Leading cryptocurrencies rose further on Wednesday as cooler inflation data boosted risk appetite.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 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>+1.32%</td><td>$83,916.13</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>-0.45%</td><td>$1,905.35</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>+4.63%</td><td>$0.1723</td></tr></tbody></table></figure>



What Happened: Bitcoin surpassed $84,000 in the early morning hours, but profit-taking swiftly reversed the gains. The leading cryptocurrency progressively increased and stabilized in the $83,000 region.



The day saw video-sharing platform Rumble Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUM#NASDAQ">RUM</a>) announcing <a href="https://in.benzinga.com/25/03/44281569/rumble-buys-bitcoin-a-valuable-hedge-against-inflation">a $17 million Bitcoin purchase</a> for its Treasury.



Ethereum remained choppy in the $1,850-$1,950 zone as holders awaited a breakout above $2,000. The second-largest cryptocurrency's market dominance fell further to 8.5%, while Bitcoin maintained a 61.2% share.



Long liquidations hit $150 million, while $119 million in downside bets were erased in the last 24 hours. About $500 million in shorts risked liquidation if Bitcoin rallied to $86,800.



Bitcoin's Open Interest rose 1.44% over the last 24 hours. Interestingly, the number of traders positioned short on the apex digital asset surpassed longs, according to the Long/Short Ratio.



The market remained in the "Fear" zone, according to the Crypto Fear and Greed Index, suggesting potential for further downsides.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:30 p.m. ET)</td></tr><tr><td>Pi (PI)</td><td>+24.57%</td><td>$1.77</td></tr><tr><td>Story (IP)</td><td>+15.18%</td><td>$6.25</td></tr><tr><td>Celestia (TIA)</td><td>+12.73%</td><td>$3.67</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $2.71 trillion, following an increase of 0.68% in the last 24 hours.



Major stock averages recuperated on Wednesday. The S&amp;P 500 rose 0.49% to close at 5,599.30. The tech-heavy Nasdaq Composite gained 1.22%, ending at 17,648.45. Conversely, the Dow Jones Industrial Average recorded the third straight losing day of the week, closing 0.20% lower at 41,350.93.



The recovery followed cooler-than-expected <a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44274165/inflation-cools-more-than-expected-in-february-strengthens-the-case-for-fed-rate-cuts">February's consumer price index data</a>, reinforcing the Federal Reserve&#8217;s path toward interest rate cuts.



While the likelihood of rate cuts appeared slim at the March and May meetings, traders have priced in a 68% chance of a 25 basis point rate drop in June, <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">according </a>to the CME FedWatch tool.



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



Analyst Notes: Well-known on-chain analytics firm Santiment noted a sharp jump in Tether's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>) on-chain activity, with transfers hitting a six-month high.



"When USDT &amp; other stablecoin activity spikes during price drops, traders are preparing to buy. Added buy pressure aids in cryptocurrency prices recovering," Santiment 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">&#x1f4b8; Tether&#39;s on-chain activity has been rapidly rising, with over 143K wallets making transfers yesterday alone (a 6-month high). When <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDT</a> &amp; other stablecoin activity spikes during price drops, traders are preparing to buy. Added buy pressure aids in crypto prices recovering. <a href="https://t.co/siFOR7vSf7">pic.twitter.com/siFOR7vSf7</a>&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1899903453557920067?ref_src=twsrc%5Etfw">March 12, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Widely followed cryptocurrency analyst Ali Martinez suspected an inverse head-and-shoulders pattern on Bitcoin's chart, potentially triggering a bullish breakout toward $91,000.



An inverse head and shoulders indicates a potential reversal from a negative trend to an upward trend



<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">If this is an inverse head-and-shoulders pattern, <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> could see a bullish breakout toward $91,000! <a href="https://t.co/35m6sNUc47">pic.twitter.com/35m6sNUc47</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1899873774415364426?ref_src=twsrc%5Etfw">March 12, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo by SvetlanaParnikova on Shutterstock



Read Next:    



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44287639/trump-appointed-sec-chair-could-fast-track-crypto-etf-approvals-xrp-solana-dogecoin-etfs-coming-by-june">Trump-Appointed SEC Chair Could Fast-Track Crypto ETF Approvals: XRP, Solana, Dogecoin ETFs Coming By June?</a></li>
</ul>

Cryptocurrency

News

Markets

Movers

Trading Ideas

$BTC

$DOGE

$ETH

$USDT

Bitcoin, Dogecoin Rise, Ethereum Trades Flat On Cooler-Than-Expected Inflation: Top Analyst Anticipates BTC's Bullish Breakout Toward $91,000

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) will likely face <a href="https://www.benzinga.com/news/25/03/44285277/trump-buys-tesla-model-s-plaid-gary-black-calls-endorsement-potentially-huge-says-it-could-drive-1-7">near-term delivery challenges</a> before experiencing significant growth in 2026, according to Gene Munster, Managing Partner at Deepwater Asset Management.



What Happened: Munster wrote on X Wednesday that CEO Elon Musk &#8220;is bullish on Tesla&#8217;s output expansion, expecting it to double in the next couple of years.&#8221; However, Munster forecasts Tesla deliveries will decline 5% in 2025 before surging 40% in 2026.



This prediction comes as Musk announced Tesla&#8217;s commitment to doubling U.S. vehicle production within two years &#8220;in support of the policies of President Donald Trump&#8221; and to &#8220;demonstrate our confidence in the future of the United States.&#8221;



The expansion timeline aligns with previous company statements. Tesla mentioned plans to increase capacity by 60% this year during its last earnings report, which Munster notes implies &#8220;an additional 25% capacity growth in 2026.&#8221;



Munster acknowledged this expansion would be &#8220;negative for near-term cash flow and positive for long-term margins.&#8221; The key question, he added, is &#8220;will consumers buy that increased capacity?&#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">Elon is bullish on <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a>&#39;s output expansion, expecting it to double in the next couple of years. On the last earnings report, the company mentioned to expect capacity to increase 60% this year, which means Elon&#39;s comment implies an additional 25% capacity growth in 2026. This…&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1899821634938151192?ref_src=twsrc%5Etfw">March 12, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also: <a href="https://www.benzinga.com/markets/25/03/44267663/ray-dalio-warns-us-debt-crisis-could-trigger-shocking-developments-calls-to-reduce-deficit-at-3-of-gdp">Ray Dalio Warns US Debt Crisis Could Trigger &#8216;Shocking Developments&#8217; Calls To Reduce Deficit At 3% Of GDP</a>



Why It Matters: Tesla faces significant headwinds. According to S&amp;P Global Mobility data, the company&#8217;s U.S. registrations dropped 11% in January while competitors saw a 44% increase. European registrations fell by more than 50% <a href="https://www.benzinga.com/25/03/44283118/tesla-loses-ground-in-us-ev-market-while-rivals-accelerate-ahead-in-january-report">year-over-year</a>.



