The retail investing landscape is changing as individuals are increasingly looking to take on more risk. Yoni Assia, co-founder and CEO of investing platform eToro, believes crypto is playing a big role in the <a href="https://www.benzinga.com/money/retail-investors-ve-institutional-investors">evolution of the retail investor</a>.



What To Know: Tuesday at the <a href="https://www.benzinga.com/fintech-awards?__hstc=28787939.5f6980ec6f37192ae95c332ee656a790.1732029557803.1732029557803.1732029557803.1&amp;__hssc=28787939.1.1732029557803&amp;__hsfp=3317113319">Benzinga Fintech Deal Day &amp; Awards</a>, Assia made the case that risk appetite is the biggest difference between older generations and retail investors today.



Older generations focused on dividend yields, the Baby Boomers started focusing on price-to-earnings multiples, Gen X began focusing more on growth, Millennials took it a step further and focused on tech stocks and now Gen Z is more focused on crypto and things like Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) becoming the currency of Mars, he said.



EToro started the year with just 2% of its customers trading crypto and now has more than 90% of customers involved with crypto in some capacity across its platform, Assia said.



Crypto is driving that bigger tolerance for risk due to its becoming a &#8220;generational asset class&#8221; and a &#8220;gateway trade&#8221; for a lot of individual investors. Many retail investors come to the platform to trade Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), for example, and then end up exploring other investment options, he said.



Many crypto investors have a higher appetite for risk and as crypto investors cross into traditional markets, retail traders are starting to make a bigger splash. The surge in retail investors in recent years has changed market dynamics, Assia explained.



Check This Out: <a href="https://www.benzinga.com/news/events/24/11/42071064/exclusive-anthony-pompliano-calls-for-us-to-buy-250b-bitcoin-on-day-1-of-trump-administration-protect-our-future-its-such-a-no-brainer">EXCLUSIVE: Anthony Pompliano Calls For US To Buy $250B Bitcoin On Day 1 Of Trump Administration: &#8216;Protect Our Future, It&#8217;s Such A No Brainer&#8217;</a>



The way investors get information has also changed. In the past, a lot of individuals would read investment reports and put a lot of time into researching a potential investment, but now traders are getting information very quickly from various news outlets and from other individual investors on social media platforms like Reddit and X. If they are reading research reports, they are likely using ChatGPT or another LLM to pull the key information, he added.



When talking about retail investors versus individual investors, you often hear the terms &#8220;dumb money&#8221; and &#8220;smart money,&#8221; but &#8220;I think that&#8217;s completely wrong,&#8221; Assia said: &#8220;We see it on our platform.&#8221;



eToro allows investors to see what other investors on the platform are doing and even copy their trades. Assia told the crowd at the Benzinga conference that there are 3,200 investors on the platform that are being copied by other traders. Most of those investors consistently generate double-digit returns and often outpace the S&amp;P 500. 



&#8220;These are like hedge-fund level returns of our top retail investors on the platform. I think this narrative is coming from the people who want to manage the retail&#8217;s money and don&#8217;t want them to manage their own money,&#8221; he said. 



The playing field is already in the process of being leveled and new AI tools are only going to help accelerate retail&#8217;s ability to see consistent success in the markets, Assia said. 



The <a href="https://www.benzinga.com/fintech-awards?__hstc=28787939.5f6980ec6f37192ae95c332ee656a790.1732029557803.1732029557803.1732029557803.1&amp;__hssc=28787939.1.1732029557803&amp;__hsfp=3317113319">Benzinga Fintech Deal Day &amp; Awards</a> panel was called &#8220;The Evolution of the Retail Investor&#8221; and was hosted by CoinDesk&#8217;s Benjamin Schiller.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42069891/sp-500-to-reach-6500-by-end-of-2025-analysts-predict-could-it-spark-ma-revival">S&amp;P 500 To Reach 6,500 By End Of 2025, Analysts Predict: Could It Spark M&amp;A Revival?</a></li>
</ul>



Photo: Shutterstock.

Cryptocurrency

News

Events

Movers

$BTC

$DOGE

EXCLUSIVE: Retail Investors Are Taking On More Risk And Finding Success — Is Crypto Acting As A 'Gateway Trade?'

Cryptocurrency markets are trading higher, with Bitcoin recording a new all-time high at $94,040, according to Coingecko data. 



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>&nbsp;$93,312.89</td><td>+2.9%</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>&nbsp;$3,122.39</td><td>-0.3%</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>&nbsp;$243.76</td><td>+2.9%</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>&nbsp;$0.4053</td><td>+10%</td></tr><tr><td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>&nbsp;$0.00002537&nbsp;&nbsp;</td><td>+4%</td></tr></tbody></table></figure>



Notable Statistics:



<ul>
<li>IntoTheBlock data shows large transaction volume increasing by 102.3% and daily active addresses up by 13%. Transactions greater than $100,000 are up from 8,261 to 11,812 in a single day. Exchanges netflows are down by 192%.</li>



<li>Coinglass data reports 98,554 traders were liquidated in the past 24 hours for $289.96 million. Open interest spiked to $59.3 billion.</li>
</ul>



Notable Developments:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42059827/crypto-exchange-gemini-launches-services-in-france-following-regulatory-approval">Crypto Exchange Gemini Launches Services In France Following Regulatory Approval</a></li>



<li><a href="https://www.benzinga.com/24/11/42069770/us-congress-could-set-the-stage-for-broader-crypto-adoption-says-digital-asset-leader">Crypto Growth Hinges On &#8216;Thoughtful Policy,&#8217; Clear Regulations, Says Expert</a></li>



<li><a href="https://www.benzinga.com/trading-ideas/movers/24/11/42069258/whats-going-on-with-bakkt-holdings-stock-tuesday">What&#8217;s Going On With Bakkt Holdings Stock Tuesday?</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42055570/bitfinex-bitcoin-laundering-case-lands-crocodile-of-wall-street-in-jail">Bitfinex Bitcoin Laundering Case Lands &#8216;Crocodile Of Wall Street&#8217; In Jail</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42058823/blackrocks-spot-bitcoin-etf-to-open-for-options-trading-heres-why-it-could-be-a-big-deal-for-bitcoin">BlackRock&#8217;s Spot Bitcoin ETF To Open For Options Trading: Here&#8217;s Why It Could Be A Big Deal For Bitcoin</a></li>
</ul>



Top Gainers:



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Bonk (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BONK</a>)</td><td>&nbsp;$0.00005573</td><td>+14%</td></tr><tr><td>Hedera (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/hbar/usd">HBAR</a>)</td><td>&nbsp;$0.1378</td><td>+13.5%</td></tr><tr><td>Goatseus Maximus (CRYPTO: GOAT)</td><td>&nbsp;$1.17&nbsp;</td><td>+12.8%</td></tr></tbody></table></figure>



Trader Notes: With Bitcoin prices crossing all-time highs of $94,000, crypto trader Jacob Canfield predicts a minimum target of $97,000.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> &#8211; A breakout fom our ascending triangle above here should give us a minimum target of $97,000. <a href="https://t.co/PLtKTWEmlz">pic.twitter.com/PLtKTWEmlz</a>&mdash; Jacob Canfield (@JacobCanfield) <a href="https://twitter.com/JacobCanfield/status/1858928153185427592?ref_src=twsrc%5Etfw">November 19, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Crypto trader More Crypto Online hopes that Bitcoin can move forward toward $95,000 and then maybe $97,000. On the other hand, the trader <a href="https://x.com/Morecryptoonl/status/1858936812082807069">remains</a> cautious suggesting this could be a corrective range. He believes the structure lacks clear direction and momentum and is therefore very fragile.



Santiment data noted that with Bitcoin peaking to all-time highs, whale transactions and retail FOMO could make the "short-term price action unpredictable, but the long-term indicators for Bitcoin looking quite sound."



It also added that in any long-term bull market, dormant coins continuously moving back into circulation.



<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">&#x1f973; Bitcoin has officially made a new all-time high, scraping as high as $93,850 on Coinbase at the time of this writing. Whale transactions and retail FOMO may make the short-term price action unpredictable, but the long-term indicators for BTC (and therefore, crypto) look quite… <a href="https://t.co/Ae5qtdU8QN">pic.twitter.com/Ae5qtdU8QN</a>&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1858942762206261428?ref_src=twsrc%5Etfw">November 19, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/news/events/24/11/42069387/grant-cardone-calls-himself-a-coward-investor-puts-his-money-in-real-assets">Grant Cardone Calls Himself A &#8216;Coward Investor,&#8217; Puts His Money In &#8216;Real Assets&#8217;</a></li>
</ul>



Image: Shutterstock

$BONK

$ETH

$HBAR

$SHIB

$SOL

Bitcoin Crosses $94,000 For New All-Time High, Dogecoin Back At $0.40, Ethereum Flat: 'Short-Term Price Action Unpredictable,' Say Analysts

Entrepreneur Anthony Pompliano expects more cryptocurrency companies to go public and or get acquired now that a new pro-crypto administration is in <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41403206/bitcoin-is-the-simplest-story-in-finance-will-climb-regardless-of-election-winner-says-ant">the White House.</a>



Coinbase a Winner: Pompliano compared Coinbase Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) to iPhone maker Apple during a discussion at the<a href="https://www.benzinga.com/digital-assets"> 2024 Benzinga Future of Digital Assets </a>conference.



"Coinbase has something that can't be bought, they have trust," Pompliano said.



Pompliano, an investor in Coinbase, highlighted the company as one of the last big crypto IPOs. In his opinion, Coinbase does right by people, has a product that people love and has grown by word of mouth. With new investors getting interested in crypto, Coinbase has <a href="https://www.thestreet.com/crypto/markets/coinbase-app-climbs-in-ranking-after-trumps-win-and-bitcoin-shatters-records">become</a> the number one app in the app store again thanks to its brand awareness.



