SPIKES Volatility Index (Settlement value) (XMIO: SPKCS)

Ultime notizie per SPIKES Volatility Index (Settlement value) (XMIO:SPKCS)

SPIKES Volatility Index (Settlement value)

RBC Capital analyst Sabahat Khan reiterates Tetra Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTEK#NASDAQ">TTEK</a>) with a Outperform and maintains $52 price target.

News

Price Target

Reiteration

Analyst Ratings

TTEK

RBC Capital Reiterates Outperform on Tetra Tech, Maintains $52 Price Target

PepsiCo Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) shares are trading lower by 3.75% to $158.97 Friday afternoon. Shares of beverage and packaged food stocks are trading lower after President-elect Donald Trump indicated he would nominate Robert F. Kennedy Jr. to <a href="https://www.benzinga.com/government/regulations/24/11/41993115/trump-taps-rfk-jr-for-health-secretary-role-sends-5-vaccine-stocks-lower">lead the HHS</a>.
What To Know: Kennedy's history of criticizing corporate influence on public health has raised concerns about potential regulatory shifts targeting key sectors of PepsiCo&#8217;s diversified business.
As a global leader in beverages and snacks, PepsiCo's portfolio includes sugary soft drinks, such as Pepsi and Mountain Dew, alongside snacks like Doritos and Lay's, as well as healthier offerings under brands like Quaker and Naked Juice. 
Analysts warn that Kennedy's stance on the &#8220;industrial food complex&#8221; could lead to stricter rules on sugar content, marketing practices, and nutritional labeling.
With U.S. consumers already <a href="https://www.benzinga.com/general/biotech/24/07/39656549/exclusive-glp-1-weight-loss-drugs-could-become-a-trillion-dollar-market-predicts-tema-etfs-ceo">gravitating toward healthier options</a>, any heightened regulatory scrutiny on sugary beverages and processed snacks could pressure PepsiCo's core businesses. In addition, possible restrictions on marketing to children, a key demographic for many of its products, could further impact growth.
Read Also: <a href="https://www.benzinga.com/news/retail-sales/24/11/42008180/october-retail-sales-top-expectations-as-us-consumers-increase-tech-spending">October Retail Sales Top Expectations As US Consumers Increase Tech Spending</a>
<h2 class="wp-block-heading">How To Buy PEP Stock</h2>
Besides going to a brokerage platform to purchase a share &#8211; or fractional share &#8211; of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument. 
For example, in PepsiCo&#8217;s case, it is in the Consumer Staples sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, PEP has a 52-week high of $183.39 and a 52-week low of $158.03.

Why Pepsi Stock Is Falling

Loop Capital analyst Jeffrey Stevenson maintains BrightView Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BV#NYSE">BV</a>) with a Buy and raises the price target from $18 to $20.

Loop Capital Maintains Buy on BrightView Hldgs, Raises Price Target to $20

DA Davidson analyst Michael Shlisky maintains Miller Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLR#NYSE">MLR</a>) with a Buy and maintains $82 price target.

DA Davidson Maintains Buy on Miller Industries, Maintains $82 Price Target

RBC Capital analyst Luca Issi reiterates bluebird bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLUE#NASDAQ">BLUE</a>) with a Sector Perform and maintains $4 price target.

BLUE

RBC Capital Reiterates Sector Perform on bluebird bio, Maintains $4 Price Target

Maxim Group analyst Jason McCarthy maintains Belite Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLTE#NASDAQ">BLTE</a>) with a Buy and raises the price target from $60 to $110.

