Leading coins remained steady on Thursday amid reports that President-elect Donald Trump may announce several pro-cryptocurrency measures after being sworn in.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:30 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+0.31%</td><td>$100,211.61</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-1.77%</td><td>$3,340.29</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+0.54%</td><td>$0.3789</td></tr></tbody></table></figure>



What Happened: Bitcoin wiggled in the $100,000 region, a day after reclaiming the psychologically important level on softer inflation data.&nbsp;



Ethereum also chopped in the $3,300-$3,900 zone as holders waited for the second-largest cryptocurrency to recapture the $4,000 milestone it reached last month.



The cryptocurrency market was brimming with optimism ahead of Trump's inauguration on Jan. 20. The president-elect was reportedly planning to designate cryptocurrency policy <a href="https://www.benzinga.com/25/01/43047039/trump-planning-to-declare-cryptocurrency-as-national-priority-increase-engagement-with-industry-report">as a national priority</a>.



Over $332 million was liquidated from the cryptocurrency market in the last 24 hours, with long liquidations accounting for $188 million.



About $960 million in upside bets could be liquidated if Bitcoin falls back to $95,000.



Bitcoin's Open Interest rose 2.21% in the last 24 hours. A sideways price movement, coupled with a rising Open Interest, typically precedes upside breakouts.



That said, more than half of derivatives traders on Binance placed short bets on Bitcoin, expecting a correction.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:30 p.m. ET)</td></tr><tr><td>Hedera (HBAR)</td><td>+23.49%</td><td>$0.387</td></tr><tr><td>Algorand (ALGO)</td><td>+12.24%</td><td>$0.4854</td></tr><tr><td>EOS (EOS)</td><td>+10.61%</td><td>$0.9507</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.52 trillion, increasing marginally by 0.04% in the last 24 hours.



Stocks reversed course on Thursday, erasing gains from the rally a day before. The Dow Jones Industrial Average fell 68.42 points, or 0.16%, to 43,153.13 The S&amp;P 500 ended a 3-day winning streak, closing 0.21% lower at 5,937.34. The tech-focused Nasdaq Composite lost 0.89% to end at 19,338.29.



Mega tech stocks such as Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) slipped 3.44% and 1.96%, respectively, likely contributing to the sell-offs.



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



Analyst Notes: Popular on-chain analyst Ali Martinez highlighted Bitcoin&#8217;s Long Term Holder Net Unrealized Profit/Loss indicator, which revealed a market sentiment ranging from "Euphoria" to "Greed" for long-term investors.



Net Unrealized Profit/Loss is derived from market value and realized value to track investor sentiment over time for a cryptocurrency.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Long-term holders are starting to feel greedy again as <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> reclaims $100,000! <a href="https://t.co/RcOo9g5Ohg">pic.twitter.com/RcOo9g5Ohg</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1880048640984481985?ref_src=twsrc%5Etfw">January 17, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Crypto Candy, a widely followed X handle dedicated to cryptocurrency analysis and trading ideas, noted that Bitcoin was encountering a strong resistance zone at $101,000-$103,000, breaking which could propel the apex digital asset to all-time highs.



"Otherwise, if it is rejected once more, we might see it fall back to the $93,000-$91,000 level, although this is considered less likely," Crypto Candy gave the bearish thesis.



<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> • As anticipated, BTC experienced a price decrease in the lower time frame upon encountering a strong resistance zone, and is now attempting to reclaim that resistance. Repeated tests of this zone appear to be weakening it. • If it successfully breaks through the… <a href="https://t.co/EhOYqdGWGv">pic.twitter.com/EhOYqdGWGv</a>&mdash; Crypto Candy&#x1f525;&#x1f48e; (@cryptocandy24x) <a href="https://twitter.com/cryptocandy24x/status/1880072388551012445?ref_src=twsrc%5Etfw">January 17, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo by Avi Rozen on Shutterstock



Read Next:    



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43035888/donald-trump-reportedly-open-to-us-crypto-reserve-as-bitcoin-reserve-chatter-gathers-steam">Donald Trump Reportedly Open To US Crypto Reserve As Bitcoin Reserve Chatter Gathers Steam</a></li>
</ul>

Cryptocurrency

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Trading Ideas

$BTC

$DOGE

$ETH

NVDA

TSLA

Bitcoin, Ethereum, Dogecoin Steady As Market Expects Trump's Pro-Crypto Bonanza: Analyst Says BTC Could Hit All-Time High If It Breaks This Resistance

Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) will reportedly not apply its new &#8220;<a href="https://www.benzinga.com/25/01/42851889/meta-ditches-fact-checking-for-community-notes-zuckerberg-says-opportunity-to-restore-free-expression">Community Notes</a>&#8221; feature to paid advertisements.



What Happened: Earlier this month, Meta CEO Mark Zuckerberg said the company would replace its fact-checking system with Community Notes.



Unlike the system on Elon Musk's X, which applies to both paid and unpaid posts, Meta&#8217;s version will focus solely on organic content.



Meta&#8217;s Community Notes will allow users to crowdsource annotations on posts they believe are misleading or lack context.



However, these notes will only apply to organic content, not paid ads, when the feature launches later this year, <a href="https://www.wsj.com/articles/metas-community-notes-wont-apply-to-paid-ads-marketers-still-have-questions-9a2af62c">reported</a> the Wall Street Journal, citing people with direct knowledge of the matter.



Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.



Marketers are left in a state of confusion, trying to understand the impact on their strategies, said Darren D'Altorio of Wpromote.



The uncertainty has sparked discussions about the future of organic sponsored content on Meta&#8217;s platforms, the report noted.



A Meta spokesperson told the publication that the company will continue to evaluate and improve the Community Notes feature as it rolls out in the U.S. over the coming months.



Meta did not&nbsp;immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga's</a> request for comments.



Why It Matters: Meta is set to announce its <a href="https://www.benzinga.com/general/social-media/25/01/42991174/meta-platforms-analyst-expects-strong-momentum-in-q4-to-continue-in-2025">fourth-quarter earnings</a> on Jan. 29. Last year in October, the company reported its <a href="https://www.benzinga.com/news/earnings/24/10/41637326/meta-platforms-q3-earnings-revenue-beat-eps-beat-daily-actives-up-5-strong-momentum-in-ai">third-quarter revenue</a> of $40.59 billion, surpassing analysts&#8217; expectations of $40.29 billion. Advertising accounted for 96% of this total revenue.



Price Action: Meta&#8217;s stock declined 0.94% on Thursday and dipped further by 0.016% in after-hours trading, settling at $611.20, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.



Image via Shutterstock



Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.



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</ul>



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

Tech

Media

Meta's 'Community Notes' To Exempt Paid Ads, Marketers Left Puzzled About Organic Content Risks: Report

SpaceX CEO Elon Musk shared a video of rocket parts raining down from the sky on Thursday after the company lost the Starship&#8217;s new-generation upper stage spacecraft during the seventh test flight of its Super Heavy-Starship mega rocket. 



What Happened: Musk said on X, &#8220;Success is uncertain, but entertainment is guaranteed!&#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">Success is uncertain, but entertainment is guaranteed! &#x2728; <a href="https://t.co/nn3PiP8XwG">pic.twitter.com/nn3PiP8XwG</a>&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1880040599761596689?ref_src=twsrc%5Etfw">January 16, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The first stage booster was successfully recaptured, but the Starship&#8217;s telemetry froze eight minutes and 27 seconds post-launch due to unexpected engine shutdowns or failures, <a href="https://www.cbsnews.com/news/spacex-starship-spacecraft-destroyed-super-heavy-mega-rocket-launch/">reported</a> CBS News.



The Super Heavy-Starship mega rocket was launched from SpaceX&#8217;s Boca Chica, Texas, manufacturing and flight test facility at 5:37 p.m. Eastern Time on Thursday. The rocket, powered by 33 methane-burning Raptor engines, generated up to 16 million pounds of thrust. 



Two minutes and 40 seconds after liftoff, the Super Heavy detached, allowing Starship to ascend toward space powered by its six Raptor engines. However, the loss of telemetry left flight controllers in the dark about the final stages of the ascent. 



SpaceX later confirmed the ship&#8217;s destruction on X, stating, &#8220;Starship experienced a rapid unscheduled disassembly during its ascent burn.&#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">Starship experienced a rapid unscheduled disassembly during its ascent burn. Teams will continue to review data from today&#39;s flight test to better understand root cause. With a test like this, success comes from what we learn, and today's flight will help us improve Starship's…&mdash; SpaceX (@SpaceX) <a href="https://twitter.com/SpaceX/status/1880033318936199643?ref_src=twsrc%5Etfw">January 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/general/space/25/01/43023657/jeff-bezos-blue-origins-new-glenn-reaches-orbit-on-first-try-spacex-ceo-elon-musk-applauds-rivals-achievement">Jeff Bezos&#8217; Blue Origin&#8217;s New Glenn Reaches Orbit On First Try: SpaceX CEO Elon Musk Applauds Rival&#8217;s Achievement</a>



Why It Matters: The <a href="https://www.benzinga.com/25/01/43020027/starships-7th-test-flight-postponed-to-thursday-owing-to-unfavorable-weather-says-spacex">seventh test flight</a> of the Starship had been postponed to Thursday due to unfavorable weather conditions. The test flight featured multiple experiments to test a variety of heat shield improvements, including metallic tiles and one with active cooling. 



