Wall Street climbed to fresh record highs after the Federal Reserve delivered its first interest rate cut in nine months — hinting that more reductions could <a href="https://www.benzinga.com/markets/economic-data/25/09/47723450/federal-reserve-interest-rate-decision-september-2025-dot-plot-economic-projections">be on the way.</a>



<ul class="wp-block-list">
<li>VOO ETF has set new all-time highs this week. <a href="https://www.benzinga.com/quote/VOO">Check live chart here. </a></li>
</ul>



On Thursday, the S&amp;P 500, Nasdaq 100, Dow Jones and <a href="https://www.benzinga.com/markets/small-cap/25/09/47749376/russell-2000-hits-all-time-highs-8-stocks-power-small-cap-comeback">small-cap Russell 2000</a> all closed at all-time highs as investors celebrated the Fed's move.



<h2 class="wp-block-heading">Fed Rate Cuts</h2>



At its September meeting, the central bank lowered rates by 25 basis points to a target range of 4%–4.25%, in line with expectations, as policymakers shifted their focus toward a cooling labor market.



The decision wasn't unanimous: Fed Gov. Stephen Miran — appointed by President Donald Trump to replace Adriana Kugler, who resigned last month — argued for a deeper 50-basis-point cut.



Fed Chair Jerome Powell called the move a "risk management cut," stressing that the Fed acted preemptively to avoid a sharper labor market slowdown. He also played down inflationary pressures from tariffs, describing them as a temporary, one-off factor in the <a href="https://www.benzinga.com/markets/economic-data/25/09/47726901/tech-stocks-reactions-fed-jerome-powell-speech-interest-rates">Fed's baseline outlook.</a>



&#8220;A reasonable base case is that the [tariff] effects on inflation will be relatively short-lived,&#8221; Powell said.



The Fed's updated projections raised both growth and inflation estimates. Yet its rate forecast painted a more aggressive cutting path: two more reductions by the end of 2025, followed by one each in 2026 and 2027.



<h2 class="wp-block-heading">How Will Rate Cuts Impact Homebuyers?</h2>



Rate-sensitive sectors are already showing signs of revival. Mortgage demand spiked ahead of the Fed's decision, with homebuyers rushing to refinance. 



In the week ending Sept. 12, total mortgage applications surged 29.7% from the prior week, while refinancing activity jumped 57.7% — the highest level since March 2022, according to <a href="https://www.benzinga.com/markets/economic-data/25/09/47738832/mortgage-interest-rates-federal-reserve-refinancing-real-estate-stocks">the Mortgage Bankers Association.</a>



<h2 class="wp-block-heading">Intel&#8217;s Surge</h2>



Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) was the standout stock of the week. Shares jumped 23% on Thursday after NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDIA#NASDAQ">NVDIA</a>) revealed a $5 billion investment in Intel common stock at $23.28 per share, giving it roughly a 5% stake. The investment is part of a broader partnership to co-develop multiple generations of custom chips for data centers and PCs.



<h2 class="wp-block-heading">Ford Slumps, Auto Recall</h2>



Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), meanwhile, posted its third straight weekly loss. The automaker recalled 101,944 U.S. vehicles after regulators warned that faulty door trim could detach while driving, posing a crash risk, according to the National Highway Traffic Safety Administration.



Read Now:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/09/47763558/nvidia-intel-deal-implications-amd-arm-synopsis-analysts">Nvidia And Intel Just Changed The AI Game—And The Pressure on AMD And ARM Is Rising</a></li>
</ul>



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Wall Street Tops Record Highs As Fed Cuts Rates, Signals More Ahead: This Week In Markets

Shares of Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) soared 28% on Thursday—notching their best session ever—after Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) announced it would pour $5 billion into the rival chipmaker.



The agreement signaled a Wall Street shake-up that observers say will <a href="https://www.benzinga.com/topic/chipmakers">reshape the semiconductor world. </a>



<h3 class="wp-block-heading">What Happened: Nvidia And Intel Are Joining Forces</h3>



Nvidia revealed a $5 billion investment in Intel common stock at $23.28 per share, giving it around a 5% ownership stake. 



The deal, however, goes far beyond equity—it's about co-developing multiple generations of custom chips.



For data centers, Intel will build custom x86 CPUs integrated into Nvidia's AI infrastructure platforms. 



On the PC side, Intel plans to launch new x86 RTX SoCs—system-on-chips combining Intel CPUs with Nvidia RTX GPU chiplets—targeting the massive 150 million-unit laptop market.



Although the investment is pending regulatory approval, analysts believe this marks a pivotal turning point in AI system architecture.



<h3 class="wp-block-heading">Goldman Sachs: AMD And ARM Under Pressure</h3>



 Goldman Sachs analyst James Schneider called the Nvidia-Intel collaboration a net negative for both Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) and Arm Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>), noting that the partnership could shift enterprise AI and PC dynamics in favor of the two tech giants.



Schneider said this custom chip initiative will likely "weaken AMD's enterprise server CPU position on the margin" and slow its pace of desktop share gains. 



On ARM, he said the move could "dampen investor sentiment on ARM's rate of datacenter market share gain." 



Goldman Sachs also highlighted Synopsys Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>) as a key beneficiary of the Nvidia-Intel collaboration, tying it to a rebound in confidence surrounding one of its largest customers—Intel Corp.



"We view this announcement as a positive for Synopsys, as it should help restore confidence in the health of a key customer (Intel) following the company&#8217;s muted FY26 IP guidance (driven in part by Intel)."



<h3 class="wp-block-heading">22V Research: This Is About Infrastructure, Not Hype</h3>



Jordi Visser, analyst at 22V Research, said the Nvidia-Intel tie-up was the logical next step after Oracle Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NASDAQ">ORCL</a>)'s blockbuster earnings earlier this month, which he called "the first real proof that AI demand is outstripping supply."



Visser argued the market is underestimating the implications of inference—running AI models in real time—as the next driver of infrastructure demand. 



"This wasn't about future hype," Visser said. "It was about businesses already committing billions of dollars to use AI every day."



By integrating Intel's x86 CPUs into its AI systems, Nvidia is scaling its proprietary NVLink interconnect protocol to an architecture that has long dominated enterprise and cloud computing. "AI is now infrastructure," Visser added. "And this infrastructure, just like the internet or electricity, needs factories."



He also highlighted the shift toward "physical AI"—embedding intelligence into robots, autonomous machines, and industrial systems—as the next frontier. 



The implication? This collaboration is not just about servers and chips. It's about equipping machines to reason and act in the real world.



<h3 class="wp-block-heading">Bank of America: A $25B To $50B Market Opportunity</h3>



Bank of America's semiconductor team, led by analyst Vivek Arya, called the deal a "historic collaboration" with long-term revenue potential between $25 billion and $50 billion per year. The analysts said the partnership benefits both Intel and Nvidia—but with caveats.



For Intel, the deal validates its x86 CPU technology and significantly increases exposure to the booming enterprise AI market. However, Bank of America flagged ongoing concerns around the lack of foundry customers on Intel's cutting-edge nodes like 18A and 14A.



For Nvidia, the benefit is clear: increased scale-up capabilities for enterprise customers using x86 CPUs, deeper integration of its NVLink protocol, and improved access to customers beyond the ARM ecosystem. 



Importantly, the collaboration keeps Nvidia's foundry options open, allowing it to scale without relying on Intel manufacturing.



While the announcement included no commitment to Intel Foundry Services, Bank of America noted that the expanded Nvidia-Intel ecosystem could be a headwind for PCIe and UALink suppliers, as NVLink gains adoption.



Now Read:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/small-cap/25/09/47749376/russell-2000-hits-all-time-highs-8-stocks-power-small-cap-comeback">Russell 2000 Hits All-Time Highs: 8 Stocks Power Small-Cap Comeback</a></li>
</ul>



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Nvidia And Intel Just Changed The AI Game—And The Pressure on AMD And ARM Is Rising

There&#8217;s a massive shift in the markets heading our way, one you may not have noticed.



See, markets often rally in the summer. That&#8217;s not unusual. But when that rally sticks around into September &#8211; usually the worst month of the year for stocks &#8211; it&#8217;s time to pay attention.



And especially when stocks and bonds both rally at the same time.



Right now, I&#8217;m seeing four specific ETFs moving in the same direction, a pattern that tells me the end of the year is shaping up to be very bullish &#8211; especially for these ETFs.



<h2 class="wp-block-heading">5 Breakout Stocks. Every Friday. Before The Crowd Knows</h2>



The Whisper Index uncovers stocks on the verge of major moves—before the mainstream catches on. It's how we spotted Insmed, Sprouts, and Uber before their 20%+ gains. This week's new picks drop Friday—will you see them first or hear about them later? <a href="https://www.benzinga.com/premium/ideas/benzinga-edge/?">Get My Edge</a>



Let's start with SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), the ETF that tracks the S&amp;P 500.



Over the summer, we saw a powerful move from just under 600 in late May to around 660 by mid-September. That's a clean 10% run, and more importantly, it happened during a stretch that's historically known for low volume and choppy price action.



That matters because summer rallies tend to be fragile. But when they hold into September, they often lead to a strong fourth quarter.



We've seen this movie before, and with SPY now consolidating above its June breakout level, the market could be setting up for an October treat for investors and traders alike.&nbsp;



And here's where it gets even more interesting.



iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>), the ETF that tracks long-term Treasury bonds, is rallying too. Over the past few weeks, it has risen from the mid-80s to above 90.



Normally, when stocks rise, bonds fall — and vice versa. But right now, we're seeing both move higher at the same time.



That&#8217;s because the market has been sniffing out something important: a federal interest rate cut. We've already seen signs of weakening labor data and downward revisions in economic reports. And on Wednesday, the Fed cut rates by one-quarter point for the first time since December 2024.



This is a rare alignment, and one that could bring lots of opportunities as we move toward the end of the year.



Now let's talk about energy — specifically, oil.



<h2 class="wp-block-heading">The $72 Level On Oil Could Be A Trigger</h2>



United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), the oil ETF, spent the summer in a wide chop zone between the mid-70s and mid-80s. But as we've moved into September, that range has tightened. And right now, $72 is the level I'm watching. Specifically, if USO breaks below $72, it opens the door to a fast slide into the high 60s.



What's important here isn't just the price action — it's the context.



Seasonally, oil tends to weaken after July. And with energy no longer leading headlines (despite escalating global tensions), a breakdown here could drag related stocks lower and create opportunities for put trades.



This is one of those trades where the trigger is clear — and the follow-through could be quick.



Let's move on to gold.



<h2 class="wp-block-heading">Gold Just Quietly Hit Inflation-Adjusted All-Time Highs</h2>



SPDR Gold Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), the gold ETF, has climbed more than 10% since summer began. That alone is notable. But what's important is that, adjusted for inflation, gold has now hit a new all-time high.



What&#8217;s even more interesting is that there's been almost no retail euphoria. Zero. Zilch. No ad blitzes, no gold-rush headlines, no mainstream FOMO.



That lack of hype is bullish. And it tells me that smart money is still rotating into gold as a safe haven, especially with real yields beginning to decline.



And now that the Fed has cut rates, gold could move even higher — especially if the dollar rolls over.



Last but definitely not least, let's talk about big tech.



<h2 class="wp-block-heading">Tesla And The &#8216;Mag 7&#8217; Are Pointing To A Supercycle</h2>



Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) jumped big on the news of a $1 billion insider buy from Elon Musk. And Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) became the fourth company to cross the $3 trillion market cap.



All of this is captured in the Roundhill Magnificent Seven ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#BATS">MAGS</a>), which tracks the Magnificent 7. That ETF is now up 20% since June.



These moves are more than just headlines. They show that mega-cap tech is still leading, and that money continues to flow into stocks that dominate cloud, AI, and digital infrastructure.



All this leads back to what I believe will be one of the strongest fourth quarters we've ever seen &#8211; especially for these four ETFs.



Editorial content from our expert contributors is intended to be information for the general public and not individualized investment advice. Editors/contributors are presenting their individual opinions and strategies, which are neither expressly nor impliedly approved or endorsed by Benzinga. 



