader adoption. &#8220;Right now, 99.9% of the capital in the world is tied up in real estate, stocks, precious metals, and bonds,&#8221; he said. 



&#8220;As people get educated on digital assets, they realize they should be allocating more and more of their capital to this digital asset.&#8221;



Saylor also suggested that the market is still in the early stages of a major transition.



&#8220;If Bitcoin's not going to zero, it's going to a million,&#8221; he said, reinforcing his belief that increased institutional participation will push Bitcoin's valuation significantly higher over time.



Bitcoin's price has seen a strong rally in recent months, a trend Saylor attributes to a combination of institutional demand, macroeconomic conditions, and upcoming market events. 



Spot Bitcoin ETF approval, a shift in Federal Reserve policy, and the Bitcoin halving are factors that fueled bullish sentiment.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43781183/state-pension-funds-key-to-bitcoin-hitting-500k-long-only-money-needed-standard-chartered">State Pension Funds Key To Bitcoin Hitting $500K, Long-Only Money Needed: Standard Chartered</a>



&#8220;The spot ETF news is good news. Loosening of monetary policy is good news. Inflation anywhere in the world drives Bitcoin adoption,&#8221; he said.



He also highlighted the impact of the Bitcoin halving, an event that reduces the number of new Bitcoin entering circulation. 



&#8220;The halving is going to cut the available supply of Bitcoin for sale in half from the miners,&#8221; Saylor explained. 



With a limited supply and increasing institutional interest, he believes Bitcoin remains well-positioned for long-term growth.



Saylor also dismissed concerns about mining centralization, arguing that the industry remains geographically diverse. 



&#8220;People focus on mining pools, but the actual mining is taking place in Bhutan, Argentina, South America, Texas, Europe, Iceland, and Africa,&#8221; he said. 



He noted that miners tend to migrate toward regions with abundant, low-cost energy sources, ensuring decentralization over the long term.



With regulatory clarity improving, institutional adoption increasing, and macroeconomic factors supporting demand, Saylor expects Bitcoin to attract more investors.



&#8220;We've got a confluence of very bullish milestones over the next six months,&#8221; he said, suggesting that Bitcoin's trajectory remains upward.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43781183/state-pension-funds-key-to-bitcoin-hitting-500k-long-only-money-needed-standard-chartered">State Pension Funds Key To Bitcoin Hitting $500K, Long-Only Money Needed: Standard Chartered</a></li>
</ul>



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$BTC

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Michael Saylor: Bitcoin Adoption Hindered By Institutional Under-Allocation

Major U.S. indices are little-changed in Tuesday's midday trading as investors monitor recent geopolitical developments and anticipate the release of the latest FOMC<a href="https://www.benzinga.com/25/02/43784079/us-stocks-mixed-ny-state-business-activity-rises-in-february"> minutes on Wednesday.</a>



U.S. and Russian officials met in Saudi Arabia Tuesday <a href="https://www.benzinga.com/news/global/25/02/43787369/us-russian-officials-begin-ukraine-peace-talks-defense-sector-stocks-rise">to begin</a> peace negotiations, marking their first high-level talks on the war in Ukraine since Russia&#8217;s invasion in 2022. The initial talks were intended as "trust-building" and could lay the groundwork for a future meeting between President Donald Trump and Russian President Vladimir Putin. Ukrainian and other European officials were notably absent from Tuesday's discussions. 



WTI crude oil futures held steady as diplomatic talks between the U.S. and Russia raised hopes for reduced geopolitical risks. 



Read Next: <a href="https://www.benzinga.com/25/02/43703014/robert-f-kennedy-confirmed-as-trump-secretary-of-health">Robert F. Kennedy, Vaccine Skeptic, Confirmed As Trump&#8217;s Secretary Of Health: Health Care Stocks To Watch</a>



The yield on the 10-year US Treasury note rose 0.04%, back above the 4.5% threshold as investors digested recent comments from Fed officials, including Christopher Waller, Michelle Bowman and Patrick Harker, which reinforced expectations that interest rates will remain on hold in the near term.  



All eyes will be on Wednesday's release of the latest FOMC's minutes set for 2 p.m. ET. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) fell 0.57% to $88.64.&nbsp;



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was down 1.16% to $94,672 as crypto markets fell broadly Tuesday.&nbsp;&nbsp;



<h2 class="wp-block-heading">Tuesday's Performance In Major US Indices, ETFs</h2>



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Major Indices</td><td>Price</td><td>1 day % chg.</td></tr><tr><td>Nasdaq 100</td><td>20,000.73</td><td>-0.12%</td></tr><tr><td>S&amp;P 500</td><td>6,115.46</td><td>0.01%</td></tr><tr><td>Dow Jones</td><td>44,454.56</td><td>-0.19%</td></tr><tr><td>Russell 2000</td><td>2,288.09</td><td>0.36%</td></tr></tbody></table></figure>



According to Benzinga Pro data:



<ul>
<li>The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) inched up 0.1% to $610.31.&nbsp;</li>



<li>The SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) was down 0.17% at $445.03.&nbsp;</li>



<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.04% to $538.36.&nbsp;</li>



<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) eased 0.44% to $226.97.</li>



<li>The Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) dipped 0.53% to $225.81.&nbsp;</li>



<li>The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) rose 0.95% to $90.93.&nbsp;</li>
</ul>



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



Shares of Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) surged following reports suggesting Broadcom, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) and Taiwan Semiconductor Manufacturing Co. Ltd.(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) are <a href="https://www.benzinga.com/markets/equities/25/02/43775200/intel-jumps-over-5-in-tuesday-pre-market-as-deal-talks-with-broadcom-and-tsmc-surface">considering bids</a> for portions of the company.



Stocks reacting to company earnings reports included:&nbsp;



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



<li>Constellation Energy Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>)&nbsp;</li>



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



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



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



<li>Donnelley Financial Solutions, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFIN#NYSE">DFIN</a>)&nbsp;</li>



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



<li>Medtronic Plc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>)&nbsp;</li>



<li>GeneDx Holdings Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WGS#NASDAQ">WGS</a>)&nbsp;</li>



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



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



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



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



<li>Matador Resources Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTDR#NYSE">MTDR</a>)&nbsp;</li>



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



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



<li>Sonoco Products Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SON#NYSE">SON</a>)&nbsp;</li>



<li>Toll Brothers, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>)&nbsp;</li>



<li>Star Bulk Carriers Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBLK#NASDAQ">SBLK</a>)&nbsp;</li>



<li>Shift4 Payments, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FOUR#NYSE">FOUR</a>)&nbsp;</li>



<li>Matador Resources Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTDR#NYSE">MTDR</a>)</li>
</ul>



Read Next:



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<li><a href="https://www.benzinga.com/news/global/25/02/43732115/explosion-rocks-chernobyl-nuclear-site-as-zelenskyy-signals-readiness-for-peace-talks">Explosion Rocks Chernobyl Nuclear Site As Zelenskyy Signals Readiness For Peace Talks</a>&nbsp;</li>
</ul>



Image: Shutterstock.

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US, Russia Begin Ukrainian Peace Talks, Intel Shares Surge: What's Driving Markets Tuesday?

Occidental Petroleum Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) will be reporting its fourth-quarter earnings on Tuesday. Wall Street expects 70 cents in EPS and $7.05 billion in revenues as the company reports<a href="https://www.benzinga.com/calendars/earnings?tickers=OXY" target="_blank" rel="noreferrer noopener"> after market hours</a>.



The stock is down 19.31% over the past year, 3.51% year-to-date.



<h2 class="wp-block-heading">Warren Buffett Keeps Loading Up</h2>



As Occidental Petroleum gears up for its fourth-quarter earnings, all eyes are on Warren Buffett's continued buying spree. Berkshire Hathaway now holds a <a href="https://whalewisdom.com/filer/berkshire-hathaway-inc">28.24%</a> stake in the company, undeterred by Occidental's over 30% drop from its April peak.