Wedbush Securities analyst Dan Ives, despite maintaining a bullish outlook on Tesla, expressed <a href="https://www.benzinga.com/markets/equities/25/03/44268904/elon-musks-current-leadership-situation-is-not-sustainable-for-shareholders-says-tesla-bull-needs-to-strike-a-balance-with-doge">concerns about Musk&#8217;s divided attention</a> between Tesla and his role in Trump&#8217;s Department of Government Efficiency. Ives stated that the &#8220;current leadership situation is not sustainable for Tesla shareholders.&#8221;



Tesla&#8217;s stock has declined over 50% from recent highs, with protests emerging in the U.S. and Europe criticizing Musk&#8217;s political activities. The company&#8217;s first-quarter earnings report in April may provide crucial insights into whether it can <a href="https://www.benzinga.com/25/03/44283118/tesla-loses-ground-in-us-ev-market-while-rivals-accelerate-ahead-in-january-report">reverse these negative trends</a>.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/03/44267822/palantir-executive-pushes-pentagon-to-adopt-software-first-approach-noting-us-allocates-less-than-1-of-defense-budget-to-modern-battlefield">Palantir Calls For &#8216;Software-First Approach&#8217; As Pentagon Spends Under 1% On Modern Warfare</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.

Equities

TSLA

Elon Musk Expects Tesla Output To Double Over Next Couple Of Years, But Gene Munster Predicts Number To Drop Before A Surge In 2026

On Wednesday, Cathie Wood-led Ark Invest made significant trades involving Tempus AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEM#NASDAQ">TEM</a>) and Rocket Lab USA Inc. (NCM: RKLB).



The Tempus AI Trade



Ark Invest&#8217;s ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) acquired 29,845 shares of Tempus AI, valued at approximately $1.36 million, based on the closing price of $45.50. This purchase aligns with Ark&#8217;s ongoing strategy to bolster its position in innovative technology sectors. Tempus AI recently announced its acquisition of Deep 6 AI, a move expected to enhance its network with over 750 provider site locations and access to more than 30 million patients. This acquisition is anticipated to strengthen Tempus AI&#8217;s market presence and capabilities.



Furthermore, Tempus AI&#8217;s recent earnings report revealed a <a href="https://in.benzinga.com/news/earnings/25/02/43927560/tempus-ai-q4-earnings-revenue-miss-eps-beat-strong-guidance-shares-move-lower">revenue miss but an earnings-per-share beat</a>, coupled with strong future guidance. The strategic acquisition of Deep 6 AI and the positive earnings outlook underscore Tempus AI&#8217;s potential for growth, making it an attractive investment.



Wood has been <a href="https://www.benzinga.com/25/03/44267113/ark-invests-strategic-moves-tempus-ai-block-inc-and-draftkings-inc-in-focus">loading up on Tempus AI stock</a> in recent days. On Tuesday, Ark purchased $4.29 million worth of stock, while on Monday, amid the tech meltdown, the firm had scooped up stock worth $13.23 million.



The Rocket Lab Trade



Ark Invest also made notable moves involving Rocket Lab. The ARK Autonomous Technology &amp; Robotics ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#NYSE">ARKQ</a>) and ARK Space Exploration &amp; Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKX#NYSE">ARKX</a>) collectively sold 41,839 shares of Rocket Lab, valued at approximately $771,092, based on the closing price of $18.43. This sale comes amid Rocket Lab&#8217;s recent announcement of being selected by Airbus SE to <a href="https://in.benzinga.com/25/03/44275713/why-rocket-lab-stock-is-gaining-today">supply solar panels</a> for 100 OneWeb Low Earth Orbit satellites, a development that has positively impacted Rocket Lab&#8217;s stock price.



Additionally, Rocket Lab recently inked a non-binding term sheet to acquire a controlling stake in Mynaric AG for $75 million, with an additional earn-out tied to future revenue targets. This acquisition aims to enhance Rocket Lab&#8217;s satellite technology capabilities, further solidifying its position in the aerospace sector.



Other Key Trades:



<ul>
<li>Sold 9,961 shares of CareDx Inc (CDNA) from ARKG.</li>



<li>Bought 8,890 shares of CRISPR Therapeutics AG (CRSP) for ARKK and 1,781 shares for ARKG.</li>



<li>Bought 15,095 shares of Intellia Therapeutics Inc (NTLA) for  ARKK and 3,025 shares for ARKG.</li>



<li>Bought 4,847 shares of AeroVironment Inc (AVAV) for ARKQ and 3,093 shares for ARKX.</li>
</ul>



Image via Shutterstock



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/25/03/44283669/this-pepsico-analyst-is-no-longer-bullish-here-are-top-5-downgrades-for-wednesday">This PepsiCo Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Wednesday</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>

ETFs

General

ARKK

ARKQ

ARKX

RKLB

Cathie Wood's Wednesday Moves: Ark Pours $1.36 Million Into Tempus AI Shares Following Deep 6 AI Acquisition, Offloads Rocket Lab Stock

Adobe Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) announced first-quarter financial results Wednesday after the bell. Here&#8217;s a rundown <a href="http://benzinga.com/quote/adbe">of the report</a>.



Q1 Earnings: Adobe reported first-quarter revenue of $5.71 billion, beating the&nbsp;<a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">consensus estimate</a>&nbsp;of $5.66 billion. The company reported first-quarter adjusted earnings of $5.08 per share, beating analyst estimates of $4.97 per share, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.



Total revenue was up 10% year-over-year. Broken down by segment, digital media revenue was up 11% year-over-year and digital experience revenue climbed 10% year-over-year.



Remaining performance obligations came in at $19.69 billion and cash flows from operations totaled $2.48 billion in the first quarter. 



Adobe noted it repurchased approximately seven million shares during the period. The company ended the quarter with $6.76 billion in cash and cash equivalents.



&#8220;Adobe&#8217;s success over the next decade will be driven by customer-focused innovation and new offerings for creators, marketing professionals, business professionals and consumers,&#8221; said&nbsp;Shantanu Narayen, chair and CEO of Adobe.



&#8220;Adobe is well-positioned to capitalize on the acceleration of the creative economy driven by AI and we are reaffirming our FY2025 financial targets.&#8221;



See Also: <a href="https://www.benzinga.com/25/03/44284016/tesla-to-120-here-are-10-top-analyst-forecasts-for-wednesday">Tesla To $120? Here Are 10 Top Analyst Forecasts For Wednesday</a>



Outlook: Adobe expects second-quarter revenue of $5.77 billion to $5.82 billion versus estimates of $5.8 billion. The company anticipates second-quarter adjusted earnings of $4.95 to $5 per share versus estimates of $5 per share.



Adobe reaffirmed expectations for full-year 2025 revenue between $23.3 billion and $23.55 billion versus estimates of $23.5 billion. Adobe sees full-year adjusted earnings in the range of $20.20 to $20.50 per share versus estimates of $20.40 per share.



Adobe noted it will host an Investor Meeting on March 18 at the Adobe Summit to provide updates on its strategy and roadmap.



Adobe executives will further discuss the quarter on a call with investors and analysts from 5 p.m. to 6 p.m. ET.



ADBE Price Action: <a href="https://www.benzinga.com/quote/ADBE" target="_blank" rel="noreferrer noopener">Adobe shares</a> were down 3.33% after-hours, trading at $438.60 at the time of publication on Wednesday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.