Pompliano said that while Apple may not have the best phone in the world, the company's brand and connected network of products make the iPhone a strong seller.



"Coinbase is putting together a brand of products," he said.



Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41916359/bitcoin-is-the-decentralized-king-says-anthony-pompliano-whose-100000-price-prediction-is-close-to-coming-true">Bitcoin Is The &#8216;Decentralized King,&#8217; Says Anthony Pompliano, Whose $100,000 Price Prediction Is Close To Coming True</a>



IPOs and M&amp;A: Pompliano expects the cryptocurrency sector to power a renaissance of IPOs. Young investors, for years wanted to be angel investors and deal with illiquid stakes in companies and investments, Pompliano said.



Crypto is all about liquidity and a new generation of crypto investors realizes the value of liquidity, he added.



Pompliano said right now more companies are going private than public and there are around 4,000 public companies, down from 8,000 in the 1990s.



"The progression into public is going to happen in general," Pompliano said.



The investor also predicts that M&amp;A activity will pick up in the cryptocurrency sector as some companies aren't sustainable. Companies in some cases have built cool products, but don't have a good business model, he added.



Moderator MacKenzie Sigalos of CNBC and Pompliano also discussed the fact that Circle has been wanting to go public for a long time.



Pomplinao said the long-time question is if the government will have too big of an interest in Circle as the largest owner of USD Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>). If Circle goes public it could become more valuable and the bad thing is the company could get too big, Pompliano added.



Coincheck, a Japanese cryptocurrency exchange <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38698334/japanese-crypto-exchange-coincheck-to-list-on-nasdaq-listing-via-spac-merger">going public via SPAC merger</a> with Thunder Bridge Capital Partners IV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/THCP#NASDAQ">THCP</a>), was also used to illustrate the potential change in crypto companies getting approval to go public.



What's Next: Pompliano said Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is the only asset in the world that the higher it goes, the less risky it becomes.



He added that institutions are continuing to become more attracted to Bitcoin as they are subject to FOMO (fear of missing out) just like retailer investors.



"I don't think you've seen anything yet," Pompliano said on institutional interest in Bitcoin.



Pompliano said that, for institutions, the final boss level is when they get their own cryptocurrency custody &#8212; something he predicts could happen in the next 24 months.



The investor also said Tuesday that the United States <a href="https://www.benzinga.com/news/events/24/11/42071064/exclusive-anthony-pompliano-calls-for-us-to-buy-250b-bitcoin-on-day-1-of-trump-administration-protect-our-future-its-such-a-no-brainer">should buy $250 billion</a> in Bitcoin for its strategic reserves.



Pompliano said that while global currencies have often been put into place after violent conflicts are completed, Bitcoin will rise and become a reserve currency without dropping bombs.



Price Action: Bitcoin trades at $92,517.23 at the time of writing, up 1% over the last 24 hours and up 6% over the last week. Bitcoin hit an all-time high of $93,434.26 on Nov. 13.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41274733/in-2022-bitcoin-helped-to-humble-anthony-pompliano-a-look-at-how-his-price-predictions-hav">In 2022, Bitcoin &#8216;Helped To Humble&#8217; Anthony Pompliano: A Look At How His Price Predictions Have Evolved</a></li>
</ul>



Image: Shutterstock

Exclusives

$USDC

COIN

THCP

EXCLUSIVE: Bitcoin Advocate Anthony Pompliano Says Coinbase Is Similar To Apple, 'Has Something That Can't Be Bought'

Wall Street managed to recover from a red start caused by heightened geopolitical tensions stemming from the <a href="https://www.benzinga.com/topic/russia">ongoing Russia-Ukraine conflict.</a>



Ukraine launched its first U.S.-made missile strike on a Russian city, while Russian President Vladimir Putin adjusted the nation's nuclear doctrine to broaden scenarios for a potential response. Yet, Russian Foreign Minister Sergei Lavrov sought to assuage fears of a nuclear escalation, stating that a nuclear war is not something Russia is considering.



Amid the geopolitical noise, investors remained focused on corporate earnings. Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>), often regarded as a bellwether of consumer health, surpassed expectations for the recent quarter. The retailer&#8217;s stock surged 4%, hitting fresh all-time highs and boosting market sentiment.



At midday, both the S&amp;P 500 and Nasdaq 100 posted marginal gains, while blue-chip stocks showed a slight deceleration and small caps held steady.



In fixed income, longer-dated bond yields dipped, with the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) climbing 0.5%. The U.S. dollar gained 0.1%, attempting to rebound after two consecutive sessions of losses.



Geopolitical risks lifted demand for commodities, with gold and oil rebounding 0.8% and 0.5%, respectively. Natural gas prices – as closely tracked by the United States Natural Gas Fund LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNG#NYSE">UNG</a>) – extended the rally, adding 2.6% after a 5.3% jump on Monday and hitting the highest levels since June. 



Meanwhile, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) continued to display extraordinary strength, with the cryptocurrency breaking to a new all-time high of $93,931, underscoring robust market interest despite broader macro uncertainties.



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



<figure class="wp-block-table is-style-stripes"><table><tbody><tr><td>Major Indices</td><td>Price</td><td>1-day %chg</td></tr><tr><td>Nasdaq 100</td><td>20,610.47</td><td>0.3%</td></tr><tr><td>S&amp;P 500</td><td>5,907.68</td><td>0.2%</td></tr><tr><td>Russell 2000</td><td>2,309.75</td><td>0.1%</td></tr><tr><td>Dow Jones</td><td>43,316.79</td><td>-0.2%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated at 13:10 p.m. ET</figcaption></figure>



According to&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent111924&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:



<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.2% to $589.41.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;fell 0.3% to $433.10.</li>



<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) edged 0.4% higher to $502.08.</li>



<li>The&nbsp;iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.3% to $229.50.</li>



<li>The&nbsp;Technology Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, rising 0.5%. The&nbsp;Energy Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 0.7%.</li>
</ul>



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



<ul>
<li>Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) surged 22% after appointing BDO US as its auditor and submitting a compliance plan to Nasdaq, signaling a proactive effort to address delisting concerns. The news bolstered investor confidence in the company&#8217;s governance and market stability.</li>



<li>United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) climbed 3.5%, reaching its highest level since December 2019, following a bullish call from TD Owen, which raised the stock's price target from $100 to $110.</li>



<li>Incyte Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INCY#NYSE">INCY</a>) plummeted over 14% after announcing that data from its Phase 2 clinical study failed to support further development, disappointing investors hoping for progress in its pipeline.</li>



<li>Valvoline Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VVV#NYSE">VVV</a>) dropped 8% in reaction to a weaker-than-expected earnings report, as the market digested concerns over the company&#8217;s growth trajectory and profitability.</li>



<li>Vertive Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>) rallied 11.7% in reaction to price target raises from investment banks such as Deustsce Bank and Oppenheimer.</li>
</ul>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42069891/sp-500-to-reach-6500-by-end-of-2025-analysts-predict-could-it-spark-ma-revival">S&amp;P 500 To Reach 6,500 By End Of 2025, Analysts Predict: Could It Spark M&amp;A Revival?</a></li>
</ul>



Image created using artificial intelligence via Midjourney.

Equities

Macro Economic Events

Bonds

Specialty ETFs

Commodities

Economics

ETFs

INCY

SMCI

Stocks Move Higher, Walmart Hits Record High, Natural Gas Reaches 5-Month Peak: What's Driving Markets Tuesday?

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) advocate Anthony Pompliano calls for the new Donald Trump administration to buy $250 billion in the leading cryptocurrency on day one of the new regime, as reports grow for a <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41938972/donald-trump-to-establish-a-national-bitcoin-reserve-a-30-chance-polymarket-traders-speculate">Bitcoin Strategic Reserve.</a>



What Happened: Pompliano was asked how Trump can make a difference for the cryptocurrency sector during a discussion at the 2024<a href="https://www.benzinga.com/digital-assets"> Benzinga Future of Digital Assets </a>event on Nov. 19.



The investor and entrepreneur didn't hold back with commentary on how positive the Trump administration could be for the cryptocurrency and with his suggestion to make an initial mark felt worldwide.



"It's not about individual policy, it's about the signal that we're changing regimes. The new regime is pro-Bitcoin," Pompliano said.



Pompliano said he has an upcoming piece coming out that will call on the U.S. to buy $250 billion in Bitcoin on day one of the new administration. The investor said in order to make the purchase, the country could print the money.



With the purchase, and around 200,000 Bitcoin already owned, the U.S. would become the largest holder in the world.



Pompliano said the $250 billion amount may sound like a lot, but it's a "rounding error" compared to the hundreds of billions of debt added to the national debt.



"Protect our future, it's such a no brainer."



Advocating against the Bitcoin strategic reserve could represent being against the growth of the U.S., Pompliano added.



Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41403206/bitcoin-is-the-simplest-story-in-finance-will-climb-regardless-of-election-winner-says-ant">Bitcoin Is &#8216;The Simplest Story In Finance,&#8217; Will Climb Regardless Of Election Winner, Says Anthony Pompliano</a>



Why It's Important: The comments from Pompliano come as Bitcoin has soared in value since Donald Trump won the 2024 presidential election, hitting multiple new all-time highs in November 2024.



Pompliano said the move by the U.S. would show the country's support for Bitcoin and could elevate the value and make the country's investment pay off.