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4 ETFs To Buy For A Strong Q4 - And 1 To Avoid

Wall Street kept driving equity valuations higher on Friday, extending the momentum from Thursday when all major U.S. benchmarks closed at record highs following the <a href="https://www.benzinga.com/markets/economic-data/25/09/47741120/federal-reserve-policy-outlook-goldman-sachs-sees-more-rate-cuts-coming">Federal Reserve's rate cut.</a>



Tech continued to outperform, fueled by ongoing AI enthusiasm. The Nasdaq 100, S&amp;P 500, and Dow Jones each advanced 0.5%, 0.3%, and 0.2%, respectively, setting fresh peaks. The Russell 2000, however—after breaking its November 2024 high the previous day—slipped 0.4%. 



President Donald Trump said he had a "very productive" call with Chinese President Xi Jinping, adding he plans to visit China early next year, with Xi expected to make a reciprocal trip to the U.S. at a later date.



Among mega-cap movers, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) jumped 3.1% on strong demand for the new iPhone 17. In China, preorders topped those of the iPhone 16 in just one minute. Apple shares climbed above $245, reaching their highest level since late February 2025.



Intel Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NYSE">INTC</a>) slipped 2.5% after soaring 23% on Thursday, when Nvidia announced a $5 billion deal to buy a 5% <a href="https://www.benzinga.com/markets/tech/25/09/47763558/nvidia-intel-deal-implications-amd-arm-synopsis-analysts">stake in the company.</a>



Precious metals regained momentum on rate-cut expectations. Gold rose 0.7% to $3,670, while silver rallied more than 2% to $42.67—its fifth straight monthly gain.



Cryptocurrencies reversed Thursday's blowout surge. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 1% to around $116,000, and Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) tumbled 4.5%.



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



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Major Indices </td><td>Price</td><td>1-day %chg</td></tr><tr><td>• Nasdaq 100</td><td>24,575.53</td><td>0.5%</td></tr><tr><td>• S&amp;P 500</td><td>6,653.73</td><td>0.3%</td></tr><tr><td>• Dow Jones</td><td>46,254.56</td><td>0.2%</td></tr><tr><td>• Russell 2000</td><td>2,451.19</td><td>-0.7%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 1:10 p.m. ET</figcaption></figure>



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



<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) rose 0.3% to $610.62.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) inched 0.1% higher to $462.34.</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>)&nbsp;rose 0.5% to $598.19.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) slipped to $243.41.</li>



<li>The&nbsp;Technology &nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up 0.7%; the&nbsp;Energy&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 1.4%.</li>
</ul>



<h2 class="wp-block-heading">S&amp;P 500&#8217;s Top 5 Movers</h2>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Stock name </th><th>% change</th></tr></thead><tbody><tr><td>Eversource Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ES#NYSE">ES</a>)</td><td>+5.69%</td></tr><tr><td>Paramount Skydance (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>)</td><td>+5.15%</td></tr><tr><td>Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>)</td><td>+4.20%</td></tr><tr><td>Uber Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>)</td><td>+3.99%</td></tr><tr><td>Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>)</td><td>+3.74%</td></tr></tbody></table></figure>



<h2 class="wp-block-heading">S&amp;P 500&#8217;s Top 5 Losers</h2>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Stock name </th><th>% change</th></tr></thead><tbody><tr><td>DexCom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXCM#NASDAQ">DXCM</a>)</td><td>-9.85%</td></tr><tr><td>Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>)</td><td>-5.10%</td></tr><tr><td>Dollar General Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>)</td><td>-4.51%</td></tr><tr><td>Hologic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLX#NASDAQ">HOLX</a>)</td><td>-4.12%</td></tr><tr><td>Texas Pacific Land Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPL#NYSE">TPL</a>)</td><td>-3.93%</td></tr></tbody></table></figure>



Read Next:



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<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/09/47767239/boeings-recovery-accelerates-as-key-aircraft-deliveries-surge">Boeing&#8217;s Recovery Accelerates As Key Aircraft Deliveries Surge</a></li>
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Wall Street Extends Gains, Apple Jumps To Highest Since February: What's Moving Markets Friday?

Future Fund LLC's managing director, Gary Black, thinks Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) should use its excess cash to buy back the EV giant's shares from shareholders.



<h2 class="wp-block-heading">Buy Back More Stocks Rather Than Build Excess Cash</h2>



Taking to the social media platform X on Friday, the investor said that Tesla needed to use the "$37 billion in excess cash" to purchase stock back, &#8220;rather than&nbsp;let it build up as more excess cash." He added that institutions would prefer Tesla to do the latter.



Black also said that institutional investors underown Tesla because the stock looks more expensive when compared to their estimates of its value. "Valuation is why TSLA remains under owned &#8211; not because of its high volatility," he said.



He also drew a comparison of Tesla's stock with that of Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), reiterating that the company's valuation relative to its share price remains the reason why institutions shy away from the stock.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I agree with <a href="https://twitter.com/bradsferguson?ref_src=twsrc%5Etfw">@bradsferguson</a> that <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> should use its $37 billion in excess cash to buy back stock rather than let it build up as more excess cash. Those who say TSLA should re-invest its cash organically (robotaxi, humanoid robots) are also correct, but that's irrelevant since… <a href="https://t.co/rHJy0rCUk6">pic.twitter.com/rHJy0rCUk6</a>&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1968976187926925696?ref_src=twsrc%5Etfw">September 19, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">Gary Black Says TSLA Will Decline In Q4</h2>



The comments come as the investor had earlier said that Tesla's stock would surge over <a href="https://www.benzinga.com/markets/tech/25/09/47565253/gary-black-predicts-teslas-q3-deliveries-would-beat-estimates-by-10-15-questions-affordable-ev-plans-amid-robotics-autonomous-push">strong Q3 deliveries</a>, which would beat analyst estimates. However, he reiterated its price would then <a href="https://www.benzinga.com/markets/tech/25/09/47755468/gary-black-says-tesla-stock-will-go-higher-predicts-decline-in-q4-we-expect-tsla">decline in the fourth quarter</a> as "the new more affordable model falls short of expectations," he said.



<h2 class="wp-block-heading">Ross Gerber Says Tesla Surge Temporary Amid Elon Musk's $1 Billion Purchase</h2>



Elsewhere, Gerber Kawasaki&#8216;s co-founder, Ross Gerber, also predicted the decline of Tesla's stock, saying that the "good news" might not last as long and could end in two weeks, followed by a "long winter," possibly hinting at uncertainty over Q4 deliveries due to a lack of <a href="https://www.benzinga.com/markets/tech/25/08/47302788/heres-how-you-can-avail-7500-federal-ev-credit-even-after-trumps-september-30-deadline">incentives on EVs</a> that would cause a price surge.



However, Tesla's stock rallied in the first place after an SEC filing showcased CEO Elon Musk buying over <a href="https://www.benzinga.com/markets/buybacks/25/09/47683593/amid-elon-musks-1-billion-stock-buy-here-are-teslas-5-biggest-market-open-insider-purchases-since-it-went-public">$1 billion in Tesla's shares</a>, which led to the stock smashing the $420 mark.



Musk has also more or less recovered all of his lost wealth since he extended support to President Donald Trump last year, which led to widespread criticism and <a href="https://www.benzinga.com/markets/tech/25/09/47562891/teslas-us-ev-market-share-dips-below-40-for-first-time-since-2017">a severe decline</a> in Tesla's sales.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="199" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/09/19075350/TSLA-SEP-19-2025-2-1024x199.jpg" alt="" class="wp-image-1078579" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/09/19075350/TSLA-SEP-19-2025-2-1024x199.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/09/19075350/TSLA-SEP-19-2025-2-300x58.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/09/19075350/TSLA-SEP-19-2025-2-768x149.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/09/19075350/TSLA-SEP-19-2025-2-1536x298.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/09/19075350/TSLA-SEP-19-2025-2.jpg 1545w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



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



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



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Image Via Imagn

Markets

Tesla Should Boost Buybacks With Excess Cash, Says Gary Black: 'Valuation Is Why Tesla Remains Under Owned'

The U.S. Securities and Exchange Commission (SEC) is considering a rule change in response to President&nbsp;Donald Trump&#8217;s&nbsp;suggestion to replace quarterly earnings reports with semiannual ones.



<h2 class="wp-block-heading">Firms Have An Option To Pick Semiannual Or Quarterly Reporting</h2>



SEC Chairman Paul Atkins revealed the potential rule change on <a href="https://www.cnbc.com/2025/09/19/sec-to-propose-rule-change-on-trumps-call-to-end-quarterly-earnings-reporting-says-chair-atkins.html">CNBC&#8217;s</a> &#8220;Squawk Box&#8221; on Friday. Atkins stated that the proposal aligns with Trump&#8217;s vision and could be beneficial for shareholders and public companies.



Atkins, a Republican, emphasized that the current rules, which mandate quarterly reporting, could be altered by a simple majority vote.&nbsp;Notably, Republicans have a 3–1 majority in the body, while one seat remains vacant.



He pointed out that foreign private issuers are already required to follow semiannual reporting. &#8220;You&nbsp;have to realize that right&nbsp;now, semi-annual reporting is no&nbsp;stranger to our markets, foreign&nbsp;private issuers do it right&nbsp;now,&#8221; Atkins said. 



He also spoke about the ongoing discussions about how quarterly reporting tends to encourage short-term thinking.



Atkins said that if the rule change is approved, companies could choose between semiannual and quarterly reporting.



See Also:&nbsp;<a href="https://benzinga.com/news/topics/25/09/47754385/against-the-principles-of-the-fourth-amendment-80000-ai-cameras-track-americans-daily-as-ceo-claims-h" target="_blank" rel="noreferrer noopener">&#8216;Against The Principles Of The Fourth Amendment&#8217; 80,000 AI Cameras Track Americans Daily As CEO Claims He Can Eliminate All Crime In 10 Years</a>



<h2 class="wp-block-heading">SEC Likely To Shift To Semiannual Corporate Reporting By 2027</h2>



Trump has been advocating for this change, and it is gaining momentum. Despite potential resistance from some investors, analysts anticipate that the SEC could adopt a <a href="https://www.benzinga.com/markets/equities/25/09/47708753/trumps-bolder-push-for-bi-annual-reporting-might-become-a-reality-by-2027-say-experts-we-may-actually-see-action">European-style system</a>, mandating companies to report only twice a year by 2027.



However, this proposal has been met with criticism. Former Treasury Secretary&nbsp;Lawrence H. Summers&nbsp;warned that Trump&#8217;s proposal to eliminate quarterly corporate earnings reports <a href="https://www.benzinga.com/markets/economic-data/25/09/47707466/larry-summers-warns-trumps-push-to-scrap-quarterly-earnings-will-affect-how-markets-function-students-dont-like-grades">could weaken </a>accountability and transparency in U.S. markets.



On the other hand, Trump&#8217;s idea has been lauded for its potential cost-saving benefits. If America moved to semiannual reporting, it could have a significant impact on the market. Bill Harts, CEO of the&nbsp;Long-Term Stock Exchange <a href="https://www.benzinga.com/markets/equities/25/09/47740724/trump-semiannual-versus-quarterly-reporting-investors-companies">stated </a>that the rule &#8220;can be better not only for companies but for investors as well.&#8221;



READ NEXT:



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Image via Shutterstock



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

Government

Legal

SEC Weighs Rule Change After Trump's Push To Scrap Quarterly Earnings Reports: '...No Stranger To Our Markets'

On Thursday, White House AI and crypto czar David Sacks urged Washington to update <a href="https://www.benzinga.com/markets/tech/25/08/46996543/nvidia-amd-export-restrictions-ease-but-chinese-chipmaker-smic-says-that-growing-domestic-demand-perfectly-replaces-foreign-rivals">export control policies</a>, warning that restricting U.S. companies like Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) from selling chips abroad could hand Chinese companies such as Huawei Technologies the advantage in the global race for artificial intelligence dominance.



<h2 class="wp-block-heading">David Sacks Says Export Controls Need Rethinking</h2>



In a post on X, Sacks said two developments in China this week underscore the urgency: Huawei unveiled a new AI chip to compete with Nvidia and Beijing ordered domestic companies to stop <a href="https://www.benzinga.com/markets/tech/25/09/47709575/china-bans-nvidia-chip-purchases-for-major-tech-firms-nvda-stock-falls-in-wednesday-pre-market">buying certain Nvidia processors</a>.