BLTE

Maxim Group Maintains Buy on Belite Bio, Raises Price Target to $110

In the tech world, few <a href="https://www.benzinga.com/markets/24/10/41457050/bill-gates-once-said-he-was-so-jealous-of-apples-steve-jobs-and-labeled-him-a-genius-and-wizard-no-o">rivalries are as legendary</a> as that between Apple's Steve Jobs and <a href="https://www.benzinga.com/general/education/24/10/41580000/bill-gates-turns-69-5-things-you-might-not-know-about-microsoft-co-founder">Microsoft's Bill Gates</a>. The two pioneers changed the personal computer industry and how we use technology by pushing the envelope in their special ways for decades. However, when asked about his relationship with Gates in a rare joint interview, Jobs didn&#8217;t respond with competitiveness or rivalry – instead, he quoted a line from a Beatles song.
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<li>The global games market is projected to generate $272B by the end of the year —<a href="https://www.benzinga.com/money/gameflip"> for $0.55/share, this VC-backed startup with a 7M+ userbase gives investors easy access to this asset market.</a></li>
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During the 2007 <a href="https://www.youtube.com/watch?v=wvhW8cp15tk">interview</a>, Jobs and Gates reminisced about their long history in the industry. They laughed, remembering their early years when they were frequently the youngest in the room. Gates noted how it was always wonderful to see someone like Jobs persevere through the many challenges and trends offered by the rapidly changing computer sector.&nbsp;
Jobs, known for his passion for music, quoted The Beatles' reflective line: "You and I have memories longer than the road that stretches out ahead,&#8221; before adding, &#8220;And that&#8217;s clearly true here.&#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">When Steve Jobs was asked about his relationship with competitor and business rival, Bill Gates, he answered with a lyric from this reflective Beatles song: <a href="https://t.co/CovfClpMim">pic.twitter.com/CovfClpMim</a>
&mdash; The Beatles Earth (@BeatlesEarth) <a href="https://twitter.com/BeatlesEarth/status/1856357686956237143?ref_src=twsrc%5Etfw">November 12, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Trending: ‘Scrolling to UBI': Deloitte's #1 fastest-growing software company allows users to earn money on their phones –<a href="https://www.benzinga.com/money/mode-mobile-2"> invest today with $1,000 for just $0.25/share</a>
The lyric from The Beatles' "Two of Us" <a href="https://www.youtube.com/watch?v=cLQox8e9688">song</a> perfectly captured the sentiment. For all their competition, Jobs and Gates shared a deep mutual respect. The song is about friendship, shared memories and a sense of journey – and that's exactly how Jobs saw his connection with Gates. After all, they'd both been through the ups and downs of building billion-dollar companies, watching trends come and go and surviving the intense pressures of leading groundbreaking tech firms.
It was a moment that showed the softer side of their relationship and that despite being rivals, Jobs and Gates weren't just competing tech CEOs – they were two individuals who'd shared a unique journey in an industry they helped to shape. Their antagonism had subsided into camaraderie based on mutual knowledge of what it required to get to where they were, shared experiences and the <a href="https://www.benzinga.com/personal-finance/24/10/41340693/bill-gates-saved-rival-apple-from-bankruptcy-by-investing-150-million-steve-jobs-thanked-him-pub">rare act of cooperation</a>.
See Also: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a>
Back in the late '70s and early '80s, Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) was working hard to get its personal computers into homes, schools and offices, aiming to make computers friendly, accessible and even stylish. Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), on the other hand, was all about software under Gates&#8217; direction. Gates aimed to install Microsoft&#8217;s operating system on as many machines as possible, including IBM, Apple&#8217;s main rival. And a long-standing rivalry was sparked by this action.&nbsp;
Microsoft's Windows operating system, <a href="https://www.benzinga.com/tech/24/11/41872487/bill-gates-introduced-windows-41-years-ago-today-heres-how-much-youd-have-if-you-invested-1000-in-microsoft-when-it-went-public">introduced in 1983</a>, was strikingly similar to Apple's Mac OS and Jobs was not happy about it. He famously accused Gates of copying Apple&#8217;s interface, saying that Microsoft had no shame in borrowing ideas.
Ultimately, this brief Beatles reference from Jobs was a reminder of the humanity behind the industry giants. For those who grew up with either an Apple device or Microsoft software – most of us have used both – their partnership and rivalry have always felt like a part of our own experience with technology.
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<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target –<a href="https://www.benzinga.com/money/mode-mobile-2"> You can still get 4,000 of its pre-IPO shares for just $1,000</a></li>
</ul>