BTC Price Action: Bitcoin trades at $92,517.23 at the time of writing, up 1% over the last 24 hours and up 6% over the last week. Bitcoin hit an all-time high of $93,434.26 on Nov. 13.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41916359/bitcoin-is-the-decentralized-king-says-anthony-pompliano-whose-100000-price-prediction-is-close-to-coming-true">Bitcoin Is The &#8216;Decentralized King,&#8217; Says Anthony Pompliano, Whose $100,000 Price Prediction Is Close To Coming True</a></li>
</ul>



Photos: Shutterstock

Government

Politics

EXCLUSIVE: Anthony Pompliano Calls For US To Buy $250B Bitcoin On Day 1 Of Trump Administration: 'Protect Our Future, It's Such A No Brainer'

Wall Street analysts are painting optimistic pictures for the U.S. stock market heading into 2025, with the S&amp;P 500 index — as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) — expected to climb to 6,500 points by year's end, according to both Goldman <a href="https://www.benzinga.com/topic/expert-ideas">Sachs and Morgan Stanley. </a>



That projection represents an 11% gain from current levels and places the return in the 46th percentile of 12-month S&amp;P 500 returns since 1980. 



Yet, while both firms share optimism about the market's trajectory, their outlooks show notable differences in the rationale behind the call.



<h1 class="wp-block-heading">Goldman Sachs: Growth Hinges On Resilient Economy</h1>



In a note shared to clients on Monday, Goldman Sachs equity analyst David J. Kostin said the bullish forecast hinges on continued economic expansion and a robust corporate earnings outlook. 



The analyst expects &#8220;continued U.S. economic expansion, earnings growth of 11% in 2025 and 7% in 2026."



Economic and fiscal policies are likely to have a significant impact on corporate performance. Kostin's team assumes that the Trump administration will implement targeted tariffs on imported automobiles and select imports from China, alongside a 15% corporate tax rate for domestic manufacturers.



<h1 class="wp-block-heading">Morgan Stanley: Multiple Scenarios, But 6,500 Base Case</h1>



Michael Wilson, chief investment officer and strategist at Morgan Stanley, echoed Goldman Sachs' optimism. 



"We raise our base case 12-month price target to 6,500," Wilson said in his latest research note, adding that a post-election rise in "corporate animal spirits" could catalyze balanced earnings growth across sectors.



In the base case, Morgan Stanley expects the S&amp;P 500's valuation multiple to hold steady despite its historically elevated level. "It's rare to see significant multiple compression in periods of above-average earnings growth and accommodative monetary policy," Wilson explained.



Wilson also laid out a wider range of scenarios for 2025, reflecting potential economic and policy volatility. 



His bull case sees the S&amp;P 500 reaching 7,400, while his bear case forecasts a steep drop to 4,600. 



&#8220;Our prior bull case narrative has been playing out as macro data has improved alongside accommodative policy,&#8221; Wilson wrote.



<h1 class="wp-block-heading">Election Impacts: Lighter Regulation and Fiscal Shifts</h1>



Both analysts noted the recent U.S. presidential election could have profound market implications.



Kostin's team anticipates regulatory rollbacks and a business-friendly tax environment, while Wilson highlighted the potential creation of a new Department of Government Efficiency (DOGE) as a key wildcard.



The proposed DOGE could shift fiscal policy by consolidating deficits and cutting federal spending. "In short, we are potentially going through another sea change in policy outcomes that could have both short- and longer-term implications for markets," Wilson wrote.



<h1 class="wp-block-heading">Magnificent 7: Still Leading, But Margins Are Narrowing</h1>



The "Magnificent 7" tech giants — Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) — have dominated the market narrative for the past two years, delivering a jaw-dropping 148% return since the end of 2022. For context, the other 493 stocks in the S&amp;P 500 gained just 35% in the same period.



"The seven companies in aggregate accounted for more than half of the S&amp;P 500's 57% rise over the past two years," Kostin said. However, their dominance has begun to wane.



In 2023, the Magnificent 7 outperformed the rest of the index by 63 percentage points. In 2024, that gap has narrowed to just 22 points, with the Magnificent 7 rising 41% year-to-date versus an 18% gain for the remaining stocks.



For 2025, Kostin predicts that the Magnificent 7 will continue to outperform, but the margin will shrink even further. 



"We expect in 2025 the Magnificent 7 stocks collectively will outperform the S&amp;P 493, but by roughly seven percentage points, the slimmest margin in seven years," he said.



<h1 class="wp-block-heading">Beyond Big Tech: Mid-Caps And Cyclical Opportunities</h1>



Both Kostin and Wilson are urging investors to look beyond the Magnificent 7 and explore mid-cap and cyclical opportunities. 



"We recommend investors benchmark the Magnificent 7 and seek opportunities in mid-cap equities," Kostin said, pointing to the S&amp;P 400 MidCap Index, which trades at a lower 16x forward P/E multiple and has historically outperformed large- and small-cap stocks.



Sector-wise Kostin is also particularly bullish on Materials, Software &amp; Services, and Utilities.



Wilson also highlighted cyclicals, noting that lighter regulation and renewed optimism post-election could drive growth in this group. "In our view, the outcome of the U.S. election raises the likelihood of a lighter regulatory environment and a potential rebound in animal spirits, which should further benefit this group," Wilson said.



<h1 class="wp-block-heading">M&amp;A Surge Ahead?</h1>



Both analysts also highlighted the potential for a revival in merger and acquisition activity in 2025. 



"CEO confidence is a key variable affecting executives' inclination to engage in M&amp;A activity," Kosting said. Federal regulators' antitrust policies over the past four years have created headwinds for dealmaking, but an expected reduction in regulatory uncertainty could reignite activity.



&#8220;We continue to expect a major, multiyear rebound in activity, aided by record-high stock market levels, an economic soft landing, lower interest rates, open capital markets, greater corporate confidence, and growing pressure on private asset managers to both deploy funds and harvest investments,&#8221; Wilson said. 



Read Now:



<ul>
<li><a href="https://www.benzinga.com/markets/24/11/42051894/why-nvidia-earnings-may-trigger-massive-s-p-500-volatility">Why Nvidia Earnings May Trigger Massive S&amp;P 500 Volatility</a></li>
</ul>



Photo: Shutterstock

Analyst Color

Large Cap

Mid Cap

Broad U.S. Equity ETFs

Price Target

Econ #s

AAPL

AMZN

GOOG

GOOGL

MSFT

NVDA

TSLA

S&P 500 To Reach 6,500 By End Of 2025, Analysts Predict: Could It Spark M&A Revival?

Real estate mogul Grant Cardone spoke at Tuesday&#8217;s <a href="https://www.benzinga.com/digital-assets">Benzinga Future of Digital Assets </a>conference about his bullish outlook on cryptocurrencies, his expectations for interest rate cuts, and the incoming Trump administration.



Cardone, who was interviewed by IBC Group CEO Mario Nafwal, expressed strong interest in crypto, drawing parallels between real estate and digital asset investors. 



&#8220;Real estate and crypto people have a lot in common, they both value scarcity,&#8221; he noted, while highlighting real estate&#8217;s advantage of generating cash flow.



While he&#8217;s a <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41601677/grant-cardone-says-real-estate-tokenization-will-democratize-access-but-warns-sec-is-dragg">proponent of real estate tokenization</a>, Cardone was skeptical about delivering on the technology&#8217;s potential.



He instead proposed an innovative investment strategy, suggesting that investors dollar-cost average their real estate-generated cash flow into Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).



This approach could appeal to conservative investors looking to gain exposure to cryptocurrencies without directly engaging in the volatile market.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42052797/trump-and-coinbase-ceo-brian-armstrong-reportedly-in-talks-over-cabinet-appointments">Trump And Coinbase CEO Brian Armstrong Reportedly In Talks Over Cabinet Appointments</a>



The entrepreneur positioned himself as a &#8220;<a href="https://www.benzinga.com/personal-finance/24/10/41189672/cardone-lists-five-ways-to-wealth-and-says-if-you-can-be-born-into-it-i-highly-recommend-it">coward investor</a>,&#8221; favoring assets with steady income streams over stocks or cash. 



&#8220;I put my money in &#8216;real assets,'&#8221; Cardone said, emphasizing his preference for tangible investments that <a href="https://www.benzinga.com/personal-finance/24/10/41198463/grant-cardone-says-you-need-10-million-to-be-considered-rich-1-million-in-retirement-wont-cut-it">produce regular returns.</a>



Cardone forecasted a significant drop in interest rates, saying, &#8220;I believe we see 3% rates in the next 24 months.&#8221;



He suggested President-elect Donald Trump could pressure the Federal Reserve to lower rates, a move that could have far-reaching implications for both real estate and crypto markets.



Cardone <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41579915/grant-cardone-donald-trump-can-solve-massive-problem-in-the-housing-market-advocates-finan">expressed optimism</a> about the incoming Trump administration&#8217;s priorities, predicting the president-elect will &#8220;be interested&#8221; in reducing taxes and deregulation, lowering illegal immigration, and making &#8220;sure you don&#8217;t get shadow-banned by the media.&#8221;



He was also upbeat about <a href="https://www.benzinga.com/general/social-media/24/11/42048594/trump-digs-deeper-into-cryptocurrency-bakkt-shares-soar-on-reported-interest-from-president-elects-media-company">Trump&#8217;s influence on the cryptocurrency industry,</a> saying the transition team is &#8220;very serious about crypto.&#8221; 



Sharing a personal anecdote, Cardone revealed he first acquired Bitcoin when it was trading at $500, accepting it as payment for a $50,000 speaking engagement.



He&#8217;s since added to his position when Bitcoin traded at $30,000 and plans to hold long-term, viewing it as a generational wealth transfer vehicle.