"Taken together, the message is clear: China is not desperate for our chips," Sacks wrote. "It is producing its own and intends to compete globally in the semiconductor market."



While acknowledging that Nvidia still holds a substantial lead, he noted Huawei is compensating for weaker chips by clustering them in large networks.



He cautioned, "Excessive bureaucratic delays are a gift for Huawei, which will fill out purchase orders as American companies fill out forms."



See Also: <a href="https://www.benzinga.com/analyst-ratings/price-target/25/04/44828811/intel-growth-challenges-are-not-over-despite-altera-stake-sale-analyst" target="_blank" rel="noreferrer noopener">Intel Growth Challenges Are Not Over Despite Altera Stake Sale: Analyst</a>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">There was major news from China in the AI race this week: 1. Huawei introduced a new AI chip to compete with Nvidia. 2. The Chinese government instructed Chinese companies to stop buying certain Nvidia AI chips. Taken together, the message is clear: China is not desperate for… <a href="https://t.co/KcrrI7WJCs">pic.twitter.com/KcrrI7WJCs</a>&mdash; David Sacks (@DavidSacks) <a href="https://twitter.com/DavidSacks/status/1968619522484543756?ref_src=twsrc%5Etfw">September 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">Huawei Unveils Chip Roadmap</h2>



Huawei has disclosed long-term chip plans for the first time, announcing its Ascend AI chips and Kunpeng server processors will follow a one-year release cycle, doubling compute power with each iteration, reported Reuters.



Rotating chairman Eric Xu also said the company has developed proprietary high-bandwidth memory, a technology previously dominated by South Korea's SK Hynix and Samsung Electronics Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>).



At the same time, the Cyberspace Administration of <a href="https://www.benzinga.com/markets/tech/25/09/47709575/china-bans-nvidia-chip-purchases-for-major-tech-firms-nvda-stock-falls-in-wednesday-pre-market">China directed major tech firms</a>, including ByteDance and Alibaba Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) to end testing and orders of Nvidia's RTX Pro 6000D, a chip specifically designed for China to comply with U.S. restrictions, according to the Financial Times.



<h2 class="wp-block-heading">Wall Street Voices Skepticism</h2>



Market commentators pushed back on claims that Huawei is surpassing Nvidia.



Earlier, CNBC's Mad Money host Jim Cramer <a href="https://www.benzinga.com/markets/tech/25/09/47737727/jim-cramer-slams-chinese-media-for-claiming-huawei-bypasses-nvidia-if-their-chips-were-so-great">criticized Chinese media reports</a>, saying, "If their chips were so great everyone would use them."



Daniel Newman, CEO of Futurum Group, has similarly called the idea that China can move on without Nvidia "next-level nonsense."



Previously, Nvidia CEO Jensen Huang had called Huawei formidable, though Huawei's own founder Ren Zhengfei has admitted the company still <a href="https://www.benzinga.com/markets/tech/25/06/45855054/nvidias-jensen-huang-once-called-huawei-chinas-most-formidable-tech-company-but-ceo-ren-zhengfei-says-its-chips-still-lag-behind-us-rivals">trails U.S. chip technology</a>.



Price Action: Nvidia shares climbed 3.49% during Thursday's regular session but slipped 0.24% in pre-market trading on Friday, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro</a>.



Benzinga's Edge Stock Rankings indicate that NVDA is on an upward trajectory over the medium and long term, while showing a short-term decline. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound'">More detailed performance insights can be found here</a>.



<figure class="wp-block-image aligncenter size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound'"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/09/19050058/Screenshot-2025-09-19-at-9.55.42%E2%80%AFAM-1.png" alt="" class="wp-image-1078306"/></a></figure>



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Photo courtesy: Chung-Hao-Lee / Shutterstock

Politics

Global

BABA

SSNLF

White House AI Czar David Sacks Warns Washington Must Let US Chipmakers Like Nvidia Sell Abroad Or Risk Forfeiting AI Race To Huawei And China

President Donald Trump has created a buzz with a cryptic post on his social media platform, Truth Social. This time, the focus is on Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>).



Trump&#8217;s post, which appeared at midnight, featured an AI-generated image of&nbsp;him at the Oval Office&nbsp;desk, surrounded by trading charts on monitors. The image included the text &#8220;Bought Intel at $20&#8221; and &#8220;Intel now at $30.&#8221;



The post, which did not include a caption, has left investors to decode whether Trump is taking credit for Intel&#8217;s recent stock surge.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="579" height="550" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/09/19043947/image-335.png" alt="" class="wp-image-1078266" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/09/19043947/image-335.png 579w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/09/19043947/image-335-300x285.png 300w" sizes="(max-width: 579px) 100vw, 579px" /></figure>



Notably, when the Trump administration acquired a stake in Intel, it agreed to purchase 433.3 million primary shares at $20.47 per share, representing a 9.9% stake in the company. This explains Trump mentioning &#8220;Bought Intel at $20&#8221; in the image.



Furthermore, the stock surged 22.7% on Thursday to close at $30.57, which explains why Trump stated, &#8220;Intel now at $30.&#8221;



Notably, the stock traded 2.36% lower during the Friday pre-market session. 



<h2 class="wp-block-heading">Trump&#8217;s Post Follows Intel-Nvidia AI Partnership Deal</h2>



Trump&#8217;s post comes on the heels of Intel&#8217;s landmark deal with NVIDIA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), announced on Thursday. The deal, which was not government-backed, will see NVIDIA <a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/09/47744592/nvidias-bold-move-catapults-intel-to-the-heart-of-ai-innovation">invest $5 billion</a> in Intel and collaborate on AI data center systems. This partnership is expected to significantly boost Intel&#8217;s position in the AI market. 



The partnership involves a $5 billion investment and collaborative efforts to build AI data center systems that combine Intel&#8217;s x86 processors with Nvidia&#8217;s GPUs and networking products. Notably, the deal did not cover Nvidia's signature products, known as GPUs (graphics processing units).



The partnership with Nvidia was described as a game-changing moment that pulls Intel &#8220;front and center&#8221; into the artificial intelligence race. This was also the result of nearly a year of discussions between the two companies.



<h2 class="wp-block-heading">Nvidia CEO says US Supported Intel deal, No Direct Involvement</h2>



Nvidia&#8217;s CEO, Jensen Huang, confirmed that there was &#8220;no involvement&#8221; of the U.S. government in the deal but stated that it supports the partnership, <a href="https://www.calcalistech.com/ctechnews/article/eopsbwb4o">as per</a> Calcalistech.



Notably, earlier this week, a report by Fitch Ratings warned that the U.S. government&#8217;s recent investment in Intel could lead to &#8220;unintended inefficiencies&#8221; in the global semiconductor industry. Despite this warning, the Intel-Nvidia partnership was seen as a significant move that could potentially reshape the global chip industry.



Dan Ives of Wedbush Securities, told in a note to clients, "This has been a golden few weeks for Intel after years of pain and frustration for investors,&#8221; <a href="https://www.wsj.com/tech/ai/nvidia-intel-5-billion-investment-ad940533">reported </a>The Wall Street Journal.



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</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.

Trump's Cryptic 'Intel At $30' Post Sparks Debate As INTC Shares Slip Over 2% In Friday's Pre-Market

Editor&#8217;s Note: The future prices of benchmark tracking ETFs were updated in the story.



U.S. stock futures were fluctuating around the flat line on Friday following Thursday&#8217;s positive moves. Futures of major benchmark indices were mixed.



Investors awaited the phone call between President&nbsp;Donald Trump&nbsp;and Chinese President&nbsp;Xi Jinping, scheduled for later today, after <a href="https://www.benzinga.com/markets/tech/25/09/47709575/china-bans-nvidia-chip-purchases-for-major-tech-firms-nvda-stock-falls-in-wednesday-pre-market">China banned its major tech firms</a> from purchasing Nvidia Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) chips, and <a href="https://www.benzinga.com/markets/tech/25/09/47751691/intel-stock-has-best-day-ever-jensen-huang-says-nvidia-will-be-a-very-large-customer">NVDA announced an investment</a> in Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>).



A &#8220;<a href="https://www.benzinga.com/markets/tech/25/09/47682964/trump-hints-tiktok-deal-may-finally-be-complete-but-gop-china-hawks-demand-bytedance-disinvestment-and-full-algorithm-split">framework for a TikTok deal</a>&#8221; will also be discussed between the two leaders, confirmed Treasury Secretary Scott Bessent. 



Meanwhile, the 10-year Treasury bond yielded 4.12% and the two-year bond was at 3.57%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 91.9% likelihood of the Federal Reserve cutting the current interest rates in its October meeting.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Dow Jones</td><td>-0.01%</td></tr><tr><td>S&amp;P 500</td><td>0.01%</td></tr><tr><td>Nasdaq 100</td><td>0.03%</td></tr><tr><td>Russell 2000</td><td>0.01%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and the Nasdaq 100 index, respectively, were mixed in premarket on Friday. The SPY was down 0.074% at $661.79, while the QQQ rose 0.23% to $596.69, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="S&amp;P 500, Nasdaq Futures Mixed Ahead Of Trump-Xi Call—FedEx, Lennar In Focus" width="500" height="281" src="https://www.youtube.com/embed/Dlg5qTdNBJQ?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>



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



Most sectors on the S&amp;P 500 closed positively on Thursday, with information technology, industrials, and communication services stocks recording the biggest gains. However, consumer staples and consumer discretionary stocks bucked the overall market trend, closing the session lower. 



The broad advance sent U.S. stocks higher, with the Nasdaq Composite gaining more than 200 points a day after the Federal Reserve cut rates by 25 basis points and signaled more easing ahead.



Tech stocks led the charge. Intel Corp. skyrocketed 23% after Nvidia Corp. pledged a $5 billion investment to co-develop PC and data center chips. CrowdStrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) also rallied around 13% after unveiling long-term AI initiatives and revenue targets, forecasting annual recurring revenue growth above 20% by fiscal 2027.



On the economic front, U.S. initial jobless claims declined by 33,000 from the previous week to 231,000 in the second week of September, compared to market estimates of 240,000. Meanwhile, the Philadelphia Fed Manufacturing Index rose to +23.2 in September, recording its highest level since January and a significant jump from -0.3 in August.



The Dow Jones index ended 124 points or 0.27% higher at 46,142.42, whereas the S&amp;P 500 index rose 0.48% to 6,631.96. Nasdaq Composite advanced 0.94% to 22,470.72, and the small-cap gauge, Russell 2000, gained 2.51% to end at 2,467.70.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>0.94%</td><td>22,470.72</td></tr><tr><td>S&amp;P 500</td><td>0.48%</td><td>6,631.96</td></tr><tr><td>Dow Jones</td><td>0.27%</td><td>46,142.42</td></tr><tr><td>Russell 2000</td><td>2.51%</td><td>2,467.70</td></tr></tbody></table></figure>



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



In a recent market commentary, Scott Wren, Senior Global Market Strategist at Wells Fargo Investment Institute, drew parallels between the current AI-driven market rally and the dot-com bubble of the late 1990s, while highlighting crucial differences that shape his current outlook.



Wren noted that, like the internet boom, a small group of mega-cap stocks tied to a &#8220;world-changing&#8221; technology is propelling the S&amp;P 500 to record highs. In March 2000, the Information Technology and Telecom sectors comprised nearly half of the index&#8217;s capitalization. Today, a similar concentration exists, with the Technology, Communications Services, and Consumer Discretionary sectors—all dominated by tech giants—making up over 55% of the S&amp;P 500&#8217;s total value.



However, Wren points to a fundamental distinction. He states that the current mega-cap leaders driving the AI boom possess strong revenues, robust cash flows, and solid balance sheets. This contrasts sharply with the dot-com era, where many leading companies &#8220;were priced on potential future revenues and cash flows rather than current performance&#8221;.



While believing the AI trend will persist, Wren remains cautious due to a slowing economy and rising inflation, which could negatively impact some sectors. In response, Wells Fargo has maintained its favorable rating on large-cap stocks but has trimmed exposure to areas with high valuations or fundamental weaknesses.



Wren's strategy is to reallocate funds into less expensive, AI-related sectors like Information Technology and Industrials. The firm is most optimistic about the Financials sector, which is expected to benefit from falling interest rates.