Earlier in December, Musk <a href="https://www.benzinga.com/24/12/42718758/elon-musk-says-starship-will-get-fully-reusable-heat-shield-in-2025-i-am-confident">shared his vision</a> of developing a fully reusable heat shield by 2025. The entrepreneur had also <a href="https://www.benzinga.com/government/24/10/41621276/elon-musk-predicts-sending-starship-to-mars-in-2-years-but-warns-regulatory-hurdles-could-delay-lift">outlined a bold timeline</a> for sending SpaceX&#8217;s Starship to Mars within two years, but he warned that regulatory challenges could delay these plans. T



The ongoing test program will determine when SpaceX&#8217;s ambitious missions of sending humans and cargo to Earth orbit, the moon, and Mars might be possible.



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



Read Next: 



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<li><a href="https://www.benzinga.com/general/space/25/01/42892886/spacex-ceo-elon-musk-offers-free-starlink-terminals-to-los-angeles-areas-affected-by-wildfires">SpaceX CEO Elon Musk Offers Free Starlink Terminals To Los Angeles Areas Affected By Wildfires</a></li>
</ul>



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

Starship Explodes During Flight Test, Elon Musk Says: 'Success Is Uncertain, But Entertainment Is Guaranteed!'

Ark Invest CEO Cathie Wood has been a proponent of space industry growth and she may have found her new <a href="https://www.benzinga.com/topic/space-stocks">favorite stock.</a>



What Happened: Two Ark Invest ETFs added small positions in Intuitive Machines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUNR#NASDAQ">LUNR</a>) to their portfolios on Wednesday, as the space stock soared over the past year and could gain more support with recent <a href="https://www.benzinga.com/general/sports/24/12/42647377/intuitive-machines-stock-is-moving-higher-monday-whats-going-on">NASA contract wins.</a>



The stock was added to the Ark Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>) with 267,642 shares <a href="https://www.ark-funds.com/">purchased</a>. This represents 0.52% of the ETF and the 35th largest position at the time of writing.



To make way for the addition, Ark sold shares of Rocket Lab USA Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>), another high-performing 2024 space stock. Rocket Lab is currently the fourth-largest position in the ETF at 5.59% of assets, trailing only Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), 15.44%; Kratos Defense &amp; Security Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KTOS#NASDAQ">KTOS</a>), 10.07% and Teradyne Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TER#NASDAQ">TER</a>), 9.03%.



The stock was also added to the Ark Space Exploration &amp; Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKX#BATS">ARKX</a>) with 160,178 shares purchased. This represents 1.04% of the ETF and the 27th largest position at the time of writing.



To make way for this addition, Ark sold shares of Kratos and Rocket Lab. Kratos is the largest holding in the ETF at 10.20% followed by Rocket Lab at 8.99%.



Both of the purchases, which were reported in overnight trading activity emails, are the total amount of shares owned as of Thursday. This means these were the first purchases by both ETFs. Investors will be closely following to see if Wood adds to the Intuitive Machines positions.



Read Also: <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">EXCLUSIVE: Cathie Wood Tells Benzinga Why Tesla Should Trade As A Tech Stock</a>



Why It's Important: Intuitive Machines stock is up over 600% in the past year. The company had one of the biggest headlines in February 2024 as Intuitive Machines had the<a href="https://www.benzinga.com/24/02/37276634/intuitive-machines-built-odysseus-achieves-first-us-soft-landing-on-moon-since-1972-nasa-chief-says"> first private spacecraft</a> land on the moon and the first U.S. soft landing on the surface since 1972.



Optimism for space stocks like Intuitive Machines carries into 2025 with the company announcing several NASA contract awards in December.



Intuitive Machines is also preparing to head back to the moon with a launch targeted for late February.



A recent <a href="https://www.benzinga.com/general/space/25/01/42828631/exclusive-rocket-lab-intuitive-machines-redwire-or-ast-spacemobile-33-of-readers-pick-this-space-stock-for-2025">Benzinga reader poll </a>asked which space stock they would most likely invest in for 2025. Rocket Lab won the poll with 33%. Intuitive Machines ranked second among the four stocks at 24%, while 26% said they wouldn't invest in space stocks in 2025.



The other item to watch is how high up the top holdings list Intuitive Machines is for the Ark Space Exploration ETF.



The Procure Space ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UFO#NASDAQ">UFO</a>) has been holding the stock for some time and Intuitive Machines is currently the top holding at 7.81%.



LUNR Price Action: Intuitive Machines trades at $19.06 at market close Thursday versus a 52-week trading range of $2.48 to $22.32.



Photo: Courtesy of Intuitive Machines

SPACE

Specialty ETFs

ETFs

ARKQ

ARKX

KTOS

LUNR

RKLB

Cathie Wood Adds New Space Stock To 2 ETFs: Company Went To Moon, Will Investment Returns Follow?

The CDC issued a health advisory Thursday recommending that hospitalized patients who have tested positive for influenza be tested for the bird flu <a href="https://www.benzinga.com/general/biotech/25/01/42854890/us-records-first-human-bird-flu-death-high-levels-of-respiratory-illnesses-vaccine-stocks-rally">virus within 24 hours.&nbsp;</a>



What To Know: There have been 67 confirmed human cases of bird flu in the U.S. since 2024 and the CDC<a href="https://www.cdc.gov/bird-flu/situation-summary/index.html"> says it is</a> "watching the situation carefully and working with states to monitor people with animal exposures."



The CDC's latest H5N1<a href="https://www.cdc.gov/han/2025/han00520.html"> bird flu advisory</a> comes as new cases continue to be revealed. On Wednesday, the CDC confirmed a bird flu infection in a child in the San Francisco area who was not hospitalized and has since recovered. The CDC said it is still investigating how the child was exposed to the virus. 



Read Next: <a href="https://www.benzinga.com/general/health-care/25/01/43041254/unitedhealth-ceo-highlights-hospitals-doctors-pharmas-role-in-soaring-health-care-costs">UnitedHealth CEO Highlights Hospitals, Doctors, Pharma&#8217;s Role In Soaring Health Care Costs</a>&nbsp;



According to a Washington Post<a href="https://www.washingtonpost.com/health/2025/01/16/bird-flu-testing-patients-in-hospital/"> report</a>, Nirav Shah, CDC's principal deputy director, said the latest recommendation is meant to accelerate testing rather than increase the number of tests being performed.&nbsp;



Shah said it was prompted by cases in which infected patients were later confirmed to have bird flu, including after being discharged.



Earlier this month, the Louisiana Department of Health reported the first human death in the U.S. related to the H5N1 bird flu virus.



Vaccine Makers: Shares of vaccine-related stocks are on watch as previous bird flu developments have caused shares to spike.&nbsp;



Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) received a $176 million government contract in July to advance development of its bird flu vaccine, leveraging the same mRNA technology used in the company's COVID-19 vaccine.  



Novavax, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVAX#NASDAQ">NVAX</a>) has a bird flu vaccine in clinical trials<a href="https://www.benzinga.com/general/biotech/24/11/41878334/fda-gives-green-signal-to-novavaxs-covid-19-influenza-combo-vaccine-late-stage-trial"> in addition</a> to a COVID-19-influenza combination vaccine in late-stage clinical trials. 



CureVac N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVAC#NASDAQ">CVAC</a>) stock is also on watch as the company has started a phase I/II study on its bird flu vaccine developed in collaboration with GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>).  



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</ul>



Photo: Shutterstock

Biotech

Government

Health Care

General

CVAC

MRNA

NVAX

Bird Flu Raising Red Flags Among Health Officials, CDC Urges Faster Testing

Scott Bessent, Donald Trump's nominee for Treasury Secretary, faced sharp questioning in his Senate confirmation hearing Thursday, defending the administration's economic agenda on tariffs, tax policy, government spending, <a href="https://www.benzinga.com/news/econ-s">and U.S. global competitiveness.</a>



Markets took note as Bessent outlined a vision that could steer fiscal policy, trade, and energy. He also reinforced the dollar's role as <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43021014/trumps-treasury-pick-scott-bessent-urges-dollar-must-remain-worlds-reserve-currency-as-president-elect-reportedly-pushes-for-strategic-bitcoin-reserve">the world's reserve currency</a>.



His remarks signal a return to Trump-era economic priorities — lower corporate taxes, higher tariffs, and increased domestic energy production—with significant implications for investors.



Here are five key takeaways. 



<h3 class="wp-block-heading">1) Will Tariffs Make The Dollar Even Stronger?</h3>



Bessent defended Trump's broad tariff proposals, rejecting claims they would act as a direct tax on American consumers.



See Also: <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42240108/trump-tariffs-could-hit-pockets-of-consumers-retailers-urge-customers-to-shore-up-purchases-experts-warn-a-stronger-dollar-might-still-not-make-up-for-deficit">Trump Tariffs Could Hit Pockets Of Consumers, Retailers Urge Customers To Shore Up Purchases</a>



He cited economic models suggesting that the costs wouldn't fully pass through to U.S. buyers but would instead be offset by currency appreciation, changing consumer behavior, and price adjustments by foreign producers.



"If we were to say use a number that has been thrown around in the press at 10% [universal tariffs], then traditionally the currency appreciates by 4%," Bessent said, indicating that a stronger dollar would offset some of the inflationary effects of tariffs.



Bessent also stressed the importance of safeguarding the U.S. dollar's status as the world's reserve currency, tying it directly to economic stability and national security.



During his confirmation hearing, he stated: &#8220;Critically, we must ensure that the U.S. dollar remains the world&#8217;s reserve currency."



He also indicated that tariffs could be a powerful tool in negotiations, potentially replacing sanctions in some cases. He referenced Trump's belief that sanctions may be pushing countries away from the U.S. dollar, indicating that tariffs could serve as a more strategic alternative.



His comments suggest that if Trump's tariffs are enacted, investors should watch for dollar strength, which could have major implications for exporters, multinational corporations, and commodity prices. 