Startups

AAPL

MSFT

When Asked About His Business Rivalry With Bill Gates, Steve Jobs Replied With A Beatles Lyric From This Reflective Song

U.S. stocks traded lower midway through trading, with the S&amp;P 500 falling by over 1% on Friday.
The Dow traded down 0.90% to 43,356.00 while the NASDAQ fell 2.26% to 18,676.22. The S&amp;P 500 also fell, dropping, 1.42% to 5,864.40.
Check This Out: <a href="https://www.benzinga.com/24/11/42005109/top-4-utilities-stocks-that-may-keep-you-up-at-night-this-quarter">Top 4 Utilities Stocks That May Keep You Up At Night This Quarter</a>
Leading and Lagging Sectors Energy shares rose by 0.4% on Friday.
In trading on Friday, information technology shares fell by 1.9%.
Top Headline
U.S. retail sales rose 0.4% month-over-month in October compared to a revised 0.8% increase in September, and toping market estimates of 0.3%.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>The Arena Group Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AREN#NYSE">AREN</a>) shares shot up 232% to $1.89 after it announced its first ever profitable quarter.</li>
<li>Shares of Bloom Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BE#NYSE">BE</a>) got a boost, surging 49% to $19.80. Bloom Energy announced a 1 GW fuel cell deal with AEP, providing clean power for AI Data Centers.</li>
<li>Simpple Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPPL#NASDAQ">SPPL</a>) shares were also up, gaining 90% to $1.6601 after the company announced a $400,000 contract to supply autonomous cleaning robots at Singapore&#8217;s International Airport Terminal.</li>
</ul>
Equities Trading DOWN
<ul>
<li>TFF Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TFFP#NASDAQ">TFFP</a>) shares dropped 78% to $0.3581 after the company announced it will wind down its operations.</li>
<li>Shares of Eyenovia, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EYEN#NASDAQ">EYEN</a>) were down 73% to $0.0932 after the company announced that its CHAPERONE trial is not meeting its primary endpoint, prompting the discontinuation of the study and a review of the full data set to evaluate next steps for the program.</li>
<li>Ryvyl Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RVYL#NASDAQ">RVYL</a>) was down, falling 33% to $1.1724 after the company reported worse-than-expected third-quarter financial results and cut its FY24 sales guidance.</li>
</ul>
Commodities In commodity news, oil traded down 0.5% to $68.35 while gold traded up 0.2% at $2,579.20.
Silver traded up 0.7% to $30.79 on Friday, while copper rose 0.8% to $4.1220.
Euro zone
European shares were mostly lower today. The eurozone's STOXX 600 fell 0.58%, Germany's DAX fell 0.16% and France's CAC 40 fell 0.26%. Spain's IBEX 35 Index gained 0.82%, while London's FTSE 100 fell 0.06%.
The annual inflation rate in Italy increased to 0.9% in October versus 0.7% in the prior month, while France&#8217;s annual inflation rate rose to 1.2% in October. The GDP in the UK grew by 1% year-over-year during the third quarter.
Asia Pacific Markets
Asian markets closed lower on Friday, with Japan's Nikkei 225 gaining 0.28%, Hong Kong's Hang Seng Index falling 0.05% and China's Shanghai Composite Index dipping 1.45%.
Hong Kong's economy expanded by 1.8% year-over-year in the third quarter compared to a 3.2% increase in the previous period. China&#8217;s retail sales rose by 4.8% year-over-year in October, while industrial production rose by 5.3% year-over-year in October.
Economics
<ul>
<li>The NY Empire State Manufacturing Index surged to 31.2 in November versus -11.9 in the previous month and topping market estimates of -0.7.</li>
<li>U.S. export prices increased by 0.8% in October, while import prices rose by 0.3% month-over-month in October.</li>
<li>U.S. retail sales rose 0.4% month-over-month in October compared to a revised 0.8% increase in September, and toping market estimates of 0.3%.</li>
<li>U.S. industrial production declined by 0.3% in October compared to a revised 0.5% declined in September.</li>
<li>U.S. business inventories rose 0.1% month-over-month in September compared to a 0.3% gain in August and versus market estimates of 0.2%.</li>
</ul>
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<li><a href="https://www.benzinga.com/analyst-ratings/price-target/24/11/42007351/wall-streets-most-accurate-analysts-spotlight-on-3-consumer-stocks-with-over-7-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Spotlight On 3 Consumer Stocks With Over 7% Dividend Yields</a></li>
</ul>