The overall investment goal, Wren explains, is &#8220;to keep a favorable view of AI-related trends but to protect capital by trimming and reallocating selectively&#8221;.



Meanwhile, GQG Partners echoed a similar narrative in their latest report but diverged from the Wells Fargo view, noting that the <a href="https://www.benzinga.com/markets/equities/25/09/47735517/big-tech-stocks-mirror-dotcom-bubble-but-on-steroids-says-top-analyst-could-repercussions-be-more-pronounced-than-1999-crash">tech sector no longer represents forward-looking quality</a> due to decelerating revenue growth and increasing competition. 



"Today's market, particularly in the tech sector, exhibits dotcom-era overvaluation, with lofty multiples, slower earnings growth, and a weaker macroeconomic backdrop, in our view," the firm stated.



Furthermore, the report pushes back on the perception that today's tech companies are cheaper than their dot-com counterparts, arguing that on a growth-adjusted basis, they are actually more expensive.



Data shows that the share of S&amp;P 500 companies trading at more than 10 times sales has already surpassed the 2000 peak, signaling widespread overvaluation.



Due to these risks, GQG concludes it sees "better investment opportunities outside the tech sector." This view was also echoed by Meb Faber, the founder of Cambria Funds on X.



<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">Some great charts in this piece from <a href="https://twitter.com/GQGPartners?ref_src=twsrc%5Etfw">@GQGPartners</a>: &quot;Today's market, particularly in the tech sector, exhibits dotcom-era overvaluation, with lofty multiples, slower earnings growth, and a weaker macroeconomic backdrop, in our view We believe today's technology sector no longer… <a href="https://t.co/ne5mkJSDjr">pic.twitter.com/ne5mkJSDjr</a>&mdash; Meb Faber (@MebFaber) <a href="https://twitter.com/MebFaber/status/1968037331161821230?ref_src=twsrc%5Etfw">September 16, 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/money/how-to-trade-futures">How to Trade Futures </a>



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



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



<ul class="wp-block-list">
<li>San Francisco Fed President Mary Daly will speak at 2:20 p.m. ET.</li>
</ul>



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



<ul class="wp-block-list">
<li>FedEx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) rose 4.88% in premarket on Friday after posting better-than-expected financial results for the first quarter of fiscal 2026 on Thursday after the bell. It expects revenue to be up 4% to 6% on a year-over-year basis in fiscal 2026.</li>



<li>Lennar Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) tumbled 3.20% after posting weaker-than-expected third-quarter results after Thursday's closing bell. It reported adjusted earnings of $2 per share, which missed the consensus estimate of $2.10. Quarterly revenue came in at $8.81 billion, which missed the Street estimate of $8.99 billion.</li>



<li>Scholastic Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCHL#NASDAQ">SCHL</a>) dropped 10.31% after reporting downbeat financial results for the first quarter.</li>



<li>MoneyHero Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNY#NASDAQ">MNY</a>) jumped 10.36% ahead of its earnings report scheduled to be released before the opening bell. Analysts estimate earnings loss of 2 cents per share on revenue of $19.92 million.</li>



<li>Globus Maritime Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLBS#NASDAQ">GLBS</a>) advanced 7.97% as analysts expect it to report earnings loss of 18 cents per share on revenue of $8.80 million after the closing bell.</li>



<li>Brera Holdings PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BREA#NASDAQ">BREA</a>) fell 8.67% after Ark Invest made a bold move by purchasing a total of 6,500,001 shares across multiple ETFs.</li>



<li>AGM Group Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGMH#NASDAQ">AGMH</a>) surged 127.805 after revealing that AGM's subsidiary in Hong Kong finalized the sale of Nanjing Lucun Semiconductor Co. Ltd. to Hong Kong Giant Electronics Co., Limited for $57.45 million on May 7.</li>



<li>Quantumscape Corp.(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QS#NYSE">QS</a>) was 2.56% higher after several Form 4 filings showed notable insider trading on September 12. Director Jeffrey B. Straubel exercised 130,067 stock options at $2.377 each and sold 157,180 shares at an average price of $9.1997, all part of a trading plan set up in June under Rule 10b5-1.</li>



<li>United Parcel Service Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) was up 1.13% as it filed an 8-K form saying it canceled the Estafeta acquisition because it couldn&#8217;t meet the conditions needed to close the deal.</li>
</ul>



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



Crude oil futures were trading lower in the early New York session by 0.85% to hover around $63.03 per barrel.



Gold Spot US Dollar rose 0.30% to hover around $3,655.43 per ounce. Its last record high stood at $3,707.7 per ounce. The U.S. Dollar Index spot was 0.24% higher at the 97.5850 level.



Asian markets closed mixed on Friday, as China&#8217;s CSI 300, Hong Kong's Hang Seng, and Australia's ASX 200 indices rose. On the other hand, India&#8217;s S&amp;P BSE Sensex, Japan's Nikkei 225, and South Korea's Kospi indices fell. European markets were higher in early trade.



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<li><a style="font-weight: bold;" href="https://www.benzinga.com/crypto/cryptocurrency/25/09/47756557/michael-saylor-hints-at-selling-bitcoin-to-fund-mstr-dividends-in-worst-case-scenario-short-seller-jim-chanos-calls-it-financial-gibberish">Michael Saylor Hints At Selling Bitcoin To Fund MSTR Dividends In &#8216;Worst-Case Scenario,&#8217; Short-Seller Jim Chanos Calls It &#8216;Financial Gibberish&#8217;</a></li>
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Photo courtesy: godongphoto / Shutterstock.com

Earnings

Market Summary

Short Sellers

Guidance

Futures

Commodities

Treasuries

Pre-Market Outlook

AGMH

BREA

CRWD

GLBS

SCHL

Stock Market Today: Dow, S&P 500 Futures Rise Ahead Of Trump-Xi Call— FedEx, MoneyHero, Lennar In Focus (UPDATED)

The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, while the index remained in the &#8220;Greed&#8221; zone on Thursday.



U.S. stocks settled higher on Thursday, with the Nasdaq Composite gaining more than 200 points, a day after the Federal Reserve cut rates by 25 basis points and signaled more easing ahead.



Tech stocks led the charge. Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) skyrocketed 23% after Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) pledged a $5 billion investment to co-develop PC and data center chips.



CrowdStrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) rallied around 13% on Thursday after unveiling long-term AI initiatives and revenue targets, forecasting annual recurring revenue growth above 20% by fiscal 2027.



On the economic front, U.S. initial jobless claims declined by 33,000 from the previous week to 231,000 in the second week of September, compared to market estimates of 240,000. The Philadelphia Fed Manufacturing Index rose to +23.2 in September, recording its highest level since January, and compared to -0.3 in August.



Most sectors on the S&amp;P 500 closed on a positive note, with information technology, industrials and communication services stocks recording the biggest gains on Thursday. However, consumer staples and consumer discretionary stocks bucked the overall market trend, closing the session lower.



The Dow Jones closed higher by around 124 points to 46,142.42 on Thursday. The S&amp;P 500 rose 0.48% to 6,631.96, while the Nasdaq Composite gained 0.94% to 22,470.72 during Thursday's session.



Investors are awaiting earnings results from MoneyHero Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNY#NASDAQ">MNY</a>) and Globus Maritime Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLBS#NASDAQ">GLBS</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 61.6, the index remained in the &#8220;Greed&#8221; zone on Thursday, versus a prior reading of 58.5.



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



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Photo via Shutterstock

Long Ideas

Nasdaq Surges Over 200 Points Amid Positive Economic Data: Investor Sentiment Improves, Fear Index Remains In 'Greed' Zone

Leading coins traded sideways Thursday even as the Securities and Exchange Commission eased rules for listing institutional cryptocurrency products.



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 9:18 p.m. ET)</th></tr></thead><tbody><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+0.58%</td><td>$117,273.58</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-0.06%</td><td>$4,603.96</td></tr><tr><td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+0.05%</td><td>$3.08</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+0.76%</td><td>$247.71</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-0.41%</td><td>$0.2815</td></tr></tbody></table></figure>



<h2 class="wp-block-heading">A Big Move Incoming For Bitcoin?</h2>



Bitcoin all but broke $118,000 before diving to $116,527 late in the evening. The trading activity remained thin, with volumes dropping 21% over the last 24 hours. Ethereum wiggled in the tight range between $4,550 and $4,643.



The SEC approved <a href="https://www.benzinga.com/crypto/cryptocurrency/25/09/47744854/dogecoin-xrp-spot-etfs-see-record-first-hour-trading-volumes-as-sec-announces-new-listing-standards">&#8220;generic listing standards&#8221;</a> for cryptocurrency exchange-traded products, potentially easing barriers for institutional capital.



Nearly $250 million was liquidated from the cryptocurrency market in the last 24 hours, with short liquidations accounting for $160 million.



Bitcoin&#8217;s open interest rose 2.40% in the last 24 hours. If the price is flat but open interest increases, it signals potential for a large move in either direction.



Meanwhile, more than 53% of the top BTC traders on Binance i.e, the top 20% users with the highest margin balance, were positioned long.



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



Top Gainers (24 Hours)&nbsp;



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency (Market Cap&gt;$100 M))</th><th>Gains +/-</th><th>Price (Recorded at 9:18 p.m. ET)</th></tr></thead><tbody><tr><td>STBL (STBL)&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+61.86%</td><td>$0.2138</td></tr><tr><td>APX (APX)&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+46.40%</td><td>$0.6342</td></tr><tr><td>Toshi (TOSHI)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+46.02%</td><td>$0.6445 </td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $4.10 trillion, following a modest increase of 0.6% in the last 24 hours.



<h2 class="wp-block-heading">Tech Stocks Rally After Nvidia-Intel Partnership</h2>



Stocks hit new intraday highs on Thursday. The Dow Jones Industrial Average spiked 124 points, or 0.27%, to finish at 46,142.42. The S&amp;P 500 added  0.48% to end at 6,631.96, while the tech-focused Nasdaq Composite closed up 0.94% at 22,470.73.



The tech rally followed Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) <a href="https://www.benzinga.com/markets/tech/25/09/47751691/intel-stock-has-best-day-ever-jensen-huang-says-nvidia-will-be-a-very-large-customer">announcing a joint initiative</a> with Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) to develop AI infrastructure and personal computing products.



Intel shares closed up 22.7%, while Nvidia's stock popped 3.49% during the regular trading session.



<h2 class="wp-block-heading">Bitcoin To Dip Before Rip?</h2>



Widely-followed cryptocurrency analyst and trader Ali Martinez said Bitcoin may be forming an inverse head and shoulders pattern, with a possible dip to $112,000 before a rally to $130,000.



For the curious, the inverse head and shoulders pattern is a bullish reversal pattern, indicating exhaustion of a prolonged downturn. It consists of a left shoulder, a lower head and a right shoulder, followed by a price break above the &#8220;neckline.&#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">Bitcoin <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> may be forming the right shoulder of a head-and-shoulders. Potential dip to $112,000 before a rally to $130,000. <a href="https://t.co/RPgl32y86m">pic.twitter.com/RPgl32y86m</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1968766727401177533?ref_src=twsrc%5Etfw">September 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Ted Pillows, an angel investor and cryptocurrency market observer stated that Bitcoin peaks 1,070-1,080 days after market bottoms, citing historical price cycles.



"This time, I&#8217;m expecting a longer cycle due to institutional arrival. IMO, BTC will likely top in Jan/Feb 2026," the analyst predicted.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> has historically peaked 1,070-1,080 days after bottom. This time, I&#39;m expecting a longer cycle due to institutional arrival. IMO, BTC will likely top in Jan/Feb 2026. <a href="https://t.co/ORiZR0ENZO">pic.twitter.com/ORiZR0ENZO</a>&mdash; Ted (@TedPillows) <a href="https://twitter.com/TedPillows/status/1968646687121113517?ref_src=twsrc%5Etfw">September 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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$DOGE

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Bitcoin, Ethereum, XRP, Dogecoin Unmoved Even As SEC's Policy Changes Hint At Quicker Crypto ETFs; Analyst Sees BTC's Rally To $130,000 After Pullback

On Thursday, Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) shares jumped by double digits after announcing a <a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/09/47744592/nvidias-bold-move-catapults-intel-to-the-heart-of-ai-innovation">major partnership</a> with Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).