Buffett's long-term conviction contrasts with recent market pessimism, largely driven by declining crude oil prices. Occidental's <a href="https://www.benzinga.com//node/43757272">focus on debt reduction and its push into carbon capture technology</a> could offer a more resilient long-term outlook. 



With Buffett steadily accumulating shares and holding warrants for more, investors may wonder if he sees hidden value the market has overlooked.



Let&#8217;s look at what the charts indicate for Occidental stock and how the stock currently maps against Wall Street estimates.



Read Also: <a href="https://www.benzinga.com//node/43780502">How To Earn $500 A Month From Occidental Petroleum Stock Ahead Of Q4 Earnings</a>



<h2 class="wp-block-heading">Occidental Faces Bearish Trend</h2>



Occidental&#8217;s stock, at $48.06, is trading below its five-day, 20-day and 50-day exponential moving averages (EMA). This sustained selling pressure suggests a risk of further bearish movement.



<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent021825&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="631" height="486" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/18082941/Screenshot-2025-02-18-at-6.59.13-PM.png" alt="" class="wp-image-786875" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/18082941/Screenshot-2025-02-18-at-6.59.13-PM.png 631w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/18082941/Screenshot-2025-02-18-at-6.59.13-PM-300x231.png 300w" sizes="(max-width: 631px) 100vw, 631px" /></a></figure>



<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent021825&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>



The stock is also below its 20-day simple moving average (SMA) of $48.56 and its 50-day SMA of $48.89, reinforcing the short-term downtrend. Additionally, Occidental's position below its 200-day SMA of $54.94 signals broader weakness in the longer-term technical outlook.



Momentum indicators paint a mixed picture. The Moving Average Convergence Divergence (MACD) indicator stands at a negative 0.54, confirming the bearish trend. However, the Relative Strength Index (RSI) is at 45.97, suggesting that while the stock is under pressure, it is not yet in oversold territory. 



A key technical level to watch is the eight-day SMA of $47.73, which currently offers a bullish signal. If Occidental can regain its 20-day SMA, it could indicate a potential trend reversal.



Otherwise, continued weakness may see the stock testing lower support levels.



<h2 class="wp-block-heading">Occidental Analysts See 5% Upside</h2>



Ratings &amp; Consensus Estimates:<a href="https://www.benzinga.com/quote/OXY/analyst-ratings" target="_blank" rel="noreferrer noopener"> The consensus analyst rating</a> on Occidental's stock stands at a Neutral currently with a price target of $62.10. Goldman Sachs, Truist Securities and Piper Sandler&#8217;s latest ratings suggest a 5.02% upside for OXY stock with a $51.33 average price target.



Price Action: Occidental stock closed the trading day Friday at $48.06, up 0.38%.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com//node/43445225">Top 2 Energy Stocks That May Fall Off A Cliff In February</a></li>
</ul>



Image: Shutterstock

Technicals

Previews

Warren Buffett Keeps Buying Occidental: Will Q4 Earnings Prove Him Right?

Israel on Tuesday announced plans to enter negotiations with Hamas to secure a lasting ceasefire in Gaza and facilitate the release of the remaining Israeli hostages.



What Happened: Israel&#8217;s foreign minister,&nbsp;Gideon Sa'ar, declared that the nation is set to begin negotiations with Hamas, <a href="https://www.wsj.com/world/middle-east/hamas-to-release-four-dead-hostages-on-thursday-1051269e?mod=hp_lead_pos6">as per</a>&nbsp;The Wall Street Journal.



The talks aim to establish a permanent ceasefire and secure the release of the remaining Israeli hostages held by Hamas. This development follows Hamas&#8217; agreement to return the bodies of four deceased hostages, a gesture seen as a potential step toward broader peace efforts.



SEE ALSO:&nbsp;<a href="https://www.benzinga.com/tech/25/02/43775516/after-discounts-tesla-is-now-offering-free-vinyl-wraps-to-boost-foundation-series-cybertruck-sales" target="_blank" rel="noreferrer noopener">After Discounts, Tesla Is Now Offering Free Vinyl Wraps To Boost Foundation Series Cybertruck Sales</a>



In return, Israel has agreed to release all Palestinian women and minors under 19 detained in Gaza since October 2023, who were not directly involved in the conflict, according to Arab mediators, the report said. 



Israel&#8217;s security cabinet approved the launch of the second phase of the ceasefire deal on Monday night, two weeks later than originally planned.



Why It Matters: The first phase of the 42-day ceasefire between Israel and Hamas is set to conclude on March 1. The transition to the second phase has been a politically sensitive issue in Israel, as members of Prime Minister Benjamin Netanyahu's right-wing alliance remain opposed to ending the <a href="https://www.benzinga.com/news/global/25/01/43029992/netanyahu-postpones-ceasefire-vote-raising-questions-about-gaza-truce-prospects">war without the complete dismantling of Hamas.</a>



Earlier this month,&nbsp;President Donald Trump&nbsp;announced that the&nbsp;<a href="https://www.benzinga.com/25/02/43484176/trump-says-us-will-take-over-gaza-strip-were-going-to-develop-it-create-thousands-of-jobs">U.S. would take over the Gaza Strip</a>&nbsp;and develop it, creating thousands of jobs. This proposal was met with widespread criticism, with world leaders rejecting the idea of displacing nearly 2 million Palestinians from Gaza.



President Trump also proposed a <a href="https://in.benzinga.com/news/25/02/43503385/trumps-gaza-plan-for-seaside-resort-faces-global-pushback">plan to convert Gaza</a> into a real estate project. French President&nbsp;Emmanuel Macron&nbsp;<a href="https://www.benzinga.com/25/02/43645123/emmanuel-macron-rejects-trumps-plan-of-turning-gaza-into-a-resort-the-right-answer-is-not-a-real-estate-operation">emphasized the need for a political solution</a>&nbsp;to the Gaza issue, rejecting the idea of turning the region into a real estate project. 



Meanwhile, West Texas Intermediate crude futures jumped 0.61% to $71.14 per barrel by 8:20 a.m. ET, while Brent crude was down 0.29% to $75 per barrel. U.S. energy stocks were trading mixed in premarket as the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) rose 0.47%. Oil giants Exxon Mobil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) gained 0.17% and Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) was down 0.15%.



<ul>
<li>READ MORE:&nbsp;<a href="https://www.benzinga.com/tech/25/02/43759759/apple-and-meta-in-race-to-develop-ai-powered-humanoid-robots" target="_blank" rel="noreferrer noopener">Apple and Meta in Race To Develop AI-Powered Humanoid Robots</a></li>
</ul>



Image via Shutterstock



 This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/navdeep-yadav" target="_blank" rel="noopener">Navdeep Yadav.</a>

Politics

Israel To Begin Negotiations With Hamas For Permanent Cease-Fire, Release Of Remaining Hostages

Late investor Jim Simons&#8216; fund Renaissance Technologies LLC made some significant changes within its artificial intelligence bets during the fourth quarter of 2024. The 13F SEC filings reveal that Renaissance increased its stake in a few Asia-based AI companies during the quarter.



What Happened: Mathematician <a href="https://www.benzinga.com/news/24/04/38431687/jim-simons-a-math-professor-became-one-of-the-most-successful-investors-of-all-time-now-he-shares-hi">Simons</a> who died in May 2024 achieved remarkable success in finance by founding the quantitative hedge fund Renaissance Technologies. The key changes in its fourth-quarter holdings are as follows.