Photo: Shutterstock.

Earnings

After-Hours Center

ADBE

Adobe Q1 Earnings: Revenue Beat, EPS Beat, Reaffirmed FY Guidance And More

Dollar General Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) is set to release its fourth-quarter financial results ahead of Thursday's opening bell. Here's a look at what to <a href="https://www.benzinga.com/content/43900679/these-3-defensive-retail-stocks-are-outpacing-the-market">expect in the report. </a>



What To Watch: Wall Street is looking for updates on Dollar General's quarterly revenue and profit margins as mega-retailers like Walmart and Amazon have been capturing market share. 



Cash-strapped and value-conscious consumers are visiting discount retailers more frequently in the current high-inflation environment.



According to<a href="https://www.placer.ai/blog/discount-and-dollar-stores-in-a-strong-position-to-start-2025"> data </a>from Placer.ai, Dollar General's foot traffic grew 5.1% in 2024 along with the number of weekday visits, as demand for everyday essentials grew. Additional foot traffic and visits could translate into higher revenues for the retailer.&nbsp;



Read More: <a href="https://www.benzinga.com/general/social-media/25/03/44286296/trump-media-technology-stock-drops-50-since-inauguration-day">Trump Media &amp; Technology Stock Drops 50% Since Inauguration Day</a>&nbsp;



Investors will be watching the company's guidance and commentary for insight into the potential effects of tariffs on goods imported from China. Tariffs could significantly impact Dollar General&#8217;s profit margins, as the company imports a portion of its products from China. Increased costs could be passed on to consumers, potentially affecting future sales volumes. 



According to estimates from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, analysts expect the company to report quarterly earnings of $1.50 per share on revenue of $10.26 billion. Dollar General has missed analysts' profit estimates for the last two quarters.&nbsp;



DG Price Action: Dollar General shares ended Wednesday's session down 4.82% at $74.85, according to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro.&nbsp;</a>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/general/social-media/25/03/44098232/markets-tank-after-trump-confirms-more-tariffs-heres-what-wall-street-is-saying">Markets Tank After Trump Confirms More Tariffs: Here&#8217;s What Wall Street Is Saying</a></li>
</ul>



Photo: Shutterstock

Previews

Dollar General Q4 Earnings Preview: Revenue, Profit Margins, Tariffs In The Spotlight

Bitcoin and Ethereum struggle to maintain gains, while XRP rallies on optimism over the SEC potentially closing its case against Ripple. 



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Price&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>$82,997.45</td><td>-0.13%</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>$1,876.24</td><td>-3.7%</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>$124.56</td><td>-2.1%</td></tr><tr><td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>$2.23</td><td>+2.5%</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.1689</td><td>+1.3%</td></tr><tr><td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.00001229</td><td>+0.8%</td></tr></tbody></table></figure>



Notable Statistics:



<ul>
<li>IntoTheBlock data shows large transaction volume increasing by 5.2% and daily active addresses falling by 3.4%. Transactions greater than $100,000 are down from 11,844 to 10,766 in a single day. Exchanges netflows are down by 100.9%.</li>



<li>Coinglass data reports 97,058 traders were liquidated in the past 24 hours for $281.42 million.</li>
</ul>



Notable Developments:



<ul>
<li><a href="https://in.benzinga.com/markets/cryptocurrency/25/03/44281794/binance-secures-2-billion-investment-from-abu-dhabi-mgx">Binance Secures $2 Billion Investment From Abu Dhabi MGX</a></li>



<li><a href="https://in.benzinga.com/25/03/44281569/rumble-buys-bitcoin-a-valuable-hedge-against-inflation">Rumble Buys Bitcoin: &#8216;A Valuable Hedge Against Inflation&#8217;</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44272805/bitwise-launches-etf-tracking-firms-with-over-1000-bitcoin">Bitwise Launches ETF Tracking Firms With Over 1,000 Bitcoin</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44275216/bitcoin-to-defy-trump-tariffs-recession-fears-will-hit-200000-by-end-of-2025-standard-chartered">Bitcoin To Defy Trump Tariffs, Recession Fears, Will Hit $200,000 By End Of 2025: Standard Chartered</a></li>



<li><a href="https://in.benzinga.com/markets/cryptocurrency/25/03/44280122/after-vladimir-putin-said-nobody-can-ban-bitcoin-the-bank-of-russia-is-looking-to-allow-crypto-purchases">After Vladimir Putin Said &#8216;Nobody Can Ban Bitcoin&#8217;, The Bank Of Russia Is Looking To Allow Crypto Purchases</a></li>
</ul>



Top Gainers:



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Pi (CRYPTO: PI)</td><td>&nbsp;$1.70</td><td>+21.5%</td></tr><tr><td>Celestia (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TIA</a>)</td><td>&nbsp;$3.58</td><td>+16%</td></tr><tr><td>Story (CRYPTO: IP)</td><td>&nbsp;$6.04</td><td>+9.7%</td></tr></tbody></table></figure>



Trader Notes: Crypto trader Intuitio <a href="https://x.com/intuitio_/status/1899854521553006880">argues</a> that Bitcoin has only had a taste of the bull market, while Ethereum never truly experienced one—it was merely in an echo bubble that has now deflated. 



With BTC retesting its previous all-time high, he believes the claim that "the bull run hasn't even begun" may hold weight.



Jelle <a href="https://x.com/CryptoJelleNL/status/1899839832035058101">sees</a> bears still in control, noting that Monday's highs were swept, followed by a lower low after a series of higher lows.



 He warns that when bearish setups play out cleanly, there's no reason to chase short-term upside—instead, patience is key.



Moustache aka El Crypto Prof points out that the last time the S&amp;P 500's daily RSI was this low, Bitcoin rallied over 300% afterward. With both BTC and the S&amp;P 500 touching a key trendline, he believes this could be a bullish signal.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> The last time the RSI in the S&amp;P 500 (D) was this low, <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> rose more than 300% thereafter. -Both assets are also touching a very important trend line Be more bullish guys. <a href="https://t.co/SLuHrzk7ZF">pic.twitter.com/SLuHrzk7ZF</a>&mdash;

$SHIB

$SOL

$TIA

$XRP

Bitcoin, Ethereum Slip, XRP, Dogecoin Hold Gains On Slow Wednesday

JPMorgan Chase &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO Jamie Dimon is no stranger to making bold predictions about the economy. His latest comments suggest storm clouds <a href="https://www.benzinga.com/25/03/44270128/us-recession-probability-escalates-to-35-amid-tariffs-pimco-sounds-alarm">could be forming once again</a>.



What To Know: At the 2025 National Retirement Summit hosted by BlackRock and Semafor on Wednesday, Dimon warned that he sees a weakening of the economy and negative sentiment, according to an X <a href="https://x.com/SpencerHakimian/status/1899879996304273725">post</a> from Tolou Capital Management founder Spencer Hakimian. The post also indicates that Dimon believes tariffs are causing uncertainty.