<h2 class="wp-block-heading">Intel Stock Rockets On Breakthrough Deal With Nvidia</h2>



Intel shares jumped 22.77% to close at $30.57 after unveiling a partnership with Nvidia to co-develop custom chips and next-generation systems.



The stock slipped slightly in after-hours trading, while Nvidia rose 3.49% during the session and added modest gains after hours, according to <a href="http://pro.benzinga.com/">Benzinga Pro</a>.



The announcement marked Intel's sharpest rally of the year, lifting its year-to-date gains to more than 52%.



<h2 class="wp-block-heading">Lip-Bu Tan Praises Collaboration With Jensen Huang</h2>



Intel CEO Lip-Bu Tan described the partnership as both personal and strategic.



"Excited to team up with my good friend Jensen to jointly develop multiple generations of custom data center and PC products," Tan said on X, formerly Twitter.



"Our collaboration brings together the best of Intel and Nvidia to benefit customers – and shows how vital x86 architecture and NVLink will be in shaping the future of AI infrastructure and personal computing."



See Also :&nbsp;<a href="https://www.benzinga.com/analyst-ratings/price-target/25/04/44828811/intel-growth-challenges-are-not-over-despite-altera-stake-sale-analyst" target="_blank" rel="noreferrer noopener">Intel Growth Challenges Are Not Over Despite Altera Stake Sale: Analyst</a>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Excited to team up with my good friend Jensen to jointly develop multiple generations of custom data center and PC products! Our collaboration brings together the best of <a href="https://twitter.com/intel?ref_src=twsrc%5Etfw">@Intel</a> and <a href="https://twitter.com/nvidia?ref_src=twsrc%5Etfw">@nvidia</a> to benefit customers – and shows how vital x86 architecture and NVLink will be in… <a href="https://t.co/lnEtmJW73A">pic.twitter.com/lnEtmJW73A</a>&mdash; Lip-Bu Tan (@LipBuTan1) <a href="https://twitter.com/LipBuTan1/status/1968633691120296368?ref_src=twsrc%5Etfw">September 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



In the announcement press release, Tan highlighted Intel's decades of leadership in x86 architecture. He stated that together with its manufacturing scale and advanced packaging capabilities, Intel's architecture will serve as a strong complement to Nvidia's dominance in accelerated computing.



<h2 class="wp-block-heading">Jensen Huang Calls AI A New Industrial Revolution</h2>



Nvidia co-founder and CEO Huang framed the alliance as transformative for the entire industry.



"AI is powering a new industrial revolution and reinventing every layer of the computing stack — from silicon to systems to software," Huang said in the press release.



He said that tying Nvidia's CUDA platform and accelerated computing stack with Intel's CPU ecosystem would "lay the foundation for the next era of computing."



<h2 class="wp-block-heading">Details Of The Nvidia-Intel Partnership And Investment</h2>



Under the agreement, <a href="https://www.benzinga.com/markets/tech/25/09/47737575/nvidia-breeds-new-life-in-intel-stock-with-5-billion-deal">Intel will design custom</a> x86 CPUs optimized for Nvidia's AI infrastructure platforms and build a system-on-chip for PCs that integrates Nvidia RTX GPU chiplets.



Nvidia's NVLink technology will serve as the bridge connecting the two platforms.



As part of the deal, Nvidia will invest $5 billion in Intel stock at $23.28 per share, pending regulatory approval.



<h2 class="wp-block-heading">Government Backing And Intel's Restructuring Push</h2>



The partnership arrives as Washington boosts Intel's turnaround. The U.S. government has already <a href="https://www.benzinga.com/markets/tech/25/08/47324207/kevin-oleary-says-intel-should-have-been-sold-for-car-parts-3-years-ago-shark-slams-trumps-11-billion-investment-move">secured a 10% stake in Intel</a> through the CHIPS Act, with rights to purchase another 5% if needed.



As part of sweeping reforms under Tan, Intel has sold a majority stake in Altera to Silver Lake <a href="https://www.benzinga.com/markets/tech/25/09/47666336/intel-wraps-up-altera-stake-sale-in-bid-to-streamline-business">for $3.3 billion</a>, announced plans to reduce its workforce to 75,000 and established a separate foundry board.



Benzinga's Edge Stock Rankings indicate that Intel is maintaining an upward trajectory across short, medium and long-term horizons, with <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound'">additional performance insights available here</a>.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound'"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/09/18213954/Screenshot-2025-09-19-at-6.58.21%E2%80%AFAM.png" alt="" class="wp-image-1077721"/></a></figure>



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<li><a href="https://www.benzinga.com/25/05/45396297/cathie-wood-dumps-palantir-as-stock-touches-peak-prices-bails-on-soaring-flying-taxi-maker-archer-aviation" target="_blank" rel="noreferrer noopener">Cathie Wood Dumps Palantir As Stock Touches Peak Prices, Bails On Soaring Flying-Taxi Maker Archer Aviation</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Jensen Huang Is A 'Good Friend,' Says Intel CEO Lip-Bu Tan Amid News Of Partnership With Nvidia: Next Era Of Computing Coming?

On Thursday,&nbsp;Cathie Wood-led Ark Invest executed significant trades, notably selling shares of&nbsp;Tempus AI Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEM#NASDAQ">TEM</a>) and buying shares of&nbsp;Brera Holdings PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BREA#NASDAQ">BREA</a>), Pony AI Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PONY#NASDAQ">PONY</a>) and&nbsp;Baidu Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>). These trades reflect Ark&#8217;s strategic positioning in the tech and AI sectors.



<h2 class="wp-block-heading">The Brera Holdings Trade</h2>



On Thursday, Ark Invest made a bold move by purchasing a total of 6,500,001 shares of&nbsp;Brera Holdings across multiple ETFs. The trades were executed through&nbsp;ARK Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#BATS">ARKK</a>),&nbsp;Ark Fintech Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#BATS">ARKF</a>), and&nbsp;ARK Next Generation Internet ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#BATS">ARKW</a>)&nbsp;funds. 



This acquisition comes at a time when Brera Holdings&#8217; stock closed at $24.90, marking a remarkable increase of 225.49% in its value. The total value of the shares acquired by Ark Invest amounts to approximately $161.85 million.



Solmate, the new identity of Brera Holdings, will become a Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based digital asset treasury and crypto infrastructure company, following an oversubscribed $300 million investment led by UAE-based Pulsar Group, the Solana Foundation, RockawayX, and ARK Invest, according to a press statement. 



Solmate will focus on accumulating and staking Solana, the sixth-largest cryptocurrency by market capitalization, deploying advanced Solana validator infrastructure in the UAE, and supporting the region's digital innovation goals. Marco Santori, former Kraken Chief Legal Officer, will serve as CEO, joined by economist Dr. Arthur Laffer and RockawayX CEO Viktor Fischer on the board, with two seats reserved for the Solana Foundation. Solmate will also continue operating Brera's existing multi-club sports ownership business.



<h2 class="wp-block-heading">The Tempus AI Trade</h2>



Ark Invest offloaded 43,157 shares of&nbsp;Tempus AI through its ARKK ETF. The transaction, valued at approximately $3.76 million, comes amid recent developments at Tempus AI. 



The company has been in the spotlight after receiving <a href="https://www.benzinga.com/trading-ideas/movers/25/09/47671433/whats-going-on-with-tempus-ai-stock-monday">510(k) clearance from the FDA</a> for its updated Tempus Pixel, an AI-powered cardiac imaging platform. Despite a marginal decline in stock price earlier in the week, Tempus AI has seen a positive trajectory, with HC Wainwright &amp; Co. raising its price target to $98.



Tempus AI&#8217;s stock closed at $87.07 on Thursday, reflecting a slight increase of 0.72%. The company&#8217;s advancements in AI and precision medicine continue to draw investor interest. Notably, Ark sold 8,850 Tempus AI shares earlier on Wednesday.



<h2 class="wp-block-heading">The Pony AI Trade</h2>



Ark Invest&#8217;s ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>) acquired 31,764 shares of&nbsp;Pony AI, amounting to a purchase valued at approximately $554,917. Pony AI, a leader in autonomous driving technology, reported a remarkable 75.9% year-over-year revenue growth in its second-quarter results. This growth was largely driven by its <a href="https://www.benzinga.com/markets/earnings/25/08/47053767/pony-ais-robotaxi-expansion-accelerates-multi-year-growth-trajectory-ceo-says">expanding Robotaxi services</a>, positioning the company as a key player in the autonomous vehicle market.



The stock price of Pony AI remained unchanged at $17.47 on Thursday. On Wednesday, Ark had purchased $1.5 million worth of the company&#8217;s stock.



<h2 class="wp-block-heading">The Baidu Trade</h2>



Ark Invest also added 5,033 shares of&nbsp;Baidu to its ARKQ ETF, with the transaction valued at approximately $680,713.



Baidu&#8217;s stock closed at $135.25 on Thursday, experiencing a slight dip of 1.87%. On Wednesday, the Wood-led firm <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/09/47730459/cathie-wood-loads-up-on-bullish-inc-pony-ai-and-robinhood-dumps-kratos-defense-amid-taiwan-drone-buzz">acquired 5,164 shares of Baidu through ARKQ.</a>



<h2 class="wp-block-heading">Other Key Trades:</h2>



<ul class="wp-block-list">
<li>Roku Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>): Ark Invest sold 47,474 shares through ARKK.</li>



<li>AeroVironment Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVAV#NASDAQ">AVAV</a>): Ark Invest purchased 3,560 shares across ARKQ and ARKX.</li>



<li>ATAI Life Sciences NV&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATAI#NASDAQ">ATAI</a>): Ark Invest acquired 68,720 shares via ARKG.</li>



<li>Arcturus Therapeutics Holdings Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCT#NASDAQ">ARCT</a>): Ark Invest bought 23,607 shares through ARKG.</li>
</ul>



Benzinga&#8217;s Edge Stock Rankings indicate Brera Holdings or Solmate checks out on Short, Medium and Long Price Trends. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Here is how the stock fares on other parameters.</a>



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="403" height="96" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/09/18212838/Screenshot-2025-09-19-at-10.28.25.png" alt="" class="wp-image-1077705" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/09/18212838/Screenshot-2025-09-19-at-10.28.25.png 403w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/09/18212838/Screenshot-2025-09-19-at-10.28.25-300x71.png 300w" sizes="(max-width: 403px) 100vw, 403px" /></a></figure>



Read Next:



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<li><a href="https://www.benzinga.com/markets/earnings/25/09/47732461/cracker-barrel-ceo-julie-masino-says-will-not-proceed-with-these-modern-stores-hits-pause-on-700-million-capex-plan-after-remodelling-backlash">Cracker Barrel CEO Julie Masino Says, &#8216;Will Not Proceed With These Modern Stores&#8217; — Hits Pause On $700 Million CapEx Plan After Remodelling Backlash</a></li>
</ul>



Photo: ChrisStock82 / Shutterstock



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

ARCT

ARKF

ARKK

ARKQ

ARKW

ATAI

AVAV

BIDU

PONY

ROKU

Cathie Wood's Ark Bets Big On Solana Treasury Play: Makes $162M Investment In Brera Holdings As Stock Explodes 225%

The small-cap rally just got real. The Russell 2000, America's small-cap benchmark as tracked by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), just smashed through old records, hitting 2,470 points on Thursday and topping <a href="https://www.benzinga.com/trading-ideas/small-cap-analysis/25/09/47746656/wall-street-thursday-stocks-today-intel-crowdstrike-nvidia-coinbase-solana">its November 2024 high. </a>



The move came one day after the Federal Reserve cut interest rates by 25 basis points, and hinted that more cuts could be coming soon—a clear green light for small, interest-rate-sensitive companies.



<h2 class="wp-block-heading">Chart: Small Caps Smash Prior Records Set In November 2021 And 2024</h2>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="556" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/09/18133018/image-320-1024x556.png" alt="" class="wp-image-1077318" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/09/18133018/image-320-1024x556.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/09/18133018/image-320-300x163.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/09/18133018/image-320-768x417.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/09/18133018/image-320-1536x834.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/09/18133018/image-320-2048x1112.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



It's a notable reversal for a part of the market that's lagged for much of the post-COVID bull run.