Cardone expressed no interest in investing in gold or stocks, saying he does not want to &#8220;trade one piece of paper for another piece of paper.&#8221;



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42046709/raoul-pal-bullish-on-solana-and-memes-dogecoin-does-nothing-does-nothing-and-then-explodes">Raoul Pal Bullish On Solana And Memes: &#8216;Dogecoin Does Nothing, Does Nothing And Then Explodes&#8217;</a></li>
</ul>



Image created using photo from Shutterstock and Midjourney

Grant Cardone Calls Himself A 'Coward Investor,' Puts His Money In 'Real Assets'

European markets sank on Tuesday and U.S. stock futures followed suit, weighed down by escalating geopolitical tensions after Russian President Vladimir Putin revised the country&#8217;s nuclear doctrine to broaden the conditions <a href="https://www.benzinga.com/topic/vladimir-putin">for deploying atomic weapons. </a>



Putin's move to ease the threshold for nuclear strikes came just a day after the White House authorized Ukraine to deploy American-made long-range ATACMS missiles deep into Russian territory. 



The Euro STOXX 50, as tracked by the SPDR DJ Euro STOXX 50 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FEZ#NYSE">FEZ</a>), and STOXX 600 indices dropped 1.2% and 0.8%, respectively, both tracking toward their lowest closing levels since mid-August.



<h3 class="wp-block-heading">Putin Expands Nuclear Doctrine Amid US-Backed Ukrainian Strike</h3>



On Tuesday, Ukraine reportedly carried out its first ATACMS strike on a military facility near Karachev in Russia&#8217;s Bryansk region, about 70 miles from Ukraine, according to reports by <a href="https://newsukraine.rbc.ua/news/us-officially-allows-ukraine-to-to-strike-1732012491.html">RBC Ukraine</a>.



RBC Ukraine cited a Defense Forces source confirming a successful strike, marking the first time these long-range missiles were used in such a capacity. Russia acknowledged the attack.



&#8220;Indeed, for the first time, we used ATACMS to strike Russian territory. The strike was carried out against a facility in the Bryansk region, and it was successfully hit,&#8221; the source reported.



On Monday, the previous day, U.S. Under Secretary of State for Western Hemisphere Affairs Brian A. Nichols officially confirmed that the White House had given Ukraine approval to use long-range weapons to target Russian territory.



<h3 class="wp-block-heading">European Markets React: Euro, Bank Equities Drop</h3>



The geopolitical developments triggered a sharp selloff across European equities. In Poland, the WIG20 stock index plunged 2.5%, reflecting the country's proximity to the conflict and heightened exposure to regional risks. 



European banks also bore the brunt of the downturn, with the banking index slipping 2.2%. Among the hardest-hit financial institutions were CaixaBank SA (OTCPK: CAIXY), which sank 5.1%, FinecoBank Spa (OTCPK: FCBBF), down 4.2%, and Unicredito Spa (OTCPK: UNCFF), which dropped 3.3%.



The euro also came under pressure, falling 0.3% to hover at $1.0550 against the U.S. dollar, as traders sought safety in the greenback amid mounting geopolitical risks.



<h3 class="wp-block-heading">Flight To Safety: Bonds, Gold Shine</h3>



Heightened geopolitical risks spurred demand for safe-haven assets. Yields on long-dated U.S. Treasuries fell by 4-5 basis points, lifting bond prices. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) could see strong gains following this move.



Gold surged 1%, building on a 1.9% rally from the previous session, as investors sought shelter from rising uncertainties.



<h3 class="wp-block-heading">US Premarket Action</h3>



U.S. equity futures mirrored the cautious sentiment overseas, with Dow Jones Industrial Average futures down 0.4%, S&amp;P 500 futures declining 0.3%, and Nasdaq 100 futures slipping 0.1%. 



Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) surged over 3% in premarket trading after reporting stronger-than-expected quarterly earnings. 



Among defense stocks, Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) gained 0.9%, while Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) fell by the same margin.



Read Next:



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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42048963/why-nvidia-earnings-may-trigger-massive-sp-500-volatility">Why Nvidia Earnings May Trigger Massive S&amp;P 500 Volatility</a></li>
</ul>



Photo: Shutterstock

Eurozone

Global

CAIXY

FCBBF

UNCFF

Putin Revises Nuclear Doctrine For Broader Strikes After US-Backed Ukrainian Attack: Markets Drop, Bonds Gain

Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) will report its third-quarter earnings on Wednesday. Wall Street expects 75 cents in EPS and $33.12 billion in revenues as the company reports<a href="https://www.benzinga.com/calendars/earnings?tickers=NVDA" target="_blank" rel="noreferrer noopener"> after market hours</a>.



The Santa Clara, California-based company&#8217;s stock is up 178.02% over the past year and 190.95%% year-to-date. 



The stock slipped as much as 3.4% on Monday before paring losses, as reports of overheating in its new Blackwell AI servers rattled investors.



<h2 class="wp-block-heading">Blackwell Scrutiny Meets Early Adoption In Nvidia&#8217;s AI Push</h2>



The Information <a href="https://www.theinformation.com/articles/nvidia-customers-worry-about-snag-with-new-ai-chip-servers?rc=lmgkxg">highlighted</a> recurring issues with Blackwell, including design flaws reported in August that delayed production to the December quarter. While Nvidia downplayed concerns, calling engineering iterations &#8220;normal,&#8221; the stakes are high. 



CEO Jensen Huang expects Blackwell chips to drive billions in fourth-quarter sales, with major buyers like Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and xAI already in line.



Dell Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) <a href="https://x.com/MichaelDell/status/1858306164775379268">confirmed</a> shipments of Blackwell servers in its PowerEdge systems, signaling early adoption despite the concerns.



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



Read Also: <a href="https://www.benzinga.com/news/global/24/11/42056728/nvidia-modestly-at-risk-amid-ai-chip-concerns-analyst-notes-momentum-money-swirling-around-sells-first-asks-questions-later">Nvidia &#8216;Modestly At Risk&#8217; Amid AI Chip Concerns, Analyst Notes: Momentum Money Swirling Around &#8216;Sells First, Asks Questions Later&#8217;</a>



<h2 class="wp-block-heading">Nvidia Stock Sees Buying Pressure Ahead Of Q3 Earnings&nbsp;</h2>



As it head towards reporting its third-quarter earnings, Nvidia stock is under a haze of mixed technical indicators. The charts reflect a moderately bearish trend tempered by slight buying pressure.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent111924&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="631" height="493" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/19070432/Screenshot-2024-11-19-at-5.34.12-PM.png" alt="" class="wp-image-654815" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/19070432/Screenshot-2024-11-19-at-5.34.12-PM.png 631w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/19070432/Screenshot-2024-11-19-at-5.34.12-PM-300x234.png 300w" sizes="(max-width: 631px) 100vw, 631px" /></a></figure>



<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent111924&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>



At $142.07, Nvidia stock presents conflicting signals across key moving averages and momentum indicators.



The eight-day SMA (simple moving average) of $144.80 exceeds the current price, signaling bearish momentum in the short term. Though the stock has inched above the 20-day SMA of $141.98 saving some bullish momentum for the near-term. both. 



The longer-term trends continue to harp a bullish tune for this AI juggernaut. The 50-day SMA at $132.32 and the 200-day SMA at $109.62 both trail the current price, providing bullish confirmation for NVDA bulls eyeing a broader horizon.



Momentum indicators like the MACD, which stands at a robust 3.03, further bolster the bullish outlook. Yet caution lingers as the Relative Strength Index (RSI) sits at 53.53, heading towards the overbought threshold.



While NVIDIA's share price may seem pressured in the short term, its longer-term technicals suggest resilience ahead of its earnings. 



The question remains: Will fundamentals align with these signals, or will earnings introduce new volatility? Investors may find this a pivotal moment to reassess positions.



<h2 class="wp-block-heading">Nvidia Analysts See 28% Upside</h2>



Ratings &amp; Consensus Estimates:<a href="https://www.benzinga.com/quote/NVDA/analyst-ratings" target="_blank" rel="noreferrer noopener"> The consensus analyst rating</a> on Nvidia stock stands at a Buy currently with a price target of $162.97. Recent analyst ratings from Stifel, Truist Securities, and Rosenblatt imply a 28.25% upside for Nvidia stock, with an average price target of $182.33.



Price Action: NVDA stock closed the trading day Monday at $140.15, don 1.29%.



Read Next: 



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<li><a href="https://www.benzinga.com/tech/24/11/42008585/why-super-micros-survival-may-hinge-on-nvidia-earnings-nasdaq-deadline">Why Super Micro&#8217;s Future May Hinge On Nvidia Earnings, Nasdaq Deadline</a></li>
</ul>



Image: Unsplash

Technicals

Previews

Tech

Trading Ideas

DELL

Nvidia's Blackwell Chips Overheat: Will Q3 Earnings Cool Investor Concerns?

Options trading for spot Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) exchange-traded funds are all set to launch on Wall Street on Tuesday, marking a new era of the leading cryptocurrency's integration into traditional finance.



What happened: Nasdaq head of ETP listings Alison Hennessy <a href="https://www.bloomberg.com/news/videos/2024-11-18/intend-to-trade-bitcoin-etf-options-as-early-as-tomorrow-nasdaq-s-hennessy?srnd=all">told </a>Bloomberg they plan to list options for iShares Bitcoin Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) "as early as" Tuesday.



The approved options would be listed on the Nasdaq under the ticker symbol "IBIT," paving the way for institutional investors and traders to hedge their exposure to Bitcoin more efficiently.



But why is it a big deal?



In a video posted on X Monday and reshared by Bloomberg's senior ETF analyst Eric Balchunas, analyst and head of growth at Bitcoin custody firm Theya, Joe Consorti, said that the launch will open the "floodgates" for Bitcoin's next evolution in financial markets.



<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">Good explanation on why options being listed on bitcoin ETFs (which begins tmrw) is such a BFD. <a href="https://t.co/Q3RmqxRNjy">https://t.co/Q3RmqxRNjy</a>&mdash; Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1858711503672590601?ref_src=twsrc%5Etfw">November 19, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Consorti stated the importance of options trading, especially for institutional investors. He explained that in sectors like equities and commodities, derivatives are 10 to 20 times the size of the underlying market cap.