<ul>
<li>Renaissance cut its stake in Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) by 41% but its position in value terms increased by $294.4 million or 21% during the said quarter.</li>
</ul>



<ul>
<li>The fund sold all 304,140 shares of Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), exiting the company as the company underwent a 10-for-1 stock split in mid-quarter, which lowered the price per share but increased the number of shares. The fund repurchased about $1.637 million of the new class of shares valued at $49.898 million.</li>
</ul>



<ul>
<li>The company increased its stake in Asian AI plays like Alibaba Group Holding ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) by 209%, Taiwan Semiconductor Mfg. Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) by 92% and JD.Com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) by a staggering 1331%.</li>
</ul>



<ul>
<li>Furthermore, Renaissance added 1303% of Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) and 32% of Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) during the fourth quarter.</li>
</ul>



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Company</td><td>Holdings (as of Sept. 30)</td><td>Holdings (as of Dec. 31)</td><td>Change (in %)</td><td>Value As Of Dec. 31</td></tr><tr><td>Palantir Technologies Inc. </td><td>38,419,240</td><td>22,789,809</td><td>-41%</td><td>$1.723 billion</td></tr><tr><td>Alphabet Inc. Class C </td><td>815,000</td><td>0</td><td>-100%</td><td>0</td></tr><tr><td>Alphabet Inc. Class A </td><td>743,614</td><td>3,050</td><td>-99.6%</td><td>$592,000</td></tr><tr><td>Super Micro Computer Inc. </td><td>304,140</td><td>0</td><td>-100%</td><td>0</td></tr><tr><td>Alibaba Group Holding &#8211; ADR </td><td>971,000</td><td>2,995,640</td><td>209%</td><td>$254 million</td></tr><tr><td>Taiwan Semiconductor Mfg. Co.</td><td>848,420</td><td>1,629,242</td><td>92%</td><td>$321.759 million</td></tr><tr><td>JD.Com Inc.</td><td>79,900</td><td>1,143,700</td><td>1331%</td><td>$39.652 million</td></tr><tr><td>Robinhood Markets Inc. </td><td>8,986,602</td><td>12,078,116</td><td>34%</td><td>$450.030 million</td></tr><tr><td>Nike Inc. </td><td>185,500</td><td>2,602,101</td><td>1303%</td><td>$196.900 million</td></tr></tbody></table></figure>



See Also: <a href="https://www.benzinga.com/25/02/43774882/donald-trumps-tax-cut-could-add-46-trillion-to-deficit-says-robert-reich-emphasizing-48-billion-relief-for-top-100-us-firms-via-corporate-tax-cuts">Trump&#8217;s Tax Cut Could Add $4.6 Trillion To Deficit, With $48 Billion Tax Relief For Top 100 Firms: Robert Reich</a>



Why It Matters: As of its fourth quarter filings, the hedge fund had 3,533 holdings with a total value of $67.553 billion as per its 13F filings. 



Simons in an old conversation had revealed the key to Renaissance Technologies&#8217; <a href="https://www.benzinga.com/news/24/04/38431687/jim-simons-a-math-professor-became-one-of-the-most-successful-investors-of-all-time-now-he-shares-hi">staggering returns</a>.



&#8220;My algorithm has always been you get smart people together. You give them a lot of freedom,&#8221; Simons explained in a <a href="https://alphaarchitect.com/2015/06/james-simons-transcript-quantitative-finance-and-building-a-firm/">transcript</a> of his old interview. 



His words offer a glimpse into the inner workings of the famously secretive and astoundingly successful Medallion Fund. Managed exclusively for Renaissance employees, the fund has achieved near-mythical status in the finance world due to its unprecedented performance. This exclusivity, coupled with its consistent outperformance, has fueled both intrigue and admiration from investors worldwide.



Simons&#8217; final ingredient for building a multi-billion dollar empire is to ensure everyone has a vested interest. &#8220;Make everyone partners,&#8221; he advised. In short, Simons&#8217; Renaissance Technologies model rests on four pillars: brilliant minds, a collaborative environment, cutting-edge infrastructure, and shared ownership.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/02/43774256/gop-megadonor-ken-griffins-citadel-earns-77-return-from-palantir-despite-slashing-13-in-q4-adds-4-mag-7-while-cutting-stake-in-3">GOP Megadonor Ken Griffin&#8217;s Citadel Scores 77% Return On Palantir Despite Trimming Stake, Doubles Down On These 4 &#8216;Mag 7&#8217; Stocks</a></li>
</ul>



Photo courtesy: Shutterstock

BABA

HOOD

PLTR

SMCI

Jim Simons' Renaissance Technologies Makes AI Moves: Sells Big Tech, Buys Chinese Stocks, Robinhood In Q4

On Tuesday,&nbsp;Baidu, Inc&nbsp;(NASDAQ:&nbsp;BIDU) reported&nbsp;fiscal fourth-quarter&nbsp;revenue of $4.68 billion, down 2% year-on-year, topping the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/n43774309/baidu-announces-fourth-quarter-and-fiscal-year-2024-results" rel="noreferrer noopener">analyst&nbsp;consensus estimate of $4.56 billion</a>.&nbsp;



Baidu&#8217;s adjusted earnings per ADS&nbsp;of $2.63 beat the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate of $1.78</a>. The stock price slid after the report.



Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/43741255/applied-materials-navigates-china-slowdown-analysts-see-early-recovery-despite-soft-guidance" rel="noreferrer noopener">Applied Materials Navigates China Slowdown, Analysts See Early Recovery Despite Soft Guidance</a>



Segments:&nbsp;Baidu&#8217;s Core revenue grew by 1% year over year to $3.8 billion; Online marketing revenue declined by 7% year over year to $2.46 billion.



Non-online marketing revenue&nbsp;grew 18% year over year to&nbsp;$1.34 billion, driven by the AI Cloud business.&nbsp;AI Cloud business grew by 26% during the quarter.



Revenue from&nbsp;IQIYI, Inc&nbsp;(NASDAQ:&nbsp;IQ) decreased 14% year over year to $906.00 million, missing the analyst consensus estimate of $909.96 million.&nbsp;



Baidu&#8217;s SG&amp;A expenses were $915 million, up 14% year over year, primarily due to an increase in expected credit losses, channel spending, and promotional marketing expenses. R&amp;D expenses declined 12% year over year to $756 million.&nbsp;&nbsp;



Baidu&#8217;s adjusted EBITDA margin declined by 600 bps to 20%, and its Core adjusted EBITDA margin&nbsp;decreased by 600 bps to 24%. As of December 31, 2024, Baidu had $19.1 billion in cash and equivalents and generated $3 million in free cash flow during the quarter.&nbsp;



Co-founder and CEO Robin Li said 2024 marked a pivotal year in the company&#8217;s transformation from an internet-centric to an AI-first business. AI Cloud gained momentum, fueled by broad market recognition of its full-stack AI capabilities.



In the Mobile Ecosystem, Li noted that it was steadfast in advancing the AI transformation. Apollo Go paved the way for global expansion and scalable, asset-light strategies. Li expects its AI investments to deliver more significant results in 2025.



Baidu&nbsp;stock declined 8% in the last 12 months as its AI models failed to gain traction, like Alibaba Group Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), ByteDance, and DeepSeek. The Chinese search engine giant <a target="_blank" href="https://www.benzinga.com/markets/emerging-markets/25/02/43691826/not-just-deepseek-chinas-ai-landscape-heats-up-as-baidu-launches-free-ernie-bot" rel="noreferrer noopener">plans to launch</a> Ernie 5.0 in late 2025 and offer Ernie Bot free to all users. Baidu is also a key Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) partner as the latter aims to add AI features to its <a target="_blank" href="https://www.benzinga.com/government/regulations/25/02/43730124/apple-focuses-on-alibaba-baidu-partnership-in-race-to-bring-ai-features-to-china-by-mid-2025" rel="noreferrer noopener">iPhones for China</a>.



Price Action: BIDU stock traded lower by 2.29% at $95.25 premarket at the last check Tuesday.



Also Read:



<ul>
<li><a href="https://www.benzinga.com/25/02/43739878/nvidia-shifts-strategy-boosts-weride-investment-trims-arm-stake" target="_blank" rel="noreferrer noopener">Nvidia Shifts Strategy, Boosts WeRide Investment, Trims Arm Stake</a></li>
</ul>



Photo by Sundry Photography via Shutterstock

Earnings

Emerging Markets

Baidu Q4 Earnings: AI Cloud Grows, Margin Slides, Expects AI Investments To Bear Fruit In 2025

The shares of Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) are trading 5.38% higher in Tuesday&#8217;s pre-market amid reports of a deal with Broadcom Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) and Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>).