Since Trump was elected in November, the U.S. dollar index (DXY) – as broadly tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) – <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42436633/trump-has-a-dollar-problem-president-elect-favors-weaker-currency-but-potential-tariffs-might-end-up-strengthening-the-greenback-instead">has risen by 5%</a>.



<h3 class="wp-block-heading">2) Trump's 2017 Tax Cuts Must Be Permanent</h3>



Bessent made clear that one of his top priorities is making Trump's 2017 tax cuts permanent, warning that allowing them to expire would create "an economic calamity" with &#8220;devastating&#8221; effects. 



If Congress does not act, Americans could face what he called a "gigantic middle-class tax increase" totaling $4.3 trillion starting in 2026.



&#8220;We must make permanent the 2017 Tax Cuts and JOBS Act, and implement new pro-growth policies to reduce the tax burden on American manufacturers, service workers, and seniors,&#8221; Bessent stated.



According to Bessent, such measures could increase U.S. GDP by 1.1% over time and boost business investment.



He also dismissed criticism that the tax cuts <a href="https://www.benzinga.com/personal-finance/24/11/42146895/are-you-rich-enough-to-benefit-from-trumps-tax-breaks-heres-how-much-youd-need-to-be-part-of-the-top-5">primarily benefited the wealthy</a>, arguing that "the top 50% of Americans now pay 98% of taxes."



&#8220;I believe Wall Street has done great the past few years and that Main Street has suffered. I think it&#8217;s Main Street&#8217;s time. Wall Street can continue to do well, maybe not as well, and it&#8217;s time to have a Main Street small-business-led recovery,&#8221; Bessent said.



See Also: <a href="https://www.benzinga.com/personal-finance/24/10/41313947/expert-finds-trumps-tax-proposal-drains-money-from-95-of-households-and-funnels-it-to-the-top-5-">Trump&#8217;s Tax Proposal Drains Money From 95% Of Households And Funnels It To The Top 5%, ITEP Says</a>



<h3 class="wp-block-heading">3) Spending Cuts And Deficit Control: Austerity Incoming?</h3>



Bessent painted a stark picture of Washington's fiscal trajectory, stating: "The United States does not have a revenue problem. We have a spending problem." 



He highlighted that the federal deficit has averaged 7% of GDP over the past four years, calling for major reductions in government expenditures.



&#8220;One of the things that got me out from behind my desk and my quiet life in this campaign was the thought that this spending is out of control,&#8221; Bessent said.



"We must work to get our fiscal house in order and adjust federal domestic discretionary spending that has grown by an astonishing 40% over the past four years," he added. 



Though he didn't specify which programs could face cuts, he indicated that federal agencies must prioritize productive investments over what he described as "wasteful spending that drives inflation."



Investors should brace for intense fiscal battles in Congress as lawmakers weigh <a href="https://www.benzinga.com/general/24/10/41653514/musk-says-us-must-live-within-our-means-with-proposed-2-trillion-spending-cut">spending reductions against economic risks</a>.



<h3 class="wp-block-heading">4) Energy Policy: More Domestic Drilling, Tougher On Russia And Iran</h3>



Bessent strongly aligned with Trump's call for "unleashing American energy production," arguing that higher domestic output is critical for economic growth and national security. 



He indicated that Biden's reluctance to impose tougher sanctions on Russian oil exports was driven by fears of rising U.S. fuel prices.



"If any officials in the Russian Federation are watching this confirmation hearing, they should know that if I'm confirmed… I will be 100% on board for taking sanctions up, especially on the Russian oil majors, to levels that would bring the Russian Federation to the table," Bessent stated.



The Treasury nominee also linked energy security to broader U.S. foreign policy, arguing that increased American oil production could help pressure adversaries like Iran.



See Also: <a href="https://www.benzinga.com/government/23/10/35240230/us-is-producing-more-oil-under-biden-than-at-any-point-under-the-trump-administration">US Produced More Oil Under Biden Than At Any Point Under The Trump Administration</a>



&#8220;We can make Iran poor again, not the Iranian people, the Iranian, the government, and then at the same time have our domestic producers push that up with the highest energy standards in the world,&#8221; Bessent said.



<h3 class="wp-block-heading">5) Countering China</h3>



Bessent signaled a tougher stance on China, arguing that the country's economic struggles are pushing it toward aggressive trade tactics. 



"China is the most unbalanced economy in the history of the world," he said, emphasizing that Beijing is attempting to "export their way out of their current economic malaise."



&#8220;They are using their surpluses to fund their military machine in China,&#8221; Bessent added.



To counter this, he backed stronger controls on U.S. investment in China, particularly in strategic sectors such as artificial intelligence, quantum computing, and semiconductors. 



&#8220;We want to make sure that we maintain [the lead] through smart policies,&#8221; he said. 



Check Out: 



<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43036184/us-energy-sector-had-a-strong-start-to-2025-analysts-eye-constructive-setup-for-chevron">US Energy Sector Enjoys Strong Start To 2025, Analysts Eye &#8216;Constructive Setup&#8217; For Chevron</a></li>
</ul>



Image: Shutterstock

Asia

Macro Economic Events

Regulations

Currency ETFs

Politics

Econ #s

Economics

5 Things Investors Need To Know About Scott Bessent's Economic Policies As He Faces Senate Grilling For Treasury Job

UnitedHealth Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) reported its financial results on Thursday after a tumultuous fourth quarter that included the murder of UnitedHealthcare division CEO Brian Thompson and broad public outrage over the <a href="https://www.benzinga.com/general/health-care/24/12/42744629/unitedhealth-group-ceo-reportedly-says-company-will-hit-financial-records-execs-murder-public-outcry-are-backdrop-for-q4-earnings">nation's health care system.&nbsp;</a>



What To Know: UnitedHealth posted mixed<a href="https://www.benzinga.com/general/health-care/25/01/43025159/unitedhealth-q4-earnings-revenue-falls-short-medical-ratio-rises-to-85-5-stock-falls"> financial results</a> for the quarter, beating earnings estimates, but missing on revenue by nearly $1 billion. The insurer also reported that its full-year medical care ratio rose to 85.5%, up from 83.2% in 2023,  due to CMS&#8217;s Medicare funding reductions, the timing of Medicaid redeterminations and the cyberattack on UnitedHealth&#8217;s subsidiary Change Healthcare. 



Read Next: <a href="https://www.benzinga.com/news/legal/25/01/42979220/biden-announces-more-student-loan-forgiveness-bringing-debt-relief-to-nearly-5-million-borrowers">Biden Announces More Student Loan Forgiveness, Bringing Debt Relief To Nearly 5 Million Borrowers</a>



Q4 Earnings Call: UnitedHealth CEO Andrew Witty held a conference call with analysts following the earnings release and opened the call with a tribute to Thompson.&nbsp;



"He would dive in with passion and caring to find solutions to improve experiences, whether for an individual consumer, an employer or a public health agency," Witty said of Thompson, as <a href="https://insurancenewsnet.com/innarticle/unitedhealth-reports-29m-revenue-bump-in-2024-ceo-rips-costly-system">reported by</a> Insurance NewsNet.&nbsp;



The UnitedHealth CEO addressed the public outcry over the high costs of health care and health insurance in the U.S. and pointed to hospitals, doctors and pharmaceutical companies as the cause. 



"Health care costs more in the U.S. because the price of a single procedure, visit or prescription, is higher here than it is in other countries," Witty said. 



"There are participants in the system who benefit from these high prices. Lower-cost, equivalent quality sites of service, for example, can be good for consumers and patients, but threaten revenue streams for organizations that depend on charging more for care," he added.&nbsp;



Witty also staunchly defended pharmacy benefit managers, which have come under scrutiny and criticism as being at least <a href="https://www.benzinga.com/government/regulations/25/01/43010888/ftc-says-unitedhealth-cvs-cigna-make-billions-via-pbms-on-specialty-drugs">partially responsible</a> for high prescription prices. 



"PBMs are really the only effective mechanism across the system which really holds the pharmaceutical company to account once it chooses to set its price," Witty said. "The PBM is there to try and hold that to account and negotiate on behalf of employers, unions, states and others, to try and bring down those prices."&nbsp;



The CEO also announced that UnitedHealth's OptumRx PBM will return 100% of rebates from drug companies back to its customers by 2028, up from 98% currently. 



UNH Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, UnitedHealth shares finished 6.04% lower at $510.59 on Thursday.