<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">&#x2A;JP MORGAN&#39;S CEO DIMON: SEEING WEAKENING IN ECONOMY, NEGATIVE SENTIMENT &#x2A;DIMON SAYS TARIFFS ARE CAUSING UNCERTAINTY Most important private sector human on earth telling it to you straight up.&mdash; Spencer Hakimian (@SpencerHakimian) <a href="https://twitter.com/SpencerHakimian/status/1899879996304273725?ref_src=twsrc%5Etfw">March 12, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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Semafor Principals editor Morgan Chalfant also reported similar details from the event in a separate X <a href="https://x.com/mchalfant16/status/1899878158389719290">post</a>. Chalfant noted that although Dimon said <a href="https://www.benzinga.com/25/02/43564020/consumer-sentiment-sinks-economist-flags-unusually-large-rise-in-inflation-perception">consumer sentiment is weakening</a>, the JPMorgan chief indicated that he doesn&#8217;t believe the average American &#8220;changes what they&#8217;re going to do&#8221; because of tariffs.



Dimon isn&#8217;t always spot-on with his predictions. In late 2022, he warned that an <a href="http://www.benzinga.com/news/22/10/29208975/jamie-dimon-warns-of-u-s-recession-in-6-9-months-says-jp-morgan-preparing-for-economic-hurricane" target="_blank" rel="noreferrer noopener">economic &#8220;hurricane&#8221;</a> was coming in mid-2023.



Dimon later walked back those comments after data showed otherwise.



&#8220;I shouldn't ever use the word hurricane, but &#8230; there were storm clouds,&#8221; Dimon <a href="https://www.benzinga.com/news/23/01/30358567/i-shouldnt-ever-use-the-word-hurricane-jamie-dimon-says-storm-clouds-remain-but-the-consumer-is-roll">said</a> in a 2023 interview.



It&#8217;s not clear if Dimon sees &#8220;storm clouds&#8221; over the economy this time around, but he at least appears to be taking a cautious stance. 



Price Action: <a href="http://benzinga.com/quote/jpm">JPMorgan shares</a> were up 0.61% at $230.50 at the time of publication Wednesday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/03/44280431/cpi-reactions">Inflation Moves In The &#8216;Right Direction&#8217; But Forecast Is Hazy, Economist Says</a></li>
</ul>



Photo: Shutterstock.

Events

Jamie Dimon Warns Of Economic Weakening, Negative Consumer Sentiment

Tesla Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) trend might not be in a good space. The <a href="https://www.benzinga.com/topic/tesla" target="_blank" rel="noreferrer noopener">new U.S. registrations</a> for the Elon Musk led electric vehicle maker slipped 11% in January 2025, while rival registrations noted a 44% rise, led by Ford Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), Chevrolet, and Volkswagen AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>), Automotive News <a href="https://www.autonews.com/tesla/an-tesla-us-sales-fall-as-evs-rise-overall-0312/#:~:text=U.S.%20registrations%20sink%2011%25%20in%20January%20as%20EV%20rivals%20surge%2044%25&amp;text=Tesla's%20new%20U.S.%20registrations%20fell,S%26P%20Global%20Mobility%20data%20showed." target="_blank" rel="noreferrer noopener">cited</a> S&amp;P Global Mobility data on Wednesday.



Another report last week from the <a target="_blank" href="https://www.benzinga.com/news/global/25/02/43934934/new-tesla-registrations-dip-by-50-in-eu-in-january-despite-rising-overall-bev-market-share" rel="noreferrer noopener">auto industry body</a> said 7,517 new Tesla cars were registered in the E.U. in January,&nbsp;down from 15,130 in 2024.



Also Read: <a target="_blank" href="https://www.benzinga.com/markets/emerging-markets/25/03/44229408/alibaba-unveils-new-ai-chip-to-power-chinas-open-source-tech-push-challenge-us-chip-giants" rel="noreferrer noopener">Alibaba Unveils New AI Chip To Power China&#8217;s Open-Source Tech Push, Challenge US Chip Giants</a>



According to the European Automobile Manufacturers Association (ACEA), Tesla&#8217;s new car registration&nbsp;in the E.U. fell by over 50%&nbsp;in January despite a rise in overall battery electric vehicle registrations.



According to the Society of Motor Manufacturers and Traders (SMMT) data, Tesla had <a target="_blank" href="https://www.benzinga.com/tech/25/02/43520687/byd-overtakes-tesla-in-uk-after-elon-musk-led-ev-makers-new-vehicle-registrations-drop-in-january" rel="noreferrer noopener">1,458 registrations in</a> January in the U.K., down from the 1,581 registered in 2024. BYD Co (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>), in comparison, had 1,614 registrations, up by 551%.



Tesla researcher&nbsp;Troy Teslike&nbsp;said the EV company would likely not deliver 500,000 vehicles in a quarter in 2025, citing <a target="_blank" href="https://www.benzinga.com/tech/25/02/43967968/tesla-unlikely-to-deliver-500000-evs-in-a-quarter-in-2025-says-researcher-doesnt-seem-possible-this-year-either" rel="noreferrer noopener">brand sentiment issues</a>.



On the flip side, Tesla chief Elon Musk&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/25/03/44269513/elon-musk-says-tesla-will-double-us-production-in-2-years-after-trump-backs-ev-giant-amid-stock-slump" rel="noreferrer noopener">has announced that</a> Tesla&nbsp;will double vehicle production in the U.S. within two years.



Recently, President Donald Trump transformed the White House to showcase Tesla vehicles in solidarity with&nbsp;his senior advisor and de facto head of the Department of Government Efficiency (DOGE), Musk and his company. Trump also&nbsp;purchased a Tesla Model S Plaid.



Musk has acknowledged the challenges of running his business while working with DOGE amid a massive decline in Tesla&#8217;s stock price.&nbsp;



Tesla has faced protests against the company in the U.S. and Europe, with demonstrators criticizing Musk&#8217;s political activities.&nbsp;



According to <a target="_blank" href="https://www.statista.com/outlook/mmo/electric-vehicles/united-states" rel="noreferrer noopener">Statista</a>, the EV market in the U.S. could generate revenue of $104.7 billion in 2025 <a target="_blank" href="https://www.statista.com/outlook/mmo/electric-vehicles/united-states" rel="noreferrer noopener">and grow at an annual</a> rate (CAGR 2025-2029) of 10.53%, resulting in a projected market volume of $156.3 billion by 2029. Tesla&#8217;s upcoming earnings in April might be a good proxy for the recent reports on declining trends.



Price Action: TSLA stock is up 7.60% at $248.11 at last check Wednesday.



Also Read:



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<li><a href="https://www.benzinga.com/media/25/03/44229157/apple-supplier-foxconn-unveils-ai-model-using-nvidia-tech" target="_blank" rel="noreferrer noopener">Apple Supplier Foxconn Unveils AI Model Using Nvidia Tech</a></li>
</ul>



Photo via Shutterstock

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Tesla Loses Ground in US EV Market While Rivals Accelerate Ahead in January: Report

February's Consumer Price Index report released Wednesday came in cooler-than-expected and bolstered Wall Street's expectations for rate cuts in the months ahead. Here's a look at economists' reactions to <a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44275575/wall-street-rockets-as-february-inflation-cools-more-than-expected">the latest inflation data.&nbsp;&nbsp;</a>



What To Know: Headline inflation eased slightly to 2.8% year-over-year, and core CPI, which strips out food and energy prices, slowed to 3.1%. Following the inflation print, traders fully priced in three Federal Reserve rate cuts in 2025, according to the CME FedWatch Tool.