Earnings

Equities

Eurozone

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Intraday Update

Markets

Trading Ideas

AREN

EYEN

RVYL

SPPL

TFFP

S&P 500 Down Over 1%; US Retail Sales Top Expectations

Maxim Group analyst Allen Klee maintains Dolphin Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLPN#NASDAQ">DLPN</a>) with a Buy and lowers the price target from $8 to $5.

DLPN

Maxim Group Maintains Buy on Dolphin Entertainment, Lowers Price Target to $5

RBC Capital analyst Tom Narayan maintains Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) with a Outperform and raises the price target from $249 to $313.

TSLA

RBC Capital Maintains Outperform on Tesla, Raises Price Target to $313

DA Davidson analyst Linda Bolton Weiser maintains Sally Beauty Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SBH#NYSE">SBH</a>) with a Neutral and raises the price target from $12 to $13.

DA Davidson Maintains Neutral on Sally Beauty Holdings, Raises Price Target to $13

Maxim Group analyst Michael Diana maintains FlexShopper (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FPAY#NASDAQ">FPAY</a>) with a Buy and raises the price target from $2 to $4.

FPAY

Maxim Group Maintains Buy on FlexShopper, Raises Price Target to $4

DA Davidson analyst Michael Baker maintains Advance Auto Parts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>) with a Neutral and maintains $45 price target.