On the other hand, Bitcoin's derivatives market was much lower, with its total Open interest, or OI, being a <a href="https://www.coinglass.com/BitcoinOpenInterest">fraction </a>of its spot market capitalization.



See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42055570/bitfinex-bitcoin-laundering-case-lands-crocodile-of-wall-street-in-jail">Bitfinex Bitcoin Laundering Case Lands &#8216;Crocodile Of Wall Street&#8217; In Jail</a>



"So Bitcoins are vastly underdeveloped, and this limits the market majority because there is a huge institutional demand for these vehicles from a hedging perspective and an allocation perspective," Consorti said.



With the debut of options trading, the analyst expected Bitcoin's derivatives market to balloon into something "much, much larger."



Why It Matters: Retail investors, who constitute nearly 44% of the listed equities options market, had trouble accessing Bitcoin ETF options due to the OTC (over-the-counter) nature of trading on platforms like Deribit.



However, all this changes with IBIT options, as investors previously excluded would be able to join the Bitcoin derivatives market, giving a boost to the investor base and demand.



"A robust derivatives ecosystem reduces volatility, improves price discovery, and allows institutional capital to engage with Bitcoin at scale," Consorti emphasized.&nbsp;



The IBIT spot ETF was the biggest Bitcoin-related fund, according to SoSo Value, with assets worth more than $43 billion as of this writing.



Price Action: At the time of writing, Bitcoin was trading at $91,727.36, up 0.08% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.



What's Next:&nbsp;The launch coincides with Benzinga&#8217;s&nbsp;<a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a>&nbsp;event on Nov. 19, where the focus will be on Bitcoin&#8217;s role in institutional portfolios, regulatory clarity, and the evolving crypto market landscape.



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42052184/will-shiba-inu-coin-reach-1-cent-by-2025-47-of-benzinga-readers-say">Will Shiba Inu Coin Reach 1 Cent By 2025? 47% Of Benzinga Readers Say…</a></li>
</ul>



Photo courtesy: Shutterstock

Markets

IBIT

BlackRock's Spot Bitcoin ETF To Open For Options Trading: Here's Why It Could Be A Big Deal For Bitcoin

Walmart Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) shares are trading higher on Tuesday after the company announced&nbsp;third-quarter results&nbsp;and <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/b42058916/walmart-reports-strong-revenue-growth-of-5-5-with-operating-income-growing-faster-at-8-2" rel="noreferrer noopener">raised its fiscal-2025&nbsp;guidance</a>.



The retailer reported adjusted EPS&nbsp;of&nbsp;58 cents,&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">beating the consensus of&nbsp;53 cents</a>.



Sales were&nbsp;$169.59 billion, up&nbsp;<a target="_blank" href="https://corporate.walmart.com/content/dam/corporate/documents/newsroom/2024/11/19/walmart-releases-q3-fy25-earnings/q3-fy25-earnings-release.pdf" rel="noreferrer noopener">5.5</a>% year over year or 6.2% (at constant currency), beating the consensus of&nbsp;$167.72 billion.



The gross margin rate was up 21 bps, aided by improvement in the Walmart U.S.



Operating income was up&nbsp;$0.5 billion, or&nbsp;8.2%, and up 9.8%&nbsp;year over year&nbsp;(at constant currency) on higher gross margins, growth in membership income, and reduced eCommerce losses.



Global eCommerce sales rose&nbsp;27%, driven by store-fulfilled pickup and delivery as well as marketplace growth. Global advertising business grew&nbsp;28%, including&nbsp;26% for Walmart Connect in the U.S.



Walmart U.S same-store sales climbed by&nbsp;5.3%&nbsp;year over year, excluding fuel, aided by strong broad-based growth in merchandise categories and physical and digital channels.



Read: <a target="_blank" href="https://www.benzinga.com/24/11/42047989/walmart-q3-earnings-preview-will-eps-beat-streak-continue-analysts-says-retailer-should-remain-a-core-holding" rel="noreferrer noopener">Will Walmart&#8217;s Streak Of Earnings Beats Continue Tuesday? Analysts Say Retailer A &#8216;Core Holding&#8217;</a>



At Sam&#8217;s Club, same-store sales rose&nbsp;7.0%&nbsp;year over year, excluding fuel, led by food and health and wellness categories, along with increased transactions and unit volumes.



Doug McMillon, President and CEO, said, &#8220;In the U.S., in-store volumes grew, pickup from store grew faster, and delivery from store grew even faster than that. Our teams are executing and delighting our customers and members with the value and convenience they expect from Walmart.&#8221;



Walmart generated an operating cash flow of&nbsp;$22.9 billion and free cash flow of&nbsp;$6.2 billion&nbsp;in nine months ended October 31, 2024. It ended the quarter with cash and equivalents of&nbsp;$10.0 billion.



Guidance: For FY25, the big box retailer raised its adjusted EPS&nbsp;outlook&nbsp;to&nbsp;$2.42 &#8211; $2.47 (from&nbsp;$2.35 &#8211; $2.43), vs.<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener"> the consensus of&nbsp;$2.45</a>.



Walmart boosted FY25 net sales (at constant currency) growth&nbsp;guidance&nbsp;to&nbsp;4.8% &#8211; 5.1% from <a target="_blank" href="https://www.benzinga.com//node/40391777" rel="noreferrer noopener">3.75% &#8211; 4.75%&nbsp;earlier</a>.



Investors can gain exposure to the stock via Vanguard Consumer Staples ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VDC#NYSE">VDC</a>) and&nbsp;Fidelity MSCI COnsumer Staples Index ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSTA#NYSE">FSTA</a>).



Price Action: WMT shares are up 3.59% at $87.10 premarket at the last check Tuesday.



Image by Sundry Photography on Shutterstock



Read Next:



<ul>
<li><a href="https://www.benzinga.com/24/11/42041663/walmarts-black-friday-cyber-monday-huge-deals-on-electronics-toys-and-more" target="_blank" rel="noreferrer noopener">Walmart Gears Up For Black Friday, Cyber Monday Specials: Major Discounts On Apple MacBooks, Sony TVs</a></li>
</ul>

Earnings

Guidance

FSTA

Walmart Q3 Earnings: Revenue Beat, eCommerce Growth Shines, Issues Bullish Outlook For FY25

Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) faces heightened scrutiny <a href="https://www.benzinga.com/general/market-summary/24/11/42055795/nvidia-shares-to-climb-over-140-levels-says-technical-analyst-ahead-of-q3-results-will-have-to-beat-street-expectations-for-the-trend-to-continue">ahead of its earnings</a> as technical challenges with its latest artificial intelligence chips and broader market pressures raise concerns, according to Mizuho analyst Jordan Klein.



What Happened: Klein, a longtime Nvidia bull, warned investors that the semiconductor giant&#8217;s shares are &#8220;modestly at risk&#8221; following reports of overheating issues in its new Blackwell systems, <a href="https://www.investing.com/news/stock-market-news/biggest-nvidia-bull-on-wall-street-warns-shares-are-modestly-at-risk-3728239?ref=biztoc.com">reported</a> Investing.com. 



The timing is particularly sensitive given Nvidia&#8217;s recent ascent to become the world&#8217;s most valuable company, with a market capitalization of $3.482 trillion.



&#8220;There is just so much quant, passive, and fast momentum money swirling around in markets these days and I assume that style sells first, asks questions later,&#8221; Klein noted in his investor communication, highlighting the volatile nature of current market dynamics.



See Also: <a href="https://www.benzinga.com/24/11/42054405/amazon-and-spacexs-efforts-to-block-nlrb-cases-in-jeopardy-as-appeals-court-raises-key-legal-concerns">Amazon And SpaceX&#8217;s Efforts To Block NLRB Cases In Jeopardy As Appeals Court Raises Key Legal Concerns</a>



Why It Matters: The Blackwell chips, unveiled in March and promising 30 times faster performance than previous generations, have <a href="https://www.benzinga.com/24/11/42028342/blackwell-backfires-nvidias-ai-chips-struggle-with-server-overheating-impacting-meta-microsoft-and-musks-xai-data-centers">reportedly encountered thermal issues</a> when installed in high-density server racks.



Major customers potentially affected include Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</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/GOOGL#NASDAQ">GOOGL</a>) subsidiary Google.



Nvidia has responded to the situation, with a spokesperson telling Reuters that &#8220;engineering iterations are normal and expected&#8221; while working with cloud service providers.



Despite these immediate challenges, Klein maintains his long-term optimistic outlook for Nvidia but cautions about near-term volatility, particularly from retail and momentum-driven investors who &#8220;purely react to headlines and initial stock moves.&#8221;



However, CNBC&#8217;s Jim Cramer offered a contrasting view, suggesting the market&#8217;s reaction might be overdone. &#8220;Be skeptical about the negatives with Nvidia,&#8221; Cramer posted on X. He later <a href="https://www.cnbc.com/2024/11/18/cramer-weighs-nvidia-after-blackwell-ai-chip-overheating-report.html">expanded</a> on CNBC, saying, &#8220;I&#8217;m more inclined to think you&#8217;re getting a buying opportunity in Nvidia thanks to The Information publishing a story that may simply not be that.&#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">Be skeptical about the negatives with Nvidia&#8230;&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1858515094663012549?ref_src=twsrc%5Etfw">November 18, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/news/global/24/11/42052735/boeing-to-lay-off-over-2500-workers-in-the-us-amid-global-workforce-reduction">Boeing To Lay Off Over 2,500 Workers In The US Amid Global Workforce Reduction</a></li>
</ul>



Image Via Unsplash



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

AMAT

Nvidia 'Modestly At Risk' Amid AI Chip Concerns, Analyst Notes: Momentum Money Swirling Around 'Sells First, Asks Questions Later'

U.S. stocks could open on a negative note on Tuesday after the <a href="https://www.benzinga.com/news/econ-s/24/11/42017118/stocks-tumble-as-traders-rethink-feds-action-vix-spikes-17-nasdaq-erases-back-post-trump-gains-whats-driving-markets-friday">averages maintained a cautious stance last week</a>. Futures of all three major indices were slightly down on Tuesday, pointing to a cautious sentiment on Wall Street.