Read Next: <a href="https://www.benzinga.com/25/03/44277920/mortgage-applications-soar-as-rates-hit-lowest-level-since-october">Mortgage Applications Soar As Rates Hit Lowest Level Since October</a>



Expert Ideas: Bill Adams, chief economist for Comerica Bank, said that inflation is moving in the "right direction," making it more likely that the Fed will cut rates. Comerica forecasts a single 0.25% interest rate cut in 2025, likely occurring in July.



However, the Fed forecast is hazy given the uncertainty surrounding future Trump administration policies.&nbsp;



"The range of outcomes feels wider than usual given the unpredictability of the policies affecting prices and the job market," Adams said.&nbsp;



Chris Zaccarelli, chief investment officer for Northlight Asset Management, also highlighted the increased economic and geopolitical uncertainty and pointed to the lower rate of inflation, which allows the Fed to support a struggling economy with rate cuts if needed.



"If all of these policy changes lead to a weaker dollar, an increase in geopolitical uncertainty, and a loss of the exorbitant privilege of having the world&#8217;s reserve currency, then many of the lessons that investors have learned over the previous eight decades will need to be forgotten," Zaccarelli warned.&nbsp;



While markets were relieved with the cool inflation report on Wednesday, price increases following the pandemic have added up over the past five years. Charlie Bilello, chief market strategist for Creative Planning, featured a list on social media showing U.S. home prices up 52.3% and auto insurance 55.4% higher.



<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">Price Increases over last 5 years&#8230; CPI Medical Care: +12.3% CPI New Cars: +20.3% CPI Shelter: +26.6% CPI Food at home: +27.4% CPI Gasoline: +27.6% CPI Food away from home: +30.1% CPI Electricity: +32.7% CPI Used Cars: +35.1% CPI Transportation: +36.2% CPI Fuel Oil: +41.9% CPI…&mdash; Charlie Bilello (@charliebilello) <a href="https://twitter.com/charliebilello/status/1899809167025516658?ref_src=twsrc%5Etfw">March 12, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Market Reactions: U.S. markets were mixed in late morning trading with the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), tracking the S&amp;P 500, flat at $555.92 and the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), tracking the Nasdaq 100, up 0.47% at $473.81.&nbsp;



The benchmark 10-year yield rose slightly to 4.29%. The SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), tracking the price of gold, rose 0.17% to $269.61.&nbsp;



Read Next:



<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/02/44015237/pending-home-sales-crash-to-record-low-jobless-claims-soar-wall-street-reacts">Pending Home Sales Crash To Record Low, Jobless Claims Soar: Wall Street Reacts</a></li>
</ul>



Image: Shutterstock

Inflation Moves In The 'Right Direction' But Forecast Is Hazy, Economist Says

Canada announced Wednesday that it will impose 25% tariffs on over $20 billion worth of U.S. goods in retaliation for the Trump administration's new steel and aluminum duties, CNBC <a href="https://www.cnbc.com/2025/03/12/canada-tariffs-steel-aluminum-trump-computers.html">reported</a>. 



What To Know: Canadian Finance Minister Dominic LeBlanc confirmed that the tariffs will take effect Thursday and will target steel, aluminum, computers, sports equipment and cast iron products.



These new measures add to the 25% counter-tariffs Canada placed on $30 billion of U.S. goods earlier in March. Despite Trump issuing temporary exemptions on some tariffs after a market sell-off, Canada has opted to maintain its retaliatory stance. Meanwhile, the European Union also responded by announcing tariffs on <a href="https://www.benzinga.com/markets/equities/25/03/44269301/trumps-25-tariffs-on-steel-and-aluminum-imports-take-effect-eu-retaliates-us-steel-nucor-century-aluminum-and-other-domestic-stocks-cheer">$28 billion worth of U.S. goods</a> starting in April.



What Else: The financial and manufacturing sectors are <a href="https://www.benzinga.com/news/econ-s/25/03/44262286/tariff-uncertainty-poses-major-risk-to-us-automakers-how-much-could-ford-gm-earnings-fall">bracing for volatility</a>, as Trump&#8217;s tariff policies have already contributed to stock market declines and disrupted global supply chains. U.S. steel and aluminum producers may see short-term gains, but auto manufacturers and consumer goods companies could face higher costs.



Melanie Joly, Canada's foreign affairs minister, emphasized that the tariffs represent a broader defense of national interests, telling reporters, "Canadians have had enough."



While Trump argues that tariffs protect domestic industries and boost revenue, economists warn of rising consumer prices and <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/03/44245031/steels-hot-streak-faces-reality-check-analyst-weighs-tariffs-vs-recession-fears">economic instability</a>.



Among the sectors that will feel the impact of the U.S.&#8217;s tariff war with Canada is housing. Canada has been the top supplier of lumber used by home builders in the U.S. for many years.



The National Association of Home Builders (NAHB) recently reiterated its concern that the continued threat of tariffs will make it harder for builders and their customers to move ahead with new construction projects. 



&#8220;With the nation facing a housing affordability crisis, we continue to believe that critical construction materials should be exempt from any future tariffs. NAHB will continue to work with the administration to cut regulations, boost domestic lumber output and further rein in housing costs so that builders can construct more homes and apartments to meet our nation's housing needs,&#8221; the group <a href="https://www.nahb.org/news-and-economics/press-releases/2025/03/nahb-statement-on-tariff-pause-for-canada-and-mexico">wrote</a> last week. 



Read Now:



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<li><a href="https://www.benzinga.com/media/25/03/44274410/alibaba-chair-says-ai-total-addressable-market-is-10-trillion-expects-benefits-via-its-cloud-business" target="_blank" rel="noreferrer noopener">Alibaba Chair Says AI Total Addressable Market Is $10 Trillion, Expects Benefits Via Its Cloud Business</a></li>
</ul>



Image: Shutterstock

Canada 'Had Enough,' Claps Back At US With $20 Billion In Retaliatory Tariffs: Foreign Affairs Minister

The <a href="https://www.benzinga.com/topic/magnificent-seven">market&#8217;s biggest tech giants</a>, often referred to as the Magnificent Seven, collectively added over $250 billion in market capitalization during Wednesday morning trading. 



Investors piled back into high-growth stocks following the <a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44274165/inflation-cools-more-than-expected-in-february-strengthens-the-case-for-fed-rate-cuts">softer-than-expected inflation report. </a>



The elite tech group of stocks was in free fall just days ago, down more than 20% from their highs and officially entering a bear market. Since its December 2024 market cap peak of over $17 trillion, Magnificent Seven has shed $3.3 trillion value in recent weeks.



The question now: Is this a true turnaround, or just a temporary relief rally?