What Happened: The Wall Street Journal<a href="https://www.benzinga.com/markets/25/02/43761300/intel-could-be-split-in-two-as-broadcom-and-tsmc-explore-deals-trump-white-house-resists-foreign-ownership-report"> reported on Saturday </a>that Broadcom and Taiwan Semiconductor Manufacturing are contemplating bids for portions of the struggling chipmaker. The report states that Broadcom has been exploring Intel&#8217;s chip design and marketing operations, while TSMC, a contract chipmaker, has considered acquiring <a href="https://www.benzinga.com/markets/25/02/43685791/taiwan-semiconductor-could-be-the-lifeline-intel-needs-as-rumors-swirl-of-a-us-backed-joint-venture">some or all of Intel&#8217;s chip manufacturing facilities</a> through an investor consortium or a different arrangement.



Intel stock has been rising after a previous report stated that the <a href="https://in.benzinga.com/markets/equities/25/02/43753533/trump-administration-unlikely-to-support-tsmcs-control-of-intels-us-chip-factories-report">Trump administration is hopeful of TSMC</a> buying a 20% stake in Intel&#8217;s foundry services business as part of its Made in America plans. The investment could come in the form of a cash infusion or the provision of technology.



SEE ALSO: <a href="https://www.benzinga.com/25/02/43773352/stanley-druckenmiller-ditches-broadcom-ups-ante-on-big-tech">Billionaire Investor Stanley Druckenmiller Dumps Broadcom, Bets Big On Tesla, Amazon And Other Big Tech Stocks In Q4</a>



Why It Matters:&nbsp;Intel&#8217;s financial struggles have resulted in large-scale layoffs and dividend suspension. Despite a 16.7% year-to-date gain, Intel&#8217;s shares have plummeted&nbsp;nearly 47% over the past year&nbsp;amid worries over the chipmaker&#8217;s unclear turnaround strategy and its struggle to gain a larger share of the profitable AI market.



Investors turned optimistic after Vice President JD Vance at a recent AI conference in Paris stated that the Trump administration plans to implement measures ensuring AI chips are designed and produced in the U.S. 



The struggling chipmaker is currently looking for a new CEO and is working towards launching new products and achieving stable production using the 18A manufacturing process technology node.



<ul>
<li>READ MORE: <a href="https://www.benzinga.com/markets/25/02/43769996/what-does-warren-buffett-know-that-we-dont-investors-are-paying-attention">What Does Warren Buffett Know That We Don&#8217;t? Investors Are Paying Attention</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.

Intel Jumps Over 5% In Tuesday Pre-Market As Deal Talks With Broadcom And TSMC Surface

U.S. stock futures rose on Tuesday after a long weekend following a mixed close on Friday. Monday was a federal holiday owing to the Presidents Day celebrations. The futures of all four benchmark indices advanced.



Investors will be on the lookout for global macroeconomic factors as the U.S. and Russian officials met in Riyadh on Tuesday for their highest-level talks yet on the Ukraine war.



Discussions focused on ending the three-year conflict and improving relations, potentially paving the way for a summit between Presidents Donald Trump and Vladimir Putin.



Walmart Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) earnings will be a key focus this week, along with reports from U.S.-listed Chinese e-commerce giants Alibaba Group Holding ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) and Baidu Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>). Online used-car retailer Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>), and EV maker Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) will also report this week.



The 10-year Treasury yield stood at 4.50%, while the two-year yield was at 4.27%. According to the CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>, there is a 97.5% chance that the Federal Reserve will keep interest rates unchanged for the March meeting.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Nasdaq 100</td><td>0.37%</td></tr><tr><td>S&amp;P 500</td><td>0.29%</td></tr><tr><td>Dow Jones</td><td>0.10%</td></tr><tr><td>Russell 2000</td><td>0.15%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose in premarket on Tuesday. SPY rose 0.30% to $611.52, and QQQ advanced 0.42% to $540.42, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From The Last Session



Tech and Communication Services bucked the negative trend, closing higher on Friday, while Healthcare, Consumer Staples, and Utilities led losses as most S&amp;P 500 sectors declined. 



Despite Friday&#8217;s mixed results, for the last week, the S&amp;P 500 gained 1.5%, the Dow 0.6%, and the Nasdaq 2.6% led by weaker-than-expected retail sales which were down 0.9% in January.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>0.41%</td><td>20,026.77 </td></tr><tr><td>S&amp;P 500</td><td>-0.0072%</td><td>6,114.63</td></tr><tr><td>Dow Jones</td><td>-0.37%</td><td>44,546.08</td></tr><tr><td>Russell 2000</td><td>-0.097%</td><td>2,279.98</td></tr></tbody></table></figure>



Insights From Analysts



Ryan Detrick, the chief market strategist at Carson Research pointed out that seven out of the total broad 11 sectors have outperformed the S&amp;P 500 index on a year-to-date basis.



&#8220;We&#8217;ve been pounding the table for broadening out and we think this will continue,&#8221; he added.



<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">After a big week for tech last week, all 11 sectors are up on the year and seven groups are outperforming the S&amp;P 500. We&#39;ve been pounding the table for broadening out and we think this will continue. <a href="https://t.co/F2sPwCw8wj">pic.twitter.com/F2sPwCw8wj</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1891675975995244713?ref_src=twsrc%5Etfw">February 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The S&amp;P 500 has surged 60% in the past two years, a significant increase. However, according to Bravos Research historically, similar rapid gains have often been followed by substantial market downturns.



The downturns have occurred three out of the last four times after such a surge was witnessed. Bravos highlights that one instance did lead to a rapid and dramatic market rise, calling it a &#8220;melt-up.&#8221;



The question, now is whether the current situation will follow the more common pattern of decline or the rarer &#8220;melt-up&#8221; scenario.



<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">S&amp;P 500 has seen a 60% gain in just 2 years The last 3 out of 4 times saw big market declines after But 1 time it did end up in a true melt-up Which one is it going to be this time around? <a href="https://t.co/QywZJANK2U">pic.twitter.com/QywZJANK2U</a>&mdash; Bravos Research (@bravosresearch) <a href="https://twitter.com/bravosresearch/status/1891174402554802495?ref_src=twsrc%5Etfw">February 16, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Talking about the economic impact Ed Yardeni in his Market Call blog said, &#8220;So far, Trump&#8217;s tariff turmoil seems to be weighing more on the U.S., Canada, Mexico, and many other emerging markets than on China and most European countries.&#8221;



That could change once reciprocal tariffs are imposed by the U.S. in early April, unless Trump changes his mind, again, added Yardeni.



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



Upcoming Economic Data



Here&#8217;s what investors will keep an eye on this week:



<ul>
<li>On Tuesday, February&#8217;s Empire State manufacturing survey data will be released at 8:30 a.m., ET.</li>
</ul>



<ul>
<li>February&#8217;s home builder confidence index will be announced at 10:00 a.m., ET.</li>
</ul>



<ul>
<li>San Francisco Fed President Mary C Daly will speak at 10:20 a.m., while Fed Vice Chairman for Supervision Michael Barr will speak at 1:00 p.m., ET.</li>
</ul>



<ul>
<li>On Wednesday, January&#8217;s housing starts and building permits data will be out by 8:30 a.m., ET.</li>
</ul>



<ul>
<li>January&#8217;s minutes of the Federal Reserve Open Market Committee meeting will be released at 2:00 p.m., ET.</li>
</ul>



<ul>
<li>Fed Vice Chairman Philip Jefferson will speak at 5:00 p.m., ET.</li>
</ul>



<ul>
<li>On Thursday, initial jobless claims till Feb. 15 will be announced and the Philadelphia Fed manufacturing survey for Feb will be out by 8:30 a.m., ET.</li>
</ul>



<ul>
<li>Chicago Fed President Austan Goolsbee will be speaking at 09:35 a.m., ET.</li>
</ul>