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/25/01/43007213/experts-see-the-fed-on-hold-for-now-if-there-are-any-cuts-at-all-in-2025-after-decembers-sticky-consumer-inflation-report">Interest Rate Cuts &#8216;On Hold&#8230; If There Are Any At All In 2025&#8217; After December&#8217;s Sticky Consumer Inflation Report: Economists&nbsp;</a></li>
</ul>



Photo: Gorodenkoff/Shutterstock.com

Earnings

Management

Insurance

UnitedHealth CEO Highlights Hospitals, Doctors, Pharma's Role In Soaring Health Care Costs

Cryptocurrency markets are surging on Thursday, with Bitcoin reclaiming $100,000 and XRP leading a broader altcoin rally.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>&nbsp;$100,335.85</td><td>+0.4%</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>&nbsp;$3,343.10&nbsp;</td><td>-3%</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>&nbsp;$213.67</td><td>+5.7%</td></tr><tr><td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>&nbsp;$3.29</td><td>+11.8%</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>&nbsp;$0.3854&nbsp;</td><td>+2.3%</td></tr><tr><td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>&nbsp;$0.00002236</td><td>+0.2%</td></tr></tbody></table></figure>



Notable Statistics:



<ul>
<li>IntoTheBlock data shows large transaction volume increasing by 13.3% and daily active addresses up by 1.3%. Transactions greater than $100,000 are up from 10,217 to 11,601 in a single day. Exchanges netflows are up by 31.9%.</li>



<li>Coinglass data reports 109,109 traders were liquidated in the past 24 hours for $359.99 million.</li>
</ul>



Notable Developments:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43027629/bitcoin-to-300000-in-2025-asian-asset-management-firm-says">Bitcoin To $300,000 In 2025, Asian Asset Management Firm Says</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43032961/decentralized-finance-will-reshape-the-internet-crypto-founder-says">Decentralized Finance Will Reshape The Internet, Crypto Founder Says</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43035888/donald-trump-reportedly-open-to-us-crypto-reserve-as-bitcoin-reserve-chatter-gathers-steam">Donald Trump Reportedly Open To US Crypto Reserve As Bitcoin Reserve Chatter Gathers Steam</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43028215/coinbase-launches-bitcoin-backed-loans-for-us-users">Coinbase Launches Bitcoin-Backed Loans For US Users</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43033588/jade-city-launches-flappy-jade-telegram-game-with-tokenized-gemstone-rewards">Jade City Launches &#8216;Flappy Jade&#8217; Telegram Game With Tokenized Gemstone Rewards</a></li>
</ul>



Top Gainers:



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Hedera (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/hbar/usd">HBAR</a>)</td><td>$0.3768</td><td>+20.8%</td></tr><tr><td>Litecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ltc/usd">LTC</a>)</td><td>$127.47&nbsp;</td><td>+20.1%</td></tr><tr><td>XDC Network (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">XDC</a>)</td><td>$0.1524 </td><td>+16.6%</td></tr></tbody></table></figure>



Trader Notes: With Bitcoin experiencing heightened volatility, crypto trader Jelle noted that the price action is unfolding as expected. 



He <a href="https://x.com/CryptoJelleNL/status/1879930637416894541">emphasized</a> that the key support area is now $100,000, and a break above this level could propel prices significantly higher.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Still going as planned. Looks like the key area is now support &#8211; break $100,000 and this goes a lot higher IMO. Looking good! <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/XZgPeyn14k">pic.twitter.com/XZgPeyn14k</a>&mdash; Jelle (@CryptoJelleNL) <a href="https://twitter.com/CryptoJelleNL/status/1879930637416894541?ref_src=twsrc%5Etfw">January 16, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



More Crypto Online <a href="https://x.com/Morecryptoonl/status/1879935635932270646">highlighted</a> that Bitcoin's recent upward move has a first target zone of $104,185–$106,415, with $113,166–$118,550 as the next zone if these targets are hit.



Crypto trader Pentoshi <a href="https://x.com/Pentosh1/status/1879934542078963984">expects</a> another reversal on lower timeframes that could translate into higher timeframe movements. 



He pointed out that the key indicator to monitor is "each consolidation becoming shorter than the previous one as price accelerates."



Trader Javon Marks <a href="https://x.com/JavonTM1/status/1879969576349495710">observed </a>that Bitcoin's 48-hour chart confirmed a hidden bullish divergence. 



He noted that a similar setup during election time previously resulted in a 40–50% price spike.



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43032768/bitcoins-4-year-cycle-is-breaking-and-thats-a-good-thing-industry-expert-says">Bitcoin&#8217;s 4-Year Cycle Is Breaking And That&#8217;s A Good Thing, Industry Expert Says</a></li>
</ul>



Image: Shutterstock

$HBAR

$LTC

$SHIB

$SOL

$XDC

$XRP

Bitcoin Reclaims $100,000, XRP Leads Altcoin Gains—But This One Cryptocurrency Keeps Lagging

A Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) analyst predicts the streaming company gained a large amount of subscribers in the fourth quarter, but could struggle to keep them around after the<a href="https://www.benzinga.com/general/sports/24/12/42711504/lebron-james-vs-nfl-nba-star-says-christmas-is-our-day-2024-ratings-paint-a-different-picture"> Christmas Day NFL games.</a>



The Analyst: Rosenblatt analyst Barton Crockett maintained a Neutral rating on the Los Gatos, California-based company with a $680 price target.



Read Also:<a href="https://www.benzinga.com/24/12/42751367/netflix-posts-record-debut-with-squid-game-season-2-heres-how-many-people-watched-show"> Netflix Posts Record Debut With &#8216;Squid Game&#8217; Season 2: Here&#8217;s How Many People Watched Show</a>



The Analyst Takeaways: Sports could be at the forefront of Netflix's fourth-quarter financial results on Jan. 21, Crockett said in a new investor note.



The platform's growth in sports could drive upside to subscribers in the fourth quarter versus guidance, Crockett says.



"A big question is the economics of this move into sports by Netflix," he adds.



Netflix's advertising for sporting events and audience metrics will be keys in the financial report and commentary to show that the company can disrupt the sports market from traditional media companies, Crockett said.



Crockett thinks Netflix could beat revenue estimates for the quarter.



"Netflix will have ad revenues from two NFL games in 4Q24, that it didn't have in 3Q24. That could be over $60 million per game, or $120 million for the two."



The analyst said the company sold out its advertising slots for the NFL games.



Crockett also sees subscriber growth coming in ahead of estimates with viewership for top 10 titles up 25% year-over-year in the fourth quarter.



While things could look good in next week's earnings report, Crockett is cautious on the first-quarter guidance and future results.



"Netflix will lose the NFL ad lift in the 1Q25. Some subs that joined for the NFL Christmas games or Paul/Tyson fight could churn off."



Crockett said it common for other streamers to have consumers sign up for big sporting events and then churn off afterwards.



"We will look for a defense of sports rights ROI at Netflix on the earnings call."



Price Action: Netflix stock is up 0.4% to $852.16 on Thursday versus a 52-week trading range of $475.26 to $941.75. Netflix stock is up 77% over the last year.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/general/entertainment/25/01/42956034/netflix-stock-has-long-term-runway-for-dominance-in-streaming-analyst-highlights-4-key-catalysts">Netflix Stock Has &#8216;Long Term Runway For Dominance In Streaming&#8217;: Analyst Highlights 4 Key Catalysts</a></li>
</ul>



Image: Shutterstock

Analyst Color

Entertainment

Price Target

Reiteration

Sports

Analyst Ratings

NFLX

Netflix Analyst Predicts Q4 Subscriber Beat, Cautions On Q1 Guidance: Subs That Joined For NFL, Boxing 'Could Churn Off'

Israel's cabinet will reportedly vote on a ceasefire agreement <a href="https://www.benzinga.com/25/01/43011383/israel-gaza-ceasefire-hostage-exchange">with Hamas on Friday.</a>



Since the announcement of the tentative truce on Wednesday, Israeli airstrikes in Gaza have reportedly killed 83 people, according to a spokesperson for Gaza's Civil Defense, marking the highest daily toll in over a week, <a href="https://www.cnn.com/world/live-news/israel-hamas-gaza-ceasefire-hostages-01-16-24/index.html">CNN</a> reports.



What Happened: The ceasefire proposal, brokered after extensive negotiations, aims to halt the ongoing conflict in Gaza and facilitate the release of hostages held by Hamas in exchange for Palestinian prisoners. Prime Minister Benjamin Netanyahu has refrained from commenting on specific deal provisions until all elements are finalized, CNN said. 



Tnsions within Netanyahu's coalition government are escalating. A key right-wing faction has threatened to withdraw its support unless the ceasefire's initial phase leads to a resumption of military operations.



According to CNN, international humanitarian agencies have welcomed the deal, urging unfettered access to Gaza to address the extensive humanitarian crisis.



Also Read: <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43017610/oil-prices-break-80-reach-6-month-highs-despite-israel-hamas-ceasefire-deal-why-is-crude-rallying">Oil Prices Break $80, Reach 6-Month Highs Despite Israel-Hamas Ceasefire Deal: Why Is Crude Rallying?</a>



Why It Matters: With the ceasefire on shaky ground, Netanyahu's decision to <a href="https://www.benzinga.com/news/global/25/01/43029992/netanyahu-postpones-ceasefire-vote-raising-questions-about-gaza-truce-prospects">delay the cabinet vote</a> — citing additional demands by Hamas — raises questions about the agreement's durability. Senior Hamas official Sami Abu Zuhri has denied allegations of reneging on the deal, calling the claims baseless.



The dispute has cast doubt on the potential end to a 15-month conflict.



International mediators remain hopeful, emphasizing the significance of the agreement in alleviating the humanitarian toll in Gaza. 



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/01/42933339/trumps-envoy-urges-netanyahu-for-gaza-deal-can-ceasefire-efforts-succeed-before-inauguration">Trump&#8217;s Envoy Presses Netanyahu for Gaza Deal: Can Ceasefire Push Succeed Before Inauguration?</a></li>
</ul>



Photo: Shutterstock.

Global

Israel Cabinet Reportedly Set To Vote On Gaza Truce Friday

An Arctic blast is set to hit most of the country this weekend and into next week as the polar vortex pushes frigid <a href="https://www.benzinga.com/news/global/24/12/42743937/natural-gas-prices-spike-as-bone-chilling-arctic-blast-approaches">temperatures into the U.S. </a>



The Details: Frigid Siberian air is forecast to hit the Northern Plains on Saturday and move south and east through the weekend,<a href="https://www.accuweather.com/en/winter-weather/coldest-air-of-the-winter-lurks-for-eastern-us-next-week/1734113"> according</a> to AccuWeather.&nbsp;



&#8220;The cold outbreak will occur right smack in the middle of what is historically the coldest part of the winter,&#8221; AccuWeather Senior Meteorologist Bob Larson said.