<h3 class="wp-block-heading">Investors Rush To Buy Magnificent 7 As Inflation Cools</h3>



The catalyst for the dramatic rebound was February's Consumer Price Index report, which showed inflation cooling faster than expected. 



Headline CPI eased to 2.8% year-over-year, down from 3%, and core CPI slipped from 3.2% to 3.1%, also below forecasts.



The outcome led markets to ramp up bets that the Federal Reserve may soon resume cutting interest rates. With inflation cooling, the CME FedWatch Tool shows traders fully pricing in three rate cuts by year-end.



That was enough to trigger a wave of dip-buying in the battered Magnificent Seven, a group that had entered a technical bear market earlier this week after the Roundhill Magnificent Seven ETF plunged 22% year-to-date.



<h3 class="wp-block-heading">Magnificent Seven Rebound: Nvidia, Tesla Rally</h3>



The total market capitalization change for the Magnificent Seven stocks by 10:30 a.m. ET Wednesday is $258 billion. 



Here's a breakdown with additional context on each company&#8217;s movements:



<ul>
<li>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) added $151.26 billion as its stock surged 5.7%. The semiconductor giant remains 25% below its record highs set in early January 2025. </li>



<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) followed with a $52 billion increase, up 7%. </li>



<li>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) increased $45.43 billion, climbing 3%.</li>



<li>Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) grew $23.33 billion, up 1.11%. </li>



<li>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGKL#NASDAQ">GOOGKL</a>) added $14.27 billion, rising 0.7%</li>



<li>Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) saw a modest $1.41 billion gain, edging 0.1% higher. </li>



<li>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) was the only major laggard, shedding $29.19 billion, dropping 0.9%,</li>
</ul>



Read Now: 



<ul>
<li><a href="https://www.benzinga.com/media/25/03/44274410/alibaba-chair-says-ai-total-addressable-market-is-10-trillion-expects-benefits-via-its-cloud-business">Alibaba Chair Says AI Total Addressable Market Is $10 Trillion, Expects Benefits Via Its Cloud Business</a></li>
</ul>



Image: Shutterstock

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Magnificent 7 Stocks Add $250 Billion In Value After Benign Inflation As Traders Rush To Buy Dips

President Donald Trump is set to nominate Federal Reserve Governor Michelle Bowman as the central bank's vice chair for supervision, according to a source familiar with the decision, Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-03-12/trump-to-announce-bowman-soon-as-nominee-for-fed-s-top-bank-cop?srnd=homepage-americas&amp;sref=TBDibEcD">reports</a>. The nomination could be announced as early as today, marking a significant shift in the Fed's regulatory leadership.



What To Know: This move comes after Michael Barr stepped down from the role earlier this year, citing concerns over a potential conflict with Trump.



Read Also: <a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44274165/inflation-cools-more-than-expected-in-february-strengthens-the-case-for-fed-rate-cuts">Inflation Cools More Than Expected In February, Strengthens The Case For Fed Rate Cuts</a>



In January, Barr stated that the risk of a dispute over the position could divert attention from the Fed's core mission. His departure created a vacancy in one of the most influential regulatory roles overseeing the financial sector.



What Else: Bowman has been a member of the Federal Reserve Board <a href="https://www.federalreservehistory.org/people/michelle-w-bowman">since 2018</a>, with a background in banking regulation and public service. Before joining the Fed, she served as Kansas' state banking commissioner, where she focused on policies affecting community banks. 



Bowman&#8217;s experience also includes roles in the financial sector and government, including a position in the George W. Bush administration. Bowman has been a <a href="https://www.federalreserve.gov/newsevents/speech/bowman20250227a.htm">vocal advocate</a> for reducing regulatory burdens on smaller banks, arguing that rules designed for large financial institutions can be overly restrictive for local lenders.



Read now:



<ul>
<li><a href="https://www.benzinga.com/25/03/44270128/us-recession-probability-escalates-to-35-amid-tariffs-pimco-sounds-alarm" target="_blank" rel="noreferrer noopener">US Recession Risk Surges To 35%, Pimco Cautions On Economic Fallout From Trump's Tariffs</a></li>
</ul>



Photo: Shutterstock

Federal Reserve

Trump To Nominate Fed's Michelle Bowman As Top Banking Regulator: Report

Stocks surged Wednesday morning, with major indices poised to snap a two-day losing streak, as cooler-than-expected inflation reinforced expectations for Federal Reserve <a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44274165/inflation-cools-more-than-expected-in-february-strengthens-the-case-for-fed-rate-cuts">rate cuts in 2025</a>.



Futures on major U.S. indices rebounded sharply, with the S&amp;P 500 climbing 1.1% by 9:00 a.m. ET, the Nasdaq 100 jumping 1.6%, and the Dow Jones Industrial Average rising 0.8%. 



Small caps, as tracked by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), were up 1.2%. 



<h2 class="wp-block-heading">Rate Cut Bets Gain Traction</h2>



The latest Consumer Price Index report showed inflation cooling more than anticipated in February. 



Headline CPI eased to 2.8% year-over-year, coming in below the 2.9% forecast, while core CPI, which strips out food and energy prices, slowed to 3.1%, below expectations of 3.2%



The data strengthened the case for monetary easing, pushing traders to fully price in three Federal Reserve rate cuts in 2025, according to the CME FedWatch Tool.



On the Kalshi event-prediction platform, three rate cuts also emerge as the most likely scenario for 2025. 



<iframe loading="lazy" src="https://kalshi.com/external-widgets/events/KXRATECUTCOUNT-25DEC31?color_scheme=light&#038;widget_size=medium&#038;variant=a&#038;ids=KXRATECUTCOUNT-25DEC31-T2&#038;ids=KXRATECUTCOUNT-25DEC31-T3&#038;ids=KXRATECUTCOUNT-25DEC31-T4" width="488px" height="196px" style="border:0"></iframe>



<h2 class="wp-block-heading">Commodities Surge, Bitcoin Nears $84,000</h2>



Commodity markets reacted strongly to the inflation data, with WTI crude oil climbing 1.6% and copper surging 2.7% to its highest level since May 2024. Silver also gained 1%, while natural gas tumbled 4.4%.



In the cryptocurrency space, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose 1.4% to approach $84,000, while altcoins saw notable gains—Cardano jumped 5% to $0.7590, and Solana advanced 3% to $129.