<ul>
<li>January&#8217;s leading economic indicators will be released at 10:00 a.m., ET.</li>
</ul>



<ul>
<li>Vice Chairman for Supervision Michael Barr will speak again at 2:30 p.m., ET.</li>
</ul>



<ul>
<li>Fed Governor Adriana Kugler will be speaking at 5:00 p.m., ET.</li>
</ul>



<ul>
<li>On Friday, February&#8217;s S&amp;P flash U.S. services PMI and manufacturing PMI will be out by 9:45 a.m., ET.</li>
</ul>



<ul>
<li>The final consumer sentiment data for February and existing home sales data for January will be out by 10:00 a.m., ET.</li>
</ul>



<ul>
<li>Fed Vice Chairman Philip Jefferson will speak again and San Francisco Fed President Mary C Daly will also speak at 11:30 a.m., ET.</li>
</ul>



Stocks In Focus:



<ul>
<li>Medtronic PLC. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>) was up 0.75% in the premarket on Tuesday ahead of its earnings, which will be released before the opening bell. Analysts expect it to report quarterly earnings of $1.36 per share on revenue of $8.32 billion.</li>
</ul>



<ul>
<li>Fluor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLR#NYSE">FLR</a>) advanced 1.34% as Wall Street expects it to report quarterly earnings of 77 cents per share on revenue of $4.42 billion before the opening bell.</li>
</ul>



<ul>
<li>Baidu Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) dropped 2.28% ahead of its earnings, which will be released before the opening bell. Analysts expect it to report quarterly earnings of $1.78 per share on revenue of $4.56 billion.</li>
</ul>



<ul>
<li>Occidental Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) jumped 1.64% as Wall Street expects it to report quarterly earnings of 70 cents per share on revenue of $7.05 billion after the closing bell.</li>
</ul>



<ul>
<li>Aptose Biosciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APTO#NASDAQ">APTO</a>) climbed 17.78% after securing two funding agreements; a $25 million committed equity facility allowing them to sell shares to an investor over two years, and a $1 million at-the-market facility for Nasdaq share sales.</li>
</ul>



<ul>
<li>Pagaya Technologies Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGY#NASDAQ">PGY</a>) zoomed 23.68% after posting record total revenue and other income of $279 million in the fourth quarter along with a record network volume of $2.6 billion.</li>
</ul>



<ul>
<li>MGO Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGOL#NASDAQ">MGOL</a>) plunged 26.42% as shareholders approved the proposed business combination with Heidmar at a special meeting on Friday.</li>
</ul>



Commodities, Gold And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 1.56% to hover around $71.81 per barrel.



The gold spot index was up by 0.48% to $2,912.19 per ounce. The Dollar Index was up 0.34% at 106.932 level.



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



Read Next:



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<li><a href="https://www.benzinga.com/25/02/43774256/gop-megadonor-ken-griffins-citadel-earns-77-return-from-palantir-despite-slashing-13-in-q4-adds-4-mag-7-while-cut">GOP Megadonor Ken Griffin&#8217;s Citadel Scores 77% Return On Palantir Despite Trimming Stake, Doubles Down On These 4 &#8216;Mag 7&#8217; Stocks</a></li>
</ul>



Photo courtesy: Shutterstock

Government

Treasuries

Pre-Market Outlook

Analyst Ratings

APTO

CVNA

MGOL

RIVN

US Stocks Likely To Open Higher Amid Ukraine Peace Talk Hopes As Russian, American Officials Meet

Former U.S. Secretary of Labor Robert Reich has called out the tax reduction plans of the Donald Trump-led administration in an X post, terming them as an &#8220;absolutely shameless giveaway,&#8221; that could shoot up the deficit by $4.6 trillion.



What Happened: The possible tax cuts for rich individuals and lower corporate tax rates are likely to widen the U.S. trade deficit, which the Trump 2.0 administration would most likely fund from the tariffs imposed on its trading partners.



<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">Trump wants to extend his tax cuts for rich individuals, which would add $4.6T to the deficit. But he wants to go even further, cutting the corporate tax rate to 15%. It&#39;s yet another absolutely shameless giveaway. <a href="https://t.co/mkAWOFkkUd">pic.twitter.com/mkAWOFkkUd</a>&mdash; Robert Reich (@RBReich) <a href="https://twitter.com/RBReich/status/1891623719304339516?ref_src=twsrc%5Etfw">February 17, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The data from the Center For American Progress Action Fund or CAPAF shows that cutting the corporate tax rate down to 15% would save all sectors and companies billions of dollars in tax.



<ul>
<li>Top 100 U.S. Companies: Can expect a total annual tax cut of $48 billion despite reporting $1.1 trillion in profits in their 2023 annual report.</li>
</ul>



<ul>
<li>Top 10 U.S. Companies: Reported more than $520 billion in profits according to their 2023 annual report can expect an annual tax cut of $23 billion. These include firms like Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Comcast Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>), and JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>).</li>
</ul>



<ul>
<li>Oil: The five largest U.S. oil companies, including Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>), Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), Marathon Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>), Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>), and Valero Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLO#NYSE">VLO</a>) will receive an estimated $2.2 billion annual tax cut, despite over $80 billion in profits.</li>
</ul>



<ul>
<li>Pharma: The five largest U.S. drug makers, Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>), Merck &amp; Co Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>), Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) and Bristol-Myers Squibb Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) will receive an estimated $3.1 billion annual tax cut, despite over $50 billion in profits.</li>
</ul>



<ul>
<li>Banking: The five largest Wall Street banks, JPMorgan Chase, Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), Wells Fargo &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) and Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) will receive an estimated $4.1 billion annual tax cut, despite nearly $113 billion in profits.</li>
</ul>



<ul>
<li>Grocery: The five largest grocery companies, Kroger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>), Costco Wholesale Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>), Albertsons Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>), Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) and Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) will receive an estimated $1.7 billion annual tax cut, despite over $29 billion in profits.</li>
</ul>



See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/43763438/trump-acting-like-a-mafia-don-says-this-economist-as-uncertainty-mounts-businesses-hold-back-in-fear-of-unforeseen-economic-shifts">Trump &#8216;Acting Like A Mafia Don,&#8217; Says This Economist As Uncertainty Mounts, Businesses Hold Back In Fear Of Unforeseen Economic Shifts</a>



Why It Matters: Trump has threatened all its trading partners with &#8220;reciprocal tariffs,&#8221; while already having implemented 25% on steel and aluminum imports.



According to economists like Craig Shapiro, who is a macro strategist at the Bear Traps Report, tariffs are the "<a href="https://www.benzinga.com/25/02/43587245/tariffs-are-the-only-way-to-fund-tax-cuts-without-deficit-expansion-argues-expert-as-it-takes-center-stage-in-donald-trumps-economic-plan">only way</a>" to fund tax cuts without expanding the federal deficit. 



Shapiro likened Trump&#8217;s governance to that of a &#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/43763438/trump-acting-like-a-mafia-don-says-this-economist-as-uncertainty-mounts-businesses-hold-back-in-fear-of-unforeseen-economic-shifts">Mafia Don</a>,&#8221; saying businesses are now uncertain about the economy&#8217;s direction. He noted fading &#8220;initial euphoria&#8221; and a &#8220;wait-and-see&#8221; approach from business leaders due to unclear policies, tariffs, trade agreement uncertainty, and fluctuating government spending. &#8211;



Price Action: On Friday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) which track the S&amp;P 500 and Nasdaq 100 indices, closed mixed. SPY fell 0.0049% to a value of $609.7, and QQQ was up by 0.42% to end at a value of $538.15, according to Benzinga Pro data.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/02/43773441/ahead-of-gamestops-bitcoin-purchase-plans-blackrock-morgan-stanley-goldman-sachs-and-other-billion-dollar-funds-load-up-on-gme-stock-in-q4">Ahead Of GameStop&#8217;s Bitcoin Purchase Plans, BlackRock, Morgan Stanley, Goldman Sachs, And Other Billion Dollar Funds Load Up On GME Stock In Q4</a></li>
</ul>



Photo courtesy: Shutterstock

Macro Notification

ABBV

CMCSA

COST

Trump's Tax Cut Could Add $4.6 Trillion To Deficit, With $48 Billion Tax Relief For Top 100 Firms: Robert Reich

Bitcoin continued to move sideways on Monday, while Ethereum staged a rebound as investors resorted to a wait-and-watch approach.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 7:45 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>-0.80%</td><td>$95,608.82</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>+2.10%</td><td>$2,726.70</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-3.67%</td><td>$0.2567</td></tr></tbody></table></figure>



What Happened: The world's leading cryptocurrency oscillated between $95,000 and $97,000, extending its rangebound price action.