The cold is expected to linger and could bring subzero temperatures to more than 105 million people in the U.S. over the next two weeks, the Washington Post <a href="https://www.washingtonpost.com/weather/2025/01/15/polar-vortex-frigid-cold-eastern-us-forecast/">reported</a>. 



Read Next: <a href="https://www.benzinga.com/general/social-media/25/01/43018125/trump-considers-executive-order-to-save-tiktok-from-being-banned-in-4-days">Trump Considers Executive Order To &#8216;Save&#8217; TikTok From Being Banned In 4 Days</a>&nbsp;



Why It Matters: With much of the country set to face dangerously cold temperatures, investors are monitoring natural gas and utility stocks.&nbsp;



The United States 12 Month Natural Gas Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNL#NYSE">UNL</a>) which tracks the average of 12 months of natural gas futures contracts is up 4% over the past five days and the United States Natural Gas Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNG#NYSE">UNG</a>), tracking the near-month natural gas futures contract price, is up more than 3% over the same period. 



Constellation Energy Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>) which provides services in several East Coast states and Washington, D.C. and Michigan-based utility provider DTE Energy Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DTE#NYSE">DTE</a>) could both see increased demand as the Arctic weather moves in. 



Retailers such as Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) and Home Depot Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) could see increased sales as people purchase supplies to prepare for the wintry conditions. However, retail locations will likely see reduced foot traffic as consumers stay home when the extreme cold arrives. 



Inauguration Day: President-elect Donald Trump will be <a href="https://www.benzinga.com/search?q=Trump#:~:text=3%3A09%20AM-,Aniket%20Verma,1/16/2025%2C%202%3A32%20AM,-Pooja%20Rajkumari">inaugurated </a>on Monday in Washington D.C. and the forecast high of 24 degrees could make Trump's inauguration one of the coldest on record.&nbsp;



The coldest so far was former President Ronald Regan's second inauguration in 1985 when the temperature was -2 and the ceremony was moved indoors due to this dangerous temperature. 



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/25/01/43007213/experts-see-the-fed-on-hold-for-now-if-there-are-any-cuts-at-all-in-2025-after-decembers-sticky-consumer-inflation-report">Interest Rate Cuts &#8216;On Hold&#8230; If There Are Any At All In 2025&#8217; After December&#8217;s Sticky Consumer Inflation Report: Economists&nbsp;</a></li>
</ul>



Photo: Shutterstock

Sector ETFs

Commodities

Travel

Polar Vortex Brings Winter's Coldest Air For Trump's Inauguration Day: What It Means For Utilities, Retailers, Energy Stocks

Wall Street paused for a breather on Thursday, following Wednesday's big rally sparked by a softer-than-predicted December inflation report that fueled speculation on the Federal Reserve delivering interest rate <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43003047/stocks-rise-on-core-inflation-slowdown-banks-rally-after-strong-q4-earnings-treasury-yields-plummet">cuts during the year. </a>



By midday, stocks were little changed as attention shifted to the next major event: Donald Trump's inauguration as 47th U.S. president on Monday.



On the data front, December retail sales rose 0.4% from the previous month, a slower pace than November's 0.8% increase and below expectations of 0.6%. Jobless claims climbed by 16,000 to 217,000, slightly higher than <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43027744/retail-sales-slow-jobless-claims-rise-is-us-consumer-loosing-steam">the projected 210,000. </a>



See Also: <a href="https://www.benzinga.com/25/01/43020430/cathie-wood-sounds-alarm-over-inflation-pressures-and-consumer-woes-peter-schiff-flags-oil-spike-what-economists-are-saying">Cathie Wood Says Inflation Worries Dampen Expectations, Schiff Singles Out Wall Street For Swallowing Narrative Even As Prices Soar</a>



The weaker data sent Treasury yields lower, with the 10-year yield slipping four basis points to 4.61%, extending the previous day's 14-basis-point decline.



Falling yields helped gold climb 0.9% to $2,970 per ounce, reaching a two-month high as investors moved toward safe-haven assets. 



Semiconductor stocks stood out the best-performing industry, with the iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) gaining 1.8%. Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) jumped more than 5% after delivering strong quarterly earnings, lifting the broader chip industry. Applied Materials Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>) and ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) advanced 7% and 6%, respectively.



Oil prices pulled back 2.6%, giving up part of Wednesday's 4% gain. Traders speculated that Trump's policies could ease sanctions on Russian energy exports as part of a broader effort to negotiate peace in Ukraine. 



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) edged down 1% to $99,000, following a slight pullback across cryptocurrency markets.



<h3 class="wp-block-heading">Thursday&#8217;s Performance In Major US Indices, ETFs</h3>



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Major Indices</td><td>Price</td><td>1-day %chg</td></tr><tr><td>S&amp;P 500</td><td>5,958.43</td><td>0.1%</td></tr><tr><td>Dow Jones</td><td>43,255.53</td><td>0.1%</td></tr><tr><td>Russell 2000</td><td>2,264.04</td><td>0.0%</td></tr><tr><td>Nasdaq 100</td><td>21,239.38</td><td>0.0%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated 12:40 p.m. ET</figcaption></figure>



According to&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent011525&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>&nbsp;data:



<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) remained unchanged at $593.10.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;flattened at $432.18.</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>) was unchanged at $516.54.</li>



<li>The&nbsp;iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) inched 0.1% to $224.31.</li>



<li>The&nbsp;Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) outperformed, up 2.1%; the&nbsp;Health Care Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) lagged, down 0.5%.</li>
</ul>



<h3 class="wp-block-heading">Thursday&#8217;s Stock Movers</h3>



<ul>
<li>Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) fell 2% following quarterly earnings. Peer Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) rose 2.7%.</li>



<li>Other stocks reacting to earnings were UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>), down 4.7%, Infosys Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INFY#NYSE">INFY</a>), down 5.2%, PNC Financial Services Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>), down 2%, U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>), down 5.3%, M&amp;T Bank Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>), down 2.8%, First Horizon Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FHN#NYSE">FHN</a>). </li>



<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) fell by 3.6% after the EV giant announced reduced selling prices on its Cybertruck, in a strategy to revive demand. </li>



<li>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) dropped 3% after the European Commission's competition chief confirmed that the investigation into the company under the Digital Markets Act will move forward as scheduled, with enforcement anticipated by March 2024.</li>
</ul>



Check Out: 



<ul>
<li><a href="https://www.benzinga.com/general/travel/25/01/43036258/polar-vortex-brings-winters-coldest-air-for-trumps-inauguration-day-what-it-means-for-utilities-retailers-energy-stocks">Polar Vortex Brings Winter&#8217;s Coldest Air For Trump&#8217;s Inauguration Day: What It Means For Utilities, Retailers, Energy Stocks</a></li>
</ul>



Image: Shutterstock

Equities

Large Cap

Broad U.S. Equity ETFs

Treasuries

AAPL

AMAT

ASML

INFY

SOXX

TSX:XL

Stocks Pause, Chipmakers Rise, Gold Hits 2-Month Highs: What's Driving Markets Thursday?

U.S. banks delivered another round of strong fourth-quarter earnings Thursday, with Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>), First Horizon Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FHN#NYSE">FHN</a>), and PNC Financial Services Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>) all surpassing <a href="https://www.benzinga.com/earnings">Wall Street earnings estimates.</a>



The results reinforced the sector's resilience, yet financial stocks showed a mixed reaction after Wednesday's sharp rally.



The Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>), which tracks major banks, inched up 0.1% Thursday after a 2.6% gain the previous day. Meanwhile, regional banks, tracked by the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), dipped 0.7% following Wednesday's rally.



The reports followed upbeat earnings from Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), Wells Fargo &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), and Bank of New York Mellon Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>), which fueled the biggest one-day surge in financial stocks since November.



Market strategist Ed Yardeni said the earnings reflected a "pickup in investment banking and markets activity as business confidence improved." He added that consumer loan growth remained slightly stronger than commercial loan growth.



<h3 class="wp-block-heading">Morgan Stanley Rides Trading Boom To Blowout Quarter</h3>



Morgan Stanley posted earnings per share of $2.22, crushing the $1.70 forecast. Revenue climbed to $16.22 billion, exceeding expectations by nearly 8%, according to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent011625&amp;t=be2bearmibe3na1">Benzinga Pro</a> data. 



Its trading business drove the beat. Equities sales and trading revenue soared to $3.33 billion, easily topping the $2.63 billion estimate. Fixed income trading also outperformed, generating $1.93 billion versus the $1.68 billion forecast.



Wealth management, a key pillar of Morgan Stanley's business, delivered $7.48 billion in revenue, slightly above the $7.32 billion estimate. Net interest income hit $2.55 billion, well ahead of the $2 billion forecast.



The bank kept costs in check, with compensation expenses at $5.95 billion, lower than the projected $6.64 billion.



Shares rose 1.2%, extending Wednesday's 4.8% surge.



Read Also: <a href="https://www.benzinga.com/news/large-cap/25/01/43029150/morgan-stanley-q4-earnings-profit-doubles-ceo-calls-it-one-of-strongest-years-aims-for-prudent-dividend-growth">Morgan Stanley Q4 Earnings: Profit Doubles, CEO Calls It One Of Strongest Years, Aims For Prudent Dividend Growth</a>



<h3 class="wp-block-heading">Bank of America Tops Estimates, But 2025 Outlook In Focus</h3>



Bank of America also delivered a strong quarter, reporting EPS of 82 cents, above the 77 cents forecast. Revenue net of interest expenses came in at $25.35 billion, slightly exceeding expectations.