Economic data and Federal Reserve chair Jerome Powell's comments about the future of rate cuts dampened the sentiment. Powell said the Federal Open Market Committee (FOMC) is not in a hurry after economic data showed strength.



Geopolitical tensions are weighing on investor sentiment, as Russian President Vladimir Putin expanded the country's nuclear doctrine, according to reports <a href="https://tass.com/politics/1874437">by</a> the TASS news agency.



<figure class="wp-block-table"><table><tbody><tr><td>Futures</td><td>Performance (+/-)</td></tr><tr><td>Nasdaq 100</td><td>-0.36%</td></tr><tr><td>S&amp;P 500</td><td>-0.47%</td></tr><tr><td>Dow Jones</td><td>-0.62%</td></tr><tr><td>R2K</td><td>-1.29%</td></tr></tbody></table></figure>



In premarket trading on Tuesday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.35% to $586.11 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) declined 0.29% to $498.58, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.



Cues From Last Session:



U.S. stocks closed on a mixed note on Monday, with the Dow Jones closing in the red while the Nasdaq and S&amp;P 500 edged up.



Crude oil prices remained under the $70 mark, edging lower after rebounding due to disruptions in Norway.



Treasury yields eased marginally amid a broader risk-off sentiment.



On the economic data front, the NAHB/Wells Fargo Housing Market Index climbed to 46 in November from 43 in October, recording the highest reading in seven months.



Most sectors on the S&amp;P 500 closed on a positive note, with energy, communication services, and consumer discretionary stocks recording the biggest gains on Monday.



However, industrial stocks bucked the overall market trend, closing the session lower.



<figure class="wp-block-table"><table><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>0.60%</td><td>18,791.81</td></tr><tr><td>S&amp;P 500</td><td>0.39%</td><td>5,893.62</td></tr><tr><td>Dow Jones</td><td>-0.13%</td><td>43,389.60</td></tr><tr><td>Russell 2000</td><td>0.11%</td><td>2,306.34</td></tr></tbody></table></figure>



Insights From Analysts:



Tom Lee, head of research at FundStrat Global Advisors, noted <a href="https://www.cnbc.com/video/2024/11/18/watch-cnbcs-full-interview-with-fundstrat-global-advisors-tom-lee.html">in</a> an interview with CNBC that the "Trump trade" is still intact despite it losing some steam over the past week.



He underscored that as uncertainty reduces around President-elect Donald Trump's announcement of Treasury Secretary, it will be a "clearing event" for the markets.



He also believes that although Fed chair Powell said there is no need to rush with rate cuts, the expectations for the number of cuts over the next year remain the same. Essentially, it's only a matter of timing, according to Lee.



With Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) set to announce its results this week, Lee thinks that it will be another "clearing event" for the markets.



"Markets get very hesitant in front of Nvidia's earnings. Once that is behind us, we'll see that the demand is strong and I think markets breathe a sigh of relief."



WisdomTree and Wharton School economist&nbsp;Jeremy Siegel reiterated his bull thesis but noted that higher rates could lead to some volatility in the near term.



"Equities still offer superior returns over the longer term compared to bonds," he said, as investors turn their eye towards the Federal Open Market Committee's (FOMC) next meeting.



Expectations of a further 25 basis point rate cut in December have fallen to just 65% now, down from 72% last week, according <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">to</a> CME Group's FedWatch tool.



"With long-term rates climbing, the market's trajectory will depend heavily on not only economic data but a clarification Trump's policies on tariffs and deportations," Siegel said.



On the whole, the Wharton economist underscored that "companies with strong balance sheets and pricing power" are best positioned to weather this higher-rate environment.



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



Upcoming Economic Data



Tuesday's economic calendar is fairly light.



<ul>
<li>Data on new home construction and building permits will be released at 8:30 a.m. ET.</li>



<li>Chicago Fed President Austan Goolsbee&nbsp;will speak at 12:25 p.m. ET.</li>
</ul>



Stocks In Focus:



<ul>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares continued to rally, gaining 5.6% on Monday amid reports of Trump's transition team <a href="https://www.benzinga.com/markets/equities/24/11/42028797/tesla-soars-over-5-in-overnight-trading-as-trump-administration-reportedly-seeks-to-ease-fsd-norms">looking to ease self-driving rules</a>.</li>



<li>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>) subsidiary Google is staring at the prospect of <a href="https://www.benzinga.com/news/legal/24/11/42053249/google-could-lose-chrome-browser-in-dojs-latest-antitrust-move">divesting the Chrome web browser</a> as part of the Department of Justice's (DOJ) latest antitrust move. The company's stock fell in <a href="https://www.benzinga.com/markets/24/11/42056544/googles-parent-alphabet-shares-dip-during-tuesday-pre-market-whats-going-on">premarket trading on Tuesday</a>.</li>



<li>Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) shares <a href="https://www.benzinga.com/markets/equities/24/11/42057634/super-micro-computer-is-up-by-30-on-tuesday-pre-market-whats-going-on">surged over 30% in premarket trading on Tuesday</a> after the company submitted a compliance plan to continue trading on the Nasdaq.</li>



<li>Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) shares were down 4.7% in premarket trading after <a href="https://www.benzinga.com/general/social-media/24/11/42048594/trump-digs-deeper-into-cryptocurrency-bakkt-shares-soar-on-reported-interest-from-president-elects-media-company">reports suggested</a> that it is looking to acquire cryptocurrency company Bakkt Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKKT#NYSE">BKKT</a>).</li>



<li>Investors are awaiting earnings results from Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>), Lowe&#8217;s Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>), and Medtronic Plc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>) today.</li>
</ul>



Commodities, Bonds And Global Equity Markets:



Crude oil futures surged in the early New York session, falling by 0.7% to hover around $68.69 per barrel.



The 10-year Treasury note yield eased marginally to 4.365%.



Major Asian markets ended in the green on Tuesday, while European stocks declined in early trading.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42056899/jim-cramer-thinks-trumps-plans-for-robotaxis-are-fanciful-but-he-is-still-bullish-on-tesla-stock-the-musk-premium-will-work-its-magic-in-other-ways">Jim Cramer Thinks Trump&#8217;s Plans For Robotaxis Are &#8216;Fanciful,&#8217; But He Is Still Bullish On Tesla Stock: &#8216;The Musk Premium Will Work Its Magic In Other Ways&#8217;</a></li>
</ul>



Photo courtesy: Wikimedia

Futures

Federal Reserve

Pre-Market Outlook

BKKT

US Stocks Likely To Open In Red Amid Mounting Geopolitical Tensions: Wharton Economist Says Market Trajectory Will 'Heavily Depend' On Trump's Tariff Plans

Lowe&#8217;s Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) shares are trading lower in the <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">premarket session on Tuesday</a>.



The company reported third-quarter adjusted earnings per share of $2.89 <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n42057532/lowes-reports-third-quarter-2024-sales-and-earnings-results" rel="noreferrer noopener">beating the street view of $2.82</a>.



Quarterly sales of $20.170 billion outpaced the analyst consensus estimate of $19.424 billion.



Comparable sales for the quarter decreased 1.1%, driven by continued softness in DIY bigger-ticket discretionary demand, partly offset by storm-related sales and positive comparable sales in Pro and online.



Gross margin in the quarter under review remained relatively flat year over year to 33.69%. Quarterly operating income totaled $2.536 billion compared with $2.696 billion a year ago.



Also Read: <a target="_blank" href="https://www.benzinga.com/news/global/24/11/42052735/boeing-to-lay-off-over-2500-workers-in-the-us-amid-global-workforce-reduction" rel="noreferrer noopener">Boeing To Lay Off Over 2,500 Workers In The US Amid Global Workforce Reduction</a>



During the third quarter, the company recognized a&nbsp;$54 million&nbsp;pre-tax gain associated with the 2022 sale of the Canadian retail business. This positively impacted third-quarter diluted EPS by&nbsp;10 cents.



&#8220;Next month at our Analyst and Investor Conference, I look forward to discussing our new growth and productivity initiatives, which underscore our confidence that we are well-positioned to capitalize on the expected recovery in home improvement,&#8221; said&nbsp;Marvin R. Ellison, Lowe&#8217;s chairman, president and CEO.&nbsp;&nbsp;



As of&nbsp;Nov. 1, Lowe&#8217;s operated 1,747 stores representing 195.0 million square feet of retail selling space.



Guidance: Lowe&#8217;s has revised its fiscal year 2024 outlook for its adjusted earnings per share (EPS) guidance from a range of $11.70 &#8211; $11.90 to a range of $11.80 &#8211; $11.90, <a href="https://www.benzinga.com/calendars/guidance" target="_blank" rel="noreferrer noopener">compared with the consensus estimate of $11.85.</a>



Additionally, the company raised its sales forecast from a range of $82.70 billion &#8211; $83.20 billion to a new range of $83.00 billion &#8211; $83.50 billion, compared with the consensus estimate of $83.05 billion.



For FY24, Comparable sales is expected to be -3.0 to -3.5%, as compared to prior year (previous view -3.5% to -4.0%).



Adjusted operating income as a percentage of sales (adjusted operating margin) of 12.3% to 12.4% (previously 12.4% to 12.5%).



Price Action: LOW shares are trading lower by 1.02% to $269.00 premarket at last check Tuesday.