Ethereum, on the other hand, rallied to a two-week high of $2,848.78 before paring gains by the evening.



Bitcoin's dominance rose to 59.8% over the last 24 hours, after a 3.16% increase.



Cryptocurrency liquidations hit $238 million in the last 24 hours, with long liquidations amounting to nearly $150 million.



Bitcoin's Open Interest rose by 1.58%. A rise in Open Interest, coming alongside a sideways price action, indicated potential volatility in the future.



Additionally, the number of traders opening long positions for Bitcoin surged when compared to those betting on its decline, according to the Long/Short Ratio.



Market sentiment remained "Neutral" as of this writing, according to the Crypto Fear &amp; Greed Index.&nbsp;



Top Gainers (24-Hours)



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 7:45 p.m. ET)</td></tr><tr><td>Sonic (S)</td><td>+12.82%</td><td>$0.6019</td></tr><tr><td>Berachain (BERA)</td><td>+8.01%</td><td>$6.04</td></tr><tr><td>Maker (MKR)</td><td>+5.42%</td><td>$1,046.67</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.17 trillion, contracting by 0.92% in the last 24 hours.



Stock futures ticked higher Monday evening. The Dow Jones Industrial Average Futures rose 67 points, or 0.15%, as of 7:45 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 gained 0.15%, while Nasdaq 100 Futures rose 0.14%.



The Federal Reserve will release the meeting minutes on Wednesday, giving investors further cues on the <a href="https://www.benzinga.com/25/02/43668443/powell-to-congress-fed-is-not-there-yet-on-inflation-cpi-was-above-every-forecast-us-debt-path-is-unsustainable">central bank's position on interest rates</a>.



The New York Stock Exchange and Nasdaq will resume trading on Tuesday after the Presidents Day holiday.



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



Analyst Notes: Leading on-chain analytics firm Santiment noted Ethereum's recovery and outperformance vis-à-vis altcoins.



"From a long-term perspective, ETH continues to move off of exchanges and into cold wallets at a shocking pace, with just 6.38% of the available supply on exchanges," Santiment data showed, indicating a lower likelihood of a large sell-off event.



<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">&#x1f4c8; Ethereum has shown mild signs of a rebound, currently back up to a market value of $2,745 and outpacing most altcoins to start the week. From a long-term perspective, ETH continues to move off of exchanges and into cold wallets at a shocking pace, with just 6.38% of the… <a href="https://t.co/4MTJgpOLDT">pic.twitter.com/4MTJgpOLDT</a>&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1891625787620577568?ref_src=twsrc%5Etfw">February 17, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Santiment responded to an X user&#8217;s question about the impact of Ethereum&#8217;s shrinking supply on its price action. While they acknowledged the positive effect, they emphasized that it should be viewed as a &#8220;long-term&#8221; metric.



<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">Generally, yes. Because it decrease the probability of a major upcoming sell-off. But it should be considered a long-term metric, rather than one to react to on a swing trading basis. &#x1f44d;&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1891654021946966230?ref_src=twsrc%5Etfw">February 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Influential cryptocurrency expert and trader Ali Martinez noted a bearish crossover for the Moving Average Convergence Divergence indicator on Bitcoin's weekly chart. The analyst stated that this signal has historically preceded "significant price corrections" in the apex cryptocurrency.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The MACD just had a bearish crossover on the weekly chart, a signal that has historically preceded significant price corrections in <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>! <a href="https://t.co/C1RiMygOEZ">pic.twitter.com/C1RiMygOEZ</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1891581886671298817?ref_src=twsrc%5Etfw">February 17, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Martinez also drew attention to the large sell-offs by Bitcoin miners over the past week, with over 2,000 BTCs getting offloaded.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> miners have offloaded over 2,000 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> in the past week! <a href="https://t.co/oFz2PfhyEA">pic.twitter.com/oFz2PfhyEA</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1891639264867385596?ref_src=twsrc%5Etfw">February 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo by CMP_NZ on Shutterstock



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



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<li><a href="https://www.benzinga.com/25/02/43769603/argentinas-stock-market-plummets-amid-milei-meme-coin-controversy">Argentina&#8217;s Stock Market Plummets Amid Milei Meme Coin Controversy</a></li>
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$DOGE

$ETH

Bitcoin, Dogecoin Weak, Ethereum Rebounds Amid Muted Investor Sentiment: ETH Moving To Cold Wallets At 'Shocking Pace' A Positive For Price Action In The Long-Term

Sen. Chuck Schumer (D-N.Y.) has voiced concerns over the Federal Aviation Administration&#8217;s safety standards following recent layoffs, in the wake of a flight accident involving Delta Air Lines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) at the Toronto Pearson Airport.



What Happened: Schumer took to X on Monday to express his views on the recent plane incident in Toronto, which originated from Minneapolis. He emphasized the FAA&#8217;s responsibility in inspecting aviation equipment, regardless of the plane&#8217;s destination. 



<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">To those asking whether it matters that the plane's destination was in Canada: The flight took off from Minneapolis. The FAA was still responsible for inspecting the aviation equipment, and Trump just let go of FAA safety specialists. <a href="https://t.co/uCpjHtqLnd">https://t.co/uCpjHtqLnd</a>&mdash; Chuck Schumer (@SenSchumer) <a href="https://twitter.com/SenSchumer/status/1891646582082167166?ref_src=twsrc%5Etfw">February 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



In his post, Schumer stated, &#8220;To those asking whether it matters that the plane's destination was in Canada: The flight took off from Minneapolis. The FAA was still responsible for inspecting the aviation equipment, and Trump just let go of FAA safety specialists.&#8221;



He further criticized the Trump administration for the recent FAA layoffs amid a spate of recent accidents involving planes and said &#8220;We keep seeing these incidents day after day.&#8221; Schumer said that the &#8220;Democrats are fighting to protect the flying public.&#8221;<a href="https://x.com/SenSchumer/status/1891624153385464199"></a>



See Also: <a href="https://www.benzinga.com/news/25/02/43770990/chinas-ai-boom-is-reshaping-the-global-economy-and-the-u-s-isnt-ready">China&#8217;s AI Boom Is Reshaping The Global Economy—And The U.S. Isn&#8217;t Ready</a>



Why It Matters: The Trump administration fired hundreds of FAA employees, including those working on radar and navigation systems, sparking concerns over aviation safety and national security, according to an Associated Press <a href="https://apnews.com/article/doge-faa-air-traffic-firings-safety-67981aec33b6ee72cbad8dcee31f3437">report</a>. 



The layoffs, which reportedly targeted probationary workers, came just weeks after a <a href="https://www.benzinga.com/25/01/43328465/no-survivors-yet-to-plane-crash-near-reagan-national-airport-american-airlines-ceo-heads-to-washington">fatal midair collision</a>. Some affected employees claim political motivations behind their dismissals, while federal officials insist critical safety functions remain intact.



Schumer&#8217;s comments come after a Delta regional jet <a href="https://www.benzinga.com/25/02/43771116/delta-air-lines-jet-overturns-at-toronto-pearson-airport-amid-snowstorm-18-injured-3-critical">overturned</a> while landing at Toronto airport amidst a snowstorm, resulting in injuries to 18 people, three of whom are critically hurt. The flight had originated from Minneapolis-St. Paul International Airport.