Key business lines performed well. Net interest income reached $14.36 billion, ahead of the $14.12 billion estimate. Investment banking revenue also beat, coming in at $1.65 billion versus the $1.47 billion forecast.



Goldman Sachs analyst Richard Ramsden noted that the results were "better than expected, given 1% higher NII and fees," but indicated that pre-provision net revenue of $8.4 billion fell 2% short of estimates. He added that investors would focus on expense and interest income guidance for 2025.



Bank of America shares were 0.7% lower, following Wednesday's 2.8% rally.



Read also: <a href="https://www.benzinga.com/25/01/43026092/bank-of-america-q4-earnings-67-billion-profit-revenue-jumps-15-investment-banking-and-deposit-growth">Bank of America Q4 Earnings: $6.7 Billion Profit, $1.7 Billion In Investment banking fees, Forecasts Higher NII In 2025</a>



<h3 class="wp-block-heading">PNC, U.S. Bancorp, First Horizon Deliver Mixed Results</h3>



PNC Financial Services posted EPS of $3.77, beating the $3.33 estimate. Revenue of $5.57 billion edged out expectations, but shares slipped 3.8% after gaining 2.4% on Wednesday.



U.S. Bancorp delivered EPS of $1.07, slightly above the $1.05 forecast, but revenue of $6.98 billion came in just below the $7 billion estimate. The stock was down 6.6% at the time of publication Thursday, after a 3.8% jump Wednesday.



First Horizon posted EPS of 43 cents, beating estimates of 39 cents, but revenue disappointed at $729 million, well short of the $820.7 million forecast. Shares were flat, following a 2.7% gain on Wednesday.



Read now: 



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<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43027744/retail-sales-slow-jobless-claims-rise-is-us-consumer-loosing-steam">Retail Sales Disappoint, Jobless Claims Rise: Is US Consumer Losing Steam?</a></li>
</ul>



Photo: Shutterstock

Mid Cap

Big Banks Continue To Beat Q4 Earnings As Financial ETF Takes A Breather

Carvana Co's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) stock is up over 8.4% at last check Thursday, bringing its price to over <a href="https://www.benzinga.com/quote/CVNA/news">$232 a share</a>.



Just two weeks ago, the used car retailer was reeling from accusations of fraudulent accounting, thanks to a scathing report from short-seller Hindenburg Research. Today, its share price is accelerating upwards like it&#8217;s on a joyride.



It&#8217;s worth noting that Carvana's stock spiked 428.75% in the past year. Last month? Not so much—it was down 12.57%.



Hindenburg Research, infamous for calling out the likes of Nikola Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKLA#NASDAQ">NKLA</a>) and Adani Group, alleged that Carvana had questionable financials. The firm&#8217;s founder, Nate Anderson, <a href="https://www.benzinga.com/news/management/25/01/43017547/hindenburg-research-is-closing-up-shop-we-shook-some-empires-that-we-felt-needed-shaking">just announced Hindenburg's closure</a>—two weeks after its Carvana report. 



But that hasn't stopped Carvana's stock from surging today, buoyed by optimism.



Read Also: <a href="https://www.benzinga.com/trading-ideas/movers/25/01/42880169/carvana-stock-soars-as-atlanta-megasite-integration-boosts-auction-reconditioning-capacity">Carvana Stock Soars As Atlanta &#8216;Megasite&#8217; Integration Boosts Auction, Reconditioning Capacity</a>



<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent011625&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="629" height="487" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/16103457/Screenshot-2025-01-16-at-9.04.42-PM.png" alt="" class="wp-image-737113" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/16103457/Screenshot-2025-01-16-at-9.04.42-PM.png 629w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/16103457/Screenshot-2025-01-16-at-9.04.42-PM-300x232.png 300w" sizes="(max-width: 629px) 100vw, 629px" /></a></figure>



<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent011625&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>



The online retailer, known for buying and selling used cars, is trading above its eight-day and 20-day simple moving averages (SMAs). This signals the potential for more upward momentum. The 50-day SMA, however, is waving a red flag with its bearish signal at $233.22. The 200-day SMA, way lower at $159.01, however infuses long-term optimism for Carvana stock.



Carvana&#8217;s MACD (moving average convergence/divergence) indicator is waving another red flag at a negative 8.05, while its RSI (relative strength index) sits in the neutral territory at 55.48, indicating there&#8217;s room for more gain before Carvana stock becomes overbought.



<h2 class="wp-block-heading">The Hindenburg Bump</h2>



What's particularly eyebrow-raising is that the stock is still rallying despite the accusations of accounting manipulation and insider selling. Hindenburg Research claimed to have uncovered $800 million in shady loan sales and pointed to Carvana's astronomical valuation compared to rivals like CarMax and AutoNation.



And still, the stock is up.



Carvana, for its part, is standing firm, dismissing Hindenburg's claims as "<a href="https://www.benzinga.com/trading-ideas/movers/25/01/42769626/hindenburg-shorts-carvana-stock-claims-used-car-retailers-turnaround-is-a-mirage">misleading and inaccurate</a>." And perhaps that confidence is rubbing off on investors, who seem to believe the worst may be behind the company after <a href="https://www.benzinga.com/markets/equities/24/02/36923428/carvana-plans-turnaround-with-strategic-restructuring-stock-rebound-and-debt-overhaul-report">its brush with bankruptcy</a>.



<h2 class="wp-block-heading">What's Next?</h2>



With Carvana's RSI sitting at a neutral 55.48, it's anyone's guess whether today's rally signals the start of a long recovery.



Technicals suggest it could be bullish based on recent moving averages, but the looming specter of Hindenburg's allegations and the company's shaky fundamentals leave many wondering if this is a mirage.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/01/43018900/from-adani-to-nikola-how-hindenburg-research-reshaped-short-selling-before-its-final-bow">From Adani To Nikola: How Hindenburg Research Reshaped Short-Selling Before Its Final Bow</a></li>
</ul>



Image: Shutterstock

Long Ideas

Short Ideas

CVNA

NKLA

Carvana: Bumpy Ride Or Comeback Story? Here's What The Technicals Suggest

Israeli Prime Minister Benjamin Netanyahu has postponed a cabinet meeting that was set to vote on a ceasefire agreement with Hamas. The meeting has been delayed due to what Netanyahu has described as &#8220;last minute concession&#8221; <a href="https://www.benzinga.com/25/01/43011383/israel-gaza-ceasefire-hostage-exchange">demands from Hamas.</a>



What Happened: The vote, which was expected to take place on Thursday, has been put on hold by Netanyahu, who stated the meeting will only proceed once Hamas withdraws its demands. This development has cast doubt on the possibility of a ceasefire after 15 months of conflict, NPR <a href="https://www.npr.org/2025/01/16/nx-s1-5262339/israel-hamas-netanyahu-ceasefire">reports</a>.



Netanyahu stated the meeting will only proceed once mediators confirm all elements of the agreement have been fully accepted. He did not specify which parts of the deal Hamas had allegedly violated.



Senior Hamas official Sami Abu Zuhri has rejected Netanyahu&#8217;s claims, asserting that there is no foundation to the allegations that Hamas is backing out of parts of the ceasefire agreement.



Also Read: <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43017610/oil-prices-break-80-reach-6-month-highs-despite-israel-hamas-ceasefire-deal-why-is-crude-rallying">Oil Prices Break $80, Reach 6-Month Highs Despite Israel-Hamas Ceasefire Deal: Why Is Crude Rallying?</a>



Netanyahu has been under pressure from right-wing members of his coalition government who oppose any form of deal with Hamas, according to NPR. These members have warned they may exit the coalition if a deal is finalized, a decision that could potentially topple Netanyahu&#8217;s government.



Why It Matters: The conflict between Isreal and Hamas has a long history, with the ceasefire agreement being a significant development. The verbal agreement for a ceasefire in Gaza was reached after months of negotiations and has the potential to bring an end to the ongoing war in the Middle East.



This development has had a significant impact on the stock market, <a href="https://www.benzinga.com/news/global/25/01/43013312/defense-stocks-fall-on-gaza-ceasefire-while-broader-market-rallies-whats-going-on">with defense stocks</a>, including Lockheed Martin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), Northrop Grumman (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) and Raytheon Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>), experienced declines on Wednesday as news of a Gaza ceasefire gained traction.



Read Next:



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<li><a href="https://www.benzinga.com/news/25/01/43019094/bidens-farewell-address-targets-tech-oligarchy-in-trump-2-0-era-president-says-americans-face-avalanche-of-misinformation">Biden&#8217;s Farewell Address Targets Tech Oligarchy In Trump 2.0 Era: President Says Americans Face &#8216;Avalanche Of Misinformation&#8217;</a></li>
</ul>



Photo: Shutterstock

Netanyahu Postpones Ceasefire Vote, Raising Questions About Gaza Truce Prospects

Crypto exchange Coinbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) has launched a new service allowing U.S. customers (excluding in the state of New York) to borrow (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>) against <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42142159/bitcoin-paying-for-your-mortgage-one-company-enables-it-but-theres-a-catch">their Bitcoin holdings</a>.



This new offering allows users to access liquidity without selling their Bitcoin, providing instant loans with flexible repayment terms and competitive interest rates powered by Morpho, an open-source lending protocol on Coinbase&#8217;s Layer-2 blockchain Base.



The loans are disbursed instantly in USDC, offering flexible repayment options and competitive interest rates set dynamically by Morpho&#8217;s open market lending pool.



&#8220;Getting a Bitcoin-backed loan on Coinbase is now easier and faster than ever. In under a minute, you can get a loan in USDC without ever having to sell your bitcoin,&#8221; the company stated.