<h3 class="wp-block-heading">Top Market Movers</h3>



Nasdaq 100's top five premarket performers:



<ol start="1">
<li>AppLovin Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) up 11.69%</li>



<li>Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) up 6.76%</li>



<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) up 5.62%</li>



<li>Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) up 5.61%</li>



<li>Marvell Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) up 4.64%</li>
</ol>



S&amp;P 500's top five premarket performers:



<ol start="1">
<li>Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) up 8.34%</li>



<li>Palantir Technologies Inc. up 6.78%</li>



<li>Intel Corp. up 5.64%</li>



<li>Tesla Inc. up 5.57%</li>



<li>The Cooper Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COO#NYSE">COO</a>) up 5.52%</li>
</ol>



Dow Jones' top five premarket performers:



<ol start="1">
<li>NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) up 4.51%</li>



<li>Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) up 2.24%</li>



<li>The Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) up 2.08%</li>



<li>Salesforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) up 2.04%</li>



<li>JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) up 1.75%</li>
</ol>



Read now: 



<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/03/44269301/trumps-25-tariffs-on-steel-and-aluminum-imports-take-effect-eu-retaliates-us-steel-nucor-century-aluminum-and-other-domestic-stocks-cheer">Trump&#8217;s 25% Tariffs On Steel And Aluminum Imports Take Effect, EU Retaliates: US Steel, Nucor, Century Aluminum And Other Domestic Stocks Cheer</a></li>
</ul>



Photo: Shutterstock

Macro Economic Events

Broad U.S. Equity ETFs

Commodities

Economics

INTC

MRVL

PLTR

SMCI

Wall Street Rockets As February Inflation Cools More Than Expected

On Wednesday, Alibaba Group Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) Chairman Joe Tsai voiced the possibility of <a target="_blank" href="https://www.benzinga.com/topic/alibaba" rel="noreferrer noopener">artificial intelligence eliminating</a> the need for equity research analysts while charting a Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) or Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) report <a target="_blank" href="https://www.cnbc.com/2025/03/12/alibabas-tsai-on-ai-research-analysts-can-be-completely-replaced.html" rel="noreferrer noopener">at</a> CNBC&#8217;s&nbsp;CONVERGE LIVE&nbsp;event in Singapore.&nbsp;



Tsai told CNBC that AI could enhance the quality of work by taking care of tedious research-related tasks, enabling better recommendations from human minds instead of eliminating the analyst roles.



Tsai also said he expects AI to fundamentally change the practice of law. He expects AI to efficiently chart out a contract, enhancing lawyer judgment instead of eliminating it.



Also Read: <a target="_blank" href="https://www.benzinga.com/25/03/44254562/deepseek-stays-free-founder-rejects-monetization-plans-new-reasoning-model-amid-alibaba-talks" rel="noreferrer noopener">DeepSeek Wants To Stay Free As Of Now, Founder Rejects Monetization</a>



He told CNBC that AI&#8217;s total addressable market is at least $10 trillion, making it bigger than industries like transportation and healthcare insurance.



Tsai expects Alibaba to benefit from this upsurge of AI thanks to its cloud computing business.



Tsai told CNBC that Alibaba could also benefit significantly from AI within its own business.



<a target="_blank" href="https://www.benzinga.com/markets/emerging-markets/25/03/44229408/alibaba-unveils-new-ai-chip-to-power-chinas-open-source-tech-push-challenge-us-chip-giants" rel="noreferrer noopener">Recent reports indicated</a> Alibaba&#8217;s XuanTie C930 processor&#8217;s potential to broaden domestic use of open-source chips built on the&nbsp;RISC-V instruction set architecture. The new XuanTie processors designed for AI acceleration, automotive applications, and high-speed interconnection will ship to clients in March.



Last week, Alibaba also launched a&nbsp;new reasoning model&nbsp;comparable to DeepSeek&#8217;s R1.



Alibaba was among the first major global tech companies to&nbsp;open-source its large-scale AI models. Over the next three years, Alibaba&nbsp;committed $53 billion&nbsp;to&nbsp;cloud and AI infrastructure.



<h2 class="wp-block-heading">Alibaba Stock Prediction For 2025</h2>



Equity research analysts on and off Wall Street typically use earnings growth and fundamental research as a form of valuation and forecasting. But many in trading turn to technical analysis as a way to form predictive models for share price trajectory.



Some investors look to trends to help forecast where they believe a stock could trade at a certain point in the future. Looking at Alibaba, an investor could make an assessment about a stock's long term prospects using a moving average and trend line. If they believe a stock will remain above the moving average, which many believe is a bullish signal, they can extrapolate that trend into the future using a trend line. For Alibaba Gr Hldgs, the 200-day moving average sits at $91.41, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, which is below the current price of $139.02. For more on charts and trend lines, <a href="https://pro.benzinga.com/">see a description here.</a>



Traders believe that when a stock is above its moving average, it is a generally bullish signal, and when it crosses below, it is a more negative signal. Investors could use trend lines to make an educated guess about where a stock could trade at a later date if conditions remain stable.



Price Action: BABA stock is down 0.35% at $138.54 premarket at last check Wednesday.



Also Read:



<ul>
<li><a href="https://www.benzinga.com/markets/eurozone/25/03/44253751/asml-boosts-ai-chip-rd-in-europe-amid-us-sanctions-china-slowdown-and-subsidy-uncertainty" target="_blank" rel="noreferrer noopener">ASML Boosts AI Chip R&amp;D In Europe Amid US Sanctions, China Slowdown, And Subsidy Uncertainty</a></li>
</ul>



Photo by Ascannio via Shutterstock

BABA

Alibaba Chair Says AI Total Addressable Market Is $10 Trillion, Expects  Benefits Via Its Cloud Business

The&nbsp;25% tariffs on steel and&nbsp;aluminum imports imposed by U.S. President&nbsp;Donald Trump&nbsp;have now taken effect, triggering a swift retaliation from the European Union.



What Happened: The tariffs were enforced on Wednesday, impacting several countries including Canada, Australia, and the EU. The White House issued confirmation about the duties late Tuesday but also revealed that Trump had abandoned plans to increase tariffs on Canadian metals to 50%, <a href="https://www.cnbc.com/2025/03/12/trumps-25percent-tariffs-on-steel-and-aluminum-imports-take-effect.html">reported</a> CNBC.



In response, the European Union announced counter-tariffs on $28.33 billion&nbsp;worth of U.S. goods beginning in April. The European Commission stated that these measures aim&nbsp;to &#8220;protect European businesses, workers&nbsp;and consumers from the impact&nbsp;of these unjustified trade restrictions.&#8221;



Meanwhile, Australian Prime Minister&nbsp;Anthony Albanese&nbsp;criticized Trump&#8217;s move as &#8220;entirely unjustified,&#8221; adding that Australia will refrain from imposing reciprocal tariffs on U.S. imports to prevent price inflation for Australian consumers.



SEE ALSO: <a href="https://www.benzinga.com/trading-ideas/movers/25/03/44268979/melania-trumps-official-memecoin-worth-over-13-billion-barely-two-months-ago-is-now-valued-at-367-million">Melania Trump&#8217;s Official Memecoin, Worth Over $13 Billion Barely Two Months Ago, Is Now Valued At $367 Million</a>



Why It Matters: This development marks another chapter in the ongoing trade war, characterized by Trump&#8217;s bold tariff promises and subsequent reversals. The trade tensions have recently rattled markets, amid intensifying concerns that the tariffs could edge the world&#8217;s largest economy towards a recession.



Furthermore, Trump&#8217;s decision to <a href="https://www.benzinga.com/25/03/44267277/trump-scraps-50-tariff-hike-on-canadian-steel-aluminum-after-ontario-backs-down">scrap plans to hike </a>tariffs on Canadian metals to 50% came after Ontario paused&nbsp;a 25% tax on electricity&nbsp;exports to the U.S. This indicates a complex and rapidly evolving situation, with decisions being made and reversed in quick succession, adding to the uncertainty in global markets.