Image via Shutterstock



Check This Out:



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<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Chuck Schumer Blasts Trump FAA Layoffs After Delta Plane Overturns On Landing In Toronto: President Fired 'Safety Specialists'

Mexico reiterates its <a href="https://in.benzinga.com/25/02/43721460/google-under-fire-as-mexico-considers-lawsuit-over-gulf-of-mexico-name-change">warning to take legal action</a> against Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google over the naming of the "Gulf of Mexico" on its Maps service.



What Happened: On Monday, Mexican President Claudia Sheinbaum stated that the country is waiting for a new response from Google before proceeding with a lawsuit, <a href="https://apnews.com/article/gulf-mexico-america-sheinbaum-trump-google-maps-81daabb926ab2bc4d90eb5665d96f515">reported</a> the Associated Press.



She shared a letter from Cris Turner, Google&#8217;s VP of government affairs and public policy, which stated that Google will not alter its policy after U.S. President Donald Trump <a href="https://www.benzinga.com/government/regulations/25/01/43086509/trump-unleashes-executive-orders-on-border-security-oil-drilling-domestic-manufacturing-in-first-acts-as-president">called the body of water</a> the "Gulf of America."



Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.



"We will wait for Google's response and if not, we will proceed to court," the Mexican President said.



Why It Matters: Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has also <a href="https://in.benzinga.com/25/02/43647452/apple-follows-trumps-order-renames-gulf-of-mexico-google-already-made-the-change-but-these-two-companies-are-holding-out">updated its Maps app</a> to reflect the change for U.S. users. However, Microsoft Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Bing Maps and MapQuest Inc. have not yet made the same decision.



Price Action: As of this writing, Alphabet's Class A shares edged up 0.0054% in after-hours trading to $185.24, while Class C shares climbed 0.052% to $186.97, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>.



Photo Courtesy: Shutterstock



Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.



Read Next:



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<li><a href="https://in.benzinga.com/media/25/02/43646042/elon-musks-97-4-billion-openai-takeover-bid-reportedly-not-received-by-chatgpt-parent-another-one-of-his-tactics-says-sam-altman" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s $97.4 Billion OpenAI Takeover Bid Reportedly Not Received By ChatGPT Parent: ‘Another One Of His Tactics,&#8217; Says Sam Altman</a></li>
</ul>



Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Media

After Google Stands Firm On 'Gulf of America' Label, Mexico Says It's Waiting For A New Response Or 'Will Proceed To Court'

The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, with the index in the &#8220;Fear&#8221; zone on Friday.



U.S. stocks settled mixed on Friday, with the Dow Jones index falling more than 150 points during the session.



However, stocks recorded gains last week, with the S&amp;P 500 gaining around 1.5% and the Dow rising 0.6%. The Nasdaq gained 2.6% during the week.



Traders digested weaker-than-expected retail sales and the potential for peace talks between Russia and Ukraine. Retail sales in the U.S. fell 0.9% month-over-month in January, significantly worse than the anticipated 0.1% drop.



SoundHound AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOUN#NASDAQ">SOUN</a>) shares dipped 28% on Friday after Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) disclosed in a 13F filing that it dissolved its stake in the company. Shares of Serve Robotics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SERV#NASDAQ">SERV</a>) tumbled 40% after an amended 13G filing shows Nvidia holds no stake in the company.



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



The Dow Jones closed lower by around 165 points to 44,546.08 on Friday. The S&amp;P 500 fell 0.01% to 6,114.63, while the Nasdaq Composite jumped 0.41% to 20,026.77 during Friday's session.



Investors are awaiting earnings results from Medtronic plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>), Occidental Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>), and Fluor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLR#NYSE">FLR</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 44.5, the index was in the &#8220;Fear&#8221; zone on Friday, versus a prior reading of 43.3.



The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.



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Photo courtesy: Shutterstock

SERV

SOUN

Dow Dips Over 150 Points, But Records Weekly Gain: Investor Sentiment Improves, Greed Index In 'Fear' Zone

Editor&#8217;s Note: This story has been updated to include a statement from Minnesota Governor Tim Walz and Delta Air Lines.



A Delta Air Lines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) regional jet flipped over&nbsp;upon landing at Toronto Pearson&nbsp;Airport on Monday, resulting in injuries to 18 people, three of whom are critically hurt.



What Happened: As per a&nbsp;Reuters report, the Delta Air Lines regional jet, run&nbsp;by its Endeavor Air arm, overturned while&nbsp;landing at Toronto Pearson Airport&nbsp;amidst a snowstorm and windy weather conditions.



The flight, which originated from Minneapolis-St. Paul International Airport, had 76 passengers and four crew members on board. Among the injured, a child is among the three critically injured.



The aircraft involved was a CRJ900, made by Canada&#8217;s Bombardier. An investigation into the cause of the crash has been announced by Canadian authorities.



An emergency worker reported the aircraft as upside down and on fire. A video posted on social media depicted the plane&nbsp;lying overturned on the snow-covered&nbsp;tarmac, with fire engines spraying water on it.



Delta confirmed that all 18 injured passengers were taken to local hospitals. The Toronto airport was briefly shut down, disrupting flights and forcing reroutes to other airports.



The Transportation Safety Board of Canada and the U.S. National Transportation Safety Board are deploying teams of investigators. Japan&#8217;s Mitsubishi Heavy Industries, Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MHVYF#OTC">MHVYF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MHVIY#OTC">MHVIY</a>), which bought the CRJ aircraft program from Bombardier in 2020, has pledged full cooperation with the investigation.



Minnesota Gov. Tim Walz (D) said Monday he was &#8220;in touch with Delta&#8221; after a flight crash-landed at Toronto Pearson International Airport, <a href="https://thehill.com/policy/transportation/5149988-delta-flight-crash-landing-toronto/">reported</a> The Hill.



Delta said in a statement that it had canceled its flights to and from Toronto for the evening and issued a travel waiver. The airline says it has activated its &#8220;Passenger Inquiry Center&#8221; for the families and others connected to the affected customers.



CEO Ed Bastian said that the &#8220;hearts of the entire global Delta family are with those affected by today's incident.&#8221;



See Also: <a href="https://www.benzinga.com/news/25/02/43770088/expert-warns-gas-prices-could-surge-another-45-cents-in-some-states-is-yours-one-of-them">Expert Warns: Gas Prices Could Surge Another 45 Cents In Some States — Is Yours One Of Them?</a>



Why It Matters: This accident comes on the heels of other recent aviation incidents. In January, a&nbsp;<a href="https://www.benzinga.com/25/01/43328465/no-survivors-yet-to-plane-crash-near-reagan-national-airport-american-airlines-ceo-heads-to-washington">PSA Airlines Bombardier CRJ700 regional jet collided</a>&nbsp;with a helicopter near Reagan Washington National Airport, causing the plane to fall into the Potomac River. 



In December, a&nbsp;<a href="https://www.benzinga.com/general/travel/24/12/42715729/tragic-plane-crash-at-s-koreas-muan-international-airport-181-on-board">passenger plane crashed</a>&nbsp;while attempting to land at Muan International Airport in South Korea. 



Price Action: Delta Air Lines stock ended Friday higher by 2.08% at $65.39, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.



Photo by VanderWolf via Shutterstock



Did You Know?



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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
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Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

MHVIY

MHVYF

Delta Air Lines Jet Overturns At Toronto Pearson Airport Amid Snowstorm — 18 Injured, 3 Critical (UPDATED)

Robert Kiyosaki is warning of an impending market crash and massive layoffs, and urging people to prepare <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43219306/robert-kiyosaki-foresees-bitcoin-surpassing-us-dollar-as-good-money">rather than pretend</a>.



What Happened:&nbsp;Last week, Kiyosaki took to X to express his concerns about the economic future. He predicted an acceleration in layoffs, with President Donald Trump set to eliminate 65,000 jobs. He also mentioned that oil companies and car manufacturers like Nissan and Volkswagen are laying off thousands of workers due to a contracting economy.