This development aims to bridge the gap between holding crypto assets for the future and accessing funds for immediate needs.



When a user borrows USDC against their Bitcoin, the collateral is automatically converted to Coinbase Wrapped Bitcoin (cbBTC) on a 1:1 basis and transferred to the Morpho protocol.



This cbBTC, which was launched in September to allow customers to move and use their Bitcoin on-chain, remains within the Coinbase ecosystem while being used as collateral.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43026792/bitcoin-consolidates-around-99000">Bitcoin Consolidates Around $99,000 After $750 Million ETF Inflows On Wednesday</a>



Users can borrow up to $100,000 USDC, depending on the amount of Bitcoin they pledge as collateral. 



The interest rates are variable and adjusted in real-time by Morpho based on market conditions, changing dynamically with each block creation on the Base blockchain. 



The loan terms offer users flexibility in repayment, with no fixed repayment schedule, while users can monitor their loan status via the Coinbase app. 



Users will be subject to liquidation if the loan amount, including accrued interest, reaches a predetermined level compared to their collateral value.



Coinbase emphasizes the benefits of borrowing against Bitcoin rather than selling it, citing potential tax advantages in delaying capital gains or losses. 



The launch of these Bitcoin-backed loans marks another step in Coinbase&#8217;s effort to empower customers with &#8220;greater control over their financial lives,&#8221; according to Coinbase. 



By combining the accessibility of Coinbase with the transparent, decentralized features of on-chain protocols, the company aims to offer &#8220;vastly improved financial services.&#8221;



Read Next: 



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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43014100/akash-network-founder-reveals-unexpected-ai-energy-crisis">Akash Network Founder Reveals Unexpected AI Energy Crisis Driving Decentralized Cloud Adoption</a></li>
</ul>



Image: Shutterstock

$USDC

COIN

Coinbase Launches Bitcoin-Backed Loans For US Users

On Thursday,&nbsp;Morgan Stanley&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) reported a fourth-quarter adjusted EPS of $2.22, up from $0.85 a year ago and beating the consensus of $1.70. Net earnings more than doubled from $1.52 billion to $3.7 billion.



The U.S. bank&nbsp;<a target="_blank" href="https://www.morganstanley.com/content/dam/msdotcom/en/about-us-ir/shareholder/4q2024.pdf" rel="noreferrer noopener">reported</a> fourth-quarter revenue of $16.22 billion, up 26% year over year, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $15.03 billion</a>.



The Firm's expense efficiency ratio was 71% in 2024 compared to 77% a year ago, reflecting stronger revenues and expense discipline. Certain expense items negatively impacted the prior year. The expense ratio decreased from 84% to 69% in the quarter.



Also Read: <a target="_blank" href="https://www.benzinga.com/government/regulations/24/12/42479974/us-lenders-file-joint-lawsuit-against-consumer-finance-watchdog-for-capping-overdraft-fees-wells-fargo-jpmorgan-citigroup-stocks-in-focus" rel="noreferrer noopener">US Lenders File Joint Lawsuit Against Consumer Finance Watchdog For Capping Overdraft Fees: Wells Fargo, JPMorgan, Citigroup Stocks In Focus</a>



Ted Pick, Chairman and CEO said, "An excellent fourth quarter with a 20% ROTCE followed three quarters of consistent execution for Morgan Stanley, capping off one of the strongest years in the Firm's history&#8230;Total client assets grew to $7.9 trillion across Wealth and Investment Management supported by markets and healthy net new assets."



Morgan Stanley delivered Return on Tangible Common Equity of 20.2% during the fourth quarter and 18.8% in 2024.



The provision for credit losses in the fourth quarter was $115 million, up from $3 million a year ago.



Institutional Securities reported net revenues of $7.3 billion compared with $4.9 billion a year ago. Sales in 2024 reached $28.1 billion, reflecting higher results across business lines and regions on strong client activity and improved market conditions.



Investment Banking revenues were up 25% from a year ago to $1.64 billion. Advisory revenues increased to $779 million on higher completed M&amp;A transactions.



Equity net revenues reached $3.33 billion, up 51%. Increased client activity drove equity net revenues across business lines and regions, with notable strength in Prime Brokerage and regional strength in Asia.



Wealth Management reported net revenues of $7.5 billion in the current quarter compared with $6.6 billion a year ago.



Asset management revenues at $4.42 billion were a record on higher asset levels and the cumulative impact of positive fee-based flows.



Transactional revenues increased by 18%, excluding mark-to-market's impact on DCP investments. Higher levels of client activity drove the increase.



In 2024, investment Management reported net revenues of $5.9 billion driven by asset management revenues on higher average AUM. The year included long-term net inflows of $18 billion.



In the quarterly conference call, CEO Ted Pick said the bank will continue to grow the dividend prudently and opportunistically repurchase stock.



Price Action:&nbsp;At last check Thursday, MS stock was up 2.15% at $133.36 during the premarket session.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/01/43027043/target-posts-strong-holiday-sales-stock-surges" target="_blank" rel="noreferrer noopener">Target's Holiday Sales Surge 2.8%: Digital Growth And Black Friday Wins Drive Results</a></li>
</ul>



Photo via Shutterstock

Morgan Stanley Q4 Earnings: Profit Doubles, CEO Calls It One Of Strongest Years, Aims For Prudent Dividend Growth

BlackRock Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) discussed the role of exchange-traded funds (ETFs) in its growth strategy during its <a href="https://www.benzinga.com/25/01/42997625/blackrock-beats-q4-estimates-fueled-by-record-inflows-116-trillion-aum-milestone">fourth-quarter earnings commentary</a>. Its Q4 results showed significant achievements and robust momentum across its ETF business. The asset management giant reported $390 billion in ETF net inflows in 2024, representing 11% organic asset growth and 7% organic base fee growth.



Crunching The Inflow Numbers



The fourth quarter alone saw $143 billion in ETF inflows, driven by seasonal portfolio reallocations and investor re-risking as U.S. equity indices and spot Bitcoin prices hit record highs. iShares products helped clients diversify and invest in key investment themes.



ETFs are a core driver of BlackRock&#8217;s growth strategy. &#8220;Since our acquisition of iShares, Blackrock has led in expanding the market for ETFs by making them more accessible and by delivering new asset classes like bonds or crypto and investment strategies like Active. Approximately a quarter of our $390 billion of ETF net inflows were into products launched in the last five years,&#8221; said BlackRock CEO Larry Fink.



Notably, its Bitcoin ETP emerged as the largest ETF launch in history, amassing over $50 billion in assets under management (AUM) within a year. Active ETFs also had a great year, recording $22 billion in net inflows in 2024.



European Expansion



In Europe, BlackRock scaled its ETF platform considerably, with $90 billion in net inflows in the year, driving the European platform's AUM closer to $1 trillion. The region has seen double-digit organic growth for two straight years, thanks to the rise of individual investors using online platforms and ETF savings plans. Moreover, increasing financial education among first-time investors also enabled them to enter the markets.



A large part of BlackRock's growth story constitutes acquisitions, including GIP, Preqin, and HPS, which continues to complement the firm's long-term vision of integrated public and private markets and a larger suit of technology offerings. According to Bloomberg analyst Eric Balchunas, the iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>) raked in the second largest amount of inflows in 2024, at $86.8 billion. 



See Next: 



<ul>
<li><a href="https://www.benzinga.com/25/01/43015310/etfs-to-tackle-2025s-global-risks-insights-from-wef-at-annual-meeting-in-davos">Davos 2025: ETFs To Tackle Geopolitical, Climate, Cyber Risks</a></li>
</ul>



Photo: Shutterstock

BlackRock's ETF Business Excels In 2024 With Record $390 Billion Net Inflows

Quantum computing stocks continued their upward momentum in Thursday&#8217;s premarket, building on <a href="https://www.benzinga.com/markets/equities/25/01/42998134/qubt-qbts-up-12-rgti-gains-3-in-wednesday-premarket-quantum-computing-stocks-gain-momentum-after-microsoft-says-we-are-right-on-the-cusp-of-seeing-quantum-computers-solve-meaningful-problems">Wednesday&#8217;s strong gains.</a> The surge followed Microsoft Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) call for businesses to embrace a &#8220;quantum-ready&#8221; future by 2025, signaling growing optimism around the sector&#8217;s potential.



What Happened: According to <a href="https://pro.benzinga.com">Benzinga Pro</a>, shares of Quantum Computing Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QUBT#NASDAQ">QUBT</a>) rose by 15.58%, Rigetti Computing Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>) increased by 3.47%, IONQ Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NYSE">IONQ</a>) up by 1.93% and D-Wave Quantum Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QBTS#NYSE">QBTS</a>) climbed 9.67% in pre-market trading on Thursday. 



Mitra Azizirad, president and COO of Microsoft&#8217;s strategic missions and technologies, on Tuesday, highlighted in a blog post that we are entering a reliable quantum computing era capable of solving significant problems and unlocking new business value.



The rally gained further momentum as Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) <a href="https://www.benzinga.com/news/25/01/43001201/nvidia-announces-first-ever-quantum-day-at-gtc-2025-days-after-jensen-huang-said-quantum-computing-is-20-years-away">announced a &#8220;Quantum Day&#8221; </a>at its upcoming GTC conference in March. Microsoft also launched a program to help businesses prepare for this transformative era, emphasizing the urgency for business leaders to act. Quantum computing stocks had previously surged last year following Google&#8216;s breakthrough with its Willow quantum computing chip.