But since the April&#8217;s tariff-driven selloff, small caps have rallied 43% outperforming the S&amp;P 500&#8217;s 37% gain. Since the August lows, small caps have outperformed the Nasdaq 100 – tracked by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) – by nearly 8%, as Jeff Jacobson, analyst at 22V Research, highlighted in an emailed note.



"That trend could extend if rates continue to decline," Jacobson added.



The Federal Reserve's decision to lower rates to a 4.00%–4.25% target is already having ripple effects. Small caps—often the first beneficiaries of easier financial conditions—are now center stage.



Cheaper borrowing costs give smaller companies a fighting chance. These firms often carry higher debt loads and rely more heavily on credit to fund growth, making rate cuts especially impactful.



In its latest Summary of Economic Projection, the Fed pencilled in the potential for two more cuts in the remaining two meetings of the year and a further cut next year.



<h3 class="wp-block-heading">Russell 2000 Stocks That Exploded 20%+ On Thursday</h3>



Here's a look at eight of Thursday's biggest small-cap winners—each gaining more than 20% as the Russell 2000 surged:



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Stock Name </th><th>% Change</th><th>What They Do</th></tr></thead><tbody><tr><td>89bio Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETNB#NASDAQ">ETNB</a>)</td><td>+85.5%</td><td>Biotech firm focused on liver and cardio-metabolic diseases. Surged after positive trial data for its NASH treatment.</td></tr><tr><td>Quantum-Si Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QSI#NASDAQ">QSI</a>)</td><td>+27.4%</td><td>A protein sequencing company aiming to revolutionize next-gen diagnostics. Shares rose on biotech momentum.</td></tr><tr><td>Intellia Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTLA#NASDAQ">NTLA</a>)</td><td>+23.8%</td><td>CRISPR-based gene editing company. Rally driven by renewed excitement in gene therapy.</td></tr><tr><td>Ramaco Resources (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/METC#NASDAQ">METC</a>)</td><td>+22.1%</td><td>Coal miner specializing in metallurgical coal used in steelmaking. Gained on commodity strength.</td></tr><tr><td>Humacyte Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUMA#NASDAQ">HUMA</a>)</td><td>+21.9%</td><td>Makes bioengineered blood vessels and regenerative tissue. Jumped on regulatory progress.</td></tr><tr><td>Butterfly Network (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BFLY#NYSE">BFLY</a>)</td><td>+21.8%</td><td>Developer of handheld ultrasound devices. Benefited from rising medical tech adoption.</td></tr><tr><td>New Fortress Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFE#NASDAQ">NFE</a>)</td><td>+21.5%</td><td>Operates natural gas infrastructure and LNG supply. Surged as energy stocks caught a tailwind.</td></tr><tr><td>Acuren Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACRN#NYSE">ACRN</a>)</td><td>+20.9%</td><td>Industrial services provider offering inspection, testing, and engineering. Rose after contract wins and strong outlook.</td></tr></tbody></table></figure>



Read Next:



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<li><a href="https://www.benzinga.com/markets/economic-data/25/09/47741120/federal-reserve-policy-outlook-goldman-sachs-sees-more-rate-cuts-coming">The Fed&#8217;s Just Warming Up — Goldman Sachs Sees More Rate Cuts Coming</a></li>
</ul>



Image created using artificial intelligence via Midjourney.

Small Cap

BFLY

ETNB

HUMA

METC

NTLA

ACRN

Russell 2000 Hits All-Time Highs: 8 Stocks Power Small-Cap Comeback

When it comes to memes, Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk <a href="https://www.benzinga.com/news/education/25/06/46157568/happy-birthday-elon-musk-54-facts-and-figures-about-tesla-spacex-ceo-on-his-54th-birthday">is a fan.</a> But when it comes to calling his electric vehicle company a "meme stock," he's not amused. One investing expert, however, argues that Tesla deserves the meme stock label given its current valuation.



What Happened: Tesla has often traded with a valuation higher than its automotive peers, a valuation that Ark Invest CEO Cathie Wood believes should <a href="https://www.benzinga.com/markets/penny-stocks/23/08/34102486/exclusive-cathie-wood-tells-benzinga-why-tesla-should-trade-as-a-tech-stock">be a reality.</a>



While experts argue whether Tesla should trade with a valuation of an automotive company or a technology company, the current valuation is significantly ahead of both sectors.



Sharing thoughts on Musk's new compensation package, Yale School of Management Senior Associate Dean Jeff Sonnenfeld didn't hold back with the meme stock analogy.



"This is the biggest meme stock we've ever seen," Sonnenfeld said in an interview with <a href="https://www.cnbc.com/video/2025/09/05/teslas-proposed-pay-package-is-foolish-and-reckless-but-shareholders-problem-yales-sonnenfeld.html">CNBC</a>.



The investing expert highlighted the price to earnings ratio of Tesla being above 200. On Benzinga Pro, the PE ratio is 253.5x on a trailing twelve-month basis and 169.5x on a forward basis.



"Even at its peak, Amazon was nowhere near this level. The PE on this, well above 200, is just crazy. When you've got stocks like Nvidia, the price-earnings ratio is around 25 or 30, and Apple is maybe 35 or 36." &nbsp;



Sonnenfeld said Tesla's valuation is "crazy."



"They've, I think, put a little too much emphasis on the magic wand of Musk."



Read Also: <a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/09/47745290/tesla-stock-price-forecast-elon-musk-pay-deliveries">Tesla Stock Surged 1,350% After Musk&#8217;s Last Pay Plan—New Package Could Ignite Gains, Analyst Says</a>



 Why It's Important: Asked about the new compensation plan for Musk, Sonnenfeld said it was "foolish" and "reckless" of the board and will turn into shareholders' problems.



The investing expert said no one is worth $1 trillion in compensation. Sonnenfeld also said that if Musk leaves Tesla, as he hinted at as a potential without a higher ownership percentage, he would be the person most impacted if the stock went down.



"He'd be the biggest loser," Sonnenfeld said.



In his interview, Sonnenfeld praised Musk&#8217;s talent and said there might not be anyone smarter or more entrepreneurial.



"He's a brilliant guy."



As for the premium valuation, Sonnenfeld also warned against shorting the stock.



"People shorting haven't done well due to timing."



Last month, Musk<a href="https://www.benzinga.com/trading-ideas/long-ideas/25/08/47130405/elon-musk-sends-warning-to-tesla-short-sellers-they-will-be-obliterated"> issued a warning</a> to investors betting against the electric vehicle company.



"If they don't exit their short position before Tesla reaches autonomy at scale, they will be obliterated," Musk said, referring to a list of the top companies with short positions in the stock.



Sonnenfeld said he hopes that a succession plan is laid out for Tesla with someone new ready to take the company into the next phase. The expert highlighted Tesla losing market share in Europe and China with BYD dominating in certain markets.



"There isn't a part of the world where Tesla isn't falling under Musk."



The expert said it's time for Musk to move on and time for someone who "won't cost a trillion dollars" to lead the company.



TSLA Price Action: Tesla stock was down 2.1% to $416.85 on Thursday versus a 52-week trading range of $212.11 to $488.54. Tesla stock is up 9.9% year-to-date in 2025. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/earnings/25/07/46587882/tesla-q2-earnings-highlights-revenue-and-earnings-fall-short-new-models-still-set-for-2025-2026">Tesla Q2 Earnings Highlights: Revenue And Earnings Fall Short; New Models Still Set For 2025–2026<span class="author" style="box-sizing: border-box; border: 0px solid rgb(229, 231, 235); --tw-scale-x: 1; --tw-scale-y: 1; --tw-pan-x: ; --tw-pan-y: ; --tw-pinch-zoom: ; --tw-scroll-snap-strictness: proximity; --tw-gradient-from-position: ; --tw-gradient-via-position: ; --tw-gradient-to-position: ; --tw-ordinal: ; --tw-slashed-zero: ; --tw-numeric-figure: ; --tw-numeric-spacing: ; --tw-numeric-fraction: ; --tw-ring-inset: ; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246/0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; --tw-blur: ; --tw-brightness: ; --tw-contrast: ; --tw-grayscale: ; --tw-hue-rotate: ; --tw-invert: ; --tw-saturate: ; --tw-sepia: ; --tw-drop-shadow: ; --tw-backdrop-blur: ; --tw-backdrop-brightness: ; --tw-backdrop-contrast: ; --tw-backdrop-grayscale: ; --tw-backdrop-hue-rotate: ; --tw-backdrop-invert: ; --tw-backdrop-opacity: ; --tw-backdrop-saturate: ; --tw-backdrop-sepia: ; --tw-contain-size: ; --tw-contain-layout: ; --tw-contain-paint: ; --tw-contain-style: ;">&nbsp;</a></li>
</ul>



Photo: Shutterstock

Short Ideas

Tesla 'The Biggest Meme Stock' Ever? Expert Says 'Too Much Emphasis On The Magic Wand Of Musk'

Billionaire investor David Tepper thinks stocks are considerably overvalued, but remains in the market because his number one rule is to never <a href="https://www.benzinga.com/trading-ideas/small-cap-analysis/25/09/47746656/wall-street-thursday-stocks-today-intel-crowdstrike-nvidia-coinbase-solana">fight the Federal Reserve.</a>



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



<h2 class="wp-block-heading">"Don't Fight The Fed"</h2>



Tepper told CNBC on Thursday that his hedge fund Appaloosa Management remains bullish on the market, but only because the Fed has begun cutting rates.&nbsp;



Read Next:<a href="https://www.benzinga.com/crypto/cryptocurrency/25/09/47743954/nba-star-kevin-durant-forgot-his-coinbase-password-and-bitcoin-soared-11000"> NBA Star Kevin Durant Forgot His Coinbase Password—And Bitcoin Soared 11,000%&nbsp;</a>



The hedge fund manager sees valuations as way too high and the market "frothy" with excess liquidity.&nbsp; Tepper pointed to inflated multiples and a lack of supporting fundamentals as serious concerns.&nbsp;



"We're having a really good year and I'm so miserable for having a really good year," Tepper said.&nbsp;



"I don&#8217;t love the multiples, but how do I not own it?&#8221; he added.&nbsp;



Tepper reiterated he is not going against the tide of <a href="https://www.benzinga.com/markets/economic-data/25/09/47741120/federal-reserve-policy-outlook-goldman-sachs-sees-more-rate-cuts-coming">incoming rate cuts </a>and acknowledged that liquidity and policy direction can propel markets higher even when multiples aren't cheap.



"I am not ever fighting this Fed," Tepper said, adding, "especially when the markets tell me&#8230; one and three quarter more cuts before the end of the year, so that's a tough thing not to own."



<h2 class="wp-block-heading">Appaloosa's Top 10 Holdings</h2>



Appaloosa Management's top 10 holdings as of Q2 2025 highlight Tepper's focus on a concentrated, high-conviction portfolio balancing tech, healthcare and energy. 



According to the firm's most recent 13F filing, Appaloosa's top 10 holdings are: 



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Company</td><td>Portfolio Weight</td></tr><tr><td>Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>)</td><td>12.4%</td></tr><tr><td>UnitedHealth Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>)</td><td>&nbsp; 11.9%</td></tr><tr><td>Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)</td><td>9.2%</td></tr><tr><td>Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>)</td><td>5.4%</td></tr><tr><td>NRG Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>)</td><td>4.9%</td></tr><tr><td>Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</td><td>&nbsp; 4.6%</td></tr><tr><td>NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)</td><td>4.3%</td></tr><tr><td>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>)&nbsp;</td><td>4.1%</td></tr><tr><td>Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>)</td><td>4.0%</td></tr><tr><td>Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</td><td>3.9%</td></tr></tbody></table></figure>



Read Next:&nbsp;



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</ul>



Photo: Shutterstock

Hedge Funds

AMZN

GOOGL

MSFT

Billionaire David Tepper Won't 'Fight The Fed'—But He Hates This Market

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1024" height="649" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/09/18043340/Hollywood-China.jpg" alt="" class="wp-image-19059" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/09/18043340/Hollywood-China.jpg 1024w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/09/18043340/Hollywood-China-300x190.jpg 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/09/18043340/Hollywood-China-768x487.jpg 768w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h2 class="wp-block-heading">Setting the Stage: AI, Copyrights, and a Global Showdown</h2>



A legal earthquake just struck the entertainment world: Hollywood's biggest studios including Disney, Universal, and Warner Bros. Discovery, have simultaneously <a href="https://www.scribd.com/document/917955361/Disney-v-MinMax" target="_blank" rel="noreferrer noopener nofollow">filed a blockbuster lawsuit against MiniMax</a>, a Chinese AI unicorn valued at $4 billion. The suit, alleging "willful and brazen" copyright infringement, accuses MiniMax of disregarding U.S. copyright law by treating the studios' copyrighted characters as if those were its own.