<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">LAY OFFS to accelerate. Trump to eliminate 65000 jobs. Even oil companies laying off thousand of workers because the economy is contracting. Car companies such as Nissan and Volkswagen laying thousands of workers. It's not going to be a soft landing. STOP DREAMING. Prepare…&mdash; Robert Kiyosaki (@theRealKiyosaki) <a href="https://twitter.com/theRealKiyosaki/status/1889918470227370045?ref_src=twsrc%5Etfw">February 13, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Kiyosaki, known for his financial literacy advocacy, further warned of a possible depression and war. 



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43423389/robert-kiyosaki-predicts-gold-silver-bitcoin-crash-over-trumps-tariffs-says-its-a-buying-moment">Robert Kiyosaki Predicts Gold, Silver, Bitcoin Crash Over Trump&#8217;s Tariffs—Says It&#8217;s A Buying Moment</a>



He emphasized the importance of preparation over pretense, advising his followers to&nbsp;stop listening to government officials&nbsp;promising a &#8220;soft landing&#8221;.



Why It Matters:&nbsp;Kiyosaki&#8217;s tweet comes at a time of economic uncertainty, with many industries facing layoffs due to the contracting economy. 



His warning about a potential market crash and depression resonates with many who are concerned about the future. 



His advice to prepare rather than pretend underscores the seriousness of the situation and his belief in the importance of financial education and preparedness.



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Image: Shutterstock

Robert Kiyosaki Predicts Wall Street Crash and Layoffs: 'Prepare for Market Crash, Depression and War'

Robert Oneal, a Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Cybertruck owner from Los Angeles, gained widespread attention after saying he was punched in the face for simply driving the eccentric electric pickup. The attacker allegedly called him a &#8220;capitalist swine&#8221; before taking a swing, which Oneal described as a &#8220;miserable punch.&#8221; Despite the altercation, Oneal, a former Navy member, wasn't hurt and even tried to hug the attacker afterward, though it didn't go well.



<figure class="wp-block-embed is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I got punched in the face tonight because I have a cybertruck. I feel bad for that guy. I tried to hug him after. That didn't go well &#x1f602;&#x1f602;&#x1f602;&mdash; Robert Oneal (@Robdontstop69) <a href="https://twitter.com/Robdontstop69/status/1888836301207802112?ref_src=twsrc%5Etfw">February 10, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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Rather than holding a grudge, Oneal responded with an unexpected act of kindness. He posted a <a href="https://x.com/Robdontstop69/status/1888854429140668680">video</a> announcing that every time he sees another Cybertruck on the road, he'll leave a $1 bill and draw a heart on it, saying, "I'm trying to spread the love." In the video, he placed two $1 bills and a heart drawn in grime on a parked Cybertruck and revealed $100 in singles ready for future encounters.



<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">Let's spread the love <a href="https://t.co/IJXxzfultz">pic.twitter.com/IJXxzfultz</a>&mdash; Robert Oneal (@Robdontstop69) <a href="https://twitter.com/Robdontstop69/status/1888854429140668680?ref_src=twsrc%5Etfw">February 10, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



While many on X supported Oneal's gesture, with one user saying, "All this hate needs to stop," others found it amusing. Oneal joked, "I guess I'm built like my Cybertruck."



Trending: Many don&#8217;t know there are tax benefits when buying a unit as an investment —<a href="https://www.benzinga.com/money/casa-shares"> Here&#8217;s how to invest in real estate by mirroring BlackRock's big move</a>



However, reactions on Reddit were more critical. In the satirical r/CyberStuck <a href="https://www.reddit.com/r/CyberStuck/comments/1int3lg/a_tesla_cybertruck_owner_from_los_angeles_says/">subreddit</a>, one user commented, "It's hilarious how superficial their message is by giving a dollar to every Cybertruck driver. He's treating other Cybertrucks like they're homeless people on the street." Another added, "This is a level of imagined persecution I did not previously feel was achievable by society."



Oneal's experience isn't unique. Many Cybertruck owners have shared similar stories of facing public backlash and mocking. A Florida owner said that driving a Cybertruck often leads to political assumptions, false claims about the vehicle, and even threats. A California owner recalled receiving insults, rude gestures, and even being told to harm himself.



See Also: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a>



These incidents come as Tesla <a href="https://www.benzinga.com/25/02/43456592/tesla-researcher-expects-cybertruck-deliveries-to-fall-in-2025-order-backlog-is-gone">struggles to sell</a> the Cybertruck. Despite over a million reservations initially, <a href="https://www.benzinga.com/25/01/42967593/cybertruck-sales-rise-in-2024-weighed-down-on-tesla-model-s-deliveries-in-us-shows-data">fewer than 40,000 units have been sold</a>. Tesla has introduced $750 monthly leases, $1,000 referral discounts, and even free $6,000 wraps for its Foundation Series Cybertrucks to boost sales. But even with these incentives, the electric pickup is proving difficult to move, leading some to question the future of the Cybertruck program.



This story has added another layer to the ongoing conversation around the Cybertruck's rocky rollout. Whether his trend will catch on remains to be seen, but for now, it's clear that the Cybertruck continues to spark strong opinions on both sides.



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After Being 'Punched For Driving A Cybertruck,' This Tesla Owner Is Leaving $1 Bills On Other Cybertrucks To 'Spread The Love'

<h2 class="wp-block-heading">Man Pleads Guilty To Hacking SEC Social Media Account</h2>



The U.S. Department of Justice on Monday<a href="https://www.justice.gov/opa/pr/alabama-man-pleads-guilty-connection-securities-and-exchange-commission-x-account-hack"> announced that</a> Eric Council pleaded guilty to conspiracy to commit aggravated identity theft in a federal court in Washington, D.C.. Council is accused of hacking the SEC's X account and posting a fake Bitcoin exchange-traded <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43614251/hacker-pleads-guilty-to-secs-fake-bitcoin-etf-post-on-x-that-triggered-financial-wipeout-worth-millions">fund approval message. </a>



The Details: According to court documents, Council and other conspirators gained control of the SEC's X account through an unauthorized Subscriber Identity Module (SIM) swap, a process of fraudulently reassigning a cell phone number from the legitimate subscriber or user's SIM card to a SIM card controlled by a criminal actor. 



Read Next: <a href="https://www.benzinga.com/25/02/43703014/robert-f-kennedy-confirmed-as-trump-secretary-of-health">Robert F. Kennedy, Vaccine Skeptic, Confirmed As Trump&#8217;s Secretary Of Health: Health Care Stocks To Watch</a>



The defendant's co-conspirators then accessed the SEC Chairman's X account and posted a fake message that Bitcoin ETFs had received approval. Council received payment in bitcoin from his co-conspirators for his role in the fraud.&nbsp;&nbsp;



Council faces a maximum penalty of five years in prison and is scheduled to be sentenced on May 16, 2025.



<h2 class="wp-block-heading">Two Men Plead Guilty In $577 MIllion Crypto Fraud Case&nbsp;</h2>



Two Estonian nationals <a href="https://www.justice.gov/opa/pr/two-estonian-nationals-plead-guilty-577m-cryptocurrency-fraud-scheme">pleaded guilty </a>on Wednesday for their operation of a multi-faceted cryptocurrency Ponzi scheme. The defendants also agreed to forfeit assets valued over $400 million obtained during the conspiracy as part of the plea deal. 



The Details: According to court documents, Sergei Potapenko and Ivan Turõgin sold contracts to customers entitling them to a share of cryptocurrency mined by the defendants' purported cryptocurrency mining service, HashFlare.



However, Hashflare did not have the computing power to perform most of the mining operations they told clients it performed. Between 2015 and 2019, Hashflare's sales totaled more than $577 million.&nbsp;



Potapenko and Turõgin each pleaded guilty to one count of conspiracy to commit wire fraud with sentencing scheduled on May 8 and face up to 20 years in prison. 



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Image: Shutterstock

Social Media

Financial Crime Weekly: Man Pleads Guilty To Hacking SEC Social Media Account, Two Plead Guilty In $577 Million Crypto Fraud Scheme

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