Despite Nvidia CEO Jensen Huang&#8216;s assertion that<a href="https://www.benzinga.com/markets/equities/25/01/42966492/jensen-huang-said-quantum-computing-is-20-years-away-but-nvidia-bets-big-on-strategic-hiring"> practical quantum computing</a> is likely two decades away, the company is not waiting to invest in its future. Nvidia is actively hiring for roles that will strengthen its quantum computing capabilities, indicating a long-term commitment to integrating quantum and classical computing systems.



Furthermore,&nbsp;Jim Cramer&nbsp;has been steering investors toward <a href="https://www.benzinga.com/markets/equities/25/01/42993388/jim-cramer-eyes-quantum-computing-stocks-like-rigetti-after-gamestop-sell-off-warns-against-super-micro-computer-they-are-trying-so-hard-to-walk-it-up-now">quantum computing stocks</a> like Rigetti, especially following the GameStop sell-off. Cramer highlighted the extraordinary trading volume of Rigetti shares, suggesting a strong interest in the sector. 



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



Read Also: 



<ul>
<li><a href="https://www.benzinga.com/news/earnings/25/01/43022654/taiwan-semiconductor-q4-earnings-3nm-and-5nm-nodes-lead-topline-growth-expands-margins-issues-strong-q1-outlook">Taiwan Semiconductor Q4 Earnings: 3nm and 5nm Nodes Lead Topline Growth, Expands Margins, Issues Strong Q1 Outlook</a></li>
</ul>



Image via Rawpixel

Pre-Market Outlook

IONQ

MSFT

QBTS

QUBT

RGTI

Quantum Computing Stocks Continue Their Wild Surge In Thursday Premarket: QUBT Up 15%, QBTS Climbs 9%, RGTI Gains Over 3%

U.S. stock futures were mixed on Thursday following Wednesday&#8217;s <a href="https://www.benzinga.com/news/earnings/25/01/43021827/dow-jumps-700-points-following-inflation-data-greed-index-remains-in-fear-zone">rally</a>. Futures of the S&amp;P 500, Nasdaq 100, and Dow Jones were higher, whereas the gauge of small-cap stocks Russell 2000 was trading lower in premarket trade.



Traders responded to better-than-expected inflation data on Wednesday as most stocks rallied. The headline Consumer Price Index rose 2.9% year-over-year in December, up from November's 2.7%, matching economist forecasts.



The 10-year Treasury note yielded 4.66%, while the two-year note yielded 4.28%. The CME Group&#8217;s FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a> indicated a 97.3% probability that the Federal Reserve will hold interest rates steady at its upcoming meeting on Jan. 31, 2025.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Nasdaq 100</td><td>0.48%</td></tr><tr><td>S&amp;P 500</td><td>0.33%</td></tr><tr><td>Dow Jones</td><td>0.06%</td></tr><tr><td>Russell 2000</td><td>-0.19%</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>) both experienced positive premarket trading on Thursday. SPY rose 0.35% to $594.86, and QQQ climbed 0.45% to $519.01, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From The Last Session



U.S. stocks surged on Wednesday, experiencing their largest single-day <a href="https://www.benzinga.com/news/earnings/25/01/43021827/dow-jumps-700-points-following-inflation-data-greed-index-remains-in-fear-zone">gain</a> since Nov. 6, 2024.



Inflation data released on Wednesday showed a slight uptick in consumer prices in December, matching economists&#8217; expectations. However, the monthly increase was the largest since March.



Several major banks, including JPMorgan Chase &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Goldman Sachs Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), and Citigroup Inc.(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>) reported strong fourth-quarter earnings, with Citigroup also announcing a significant share buyback program.



Most sectors within the S&amp;P 500 experienced gains, particularly consumer discretionary, communication services, and financial stocks. Conversely, consumer staples stocks bucked the trend and closed lower.



The Dow Jones Industrial Average closed with a substantial gain of around 703 points. The S&amp;P 500 and Nasdaq Composite also recorded significant increases.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>2.45%</td><td>19,511.23</td></tr><tr><td>S&amp;P 500</td><td>1.83%</td><td>5,949.91</td></tr><tr><td>Dow Jones</td><td>1.65%</td><td>43,221.55</td></tr><tr><td>Russell 2000</td><td>1.99%</td><td>2,263.29</td></tr></tbody></table></figure>



Insights From Analysts



After Wednesday&#8217;s rally, Charlie Bilello, the chief market strategist at Creative Planning said in an X post that about one-third of the S&amp;P 500&#8217;s composition was concentrated in the &#8216;Magnificent Seven&#8217; stocks. According to a chart shared by him the concentration in these stocks rose to 33.5% from 28% a year ago.



<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">Over a third of the S&amp;P 500 is now concentrated in the &quot;Magnificent Seven&quot; stocks, up from a fifth of the index two years ago. Video: <a href="https://t.co/CRei7RqnLO">https://t.co/CRei7RqnLO</a> <a href="https://t.co/P69ATuGRHv">pic.twitter.com/P69ATuGRHv</a>&mdash; Charlie Bilello (@charliebilello) <a href="https://twitter.com/charliebilello/status/1879733848822403087?ref_src=twsrc%5Etfw">January 16, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Talking about inflation, Collin Martin, director, of fixed income strategy at the Schwab Center for Financial Research said, &#8220;CPI was a step in the right direction, but we&#8217;ll need to see more reports like this for evidence that the disinflationary trend has resumed.&#8221;



At the same time, Liz Ann Sonders, the chief investment strategist, at Charles Schwab highlighted that the spread between S&amp;P 500's forward earnings yield and 10-year Treasury yield has reached a new 23-year low.



<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">Spread between S&amp;P 500's forward earnings yield and 10y Treasury yield has reached new 23-year low <a href="https://t.co/SxoQO7TU9K">pic.twitter.com/SxoQO7TU9K</a>&mdash; Liz Ann Sonders (@LizAnnSonders) <a href="https://twitter.com/LizAnnSonders/status/1876605073117122574?ref_src=twsrc%5Etfw">January 7, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



According to RMB Capital, the U.S. consumer remained resilient while U.S. government spending continued unchecked despite sticky inflation and higher interest rates.



&#8220;The incoming administration appears focused on the challenging task of bolstering economic growth while at the same time reducing the deficit. The most critical element of this endeavor will be curtailing the deficit while keeping longer-term yields contained, so as not to disrupt economic expansion,&#8221; it added.



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



Upcoming Economic Data



<ul>
<li>On Thursday at 8:30 a.m., ET initial jobless claims data for the week ending Jan. 11 will be released.</li>



<li>December&#8217;s U.S. Retail Sales figures will be announced.</li>



<li>The Import Price Index for December will be published.</li>



<li>The Philadelphia Fed Manufacturing Survey for January will be released.</li>



<li>At 10:00 a.m., ET, the business inventories data for November will be released.</li>



<li>The Home Builder Confidence Index for January will be published.</li>



<li>On Friday, at 8:30 a.m. ET, the Housing Starts and Building Permits data for December will be released.</li>



<li>At 9:15 a.m., ET, the Industrial Production and Capacity Utilization figures for December will be announced.</li>
</ul>



Stocks In Focus:



<ul>
<li>Bank of America Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) was up 0.38% in premarket on Thursday as Wall Street expects it to report quarterly earnings of 77 cents per share on revenue of $25.19 billion before the opening bell.</li>



<li>Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) was up 1.49% ahead of its earnings before the opening bell. Analysts expect it to report quarterly earnings of $1.70 per share on revenue of $15.03 billion.</li>



<li>UnitedHealth Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) was up 0.4% as Wall Street expects it to report quarterly earnings of $6.72 per share on revenue of $101.76 billion before the opening bell.</li>



<li>Taiwan Semiconductor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) was up 4.83% after it beat the fourth quarter revenue and EPS estimate. Its top client Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) was also up 2.04%.</li>



<li>Synovus Financial Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNV#NYSE">SNV</a>) was up 0.46% after reporting upbeat fourth-quarter financial results on Wednesday.</li>



<li>Powell Max Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PMAX#NASDAQ">PMAX</a>) was up 84.66% as it is targeting firms with between $1 million and $5 million in revenue to expand into the Hong Kong and Asian financial communications market.</li>



<li>Douyu International Holdings Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOYU#NASDAQ">DOYU</a>) was up 23.76% after naming Simin Ren as co-CEO and announced a special cash dividend of $9.94/ADS.</li>



<li>BigBear.ai Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>) was up 14.45% as it appointed Kevin McAleenan as CEO and a member of the company&#8217;s board, effective as of Wednesday. McAleenan will replace Mandy Long, who is transitioning to an advisory role.</li>
</ul>



Commodities, Gold And Global Equity Markets:



Crude oil futures were trading lower in the early New York session by 0.30% to hover around $78.47 per barrel.



The gold spot index was up by 0.71% to $2,737.06 per ounce. The Dollar Index was down 0.01% at 109.083 level.



Asian markets closed higher on Thursday as Hong Kong&#8217;s Hang Seng, India&#8217;s S&amp;P BSE Sensex, China&#8217;s CSI 300, Australia&#8217;s ASX 200, Japan&#8217;s Nikkei 225 and South Korea&#8217;s Kospi index rose. European markets were also trading higher.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/01/43021065/cash-app-parent-block-inc-eyes-395-upside-bofa-believes-us-centric-re-acceleration-story-will-drive-the-stock">Jack Dorsey&#8217;s Block Eyes Over 39% Upside: BofA Says US-Centric Re-Acceleration Story Will Drive The Stock</a></li>
</ul>



Photo courtesy: Wikimedia

Market Summary

BBAI

DOYU

PMAX

US Stocks Could Open Higher After Big Banks Report Strong Earnings: Mag 7 Now Account For A Third Of S&P 500's Market Capitalization, Raising Alarms

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