DA Davidson Maintains Neutral on Advance Auto Parts, Maintains $45 Price Target

This article was originally published on <a href="https://cannabis.net/blog/news/no-spliff-for-you-rescheduling-cannabis-could-allow-for-hemp-tobacco-cigarettes-but-not-weed-an">Cannabis.net</a> and appears here with permission.
Marijuana rescheduling could permit CBD from hemp in tobacco, but not weed!
A recent report from the Congressional Research Service (CRS) has ignited discussions about the potential for incorporating hemp-<a href="https://cannabis.net/blog/medical/study-says-cbd-could-be-your-way-out-of-a-tobacco-addiction">derived cannabidiol (CBD) into tobacco products</a>, contingent upon the anticipated rescheduling of marijuana. As public perceptions of cannabis evolve and regulatory frameworks shift, this development could have profound implications for both the cannabis and tobacco industries, as well as for public health initiatives aimed at reducing smoking-related harm.
<h3>Understanding&nbsp;The Context Of Marijuana Rescheduling</h3>
Historically, marijuana has been classified as a Schedule I substance under the Controlled Substances Act (CSA), indicating that it is viewed as having no accepted medical use and a high potential for abuse. However, with growing evidence supporting the medicinal benefits of cannabis and changing public perceptions, there has been increasing momentum toward rescheduling marijuana. In August 2023, the Department of Health and Human Services (HHS) recommended that marijuana be reclassified to Schedule III, which would acknowledge its medical applications and significantly alter the regulatory landscape surrounding cannabis.
<h3>Implications Of Rescheduling</h3>
If marijuana is rescheduled to Schedule III, it would not only ease restrictions on research and development but also open new avenues for product innovation. According to the CRS report, while marijuana itself would still be prohibited in food, dietary supplements, or cosmetics,&nbsp;<a href="https://cannabis.net/blog/smoke/are-cbd-cigarettes-the-middle-ground-between-cannabis-and-tobacco">hemp-derived CBD could be used as an additive in tobacco</a>&nbsp;products without violating federal law. This distinction is crucial because it allows manufacturers to explore new formulations that combine the non-psychoactive properties of&nbsp;<a href="https://cannabis.net/blog/smoke/what-is-the-difference-between-a-spliff-a-joint-and-a-blunt-cannabis-101">CBD with traditional tobacco.</a>
<h3>The Rise Of CBD&nbsp;And Its Potential Benefits</h3>
CBD, or cannabidiol, is one of over 100 cannabinoids found in the cannabis plant. Unlike&nbsp;<a href="https://cannabis.net/blog/medical/what-is-thc-exactly-now-that-you-know-all-about-cbd">THC (tetrahydrocannabinol)</a>, which is responsible for the psychoactive effects commonly associated with marijuana, CBD does not produce a high. Instead, it has gained immense popularity due to its purported health benefits, including anxiety reduction, pain relief, anti-inflammatory properties, and potential neuroprotective effects.
As consumers become more health-conscious and seek alternatives to traditional pharmaceuticals, CBD has emerged as a viable option for many individuals looking to manage various health conditions. Its non-psychoactive nature makes it particularly appealing to those who wish to avoid the intoxicating effects of THC while still benefiting from the therapeutic properties of cannabis.
<h3>Potential Health Benefits Of CBD In Tobacco Products</h3>
<ul>
<li>Reduction in Cravings:&nbsp;By potentially inhibiting nicotine metabolism, CBD may help reduce cravings among smokers trying to quit or cut back on their tobacco use.</li>
</ul>
<ul>
<li>Anxiety Relief:&nbsp;Many smokers use cigarettes as a way to cope with stress or anxiety. Incorporating CBD into tobacco products could provide an alternative method for managing these feelings without resorting solely to nicotine.</li>
</ul>
<ul>
<li>Anti-inflammatory Properties: Research suggests that CBD may have anti-inflammatory effects that could counteract some of&nbsp;the harmful consequences of smoking.</li>
</ul>
<ul>
<li>Harm Reduction: The addition of CBD may make tobacco products less harmful by providing therapeutic benefits that could&nbsp;offset some negative health impacts associated with nicotine consumption.</li>
</ul>
Regulatory Considerations
Despite these promising developments, any products containing CBD would still require marketing authorization from the Food and Drug Administration (FDA) before they can be legally sold. The FDA&rsquo;s role in regulating hemp-derived products is crucial to ensuring consumer safety and product efficacy.
<h3>Public Health Implications</h3>
The potential introduction of CBD into tobacco products raises important public health considerations. While incorporating CBD may reduce some harmful effects associated with traditional smoking, it is crucial to assess whether this combination could inadvertently encourage smoking behavior among new users or young people.
Public health advocates will need to monitor these developments closely to ensure that any new products do not undermine efforts to reduce smoking rates or promote healthier alternatives. Additionally, ongoing research will be necessary to evaluate the long-term effects of using CBD in conjunction with nicotine.
<h3>Current Regulatory Landscape</h3>
As it stands, hemp-derived CBD is legal at the federal level due to the 2018 Farm Bill, which legalized hemp cultivation and removed hemp-derived products containing&nbsp;<a href="https://cannabis.net/blog/opinion/under-0.3-thc-by-net-weight-the-greatest-loophole-in-drug-law-history">less than 0.3% THC from Schedule I classification</a>. However, this legalization does not automatically grant approval for all hemp-derived products; they must still comply with FDA regulations regarding safety and labeling.
The FDA has expressed concerns ove&rdquo; unregulated CBD products flooding the market without proper testing or oversight. As such, manufacturers seeking to incorporate CBD into tobacco products will need to navigate a complex regulatory landscape while ensuring compliance with all applicable laws.
<h3>Potential Challenges Ahead</h3>
While the prospect of combining CBD with tobacco presents exciting opportunities, several challenges remain:
<ol>
<li>
Regulatory Hurdles: The FDA&rsquo;s approval process can be lengthy and complex. Manufacturers will need to demonstrate that their products meet safety standards and provide adequate labeling information.
</li>
<li>
Consumer Education: As CBD-infused tobacco products enter the market, educating consumers about their benefits and potential risks will be essential. Misunderstandings about CBD may lead to skepticism or misuse.
</li>
<li>
Market Competition: The tobacco industry is highly competitive; introducing new products requires significant investment in marketing and distribution channels.
</li>
<li>
Quality Control: Ensuring consistent quality across different batches of CBD-infused tobacco products will be critical for maintaining consumer trust and safety.
</li>
<li>
Public Health Concerns: While integrating CBD into tobacco may offer some benefits, there are concerns that it could inadvertently encourage smoking behavior among new users or young people who might view these products as safer alternatives.
</li>
</ol>
<h3>Conclusion</h3>
The report from the Congressional Research Service highlights a significant shift in how we might view the intersection between cannabis and tobacco industries if marijuana is rescheduled from Schedule I status under federal law. Such changes could pave pathways toward innovative product development incorporating hemp-derived ingredients like cannabidiol (CBD) within traditional smoking contexts&mdash;ultimately reshaping consumer choices while addressing pressing public health concerns related directly tied back towards smoking-related harms.
As stakeholders navigate this evolving landscape&mdash;collaboration between regulators researchers manufacturers&mdash;and public health officials will prove vital moving forward towards creating safe effective options available across diverse populations seeking healthier alternatives amidst ongoing challenges presented by both industries&rsquo; histories intertwined within broader societal contexts surrounding drug policy reform overall! By prioritizing safety efficacy through rigorous research transparent communication consumers, this new frontier product development holds promise leading healthier lifestyles across America&rsquo;s diverse population seeking better choices today.
This article is from an external unpaid contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Cannabis