Far more than just another corporate dust-up, this suit signals the opening of a new front in a high-stakes battle over who will shape and profit from the future of creative AI content. For investors, it offers new perspectives on what types of AI companies might make for solid bets in the midst of these types of legal battles. &nbsp;



<h2 class="wp-block-heading">The MiniMax Affair: IP Violations and Willful Infringement</h2>



The case centers on MiniMax's <a href="https://hailuoai.video/" target="_blank" rel="noreferrer noopener nofollow">Hailuo AI platform</a>, which offers users the ability to generate high-quality, on-demand video mashups starring instantly recognizable film characters from Darth Vader to Marvel superheroes. MiniMax's Hailuo platform aggressively promoted itself as a "Hollywood studio in your pocket," letting its 157 million global users prompt the creation of videos featuring trademarked characters, costumes, and scenes from Mickey Mouse, Minions, and beyond.



<figure class="wp-block-video"><video controls src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/09/18043709/Hailuo_Video_micky-mouse-in-a-hot-air-ballo_424940172378284034.mp4"></video></figure>



Source: Hailuo-Generated by Andre Bourque



Not only did MiniMax commercialize content built on Hollywood's intellectual property, but it also advertised with those same protected icons. The company even overlaid their own branding onto the auto-generated works. 



Hollywood's response has been swift and severe. The studios are seeking up to $150,000 per instance of IP infringement and have highlighted MiniMax's disregard for multiple cease-and-desist letters as evidence of willful, and now legally actionable, copyright violations.



<h2 class="wp-block-heading">A Broader Trend: Copyright Wars Escalate</h2>



The MiniMax suit is the latest flare-up in what many are calling the "copyright wars of the AI age." Earlier this year, <a href="https://variety.com/2025/digital/news/disney-nbcuniversal-studio-lawsuit-ai-midjourney-copyright-infringement-1236428188/" target="_blank" rel="noreferrer noopener nofollow">Disney and Universal sued image generator Midjourney</a>. In the online media realm, <a href="https://www.benzinga.com/news/legal/25/06/46166993/east-vs-west-the-ai-data-battle-between-publishers-and-llms" target="_blank" rel="noreferrer noopener">The New York Times went after Open AI</a> for using its proprietary content to train its LLM platform.



The rationale is clear: Creators are moving aggressively to halt the unchecked use of their IP as large language and generative media models threaten to erode the core creative value proposition. For Hollywood, what&#8217;s at stake is a film industry that contributes <a href="https://www.motionpictures.org/research-docs/the-american-motion-picture-and-television-industry-creating-jobs-trading-around-the-world-6/#:~:text=January%2007%2C%202025,by%20the%20Motion%20Picture%20Association." target="_blank" rel="noreferrer noopener nofollow">more than $260 billion</a> to the U.S. economy each year.



<h2 class="wp-block-heading">Hollywood's Counteroffensive Strategies</h2>



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1024" height="649" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/09/18050225/Hollywood-AI-fighting-andrebourque.jpg" alt="" class="wp-image-19062" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/09/18050225/Hollywood-AI-fighting-andrebourque.jpg 1024w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/09/18050225/Hollywood-AI-fighting-andrebourque-300x190.jpg 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/09/18050225/Hollywood-AI-fighting-andrebourque-768x487.jpg 768w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



Source: AI-Generated by Andre Bourque



To defend its creative and economic interests, Hollywood has launched a multi-faceted counteroffensive aimed at setting industry-wide standards and ensuring the protection of intellectual property in the age of advanced AI.



First and foremost, legal action remains a pivotal strategy. The high-profile lawsuit against China's MiniMax exemplifies Hollywood's resolve to establish clear legal precedents that require AI companies to secure proper licenses before training on copyrighted material. These courtroom battles are intended not only to secure direct compensation but to send a strong deterrent message to other AI startups and tech giants globally.



Secondly, the industry is asserting regulatory leadership. Landmark agreements like the Writers Guild of America's 2023 contract have <a href="https://www.wga.org/contracts/know-your-rights/artificial-intelligence" target="_blank" rel="noreferrer noopener nofollow">introduced sweeping AI protections</a> for writers and creative workers, establishing frameworks that are now serving as models for labor negotiations and regulatory policies across the world. This proactive stance extends Hollywood's influence into policy-making, encouraging governments to legislate on behalf of content creators in the face of rapid technological change.



A third front in the battle is technological innovation. Major studios are investing in and adopting new tools to safeguard original works. These include blockchain-based provenance systems, which provide traceable ownership and licensing data for creative assets, and AI-driven solutions like "Trace ID" that can automatically detect and flag unauthorized uses or deepfakes based on visual or audio signatures. By leveraging technology, Hollywood aims to both track and prevent the misuse of their IP in real time.



Beyond these, strategic partnerships and clean-room AI platforms have emerged as a critical defensive strategy. Hollywood is increasingly aligning with AI companies such as Adobe, which touts its Firefly product as being trained only on licensed or public domain material, and forming alliances with legaltech firms specializing in compliance and content-rights management. These collaborations foster the development of "clean-room" AI models that respect copyright law from the ground up.



<h2 class="wp-block-heading">What This Means for AI Investors</h2>



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1024" height="649" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/09/18051826/Investor-Outlook-andrebourque.jpg" alt="" class="wp-image-19064" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/09/18051826/Investor-Outlook-andrebourque.jpg 1024w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/09/18051826/Investor-Outlook-andrebourque-300x190.jpg 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/09/18051826/Investor-Outlook-andrebourque-768x487.jpg 768w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



Source: AI-Generated by Andre Bourque



Collectively, these strategies not only reinforce Hollywood's role as a guardian of creative rights but also influence the AI investment landscape, steering capital toward companies and technologies that prioritize legal compliance, robust protection of intellectual property, and sustainable partnerships across the creative economy. 



Examples include:



<figure class="wp-block-image aligncenter size-full"><img loading="lazy" decoding="async" width="727" height="351" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/09/18054747/Hollywood-Investment-Table-andrebourque.png" alt="" class="wp-image-19066" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/09/18054747/Hollywood-Investment-Table-andrebourque.png 727w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/09/18054747/Hollywood-Investment-Table-andrebourque-300x145.png 300w" sizes="(max-width: 727px) 100vw, 727px" /></figure>



Source: Created by Andre Bourque



<h3 class="wp-block-heading">1. Clean-Room/Legally Licensed AI Platforms</h3>



As legal risks intensify for firms training AI models on unlicensed data, the future of the industry will demand that companies prove their platforms are developed using "clean" or fully licensed content. This shift creates significant opportunities for businesses that focus exclusively on utilizing licensed or public domain material, as exemplified by OpenAI's agreement with News Corp and Anthropic's recent settlements. 



Additionally, there is growing potential for providers of specialized copyright-detecting and monitoring software, as well as "AI model audit" services, all of which enable the verification and ongoing oversight of training data to ensure robust legal compliance in the evolving AI landscape.



<h3 class="wp-block-heading">2. AI Content IP Management &amp; Protection</h3>



As intellectual property emerges as a critical battleground in the age of AI, startups specializing in assisting media companies to track, license, and protect their digital assets are becoming indispensable; this rapidly growing landscape presents major opportunities for businesses offering blockchain-based digital rights management (DRM) solutions such as Hidden Pixels, platforms leveraging technologies like deepfake and provenance detection exemplified by "Trace ID" solutions, and innovative AI-powered copyright enforcement and litigation tools, all of which address the mounting challenges of safeguarding creative content and ensuring compliance in an increasingly automated, AI-driven world.



<h3 class="wp-block-heading">3. AI Cloud Infrastructure Providers</h3>



As Western governments and major conglomerates invest billions in new data centers and robust cloud infrastructure to ensure compliant AI training and deployment on the global stage, significant opportunities are arising for key players in this evolving landscape: major cloud providers like Microsoft Azure, Google Cloud, and Amazon AWS who are now prioritizing AI-focused services; infrastructure and niche data center REITs that support the growing needs of AI workloads; and innovative startups developing privacy-preserving cloud AI solutions or specialized model isolation technologies that safeguard data protection and regulatory compliance, positioning them at the forefront of the next phase in secure and scalable artificial intelligence development.



<h3 class="wp-block-heading">4. AI-Powered Creative Tools Legitimized</h3>



As demand for AI-assisted creative production continues to surge, the future will increasingly favor platforms that offer transparent licensing, robust partnerships, and strong protections for actors and creators; this market evolution creates compelling opportunities for generative AI startups that secure exclusive content deals, the development of "Hollywood-compliant" tools for generating video, audio, and images, and SaaS platforms designed to help studios, agencies, and advertising firms efficiently streamline the process of producing fully compliant content, thereby enabling creative industries to harness AI's capabilities without running afoul of copyright or talent protections.



<h3 class="wp-block-heading">5. Semiconductor &amp; AI Chipmakers (with Western Exposure)</h3>



The ongoing US-China chip wars highlight the critical need for next-generation, export-compliant AI hardware, opening up significant opportunities for US and EU-headquartered chip designers and fabricators such as Nvidia, AMD, Intel, ASML, and TSMC, while also driving demand for companies specializing in AI accelerators and advanced security chips; at the same time, startups focused on energy-efficient or privacy-first semiconductor solutions are uniquely positioned to support the industry&#8217;s pivot towards secure, regulatory-compliant, and high-performance AI infrastructure in an increasingly complex geopolitical landscape.



<h3 class="wp-block-heading">6. IP-Rich Content Owners &amp; Partnerships</h3>



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="999" height="515" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/09/18163104/Disney-NYT-andrebourque-1.jpg" alt="" class="wp-image-19145" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/09/18163104/Disney-NYT-andrebourque-1.jpg 999w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/09/18163104/Disney-NYT-andrebourque-1-300x155.jpg 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/09/18163104/Disney-NYT-andrebourque-1-768x396.jpg 768w" sizes="(max-width: 999px) 100vw, 999px" /></figure>



Source: AI-Generated by Andre Bourque



Studios and intellectual property owners that can license their content at scale to AI firms are positioned to unlock significant new revenue streams, particularly as demand for high-quality, licensed training data intensifies; this creates valuable opportunities for film, music, comic, and gaming studios with extensive content catalogs, such as Disney, Universal Music Group, Warner Bros Discovery, and even The New York Times, while also fueling growth for firms specializing in brokering new AI-era licensing deals, which help bridge the gap between creative rights holders and technology companies eager for compliant, premium content.



<h3 class="wp-block-heading">7. Legaltech &amp; Regulatory Compliance AI</h3>



As the regulatory landscape surrounding AI evolves at a rapid pace, businesses face increasing pressure to maintain global compliance, driving strong opportunities for AI-powered legal research platforms, advanced regulatory compliance and contract management tools, and risk monitoring solutions; furthermore, specialized services focused on international intellectual property law and audit for AI are becoming essential, enabling companies to navigate complex legal frameworks, mitigate potential risks, and ensure their operations align with the latest requirements across jurisdictions worldwide.



<h2 class="wp-block-heading">Looking Forward</h2>



The MiniMax lawsuit is more than a dispute over beloved cartoon characters. It's a flashpoint in a much larger struggle for creative, technological, and cultural dominance worldwide. Will the next generation of artificial intelligence be constructed on the back of stolen IP, or founded on legitimate partnerships and investment? 



The answer will determine not just Hollywood&#8217;s future, but the very fabric of digital culture and ownership for decades to come. The gauntlet has been thrown. Hollywood has drawn a line in the sand, and the world is watching to see who will control the next frontier of creativity in the AI age.



The key for investors is to focus on companies and technologies that are proactively addressing the new legal, ethical, and geopolitical realities of AI. Compliance, partnership, and infrastructure will define the winners of this new era. My advice: avoid firms exposed to unresolved copyright or regulatory risks.