Photo via <a href="https://commons.wikimedia.org/wiki/File:Lowe%27s_-_Cranberry_TWP,_PA_-_panoramio.jpg">Wikimedia Commons</a>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/24/11/42022585/michael-van-de-poppe-says-bitcoin-ethereum-and-altcoins-close-to-the-point-where-investors-can-buy-the-dip?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Michael Van De Poppe Says Bitcoin, Ethereum And Altcoins Close To The Point Where Investors Can &#8216;Buy The Dip&#8217;</a></li>
</ul>

General

Lowe's Q3: Earnings: Revenue And EPS Beat But Comp Sales Fall Amid Softness In Bigger-Ticket DIY Discretionary Demand

Leading cryptocurrencies inched higher Monday, coinciding with a surge in tech stocks.



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:30 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+0.60%</td><td>$91,007.28</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>+1.49%</td><td>$3,158.99</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>+2.23%</td><td>$0.3725</td></tr></tbody></table></figure>



What Happened: Bitcoin exhibited choppy movement, oscillating between $92,000 and $89,000. The leading cryptocurrency has lost momentum since smashing past $93,000 last week.&nbsp;



Ethereum moved slightly northward, reaching an intraday high of $3,225 before rapidly retreating to $3,150.



In the past 24 hours, 114,745 traders were liquidated, with the total liquidations at $329.61 million. Over $200 million in upside bets was wiped out.&nbsp;



The Open Interest (OI) in Bitcoin futures rose 2% in the last 24 hours, suggesting sustained speculative interest.



The number of traders holding Bitcoin long positions climbed considerably over the previous 24 hours, signaling expectations that the rally will resume.



The "Extreme Greed" sentiment increased to 90, as per the Cryptocurrency Fear and Greed Index.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:30 p.m. ET)</td></tr><tr><td>Hedera (HBR)</td><td>+40.64%</td><td>$0.1395</td></tr><tr><td>Tezos (XTZ)</td><td>+40.27%</td><td>$1.13</td></tr><tr><td>Akash Network (AKT)</td><td>+38.64%</td><td>$4.55</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.08 trillion, rising 1.84% in the last 24 hours.



The Nasdaq Composite, the barometer of tech stocks, popped 111.68 points, or 0.60%, to end at 18,791.81. The S&amp;P 500 gained 0.39% to close at 5,893.62, while the Dow Jones Industrial Average closed 0.13% lower at 43,389.60.



The tech rally was driven by a 5.62% jump in shares of EV juggernaut Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) on reports suggesting that the upcoming regulatory framework under Trump <a href="https://www.benzinga.com/markets/equities/24/11/42028797/tesla-soars-over-5-in-overnight-trading-as-trump-administration-reportedly-seeks-to-ease-fsd-norms">might ease mandates</a> for self-driving vehicles.



Additionally, investors were geared up for AI behemoth Nvidia Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42048963/why-nvidia-earnings-may-trigger-massive-sp-500-volatility">earnings report</a> on Wednesday.



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



Analyst Notes: Popular cryptocurrency analyst Ali Martinez used historical trajectories to project Bitcoin's next moves before a significant correction.&nbsp;



"During the 2017 bull market, Bitcoin surged 156% past its previous all-time high before the first major correction of -39%. In 2020, BTC rose 121% before a -32% correction," Martinez stated.&nbsp;



Should history repeat, Bitcoin could reach $138,000 before its "first major pullback," the analyst 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">During the 2017 bull market, <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> surged 156% past its previous all-time high before the first major correction of -39%. In 2020, <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> rose 121% before a -32% correction. If history repeats, <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> could reach at least $138,000 before experiencing the first major pullback. <a href="https://t.co/eM3kLt6DA9">pic.twitter.com/eM3kLt6DA9</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1858654419602297074?ref_src=twsrc%5Etfw">November 18, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Popular on-chain analytics firm CryptoQuant said that Bitcoin has "room" for further growth based on the reading of the Short Term Holders SOPR indicator.



The SOPR, combined with the 30-day moving average (30d MA), revealed that short-term holders are taking moderate profits, with no signs of excessive euphoria.



"Currently, the indicator remains in the middle region, far from the Extreme Greed range, suggesting that the asset still has room to continue rising before reaching a possible market top," CryptoQuant noted.



<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">SOPR: <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> still has room to rise "Indicator remains in the middle region, far from the Extreme Greed range, suggesting that the asset still has room to continue rising before reaching a possible market top." – By <a href="https://twitter.com/gaah_im?ref_src=twsrc%5Etfw">@gaah_im</a> Link &#x1f447;<a href="https://t.co/XvSKZ9xXIY">https://t.co/XvSKZ9xXIY</a> <a href="https://t.co/WTIHMbp1Rm">pic.twitter.com/WTIHMbp1Rm</a>&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1858582176499200007?ref_src=twsrc%5Etfw">November 18, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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



<ul>
<li><a href="https://www.benzinga.com/news/24/11/42027165/musks-doge-role-boosts-dogecoin-as-brian-armstrong-shows-support">Musk&#8217;s DOGE Role Boosts Dogecoin As Brian Armstrong Shows Support</a></li>
</ul>

Bitcoin, Ethereum, Dogecoin Rise Amid Tesla-Fueled Tech Stocks Rally: Popular Analyst Says BTC Could Reach $138K Before 'Major Pullback'

On Monday, November 18, U.S. markets ended mixed, partially recovering losses as investors awaited Nvidia&#8217;s highly anticipated Q3 earnings, seen as a key gauge of AI-driven market momentum. 



Tesla shares climbed on optimism over potential policy shifts under the incoming Trump administration. While analysts note a widening focus beyond Nvidia, its influence on market sentiment remains significant.



In economic data, the NAHB/Wells Fargo Housing Market Index rose to 46 in November, marking its highest level in seven months, up from 43 in October.



S&amp;P 500 sectors rose Monday, led by energy, communication services, and consumer discretionary stocks, while industrials declined.



The Dow Jones Industrial Average was down 0.13% and closed at 43,389.60, the S&amp;P 500 gained 0.39% to 5,893.62, and the Nasdaq Composite rose 0.60% to finish at 18,791.81.



Asia Markets Today



<ul>
<li>On Tuesday, Japan&#8217;s Nikkei 225 gained 0.45% and ended the session at 38,405.00, led by gains in the Paper &amp; Pulp, Steel, and Warehousing sectors.</li>



<li>Australia&#8217;s S&amp;P/ASX 200 rose 0.89% and ended the day at 8,374.00, led by gains in the Gold, IT, and Telecoms Services sectors.</li>



<li>India&#8217;s Nifty 50 closed 0.07% higher at 23,470.45, and Nifty 500 up 0.23% at 21,950.85, led by gains in the Auto, Real Estate and Consumer Durables sectors.</li>



<li>China&#8217;s Shanghai Composite gained 0.67% to close at 3,346.01, and the Shenzhen CSI 300 rose 0.67%, finishing the day at 3,976.89.</li>



<li>Hong Kong&#8217;s Hang Seng gained 0.44% and closed the session at 19,663.67.</li>
</ul>



Eurozone at 05:30 AM ET



<ul>
<li>The European STOXX 50 index was down 1.47%.</li>



<li>Germany&#8217;s DAX slid 1.07%.</li>



<li>France&#8217;s CAC fell 1.32.</li>



<li>FTSE 100 index traded lower by 0.50%</li>
</ul>



Commodities at 05:30 AM ET



<ul>
<li>Crude Oil WTI was trading lower by 0.88% at $68.56/bbl, and Brent was down 0.75% at $72.75/bbl.</li>



<li>Oil prices dipped as Norway&#8217;s Johan Sverdrup oilfield resumed production, offsetting geopolitical tensions and Kazakhstan&#8217;s output cut. A stronger U.S. dollar also pressured prices while investors monitored escalating Russia-Ukraine tensions and weakening market structure signals.</li>



<li>Natural Gas rose 0.30% to $2.982.</li>



<li>Gold was trading higher by 0.94% at $2,639.20, Silver gained 0.92% to $31.508, and Copper fell 0.45% to $4.1015.</li>
</ul>



U.S. Futures at 05:30 AM ET



Dow futures declined 0.53%, S&amp;P 500 futures were down 0.38% and Nasdaq 100 futures fell 0.27%.



Forex at 05:30 AM ET



The U.S. dollar index gained 0.14% to 106.42, the USD/JPY was down 0.66% to 153.63, and the USD/AUD rose 0.17% to 1.5391.



Photo by Pavel Bobrovskiy via Shutterstock

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Asia Up, Europe Markets Slip; Oil Prices Pressured While Gold Strengthens - Global Markets Today While US Slept

Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) is set to lay off more than 2,500 employees across four U.S. states, including Washington, Oregon, South Carolina, and Missouri. This move is part of the company&#8217;s broader plan to cut 17,000 jobs, which accounts for 10% of <a href="https://www.benzinga.com/general/travel/24/11/42014904/boeing-begins-layoffs-is-the-737-max-recovery-enough-to-lift-ba-stock">its global workforce</a>.



What Happened: The layoffs will impact engineers, technicians, and non-union workers, reported Reuters. On Wednesday, the affected employees were informed that they would remain on Boeing&#8217;s payroll until Jan. 17, in compliance with federal regulations.



Boeing&#8217;s decision to issue a Worker Adjustment and Retraining Notification (WARN) in mid-November was widely anticipated. Additional layoffs are expected in December. The company may also reduce its workforce through workforce attrition, selective hiring, and the sale of subsidiaries.



The layoffs are expected to affect workers in the company&#8217;s key manufacturing hubs, providing an indication of the impact on the workforce.