Government

Regulations

General

Rescheduling Cannabis Could Allow For Hemp Tobacco Cigarettes, But Not Weed And Tobacco Mixtures: No Spliff For You!

<a href="https://www.reuters.com/markets/commodities/china-cut-or-cancel-export-tax-rebates-products-including-aluminium-copper-2024-11-15/">https://www.reuters.com/markets/commodities/china-cut-or-cancel-export-tax-rebates-products-including-aluminium-copper-2024-11-15/</a>
&nbsp;
China's finance ministry said on Friday it would reduce or cancel export tax rebates for a wide range of commodities and other products, effective Dec. 1.
The country will reduce the export tax rebate rate for some refined oil products, photovoltaics, batteries, and certain non-metallic mineral products from 13% to 9%.
It will also cancel the rebate for aluminum and copper products and chemically modified animal, plant, or microbial oils and fats.
The announcement triggered a jump in aluminium prices on the London Metal Exchange as traders anticipated it may curb a heavy flow of Chinese aluminium abroad.
The news also contributed to a sharp rise in U.S. soyoil prices as it appeared Chinese used cooking oil would be covered by the changes.
Chinese shipments of used cooking oil to the <a href="https://www.reuters.com/markets/commodities/trump-trade-policy-seen-wild-card-us-soybean-farmers-opportunity-crushers-2024-11-13/">United States</a> and Europe for use in biofuel have challenged locally produced feedstocks like soyoil.
China's used cooking oil exports typically fall under the customs category of chemically modified animal, plant, or microbial oils and fats category, for which export rebates will be scrapped.