Feature Image: AI-Generated by Andre Bourque



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

Entertainment

Hollywood Takes On China's MiniMax: An AI Copyright Clash Investors Shouldn't Ignore

The Federal Reserve may have delivered its first rate cut in nine months on Wednesday — but according to Goldman Sachs, it likely <a href="https://www.benzinga.com/markets/economic-data/25/09/47723450/federal-reserve-interest-rate-decision-september-2025-dot-plot-economic-projections">won't be the last. </a>



In a new note to clients on Thursday, Goldman Sachs chief U.S. economist David Mericle said the Fed's 25-basis-point cut to a target range of 4.00%–4.25% is the opening move in what could become a sustained easing cycle, as economic risks shift from inflation to employment. 



"We continue to expect 25bp cuts in October and December — with a 50bp cut possible if the labor market weakens more than we expect," Mericle wrote. He added that two more cuts in 2026 could bring rates down to 3.00%–3.25%.



<h2 class="wp-block-heading">September Cut Signals A Series </h2>



Mericle highlighted five key takeaways from the September FOMC meeting that support his case for continued rate reductions.



<ol class="wp-block-list">
<li>The "dots" point lower: The Fed's updated Summary of Economic Projections (SEP) showed a median forecast for three rate cuts this year, outpacing Goldman's expectation of two. That 10-9 split in favor of more aggressive easing, Mericle said, likely reflects the influence of Fed leadership reacting to softer labor data.</li>



<li>Familiar dovish language is back: The FOMC's statement mirrored the tone used in September 2024 and at Powell's Jackson Hole speech — both moments that preceded consecutive rate cuts. Phrases like "job gains have slowed" and "downside risks to employment have risen" show the Fed is growing increasingly concerned about the labor market.</li>



<li>Powell is focused on the labor market — especially vulnerable groups: The Fed Chair acknowledged that while overall unemployment remains low, the labor market is cooling. He specifically highlighted rising challenges for minorities, young workers, and a cyclical decline in labor force participation — echoing the Fed's tone before its 2019 "insurance cut" cycle.</li>



<li>This was a "risk management" cut — and those don't come alone: Powell described Wednesday's decision as a precautionary step in response to downside risks. Mericle noted that similar moves in the past have usually been followed by consecutive cuts, not stand-alone actions.</li>



<li>Powell stressed the full path matters: In a nod to the bond market's expectations, Powell said the economic impact of rate cuts depends not just on today's move but on the path ahead — signaling a willingness to meet market expectations if downside risks persist.</li>
</ol>



<h2 class="wp-block-heading">What Could Accelerate The Pace Of Cuts?</h2>



While Goldman's base case includes 25bp cuts in both October and December, Mericle flagged that a larger 50bp cut could come if labor market data deteriorates more rapidly than expected.



That would mirror past Fed strategies — notably in 2019, when the Fed front-loaded its easing cycle as downside risks intensified.



Goldman's projected policy path remains slightly more dovish than current market pricing, suggesting traders may still be underestimating the Fed's willingness to cut.



Still, Mericle emphasized that while the Fed isn't panicking, its tone has clearly shifted.



"The strong vote for the 25-basis-point cut suggests that members, while acknowledging that downside risks to the job market have increased, are not panicking about the state of the economy," he wrote.



Speculators are currently pricing in an 88% probability of another Fed rate cut in October, and a 75% chance of a follow-up cut in December, according to the CME FedWatch Tool.



With the October FOMC meeting just weeks away, the focus now shifts to incoming labor market and inflation data. If job growth continues to slow or unemployment ticks higher, the Fed may be compelled to act again — especially if inflation stays contained.



Read Next:



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<li><a href="https://www.benzinga.com/markets/economic-data/25/09/47738832/mortgage-interest-rates-federal-reserve-refinancing-real-estate-stocks">This Mortgage Boom Didn&#8217;t Even Wait For The Fed To Say &#8216;Cut</a>&#8216;</li>
</ul>



Image created using artificial intelligence via Midjourney.

The Fed's Just Warming Up — Goldman Sachs Sees More Rate Cuts Coming

The Russell 2000, which tracks small caps, rallied on Thursday, outpacing large-cap benchmarks as investors piled into interest-rate-sensitive stocks a day after the Federal Reserve cut rates by 25 basis points and <a href="https://www.benzinga.com/markets/economic-data/25/09/47723450/federal-reserve-interest-rate-decision-september-2025-dot-plot-economic-projections">signaled more easing ahead.</a>



All three major large-cap indexes hit fresh records: the S&amp;P 500 rose to 6,650, the Dow Jones Industrial Average climbed to 46,200, and the tech-heavy Nasdaq 100 jumped 1.3% to 24,550.



Tech stocks led the charge. Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) skyrocketed 29%—its best single-day gain on record—after Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) pledged a $5 billion investment to co-develop PC and data center chips. 



CrowdStrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) rallied 10.6% after unveiling long-term AI initiatives and revenue targets, forecasting annual recurring revenue growth above 20% by fiscal 2027.



Sector-wise, technology and industrials outperformed, while consumer staples lagged. Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) gained 7% as cryptocurrencies rallied on rate-cut optimism. 



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose more than 1% to $118,000, its highest level in a month, while Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) jumped 4.5%, returning to levels last seen in late January 2025.



<h2 class="wp-block-heading">Small Caps Beat Large Caps</h2>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Major Indices</td><td>Price</td><td>1-day %chg</td></tr><tr><td>Russell 2000</td><td>2,458.77</td><td>2.2%</td></tr><tr><td>Nasdaq 100</td><td>24,544.27</td><td>1.3%</td></tr><tr><td>S&amp;P 500</td><td>6,647.85</td><td>0.7%</td></tr><tr><td>Dow Jones</td><td>46,217.94</td><td>0.4%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 12:37 p.m. ET</figcaption></figure>



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



<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) rose 0.7% to $610.52.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) inched 0.5% higher to $463.70.</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>)&nbsp;rallied 1.3% to $597.50.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) soared 2.3% to $244.27.</li>



<li>The&nbsp;Technology&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up 1.9%; the&nbsp;Consumer Staples&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) lagged, down 0.7%.</li>
</ul>



<h2 class="wp-block-heading">S&amp;P 500&#8217;s Top 5 Gainers On Thursday</h2>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Stock Name</th><th>% Change</th></tr></thead><tbody><tr><td>Intel Corp.</td><td>+28.12%</td></tr><tr><td>CrowdStrike Holdings</td><td>+10.97%</td></tr><tr><td>Synopsys Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>)</td><td>+10.56%</td></tr><tr><td>KLA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>)</td><td>+8.55%</td></tr><tr><td>Coinbase Global </td><td>+8.18%</td></tr></tbody></table></figure>



<h2 class="wp-block-heading">S&amp;P 500&#8217;s Top 5 Losers On Thursday</h2>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Stock Name </th><th>% Change</th></tr></thead><tbody><tr><td>Darden Restaurants (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>)</td><td>-8.90%</td></tr><tr><td>FactSet Research Systems (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDS#NYSE">FDS</a>)</td><td>-6.48%</td></tr><tr><td>Nucor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>)</td><td>-5.10%</td></tr><tr><td>S&amp;P Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPGI#NYSE">SPGI</a>)</td><td>-4.44%</td></tr><tr><td>MSCI Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSCI#NYSE">MSCI</a>)</td><td>-2.91%</td></tr></tbody></table></figure>



Now Read:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/economic-data/25/09/47741120/federal-reserve-policy-outlook-goldman-sachs-sees-more-rate-cuts-coming">The Fed&#8217;s Just Warming Up — Goldman Sachs Sees More Rate Cuts Coming</a></li>
</ul>



Image: Shutterstock

Small Cap Analysis

COIN

KLAC

MSCI

SPGI

Small Caps Rally, Intel Rockets On Best Day Ever: What's Moving Markets Thursday?

The U.S. mortgage market is experiencing a resurgence not seen in years, as a sharp drop in borrowing costs prompted a wave of refinancing activity ahead of the Federal Reserve's widely expected interest rate cut—signaling that homeowners aren't waiting for policy confirmation <a href="https://www.benzinga.com/markets/economic-data/25/09/47723450/federal-reserve-interest-rate-decision-september-2025-dot-plot-economic-projections">to lock in savings.</a>



During the week ending Sept. 12, total mortgage application volume jumped 29.7% from the prior week, according to new data from the Mortgage Bankers Association (MBA). 



That's the largest weekly gain since January and the second-sharpest increase since the historic rate collapse during the COVID-19 crisis in March 2020.



<h2 class="wp-block-heading">Refi Frenzy Breaks Out as Mortgage Rates Fall</h2>



The surge coincided with a notable 10 basis point drop in the benchmark 30-year fixed mortgage rate, which fell to 6.39%, the lowest level in nearly a year. Refinancing activity led the wave, with the MBA's Mortgage Refinance Index skyrocketing 57.7% to 1,596.7, from 1,012.4 the week prior—its highest reading since March 2022. 



According to MBA chief economist Mike Fratantoni, this move shows borrowers are moving ahead of monetary policy in anticipation of lower rates.



"Homeowners responded swiftly, with refinance application volume jumping almost 60 percent compared to the prior week," Fratantoni said. 



"Homeowners with larger loans jumped first, as the average loan size on refinances reached its highest level in the 35-year history of our survey," he added.



<h2 class="wp-block-heading">Chart: Mortgage Refinance Index Rockets Ahead Of Fed Rate Move</h2>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="557" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/09/18091655/image-316-1024x557.png" alt="" class="wp-image-1076807" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/09/18091655/image-316-1024x557.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/09/18091655/image-316-300x163.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/09/18091655/image-316-768x417.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/09/18091655/image-316-1536x835.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/09/18091655/image-316-2048x1113.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h2 class="wp-block-heading">Market Moved Ahead Of The Fed </h2>



Fratantoni highlighted that the bond market, which sets long-term mortgage rates, reacted early to the Federal Reserve's dovish tilt. 



Despite the Fed only officially cutting rates by 25 basis points to 4.00%-4.25% on Wednesday, Treasury yields and mortgage rates had already begun their descent. 



"Mortgage rates, along with longer-term Treasuries moving in advance of this dovish shift in monetary policy, reached their lowest point for the year last week," he said. 



"If mortgage rates hold at these levels, origination activity will be boosted, both for homeowners who purchased in the last three years and for potential homebuyers." 



<h2 class="wp-block-heading">Fed Signals More Cuts Ahead </h2>



In its updated projections, the Fed signaled two additional cuts in 2025 and another in 2026, while also acknowledging a weaker labor market. 



Fratantoni described the policy move as measured, highlighting the Fed's effort to support employment without triggering panic about economic conditions. 



Though the 25-basis-point rate cut was not unanimous—with Trump-appointed Fed Governor Stephen Miran favoring a larger 50-basis-point move—the majority of policymakers supported the gradual approach. 



With mortgage rates easing and expectations for further rate cuts building, refinancing could remain strong through year-end. 



The combination of rising housing inventory, more favorable borrowing costs, and an improving economic backdrop may also breathe new life into the purchase market, which has struggled under the weight of 20-year high mortgage rates over the past two years.



<h2 class="wp-block-heading">Market Reactions: Real Estate Stocks Still Stuck</h2>



Despite the mortgage surge, real estate stocks have yet to reflect the improving rate environment.



The Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) has fallen for four straight sessions through Wednesday and is up just 3% year-to-date, significantly underperforming the broader market. For comparison, the Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) has rallied nearly 12% in the same period.



The residential real estate sector has fared even worse. The Residential REIT ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAUS#NYSE">HAUS</a>) is down 8% year-to-date, while the iShares Residential and Multisector Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REZ#NYSE">REZ</a>) is broadly flat.



Investor sentiment toward property stocks remains cautious, with many waiting for tangible signs of rent stabilization, occupancy growth, and more clarity on the Fed's next moves. But if lower rates persist and the refinance boom lifts housing demand, real estate equities may be poised for a long-overdue rebound.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/25/09/47717035/sp500-historical-performance-federal-reserve-interest-rate-cuts">History Warns: S&amp;P 500 Often Slips After Fed Rate Cuts</a></li>
</ul>



Photo: bilanol/shutterstock

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This Mortgage Boom Didn't Even Wait For The Fed To Say 'Cut'

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