See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42025317/dogecoin-repeating-its-historical-pattern-says-analyst-meme-coin-set-to-touch-3-by-trumps-inauguration-day-2025?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin &#8216;Repeating Its Historical Pattern,&#8217; Says Analyst: Meme Coin Set To Touch $3 By Trump&#8217;s Inauguration Day 2025</a>



Why It Matters: The layoffs come amid Boeing&#8217;s ongoing financial struggles. In October, the company announced <a href="https://www.benzinga.com/general/travel/24/11/42014904/boeing-begins-layoffs-is-the-737-max-recovery-enough-to-lift-ba-stock">plans to cut 10% of its workforce</a>. 



Despite these challenges, Boeing has been making efforts to recover. The company recently <a href="https://www.benzinga.com/news/large-cap/24/11/41946311/boeing-forecasts-67-growth-in-global-air-cargo-fleet-by-2043-driven-by-asia-demand">forecasted a 67% growth in the global air cargo fleet by 2043</a>, driven by strong demand in Asia. This indicates that Boeing is still a key player in the aviation industry and is working to adapt to changing market conditions.



Price Action: Boeing stock closed the regular trading session at $143.87 on Monday, up 2.63% for the day. In after-hours trading, the stock edged down 0.23%. Year to date, Boeing&#8217;s stock has declined significantly, falling 42.85%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/24/11/42022585/michael-van-de-poppe-says-bitcoin-ethereum-and-altcoins-close-to-the-point-where-investors-can-buy-the-dip?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Michael Van De Poppe Says Bitcoin, Ethereum And Altcoins Close To The Point Where Investors Can &#8216;Buy The Dip&#8217;</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.

Boeing To Lay Off Over 2,500 Workers In The US Amid Global Workforce Reduction

On Monday, Cathie Wood-led Ark Invest made a series of trades, with Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) being the most prominent. This comes amidst reports of President-elect Donald Trump&#8217;s plans to ease restrictions for self-driving vehicles and Tesla&#8217;s shares racing higher.



The TSLA Trade



Ark Invest&#8217;s trade involving Tesla shares comes at a time when the company&#8217;s stock is <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42038624/tesla-stock-is-trading-higher-monday-whats-going-on">experiencing a significant surge</a>. This surge is linked to reports that the incoming administration plans to prioritize a federal framework for autonomous vehicles, potentially making it easier to operate self-driving cars.



On Monday, Ark sold 30,939 Tesla shares worth $10.05 million from its flagship ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) fund. Tesla shares ended the day higher by 5.6% at $338.74.



Ark has been on a Tesla share-selling spree of late. After the Elon Musk-led company released its <a href="https://www.benzinga.com/markets/equities/24/10/41536387/cathie-woods-ark-sells-22m-worth-of-tesla-shares-following-blockbuster-q3-rally">third-quarter numbers</a> in late October, the Wood-led firm sold $22.2 million worth of the stock.



Wood has highlighted Tesla&#8217;s<a href="https://www.benzinga.com/markets/equities/24/10/41200165/cathie-wood-predicts-trillion-dollar-revenue-opportunity-for-tesla-in-autonomous-vehicles-winner"> trillion-dollar revenue pot</a>ential in autonomous vehicles. On the topic she said, &#8220;The company that gets people from point A to point B the fastest, safest, and with the least wait time is going to dominate the market.&#8221;



See Also: <a href="https://www.benzinga.com/24/11/42022585/michael-van-de-poppe-says-bitcoin-ethereum-and-altcoins-close-to-the-point-where-investors-can-buy-the-dip?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Michael Van De Poppe Says Bitcoin, Ethereum And Altcoins Close To The Point Where Investors Can &#8216;Buy The Dip&#8217;</a> 



Other Key Trades:



<ul>
<li>Ark purchased shares of Blade Air Mobility (BLDE) and sold shares of Rocket Lab USA Inc (RKLB).</li>



<li>The firm sold shares of Unity Software Inc (U) and purchased shares of Crispr Therapeutics AG (CRSP).</li>
</ul>



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/24/11/42025223/legendary-investor-rob-arnott-says-stock-market-looks-and-feels-like-the-year-2000-as-wall-street-rallies-after-trumps-win-likely-to-see-a-bear-market?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Legendary Investor Rob Arnott Says Stock Market &#8216;Looks And Feels Like The Year 2000&#8217; As Wall Street Rallies After Trump&#8217;s Win: &#8216;&#8230;Likely To See A Bear Market&#8217;</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>

ARKK

Cathie Wood's Ark Sells $10M Of Tesla Stock As Trump's AV Plans Boost Stock

Investors and speculators are gearing up for Nvidia Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) earnings report on Wednesday, an event that&#8217;s expected to send ripples, if not tidal waves, <a href="https://www.benzinga.com/markets">across the U.S. stock market. </a>



If the options market is right, Nvidia's results could spark moves in the S&amp;P 500 index – as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) – larger than those typically triggered by key economic data like the employment and inflation reports.



Nvidia's dominance in the AI-driven technology trade has turned its earnings into a barometer for overall market sentiment, and its influence on the stock market is unparalleled.



Over the past year, Nvidia accounted for 20% of the S&amp;P 500's total returns and Bank of America's derivatives analyst Gonzalo Asis didn't mince words: &#8220;It remains the most dominant stock in the market… expected to drive nearly 25% of the S&amp;P 500&#8217;s EPS growth in 3Q.&#8221;



In essence, whether Nvidia beats or misses expectations, the ripple effects will likely extend far beyond its ticker.



<h3 class="wp-block-heading">S&amp;P 500 Implied Move Is Higher Than Inflation Or Jobs Data</h3>



The options market implies a potential 1.05% move in the S&amp;P 500—higher than what traders expect from next month's Non-Farm Payroll (NFP) data, Consumer Price Index (CPI) print, and in line with the Federal Reserve&#8217;s December meeting.



&#8220;Options are assigning more broad-market risk around NVDA earnings than around next month&#8217;s NFP and CPI days, and as much as the Dec FOMC,&#8221; the analyst noted.



For Nvidia shares themselves, the implied one-day move is even more eye-popping: 12.5%.



&#8220;We remain cautious of fragility risks in single names around earnings, but NVDA hedges themselves are not particularly cheap relative to how much the stock has reacted to results in the last two years,&#8221; Assis wrote.



The analyst also warned that the recent easing of post-election euphoria and heightened single-stock fragility can be reasons for traders to hedge against potential market turbulence if Nvidia disappoints.



<h3 class="wp-block-heading">A Strategy For Hedging The Nasdaq Impact</h3>



For traders seeking to hedge the broader market risks tied to Nvidia&#8217;s performance, Bank of America recommended an option strategy using put spreads on the Nasdaq-100 ETF, the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>). Specifically, the QQQ 22Nov 490-480 put spreads are priced at $2 and could offer a 5x payout if the Nasdaq-100 falls by roughly 3.3% this week.



Despite the potential need for hedges, the bank also noted that hedging NVDA earnings directly is not cheap, considering how significantly the stock has reacted to its last few earnings reports.



<h3 class="wp-block-heading">Historical Nvidia Earnings Data</h3>



Data from <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent111824&amp;t=be2bearmibe3na1">Benzinga Pro</a> shows that over the last 12 quarters, Nvidia has exceeded earnings-per-share (EPS) expectations 10 times and missed revenue expectations only once. 



On average, Nvidia shares moved 5.3% in the single trading day following its earnings release.



The largest 1-day gain followed its first quarter 2024 earnings, when the stock surged 24.4%, while the worst reaction occurred after fourth quarter 2024 results, with a decline of 7.6%. 



Here's a snapshot of the company's recent earnings performance:



<figure class="wp-block-table is-style-stripes"><table><thead><tr><th>Fiscal Quarter</th><th>Date Announced</th><th>Surprise % EPS</th><th>Surprise % Revenue</th><th>1-Day % NVDA Move</th></tr></thead><tbody><tr><td>Q2-2025</td><td>8/28/24</td><td>6.25%</td><td>4.73%</td><td>-6.38%</td></tr><tr><td>Q1-2025</td><td>5/22/24</td><td>2.86%</td><td>5.66%</td><td>9.32%</td></tr><tr><td>Q4-2024</td><td>2/21/24</td><td>11.45%</td><td>7.19%</td><td>16.40%</td></tr><tr><td>Q3-2024</td><td>11/21/23</td><td>19.64%</td><td>12.39%</td><td>-2.46%</td></tr><tr><td>Q2-2024</td><td>8/23/23</td><td>29.19%</td><td>20.38%</td><td>0.10%</td></tr><tr><td>Q1-2024</td><td>5/24/23</td><td>18.48%</td><td>10.31%</td><td>24.37%</td></tr><tr><td>Q4-2023</td><td>2/22/23</td><td>8.64%</td><td>0.68%</td><td>14.02%</td></tr><tr><td>Q3-2023</td><td>11/16/22</td><td>-15.94%</td><td>2.79%</td><td>-1.46%</td></tr><tr><td>Q2-2023</td><td>8/24/22</td><td>-59.20%</td><td>-17.23%</td><td>4.01%</td></tr><tr><td>Q1-2023</td><td>5/25/22</td><td>5.43%</td><td>2.07%</td><td>5.16%</td></tr><tr><td>Q4-2022</td><td>2/16/22</td><td>8.20%</td><td>3.01%</td><td>-7.56%</td></tr><tr><td>Q3-2022</td><td>11/17/21</td><td>6.36%</td><td>4.00%</td><td>8.25%</td></tr></tbody></table><figcaption class="wp-element-caption">Data: Benzinga Pro</figcaption></figure>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42042411/inflation-could-surge-to-3-if-trump-applies-universal-tariffs-goldman-sachs">Inflation Could Surge To 3% If Trump Applies Universal Tariffs: Goldman Sachs</a></li>
</ul>



Photo: Shutterstock

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Why Nvidia Earnings May Trigger Massive S&P 500 Volatility

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