Macro Economic Events

Global

Economics

CENX

KALU

Reported Earlier, 'China To Cut Or Cancel Export Tax Rebates For Products Including Aluminum' - Reuters News

RBC Capital analyst Keith Mackey maintains Helmerich &amp; Payne (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HP#NYSE">HP</a>) with a Sector Perform and lowers the price target from $44 to $41.

RBC Capital Maintains Sector Perform on Helmerich & Payne, Lowers Price Target to $41

<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41819799/polymarket-ceo-on-election-night-it-looked-like-a-done-deal-on-platform-but-just-watching-">Polymarket predictions reveal</a> significant doubt over whether Matt Gaetz will be confirmed as Attorney General in a Trump administration, with current betting odds showing only a 28% chance of approval.
What Happened: The chances of confirmation have been oscillating between 25% and 30%, according to Polymarket <a href="https://polymarket.com/event/matt-gaetz-confirmed-as-attorney-general?tid=1731671553083">traders</a>.
The unconventional nomination has sparked widespread commentary, with former Speaker Kevin McCarthy (R-Calif.) casting <a href="https://www.benzinga.com/24/11/41997181/kevin-mccarthy-says-matt-gaetz-wont-get-confirmed-by-the-senate-and-everybody-knows-that">doubts on Gaetz's chances. </a>
McCarthy, a long-time Trump ally, remarked in an interview with Bloomberg that "Gaetz won't get confirmed. Everybody knows that," suggesting that Gaetz lacks strong support among Senate Republicans due to his divisive history within the party. 
McCarthy's own relationship with Gaetz has been tumultuous, particularly after Gaetz led the charge to oust him as speaker of the House 
Gaetz, known for his libertarian views and advocacy for cryptocurrency, has introduced radical proposals, including a bill to allow federal <a href="https://www.benzinga.com/news/legal/24/11/41956594/matt-gaetz-is-trumps-attorney-general-pick-would-be-top-cop-is-under-house-ethics-investigation">income taxes to be paid in Bitcoin</a>.
His potential nomination as Attorney General is part of Trump's promise to overhaul the Justice Department and address what he calls the <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41964758/trumps-attorney-general-pick-matt-gaetz-once-proposed-collecting-federal-income-taxes-in-bitcoin-apart-from-co-sponsoring-bill-to-abolish-the-fed">"weaponization" of government institutions</a>.
Trump publicly praised Gaetz on his Truth Social account, stating, "Matt will end Weaponized Government, Protect our Borders, dismantle Criminal Organizations, and restore Americans' badly-shattered Faith and Confidence in the Justice Department."
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42011875/solana-ripple-litecoin-etfs-may-be-on-the-table-under-trump-administration-industry-experts-think">Solana, Ripple, Litecoin ETFs May Be On The Table Under Trump Administration, Industry Experts Say</a>
Gaetz's path to confirmation is complicated by ongoing controversies. The House Ethics Committee is investigating him for allegations of sexual misconduct, drug use, and other claims, though Gaetz has consistently denied any wrongdoing.
The Department of Justice previously investigated him for sex trafficking but decided against pressing charges last year. 
For many Senate Republicans, these unresolved issues could prove insurmountable during the confirmation process .
Adding to his profile, Gaetz has also pushed for legislation to dismantle the Federal Reserve and legalize marijuana. 
His pro-crypto stance aligns with Trump's campaign promise to make the U.S. the "Bitcoin superpower of the world," a stance that has fueled excitement within the crypto community. 
What&#8217;s Next: Gaetz's involvement in crypto and his support for innovative financial policies make his nomination particularly relevant as investors await Benzinga&#8217;s <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42011697/bitcoin-hacker-sentenced-to-5-years-for-laundering-billions-in-crypto-theft">Bitcoin Hacker Sentenced To 5 Years For Laundering Billions In Crypto Theft</a></li>
</ul>
Image: Shutterstock

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