That being said, some of the domestic industry bodies hail the President&#8217;s move. American Iron and Steel Institute (AISI), representing U.S. steelmakers, supported the tariffs, stating they would generate jobs and strengthen domestic steel production, reported BBC. Furthermore, Jesse Gary, the CEO of Century Aluminum told the New York Times, "The new tariffs will close those loopholes back up and enable us to begin investing again, and bring on more production here in the U.S."



On the flipside, Bill Reinsch, a former Commerce Department official told BBC, &#8220;It protects [the steel and aluminium] industries but hurts downstream users of their products by making them more expensive.&#8221; 



The shares of domestic steelmakers, United States Steel Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) and Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) climbed more than 13% year to date, as per<a href="http://pro.benzinga.com"> Benzinga Pro.</a> Meanwhile, Aluminum stocks Alcoa Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) and Century Aluminum Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CENX#NASDAQ">CENX</a>) closed the last session with gains of 3% and 9%, respectively.



<ul>
<li>READ MORE: <a href="https://www.benzinga.com/25/03/44268596/trumps-net-worth-plummets-by-nearly-300m-as-djt-stock-drops-to-its-lowest-since-october">Trump&#8217;s Net Worth Plummets By Nearly $300M As DJT Stock Drops To Its Lowest Since October</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.

CENX

Trump's 25% Tariffs On Steel And Aluminum Imports Take Effect, EU Retaliates: US Steel, Nucor, Century Aluminum And Other Domestic Stocks Cheer

Inflation eased in February, coming in lower than expected and reinforcing the Federal Reserve's path <a href="https://www.benzinga.com/topic/interest-rates">toward interest rate cuts.</a>



The headline Consumer Price Index fell from 3.0% year-over-year in January to 2.8% in February, according to a Bureau of Labor Statistics report released Wednesday. The reading was below economist expectations of 2.9%, as tracked by TradingEconomics, and marked the first decline after four straight months of rising price pressures.



On a monthly basis, CPI increased 0.2% in February, sharply moderating from 0.5% in January and below forecasts of 0.3%.



Core inflation, which excludes food and energy prices, slowed to 3.1% year-over-year, down from 3.3% in January and below forecasts of 3.2%. The monthly increase in core CPI was 0.2%, a cooldown from January's 0.4% pace and below estimates of 0.3%.



The shelter index climbed 0.3% in February, contributing nearly half of the overall monthly CPI increase. This rise was partially counterbalanced by a 4.0% drop in airline fares and a 1.0% decline in gasoline prices. 



Other categories that saw price increases included medical care, used cars and trucks, household furnishings and operations, recreation, apparel, and personal care. Among the few major indexes that declined in February were airline fares and new vehicles.



<h3 class="wp-block-heading">Fed's Outlook: A Step Closer To Rate Cuts</h3>



The softer-than-expected inflation data strengthens the argument for Federal Reserve rate cuts in 2025, as policymakers seek to balance economic risks.



U.S. economic growth is projected to slow sharply in the first quarter, with several investment banks revising GDP forecasts downward. The Atlanta Fed's GDPNow model estimates a potential 2.4% contraction, raising concerns about economic weakness.



With inflation easing and growth concerns mounting, the Fed may find more room to cut rates to support the economy. 



Prior to the report, money markets tracking Fed futures had priced in three to four rate cuts by year-end, according to the CME FedWatch Tool. The latest inflation data could further solidify that outlook.



<h3 class="wp-block-heading">Market Reactions</h3>



<ul>
<li>U.S. dollar: The dollar softened following the inflation report, with the U.S. dollar index, tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), slipping 0.1% as traders priced in a higher likelihood of rate cuts. </li>



<li>Treasury yields: The 10-year U.S. Treasury yield edged lower by 2 basis points to 4.26%.</li>



<li>Stock market: U.S. equity futures turned higher, with S&amp;P 500 futures up 1.4% in premarket trading at 8:35 a.m. ET. On Tuesday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) closed at $555.92, its lowest level in seven months and 3% below its 200-day moving average. Contracts on the tech-heavy Nasdaq 100 were 1.6% higher. </li>
</ul>



Read now: 



<ul>
<li><a href="https://www.benzinga.com/25/03/44270128/us-recession-probability-escalates-to-35-amid-tariffs-pimco-sounds-alarm">US Recession Risk Surges To 35%, Pimco Cautions On Economic Fallout From Trump&#8217;s Tariffs</a></li>
</ul>



Photo: Janews/Shutterstock

Inflation Cools More Than Expected In February, Strengthens The Case For Fed Rate Cuts

The chairperson of Alibaba Group Holding ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), Joseph Tsai acknowledged that everyone around the world is concerned about the ongoing tariff battle between the economic powerhouses of the world.



What Happened: While speaking at CNBC&#8217;s event Converge Live, in Singapore, Tsai responded to a question on tariff imposition by the Donald Trump administration and said that &#8220;Everyone is concerned about tariffs.&#8221;



He highlighted that the Chinese multinational technology company sells $50 billion worth of American products on its platform to Chinese consumers every year. On the other hand, about $30 billion worth of European products are also sold annually.



"I think the Trump administration will want to have more American companies doing business in China and making money there," he said, adding that it was ultimately between the global leaders to meet and decide on the future course of these protectionist policies.



Furthermore, he suggested if Trump&#8217;s wider tariff approach was just a bargaining chip, there was still a likelihood of seeing specific tariffs on Chinese electric vehicles. Tsai added that it could be a move to safeguard the American auto industry from potential competition.



See Also: <a href="https://www.benzinga.com/25/03/44269729/debt-over-equity-billionaire-howard-marks-endorses-credit-investments-amid-shifting-investor-focus-and-market-correction">Billionaire Howard Marks Prefers Credit Over Equity Amid Falling Market: &#8216;Yields Implies Higher Returns From Credit Than The S&amp;P 500&#8217;</a>



Why It Matters: On Tuesday afternoon, President Trump unexpectedly reversed his decision to double tariffs on Canadian steel and aluminum to 50%, just hours after announcing the increase. The abrupt policy change, which rattled financial markets, followed Canada&#8217;s withdrawal of plans for a 25% surcharge on electricity.



Additionally, as Trump&#8217;s tariffs on steel and aluminum imports go into effect, the European Union announced on Wednesday that it will retaliate by imposing levies of 26 billion euros or $28.33 billion on U.S. goods beginning in April.



Price Action: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose in premarket on Wednesday. The SPY was up 0.73% to $560.00, and the QQQ also advanced 0.83% to $475.51, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/03/44245897/billionaire-investor-ron-baron-reacts-to-nasdaq-sp-selloff-the-stock-prices-cant-believe-how-cheap-they-are" target="_blank" rel="noreferrer noopener">Billionaire Investor Ron Baron Reacts To Nasdaq, S&amp;P Selloff: ‘The Stock Prices…Can't Believe How Cheap They Are'</a></li>
</ul>



Photo courtesy: Shutterstock

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Alibaba's Joseph Tsai Says 'Everyone Is Concerned About Tariffs,' As He Expects Levies On Chinese EVs

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